Leaving edward jones

If you leave now and go to another b/d you can bet they will come after you for the training costs.  When I was there they valued the training at $75,000 (must be because of the three weeks you get to spend at the luxurious Westport Plaza)

If I were you I would get some legal advice before jumping ship.  Otherwise it will be an expensive move.

Try to look at some of the older threads on here.  There is a lot of information about these issues.

Dont you get your can sell date 2 months after passing the 7?  What went wrong so quickly?  Please share some stories.

[quote=stuckatjones]

I'm currently working as a door to door salesman for Jones, and I'd like to leave and go to another firm, but I'm worried about the repayment of training costs clause in the contract I signed when I was hired.

I haven't yet reached my "can sell date" and the contract is so vague that it's unclear whether the clause would go into effect if I were to leave now, or what.  I've talked to a few other trainees (also considering bailing) about this, and we are all confused.  A few people have said the only way out is to get fired, as opposed to quiting, but I don't think I'm going to go and do that.

I'd appreciate any advice or info any of you have concerning this topic.

[/quote]

How can you quit before your can sell?? You knew the business was tough before you got involved and you already want to switch firms? How can clients express loyalty when you can't even stay at a firm for a few months?

It only took a couple weeks of "being in the field" for me to get the koolaid out of my system and see where this job is heading.  I don't want to waste 2 or 3 years before moving on to a better firm, like a lot of people do.  I do realize the business is tough, and thats not why I want to leave.  I'm actually performing just fine, and if I were to stay on, I'm sure I'd be the top performer out of my training class by far.  I just feel, after going through the initial training, that the company just doesn't have as much to offer an IR as some of the others.

Oh, and as far as the client loyalty concern, I’m not planning on taking any clients with me.  We aren’t allowed to have “clients” at this point, just “contacts”.  We can’t even talk about financial topics with the people we come in contact with.  I’m not even allowed to give anyone any information (like phone number, address, etc) about me other than my name!

[quote=stuckatjones]

It only took a couple weeks of "being in the field" for me to get the koolaid out of my system and see where this job is heading.  I don't want to waste 2 or 3 years before moving on to a better firm, like a lot of people do.  I do realize the business is tough, and thats not why I want to leave.  I'm actually performing just fine, and if I were to stay on, I'm sure I'd be the top performer out of my training class by far.  I just feel, after going through the initial training, that the company just doesn't have as much to offer an IR as some of the others.

[/quote]

So you already know without selling anything that you would be the top performer in your class??

Wow..... you have washout written all over you and you don't even know it.

Hey noggin it sounds like you are a little bitter about something.  Could it be that you are still an IR at Jones, using a 56k modem to sell American Funds, working out of your basement, making nothing,  wishing you would have left a year ago?  Maybe your ID should be stuckatjones, not mine.  I'll take what you said to heart though.  Thanks for giving me a yet another great picture of an IR in year 2.

DISCLAIMER:  Although I was an attorney in my former life, you shouldn't consider this legal advice. 

That said, if you haven't even reached your can sell date, I doubt they will come after you.  A few of reasons for my, now, non-legal opinion. 

First, the old saying that you can't get blood from a turnip.  If you are a new broker, it's likely you don't have the $75,000 or any means to pay that any time soon.  Even attorneys understand basic math - if EDJ actually pursued this to conclusion, it would cost far more in legal fees than they would ever recoup from you.

Second, you haven't been through all of the training that they allege is worth $75,000.  Based on your post, all you have received from EDJ at this point is some study materials for the 7 and a small stipend.  Assuming EDJ did want to pursue this matter and eventually prevailed, it's very probable that their claim for $75,000 would be reduced significantly because you haven't received the full benefit (i.e. you haven't been through the full training program).

Third, EDJ has been in the news a lot lately for some apparently bad behavior.  Although it probably wouldn't get very far in court, just being able to bring these up and embarrass them does give you some leverage.

One thing you need to understand about attorneys, they send a lot of threatening letters that they never intend to pursue.  Letters are cheap for the client and even cheaper for the law firm.  But actually filling a lawsuit sets the billing machine in motion.

Good luck.

stuckatjones,

    I'm having a great chuckle reading your thread .  You really should look at a bank, credit union, or discount broker.  Not because these are good options, but because these are your only options.  If you can't make it 2 months prospecting, you definitely won't make it 3 years at any real firm. 

    Make sure when you leave you blame it on Edward Jones too.  Your failure had nothing to do with your inability to prospect.

I left Jones last November.  The contract states “3 years from date of registration with the NASD.”  I can’t exactly remember but I believe that is your can-sell date but it may be your hire date.

stuckatjones,

You have your contract, take it to a lawyer.  Bill Singer will advise you to do the same.

Your employer needs revenue. They have a law firm in St.L on retainer that handles all of EJ contract disputes.  If they go after someone with a $5 million book what makes you think they won't come after you?

They WILL come after you for something.  They didn’t pay for you to get your S7 and then watch you walk out the door and take it to another b/d.

Remember, it’s not always that they think they will get $$ from you.  It is often to use you as an example.  They realize that you will have to go hire an attorney and it will cost you dearly.  That’s the way they operate!

[quote=rankstocks]

stuckatjones,

    I'm having a great chuckle reading your thread .  You really should look at a bank, credit union, or discount broker.  Not because these are good options, but because these are your only options.  If you can't make it 2 months prospecting, you definitely won't make it 3 years at any real firm. 

    Make sure when you leave you blame it on Edward Jones too.  Your failure had nothing to do with your inability to prospect.

Oh, and as far as the client loyalty concern, I’m not planning on taking any clients with me. We aren’t allowed to have “clients” at this point, just “contacts”. We can’t even talk about financial topics with the people we come in contact with. I’m not even allowed to give anyone any information (like phone number, address, etc) about me other than my name!

[quote=Incredible Hulk] [quote=stuckatjones] Oh, and as far as the client loyalty concern, I'm not planning on taking any clients with me.  We aren't allowed to have "clients" at this point, just "contacts".  We can't even talk about financial topics with the people we come in contact with.  I'm not even allowed to give anyone any information (like phone number, address, etc) about me other than my name![/quote]

This is because you are not licensed. At two months into prospecting with out a single sale under your belt, I find it humorous that you've had enough of the koolaid; are upset about not being able to give out a business card; and are looking for another firm. It is hires like you that give fodder to exdrone and the like.[/quote]

Then maybe you drones should stop hiring anyone that can fog a mirror. 

Find another job.  You are not cut out for the business with or without jones.  This should be the easiest time in your career, Just meeting as many people as you can each and every day. 

[quote=joedabrkr] [quote=rankstocks]

stuckatjones,

    I'm having a great chuckle reading your thread .  You really should look at a bank, credit union, or discount broker.  Not because these are good options, but because these are your only options.  If you can't make it 2 months prospecting, you definitely won't make it 3 years at any real firm. 

    Make sure when you leave you blame it on Edward Jones too.  Your failure had nothing to do with your inability to prospect.

[/quote]

Rank usually you and I don't see eye to eye, but I agree with you completely on this one....

Interesting your choice of words "if you can't make it 2 months prospecting(at Jones) you definitely won't make it 3 years at any real firm." Freudian slip, perhaps, but it implies to me that even you do not see Jones as a 'real firm'.
[/quote]

That's funny.

As for you stuck, go back to the wal mart jones recruited you from.  When you say things like I already know I would be at the top of my training class without ever selling anything, it is pretty clear to anyone who has been in this business that you aren't cut out for it.

How do you guys no that stuck is a “loser”? He just doesn’t like the company and wants to find another…doesn’t mean he can’t do the job! Not being successful at one company doesn’t mean you can’t exceed at another. A problem I have with the Jones culture is that if you don’t work there for the rest of your career and retire you are a wash out. If you leave and go to another company you are a crook or a wash out. Very, very strange. And wrong, I might ad.

Thanks peanutbroker.  Its refreshing to see that someone else isn’t brainwashed by the company like some of these other guys on here.  As for those few who suggest I’m not cut out for the industry, I never said I was having trouble “making it with the company”.  In fact, I have had incredible success making contacts and am doing just fine.  My main issue, however, is that when I look at the bigger picture, I would rather work for a better, more ethical, more reputable firm.  The bottom line is EDJ might be a great place to work for some of you in the industry, but I’m not about to waste 2 years of my life before I realize its not for me.   

How do you guys no that stuck is a “loser”? He just doesn’t like the company and wants to find another…doesn’t mean he can’t do the job! Not being successful at one company doesn’t mean you can’t exceed at another. A problem I have with the Jones culture is that if you don’t work there for the rest of your career and retire you are a wash out. If you leave and go to another company you are a crook or a wash out. Very, very strange. And wrong, I might ad.

Maybe now is the best time maybe not. Do you want to be a trainee for

the rest of your life. Jumping to go to another firm puts you where you

were 3 months ago. I would be very cautious before doing anything. Not

so much from a legal standpoint, but look at it from a prospective hiring

point of view. Would you hire someone who didn’t do their homework

before joining a company or signing a 3 year contract? Who jumps ship

from a company that isn’t the best, but it sure isn’t the worst company

out there? I would stick it out, take advantage of the new pay grid. Study

like hell and never mention the words Edward Jones when talking to

prospective clients. Sell C shares of mutual funds with diversified

portfolios and learn everything possible about insurance (where it really

fits into a retirement plan). 3 years from now (which will fly by) go to

where you really want to be (this time study the field and talk to

recruiters).

Why would a compliance problem even be working at Jones? Shouldn’t he

have been canned once he became a problem? I almost forgot that is why

they have the double-secret probation.

Why is everyone so quick to quit these days? Why would a bigger and
perhaps better firm hire you? I don’t think that sends a very good
message to potential new firms. 

[quote=rook4123]Why is everyone so quick to quit these days? Why would a bigger and perhaps better firm hire you? I don't think that sends a very good message to potential new firms.  [/quote]

Haven't you heard?  It's no longer fashionable to put forth an effort.  David Letterman often mocks the younger people when he sits at his desk and whines, "But it's so haaaard."

The sad reality of life in "modern" America is that if it requires more energy than a video game most people under forty are not willing to do it.

The younger you are the more likely you are to embrace the theme, "When the going gets tough I quit!"

Very weak troll. 0/10.

There are much better anti-Jones trolls in the archives.

Nothing more to see here.

[quote=stuckatjones]

I'm currently working as a door to door salesman for Jones, and I'd like to leave and go to another firm, but I'm worried about the repayment of training costs clause in the contract I signed when I was hired.

I haven't yet reached my "can sell date" and the contract is so vague that it's unclear whether the clause would go into effect if I were to leave now, or what.  I've talked to a few other trainees (also considering bailing) about this, and we are all confused.  A few people have said the only way out is to get fired, as opposed to quiting, but I don't think I'm going to go and do that.

I'd appreciate any advice or info any of you have concerning this topic.

Stuck…I disagree with your wanting to work for a “more ethical firm” comment. I have defended you, but you are wrong about the more ethical thing. In regards to how the company treats its customers…I really believe they are among the upper crust. NOW…before you other people read that last comment and get on your soap box and take me for one of those, “Jones is the only place that is good for people to invest”, stop and read my next comment. There are other groups out there that do a good job too!



At anyrate, Stuck…you haven’t been there long enough to figure that out. You don’t know your competition, you don’t know your company’s strengths, you don’t even know what it means to build a business or be an advisor yet. How would you…you don’t even have customers.



In regards to how they treat the employees is up to which person you talk to. Seg 2 and 18 months out vs 10 year vet. Big difference. The people that groan the most are the Seg 1,2,3 people under 5 years. The people that carry the company flag have been there a while, they are making more $$ and have more respect by peers.

Bravo PB!  I would agree that EDJ has a niche market and is a VERY ethical company toward the client.  It's the brokers who get the brunt of questionable tactics.  1,2,3 people under 5 years can't pay the bills! 

And STUCK!  I was you my friend.  Man, was I you.  I was sending resumes out left and right to return to my old career (Target, not Walmart ).  And once PDP was done, I stopped door knocking and started seminars.  Segment 3 in 12 months.  EDJ is a great place to "earn your stripes".  Go knock away and build a prospect base, then think about changing.

Seg 3 in 12 months is incredible…were you new new?

Yes.  And I haven't had that average over another 4 month period since. 

I thought EDJ was an integrity rich company, but the undisclosed haircut on insurance products has me angry. 

Dear PBroker and ReadyJump,

Thanks for the input.  Maybe I went a little too far with the "more ethical firm" comment.  I actually do respect the company, but just think that down the road I probably want to be somewhere else.  I'm going to take both of your advice and stick it out a while.  Maybe 3 years or so from now I'll switch over, but for now I'm going to just focus on the prospecting and see where it goes...thanks

Good to hear stuck! Keep on pluggin…by the way the job still kinda stinks after 3 years (not just w/Jones but every firm) It just takes time to build a client base and referrals etc. Between years 3-5 the job gradually gets better. 5-10 pretty good 10+ Really good 20 + sit back and enjoy the ride.

Good to hear stuck! Keep on pluggin...by the way the job still kinda stinks after 3 years (not just w/Jones but every firm) It just takes time to build a client base and referrals etc. Between years 3-5 the job gradually gets better. 5-10 pretty good 10+ Really good 20 + sit back and enjoy the ride".

Very accurate....

[quote=Ready2Jump]

Yes.  And I haven't had that average over another 4 month period since. 

I thought EDJ was an integrity rich company, but the undisclosed haircut on insurance products has me angry. 

[/quote]

I am glad to hear that you reconsidered your decision. The business gets a little better every year. I have a client that I was talking to last week who plays bridge every week, I asked if I can sponsor the bridge club... 4 Referrals already. Referrals will make your business better and they take time to develop... Good luck.

[quote=noggin]

I am glad to hear that you reconsidered your decision. The business gets a little better every year. I have a client that I was talking to last week who plays bridge every week, I asked if I can sponsor the bridge club... 4 Referrals already. Referrals will make your business better and they take time to develop... Good luck.

[/quote]

Yes the business does get better every year.  As is my theme, that would be because you're getting older.

There are too many case histories for it to be simply my opinion, but here's some reality.

Bill starts when he's 23, Bob starts when he's 33.

When they're both 38 Bob's book will be as large, or larger, than Bill's.  Bob will have fewer, but larger, accounts because he was older when he opened them.

One of the pitfalls inthe industry is the relationship between the size of the account and the amount of time it demands.  Essentially everybody in your book is entitled to "X" amount of your time.  The fewer accounts you have the more time you have to look for more accounts, or to play golf.

If you wait till you're older to start to scramble for accounts you will find that your average account size is greater, meaning more time for  you.

If your goal is to take Fridays off, is it better to have two $500,000 accounts to service properly, or twenty $50,000 accounts?

It's a marathon, not a sprint, and there is no rush to get started.  Being young is the biggest handicap in the industry, so why in the world would you want to rush into it when you're young?

When you're 23 if somebody wiser and smarter says to wait till you're 33 you respond with some variation of "My God, that's half my life."

Yes, it is half of your current age, but when you're 33 it will have only been 1/3 and when you're 43 it will have been 1/4 and so forth.

You cannot overstate the importance of having credibility and its like to ultimate success.

The argument against starting when you're 23 even though you have no credibility, and growing into the position is that you fail before you get a chance to grow into the position.  Then one day you wake up and look at that twenty-eight year old face in mirror, straighten your tie and go off on an interview, wondering what if you could have made it as a financial advisor if you hadn't been so young.

Above it is mentioned that Noggin asked to sponsor a bridge club.  Anything you can do to build a relationship is worthwhile.

What does sponsoring a bridge club entail?  My 84 year old mother plays in two bridge clubs, one with sixteen women and the other with twelve.  Among the oldsters bridge is a big deal, they grew up before Nintendo.

Nog, I’ld love to hear more about that as well.

HOw did you sponsor the bridge club.  Refreshments? And what did you do there, mingle with the ladies or make a presentation.

I agree with you that many people who start young fail out.  Age is a factor, but I believe the need to succeed is much less for 20 somethings.  For them their might be something better if they dont make it, and also they have less financial responsibility, so they dont NEED to make it.  That being said if you make it young and do succeed. By the time your 40 I would imagine your on cruise control for the rest of your life.

[quote=stuckatjones]Oh, and as far as the client loyalty concern, I'm not planning on taking any clients with me.  We aren't allowed to have "clients" at this point, just "contacts".  We can't even talk about financial topics with the people we come in contact with.  I'm not even allowed to give anyone any information (like phone number, address, etc) about me other than my name![/quote]

I feel your pain.  That is horrible. If you pursue a firm like RJ or AGE they may offer to pay the training cost for you.  EDJ brokers are coming to RJ in droves. 

But, most of them have a good revenue stream and assets under management.  It is worth the try.

[quote=maybeeeeeeee]

 EDJ brokers are coming to RJ in droves. 

[/quote]

Somebody get the WSJ on the phone.  That is filled with potential for a front page story.

I wonder how many is a drove?  And how many droves are coming to Ray Jay.

Be careful what you say Big Easy…knowing the Journal these days, they’d publish it

Big Easy posted:

"Bill starts when he's 23, Bob starts when he's 33.

When they're both 38 Bob's book will be as large, or larger, than Bill's.  Bob will have fewer, but larger, accounts because he was older when he opened them"

 You've got to be smoking crack.  I started when I was 24, 10 years later, I manage over 100 million. By 38 I should be near 150 million.  Are you saying Bob could put together a book of 150 million in 5 years?  rediculous.

[quote=rankstocks]

I started when I was 24, 10 years later, I manage over 100 million. By 38 I should be near 150 million.  Are you saying Bob could put together a book of 150 million in 5 years?  rediculous.

[/quote]

I don't believe you.

[quote=rankstocks]Big Easy posted:

"Bill starts when he's 23, Bob starts when he's 33.

When they're both 38 Bob's book will be as large, or larger, than Bill's.  Bob will have fewer, but larger, accounts because he was older when he opened them"

 You've got to be smoking crack.  I started when I was 24, 10 years later, I manage over 100 million. By 38 I should be near 150 million.  Are you saying Bob could put together a book of 150 million in 5 years?  rediculous.

[/quote]

Rank,

How much of that 100 million was given to you?  Maybe you took over a Jones office of someone that retired?  I don't believe for a second that you built 100 mill from scratch at Jones.  Every top producer that I knew at Jones would take over a 30-50 mill office then five years later show up at a regional meeting bragging about their 60 million book!

[quote=rankstocks]Big Easy posted:

"Bill starts when he's 23, Bob starts when he's 33.

When they're both 38 Bob's book will be as large, or larger, than Bill's.  Bob will have fewer, but larger, accounts because he was older when he opened them"

 You've got to be smoking crack.  I started when I was 24, 10 years later, I manage over 100 million. By 38 I should be near 150 million.  Are you saying Bob could put together a book of 150 million in 5 years?  rediculous.

[/quote]

I am calling Bull Butter on this one.

$100 Million??!! Not in your wildest wet dream.

Brokers at Jones with 10 years seniority and $100 Mil AUM have a pace they must adhear to in order to keep up. They have learned about the industry in which they work. You, on the other, continue to bore us with your spewed comments in splices that lack credence, intelligence or any original thought.

Your posts are ignorant, arrogant and stink of a struggling Segment II broker on goals.

You, Mr. Rankstocks are an LP Wannabe. That's it.

By the way, Mr. Big Easy Flood-

Question here:

You said "Bill starts when he's 23 and Bob is 33....

When they're BOTH 38....

Did you leave out the part about Bob getting frozen for 10 years in Dr. Evil's Floating Space Laboratory that resembles the Big Boy? Then Austin Powers comes to restore his mojo so that Bob can have one as big as Bill?

I'm glad everyone here judges so well.  Too bad you are all wrong.  A mental dwarf can build a book to over a 100 million in 15 years, it takes motivation to do it from scratch like I did in around 10.  I did take over an office, but all the assets were gone.  I'm in my mid-thirties, and started around 11 years ago.  I manage over 100 million, and have done it ALL MYSELF.  Nothing was handed to me, I didn't fall into any assets, just hard work. 

Munytalks, one on one with a potential client, I would absolutely smoke you.  Part of being a great money manager is knowing the weaknesses of different products as well as other firms.  I know my firm has it's weaknesses, as does yours.  How you subtly let your clients know these weaknesses without offending them is an art. 

As for Big Easy, live in your dream world.  If you really believe when both brokers are 38 the one that started 10 years later will manage more money, you are truly a fool.

[quote=rankstocks]

I'm glad everyone here judges so well.  Too bad you are all wrong.  A mental dwarf can build a book to over a 100 million in 15 years, it takes motivation to do it from scratch like I did in around 10.  I did take over an office, but all the assets were gone.  I'm in my mid-thirties, and started around 11 years ago.  I manage over 100 million, and have done it ALL MYSELF.  Nothing was handed to me, I didn't fall into any assets, just hard work. 

[/quote]

The Internet is a wonderful place--you can be anything you want to be.

Until you've been around the business for a long time you will not appreciate how many people lie about anything and everything.

Why just on this forum alone we have people who claim to have scored in the 90s on Series 7 even though they didn't study.

We have a guy who washed out at UBS, went "indy" and then claims that he took scarce capital and joined a country club instead of leaving it in the bank as a "nest egg" in case his new practice did not get off the ground as quickly as he hoped.  Can you imagine?  Would you tell any client to join a country club while they were trying to start up a business?  Who among us thinks that going indy is going to take so few hours that there will be time to use a country club membership?

And in this soul we have a guy who claims to have gathered an AVERAGE of $1 million per month, starting at the very get go when he was right out of school.  What's the point of lying like that?  Perhaps it's because if he were to say something like that to his friends in the real world they would, in unison, demand that he pay back the money he's been borrowing from them?

[quote=rankstocks]

I'm glad everyone here judges so well.  Too bad you are all wrong.  A mental dwarf can build a book to over a 100 million in 15 years, it takes motivation to do it from scratch like I did in around 10.  I did take over an office, but all the assets were gone.  I'm in my mid-thirties, and started around 11 years ago.  I manage over 100 million, and have done it ALL MYSELF.  Nothing was handed to me, I didn't fall into any assets, just hard work. 

Munytalks, one on one with a potential client, I would absolutely smoke you.  Part of being a great money manager is knowing the weaknesses of different products as well as other firms.  I know my firm has it's weaknesses, as does yours.  How you subtly let your clients know these weaknesses without offending them is an art. 

As for Big Easy, live in your dream world.  If you really believe when both brokers are 38 the one that started 10 years later will manage more money, you are truly a fool.

[/quote]

"...a great money manager" ?  You can't seriously consider yourself a money manager at Edward Jones, that is a total joke.  Having seven, oh sorry its eight now, fund families and nothing but large cap stocks offered only on a commission basis is hardly money management.  Rank, you are a bigger joke than that "firm" of yours!

[quote=Gone Indy][quote=rankstocks]

I'm glad everyone here judges so well.  Too bad you are all wrong.  A mental dwarf can build a book to over a 100 million in 15 years, it takes motivation to do it from scratch like I did in around 10.  I did take over an office, but all the assets were gone.  I'm in my mid-thirties, and started around 11 years ago.  I manage over 100 million, and have done it ALL MYSELF.  Nothing was handed to me, I didn't fall into any assets, just hard work. 

Munytalks, one on one with a potential client, I would absolutely smoke you.  Part of being a great money manager is knowing the weaknesses of different products as well as other firms.  I know my firm has it's weaknesses, as does yours.  How you subtly let your clients know these weaknesses without offending them is an art. 

As for Big Easy, live in your dream world.  If you really believe when both brokers are 38 the one that started 10 years later will manage more money, you are truly a fool.

[/quote]

"...a great money manager" ?  You can't seriously consider yourself a money manager at Edward Jones, that is a total joke.  Having seven, oh sorry its eight now, fund families and nothing but large cap stocks offered only on a commission basis is hardly money management.  Rank, you are a bigger joke than that "firm" of yours!

[quote=Big Easy Flood][quote=rankstocks]

I'm glad everyone here judges so well.  Too bad you are all wrong.  A mental dwarf can build a book to over a 100 million in 15 years, it takes motivation to do it from scratch like I did in around 10.  I did take over an office, but all the assets were gone.  I'm in my mid-thirties, and started around 11 years ago.  I manage over 100 million, and have done it ALL MYSELF.  Nothing was handed to me, I didn't fall into any assets, just hard work. 

[/quote]

The Internet is a wonderful place--you can be anything you want to be.

Until you've been around the business for a long time you will not appreciate how many people lie about anything and everything.

Why just on this forum alone we have people who claim to have scored in the 90s on Series 7 even though they didn't study.

We have a guy who washed out at UBS, went "indy" and then claims that he took scarce capital and joined a country club instead of leaving it in the bank as a "nest egg" in case his new practice did not get off the ground as quickly as he hoped.  Can you imagine?  Would you tell any client to join a country club while they were trying to start up a business?  Who among us thinks that going indy is going to take so few hours that there will be time to use a country club membership?

And in this soul we have a guy who claims to have gathered an AVERAGE of $1 million per month, starting at the very get go when he was right out of school.  What's the point of lying like that?  Perhaps it's because if he were to say something like that to his friends in the real world they would, in unison, demand that he pay back the money he's been borrowing from them?

Hello,

I am looking to become an Internal Wholesaler at a Mutual Fund Company where I would need my licenses.  I've been with Jones since 11/2009.   This side of the business is not for me.  At the mutual fund company, I wouldn't be engaged in solicitation of clients, nor would I be a Financial Advisor.

Will Jones come after me for training costs?  

I figure that it's not engaged in selling securities or insurance, so I would assume no.  Please let me know either way as soon as you can.

I left EJ about ten years ago after 18 months of employment with the firm and and settled the $75K training fee for $3,000 and $3,500 in attorney fees.  I then took $18M of my clients assets with me to become independant.  Payout went from 38% to 90% overnight.  Of course I lost my EJ fully taxed two trips a year which I was getting charged top dollar for out of my commission checks.  I never looked back.  To date $112M in AUM and loving every miniute of the 90% payouts!  EJ has great newbee training but you'll never get rich working for the general partners unless you become one.

If you have a series 7 and 63 and live in NYC then we need to talk. I'm gonna add to my desk. (yes I know this is vague.. I can't go into too much detail on a forum for compliance reasons) We are one of the fastest growing firms in the country with multiple offices around the world. Please pass this around to anyone you know who qualifies. NO OPENING ACCOUNTS FOR A SENIOR!!! email resumes to [email protected]