My EDJ Journey Begins

ugh

1.  Your MBA will be utilized perfectly in this career

[quote=3rdyrp2]1.  Your MBA will be utilized perfectly in this career

Is this some new marketing thing? “the Edward Jones Journey”?



Btw- I noticed you said that most employers don’t care about your MBA - neither does Jones.



For some advice. Phone interview is cake. They ask you about specific things you’ve done, and hypotheticals. Pretty easy stuff.



If you can speak without a tele-prompter you should get hired.

Edward Jones Recruiting Staff…slow Monday

Borker you are going to have a blast at your summer regional !

Hey Guys, for a change of pace, why don’t we just say “good luck” and give the guy a few good ideas.  Everyone seems to agree that Jones is a great place to start your career, so rather than turn this into another Jones punching-bag thread, just give the guy some tips.  He seems to have his head on straight, and waht are his alternatives?  BAC? Morgan/SB? WFA?  Not many clear-cut options right now, and starting your advisory career with an indy firm is not always an option.  Just a thought…

I don’t think anyone thinks this guy is real…seeing as there have been like 4 “I just got hired by EDJ, woohoo!!!” threads started in the past 3 days.  What fun is giving tips when we can act like blowhards to a fake screenname?

[quote=Borker Boy]

I’d like to thank the people who have been helpful.  I appreciate your comments.

1. Is the training at EDJ really that good?  I used to be a sales trainer in pharma and knew full well, that there was a huge difference in reality between the way we trained and the way we actually sold.  Is this the case with EDJ?

2.  Does anyone have the list of questions you are supposed to go around and ask people around town for the “pre-employment surveys” or whatever it is they call them?

3.  Is the failure rate for new FA’s at EDJ as high as everywhere else?  Anyone know what it is?

4.  How many posts do I have to make before people think I am real?  Then again, does it really matter so much?  How do I know that the people who flame me are real?  Ok, those are rhetorical questions.  I’m not really looking for an answer…

Thanks for your help!

You're probably 100% real.  I'm sorry for offending you.  The reason I thought that way was the link to click on this thread has that winking smily face, you have a giant smiley face as an avatar, you put smily faces at the end of your posts, and it seems odd that a former military officer with an MBA makes posts that seem so fruity.  Again, my apologies.

Don’t Ask - Don’t Tell!!

I was trying to replace a 100k a year job also. I would say on average it takes 5 years to get there at EJ.

I’ll take it under advisement that smileys = homosexual.  Fortunately, I am already married, so I am not in the dating marketplace.  FYI, I was in the military while we were still in the “don’t ask, don’t tell” transition.  I remember when the order came down that we had to quit using certain “potentially offensive” terminology.  We used to use these canvas map cases that were referred to as “fag bags” because certain people thought they resembled purses (note that the Infantry is all male).  When the mandate came down to stop using the term, everyone began referring to the map cases as “alternate lifestyle bags.”  I think they were missing the point… but I digress.

Yes, I realize the FA job is hard starting out… but so is leading 30 soldiers through a minefield.  I know I will survive… not because I have all this great skill, talent or education.  I will succeed because I HAVE TO.  There is no other option.

To those who can offer advice, I truly appreciate it.  To those who want to flame me, please go ahead.  I mean… you have to face tons of rejection in this business, right?  I might as well get used to it.  Actually, your scorn will help motivate me. 

A friendly word of advice.



If and when you become registered, you will realize that in this industry anonymity on online forums like this is essential, if for no other reason than the regulators - and hence your compliance folks - can come down on you like the proverbial ton of bricks.



You have already given enough personal information to allow someone within EDJ (or any firm you might work for) to identify you, and that is something you do not want to do. If you are serious about this business, I would urge you to make a fresh start here with a new username, and fight the urge to share such personal information.



FWIW, even though the vast majority of new news fail, you sound to me like someone who has the potential to be among those few who beat the odds. I wish you the best of luck, and I thank you for your service to our country.

Thanks for the advice. I took some info off my posts… am i still revealing too much about myself?  I guess I’m not used to the need for anonymity because I have nothing to hide… but I clearly understand your point.

I guess I should start over with a new profile… but I don’t look forward to having to prove my existence all over again.

Well, it’s live & learn i guess!

Cheers!

I would still delete some of the stuff particular to you if you want to be safe rather than sorry. If you do that quickly you should probably still be OK with your current username.



The regulation/compliance part of this industry is probably unlike anything you’ve experienced before - it’s not a matter of you not feeling you have anything to hide, it’s that NO ONE wants to be identifiable to their compliance department. Period. And how long do you think it would take someone who WANTED to determine your identity at your (soon to be) firm given the particulars you have mentioned about exact experience and background? Not long, I can assure you.



It’s stupid - no doubt - but you need to stay under the radar from a compliance standpoint in this industry.



Besides, you can make your points and ask your questions while remaining more vague about your precise details. Need to know basis - roger that?

Ok, I cleaned up my posts… I feel much more anonymous now…

I know you’re frustrated now, but one day you’ll thank me.   

No, not really frustrated… well, maybe with myself for my ignorance.  I appreciate the advice… I’d much rather deal with looking dumb today that have to deal with the consequences of being dumb after I launch my career!

Like you, I’m previously active duty military with an MBA and posted many comments like yours on this forum before being hired by Jones. Listen to everyone when you are being told that it is tough because it is. I blazed through my 7,66,and Insurance exam and was the talkative one in KYC destined for EDJ glory. Just be ready for your door knocking days. Would you be willing to eat a 52 Gallon Barrel of dog sh%t each year to discover and open 120 accounts annualy. Are you prepared to do that for at least 2-3 years? Is success possible? you bet. Is it tough? Very. Military personnel are pridefull and rejection effects us the worst. Learn to deal with it now and move forward each day.

Bastermind80, thanks for your candor.  I appreciate it. i am going into this with no delusions and I realize that this will be tougher than I can imagine in many ways.  The fact is… my options are limited at this point and this really seems to be the best option for me.

I have had numerous crappy sales jobs in my past and have done very well… used cars, telephone long distance, newspaper subscriptions… I even once sold light bulbs and vacuum cleaners door to door (not at the same time).

I can crawl through the mud for quite a long time… as long as I can see the end in sight.  If I know that I have to endure eating dogsh** for 3 years, but I can upgrade to cat puke after that, I will be okay.  When I get down, I just pull out the old Zig Ziglar/TonyRobbins/Joe Girard tapes and get the boost I need.

Yea cold calling sucks… but you know what sucks worse? Losing my 3,000 square foot house and telling my wife and kids we can’t order Little Ceasars Pizza tonight because we can’t afford it.

I had to live out of my car once as a teenager and it wasn’t fun.  Those memories provide great fuel for my motivation engine.

Cheers!

This guy has been a pharmaceutical rep, sold used cars, telemarketed for a phone company, sold newspaper subscriptions, sold lightbulbs and vacuum cleaners door to door and been a military officer?  How old are you, 60?  And you live in a 3,000 square foot home???  How can you possibly say that you’re willing to continue to “crawl through the mud for quite a long time” when you’ve had probably 5 of the worst jobs in America, somehow got an MBA (paid for with your lightbulb income, I’ll presume) and served in the military?  Don’t you think you are at the point now where you’ve crawled through the mud 5 times longer than anyone else on Earth and should now be profiting off of your work?

Yes… I should be done with the garbage jobs… but life had it’s
twists and turns. To clarify… I sold light bulbs as a kid before I
was old enough to get a work permit. I sold newspapers, cars, long
distance, and vacuum cleaners at various points throughout my college
career.

Finally,
after I served in the military, I got a stable pharma job and moved up
into sales and marketing management.  Yea… I thought I was done… got
a big house… drove a big Hummer and went on cool vacations.

Then
I got a pink slip… I have tried for months to get a job similar to
the caliber I was at… no luck… then I stated looking for $80K
jobs… no luck… then $65k jobs… no luck.

This is when I
decided that the only way to reclaim a decent income would be to start
over in financial services.  I really don’t want to lose my nice home. 
The three-car garage and wrap-around porch are nice amenities I never
had when I was living out of my car at age 17.

Sometimes you gotta do what you gotta do…


(BTW, I know that my life story is so crazy it seems unbelievable.  I wouldn’t believe it myself if I wasn’t forced to endure it.  I just want a normal life and to be able to take care of my family!)

I was at Jones for 14 years and left a couple of years ago to go Indy.  I’m a retired military officer too! NAVY!  Anybody can land on a Runway!  Listen…Jones is a good place to start and maybe stay for retired military.  I wanted to go Indy and I have enjoy the freedom…but I have no real problems with Jones.  You can make a lot more there than we did in the Military…however, it is nice to still have that monthly pension (The rest of you folks keep paying your taxes) and the TRICARE medical.

[quote=Roadhard]I was at Jones for 14 years and left a couple of years ago to go Indy.  I’m a retired military officer too! NAVY!  Anybody can land on a Runway!  Listen…Jones is a good place to start and maybe stay for retired military.  I wanted to go Indy and I have enjoy the freedom…but I have no real problems with Jones.  You can make a lot more there than we did in the Military…however, it is nice to still have that monthly pension (The rest of you folks keep paying your taxes) and the TRICARE medical.

MBA2FA

I started at Jones over 5 years ago and left earlier this year to an Independent firm, so I can comment on some of your questions.

1.  The training at EJ was good, but I have nothing to compare it with because they were the only ones who trained me.  I was successful in the business and made a good living and qualified for diversification trips while I was with Jones.  If you do the things they ask you to do, ie doorknocking, making 25 contacts per day, etc. then you will be successful. 

2. I agree that the list of questions is a non-issue.  They just want to be sure you can talk to people you don’t know without freezing up.

3. I can tell you the failure rate is high in this business, whether you are with Jones or another firm, I don’t think it makes much of a difference.  After 5 years in the business, there were only 4 people left from my original training class of 13.  It’s hard work and some people can’t handle the pressure.

4.  You can write as many posts as you want, and as long as you maintain your anonimity some people will never think you are real.  Who cares, use the advice you want and discard all of the rest. 

I wish you all the best, even if you choose to carry an “alternative lifesyle bag”!

Lapide

A vet in my region said to approach EDJ with the same kind of simple-mindedness of Forest Gump. Everyone you see…“Hi, my name is ______” as many times as possible all day. Don’t overthink it, just knock on doors until you bleed and you will build a huge prospect base. Then two weeks later, call them back offering some basic investment in anticipation of them saying no in order to uncover assets, money dues, referals, and an appointment. If you get none of those you at least further your relationship with them. This job is both simple and difficult. If you can maintain your positive attitude while getting kicked in the nads all day you’ll do great.

Overthinking will be my greatest challenge.  I mean… I’m a military guy… I’m all about strategy.  I fear getting caught up in trying to refine my pitch, optimize my doorknocking schedule and routing, etc…

My plan (for starters) is only to measure number of contacts at first and go for a high number with the knowledge that everything else will eventually follow.  Instead of trying to worry about pitches, etc… I first need a bunch of people to pitch my stuff to.

Is there a standard ratio people go by at EDJ for DK’s --> Clients?

As in: 7 DK’s = 1 Contact,  5 contacts = 1 Appointment, 3 Appointments = 1 Close

…just curious

There is no standard ratio at Edward Jones.  They want you to make “25 real contacts per day”.  Those can be face to face or on the phone.  It “counts” if you are able to have a conversation with them and ask them to buy an investment or get some type of information from them.  I wasn’t really comfortable asking people I had just met to purchase an investment using the standard line–“if you have the money available you should buy some of this today”, so my goal was to make an appointment or get permission to call them back so I could  find out some kind of financial information.  It’s all a numbers game, talk to as many people as possible and you will be successful.

Lapide

I'm no longer with EDJ, but when I was door knocking for the 25 contacts, it would somtimes take over 125 knocks.  If you actually find people at home and are good on the doors, one in three people you meet will become a contact.  Of your contacts, probably only 1-2 out of 25 will become a client.  That was my focus - out of 25 contacts, try to get a couple of accounts opened. 

Prospecting is grunt work, and the follow up is where strategy comes into play. No point in over thinking what to say, how to pitch, etc. Just walk and knock, and meet your goals (whether it is EJ’s 25, or a higher standard you set for yourself). You are trying to meet people in your community, not sell at the door. Follow-up is where someone can take a more strategic approach, via pitch, etc. This, I believe, is true for most sales in this career, regardless of the firm…

BTW… decent thread on this topic…

Borker you are going to have a blast at your summer regional !

HAAIC–if you had ever served you’re country in uniform you would have know that the rank goes IN FRONT of the name!  Which country? 

HAAIC–if you had ever served you’re country in uniform you would have know that the rank goes IN FRONT of the name!  Which country? 

Relax, dude. It’s not like you were in the Army, Air Force, or Marine Corps.

My criminal background check finally came back clean (surprise surprise) and now I move on to the next phase of the interviewing process (woohoo)!

As you EDJ veterans know, now I have to do the surveys.  Before I go out, they want me to commit to a number of how many I will do.  The minimum is 15, but my guess is they are giving me an opportunity to shine here.  On the forms I have, there are room for 38 surveys.  Should I commit to this many or does it matter that much?

Considering part of the recipe for success is 25 quality contacts a day, that’s what I committed to.  I’m sure 38 would be looked upon very highly though… I don’t think they’ll be like “Oh look, and over achiever.  We don’t like those.”  If it means anything, I was offered the position having done 26.

[quote=MBA2FA]My criminal background check finally came back clean (surprise surprise) and now I move on to the next phase of the interviewing process (woohoo)!

As you EDJ veterans know, now I have to do the surveys.  Before I go out, they want me to commit to a number of how many I will do.  The minimum is 15, but my guess is they are giving me an opportunity to shine here.  On the forms I have, there are room for 38 surveys.  Should I commit to this many or does it matter that much?


[/quote]

I don’t know what your survey entails, but I assume it’s prospecting practice on people you know.  If this is the case, it’s a great opportunity to approach people to ask their help and advise.  You won’t have another opportunity to approach these people and have them be as laid back as they will be with you now, after-all you’re not licensed and can’t sell them anything and they know this.  Share your story and get permission to come back when you complete your training.  If they won’t do business with you they will probably at least be a center of influence and introduce you to others if they tell you you’re welcome to come back 4mo from now.

Great advice Cheesehead. Great original thoughts.

I went out this morning and started knocking on doors!
In 2 hours time:
I knocked on 44 Doors
21 people were not home
10 people didn’t want to answer the survey
13 people completed the survey (8 of these people gave me their phone number)

Are my results typical so far?

I went out this morning and started knocking on doors!
In 2 hours time:
I knocked on 44 Doors
21 people were not home
10 people didn’t want to answer the survey
13 people completed the survey (8 of these people gave me their phone number)

Are my results typical so far?

Ok, so here are final numbers:
Elapsed time: 4 hours
44 residential knocks
14 Business knocks
21 people were not home
10 people didn’t want to answer the survey
27 people completed the survey (19 of these people gave me their phone number)

I talked to a local FA who was impressed with the survey completion ratio.  It turns out that he was knocking on these same doors a few months ago with limited success.  I hope my interviewer likes my ratio too!

[quote=MBA2FA]
Ok, so here are final numbers:
Elapsed time: 4 hours
44 residential knocks
14 Business knocks
21 people were not home
10 people didn’t want to answer the survey
27 people completed the survey (19 of these people gave me their phone number)

I talked to a local FA who was impressed with the survey completion ratio.  It turns out that he was knocking on these same doors a few months ago with limited success.  I hope my interviewer likes my ratio too!


[/quote]

Those numbers look bogus to me.  58 total knock, 37 “contacts”  In 12 weeks of door knocking I never had a day like that and never sniffed 1/2 of that in four hours.

You better up the knock rate for St. Louis.

Yeah those numbers are pretty high. The majority of people were home? Thats odd I would think. It took me 92 knocks to get 32 surveys completed, only had 3 rejections (one was a non english speaking household) and 26 phone numbers all in 6 hours which I still thought was a lot of people to be home mid day. From the time stamp of the day you would have been out around the same time I was then. Were most of your phone number contacts business knocks then?

Having knocked on about 2500 doors I’m calling BS … Just adjust your #s for St. Louis, they don’t check.

Unless you went to a retirement community or townhouses.

The “You are a liar” comments never cease to amaze me.

I need a job.  Why would I jeopardize that by lying about my contacts?  That is the stupidest thing I have ever heard.  I don’t know why people were home.  Most of them were retired, worked from home, or were housewives.

Only 14 of the surveys completed were residential.  I did those first thing in the morning.  I called on businesses in the afternoon.

All but one of the businesses I went to completed the survey.  Why is this so odd? Do small business owners usually throw you guys out the door?

Are you insinuating that I should lie about my number of knocks to make the numbers look more realistic?

Maybe I should quit asking for honest advice here.  I have never seen a forum that flames people so much.  I was just looking for a little feedback.

Never called you a lair but from a position of experience those contact metrics are out of whack.  If they are correct then it will probably be the best day of door knocking you’ve ever had.  Good luck in the process.

Thanks.  There were WAY more people home than I expected.

I also failed to mention that there were at least 15 houses that had “no soliciters” signs in the windows.  In most cases, it looked like nobody was home in these houses.  If I had knocked on these doors, my contact ratio would have gone way down.

Obviously, I did not knock on these doors, nor did I count them as DK’s.  I didn’t feel like having the cops called on me.  I was warned that a few local FA’s have had a few problems with the local authorities, so I played it safe.

.

Maybe I should quit asking for honest advice here.  I have never seen a forum that flames people so much.  I was just looking for a little feedback.

By the way… they don’t check the surveys… They just want to know if you attempted to complete them…

[quote=chief123]By the way… they don’t check the surveys… They just want to know if you attempted to complete them…[/quote]

But if you don’t do the surveys you’re just hurting yourself with fewer people to call when you get your license.  It’s like cheating on homework in preparation for a test…

MBA Good luck on your journey. With a lot of determination and hard work

you can make this work. I started with EDJ approx 4 yrs ago, and it has

been a great ride for me.

Thanks.  There were WAY more people home than I expected.

I also failed to mention that there were at least 15 houses that had “no soliciters” signs in the windows.  In most cases, it looked like nobody was home in these houses.  If I had knocked on these doors, my contact ratio would have gone way down.

Obviously, I did not knock on these doors, nor did I count them as DK’s.  I didn’t feel like having the cops called on me.  I was warned that a few local FA’s have had a few problems with the local authorities, so I played it safe.

[quote=MBA2FA]Thanks.  There were WAY more people home than I expected.

I also failed to mention that there were at least 15 houses that had “no soliciters” signs in the windows.  In most cases, it looked like nobody was home in these houses.  If I had knocked on these doors, my contact ratio would have gone way down.

Obviously, I did not knock on these doors, nor did I count them as DK’s.  I didn’t feel like having the cops called on me.  I was warned that a few local FA’s have had a few problems with the local authorities, so I played it safe.

[quote=BerkshireBull]

[quote=chief123]By the way… they don’t check the surveys… They just want to know if you attempted to complete them…[/quote]

But if you don’t do the surveys you’re just hurting yourself with fewer people to call when you get your license.  It’s like cheating on homework in preparation for a test…
[/quote]

lol … but this guy does not work/worked for Jones.  yawn

Mandatory viewing:

http://www.youtube.com/watch?v=XUOS7GvCRQI&feature=PlayList&p=9E8C8D65F5702578&playnext=1&playnext_from=PL&index=48

[quote=voltmoie]

[quote=BerkshireBull]

[quote=chief123]By the way… they don’t check the surveys… They just want to know if you attempted to complete them…[/quote]

But if you don’t do the surveys you’re just hurting yourself with fewer people to call when you get your license.  It’s like cheating on homework in preparation for a test…
[/quote]

lol … but this guy does not work/worked for Jones.  yawn
[/quote]

The application of common sense would lead one to believe that more warm prospects = more sales.  It’s a numbers game, and Jones isn’t the only firm in the industry that has recruits do something along these lines.

Well folks, I aced the interview and was basically told to be anticipating the offer call from the home office any day.

As far as the surveys go, my suspicions were correct in that they don’t do anything with them, nor do they expect me to do anything with them.  they were a nice discussion tool to see my overall reactions to the Jones prospecting process.  At the end of the interview, the interviewer asked if there were any contacts that I felt that I would really want to follow up with.  I said there were a few promising ones, so they gave me photocopies of my sheets.

At any rate, I will most likely not even be working in the area I prospected in anyway.  I was told to only prospect in an area that didn’t require a solicitor’s permit.  Since there was only one area near me that met the requirement, I was a bit limited.

The interviewer volunteered to serve as my personal reference in my search for a Goodnight.  Does anyone have any advice on the best way to network/lobby to try and land one of these?  Is it appropriate to directly ask FA’s if they would consider doing one with me?

What is Jones handing out Gooodnights to everyone??

I just got the phone call for my official offer with EDJ.  I’m waiting on the official paperwork to be sent to me tomorrow.

This seems out of order, but I am still waiting to hear from the corporate people to settle on a specific location.  It appears that there are no GK’s available anywhere near me.

The only thing I know about is an open office (no assets) in a business/commercial area.  The actual city has only 5,000 residents.  There are residential areas on all sides, but there are also EDJ offices on all sides.  In fact, the way the city is laid out, most of the 5,000 residents live closer to EDJ offices in surrounding areas.

Basically, this office is in the middle of everyone else’s back yard.  Virtually everywhere I can prospect will be in an area that is closer to another office.  The office is near a high-traffic intersection, but that’s about it.  The surrounding office parks are all security key-coded, so I can’t even prospect there.

Sure, having an office is a nice advantage, but is this worth it?

An office to go to is ALWAYS better than working out of your basement.

[quote=chief123]What is Jones handing out Gooodnights to everyone??[/quote]


1. Their research shows that GKs have a much higher success ratio, especially in metro areas. New-new is a recipe for failure.
2. They want to force the Seg 3 and 4s to get rid of their junk accounts and to focus on their best clients (get them into Advisory Solutions and sell them insurance … JW sneers every week at the rank and file of this firm).
3. Speculation on this one: They want to expand their hiring pool beyond college grads and the guy or gal who got laid off by Pfizer and they know they can’t attract top talent to start from scratch.

I just got the phone call for my official offer with EDJ.  I’m waiting on the official paperwork to be sent to me tomorrow.

This seems out of order, but I am still waiting to hear from the corporate people to settle on a specific location.  It appears that there are no GK’s available anywhere near me.

The only thing I know about is an open office (no assets) in a business/commercial area.  The actual city has only 5,000 residents.  There are residential areas on all sides, but there are also EDJ offices on all sides.  In fact, the way the city is laid out, most of the 5,000 residents live closer to EDJ offices in surrounding areas.

Basically, this office is in the middle of everyone else’s back yard.  Virtually everywhere I can prospect will be in an area that is closer to another office.  The office is near a high-traffic intersection, but that’s about it.  The surrounding office parks are all security key-coded, so I can’t even prospect there.

Sure, having an office is a nice advantage, but is this worth it?

Hank, what do you mean by “nice try”???

Anyway folks…  I checked out the vacant office and the location really sucks.  It’s in a beat up office building and has no store frontage to speak of.  You basically have to be visiting the other 5 or 6 offices inside the building to even know it exists.  I heard from one FA that the guy who was there moved into another vacant office because he hated the location so much.

I finally talked to the market area guy on the phone and he was kind of a jerk.  He wouldn’t tell me anything.  He wouldn’t tell me where open offices were or where open areas were.  He said I have to tell him where I want to go and he will tell me “Yes” or “no.”  It was really a stupid conversation.  I wanted to talk to my regional leader before picking a location, but he was tied up with regional meeting stuff, so he couldn’t sit down with me.

Someone told me that initial location isn’t too important because I can always try to get a GK or move into an open office if I impress people when I get started.  Hopefully, this is true.

Well, it looks like I have time for one last vacation before I get started with my Series 7 training.  Then I guess my life will suck for 2-3 years.  I guess things could be worse.  I could go back to being unemployed.

I think the jig is up, MBA.

I confess I don’t fully get the whole EDJ focus/obsession with the physical location of the office, but since that’s the way EDJ operates it is an issue, and if you proceed with this you are doing so knowing you have ignored multiple red flags:



1. Bad location, for the many reasons you yourself recognize and mention.

2. Unhelpful response from the "market area guy."

3. A supposed future “regional leader” who is too busy with ‘meetings’ to talk with you, much less help you.



How many strikes do you want to allow? Yet you might be willing to overlook these red flags … because “someone” told you that MAYBE one day, IF you defy the odds and survive the first few years, you MIGHT be rewarded with an office location that doesn’t suck?! “Hopefully this is true?!” Did this “someone” also promise you the regional leader might then not be too busy to talk with you about any of your concerns?



Listen, MBA, as I said I do not have any specific EDJ experience, but if you are expected to act like a business owner as is so often mentioned, then ask yourself: what business owner would receive this poor level of response/support from his key prospective business partners, and then proceed anyway?



And if you do ignore these red flags, you better expect much more of the same poor treatment from these people since you would have shown them that you are willing to accept pretty much anything they throw your way. If you settle now for something that “sucks” by your own description, why would you expect that to change with the passage of time? Because “someone” told you it “might?” Is that really the way you want to lead your life?



I know unemployment sucks, and you are anxious to try something, and that compared to unemployment anything looks good. But that is a false set of choices. It is not simply EDJ vs. unemployment; it is EDJ as presented vs. EDJ as it might be vs. other choices, including other broker dealers. The first option you find is not necessarily the best one.



It’s your life - there are no dress rehearsals. Good luck.

[quote=Morphius]I confess I don’t fully get the whole EDJ focus/obsession with the physical location of the office, but since that’s the way EDJ operates it is an issue, and if you proceed with this you are doing so knowing you have ignored multiple red flags:



[/quote]

No, I am not ignoring red flags.  I am addressing them.  Right now, I am against a wall.  It’s not that I am so anxious to take the first thing offered to me.  I am taking the only offer I have on the table.  I have several kids and a wife who is permanently disabled.  I have a substantial mortgage and our savings is rapidly depleting after numerous financial setbacks (completely outside of our control).  Unemployment will run out in a few weeks.  After that, I face losing my home shortly after.

No, I don’t like the treatment from the market area people, nor how I was blown off by the RL.  Unfortunately, I have no negotiating power here.  Nobody else is hiring in my area  (except life insurance companies).

I have worked in other sales organizations where the support was minimal at best, yet I thrived.  From my personal experience, many organizations treat you like garbage until you have proven yourself.

There have been many positive things as well… the fellow FA’s in my are have been very helpful and forthcoming with information.  They call me on a regular basis to see how I am doing.  They have bought me lunch, etc.  Even some BOA’s have talked with me at length on tips of navigating the EDJ culture and how to safely drink the Kool-Aid.

Addressing the 3 red flags you mentoned specifically: (1) Nobody is forcing me to use this bad location.  I asked about it, then decided to pick a better location.  (2&3) I have interacted with about 10 people from EDJ and the experience has been extremely positive with the exception of 2 people.  I am not going to risk losing my home and my marriage because I don’t like how two people treated me.

Morphius.  I appreciate your advice and know you mean well.  At this point, I’m not debating EDJ vs. other options.  I’m just trying to figure out how to make this Jones thing work.  I have some other jobs in my interview pipeline (in my industry) and if Jones turnes out to be garbage, I’ll jump ship the second I get another offer, but right now Jones is really my only option.

[quote=Morphius]I confess I don’t fully get the whole EDJ focus/obsession with the physical location of the office, but since that’s the way EDJ operates it is an issue, and if you proceed with this you are doing so knowing you have ignored multiple red flags:

[/quote]

No, I am not ignoring red flags.  I am addressing them.  Right now, I am against a wall.  It’s not that I am so anxious to take the first thing offered to me.  I am taking the only offer I have on the table.  I have several kids and a wife who is permanently disabled.  I have a substantial mortgage and our savings is rapidly depleting after numerous financial setbacks (completely outside of our control).  Unemployment will run out in a few weeks.  After that, I face losing my home shortly after.

No, I don’t like the treatment from the market area people, nor how I was blown off by the RL.  Unfortunately, I have no negotiating power here.  Nobody else is hiring in my area  (except life insurance companies).

I have worked in other sales organizations where the support was minimal at best, yet I thrived.  From my personal experience, many organizations treat you like garbage until you have proven yourself.

There have been many positive things as well… the fellow FA’s in my are have been very helpful and forthcoming with information.  They call me on a regular basis to see how I am doing.  They have bought me lunch, etc.  Even some BOA’s have talked with me at length on tips of navigating the EDJ culture and how to safely drink the Kool-Aid.

Addressing the 3 red flags you mentoned specifically: (1) Nobody is forcing me to use this bad location.  I asked about it, then decided to pick a better location.  (2&3) I have interacted with about 10 people from EDJ and the experience has been extremely positive with the exception of 2 people.  I am not going to risk losing my home and my marriage because I don’t like how two people treated me.

Morphius.  I appreciate your advice and know you mean well.  At this point, I’m not debating EDJ vs. other options.  I’m just trying to figure out how to make this Jones thing work.  I have some other jobs in my interview pipeline (in my industry) and if Jones turnes out to be garbage, I’ll jump ship the second I get another offer, but right now Jones is really my only option.

“I am taking the only offer I have on the table.  I have several kids and a wife who is permanently disabled.  I have a substantial mortgage and our savings is rapidly depleting after numerous financial setbacks (completely outside of our control).  Unemployment will run out in a few weeks.  After that, I face losing my home shortly after.

No, I don’t like the treatment from the market area people, nor how I was blown off by the RL.  Unfortunately, I have no negotiating power here.  Nobody else is hiring in my area  (except life insurance companies).”

Gotcha. Just trying to give you some requested feedback. Glad to hear you have some options on the office choice - I misinterpreted your comments to mean they were more or less bending you over. And I didn’t mean to imply that liking these guys was important, but it is important that your future regional leader care enough about you to be responsive to you when you have a legitimate concern/need.



Anyway, it sounds like you’re in a very tight situation financially and almost to the grasping at straws point, which I hadn’t fully understood. Sorry to hear that. Will the salary EDJ is offering for the first however many months be sufficient to keep you in your home? And how long before you are on straight commission?



Most new news wash out during the first 6-9 months or so after the salary goes away and they are on straight commission for the first time. That is when many decide they have no choice but to quit unless they have savings to draw on or have been able to dramatically lowered their monthly expense nut. You might need to use the breathing period when you are on salary to make some tough decisions about downsizing while you are in control rather than being forced into it. Besides the obvious problems with foreclosures and/or bankruptcy, you should know that in this industry such a development can directly imperil your ability to work in the industry at all. Just want to make sure you have the facts ahead of time.



I certainly wish you the best and hope you are one of the few to beat the odds.

[quote=anonymous]

[quote=MBA2FA] [quote=anonymous]

I think if you follow the recipe and have a decent enough personality you’ll make it … but it’s not easy.  MBA, I’m well above where I should be but it’s a tough gig and Jone’s does not pay great especially considering the business you’ll be writing when you get started. There are some guys in my training class doing everything they’ve been asked to do and FAILING.  It’s not easy!

For what it’s worth if I could have paid someone 2 grand to teach me when Jones taught me and go indy I would have.  Not a knock against Jones but they only thing they’ve helped me with is the 7 and the brand.  I’ve been on my own for the most part … training is a joke.

.

I don’t know if it’s BS, but EDJ sent me this pamphlet that states 89% pass the series 7, 90% pass training, and 70% pass the first year. This means that about 56% of new reps make it through year one. I can deal with those odds any day.

I’ll keep that in mind… The problem is… this IS plan B.

Actually, it’s more like plan G.  I didn’t spend over $100,000 on an MBA to have to start from complete scratch.  I have exhausted all options.  I’m sure there are those out there who will say that I am a liar or an idiot or whatever…  My story is too sad to make this stuff up.  Why would I brag that I have a top ranked MBA, but can’t get a simple job?

Until recently, I have been extremely successful at everything I have put my mind to do.  I think it’s based on neurosis caused by my mother.  I can still hear her voice saying, “You are a loser just like your alcoholic father.  You will never amount to anything!”  That’s what drove me to graduate cum laude, become an infantry officer, and earn a six figure income.

When people tell me I can’t do something, I just pretend it is my mother speaking, and somehow I accomplish the impossible every time.

I know that talk is cheap.  There is nothing I can do to convince you guys or anyone else that I am different and I will succeed.  I guess if I’m still around these forums in 5 years, that means I somehow made it.

As far as following the formula goes… I have had several years experience in sales and sales management.  I would say that anywhere between 50-80% of sales people do not actually do what they are supposed to do.  They think they have a better way than the company way… and they often fail.

I think that taking shortcuts and good ol’ fashioned burnout are the killers in most sales organizations.  I have ways of addressing both of these.  Did I mention that I am a damn good salesperson too?

" I would say that anywhere between 50-80% of sales people do not actually do what they are supposed to do. "

[quote=MBA2FA]I’ll keep that in mind… The problem is… this IS plan B.

Actually, it’s more like plan G.  I didn’t spend over $100,000 on an MBA to have to start from complete scratch.  I have exhausted all options.  I’m sure there are those out there who will say that I am a liar or an idiot or whatever…  My story is too sad to make this stuff up.  Why would I brag that I have a top ranked MBA, but can’t get a simple job?

Until recently, I have been extremely successful at everything I have put my mind to do.  I think it’s based on neurosis caused by my mother.  I can still hear her voice saying, “You are a loser just like your alcoholic father.  You will never amount to anything!”  That’s what drove me to graduate cum laude, become an infantry officer, and earn a six figure income.

When people tell me I can’t do something, I just pretend it is my mother speaking, and somehow I accomplish the impossible every time.

I know that talk is cheap.  There is nothing I can do to convince you guys or anyone else that I am different and I will succeed.  I guess if I’m still around these forums in 5 years, that means I somehow made it.

As far as following the formula goes… I have had several years experience in sales and sales management.  I would say that anywhere between 50-80% of sales people do not actually do what they are supposed to do.  They think they have a better way than the company way… and they often fail.

I think that taking shortcuts and good ol’ fashioned burnout are the killers in most sales organizations.  I have ways of addressing both of these.  Did I mention that I am a damn good salesperson too?


[/quote] You won’t be.

Perhaps I need to clarify something.

Yes, this is plan G… or something.  It does not mean that I am not fully committed.  I can’t change the fact that I explored other options before I came to this point.

I plan to work at least 80 hours a week at this job with single-minded focus and dedication.  I won’t stop until they fire me or I die.  I have no other choice.  I know you have heard it all before, but did the person speaking really mean it?  My disabled wife needs me, my kids do to (I have lots of them).

As far as the hourly rate goes at the beginning… I was assuming that they limit the hours you work in the beginning.  They “estimate” 45 hours study per week in the beginning and then 60 hours per week after KYC.  Can you work more than this?  I had already planned to work much more than this, but I wasn’t sure if they would let me claim that many hours.

Again, I have closed all other doors (and windows).  I quit returning calls from other companies’ recruiting departments.  I have stepped up to the bar and I am requesting an extra large pitcher of Kool-Aid.  I’ll be a Jones success story if it kills me.

[quote=MBA2FA]Perhaps I need to clarify something.

Yes, this is plan G… or something.  It does not mean that I am not fully committed.  I can’t change the fact that I explored other options before I came to this point.

I plan to work at least 80 hours a week at this job with single-minded focus and dedication.  I won’t stop until they fire me or I die. 

[quote=MBA2FA] I quit returning calls from other companies’ recruiting departments. I have stepped up to the bar and I am requesting an extra large pitcher of Kool-Aid. I’ll be a Jones success story if it kills me.

[/quote]

I wouldn’t be too eager to burn all the ships in the harbor until you’re sure you’re sure you’ve made it to the right port and all hands are safely ashore. Until then, and to mix my metaphors, why close any doors that don’t need to be closed? One of those calls you quit returning just might be the call you have been waiting for.

For Christs sake, this is a little too much kool-aid, even for me! And I have an IV bag of kool-aid dripping into my arm every day from 8am to 10pm, when I’m out doorknocking and chatting with folks about my job.

[quote=SpacemanSniff]For Christs sake, this is a little too much kool-aid, even for me! And I have an IV bag of kool-aid dripping into my arm every day from 8am to 10pm, when I’m out doorknocking and chatting with folks about my job.

Does anybody else chuckle when “My EDJ Journey Begins” thread title is immediately followed by “Leaving Jones” thread title?  This is me chuckling right now…Chuckle, that’s one of those words that really sounds funnier and funnier when you say it over and over out loud.  But then you stop really quick when your assistant comes in to ask you a question…

Time to put down the scotch, beemer.  I know the market is dropping 100 pts and our clients quarterly statements won’t look quite as they could have otherwise, but its only 3:30!

[quote=MBA2FA]Perhaps I need to clarify something.

Yes, this is plan G… or something.  It does not mean that I am not fully committed.  I can’t change the fact that I explored other options before I came to this point.

I plan to work at least 80 hours a week at this job with single-minded focus and dedication.  I won’t stop until they fire me or I die.  I have no other choice.  I know you have heard it all before, but did the person speaking really mean it?  My disabled wife needs me, my kids do to (I have lots of them).

As far as the hourly rate goes at the beginning… I was assuming that they limit the hours you work in the beginning.  They “estimate” 45 hours study per week in the beginning and then 60 hours per week after KYC.  Can you work more than this?  I had already planned to work much more than this, but I wasn’t sure if they would let me claim that many hours.

Again, I have closed all other doors (and windows).  I quit returning calls from other companies’ recruiting departments.  I have stepped up to the bar and I am requesting an extra large pitcher of Kool-Aid.  I’ll be a Jones success story if it kills me.


[/quote]

ATTENTION: MBA2FA will no longer be a Jones success story.  In less than 30 days after reading posts on this forum he has opted to quit Edward Jones before starting. This message was intended for all that cared.

Isn’t he at MSSB or something and already bashing EJ’s lack of proffessionalism? Ironic judging from his clamoring for EJ acceptance and his “seemingly unequivicol devotion” to EJ. I’m sure he will be a superstar though. After all what was his worry with having 10,000 names in his rolodex and commitment of 80 hours a week.

When I wrote that post, MSSB wasn’t hiring in my area.  I never claimed “seemingly unequivicol devotion” to Jones, just my job (wherever I end up).  I don’t know what you are referring to about “bashing EJ’s lack of proffessionalism”  I have merely stated facts about how they have treated me.  MSSB has treated me much better than Jones.  If they treat you well and you are happy there, good for you. 

Volt, you have told me that I will fail at Jones, yet you harass me when I agree with you and decide not to work there.  Not everyone can be a Jones Superstar like you.  Why are you stalking me on these boards?  Don’t you have anything better to do?

Well, MBA I wouldn’t say that any of those things besides maybe the delayed dinner invitation is worthy of a complainant.  The main reason they need the zip code, is for compensation reasons. I don’t know who you are, but to jump ship before you even get your feet wet, is rather spineless.  And if you honestly think the BM was straight with you, your MBA  taught you nothing. Hes a salesman among salesmen. His job is to recruit guys like you who will attract some decent fish, then when you fail he’ll throw em to his corner office guys. Good Luck, we all need it.

p.s. I want to wish you extra good luck meeting MSSB expectations.

When I wrote that post, MSSB wasn’t hiring in my area.  I never claimed “seemingly unequivicol devotion” to Jones, just my job (wherever I end up).  I don’t know what you are referring to about “bashing EJ’s lack of proffessionalism”  I have merely stated facts about how they have treated me.  MSSB has treated me much better than Jones.  If they treat you well and you are happy there, good for you. 

Volt, you have told me that I will fail at Jones, yet you harass me when I agree with you and decide not to work there.  Not everyone can be a Jones Superstar like you.  Why are you stalking me on these boards?  Don’t you have anything better to do?

Sorry MBA I didn’t mean to offend you. I just think if you’re this easily offended and wishy washy that you won’t make it in this industry. You are going to have a lot of jerks out there while prospecting, and it is going to be a while before you build a sizeable book so its a long front load. I do think that MSSB is a better fit for you though because they may have a bit more pampering than EJ where you are pretty much on your own. However if your claim to having 10,000 contacts is true then you are a surefire win at any firm.





One more thing. You made some comments about the EJ recipe for success. Its all crap. You can do it and succeed or you can do whatever kind of business plan you would like. All EJ cares about is contacts at first and getting some small sales. Seems with your rolodex, you would make it there doing business however you would like, just make sure to pick a few out of your list and plug them in at a rate of 25 a day in your laptop. You would coast right through. That is if you can get over the fact you have to be a self starter in getting answers and running your business and can deal with the RLs world not revolving around you.

[quote=MBA2FA]When I wrote that post, MSSB wasn’t hiring in my area.  I never claimed “seemingly unequivicol devotion” to Jones, just my job (wherever I end up).  I don’t know what you are referring to about “bashing EJ’s lack of proffessionalism”  I have merely stated facts about how they have treated me.  MSSB has treated me much better than Jones.  If they treat you well and you are happy there, good for you. 

Volt, you have told me that I will fail at Jones, yet you harass me when I agree with you and decide not to work there.  Not everyone can be a Jones Superstar like you.  Why are you stalking me on these boards?  Don’t you have anything better to do?

[quote=fa09]Sorry MBA I didn’t mean to offend you. I just think if you’re this easily offended and wishy washy that you won’t make it in this industry. You are going to have a lot of jerks out there while prospecting, and it is going to be a while before you build a sizeable book so its a long front load. I do think that MSSB is a better fit for you though because they may have a bit more pampering than EJ where you are pretty much on your own. However if your claim to having 10,000 contacts is true then you are a surefire win at any firm.





One more thing. You made some comments about the EJ recipe for success. Its all crap. You can do it and succeed or you can do whatever kind of business plan you would like. All EJ cares about is contacts at first and getting some small sales. Seems with your rolodex, you would make it there doing business however you would like, just make sure to pick a few out of your list and plug them in at a rate of 25 a day in your laptop. You would coast right through. That is if you can get over the fact you have to be a self starter in getting answers and running your business and can deal with the RLs world not revolving around you.[/quote]

No offense taken.  I realize that I can prospect any way I want at Jones, but some local FA’s have made me feel like I have to be “sneaky” about it and make it look like I am doing things their way.

There are a few other (kinda small) annoying things.  For instance, I keep track of a lot of my contacts through linkedin (update info, keep notes, etc). A local FA told me that the linkedin site is completely blocked by Jones.  On the flip side, I know several people with MSSB that use linkedin.

I don’t know why you’re even worrying about Jones, MBA, people who start there want training and support and want to be in business for themselves but not by themselves.  It doesn’t sound like you want to be trained and you don’t want to do things their way. 

Go find a place where they’ll throw you up against the wall and see if you’ll stick and not spend a lot of time or money on you.  No time + no money from your company = no hassles  and you can do it your way.  I’m sure there are companies that would sponsor you for your licenses as a career-changer.  You pay for your 7, you pay for your E&O and you pay for the state licenses you want to obtain.  You can do things your way, you own it, and you’ll get a higher payout to boot. 

Jones has a profile of a recruit they want, you don’t fit the profile.  It’s a good idea to pull the plug on the Jones thing because it will only end in frustration and failure for you.

Well said Berk … this has been my point all along MBA.  I don’t know if you can make it in the business but I don’t think you’ll make it at Jones.  It’s too process dr’iven for a guy like you - plus you’ll want to feel the love and there is not ANY.  No matter how well you are doing you’re on an island. Unless you are THE CHOOSEN ONE of course, then Weddle and the GP’s will be all over your nuts. 

I think people are reading too much into this. Company culture can vary greatly by branch, region, etc. at any firm. People are just looking for a reason to bitch.

It’s about time to retire this thread.  I told the nice Jones people, “Thanks, but no thanks” and returned the computer and other stuff they sent.

Now that it’s over, I have a healthy respect for Jones and the FA’s I have met (both in person and online).  I think everyone can agree that I would not be a good fit, so it’s better that I didn’t begin a losing proposition.

The good news is that I just got a call from MSSB with a job offer.  I’ll start a new thread for that one.

It’s about time to retire this thread.  I told the nice Jones people, “Thanks, but no thanks” and returned the computer and other stuff they sent.

Now that it’s over, I have a healthy respect for Jones and the FA’s I have met (both in person and online).  I think everyone can agree that I would not be a good fit, so it’s better that I didn’t begin a losing proposition.

The good news is that I just got a call from MSSB with a job offer.  I’ll start a new thread for that one.

It’s about time to retire this thread.  I told the nice Jones people, “Thanks, but no thanks” and returned the computer and other stuff they sent.

Now that it’s over, I have a healthy respect for Jones and the FA’s I have met (both in person and online).  I think everyone can agree that I would not be a good fit, so it’s better that I didn’t begin a losing proposition.

The good news is that I just got a call from MSSB with a job offer.  I’ll start a new thread for that one.

Noggin, I have a 4 year old and I am dreading that day next year. How did she do ? Was it harder on Mom and Dad ?

Perhaps I need to clarify something.

I’ll be a Jones success story if it kills me.

Noggin, I have a 4 year old and I am dreading that day next year. How did she do ? Was it harder on Mom and Dad ?

Old news. I hear he gets free lunch now and his BM thinks he is a top producer before even getting licensed! Can’t say I blame him for the choice, none of that goin on at Jones, some RL’s will even wait to take you out for a welcome dinner until they have enough unlicensed untested recruits for it to make sense of their time!

[quote=Ron 14]Noggin, I have a 4 year old and I am dreading that day next year. How did she do ? Was it harder on Mom and Dad ?

Ok Fine.  I’ll admit it.  I was wrong.  I thought Jones was a good firm to work for, but I was wrong.  Now I work for MSSB.  I love it here.

I never claimed to be a top producer.  I never claimed to be smarter or better than anyone.  I work in a clean, professional, working environment.  I am left to do my studying, but there are plenty of people around when I have questions.

I am not sure why people are so bitter about that.  Don’t try to read between the lines.

I found a work environment that fits my temperament and personality.  I am not scoring 108% on the practice tests.  My scores range from 85-98% with the average around 94%.

I’m sure I won’t break any series 7 records, but I have a pretty good feeling I’ll do okay.

When given two options, I took the one with 50% higher pay and a salary that lasts 30 months instead of 12.  I’m curious to see how many people out there turned down an offer like that with a wirehouse to work for Jones.

[quote=MBA2FA]
Ok Fine.  I’ll admit it.  I was wrong.  I thought Jones was a good firm to work for, but I was wrong.  Now I work for MSSB.  I love it here.


[/quote]

Who are you to say that Jones is not a good firm to work for? Please provide us with your minutes/hours/days of experience.

Keep talking failure boy… that beer is tasting better and better all the time.

You haven’t even passed the series 7 and you are making a judgement, that Jones isn’t a good firm. You said you" Love it here" and you’ve been there, what… a whole 2 minutes? You are warped buddy. I’m not usually ever negative about people being in this business, but you my friend need to pick another career.

When given two options, I took the one with 50% higher pay and a salary that lasts 30 months instead of 12.

[quote=MBA2FA]
Ok Fine.  I’ll admit it.  I was wrong.  I thought Jones was a good firm to work for, but I was wrong.  Now I work for MSSB.  I love it here.

I never claimed to be a top producer.  I never claimed to be smarter or better than anyone.  I work in a clean, professional, working environment.  I am left to do my studying, but there are plenty of people around when I have questions.

I am not sure why people are so bitter about that.  Don’t try to read between the lines.

I found a work environment that fits my temperament and personality.  I am not scoring 108% on the practice tests.  My scores range from 85-98% with the average around 94%.

I’m sure I won’t break any series 7 records, but I have a pretty good feeling I’ll do okay.

When given two options, I took the one with 50% higher pay and a salary that lasts 30 months instead of 12.  I’m curious to see how many people out there turned down an offer like that with a wirehouse to work for Jones.


[/quote]

Sounds like a good place to start. But are you fresh out of college? Cause all the MSSB listings around me require 3-5 years of career experience. 30 month salary is definitely a good choice to take. As it gives you security for the next 2.5 years. But the experience requirement cuts me out of the loop for any major wirehouse except for joining a team under PWM which I have tried but there just aren’t too many positions available. 2 opened in the last year. Outside of the major wirehouses, Jones, to me, seems like the best opportunity available. As it provides a 1 year salary(small but enough to survive) and 5 months of sales training. Unlike other places and the lowest GDC requirement I have ever seen. 16k for year 1 is what jones calls meeting 100% of GDC requirements.

My first week in the training plan with EJ and have the bird flu. What a way to start! I am still several days ahead of schedule but ugh!!