155 and counting

Spiked-

I don't know where you get your numbers but they sound pretty close. When I started we had 6500 IR's and the goal was 10K by 2000. They hit that four or five years ago, celebrated with Bachie and Dougie in England where supposedly they opened the 10,000th office and as far as I can determine five years later 9600 IR's.

So if they are training 200 per month and they have less now than five years ago. Attrition is happening on a much higher percentage than they are letting on. All I ever heard was 3-4% of vets were leaving. Well, its calculator time again, 3% of 9600 IR's would be is 288. A reason for stagnant profits (and more profitable) for the GP's because who made the bonuses, The VETS!

If I am a GP, the exodus of vets insures more $$$ to be spread amongst the owners. It's a great gig for some.

[quote=footsoldier]A reason for stagnant profits (and more profitable) for the GP’s because who made the bonuses, The VETS!

If I am a GP, the exodus of vets insures more $$$ to be spread amongst the owners. It's a great gig for some. [/quote]

I admit ignorance on the inner workings of the cult, but this statement doesn't make sense.  Are you suggesting that the bonuses for the vets are so big that they actually negate that vets profitability?

Unless EJ hit their 10,000 IR in 2006, they have not hit that goal yet.  I left in November 2005 and they weren't even close.

QUOTE=footsoldier]

Spiked-

I don't know where you get your numbers but they sound pretty close. When I started we had 6500 IR's and the goal was 10K by 2000. They hit that four or five years ago, celebrated with Bachie and Dougie in England where supposedly they opened the 10,000th office and as far as I can determine five years later 9600 IR's.

So if they are training 200 per month and they have less now than five years ago. Attrition is happening on a much higher percentage than they are letting on. All I ever heard was 3-4% of vets were leaving. Well, its calculator time again, 3% of 9600 IR's would be is 288. A reason for stagnant profits (and more profitable) for the GP's because who made the bonuses, The VETS!

If I am a GP, the exodus of vets insures more $$$ to be spread amongst the owners. It's a great gig for some.

spiked - where did you see those numbers?  I’d love to read the article or wherever it came from.  PM me with a link if you have one and wouldn’t mind.

EDjones always hits their goals.  EDJONES rules!

Lawsucks (great name by the way)-

Here is how it works. The firm states a percentage of bonus participation. 40% is the current number. And that is only on profit after 26K. The grid has 5 tiers. The best way to describe this system is to illustrate because it was conceived by the owners for the owners (or at least that's my take). Below is an example of 100K trimester profit, I am estimating a 750K producer.

Profit

6500x8%=520

6500x16%=1040

6500x24%=1560

6500x32%=2080

74000x40%=29,600

Total Trimester Bonus to IR= 34,800 (34.8%)

Total Trimester Profit to GP= 100,000-34,800=65,200 (65.2%)

Remember that the expenses the GP's control (1300 month for the god awful satellite) and I am told expenses are not decreasing when the T1's are installed. But Lawsucks my point to this was the GP's are better off having 4 IR's at 200K gross than 1 at 800K. The profit is not distributed down to the troops. It remains with the owners. So if the attrition numbers are higher but the revenues remain constant, who wins in this equation? It clearly ain't us.

I can't wait for the Jonesheads without calculators to respond. This is kumbaya week (regionals) so the fluids are flowing and their brains are turning to mush. And to think I was one of them.

I would be curious to see how many are defecting to the other firms.  Anybody have some stats!

[quote=Incredble Hulk]

EDjones always hits their goals.  EDJONES rules!

[/quote]

Incredble (no i),

You kill me man!!!  

The needle of total IRs hasn’t moved much in the last few years, and it probably won’t.  At this point, the relative numbers recruited vs. left at most firms is relatively flat.  LPL was down in net reps last year, but revenue increased.  It seems that EDJ is losing the big boys and bringing in tons of newbies to try to make up for it.

[quote=Incredble Hulk]

EDjones always hits their goals.  EDJONES rules!

[/quote]

as long as the goal is to bend you over and make you sqeal like a pig.

How do you define veteran?

Don't worry rank--your not one.

[quote=zacko]Don't worry rank--your not one.[/quote]

The thing that other firms have capitalized on is recruiting the 1st/2nd quintile producer away from Jones, LOS 5 and under.  While this isn't a big hit to Jones, it is a win for the other BDs - less costly hire, plus someone who can prove they can get the job done.  With a better product offering than Jones, these firms feel that they can capitalize on these reps.

[quote=rankstocks]How do you define veteran?[/quote]

 They look like this- remember- the guys in your region who are always laughing at your stupid comments.

[quote=BrokerRecruit]

The thing that other firms have capitalized
on is recruiting the 1st/2nd quintile producer away from Jones, LOS 5
and under.  While this isn’t a big hit to Jones, it is a win for
the other BDs - less costly hire, plus someone who can prove they can
get the job done.  With a better product offering than Jones,
these firms feel that they can capitalize on these reps.

It seems that the ones who have been there for 10+ years have deemed it is a very good fit for them and they are, generally, quite succesful.  It's not a horrible firm, just not right for some producers.  The 3-5 year IR is right in the wheelhouse for indy and wires and should continue to be the case for some time.

It seems that the ones who have been there for 10+ years have deemed it is a very good fit for them and they are, generally, quite succesful. It’s not a horrible firm, just not right for some producers. The 3-5 year IR is right in the wheelhouse for indy and wires and should continue to be the case for some time.

Out of curiosity, Incredible, what are your thoughts on why this exodus will stop?  Offering more LP?

BR-

When you consider the amount of time spent building and then maintaining the business, LP in that light (there is a quantifiable dollar per hour number for everyone)and the fact our sweat equity isn't enough to pay for it, could be one of the worst return on investments ever. Oh yeah I almost forgot. The GP's earn interest on the money they loan out for anything including LP.

To summarize for those who can't comprehend.

It's the mountaintop for the GP's. I keep repeating myself, the GP structure is a brilliant business model. It sucks for anyone with half a brain.

Footsoldier -

If you clones would just listen to him with open ears and eyes you might just begin to understand why the Jones model is not what "they" make it out to be. 

The LP hook is like the 'ol story about the frog that allows himself to be boiled.  You start out in cold water and slowly turn up the heat and before you realize it, it's too late - the waters boiling and the frog is in to deep. 

FS - you keep it up you just might incur the wrath of Doug Hill.

cs-

Who is them. And why would you assume that some can figure out the game, and then plan accordingly.

Were on the same side of the fence.

FS,

You lost me, admittedly that's pretty easy these days, but I love what your doing on this site.

CS-

Someone has to spell out the doublespeak. Sooner or later the smart IR's will leave when the stench becomes too much.

Like it or not, EDJ is not going anywhere. They have their little fifedom, and their love fests. I and others before and after me will see the light and move on.

I just wish I had come to terms with this sooner.

[quote=footsoldier]

I just wish I had come to terms with this sooner.

But Lawsucks my point to this was the GP’s are better off having 4 IR’s at 200K gross than 1 at 800K. The profit is not distributed down to the troops.

[quote=footsoldier]

BR-

[quote=Incredible Hulk] [quote=footsoldier] But Lawsucks my point to this was the GP’s are better off having 4 IR’s at 200K gross than 1 at 800K. The profit is not distributed down to the troops.

[/quote]


I think you are very bad at math or you just didn't think this through. 4 IR's = 4 times the expense. 4X BOA's, 4X rent, 4X utilities, 4X systems, 4X etc. If all 4 brokers were in the same office then your logic would make sense. You remind me of the Michael Moore's of the world. You let your emotions take control and they blind you to the facts. I think several have asked, when you are going to leave and stop feeding the GPs? The sooner the better...[/quote]

Hulk, take a look at your P&L grid.  The lion's share of the expenses are borne by brokers grossing between $12-$20K.  So yes, there is profit in having large numbers of Segment 3 brokers. 

IH-

I always enjoy intelligent conversation. I guess it will be hard to find any here. But I will continue to try.

I should have written half a brain IF I STAY.

I gave a significant number of years to this firm, I believed in this firm, and I have been bitterly disappointed in this firm. My epiphany started after the revenue sharing scandal hit. I started asking questions. I started reading and made my decision to leave. I haven't yet and I certainly can't or won't disclose when, but my time is coming.

You stay and enjoy your career. I could not continue to build a profitable business and not share in it. Nor could I sell it. I have many friends and clients who are business owners. I often ask them if they could walk away from their businesses with nothing. And they look at me and wonder why I could ask such a stupid question.

You will notice I did not denegrate EDJ. I just can't agree to represent them when in acutality they don't give a damn about me and act the opposite. The hypocrisy is stifling.

Make that 156 and counting.  The broker in Jackson Hole, WY (just a slightly wealthy resort community) moved to LPL.  Uh oh…

[quote=footsoldier] 

I gave a significant number of years to this firm, I believed in this firm, and I have been bitterly disappointed in this firm. My epiphany started after the revenue sharing scandal hit. I started asking questions. I started reading and made my decision to leave. I haven't yet and I certainly can't or won't disclose when, but my time is coming.

You stay and enjoy your career. I could not continue to build a profitable business and not share in it. Nor could I sell it. I have many friends and clients who are business owners. I often ask them if they could walk away from their businesses with nothing. And they look at me and wonder why I could ask such a stupid question.

You will notice I did not denegrate EDJ. I just can't agree to represent them when in acutality they don't give a damn about me and act the opposite. The hypocrisy is stifling.

[/quote]

Don't you independents pride yourself on not needing support, respect, or any of the other things that are showered on big producers at wirehouses?

FootSoldier…your last post is so commonly felt by those of many wirehouses. You get a descent payout, but if you take into consideration the amount of risk you take, out of pocket expenses and the fact you can’t sell your business, it is mediocre unless you put together huge production numbers and get extra bonuses and perks from the company.



You put out so much of your own money to build the business when you are a W2 employee. Postage, telephone, misc office expenses & furniture, travel and fuel expenses, and a variety of of other business related and marketing expenses.

[quote=NASD Newbie][quote=footsoldier] 

I gave a significant number of years to this firm, I believed in this firm, and I have been bitterly disappointed in this firm. My epiphany started after the revenue sharing scandal hit. I started asking questions. I started reading and made my decision to leave. I haven't yet and I certainly can't or won't disclose when, but my time is coming.

You stay and enjoy your career. I could not continue to build a profitable business and not share in it. Nor could I sell it. I have many friends and clients who are business owners. I often ask them if they could walk away from their businesses with nothing. And they look at me and wonder why I could ask such a stupid question.

You will notice I did not denegrate EDJ. I just can't agree to represent them when in acutality they don't give a damn about me and act the opposite. The hypocrisy is stifling.

[/quote]

Don't you independents pride yourself on not needing support, respect, or any of the other things that are showered on big producers at wirehouses?

Hulk, take a look at your P&L grid.  The lion's share of the expenses are borne by brokers grossing between $12-$20K.  So yes, there is profit in having large numbers of Segment 3 brokers. 

[/quote]

As a former IR who saw the light, that is exactly right!  Our RL even told us that at practically every region meeting.

[quote=footsoldier]

IH-

I always enjoy intelligent conversation. I guess it will be hard to find any here. But I will continue to try.

I should have written half a brain IF I STAY.

I gave a significant number of years to this firm, I believed in this firm, and I have been bitterly disappointed in this firm. My epiphany started after the revenue sharing scandal hit. I started asking questions. I started reading and made my decision to leave. I haven't yet and I certainly can't or won't disclose when, but my time is coming.

You stay and enjoy your career. I could not continue to build a profitable business and not share in it. Nor could I sell it. I have many friends and clients who are business owners. I often ask them if they could walk away from their businesses with nothing. And they look at me and wonder why I could ask such a stupid question.

You will notice I did not denegrate EDJ. I just can't agree to represent them when in acutality they don't give a damn about me and act the opposite. The hypocrisy is stifling.

[/quote]

Footsoldier, no one could have said it better for those of us who left EJ.  Thanks for telling it like it is and not lowering yourself to the name calling and cheap shots that others on this board seem to enjoy doing. 

[quote=footsoldier]

IH-

I always enjoy intelligent conversation. I guess it will be hard to find any here. But I will continue to try.

I should have written half a brain IF I STAY.

I gave a significant number of years to this firm, I believed in this firm, and I have been bitterly disappointed in this firm. My epiphany started after the revenue sharing scandal hit. I started asking questions. I started reading and made my decision to leave. I haven't yet and I certainly can't or won't disclose when, but my time is coming.

You stay and enjoy your career. I could not continue to build a profitable business and not share in it. Nor could I sell it. I have many friends and clients who are business owners. I often ask them if they could walk away from their businesses with nothing. And they look at me and wonder why I could ask such a stupid question.

You will notice I did not denegrate EDJ. I just can't agree to represent them when in acutality they don't give a damn about me and act the opposite. The hypocrisy is stifling.

[/quote]

I'll agree with the others, this is a great post. It's why I bailed from the cult not too long ago and went Indy. Freedom!

For the younger people who are reading this stuff.

For reasons that I have not been able to determine--yet--this forum attracts an extraordinary number of people who want to whine about Edward Jones.

This industry is notorious for those who are not making it to whine--perhaps all industries are but I'm only familiar with this one.

If you're working in a Smith Barney office somewhere those who are struggling are going to blame somebody other than themselves--it's human nature to do that.

If you're working in a bank somewhere those who are struggling are going to blame somebody other than themselves--it's human nature to do that.

I suspect that the reason you see so much whining on these forums is because the whiners are fairly isolated in their small Jones offices.  Around Smith Barney or a bank there would be somebody to whine with--two guys who are eventually going to fail can whine to each other, reassure each other that whatever is happening (or more appropriately not happening) is not because of something that they are doing, or not doing.

So they don't need an outlet to vent their anxieties, to reaffirm that they're doing the right thing they go have a beer after work.

But if you work for Jones and are failing there is nobody to go have a beer with--so you log onto this forum where others who are failing will reassure you that Jones is to blame.

Jones is not to blame.  It's no more a "cult" than the Catholic church is a cult.  It is a highly regarded marketing organization.

Admittedly it has a bit of a multi level marketing twist to it--but you should see Primerica or WMA.

A few years ago I was an arbitrator in a case involving Jones and admit that I was concerned about what appeared to be a lack of supervision--or more clearly it seemed to me that what they presented as a supervisory structure would not be able to supervise.

But that is a compliance issue and has little to do with what the whining is about.

What amuses this aging veteran is how somebody whines about not getting support, but they're going to "go indy" where there is, by design, almost no support.

Somebody is whining about not having e-mail.  How basic is that?  A sixth grader can get his own e-mail address without any adult intervention.

The cold, harsh, unvarnished reality is that those who are whining about what a horrible place Jones is would be whining about what a horrible place Merrill Lynch is if they were there.

They're on their way out the door--not because their broker/dealer is failing, but because they are failing.

Everytime you read words like "Cult" and "Kool Aid" figure that it's somebody who is better suited for another career simply spewing bile because they're nervous about the future.

Wish them well in their next career.

Ahh now we get the true colors on Newbie.  I'll give you that those who are failing tend to migrate toward others that are failing.  But at Jones they have no more difficulty finding each other than at any other firm... ever heard of a telephone?

As for support and going indy.  I have not heard anyone complain about the support they got from Jones.  What I have heard and have said myself is that Jones has very limited platform and conflicted product offering. Both of these are greatly enhanced by going to one of the larger indy firms.

As for email.  Do you have a license to do business in this industry?  Are you suggesting that Jones IR's who want email sign up for a free Yahoo acct and correspond with clients that way?  And to think you were worried about supervision before?

Save your line about being in on an arbitration hearing. You sound more like a wannabe Jones home office clone or the janitor someone called you before.

As for calling Jones a cult.  Why dont you let those of us who were in it and left be the judge of that.  You are a dumbass.  Thanks for clearing it up finally.

[quote=unsunghero]

Ahh now we get the true colors on Newbie.  I'll give you that those who are failing tend to migrate toward others that are failing.  But at Jones they have no more difficulty finding each other than at any other firm... ever heard of a telephone?

As for support and going indy.  I have not heard anyone complain about the support they got from Jones.  What I have heard and have said myself is that Jones has very limited platform and conflicted product offering. Both of these are greatly enhanced by going to one of the larger indy firms.

As for email.  Do you have a license to do business in this industry?  Are you suggesting that Jones IR's who want email sign up for a free Yahoo acct and correspond with clients that way?  And to think you were worried about supervision before?

Save your line about being in on an arbitration hearing. You sound more like a wannabe Jones home office clone or the janitor someone called you before.

As for calling Jones a cult.  Why dont you let those of us who were in it and left be the judge of that.  You are a dumbass.  Thanks for clearing it up finally.

[/quote]

Unsung- I work at jones and I have email and it is not through Yahoo.

[quote=noggin][quote=unsunghero]

Ahh now we get the true colors on Newbie.  I'll give you that those who are failing tend to migrate toward others that are failing.  But at Jones they have no more difficulty finding each other than at any other firm... ever heard of a telephone?

As for support and going indy.  I have not heard anyone complain about the support they got from Jones.  What I have heard and have said myself is that Jones has very limited platform and conflicted product offering. Both of these are greatly enhanced by going to one of the larger indy firms.

As for email.  Do you have a license to do business in this industry?  Are you suggesting that Jones IR's who want email sign up for a free Yahoo acct and correspond with clients that way?  And to think you were worried about supervision before?

Save your line about being in on an arbitration hearing. You sound more like a wannabe Jones home office clone or the janitor someone called you before.

As for calling Jones a cult.  Why dont you let those of us who were in it and left be the judge of that.  You are a dumbass.  Thanks for clearing it up finally.

[/quote]

Unsung- I work at jones and I have email and it is not through Yahoo.

[/quote]

You and 14 others....

The email conundrum is a real problem in Wall Street.

There have been thousands of wasted man-hours spent trying to come to grips with the reality that it exists and that it is all but impossible to police what is being said in emails.

Most firms have arrived at a method of capturing every email sent to or from an RR in a branch office.  They are archieved and are available should compliance issues arise.  Every so often somebody will actually read through a reps correspondence--in other words what you send or get in office email is not confidential.

No doubt Jones is dealing with a logistical nightmare since their salesforce is so geographically diversified.  I am not enough of a techincal guy to know just how much hardware would be required, but I suspect there could be software that would transfer your email files to the compliance department.

Meanwhile a broker/dealer is perfectly within its rights to tell their representatives to not use email--and to send all of the clients a letter explaining that if they act on any advice delivered by email they surrender their right to file an arbitration claim against Jones for that advice.

Email can be fine for exchanging information, making an appointment, or any of the other things that a rep might need to do.  I would not have a problem telling my clients that the reason I am using a Yahoo address is because the who theory behind Jones is to be uninfluenced by the corporate BS that infects a place like Morgan Stanley.

Complain about Jones and their attitude towards option writing accounts if you want, or complain that they're not known for having a lot of allocaton of new issues, there are lots of things to complain about.

But whining that it's a cult, or that the regional partner dresses in cheap clothes, or that you don't have state of the art email is grasp at straws.  Not a one of those things has the power to turn a loser into a winner.

Read through this stuff and you'll find whiners saying things like "Breathe on a mirror and you've got a job at Jones."

Well, that may be true--and the guy doing the whining is living proof.

Noggin,

My point had nothing do to with who does or does not have email at Jones.  This Newbie guy acted like anyone can get email so why complain that your firm doesnt provide it.  Congrats on the email though.

Newbie,

Your previous quote on email was,

Somebody is whining about not having e-mail.  How basic is that?  A sixth grader can get his own e-mail address without any adult intervention.

Now you go on some tangent about a vast industry email conundrum.  What the hell are you talking about?  Who gives a rip about email except that Jones had been promising it for 7-10 years with lame excuses like you will need an extra BOA(assistant) per broker to handle the email volume.  Now they have email. Great!  Bet every IR doesn't need another BOA.  That's the basic anti Jones gripe on email although each person can insert the lame excuse from their own experience I just entered mine.

What about the supposed support complaints?  Those are BS.  Or is there a vast industry conundrum on open architecture platforms too?

I have to say I really like the reference to the "young people" who might be mislead by some of the anti Jones comments.  I have seen more stupid "old" people at Jones regurgitate BS that would make a billy goat puke than I have seen "young people" be mislead.   You sound like an old condescending dumbass who spends most of his days standing in front of a toilet waiting for something to happen.  Well here's a tip.  Get off the swollen prostate medication and pull your head out of your ass and your urethra will flow like old times.

[quote=unsunghero]

I have to say I really like the reference to the "young people" who might be mislead by some of the anti Jones comments.  I have seen more stupid "old" people at Jones regurgitate BS that would make a billy goat puke than I have seen "young people" be mislead.   You sound like an old condescending dumbass who spends most of his days standing in front of a toilet waiting for something to happen.  Well here's a tip.  Get off the swollen prostate medication and pull your head out of your ass and your urethra will flow like old times.

[/quote]

For the young people who are reading this.

This industry is not filled with angry losers like this guy.  Do you suppose that if  he were able to close a deal he'd really care about email?

The reference to open architecture has to do with the state of the art computer systems--just like everywhere in society we're always looking at that other guy's computer and thinking "Gee Whiz but that's neat."

The reality is that whatever he had somebody else would have something better.  If he were not such an angry guy it wouldn't matter what he was using.

It's not about e-mail; it's not about computers; it's not about your local manager; it's not about the national managers; it's not about your selection of funds; it's not about the quality of your firm's research; it's not about how much help you get.

What it's all about is YOU.  If you cannot close a deal you're going to be pissed off like the guy above.

If you are thought of by your peers as a joke you're going to be pissed off like that guy above.

If you are behind in your mortgage payment you're going to blame everybody but the guy in the mirror.

And as with almost every decision you make you'd be wrong there too.

A good financial planner can sell a client a mutual fund without email and without an open architecture platform.

What the guy who was spewing bile above should do is get out of the office and shake some hands instead of banging away on a keyboard.

Nasd-

If your name conveys who you are, I am in agreement with Unsung (except for the dumbass remark). You are too new to make your claims, or you don't understand the industry yet. When you walk in someones shoes, i.e. work in the industry for 5-10 years, then comeback with your diatribes.

Email is just another tool to facilitate us or the client into action. If you are suggesting that in my post I was looking for help of some kind, I would argue I was looking for value. And it just isn't there.

[quote=footsoldier]

If your name conveys who you are, I am in agreement with Unsung (except for the dumbass remark). You are too new to make your claims, or you don't understand the industry yet. When you walk in someones shoes, i.e. work in the industry for 5-10 years, then comeback with your diatribes.

[/quote]

When were you born?

Newbie,

Nice comeback.  I'm behind on my mortgage. You are a dumbass.  Go take some more Flomax.

Why are you askind foot his age?  Is the age thing all you have?  You clearly have no clue about this business as revealed by your posts.  You are either totally new to the business or are a "Jones Vet."(operated in the cocoon for at least 5 years)   You think you know someting about selling because you shuffled paper for some company doing b2b sales.  Keep posting though with BBD and G1 gone we need someone to laugh at.  Dumbass.

[quote=unsunghero]

Why are you askind foot his age?  Is the age thing all you have?  You clearly have no clue about this business as revealed by your posts.  You are either totally new to the business or are a "Jones Vet."(operated in the cocoon for at least 5 years)   You think you know someting about selling because you shuffled paper for some company doing b2b sales.  Keep posting though with BBD and G1 gone we need someone to laugh at.  Dumbass.

[/quote]

Who among us cannot appreciate sanity when it parades before our very eyes.

Do you think this soul would be so angry if he were able to shake hands with a prospect and actually close a deal?

Nasd-

Probably before you. I am in my mid life (sad to admit). Probably more importantly I have been in this business for almost 15 years.

Any other questions?

[quote=footsoldier]

Nasd-

Probably before you. I am in my mid life (sad to admit). Probably more importantly I have been in this business for almost 15 years.

Any other questions?

[/quote]

I took my first securities industry exam in 1971.

Does that mean I have as much experience as you do?

NASD-

Seems like you should. Did you actually work as a rep? Or did you just get licensed in 71? If you did actually start working in 71, tell us if you wouldn't mind what was it like to work in that decade where the market was flat? What did you do to get clients, retain clients during those turbulent years?

Last question. Tell us why you continue to work 35 years later?

[quote=NASD Newbie][quote=footsoldier]

Nasd-

Probably before you. I am in my mid life (sad to admit). Probably more importantly I have been in this business for almost 15 years.

Any other questions?

[/quote] 

I took my first securities industry exam in 1971.

Does that mean I have as much experience as you do?

[/quote]

No, it means that you took your first securities industry exam in 1971. 

Making the very large assumption, of course, that you're not a liar. 

I took my first securities industry exam in 1971.

This sounds eerily like the bs spread by one notorious firm that "Traces its roots to 1871"  Doesn't say it was in business then just has some "roots" that go back that far.  Whatever.  Tell me, do you prefer Flomax or Avodart for treatment of you swelling?

NASD Newbie = DOUG HILL



He’s the only pro-Jones gentleman who has enough time on his hands to
be out on this blog all day/every day, and write 300 word blogs. 



Welcome Doug!  (I know you hate those)



p.s.  What’s up with that picture of you that I “won” as a prize a
couple of quarters ago?  Could’t they at least have touched it up
a little? 

FS, I don’t think “newbie” is still working despite the irony of his newest user name.  He just posts these boards as a sort of perverted “hobby”…which is probably how I should classify my use…

[quote=Ready2Jump]NASD Newbie = DOUG HILL

He's the only pro-Jones gentleman who has enough time on his hands to be out on this blog all day/every day, and write 300 word blogs. 

Welcome Doug!  (I know you hate those)

p.s.  What's up with that picture of you that I "won" as a prize a couple of quarters ago?  Could't they at least have touched it up a little? 

[/quote]

And he calls me angry and frustrated.  Well, I never felt so good about calling someone a DUMBASS!

[quote=Ready2Jump]

NASD Newbie = DOUG HILL

He's the only pro-Jones gentleman who has enough time on his hands to be out on this blog all day/every day, and write 300 word blogs. 

Welcome Doug!  (I know you hate those)

p.s.  What's up with that picture of you that I "won" as a prize a couple of quarters ago?  Could't they at least have touched it up a little? 

[/quote]

Boy you can't get one by on this brain trust.

I said I took my first NASD exam in 1971--Doug Hill has been around longer than that.

I've got Doug's business card on my Rolodex, along with John Bachman's and Steve Novik's.

If you're going to play this game listen to the clues.  Started in Texas, spent time on Western and Southern Regional staff, opened branches all over the country, spent a year as the interim branch manager in a North Carolina branch, spent last years of career in New York.  Very active in industry committee work, arbitration panels.

[quote=NASD Newbie]

Boy you can't get one by on this brain trust.

I said I took my first NASD exam in 1971--Doug Hill has been around longer than that.

I've got Doug's business card on my Rolodex, along with John Bachman's and Steve Novik's.

If you're going to play this game listen to the clues.  Started in Texas, spent time on Western and Southern Regional staff, opened branches all over the country, spent a year as the interim branch manager in a North Carolina branch, spent last years of career in New York.  Very active in industry committee work, arbitration panels.

[/quote]

I doubt it.

Here's a tip for you.   Since you're making up a life, make up one more in tune with your limited industry knowledge.

Mr. Newbie,

Did I read correctly that hold the Series 3 AND 4?

[quote=NASD Newbie]

[quote=Ready2Jump]

NASD Newbie = DOUG HILL

He's the only pro-Jones gentleman who has enough time on his hands to be out on this blog all day/every day, and write 300 word blogs. 

Welcome Doug!  (I know you hate those)

p.s.  What's up with that picture of you that I "won" as a prize a couple of quarters ago?  Could't they at least have touched it up a little? 

[/quote]

Boy you can't get one by on this brain trust.

I said I took my first NASD exam in 1971--Doug Hill has been around longer than that.

I've got Doug's business card on my Rolodex, along with John Bachman's and Steve Novik's.

If you're going to play this game listen to the clues.  Started in Texas, spent time on Western and Southern Regional staff, opened branches all over the country, spent a year as the interim branch manager in a North Carolina branch, spent last years of career in New York.  Very active in industry committee work, arbitration panels.

[/quote]

What a j@ckoff.  This crap doesn't even make sense.

[quote=eddjones654]

Mr. Newbie,

Did I read correctly that hold the Series 3 AND 4?

[/quote]

Yep, two things that would not be needed at Edward Jones, right? 

[quote=footsoldier]

NASD-

Seems like you should. Did you actually work as a rep? Or did you just get licensed in 71? If you did actually start working in 71, tell us if you wouldn't mind what was it like to work in that decade where the market was flat? What did you do to get clients, retain clients during those turbulent years?

Last question. Tell us why you continue to work 35 years later?

[/quote]

Getting clients was actually easier than it is now because everybody was looking for a different voice, different advice.

I am very comfortable at a podium so I prospected with seminars.  I've always felt that if people actually care enough about what you have to say to get up and leave their TV shows they're damn near eager to buy.

In 1973 the CBOE opened up and options became very interesting to investors.  They would show up at seminars.  I did one in the relatively small town of Dennison, Texas where more than 100 people came.

I have already said on this forum that option writing is an excellent way to generate a return when the markets are moving sideways.  The time value of options will eventually come out of the premium so you can't help but make a gain in a up, sideways or slightly down market.

Because I was doing about twenty seminars a year I was a logical choice when the firm decided to have options "specialists" assigned to regional manager's staffs.

Regarding your question about retaining clients.  I do not have first hand experience with that because as has been sneered about I left production because I had a burning desire to be a leader rather than one of those who is led.

Finally, the reason I worked until last March was because I could and because I enjoyed what I was doing.

I’m familar with Dennison. It’s the birthplace of Dwight Eisenhower. In
Grayson County right next door to beautiful Sherman, TX home of the
Fighting Kangaroos of Austin College. It’s a real  dump of a 
town along with Sherman. I can’t believe the local yokels there were
buying options back then.  I just can’t see the people there
understanding  what  you were talking about.  I’m
picturing a bunch of extra’s from Deliverance watching with rapt
attention as you talk about options…I guess business is where you
find it.<!–
var SymRealOnLoad;
var SymReal;

Sym()
{
window.open = SymWinOpen;
if(SymReal != null)
SymReal();
}

SymOnLoad()
{
if(SymRealOnLoad != null)
SymRealOnLoad();
window.open = SymRealWinOpen;
SymReal = window.;
window. = Sym;
}

SymRealOnLoad = window.onload;
window.onload = SymOnLoad;

//–>

[quote=no idea]I'm familar with Dennison. It's the birthplace of Dwight Eisenhower. In Grayson County right next door to beautiful Sherman, TX home of the Fighting Kangaroos of Austin College. It's a real  dump of a  town along with Sherman. I can't believe the local yokels there were buying options back then.  I just can't see the people there understanding  what  you were talking about.  I'm picturing a bunch of extra's from Deliverance watching with rapt attention as you talk about options....I guess business is where you find it.<!-- var SymRealOnLoad; var SymReal;

Sym()
{
window.open = SymWinOpen;
if(SymReal != null)
SymReal();
}

SymOnLoad()
{
if(SymRealOnLoad != null)
SymRealOnLoad();
window.open = SymRealWinOpen;
SymReal = window.;
window. = Sym;
}

SymRealOnLoad = window.onload;
window.onload = SymOnLoad;

//–> [/quote]

Does it occur to you that there might be 100 people--about fifty couples--in the Dennison/Sherman area who are gainfully employed?

Doctors, lawyers, small business owners?

Don't tell us...you burned through them in six years, and that's why you failed as a broker.  In two firms.

Amazing.

What I’m having trouble with is why you drove over an hour from
Highland Park to Dennison. Just  a shot in the dark here but I
would think Highland Park & University Park would have all the
business someone of your  “standing” could ever want.

Jeez, I haven’t been to this forum in 2-3 months, but the same ex-EDJ sour grapes are still wasting their energy on some silly vindication for their lack of success at Jones. I really feel sorry for some of you. Please seek therapy, and try and get on with your lives. Good luck.

[quote=no idea]What I'm having trouble with is why you drove over an hour from Highland Park to Dennison. Just  a shot in the dark here but I would think Highland Park & University Park would have all the business someone of your  "standing" could ever want.
<!-- var SymRealOnLoad; var SymReal;

Sym()
{
window.open = SymWinOpen;
if(SymReal != null)
SymReal();
}

SymOnLoad()
{
if(SymRealOnLoad != null)
SymRealOnLoad();
window.open = SymRealWinOpen;
SymReal = window.;
window. = Sym;
}

SymRealOnLoad = window.onload;
window.onload = SymOnLoad;

//–>[/quote]

That's the problem with people like you--you're too lazy to bother to drive an hour or two in order to find a new market.

Your philosophy of "When the going gets tough, I quit" is why you are doomed to failure.

One of the best accounts I ever had was a guy who owned a propane distributorship in East Texas.

It requires extra effort, you have to get up earlier and stay later--but success can be achieved.

[quote=hawg]Jeez, I haven't been to this forum in 2-3 months, but the same ex-EDJ sour grapes are still wasting their energy on some silly vindication for their lack of success at Jones. I really feel sorry for some of you. Please seek therapy, and try and get on with your lives. Good luck.[/quote]

They're becoming even more manic in their frenzy to find something to blame for their individual failures.  It's actually very sad.

No Newbie it’s not laziness it’s apathy. I quit giving a sh*te about
what you have to say  a long time ago. It just out of curiousity
that I asked why you were in Dennison instead of Highland 
Park. 

I do find the “that’s why you’re all doomed to failure” mantra amusing.
You should use that as your tag line for all your rebuttals.

Cheers!

[quote=no idea]No Newbie it's not laziness it's apathy. I quit giving a sh*te about what you have to say  a long time ago. It just out of curiousity that I asked why you were in Dennison instead of Highland  Park. 
I do find the "that's why you're all doomed to failure" mantra amusing. You should use that as your tag line for all your rebuttals.
Cheers!
<!-- var SymRealOnLoad; var SymReal;

Sym()
{
window.open = SymWinOpen;
if(SymReal != null)
SymReal();
}

SymOnLoad()
{
if(SymRealOnLoad != null)
SymRealOnLoad();
window.open = SymRealWinOpen;
SymReal = window.;
window. = Sym;
}

SymRealOnLoad = window.onload;
window.onload = SymOnLoad;

//–>[/quote]

Yet you not only read it, you responded to what I had to say.....twice.

Newbie, I feel like I’m on a roll. Let’s make it three times!

Just curious, was the guy in East Texas a member of the Little Sandy Hunting Club?

[quote=no idea]Newbie, I feel like I'm on a roll. Let's make it three times!
Just curious, was the guy in East Texas a member of the Little Sandy Hunting Club?
<!-- var SymRealOnLoad; var SymReal;

Sym()
{
window.open = SymWinOpen;
if(SymReal != null)
SymReal();
}

SymOnLoad()
{
if(SymRealOnLoad != null)
SymRealOnLoad();
window.open = SymRealWinOpen;
SymReal = window.;
window. = Sym;
}

SymRealOnLoad = window.onload;
window.onload = SymOnLoad;

//–>[/quote]

I have no idea, it was thirty years ago.

[quote=hawg]Jeez, I haven't been to this forum in 2-3 months, but the same ex-EDJ sour grapes are still wasting their energy on some silly vindication for their lack of success at Jones. I really feel sorry for some of you. Please seek therapy, and try and get on with your lives. Good luck.[/quote]

I just cant get over the jealousy I feel toward people that can still type on a computer even though they have their head burried up their ass.  I just wish I had that kind of talent...dumbass.

[quote=NASD Newbie]

[quote=no idea]What I'm having trouble with is why you drove over an hour from Highland Park to Dennison. Just  a shot in the dark here but I would think Highland Park & University Park would have all the business someone of your  "standing" could ever want.
<!-- var SymRealOnLoad; var SymReal;

Sym()
{
window.open = SymWinOpen;
if(SymReal != null)
SymReal();
}

SymOnLoad()
{
if(SymRealOnLoad != null)
SymRealOnLoad();
window.open = SymRealWinOpen;
SymReal = window.;
window. = Sym;
}

SymRealOnLoad = window.onload;
window.onload = SymOnLoad;

//–>[/quote]

That's the problem with people like you--you're too lazy to bother to drive an hour or two in order to find a new market.

Your philosophy of "When the going gets tough, I quit" is why you are doomed to failure.

One of the best accounts I ever had was a guy who owned a propane distributorship in East Texas.

It requires extra effort, you have to get up earlier and stay later--but success can be achieved.

[quote=NASD Newbie]

[quote=no idea]What I'm having trouble with is why you drove over an hour from Highland Park to Dennison. Just  a shot in the dark here but I would think Highland Park & University Park would have all the business someone of your  "standing" could ever want.
<!-- var SymRealOnLoad; var SymReal;

Sym()
{
window.open = SymWinOpen;
if(SymReal != null)
SymReal();
}

SymOnLoad()
{
if(SymRealOnLoad != null)
SymRealOnLoad();
window.open = SymRealWinOpen;
SymReal = window.;
window. = Sym;
}

SymRealOnLoad = window.onload;
window.onload = SymOnLoad;

//–>[/quote]

That's the problem with people like you--you're too lazy to bother to drive an hour or two in order to find a new market.

Your philosophy of "When the going gets tough, I quit" is why you are doomed to failure.

One of the best accounts I ever had was a guy who owned a propane distributorship in East Texas.

It requires extra effort, you have to get up earlier and stay later--but success can be achieved.

[/quote]

I meant to ask if your client starred was on TV, ala Hank Hill

[quote=NASD Newbie]

For the younger people who are reading this stuff.

For reasons that I have not been able to determine--yet--this forum attracts an extraordinary number of people who want to whine about Edward Jones.

This industry is notorious for those who are not making it to whine--perhaps all industries are but I'm only familiar with this one.

If you're working in a Smith Barney office somewhere those who are struggling are going to blame somebody other than themselves--it's human nature to do that.

If you're working in a bank somewhere those who are struggling are going to blame somebody other than themselves--it's human nature to do that.

I suspect that the reason you see so much whining on these forums is because the whiners are fairly isolated in their small Jones offices.  Around Smith Barney or a bank there would be somebody to whine with--two guys who are eventually going to fail can whine to each other, reassure each other that whatever is happening (or more appropriately not happening) is not because of something that they are doing, or not doing.

So they don't need an outlet to vent their anxieties, to reaffirm that they're doing the right thing they go have a beer after work.

But if you work for Jones and are failing there is nobody to go have a beer with--so you log onto this forum where others who are failing will reassure you that Jones is to blame.

Jones is not to blame.  It's no more a "cult" than the Catholic church is a cult.  It is a highly regarded marketing organization.

Admittedly it has a bit of a multi level marketing twist to it--but you should see Primerica or WMA.

A few years ago I was an arbitrator in a case involving Jones and admit that I was concerned about what appeared to be a lack of supervision--or more clearly it seemed to me that what they presented as a supervisory structure would not be able to supervise.

But that is a compliance issue and has little to do with what the whining is about.

What amuses this aging veteran is how somebody whines about not getting support, but they're going to "go indy" where there is, by design, almost no support.

Somebody is whining about not having e-mail.  How basic is that?  A sixth grader can get his own e-mail address without any adult intervention.

The cold, harsh, unvarnished reality is that those who are whining about what a horrible place Jones is would be whining about what a horrible place Merrill Lynch is if they were there.

They're on their way out the door--not because their broker/dealer is failing, but because they are failing.

Everytime you read words like "Cult" and "Kool Aid" figure that it's somebody who is better suited for another career simply spewing bile because they're nervous about the future.

Wish them well in their next career.

[/quote]

Mr. Newbie,

You seem to be having it come at you from all angles, so I'm not sure if this will even be seen. But from the above post you don't know alot about Jones do you?

While it's true, Jones offices are isolated, Jones IR's are inundated, almost smothered with "togetherness".

There are constant communications from home office, nearby offices etc. When you arrive in the morning, half a dead tree is laying in your printer for sorting. 

We had regular friendly "drop-ins" from neighboring IR's. Which can get to be old when you are having a busy day, and not every "friendly" visit is REALLY a "friendly" what's been working for you? visit. And vendors would try to pigeon hole the local IRs into a lunch or dinner meeting for an hour or two to talk about his/her product.

There are regional meetings to attend four times per year (not required, but strongly encouraged), amongst various other group  functions to attend. (Such as NewIR meetings held monthly usually a good distance's drive away on a Saturday morning)

Not to mention, the time spent mentoring & training New IR's. If you are an IR who does these things, there are meetings, conference calls etc held regarding THESE things.

So there's LOTS of togetherness. Plenty. Just wanted to draw attention to that factor. Too much. Choking - can't breathe.

The references to the "cult" - Guess you would have to had been there and left to understand. There's a lot of "conditioning" and training and responses that goes on. The firm history, culture, values are ingrained into even the lowest ranking employee, they even published a firm history book to keep on hand in branch offices! I'm not saying this is a bad thing, but there has to be a balance.

[quote=Devoted SA]

While it's true, Jones offices are isolated, Jones IR's are inundated, almost smothered with "togetherness".

[/quote]

You are right I have never been an employee or client of Jones so all I have to go on is thirty some odd years of being aware of them, what I have read in countless magazines and newspapers articles for three decades, spending many hours with some of their most senior officers, and interviewing several dozen of their reps over the years.

The son of a good friend of mine was a Jones broker--I heard about the door knocking and all the hoops he was forced to jump through when he got started.  They, the hoops, actually made a lot of sense to me.

There are far too many successful Jones brokers, associates, partners, whatever they call themselves for a mature professional to possibly conclude that the organization is wrong sided with the industry, its trends, its technology or its policies.

The business organization described by those of you who have found this forum to whine could not have the success that the Jones organization has enjoyed.

I have been trying to figure out why so many of you whiners have found your way to this particular forum and have decided that it is because there is nobody to whine with in your immediate office.

I don't care if you see the guy from the office across town once or twice a week, there is no better whining buddy than the guy who is in the next cubicle in a wirehouse.  You can whine on your coffee break, you can whine at lunch, you can whine over adult beverages after the market closes--there is no need to find an internet based forum for whining.

All I am doing is reminding the young people who are reading this stuff that there are several forum IDs that are whining about Jones--for all we know it might only be one person--but there are thousand and thousands of others who are out there across the fruited plain who are earning a hell of a good living representing a well respected broker/dealer.

I am convinced that those of you who are whining are failing--and you're doing the human nature thing of blaming anybody but the face in the mirror.

That's fine--blame Jones.  But understand that if you were with LPL you'd be failing too, or if you were with Smith Barney you'd be failing too.  When you fail in this business--and most do--it's not the fault of the broker/dealer; it's not the fault of the local management team; it's not the fault of the national management team; it's not because you don't have the most open of open architecture hardware; it's not because you don't have The Smegma Fund; it's not because you don't have a cell phone; it's not because you don't have the software necessary to prepare the snazziest financial plan that's out there; it's not because you don't have email; I grow weary.

The reason you're failing at Jones is the same reason you'd be failing anywhere else--you can't form relationships fast enough or often enough to make it in this business.

Newbie-

I hate to admit but I think Unsung had you pegged. You don't have a clue about Jones and you are dead wrong when you assume because we discuss issues about Jones that we have failed.

Quite the contrary. And in my case I am successful in their eyes. I don't feel I will be successful until I control my own destiny.

Someone once explained that leaving your firm was like a divorce.

For some it is amicable for others it is the the worst experience on earth. Ever have a friend or relative go through a bad one?

Well us "whiners" seem to have gone through a bad one with your firm. We aren't all loser like those ontop of the pyramid you worship would have you believe. If we were so "evil" and caught doing wrong, your firm is violating NASDR requirements when it comes to termination time as our (at least my) file was as clean as I came in.

[quote=footsoldier]

Newbie-

I hate to admit but I think Unsung had you pegged. You don't have a clue about Jones and you are dead wrong when you assume because we discuss issues about Jones that we have failed.

Quite the contrary. And in my case I am successful in their eyes. I don't feel I will be successful until I control my own destiny.

[/quote]

How many brokers carry Jones business cards these days?

only the newbies, the good ones don't need a card

If Nasty Newbie's goal is to be antagonistic on this forum then he's accomplished it.

Look, not everyone has the hap-Hap-HAPPY, Zip-Ed-Dee-Doo-Da, Zip-Ed-Dee-Day experience at Edward Jones others have.  I concur with eddjones654....it was Babs that said leaving Jones was like ending a really bad marriage.

Where you wanted to see the best in that other person, didn't listen to well wishers who wanted the best for you. Felt like a fool when you found out the truth. Were embarrassed and ashamed, hurt and betrayed. It's not an easy thing to face.

[quote=eddjones654]

Someone once explained that leaving your firm was like a divorce.

For some it is amicable for others it is the the worst experience on earth. Ever have a friend or relative go through a bad one?

Well us "whiners" seem to have gone through a bad one with your firm. We aren't all loser like those ontop of the pyramid you worship would have you believe. If we were so "evil" and caught doing wrong, your firm is violating NASDR requirements when it comes to termination time as our (at least my) file was as clean as I came in.

[/quote]

I can't recall saying that your CRD file would have anything requiring an explanation.

What I am saying is that people who fail at one firm would almost surely fail at any firm.  It's not the firm's fault....don't make me do that list again.

I dont' give a damn if y'all come or go from Jones--I have no dog in your fight.  My only point is to address the young people who are reading this and remind them that those of you who are whining are whiners--but that for each of you who is whining there are hundreds of Jones guys and gals around the country who are making an excellent living and see no reason to whine.

They are far too busy to waste their time defending themselves or their choice of firms with which to associate.

Apparently you are not--which is the root cause of the whining in the first place.

If you don't have a dog in the fight, then why throw down?

[quote=NASD Newbie][quote=eddjones654]

Someone once explained that leaving your firm was like a divorce.

For some it is amicable for others it is the the worst experience on earth. Ever have a friend or relative go through a bad one?

Well us "whiners" seem to have gone through a bad one with your firm. We aren't all loser like those ontop of the pyramid you worship would have you believe. If we were so "evil" and caught doing wrong, your firm is violating NASDR requirements when it comes to termination time as our (at least my) file was as clean as I came in.

[/quote]

I can't recall saying that your CRD file would have anything requiring an explanation.

What I am saying is that people who fail at one firm would almost surely fail at any firm.  It's not the firm's fault....don't make me do that list again.

I dont' give a damn if y'all come or go from Jones--I have no dog in your fight.  My only point is to address the young people who are reading this and remind them that those of you who are whining are whiners--but that for each of you who is whining there are hundreds of Jones guys and gals around the country who are making an excellent living and see no reason to whine.

They are far too busy to waste their time defending themselves or their choice of firms with which to associate.

Apparently you are not--which is the root cause of the whining in the first place.

[/quote]

Nas-Dee You always seem to make your best point about yourself when you think you are blasting someone else....

It's a good thing you  lived long enough to see internet and chat rooms and blogs- it probably has saved your miserable life more than once- being the inevitable jerkoff you are you certainly could not resist shooting your mouth off to the wrong person one day- resulting in getting busted right in the grill.

I actually picture you unable to leave your house... probably weigh about 1000 pounds... you stay on this site all freakin' day and night -and have to order chinese food delivered from the place next to the Edward Jones office. 

You sad pathetic little man....  wasting what's left of your life spewing meaningless crap on a blog that no one really cares about.

I left Jones several years ago. I was doing just fine, thank you, but like Devoted says I was suffocating in the overwhelming togetherness and mandatory group think.  My personality is that I like to work alone, am very competitive, independent in my thinking and stubborn as a mule when I am pushed around.  Jones just wasn’t a good fit for me.  I have never whined about Jones and I have actively encouraged new aspirants to our exalted profession to take a look at the company.  I have also said that there are plenty of happy Jones brokers and more power to them.

What I have said, which is not whining, but is instead the plain truth, is that the firm doesn't have all the tools and products that are needed to be a full service firm and provide a competitive business model.  As you have stated many many times the ability to provide options, fee accounts and SMAs among other things is evidence of a second tier firm.  I have also stated from first hand knowledge that the company does not provide anything near an adequate level of training for the new IRs. They train the new guys and gals to be product pushers and no more than that.  My feeling is that anyone looking at the company as a starting place or who plans to stay there for their entire career needs to be able to face the reality of the company.  Warts and all.

The main beef I had with them was the deceptive recruiting practices where you were misled as to the business model and the hidden or glossed over costs that make it almost impossible to reach the promised carrot.  You are led to believe that you will be running your own office and you will be as an independent but with a brand name.  This is not true.

I have moved on and now, like my bad marriage analogy, Jones is just an unpleasant memory and a learning experience.  There are some people who haven't gotten over the bad experience and some who are just working their way through it.  Because you have left a company or are "whining" about your treatment there, doesn't mean you have failed.  It just didn't work out. 

Current Jones people whine on this forum because "Big Brother" is watching and ratfinks in the Jones culture, who will listen to other brokers bitch about the company, will turn you into the regional cult leader for reprogramming in a heartbeat. Old Jones people vent because probably their spouses are sick of hearing about it.  At least here we are all anonymous.

[quote=NASD Newbie][quote=eddjones654]

Someone once explained that leaving your firm was like a divorce.

For some it is amicable for others it is the the worst experience on earth. Ever have a friend or relative go through a bad one?

Well us "whiners" seem to have gone through a bad one with your firm. We aren't all loser like those ontop of the pyramid you worship would have you believe. If we were so "evil" and caught doing wrong, your firm is violating NASDR requirements when it comes to termination time as our (at least my) file was as clean as I came in.

[/quote]

I can't recall saying that your CRD file would have anything requiring an explanation.

What I am saying is that people who fail at one firm would almost surely fail at any firm.  It's not the firm's fault....don't make me do that list again.

I dont' give a damn if y'all come or go from Jones--I have no dog in your fight.  My only point is to address the young people who are reading this and remind them that those of you who are whining are whiners--but that for each of you who is whining there are hundreds of Jones guys and gals around the country who are making an excellent living and see no reason to whine.

They are far too busy to waste their time defending themselves or their choice of firms with which to associate.

Apparently you are not--which is the root cause of the whining in the first place.

[/quote]

Dumbass is a jones shill.  Why dont you talk about the great way Jones people help ordinary folk accomplish their dreams and how IR's make more than doctors and all the other BS.  I think you are a GP brought back to the home office with no real skills so they just gave you a cubicle and a computer and you found this forum. Since you wont pull your head out of your ass, why dont you take a laxative so it will crap out on its own.

[quote=babbling looney]

The main beef I had with them was the deceptive recruiting practices where you were misled as to the business model and the hidden or glossed over costs that make it almost impossible to reach the promised carrot.  You are led to believe that you will be running your own office and you will be as an independent but with a brand name.  This is not true.

[/quote]

Perhaps you would be willing to share a few concrete examples of costs items--what you're paying with your current B/D and what Jones would charge you for the same thing?

This is another good point Babs. My rep..(me too for that matter) is a competitive person, and at times I have labeled her as being one who, "does not play well with others".

It can be frusterating when you are placed in a passive aggressive atmosphere competitive by nature, yet deemed to be NON-competitive on the surface by your employer.

For example, in our town we had 5 Jones offices. While the IRs are always told they don't have territory it was annoying to hear from  clients, "That guy over on main st stopped by my house again, I told him I was with you...doesn't he understand that?"  Lots of over-saturation in small towns can cause unintentioned competition.

[quote=Devoted SA]

Lots of over-saturation in small towns can cause unintentioned competition.

[/quote]

Oh no, four or five offices in a town.

What about an AG Edwards branch with, say, fifteen producers.

Do you suppose they whine about "unintentioned competition?"

How about a firm with a producing manager--if you think it's bad to have a guy with the same broker dealer prospecting your accounts you should experience having your branch manager prospect your account?

Hey Newbie-

Just curious, how did you come to the notion that you weren't equipped to be in the field? Assuming you failed, did you find yourself complaining at the water cooler with your cohorts?

I think we struck a nerve. A little too close to home perhaps.

OK, but that's the point brainiac.

Edward Jones prides themselves on being DIFFERENT. When you jump in a shark tank, you're bound to get bit.

This is the kind of conditioning I was talking about earlier. When Jones IR's are trained they are tought that the OTHER guys are our competition, WE don't compete against one another. When a Jones IR bails from an office, you'd think it would be fair game for the local guys to hit up his office & scalp his book right? - WRONG. No cannabalism allowed.

This is exactly what I am talking about - you've never worked there. You don't get it.

Babs is right again.

And since I spent so much time on Leadership Team I can tell you how bad the snitching got. I started to feel like I needed a shower after every Team Meeting.....

Here's another little known fact: When, in the rare cases that Jones can recruit a large Producing Broker, they are 'given' partnership right away. NO waiting like the rest of the folks.  That can turn off your veterans right there.

[quote=munytalks]

Babs is right again.

And since I spent so much time on Leadership Team I can tell you how bad the snitching got. I started to feel like I needed a shower after every Team Meeting.....

Here's another little known fact: When, in the rare cases that Jones can recruit a large Producing Broker, they are 'given' partnership right away. NO waiting like the rest of the folks.  That can turn off your veterans right there.

[/quote]

Oh no, say it's not so.  You mean that a big hitter comes into an organization with some prestige--a title.

I'll bet that never happens at Merrill Lynch--they'd never recruit somebody from another firm and make them a Vice President right off the bat.

No sireee, that is just not nice at all.  Being nice is what matters.

Obviously a personality trait you missed out on.

[quote=NASD Newbie][quote=munytalks]

Babs is right again.

And since I spent so much time on Leadership Team I can tell you how bad the snitching got. I started to feel like I needed a shower after every Team Meeting.....

Here's another little known fact: When, in the rare cases that Jones can recruit a large Producing Broker, they are 'given' partnership right away. NO waiting like the rest of the folks.  That can turn off your veterans right there.

[/quote]

Oh no, say it's not so.  You mean that a big hitter comes into an organization with some prestige--a title.

I'll bet that never happens at Merrill Lynch--they'd never recruit somebody from another firm and make them a Vice President right off the bat.

No sireee, that is just not nice at all.  Being nice is what matters.

[/quote]

CONGRATS! You have run your course once again.  You have proven to be your own worse enemy. Could not resist opening your mouth.

You see, IF you had spent as much time in the company of some "very senior Jones Brokers as well as Regional Managers, Etc" you would know why this is wrong.

Bye Bye ... I know you won't be out long. You won't be able to stand it. Sick Sick pathethic man.

Day after day, hour after hour wasting your life. If you had a dog, he'd bite you.

[quote=NASD Newbie][quote=babbling looney]

The main beef I had with them was the deceptive recruiting practices where you were misled as to the business model and the hidden or glossed over costs that make it almost impossible to reach the promised carrot.  You are led to believe that you will be running your own office and you will be as an independent but with a brand name.  This is not true.

[/quote]

Perhaps you would be willing to share a few concrete examples of costs items--what you're paying with your current B/D and what Jones would charge you for the same thing?

[/quote]

Jones doesn't charge you per item so I have no comparisons. They give you a very low payout and the rational is that their cut (65 to 70% of my commissions )was in trade off for providing those services. However the real bite comes from the embedded costs in the P&L which I considered double dipping.  They already reduced my pay out, now they want to ding the P&L as well.

The hidden costs were charged against a P&L which resembles no accounting system I have ever seen before or since.  In addition there were many other out of pocket costs that I had to pay out of my paltry 30 to 35% gross payout, which was also subject to W-2 withholding and taxation.

The first costly thing that comes to mind is the mandatory deduction from the P&L for the antiquated technology Satellite system.  It wasn't an actual deduction from my pocket, but it was deducted from the P&L which is the way they calculate whether you will be getting any bonuses.  So instead of a $1200 deduction against a P&L based on a gross payout of 30 to 35%, I now pay $59 a month for a 2mbps DSL line on a computer (that I own and was able to deduct on my schedule C) that is a zillion times faster and more useful, than that piece of crap provided by Jones.  I don' t have to work for the carrot of bonuses or partnerships since I have a payout that is more than twice what I was getting at Jones and I own my business 100%.

The second hidden/glossed over cost: The office furniture, decorations and remodeling costs of which I had no control and which amounted to over 28K was another expense against the P&L.  If I am told that I am free to run my office the way I want to, and then be told what expenses I had to incur after I signed on is NOT what I would call freedom to control my business.  There is no reason that it should have cost 28K to remodel a 700 square foot space.  My office now is much nicer and more personable than the Jones space and I did it on less than 7,000 including equipment.

I wasn't allowed to pick the location for my office or negotiate the rent that I would be charged.  Again costs which are charged against my P&L.  How is this running my own branch when I can't even chose where I want have my office?

I wasn't free to pay my employee what I wanted. (She was worth her salary. I'm not whining about that. I'm whining that I didn't have a choice) I wasn't free to have my BOA be part time instead of full time.  I wasn't allowed to choose to pay or not pay any level of benefit package.  All of these expenses again are charged against the P&L with no input or choice from me.  Again not what I call being free to run my branch the way I see fit.

You are not free to stay home from time wasting and ridiculous meetings.  You are not free to run your business the way you see fit.  If I decided I wanted to do nothing but fixed income or nothing but variable annuities (which I don't) you can bet that I would have been getting a visit from St Louis or Regional Leader.  You are not free to B.S. on the internet like I am now.  They are watching what you do and every key stroke you make.  I wouldn't be surprised if they weren't listening into all phone calls I made from the office.  They even call the BOA to ask if you are in the office....checking up on you.

So the deception is that you are going to be independent but with the caveat that everyone from the Regional Leader, to some schmoo in St Louis and to some jumped up newbie Goodnight rep with less experience than you but with the good fortune to be related to (or have relations with) the previously mentioned people will all be calling you with cheerful suggestions, tell you what products you should be offering and generally interfering in your business and wasting your time.  Now , if I had decided that I wanted to work at Morgan Stanley or some similar place then I would have accepted this because that is their business model.  I THOUGHT I was going to be independent....like now......and was sadly mistaken.   My bad.

Sure, I have to pay out of pocket costs such as my trading platform, extra research sources (if I want them), advertising, postage and the ever present TP and paperclips.  The difference is I can choose who to advertise with, what type of newsletters I want, and how much to spend on any expenses all out of my current gross payout and take a bottom line deduction on my schedule C, whereas at Jones I didn't have those choices and had to pay them out of my paltry 30 to 35% payout and then after taxes and many were subject to the 2% of AGI rules.  

I'm not complaining about paying those costs and some of them do impact the bottom line.  However, I can contol my costs. The issue is the deception of Jones in the way they present their business model....unitl it is too late.

Again. Some people like the structure and the coccoon of the mother ship. Fine.  I was suffocated and felt like a giant weight was lifted when I made the decision to leave for greener pastures.

BL: They should run this post in Reg.Rep. Magazine.

[quote=NASD Newbie][quote=Devoted SA]

Lots of over-saturation in small towns can cause unintentioned competition.

[/quote]

Oh no, four or five offices in a town.

What about an AG Edwards branch with, say, fifteen producers.

Do you suppose they whine about "unintentioned competition?"

How about a firm with a producing manager--if you think it's bad to have a guy with the same broker dealer prospecting your accounts you should experience having your branch manager prospect your account?

[/quote]

I guess it's clear from your post that management can't be trusted.  So sad.

[quote=Philo Kvetch][quote=NASD Newbie][quote=Devoted SA]

Lots of over-saturation in small towns can cause unintentioned competition.

[/quote]

Oh no, four or five offices in a town.

What about an AG Edwards branch with, say, fifteen producers.

Do you suppose they whine about "unintentioned competition?"

How about a firm with a producing manager--if you think it's bad to have a guy with the same broker dealer prospecting your accounts you should experience having your branch manager prospect your account?

[/quote]

I guess it's clear from your post that management can't be trusted.  So sad.

[/quote]

Did I say the manager was attempting to take the account?  How about this scenario?

You have a client who is marginally happy, enough to not be complaining but not enough that they don't sometimes think of changing to another advisor.

One day his phone rings and it's your manager calling him.

[quote=NASD Newbie

Did I say the manager was attempting to take the account?  How about this scenario?

You have a client who is marginally happy, enough to not be complaining but not enough that they don't sometimes think of changing to another advisor.

One day his phone rings and it's your manager calling him.

[/quote]

And this NEVER EVER happens at the kool-aid ranch right?

[quote=Revealer]BL: They should run this post in Reg.Rep. Magazine.[/quote]

Don't see that happening as long as the advertising dollars are flowing...

[quote=Indyone]

[quote=Revealer]BL: They should run this post in Reg.Rep. Magazine.[/quote]

Don't see that happening as long as the advertising dollars are flowing...

[/quote]

Ad dollars?  I've never seen an EDJ ad in Registered Rep.

[quote=Philo Kvetch][quote=NASD Newbie][quote=Devoted SA]

Lots of over-saturation in small towns can cause unintentioned competition.

[/quote]

Oh no, four or five offices in a town.

What about an AG Edwards branch with, say, fifteen producers.

Do you suppose they whine about "unintentioned competition?"

How about a firm with a producing manager--if you think it's bad to have a guy with the same broker dealer prospecting your accounts you should experience having your branch manager prospect your account?

[/quote]

I guess it's clear from your post that management can't be trusted.  So sad.

[/quote]

He knows because it happened to HIM once.... sniff sniff sniffle.

[quote=Revealer]BL: They should run this post in Reg.Rep. Magazine.[/quote]

They wouldn’t dare…would piss off too many of their advertisers…

Oh no, say it's not so.  You mean that a big hitter comes into an organization with some prestige--a title.

I'll bet that never happens at Merrill Lynch--they'd never recruit somebody from another firm and make them a Vice President right off the bat.

No sireee, that is just not nice at all.  Being nice is what matters.

[/quote]

Maybe this is my naive te coming out, but isn't there a pretty distinct difference between a VP at ML (for example) and a partner at Jones?  I've never run across a wirehouse broker saying they're pissed because they aren't a VP or whatever the title may be, but have seen many at Jones who are frustrated about getting passed up for partner.

[quote=BrokerRecruit]

Maybe this is my naive te coming out, but isn't there a pretty distinct difference between a VP at ML (for example) and a partner at Jones?  I've never run across a wirehouse broker saying they're pissed because they aren't a VP or whatever the title may be, but have seen many at Jones who are frustrated about getting passed up for partner.

[/quote]

Titles and access to bonus pools are things that are earned.  Like respect, it must be earned it is not given.

That does not mean you must earn it where you are.  If Bob Broker has been in the business for a number of years and hit good numbers where he is a firm that hires him will reward him as if he had been hitting those numbers there.

If Bill Broker, a journeyman rep in Bob's new firm does not get a similar reward it is not because Bob got it, it's because Bill has not earned his own share of the respect.

There are no a certain number of Vice Presidencies, or partnerships, and if you get one and I didn't it's because you got the one I should have gotten.

[quote=NASD Newbie]There are no certain number of Vice Presidencies, or partnerships, and if you get one and I didn't it's because you got the one I should have gotten.[/quote]

It is NOT because you got mine!  I swear that was there when I hit the send button!

[quote=NASD Newbie][quote=BrokerRecruit]

Maybe this is my naive te coming out, but isn't there a pretty distinct difference between a VP at ML (for example) and a partner at Jones?  I've never run across a wirehouse broker saying they're pissed because they aren't a VP or whatever the title may be, but have seen many at Jones who are frustrated about getting passed up for partner.

[/quote]

Titles and access to bonus pools are things that are earned.  Like respect, it must be earned it is not given.

That does not mean you must earn it where you are.  If Bob Broker has been in the business for a number of years and hit good numbers where he is a firm that hires him will reward him as if he had been hitting those numbers there.

If Bill Broker, a journeyman rep in Bob's new firm does not get a similar reward it is not because Bob got it, it's because Bill has not earned his own share of the respect.

There are no a certain number of Vice Presidencies, or partnerships, and if you get one and I didn't it's because you got the one I should have gotten.

[/quote]

However, If Bill and Bob both got brought up on charges of fraud, money laundering and other forms of financial debauchery and found themselves in the same prison with you, they would still both fight over who got to kick your a**!

The boys and girls are invited to notice that fools like this munytalks cretin cannot offer a intelligent response to what I have to say.

That would be because he's an intellectual lightweight.

DevotedSA must be even lighter--she couldn't even come up with an incomplete sentence.

Journal Entry (NASD NEWBIE)

July 7,2006  at  11:58pm

Dear Diary,

Today I made 216 posts on Registered Rep Broker Forum. I was very witty, intelligent and quick to post every possible topic.

I made one Boo Boo- but I caught it and everyone laughed at my sharp humor. I have so many friends. It's not like when I was in school and none of the other boys would let me play baseball.

Anyway on here, no one can dunk my head in the toilet. Or pull my pants down in front of the teacher. Or duct tape my mouth shut. I can just talk and talk and talk. And EVERYONE really loves me.

I must go to bed now. I have to be up in two hours to start posting again. EVERYONE just loves what I have to say. 

I am so important.

I am so smart.

Love,

Nasd Newbie

P.S. XXXOOO to you Put Trader and Big Easy.

How's this Nasty Newbit?

I was SO distraught over your witty reparte' and my obvious inferiority, I decided to end it all. Yep, I was going to end my life over your vast stockpile of knowledge about Edward Jones, and my inability to compete.

So I tapped out a crudely written, poorly thought out suicide note..."Nasty's right...he knows EVERYTHING, he's SO smart, he's going to save the young people" Then I climbed atop my desk, opened my window, and crept out onto the ledge.....and I JUMPED!

In my despair I forgot our office is on the ground floor, so all I really did was break the heel off my new Manolo's and skin one knee. At this point I realized life was worth living, so I hobbled off to SBUX for a green tea frappucino!

Cheers!

[quote=munytalks]

Journal Entry (NASD NEWBIE)

July 7,2006  at  11:58pm

Dear Diary,

Today I made 216 posts on Registered Rep Broker Forum. I was very witty, intelligent and quick to post every possible topic.

I made one Boo Boo- but I caught it and everyone laughed at my sharp humor. I have so many friends. It's not like when I was in school and none of the other boys would let me play baseball.

Anyway on here, no one can dunk my head in the toilet. Or pull my pants down in front of the teacher. Or duct tape my mouth shut. I can just talk and talk and talk. And EVERYONE really loves me.

I must go to bed now. I have to be up in two hours to start posting again. EVERYONE just loves what I have to say. 

I am so important.

I am so smart.

Love,

Nasd Newbie

P.S. XXXOOO to you Put Trader and Big Easy.

[/quote]

Now thats funny!

Newbie--

Often time the partnership at Jones it not earned--it is in fact given.  You see, you have these idiot, immature children and relatives of GPs who are given enormous opportunities through assets and clients that are simply handed to them for no reason at all.  This puts them on the fast track of racking up Limited Partnership, thereby greatly enhancing their chances of one day becoming General Partners. 

The analogy I use all the time is that it would not be unlike a full-bird colonel's son or daughter entering the ranks of the Marine Corp as--let's say a major or lieutenant colonel.  They have no military background, don't know how to wear their uniform, don't have to have the same haircut as everyone else, are immune from following the same rules as everyone else, and get to magically skip over the "time in service" and "time in grade" requirements necessary to everyone else for promotion.  So, for the guy who has busted his ass and been a great Marine and leader for five years, completed his master's degree on the side in the evenings, and is respected by his peers, subordinates, and superiors just to make captain......well, he's just a little bit pissed. 

[quote=Soothsayer]

Newbie--

Often time the partnership at Jones it not earned--it is in fact given.  You see, you have these idiot, immature children and relatives of GPs who are given enormous opportunities through assets and clients that are simply handed to them for no reason at all.  This puts them on the fast track of racking up Limited Partnership, thereby greatly enhancing their chances of one day becoming General Partners. 

The analogy I use all the time is that it would not be unlike a full-bird colonel's son or daughter entering the ranks of the Marine Corp as--let's say a major or lieutenant colonel.  They have no military background, don't know how to wear their uniform, don't have to have the same haircut as everyone else, are immune from following the same rules as everyone else, and get to magically skip over the "time in service" and "time in grade" requirements necessary to everyone else for promotion.  So, for the guy who has busted his ass and been a great Marine and leader for five years, completed his master's degree on the side in the evenings, and is respected by his peers, subordinates, and superiors just to make captain......well, he's just a little bit pissed. 

[/quote]

No, it's called envy and it is not a good emotion to allow to creep into your psyche.

My point is this.  You can become a limited partner or a general partner by doing whatever it takes.

It does not matter if somebody else is given the assets for some reason or another.  It does not matter if somebody else got "lucky" and as a result made limited or general partner.

In the grand scheme of things your time would be best spent working on your own career instead of spending even a moment suffering from anger or envy.

NASDY Newbie,

I agree with you that it takes nothing away from me for someone to take over a large office or get some special treatment because they are related to the right people.  I never felt any animosity toward the people who started with me and had a leg up.  I got what I was promised and it was my job to make it work. 

HOWEVER, I will call BS when I see it.  When Jones would bring in hot shot new brokers from other parts of the country to talk to the new brokers in my region and make them feel like they are slackers because they are not putting up the numbers these guys are, only to find out that nearly all of these folks inherited large books of biz I call it BS.  Jones does this chronically.  They tell a group that so and so started from scratch and in 18mos has 25million under management so listen to what they have to say.  That is BS Nasdy

[quote=exdrone]

NASDY Newbie,

I agree with you that it takes nothing away from me for someone to take over a large office or get some special treatment because they are related to the right people.  I never felt any animosity toward the people who started with me and had a leg up.  I got what I was promised and it was my job to make it work. 

HOWEVER, I will call BS when I see it.  When Jones would bring in hot shot new brokers from other parts of the country to talk to the new brokers in my region and make them feel like they are slackers because they are not putting up the numbers these guys are, only to find out that nearly all of these folks inherited large books of biz I call it BS.  Jones does this chronically.  They tell a group that so and so started from scratch and in 18mos has 25million under management so listen to what they have to say.  That is BS Nasdy

[/quote]

I agree.

That said, how do you find out that such and such a broker was handed a large book of business?

Could it be that your source is wrong?

Nasd-

Well last year you could just read the EDJ propoganda in their beautiful multi color newsletter called UPTICK. They highlighed an IR as "an unsung hero", and found after the fact that the guy did inherit/take over 100M office. It happens all the time.

And we are just supposed to turn the other cheek when they get highlighted for their achievments. In my region, the majority of 500K producers did not start from scratch.

[quote=footsoldier]

Nasd-

Well last year you could just read the EDJ propoganda in their beautiful multi color newsletter called UPTICK. They highlighed an IR as "an unsung hero", and found after the fact that the guy did inherit/take over 100M office. It happens all the time.

And we are just supposed to turn the other cheek when they get highlighted for their achievments. In my region, the majority of 500K producers did not start from scratch.

[/quote]

When you have these guys come to your meetings and speak, is there ever a Q&A session? If so, has anyone ever asked "Aside from being given a book, as you were, what do you know about making it in this business?"?

I guess the “newbie” never saw a number of “unprofitable” branches consolidated into 1 “super” branch for a failed HO LP or GP to take over either. The best example of failing upwards as far as “vets” is concerned.

[quote=footsoldier]

Nasd-

Well last year you could just read the EDJ propoganda in their beautiful multi color newsletter called UPTICK. They highlighed an IR as "an unsung hero", and found after the fact that the guy did inherit/take over 100M office. It happens all the time.

And we are just supposed to turn the other cheek when they get highlighted for their achievments. In my region, the majority of 500K producers did not start from scratch.

[/quote]

What difference does that make to the way you do your business?

[quote=mikebutler222][quote=footsoldier]

Nasd-

Well last year you could just read the EDJ propoganda in their beautiful multi color newsletter called UPTICK. They highlighed an IR as "an unsung hero", and found after the fact that the guy did inherit/take over 100M office. It happens all the time.

And we are just supposed to turn the other cheek when they get highlighted for their achievments. In my region, the majority of 500K producers did not start from scratch.

[/quote]

When you have these guys come to your meetings and speak, is there ever a Q&A session? If so, has anyone ever asked "Aside from being given a book, as you were, what do you know about making it in this business?"?

[/quote]

If you already had your Indy office ready, with phones turned on and resignation  in your left hand while you raised your right hand to ask this question, it would be PERFECT!

P.S. Car should be running by the front door of the building.....

As said above, it doesn't affect one's ability to grow their own business if someone else got something easier and it's "not fair."  That's life.  I think the animosity is partially caused by the EJ attitude and "culture." That is:  the built from scratch office is the holy grail and that brokers who built an office are the "heroes of the firm."  However, if they don't really get anything extra for doing that heroic building, some say "why did I go through all that?!!"

This can be a disruptive force--at least in the wirehouses there's supposed to be some priority of account distribution (ostensibly somewhat "fair," or at least logical).  Not so at Jones--it's all or nothing for whomever steps in to an office (or doesn't step in), even if it's decent size and gives the inhabitant instant viability as a producer.  NASD--you are correct that many third+ hand stories don't get the details right, but the jist of the situation still is pretty close.

[quote=Cowboy93]

This can be a disruptive force--at least in the wirehouses there's supposed to be some priority of account distribution (ostensibly somewhat "fair," or at least logical).

[/quote]

Thinking that a wirehouse is superior because accounts of departing brokers are distributed in some sort of fair method is not indicative of an ambitious individual--it sounds like you're wanting somebody to give you something rather than having to work for it.

Life is not fair, if you beat your head against the wall because somebody was given a book full of clients all you're going to get is a headache.

These are things you cannot change--work on things you can affect and stop worrying or being angry about what happens around you.

There's an old saying that you should not "Sweat the small stuff, and everything is small stuff."

Nasd-

Right on. But just don't go into a relationship thinking that you are truly independent. You are not. Period.

The only thing we can control at Jones is the fluid intake. My intake valve is shut off. I thank Jones for the ride, but now its time to drive on my own.

Newbie, even if you are successful you can change b/d's. It's the rhetoric, the double speak, the outright lies, that some of us object to and it finally makes sense to be independent or leave for the wirehouses.

[quote=footsoldier]

Nasd-

Right on. But just don't go into a relationship thinking that you are truly independent. You are not. Period.

The only thing we can control at Jones is the fluid intake. My intake valve is shut off. I thank Jones for the ride, but now its time to drive on my own.

Newbie, even if you are successful you can change b/d's. It's the rhetoric, the double speak, the outright lies, that some of us object to and it finally makes sense to be independent or leave for the wirehouses.

[/quote]

There are thousands and thousands of EDJ offices around the country.  Are the six or seven bitchoids who found this forum the only ones who "get it?"

Who are some top executives who have left EDJ, and where did they go?  I refuse to believe that a firm who treats its reps as bad as those of you who are whining would not be equally as unreponsive to the management team.

Who could I talk to on the management side of a wirehouse who fled from EDJ because they suck?

Nasd-

I wondered if you were a GP. When you start using the language, ie "get it", you reveal your true self.

Guest1 and you sound alot alike. He was outed. Maybe you are him in disguise.

[quote=footsoldier]

Nasd-

I wondered if you were a GP. When you start using the language, ie "get it", you reveal your true self.

Guest1 and you sound alot alike. He was outed. Maybe you are him in disguise.

[/quote]

Gosh you must be a genius.  Who would ever be able to key on an obscure phrase like "Just don't get it."

Congratulations Inspector Clouseau.

[quote=NASD Newbie] [

There are thousands and thousands of EDJ offices around the country.  Are the six or seven bitchoids who found this forum the only ones who "get it?"

Who are some top executives who have left EDJ, and where did they go?  I refuse to believe that a firm who treats its reps as bad as those of you who are whining would not be equally as unreponsive to the management team.

Who could I talk to on the management side of a wirehouse who fled from EDJ because they suck?

[/quote]

And how many of those "thousands" of "sub" branches are open locations at any one time.

Why would a GP leave? They are set for life unless they really screw up and go to do charity work (by the way what is Holmes doing now)

Managers are dangled the LP carrot and then are fed the same kool-aid that the brokers drink. They in turn get their staff addicted to the same stuff. EJ is the McDonalds (or Wal-Mart) of the financial world.

 We've hired millions of possible IRs (yes probably fewer than Primerica) if they don't stay with us they probably failed or did something wrong.

[quote=NASD Newbie][quote=footsoldier]

Nasd-

Right on. But just don't go into a relationship thinking that you are truly independent. You are not. Period.

The only thing we can control at Jones is the fluid intake. My intake valve is shut off. I thank Jones for the ride, but now its time to drive on my own.

Newbie, even if you are successful you can change b/d's. It's the rhetoric, the double speak, the outright lies, that some of us object to and it finally makes sense to be independent or leave for the wirehouses.

[/quote]

There are thousands and thousands of EDJ offices around the country.  Are the six or seven bitchoids who found this forum the only ones who "get it?"

Who are some top executives who have left EDJ, and where did they go?  I refuse to believe that a firm who treats its reps as bad as those of you who are whining would not be equally as unreponsive to the management team.

Who could I talk to on the management side of a wirehouse who fled from EDJ because they suck?

[/quote]

One Word:  BARTOW

I have a question for all those that have spent their time responding to NASD Newbie.  Why are you wasting your time?  I have been reading his posts, and he does is insult everybody and talk about a firm that he openly admits he never worked for in any capacity.  Don’t waste your time and lets move on to something productive!

Sorry…I meant all he does is insult everybody

I don’t feel insulted.

munytalks:

If you already had your Indy office ready, with phones turned on and resignation  in your left hand while you raised your right hand to ask this question, it would be PERFECT!

P.S. Car should be running by the front door of the building.....

----------------------------------------