Left jones....update

hmmm 8-10 Clients a day=78%? Pretty small book. Have fun.

I meant to add, in only 2 weeks. 14 days x 10 clients per day = 140 clients…Awefully small book. Good thing you didn’t go indy. So what did you really gain at another firm? Oh yeah, I forgot, you understand.

He gained his freedom and self-respect, Kool-Aid drinker.

Ah, thanks. I forgot. But, I thought the only TRUE FREEDOM was indy?

Guest 1,

OMG...you moron. You are the reason I left - I bet you have a degree in horticulture or an associates in English literature or some crap. Whover said I had a HUGE BOOK...  I moved my family 2500 miles to an unknown town in order to have the lifestyle we wanted when I started with Jones.  Didnt know a soul...built it from scratch not knowing anyone..in 18 months built it to 6mill, and yeah, I had 118 households, and I am taking about 100 of them.  But now my skills are catching up with me and averaging 700k in net new assets a month for the last 6 months. This isnt about a huge book move...its about going to where I can build a business.  I am so glad I am not going to be supporting your lousy LP...the firm I am now with has been one of the best performing Financial services stock for the last 30 years. 

Again.. to all the folks that do get it....thanks for the support.

Guest1,

Why are you so venomous about me leaving?  Is it because you waited too long and now are trapped and cant leave? Hmmm, odd....

Trapped? Hardly. Sorry if I seemed venomous, just had to poke fun. I really doubt you have or will get 78% but this board is a great place to boast. no one knows!

You found me out...I have actually kept 3%, and that is my mommy's acct.  The rest said they invested because of Jones and not because of me.  They said no matter who came in my place ( in this case someone 10 days out of eval/grad) they would stick it out because Jones is what they trust..not me.  They said they would rather stay with the  gal who was a loan processor for a title company, than move with the guy with the finance degree (4.00gpa...but you never know on this board) and the MBA

If you enjoy jones....great more power to you....someone has to work there, and train the guy that used to drive a beer truck...i guess. See, the difference is...unlike you, there are other people on this board that have moved, and they know that this is a relationship business, not a "firm" business.  And they too have experienced..."you have email, where do I sign?".  If you arent comfortable with the fact that if you moved you would keep 80%+ of your book, you arent doing your job.  Of course, when you have 2000 clients and have to bring in 8 million a year in new money just to make 150k 15 years in....I would be a little worried too.

It's laughable, you do all this math to figure out if I am telling the truth in my post, but you cant do the math on going indy in your situation...since you are such a big producer.   I didnt post that for people at Jones that love it to second guess me, I did it to push the people on the edge over it.

Wow, issues here. Have a nice time.

Guest1,

I believe us 'darke siders' realize who has the issues with that powerful narcotic 'koolaid'.   G1 look in the mirror for your answer.

[quote=ctlatinger]

  If you arent comfortable with the fact that if you moved you would keep 80%+ of your book, you arent doing your job. 

[/quote]

Amen, brother!

Can anyone say un-professional???

I am not a jones guy, and therefore have no opinion on the firm, the only thing that I do know is that in my area they do a fine job for the most part.

Have some common decency and leave the bashing to yourself. One thing I will say though is you ex-jones guy obviously have no respect for your previous employer. Isn't kinda rule of thumb not to bash your past employers...didn't you learn that in ethics?

Bottom line, Move on your not at jones anymore so why do all of you always talk about it still?  Must be thinking about going back?

Oh Im sorry.  Youre right liquidasset.  We shouldn't bash EDJ.  Ahhh, hang on bozo but speaking for myself I never left with the intentions of bashing them.  To the contrary, I even sent letters to all the members of a new hire training class I was in the middle of in St Louis telling them EDJ was a great company and don't be concerned that I was leaving because it was just the direction of my business that required me to leave.  I sent freaking thank you notes to people who had helped me through the years.  I praised the company!  I thought nothing but good of that company as I was leaving. 

Well what a fool I was!!!! So what they did once a GPs relative decided to take over my office was to lie and misrepresent my actions to my clients and take me to court "literally put up on the witness stand to be cross examined,"   The misrepresentations to my clients and outright lies were beyond belief and any decorm of ethics.  ANd the GP flew in from out of state to come to my office to help spearhead the lies and misrepresentations.  This by the way is a very well know GP that EDJ guys would recogninze the name of.

So, liquid, lets talk about unprofessional.  EDJ is the most unprofessional, hack, lowbrow company I have ever been associated with.  I love kicking their ass now in so many many ways. 

Oh yea, and then there was the former regional leader/GP who actually tried to lure my BOA that I took with me back to him with large incentives offered if she could bring back MY clients to him!  The BOA still works for me but this actually happened.

Oh yea, lets talk unprofessional.      

 Malcolm,

( So, liquid, lets talk about unprofessional.  EDJ is the most unprofessional, hack, lowbrow company I have ever been associated with.  I love kicking their ass now in so many many ways. )

Thank's that sums it up for me....

I hear of stories like that everywhere...nature of the beast. If your happy now then so be it. Good for you.

liquidassets,

In one form or another the majority of us 'darksiders' have been treated with the same unprofessionalism that Malcolm has mentioned.  This is EJ's MO for dealing with ex-employees (brokers, BOAs and even HO staff). 

[quote=Guest1]Ah, thanks. I forgot. But, I thought the only TRUE FREEDOM was indy?[/quote]

ctlatinger stated that "I feel like I have been let out of Jail".  So apparently you don't have to go indy to feel good about leaving Jones.

Yes, guest, the only true freedom is being indy, but not everyone needs that much freedom to feel good about themselves.  I don't have any statistics about brokers going indy, but then going back to a captive situation, but I can't imagine it's a large persentage, especially if one is successful as an indy.

BTW, how many ex-jonsers come back?  I can't imagine that's a big number either.

CTLatinger,

     Someone has to make you face the truth, so it might as well be me.  6 million assets in 18 months is a joke.  Funny how right after your base salary ends, you jump ship.  H & R Block gave you 10 branches to bounce around to, and you took the gig.  I can appreciate the fact that after your first year it gets tough financially, but the fact you can't hack it is quite transparent.

     I see this happen all the time, and let me guess what you told your mom and dad, sister, neighbors, and people you know.  Tell me how close I hit home, because I KNOW FOR A FACT this is the type of person you are.  "EDJ did some things that I couldn't get behind morally", "I was picked on by management", "EDJ's compliance department did some shady things" etc., etc., etc.  What you don't have the balls to face is your own failure.  Go look in a mirror each morning and continue to lie to yourself, I hope it's worth it.

     We don't always do a good job screening applicants, and future Credit Union and Bank brokers occationally slip through.  Take responsibility for your own actions (or inaction) and quit bashing.  The truth hurts, but like I said, I bet I hit the nail on the head.

OUCH!

"One thing I will say though is you ex-jones guy obviously have no respect for your previous employer..."

Hmmm....did ya ever stop to think that there might be a REASON for that common pattern? 

wow, i haven’t been to this forum in several months due to all the disgruntled ex-jones losers who got fired for non-production. get on with your lives.the reason everyone is so anti-jones here is the same reason other countries hate our great country; envy! America is not perfect and neither is Jones, but they are the best we got! Have a nice life!

hate me now...H&R block...hahahaha. Again, typical of a Jones rep, thinking H&R block is your competition.  I didnt go to H&R block you blockhead.  Read my initial post in detail and you might be able to figure out where I went - I dont think H&R block is the worlds largest asset manager.  In addition, you dont know anything about me...I mentioned earlier that I moved 2500 miles to a town where I didnt know anyone to build my practice....it takes some time to get things going, I also didnt say I only had 6 mil...6 mil in 18 months...., just back from California today where I signed a 3.5mill client - 90bps. Now, who is envious...the guy that looks out and sees advisors with $150 mil @ an average of 1%....or the guy that looks out from his desk of 300 clients @150mil @ 1% and sees a guy with 150 mil, of which 40 is bonds and dont pay him anything unless he finds someone to buy some today(oh yeah, chances are those bonds you are selling were issued originally from MY firm - worlds largest issuer of Muni's)...and has 110m @ 25bps...and cant get paid higher than 39%.  Ive got insurance for my whole family @ $150/m, Ive got a 6% match on my 401k, I never have to be scared that I might meet a sophisticated client and not have what I need to service them.  Envy...not hardly...absolutely stunned at the ignorance of Jones folk...and if we are comparing H&R block and Jones.....I give the nod to Primerica. 

PS: Please no longer place the greatness of my country in compatibility with Jones - Though America may be great...Jones isnt the best its got. Tried a stock collar recently?

You guys should have spent some time at Jones…this aint nothin!

ctlatinger,

     I love being told by an 18 month rookie how things work.  Just because your uncle finally signed up and doubled your assets, doesn't make you a baller.  I've got news for you.  No one in your new office will even learn your last name because they know you'll be gone within 18 months.  You'll be Henry Blodgetted before you know it.

     Zacko is at least a veteran, and he is entitled to his opinions, and I agree with many of them.  You on the other hand, make a mockery of the industry.  If you make it a few more years, start running your mouth again.  Until then keep your rookie, chop shop, joke mouth shut.

ctl is just as entitled to his opinion as you are to yours...and Zacko doesn't need your hero worship.

The banks are probably glad you're not there either.

Energy and a positive attitude will take you farther than you think it
could, and letting the negative weights of “youcant…” and others is
useless.  When I left a bank everyone thought I was nuts. 
Terrible market, my new firm was the courge of the industry, and I was
leaving 70% of my book due to it’s small size.  I mean EVERYONE
thoguht I was nuts, to the point my former boss felt compelled to do
some charity and “allow” me to come back after 3 months. 



I kept my head down shouldered up with the resources I was paying for
with my 40% pay-out (I was 50% at the bank), and made them work for me.
80% fee based now, I have nearly doubled my very best year at the bank,
which was just a hair over a million.  The assets I brought over
with me?  Less than 35 million.  Truth.



CTL- when anyone leaves a firm to move on, ( or leaves a job to come
into this industry for the first time) whether Indy or not, it is an
act that warrants some respect becasue it is hard.  These prople
bashing you must never have went through it, so they don’t
understand.  If they did, they are just spewing garbage, so don’t
pay attnetion.  I belive this goes for everyone, regardless of the
firm they go to.

I like hero worship.  I wish my wife practiced it.

[quote=zacko]I like hero worship.  I wish my wife practiced it.[/quote]



I am confused by your post?  Where is the Horo Worship?

Revealer, you’re right! I need to take a break though once in a while. I seldom post during the day. Had a good am so I guess I got carried away.

g1,

You forgot to mention the real reasons why you don't post during the day!

St.Louis is watching all the sites you visit when I was there last I recall no-one (besides HO) could log in sites like this.

No...now you can.  They do block many sites though.  I don't remember this being one of them. 

AND you can no longer have your own PC in the office either.  Funny, that I run my entire business over the web using a standard PC and a DSL connection.  I even use this crazy thing called...email.   Jones HO employees have email and us it but they don't trust their brokers enough yet with such a huge responsibility such as email.  Baby steps...baby steps.

Hmm, I have DSL and a PC in the office. As well as Jones email. Come on guys, be a bit more accurate. Oh XEJ, I am posting this from work on the Jones system.

g1,

Well wonders never cease! Welcome to the 20th century!

JONES email?  So, you can send an email and receive them from clients, friends, etc?

Your PC is allowed to be connected to the internet?  Did you check with compliance?

Yes and Yes and Yes and Yes

Guest1,

Come on..you are lying...and unlike the others, I just left there 3 weeks ago so I know it.

1) You cannot have any email correspondance whatsoever with clients

2)You might be on the email pilot program, but for you to say you have email in terms of representing that all the firm does is erroneous.

3) Compliance did not clear you having an external computer in you office with connection to the internet..outside of the potential of the Pilot email program. You are allowed to have external computers for the purpose of PPT presentation materials, but are supposed to NO client info on the computer...and it is subject to inspection from the auditing team.  You are blowing smoke and you know it...or you are in danger of being dinged big time from Jones police.

4)Now, about this Pilot email program of which like 200 branches have...i have spoken with some people using it...and they hate it.  About every 20 words it dings at you and says that "The word or phrase you are using is non-compliance approved and must be removed from the statement" or something to this effect. Anyone else out there having there emails chopped like this?

Guest1, if you want people to listen to your side, you have to approach it without false statements...it kills the credibility. 

Oh, in favor of Guest1 to show I am fair…you can access RegisteredRep from the jones computer system.

CTL, had three this am from a client overseas. Call your people at Jones. Rolled out two weeks ago. I was not and still am not on the pilot. I have had a PC for over 5 years with a connection. They look at it sure, but never an issue. I have had no issues with sending emails, not that I want to send any out. (Maybe they have not rolled it out to offices under 100k gross and that is why you did not have it?) (sorry, I slipped)

Please, do not do anythoing in FAVOR of me. Get back to your acats. 

Just talked to a Jones buddy this morning, and he asked me if email was helpful...didnt say anything about everybody having it.  I am still friends with my former BOA, and have talked with her about once every 72 hours since the move...nothing about email.  I dont buy it...but I dont care, I just think you arent being truthful.

One thing, what has been the purpose of the online PC in your office for the last 5 years? If you cant send email, and cant keep client info, and dont have alot of Websites blocked by jones...why the hassle? I am being serious here, not throwing flames.

[quote=Guest1]Hmm, I have DSL and a PC in the office. As well as Jones email. Come on guys, be a bit more accurate. Oh XEJ, I am posting this from work on the Jones system.[/quote]

You mean from your tiny little desk in DesPeres....what department do you work in?

 Guest1 is  a joke,email at edj please!!! Its still being tested whatever that means

[quote=ctlatinger]

Just talked to a Jones buddy this morning, and he asked me if email was helpful...didnt say anything about everybody having it.  I am still friends with my former BOA, and have talked with her about once every 72 hours since the move...nothing about email.  I dont buy it...but I dont care, I just think you arent being truthful.

Your buddy is clueless. The new IR I was working with has it in their office. (took over a shell)

One thing, what has been the purpose of the online PC in your office for the last 5 years? If you cant send email, and cant keep client info, and dont have alot of Websites blocked by jones...why the hassle? I am being serious here, not throwing flames.

Don't worry, your flames do not bother me! I use it for outside research, have a morningstar subscription, Bill Good (at one time, big mistake) What client info would I want to keep on a pc that I can not keep on JCMS? Unless I was planning on leaving and STEALING the information, why bother.

CT, unlike a lot of the professed Jones people posting on this board I am not here for ego or to fight the fight. I enjoy the controversy and Zacko knows I am who I say I am. So don't insult me by telling me I am lying here or do not know what I am talking about. I can talk (and do) production with the best of them. This board is just a cheap amusement.

I don’t get the whole wigout thing on edj Guest1. I would think that
tradeoffs are made where ever you go. I am a new IR and I like most of
what I have seen at jones, I say most cause only a fool likes
everything. I could have gone in a number of different directions but I
chose jones for the fit.



If you make more money than I so be it. I like the idea of being part
of something bigger than myself and also being able to do my own thing
a big part of the time too. Having done sales in other enviroments I
have seen where putting a bunch of swinging dicks in the same office
winds up in a big head game wear sales levels wind up becoming like
some big zero sum game. So if I want to be part of an organization but
I want a bit more team work I think I have found the right place.



I think that the Wirehouse guys and the Indy guys are coming at this
from two different directions. The Wirehouse guys are like towel
snapping frat boys who enjoy pushing out newbies who like to pushout
newbies and take their accounts and prospects.



The Indy guys are a bit more sincere. They just can’t imagine anyone
not wanting to go it completely alone. They see the payout as the end
all of why they have blazed their particular trail. For this I commend
them and admire them. I have run my own business and I don’t
particularly wish to do it completely independently on my own. Day to
day attitude is a different story.



I have seen IR’s that are goofy and fun and make a bunch of money
working with people who appreciate this type of personality and I have
seen the tight ass types who draw upon those who appreciate this.
Either way is ok. I might be abit of both.



The wirehouse guys who like to sh*t all over and sewer those in their office continue this attitude here.



Just my perspective what do you think Guest1?

Don’t give the INDY guys so much credit. I agree, it is NOT always about the money. (hmm, I stated that a few threads back and got blasted) have fun with what you are doing, work hard (I assume you are newer) an STAY AWAY FROM THIS BOARD! It is full of people with way too much time on their hands, limited knowledge on the subject they are commenting on and too many axes to grind. (myself included on occasion)

[quote=Guest1]It is full of people with way too much time on their hands, limited knowledge on the subject they are commenting on and too many axes to grind. (myself included on occasion)[/quote]

I have to agree with you there, Guest1.  I've always found, based upon your posts, that you have limited knowledge along with an axe to grind.

LOL

[quote=Guest1]STAY AWAY FROM THIS BOARD! It is full of people with way too much time on their hands, limited knowledge on the subject they are commenting on and too many axes to grind. (myself included on occasion)[/quote]

g1, you sound like a gp wannabe?

Guest1 has always done his best to argue the points and point out any inconsistencies in most anti-jones messages put forth within this forum.

Although I am certain he is incorrect and misled in regards to Jones--I still have a very high degree of respect for him and the way he has built his business.  He is far from a liar and has a more successful practice than 95% of the people who post here, maybe even myself included.

[quote=zacko]

Guest1 has always done his best to argue the points and point out any inconsistencies in most anti-jones messages put forth within this forum.

Although I am certain he is incorrect and misled in regards to Jones--I still have a very high degree of respect for him and the way he has built his business.  He is far from a liar and has a more successful practice than 95% of the people who post here, maybe even myself included.

[/quote]

G.

I'll ditto what Z said, but you've got to clear up this email thing.  You seem to be losing credibility with that one.

1) Seth, I am concerned, is unfortunately already absorbing all he is being told. I work in a wirehouse now...the environment isnt as he describes, I doubt he has worked in one.  Any firm has its flaws, but for me - my current firm is light years ahead of where I was, and is allowing me to build a business the way I want.  Some may be that way but not all, and at the end of the day, Jones or not - 10% of people remain 5-7 years down the road - so someone has to help these clients that dont have an advisor anymore. 

The fratboy environment stereotype comes from the drive it takes to succeed - winners dont want to be around losers...and in this case losers isnt a personal slant, it is relative to an individuals ability to gather new assets and service them.  Honestly, I dont think it is so much fratboy as it is raw capitalism - reward the winners alot...and take from the losers.  At Jones you can sit in your office and look at the Monthly Standard Chart, and feel okay about yourself - at the wirehouses, the production of all is put on the wall to look at and measure - works for some, but some not all - just as Jones works for some, but not all.

2) I dont know enough about Guest1, maybe Zacko knows him personally from back in the day, but the extremes Guest1 represents from the Jones standpoint often get to me.  I dont see people rushing to back him up about email after 24 hours or so on the board, and lots of Jonesers read the board.  I just left there 3 weeks ago...Seg 3 producer, in touch with the firm and what was happening, spoke with several jones people in the last 24 hours...and none have email. Liar...most likely not....but I dont understand the steadfastnest in representing what is likely untrue based on all the information available. 

I would think...maybe incorrectly, that had by circumstance everyone in Jones gotten email except 1)my former office, 2) My seg 3 friend I spoke with, 3)My 2 seg 5 friends, 4)and my 1 seg 4 friend...that this board would have lit up with responses from Jonesers.  That hasnt happened...we just have Guest1 non-chalantly stating "I have email, no big deal, had a computer and DSL for years". Maybe my logic pattern is flawed, Ive been wrong before - I did leave Jones afterall.

3)Where the heck is Babbling Looney...havent heard from her in a while..or am I happening to pick posts she isnt on?

Wow, almost positive comments directed at me? Maybe it's time to leave (sell at a high) however, I am not worried about losing my credibility on an anonymous board!

That said, I am also not arrogant enough to think I know all things, Jones or not. I called 6 IRs in my area this am and all 6 have email. I then called several I know in Zackos state, only one of them did. So, I am saying that MAYBE I WAS WRONG in that everyone had it today. It could be a geographical rollout. Don't know, don't care.

(I know my email works because I got the RRMAG report card survey. Can I fax it to someone to complete the Jones part for me? LOL) 

"The Wirehouse guys are like towel snapping frat boys who enjoy pushing out newbies who like to pushout newbies and take their accounts and prospects. "

Seth, with all due respect, try to tak e alook at a number of clients brought on by newbies in the business.  A hungry new FA will do what they can in the early stages to bring on any decent client.

On the other hand, a tenured wirehouse "fratboy" is typically working with higher net worth clients and working off of a referral system (obviously there are cases where an FA will have smaller clients in their book and most will always continue to market - simply for examples sake before you Jonesers come up with a quick comeback).

In my experience, a seasoned successful "fratboy" will not poach off of the newer producers when they leave.  Those accounts will typically go to call centers, unless they are a solid one. 

Any wirehouse producers - correct me if I'm mistaken.

BR,

There definately is nudging. I have experienced this. I never understood why it was worth it to a guy who is making $500,000 a year, to mess with newbies. I guess, the favor factor with management. (If Sr. takes newbie under his wing, so Mgr. does not have to baby sit, who do you think inherits newbies Asetts when they fail, and who does management reward, when an opportunity to direct new business comes along. When Joe 35 year vet decides to leave and try and take his $400 million dollar book to LPL, who do you think gets first crack at Joe's big accounts----the loyal senior brokers.

The big guys get bigger, and newbies fight for there lives. However, It's a right of passage thing. My partner (1 million dollar guy), tells me of when he was new, and had to deal with the same crap.  Survival is key. If the firm "likes" you, and feels you are a good representative to the community, they will bend over backwards to help you.......not everyone is "liked".

I know of many larger producers that like to help out, in fact they are
more than willing to donate time, just not in the middle of the
day.  I am run rookies in our office and I blasted an email out to
everyone doing over 750K in production asking for them to serve as
mentors and/or speak at meetings…90% said to 1 or both.  They
don’t get paid, just get a little satisfaction from helping out, plus
stroke their ego a bit.

[quote=rightway]I know of many larger producers that like to help out, in fact they are more than willing to donate time, just not in the middle of the day.  I am run rookies in our office and I blasted an email out to everyone doing over 750K in production asking for them to serve as mentors and/or speak at meetings...90% said to 1 or both.  They don't get paid, just get a little satisfaction from helping out, plus stroke their ego a bit. [/quote]

Yes Rightway, there is a Santa Clause..............except those producers over 750K help out because it helps their BONUS, and their LP, or GP, I was one, you help because you get paid very well to do so, if you don't you don't get LP and don't even think of GP if you are not actively helping, it will never happen.........

IT's ALL ABOUT THE MONEY...ask T.O...........Once I understood it, I left and now I keep all of the extra time for my family, and I get the bonus( more Commissions & Fees) to help my clients instead...............