Former Jones broker done good?

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May 7, 2009 2:44 pm

Van Pearcy



May 7, 2009 3:24 pm

Did you know that Van was almost fired from Jones early in his career for lack of production?

May 7, 2009 3:32 pm

No panty Fridays anyone?



May 7, 2009 3:32 pm

Was he really.?

May 7, 2009 3:44 pm
Spaceman Spiff:

Did you know that Van was almost fired from Jones early in his career for lack of production?


 
Probably the same way every FVP and high producing "rock star" at my company was once on an "action plan" for lack of production.  Let me guess, at one of your conferences the leader talking to everyone said "This guy was 2 weeks away from getting fired.  We all thought it was a lost cause.  Then he spends the next 72 hours STRAIGHT knocking on doors, not taking no for an answer, and on the last day he got his $1,000 of production he needed to keep his job, and then 5 years later he's in the top 3% of the company, bringing in PILES of money every day!  If he can be that close to losing his job and then turn it completely around, why can't EVERY ONE OF YOU be in his shoes at some point??"
 
Not saying it wasn't different with this guy, but I heard the same b.s. about every high-up individual in my company and after I was told our Regional VP was once on an action plan I threw my hands up and tuned it all out.
May 7, 2009 3:59 pm

On one hand I stick up for Jones because they get bashed unbelievably on here. On the other hand, I like to pile on because of what I saw first hand. Perception becomes reality at some point because there is too much venom for this anger to be unfounded.

May 7, 2009 4:18 pm

Wasn't this the guy where they offered to let him take part of his book, so he took the bottom half knowing the top half would come with anyways?

May 7, 2009 6:42 pm

What does, he built his practice 'with his father's encouragement' mean?


May 8, 2009 9:50 am

I'm struggling with the math on this guy. It says he has 28 years experience but he's only 47.



47-28=19



Haven't you always had to be 21 to get licensed?

May 8, 2009 10:00 am

Yeah he is full of it... so either he is older than 47 or he is exaggerating his experience.. Because he didn't start until 1988.. Before that he was trying to make the NFL.

May 8, 2009 10:36 am

Was looking at his bio.. he offers "How to build a high networth practice" 4 day event for $2K.... Anybody ever do this?

May 8, 2009 10:41 am

PS: his website claims 22 years of experience..

May 8, 2009 10:56 am

Just read the first line of the RR article on this guy and I already do not like him.  Notre Dame!

May 8, 2009 11:35 am

OK, here's the story as I have been told from a former Jones guy who used to be in Midland with Van. 

 
Van hits Midland and gets going but starts to stumble.  He's a young guy, new to the biz, in oil country where there's lot's of money floating around.  Gets the call from Jones that says either put up the numbers or we're booting you out of your office.  Here's where they Notre Dame affiliation becomes a big thing for him.  Evidenlty there are some other Notre Dame guys in town.  Van is friends with one of them, an attorney as I recall.  So, Van goes to this guy as a friend and says that he's about to get fired if he doesn't do some business quickly.  Of course the friend feels bad for him so he tells Van to follow him around.  They then proceed to walk into dozens of other businesses and offices around town where some other Notre Dame grads are.  The guy introduces Van as a Notre Dame alum, tells them to get out their checkbook and write him a check.  Not wanting to see one of their own go down in flames, they all comply and Van's job is saved. 
 
That is until he starts promoting no panty Tuesday (or Friday depending on who's telling the story) and Jones fires him. 
 
As I recall we fired two big producers right about that time.  Both from Texas.  I can't remember the other guys name, but he wanted to buy his own jet and have Jones reimburse him for the travel expense because he would be using it to visit clients.  That and a few other compliance issues later and Jones hands him his walking papers also.  I think they were both top 10 in the firm at the time.   
May 8, 2009 11:56 am

Yeah he is a wreck now since he left jones.. $5Mil in production $600M+ in AUM..

That is the great thing about jones.. there are tons of stories of these huge producers and the outrageous stuff they did..
May 8, 2009 11:57 am

Who is number 1 in jones now? There was a guy in seatle area who was pretty big..

May 8, 2009 12:05 pm
Incredible Hulk:

I'm struggling with the math on this guy. It says he has 28 years experience but he's only 47.

47-28=19

Haven't you always had to be 21 to get licensed?

 
No, I was licensed at 20.
May 8, 2009 12:06 pm

Are no panty days wrong?  What is happening to this world?

May 8, 2009 12:16 pm

With my old BOA they would have been...

May 8, 2009 12:16 pm
jkl1v1n6:

Are no panty days wrong?  What is happening to this world?

 
Exactly ! I can't believe I got push back from management about no pants Saturday at the bank ! I asked them if I could do it if I just stayed behind the desk and they still said no !