Questions for ezmoney

or Register to post new content in the forum

 

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Jul 21, 2005 1:44 am

ez, read your post (below) from another thread and it describes me almost exactly - I'm 18 months in, netting around $60k on the last twelve and I too am looking for the greener pastures of the banks.  I would love to have an offline conversation with you, but for now, I would appreciate your input on the following:


1. Did Jones come after you for the $75,000 in training fees? (a bargain, really, when you consider the fact that a similarly priced MBA from Harvard does not include room & board in sweet digs like the Westport).


2. How hard was it to transfer your good clients?  Did they go for a TRO, how soon were they calling on your book, etc.


Thanks in advance.



"With only 17 months in the biz, in 2003 with Jones I made about $65k minus expenses of about $7k and I netted about $58k.


I left to join a large national bank at the start of 2004 and I'll finish the year at about $110,000 net no expenses. BTW life is a whole lot easier. In less than 4 months I have now built up a fee based residual of about 25k recurring income for 2005. I estimate by the end of 2005 I should have a recurring income of about $60k net.


I would have never had this at Jones. The bank is O.K. not perfect but better than a wirehouse. I can be at home playing with the kids and get a phone call from one of my bankers with a great referral for me. That's nice! "

Jul 29, 2005 11:46 pm

i would hope jones would come after you for the training fees. you do owe them after all, but don't flatter yourself. it sounds like you will fit in perfectly at a bank.

Jul 30, 2005 12:30 am

Oh boy. Gotta love those "$500 too much in my checking account. Can oyu help?" referrals..

Jul 30, 2005 10:09 am

Thanks, hawg and Guest1, for your most helpful responses, you are both a credit to the good people at Jones.  Keep knocking and selling them preferreds and maybe someday daddy Jones will let you take the AAMS.

Jul 30, 2005 1:43 pm

Sorry WANNABE, I do hold my CFP and have for over 10 years.

Jul 30, 2005 3:27 pm

A CFP is worthless and for individuals who don't have a degree. It makes the CFP feel better becuase he has this two bit designation over the real degree he could have received. You want to better yourself go get a maters degree in financial planning. At least then you have a graduate degree as oppossed to a simple designation. BTW I have a masters degree in business. A real graduate degree.

Jul 30, 2005 3:29 pm

BTW. no, they did not come after me for the costs involved with the  joke they call training. No, it was not difficult transferring my clients. Took about 90% of the ones I targeted.

Jul 31, 2005 5:02 pm

EZ, I agree, was just correcting wannabe. I could say the same for your MBA though! In over 13 years I can't think of one "real" client that has asked me about it. Suppose you have yours framed on the wall!

Jul 31, 2005 7:37 pm

Thanks guys. BTW I don't hang my master degree in my office.