Any Edward Jones veterans here
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Spears, I think you’re missing my point. I’m not pissed about anything.
What was I going to do, go indy out of the gate?? Not gonna happen in
my community. Jones has been very good for me. I don’t get FSpends
(yes, I actually do what is right for the client), I’m not a New IR, nor
Segment 1, so I didn’t attend those for very long (actually, my New IR guy
was really good - he held the meetings on Thursday nights at a nice
restaurant - and it was close to me - and it was actually helpful starting
out), we don’t have call sessions in my region (I think they used to), and
our payout is basically the same as all wirehouses/regionals. My guess is
that I work in a very good region. There is very little concentration of
offices here (one about every 25-35 miles, some more, some less). Only
a few towns in my state with more than one office (none with 3), and
those were all Goodknights. And we all actually like each other. Yes,
there are some goofballs - not sure how they actually do business. But
overall, a really good region. I actually enjoy the comradery.
Here’s the deal, and I can’t believe I have to say this again; I wouldn’t have
known where to start in this business without direction. I have very good
business sense due to my background, but that didn’t mean much until I
learned the business. Jones gives you the best chance of making it in this
business (out of the gates). No, I will never make as much as a big
producer at Merrill, UBS, SB, etc. But that is not what I am concerned
about right now. Right now I am concerned about finding clients and
building the business. I have quickly crossed the “I-will-make-it-in-the-
business” threshold. I don’t want to worry about compliance, doing
payroll, ordering pencils, fixing my PC, whatever. That is not a dig
against Indy’s or whatever. It is a statement that I am getting the most of
what I need at this point in my career. Will I eventually want to go Indy?
Maybe. Probably. Maybe not. I could potentially make more. I would
have more freedom. But I may also decide (which many do) that my
income is high enough and I don’t want the headache of changing firms
and building my own shop (50,000 wirehouse brokers can’t all be wrong).
But maybe I will. But right now I can’t really concern myself with that.
Spears, I know what your perspective is. You probably came from a
region with a million offices, lots of kool-aide flowing, lots of old vets
making coin, and lots of newbies getting wiped out. I am fortunate that I
am not in that situation. I would have never put myself in that situation.
Despite what we witness with some newbies (at any firm, as we have
witnessed on this forum), I have a head on my shoulders, and a
sophisticated financial background that allowed me to research the
opportunity first, know what I was getting into, and adapt where
necessary.
Finally, Spears, we are not all drones. Maybe that is what you witnessed, I
don’t know. Some of us just like a certain environment, appreciate
certain aspects of Jones, and are mature enough to get over the things we
don’t like in a job. Is it forever? Who knows. But until then I am not
going to cry victim. I’m not that weak.
Broker24, with all of your self proclaimed business genius and wits, how in the hell did you wind up a door to door salesman?
I can just hear all the gasps coming from the Merril, SB and UBS reps when you clump yourself in with them...believe me..you work at a 3rd tier firm, at most. Knock yourself out Broke, as I've said before, you will get no where in the Jones system without drinking the koolaid. Who's weak...hmmm...let me just stay here doing all the work for the man..well...because I'm to chicken sh*t to think on my own, don't have the balls to step up for my family and do this on my own! IF your a female Broke, sorry for the balls comment. You spew the propaganda...don't want to worry about compliance, order pencils, do payroll...blah blah...you dumbass. How much time do you think it takes todo any of this. Are you on the phone all the time, 10 appts per day?? Hell no, the time you spend defending your weak firm, you could have done payroll, ordered pencils(not sure why pencils) and reviewed your trade blotter. Stay...all of you drones STAY...I don't want anymore Indy's running around. THis is too good a position to have everyone doing it. STAY YOU MONKEES!!!
[quote=Edward Pwns]
Broker24, with all of your self proclaimed business genius and wits, how in the hell did you wind up a door to door salesman?
[/quote]
The same way of bunch of you guys ended up becoming cold callers. He made an educated decision to pursue a business opportunity in his back yard. You guys made a decision to work for a wire, bank, or yourself. He went in with eyes wide open.
[quote=bspears]
I can just hear all the gasps coming from the Merril, SB and UBS reps when you clump yourself in with them…believe me…you work at a 3rd tier firm, at most. Knock yourself out Broke, as I’ve said before, you will get no where in the Jones system without drinking the koolaid. Who’s weak…hmmm…let me just stay here doing all the work for the man…well…because I’m to chicken sh*t to think on my own, don’t have the balls to step up for my family and do this on my own! IF your a female Broke, sorry for the balls comment. You spew the propaganda…don’t want to worry about compliance, order pencils, do payroll…blah blah…you dumbass. How much time do you think it takes todo any of this. Are you on the phone all the time, 10 appts per day?? Hell no, the time you spend defending your weak firm, you could have done payroll, ordered pencils(not sure why pencils) and reviewed your trade blotter. Stay…all of you drones STAY…I don’t want anymore Indy’s running around. THis is too good a position to have everyone doing it. STAY YOU MONKEES!!!
[/quote]Obviously you weren’t happy at Jones. Your departure is so recent, and you’re so embroiled in the adverserial process of bringing your clients over that it is, IMHO, clouding your picture of the firm. I’m not saying it’s a “great” firm, but I’d hardly call them third tier.
Personally, I wouldn’t want to work there, but they have a unique business model that works well for some people, and has done so for years. You didn’t learn anything there did you? No, I’m sure the training program was useless and you already had all the tools you needed when you joined up.
I’m not saying you’ll ever be a fan of the firm, just that time will give you some perspective as the bitterness fades. Move on. You’re free.
[quote=bspears]
I can just hear all the gasps coming from the Merril,
SB and UBS reps when you clump yourself in with them…believe me…you
work at a 3rd tier firm, at most. Knock yourself out Broke, as I’ve said
before, you will get no where in the Jones system without drinking the
koolaid. Who’s weak…hmmm…let me just stay here doing all the work
for the man…well…because I’m to chicken sh*t to think on my own, don’t
have the balls to step up for my family and do this on my own! IF your a
female Broke, sorry for the balls comment. You spew the
propaganda…don’t want to worry about compliance, order pencils, do
payroll…blah blah…you dumbass. How much time do you think it takes
todo any of this. Are you on the phone all the time, 10 appts per day??
Hell no, the time you spend defending your weak firm, you could have
done payroll, ordered pencils(not sure why pencils) and reviewed your
trade blotter. Stay…all of you drones STAY…I don’t want anymore Indy’s
running around. THis is too good a position to have everyone doing it.
STAY YOU MONKEES!!!
Actually, my statement was that I would NOT make as much as if I were at
one of those firms. I don’t think that clumps me in with them. The point
I was making was that all wirehouse and regional brokers work for their
firms as employees as well (and that they can’t all be wrong for doing
that). Your argument is that if you work for someone else, you are
somehow a 2nd class citizen. Now, plenty of other arguments people
make on this forum are valid for some people. But ridiculing Jones
advisors simply because they are employees of the firm instead of owning
their own firm is just an illogical argument. Being independant is not the
only respectable channel in the industry. Though you won’t admit it, you
know that there are plenty of people at Jones that are very smart, and do
a very, very good job for their clients.
Spears, I have honestly never witnessed someone with as much anger as
you. I hope you present yourself to clients better than you do with the
written word. You strike me as being very, very young. I can’t imagine
anyone over the age of 30 even thinking like you.
[quote=Edward Pwns]
Broker24, with all of your self proclaimed
business genius and wits, how in the hell did you wind up a door to door
salesman?
[/quote]
I’m actually a Jehovah’s witness in disguise.