Berk's Board Awards
89 RepliesJump to last post
Well if EJ isn’t letting you become involved in your office process you aren’t a hot shot like you speak. Hell, even an “average” producer like myself was able to make my own office decisions.
Also Wind, if you are this consistent, this good, this early you are a complete idiot if you don’t leave EJ right now. You don’t have an office so they will not come after you. You are putting up 15k a month go INDY right now. EJ has already given you all you need. Go rent a corner office somewhere for nothing and go to LPL and take home 90%. What is EJ giving you for the 10k they take each month ?
This is pointless. Explaining what you mean to this guy is a total waste of time, he will just respond with something about how he doesn't care what anyone thinks or how you are sitting at your desk eating Cheetos or how you're a "retard" or something else totally unrelated to what you say. [quote=wind3574]Tues....[/quote] Incidentally, this is the funniest thing you have posted yet.Also Wind, if you are this consistent, this good, this early you are a complete idiot if you don’t leave EJ right now. You don’t have an office so they will not come after you. You are putting up 15k a month go INDY right now. EJ has already given you all you need. Go rent a corner office somewhere for nothing and go to LPL and take home 90%. What is EJ giving you for the 10k they take each month ?
Loyalty?? You've been there since Christmas! You don't even have your own office yet. How would going somewhere else be detrimental to the client? American funds can pretty much be ACAT'd anywhere.Ron there are alot of reasons why I don’t even care to leave Jones. Loyalty, Respect, and Honesty to Jones as well as to my Clients. I’m not jumping from ship to ship for a higher paycheck. I’ve already made more money than I ever did before and I’m happy with that. Once my office opens and I start becoming profitable with the office, I am sure all the bonuses, profit sharing, Partnership…make up for some of that pay that jones gets…but that takes a little bit of hard work and one of the things i notice about people in here and in this business is that alot of people want to make the most money the fastest and easiest way possible and if that means jumping firm to firm or indy to firm or whatever, then they do it…but that wouldnt be whats best for my clients…or really myself at that matter…and by the way…it’s more like 23K this month:)
He is reading right out of the EJ handbook. Six months in and he has made more at EJ than ever in his life. He is exactly what EJ wants. He has confirmed the inability to produce an original thought. It just dawned on me, I am the idiot for arguing with him.
[quote=wind3574] [quote=3rdyrp2]
Loyalty?? You’ve been there since Christmas! You don’t even have your own office yet. How would going somewhere else be detrimental to the client? American funds can pretty much be ACAT’d anywhere. [/quote]
I think its pretty safe to say i’d have to have clients…and usually your loyal to them…or supposed to be
#1. I'm in a legacy, with my own office...So technically to my clients, I do have an office. and really does having an office matter? I mean, 23k this month? Obviously i'm doing enough business to anger, upset, or even hurt a few clients by moving....I dunno, maybe i'm one of the few who cares about my clients and what they think?....maybe?...
There's alot of negatives from jumping firm to firm or whatever. Transfer fees, losing cost basis, and building the reputation of not being stable. Most of my clients have come from advisors who jump ship for bonuses, or a bigger pay-out and believe me, it puts a MAJOR bad taste in their mouths.....
How do you know this? How do THEY know this? It doesn't pass the smell test as I can't imagine advisors who leave their company to take a large payout would reveal this info to their clients. And you've gotten rollovers since the start of 2009. How many of your new clients have had to get cost basis info for their taxes and gotten screwed because the old firm lost their records? All of your new clients have gotten their 1099's from the old company since the beginning of the year because thats where their money was on 12/31/08. Unless you liquidated then transferred as cash before the holidays during your first week. And...MOST of your clients, Windy, have come from advisors that left to take a bonus?? Come on, how many advisors in the Oklahoma City area have jumped ship to take swinging d!ck bonuses at big firms?[/quote]
I don’t mean to ask “Why” to everything…some of the things you say just triggers it…its just that in over 3.5 years as an advisor I’ve never had one client even bring up the term “cost basis” unless it was tax time and we either made trades the previous year, or I rolled over an account the previous year and they needed old previous year tax info from the old firm. I’ve never rolled over an account in March and had a client ask me about their cost basis in preparation for filing their taxes next year.
And the obvious question about loyalty is just that, I can't help but think that company has inserted an earwick into you...If you are bringing in 23k a month, as an indy you would take home 20k of that before expenses. Now, you bring in less than 11k. You are too early in to consider going indy with EDJ's stranglehold they put on you, but I think we'd feel better hearing the reason you wouldn't consider going indy right now being that you don't want to pay back training costs to EDJ rather than the reason you won't consider jumping ship being because you have loyalty to the company. Also, if you've acquired 20 clients this year (hypothetical, I'm not guessing you've done 20, I'm just using it as an example), you are saying that over 10 of them have come from advisors that jumped ship?? It doesn't matter a bit to me where you get your clients from, you're halfway across the country from me, but I do get compelled to call BS on someone that says something so ludicrous.Um…just FYI, “rollovers” and “cost basis” shouldn’t be put in the same sentence. Maybe rollover and amount invested. There is no cost basis for rollovers or anything else in a qualified account.
OK, resume the abuse of Wind.You're obviously not married.Believe it or not, they have revealed it to the clients. Even if they didn’t, when you have an advisor that jumps ship 5 times in 7 years, its for monetary reasons and tell me how you get that costs basis if a client has followed them for all that time?. Alot of my clients/prospects have/had the same advisor and they talk amongst themselves. I don’t liquidate the assets, thats retarded unless necessary. Just because the client doesn’t need the cost basis, doesn’t mean they don’t want it and ask about it. You sound like one of those guys who says, “Why” to everything, instead of just accepting things as fact. I mean seriously, why would you question the statement that you just bolded? Thats a given, alot of people do that…your just trying to argue…
If some of you guys were as good at prospecting and closing clients, as you were finding type-o’s, preparing comebacks, and finding dumb things to argue about you’d be rich. I mean seriously, i can’t imagine what your personal lives are like on some of you folks. You are the most negative, snarling, hateful, un-supporting bunch of a-holes i’ve ever met…Just saying…
[quote=wind3574] [quote=SometimesNowhere] [quote=wind3574]Believe it or not, they have revealed it to the clients. Even if they didn’t, when you have an advisor that jumps ship 5 times in 7 years, its for monetary reasons and tell me how you get that costs basis if a client has followed them for all that time?. Alot of my clients/prospects have/had the same advisor and they talk amongst themselves. I don’t liquidate the assets, thats retarded unless necessary. Just because the client doesn’t need the cost basis, doesn’t mean they don’t want it and ask about it. You sound like one of those guys who says, “Why” to everything, instead of just accepting things as fact. I mean seriously, why would you question the statement that you just bolded? Thats a given, alot of people do that…your just trying to argue… If some of you guys were as good at prospecting and closing clients, as you were finding type-o’s, preparing comebacks, and finding dumb things to argue about you’d be rich. I mean seriously, i can’t imagine what your personal lives are like on some of you folks. You are the most negative, snarling, hateful, un-supporting bunch of a-holes i’ve ever met…Just saying…[/quote]
You're obviously not married.[/quote]
Yes i am and have children. No excuse to be a total douche....You picked her[/quote] Imagine if you were able to net an extra 20-25% of what you closed, and were able to take your kids on a extra vacation or two each year, or could buy your wife that 3 carat diamond ring she's been asking about instead of just the 2 carat. Imagine not having to tell your wife that because you're so loyal to a firm you've been with for 6 months you can't bring home the extra 4-5k per month.
[quote=wind3574] [quote=SometimesNowhere] [quote=wind3574]Believe it or not, they have revealed it to the clients. Even if they didn’t, when you have an advisor that jumps ship 5 times in 7 years, its for monetary reasons and tell me how you get that costs basis if a client has followed them for all that time?. Alot of my clients/prospects have/had the same advisor and they talk amongst themselves. I don’t liquidate the assets, thats retarded unless necessary. Just because the client doesn’t need the cost basis, doesn’t mean they don’t want it and ask about it. You sound like one of those guys who says, “Why” to everything, instead of just accepting things as fact. I mean seriously, why would you question the statement that you just bolded? Thats a given, alot of people do that…your just trying to argue… If some of you guys were as good at prospecting and closing clients, as you were finding type-o’s, preparing comebacks, and finding dumb things to argue about you’d be rich. I mean seriously, i can’t imagine what your personal lives are like on some of you folks. You are the most negative, snarling, hateful, un-supporting bunch of a-holes i’ve ever met…Just saying…[/quote]
You're obviously not married.[/quote]
Yes i am and have children. No excuse to be a total douche....You picked her[/quote] Not everything said in response to one of your posts is an insult directed at you. That was a joke that had nothing to do with you or your family, moron <------- Just to help you out, that is an insult directed at you.
I know you probably mean well, Windy, and I don’t take offense to the name calling because at this point you don’t know any better. When I was 6 months in I would bash other advisors, even if they were 15 years in, for the sake of gathering another account because I TRULY thought I was doing the right thing. You will bash advisors that leave to take extra money and increase their style of living and cause their clients to get $40 account closing fees. You really think doing the right thing is saving your clients $40 and not burdening them with signing an extra form to move their money to another firm even if your standard of living suffers for it. You are too green at this point to know any better and I honestly think you think you’re doing the right thing, for you and your clients. I just know that in 24-36 months you are going to look back on the advisor you are now and say “Man, I was an idiot back then. I can’t believe my clients stayed with me with the crap I was putting them in!” and “I can remember, February 12th, 2010. The day I wiped the kool-aid stain off my mouth and began to understand the business aspect of this career.”