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Apr 25, 2006 11:58 pm

Here's my situation:


I have Series 7,63,9,10 and about 5 years industry experience and a pretty solid sales back ground. I have been looking @ EDJ for several years off and on. Looking to get in as a BOA and if I feel the fit is right would consider opening my own branch. Are there any BOA's out there who have done this? Am I over qualified to be applying for a BOA?  


Thanks in advance for your comments,


Dan








Apr 26, 2006 7:28 am
Danboy:

Here's my situation:


I have Series 7,63,9,10 and about 5 years industry experience and a pretty solid sales back ground. I have been looking @ EDJ for several years off and on. Looking to get in as a BOA and if I feel the fit is right would consider opening my own branch. Are there any BOA's out there who have done this? Am I over qualified to be applying for a BOA?  


Thanks in advance for your comments,


Dan



**What do you mean "Looking to get in as a BOA and if I feel the fit is right would consider opening my own branch."  BOA's can't open their own branch.  You must have had more off years reading about Jones.






Apr 26, 2006 10:02 am

Dan - former Jones BOA here, now working at Indy firm and looking to get licensed. (I think I'm the polar opposite of you)


Here's the sitch...I'd say you are WAY overqualified to be Jones BOA. I know you will become "burned out" with the day to day routine. You might end up working for a tool who think's he's/she's a "rockstah".


Also, STL does not really approve of licensed BOAs. There have been cases where it becomes nessecary for a BOA to be licensed, or an IR decides he/she is better suited for BOA position and keeps license. But Jones rule of thumb says "there is only one profit center per branch and it's the IR".


Now on to your opening your own office. (I know because we looked into it before I left) What will happen is, Jones will make you go through the interview/hiring process like any other prospective IR. I was also told that just because you have worked as BOA there is no guarantee you will get to be hired as IR. Might be kind of kick in the pants for your years of service to find out they don't think you are good enough to be one of the elite.


However, it's a nice place to work. Warm and fuzzy, touchy-feely included.

Apr 26, 2006 10:42 am

With all that edjumication yer not only overqualified to be a BOA, yer overqualified to be a broker at Eddie Jones....

Apr 26, 2006 11:36 am
Danboy:

Here's my situation:


I have Series 7,63,9,10 and about 5 years industry experience and a pretty solid sales back ground. I have been looking @ EDJ for several years off and on. Looking to get in as a BOA and if I feel the fit is right would consider opening my own branch. Are there any BOA's out there who have done this? Am I over qualified to be applying for a BOA?  


Thanks in advance for your comments,


Dan



The BOA position is not a sales position. It is an administrative, customer service  and clerical type of job.  You would be incredibly bored.  Joe is right you are over qualified for Jones as well.






Apr 26, 2006 11:57 am

Did you leave the industry for a while and decided to come back?  I'm just curious as to why you are looking to be a BOA and not move to another firm.

May 2, 2006 2:25 am

Dan,


  Don't do that.  Based on what you said in your post, you don't need to learn the ropes through the BOA role.  If you can sell, and don't mind going door to door, just go for the IR position.  You will be working out of the home for 4 to 5 months most likely.  After a year you will have a BOA probably anyways and you won't even do all the stuff you learned when you were a BOA. 


To answer you question, yes, people have done that.  But you don't need be a BOA to know if it is right for you.  Ask yourself this, and then you will know:  Do I mind knocking on doors to build my book, b/c my friend that is the only way they teach you, it is effective, depending on your market.  But you simply knock on doors, your truly your own boss.  Be careful w/ this forum.  Many will dog Jones, some comments are accurate, but most are x Jones brokers that didn't make it, or got pissed off b/c they weren't offered a partnership.  Bottom line:  It's a good firm, they have their problems as all firms do, but a great place to work if you don't mind pounding the pavement. 


With your experience the training would be a breeze for you.  Most of the training is how to doorknock, and a few presentations which are simple.  If you don't want to doorknock, stay away from Jones, seriously, cause you have to do it.

May 2, 2006 10:08 am
gew21:

 Be careful w/ this forum.  Many will dog Jones, some comments are accurate, but most are x Jones brokers that didn't make it, or got pissed off b/c they weren't offered a partnership. 



uh gew...I'd have to say it's likely if you can't make it at Jones, you can't make it anywhere in the business. If Jones can turn an "enterprise-rent-a-car" boy into a broker, there's no end to what they can do.


Your theory about ex-Jonesers just doesn't hold water for me...I know better.

May 2, 2006 10:28 am

Additionally, if you have 5 years of experience, why Jones (out of sheer curiosity)?  I've seen one rep do that since I've begun recruiting and it usually goes the other way because there are more tools in the toolbox.

May 2, 2006 10:49 pm

My assistant is licensed although that is not the norm.