Edward Jones worth it?
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You guys are funny, it was nothing sexually inappropriate.
It had to do with documents.
I would have guessed signing a client’s name, but he claimed “boredom,” so that doesn’t make sense. Also, the well of good GIFs has run dry for me…temporarily.
You were close, I will tell…I had to wait after-work for someone one day. As I was waiting I took an extra signed form(I don’t remember which one) and made a copy of it. I cut off the signature and pasted it on a blank document and made a copy of that one. I wanted to see how real it would look. It was an extra form that I had a client sign, but was not needed. So I threw away the forged copy, but left the form with the client signature cutoff on my desk. Just so happen the next day my compliance officer came by my office while I was on an appointment and saw it. The next day I was fired.
Just plain stupidity on my part. I would have rather been fired for not meeting expectations, But oh well.
While on this subject, once (at a previous employer) we received an Advisory contract from a FA that was fully completed (client signature and everything). Unfortunately, the FA practiced the client’s signature on the back of the contract!
Doh! Client forgery is surprisingly common - and most of the time it is because the client wants the FA to sign for them.Cost. Roommates cut the cost of the hotel bill in half. It suprises me that they still have roommates these days. Here's why: Many years ago I was observing a KYC class. There was this one really strange dude that just got stranger all week long. Wore the same clothes, hair was a mess, didn't shave, acted nervous all the time. His roommate was another guy in the same classroom. On Thursday the weird guy was gone. Never showed up in class and his roommate spent hours talking with the team leader and the HR lady who gets involved with really ugly situations. Judy something if I remember correctly. Come to find out the weird dude jumped into the bed with his roommate in the middle of the night and propositioned him. Like I said, I'm suprised that they still have roommates at all. I would think there would be a ton of liability.
Quick question, why does EDJ make you have a roomate anyways? I was very surprised by that. Been on business trips/training before and never had a roomate.
I worked at a major F500 company at one time in corporate finance. When we used to go on Regional business trips, we shared rooms. We could choose them, but we shared them, nonetheless. Incidentally, in both cases (Jones and the palce I used to work), you can pay 1/2 the room rate to get your own room if you want.
So even though I never used the document because all of the paperwork was already turned in, it was the action not the intent that got me fired.
Yes, but they should have explained that to you. You should feel lucky (I guess) that it wasn’t put on your U4.
So you went from Smith Barney to BAI to Jones to kiddie...whatever....in how many years?Nobody in there right minds would hire me. With BAI I was fired because of something really stupid on my part. I appealed the decision so it never showed up on my U4 but I was still fired. I was told that “we are not going to move forward” from my ATL with EDJ. I just wanted to make it clear that I did not quit. When I moved my book over to BAI from Smith Barney I got the infamous letter saying I owed $$$ for leaving.
I am no longer in the business. I own a kids gym now.
My question is: What broker/Advisor sits around when they are bored making forged copies of paperwork in thier spare time?..Sounds to me like there was some intent there, otherwise the action wouldn’t be necesssary.
Trust me, I have no reason to lie. The only people that know this story up until this point is my wife and my ex-boss/compliance officer. This is the first time I have told anyone. I guess you can say, I am at peace with it.
I went through training with Smith Barney, and would say it was a lot harder than I expected. When the opportunity came to join BAI, I jumped at the chance. Who doesn’t like having millions of prospects with there money already with you at the bank. I spent more time with my bank partners, than I did prospecting. That is where I got most of my clients. I would have started out there but they were looking for licensed advisors. Once I was fired, I really did not think I would be able to work in the industry again. Edward Jones sent me the personality exam, and the next thing I know I am interviewing and on doorsteps getting my required 25 “surveys”. My heart was never really into though. I tried to do things my way and it did not work.
This business was MUCH harder than I could have imagined. But I have been able to apply things I learned to my own business. Writing a business plan, preparing financial documents, client satisfaction, etc. All things helped me get approval for an SBA Loan and start my own business(" little kiddie whatever").
To the Original Post, EDJ is a great place to start. But really know what you are getting into. Anyplace you go, they have ways of doing things. Do not try to do it your way. Follow instructions and be prepared for rejection. People are willing to just throw money at you, no matter who you are, and who you work for.
[quote=Otane]I would think if you door knocked a millionaire’s home they would say a polite no thank you. [/quote]
but the next time u talk, via phone, he might just buy a bond.
Jones’ model gives u a better chance to build rapport with local people and therefore offer more of your services.
Have realized that a goodnight is really someone else headaches and garbage clients. They are doing you no favor by giving you a good night. Think about it. Most goodnights make the mistake and only deal with the senior brokers clients and never build a business which means you never have “Your own clients” and now your stuck taking care of someone elses clients that he or she didn’t want. You will make enough to live but never enought to be successful (unless your the guy who gets hit by lightning and gets a 30+ million goodnight and then you will able to tell new FA what your doing to be successful and the real truth you will be only working someone elses book), few and far between get that lucky).
Hey Ron,
I agreee with you and I can't count how many people came and went at EDJ. It is a sin that they don't tell you what your really getting into till your neck deep. I can honestly say in my 8 years that I've seen probably 100 people fail and never make it to the field. I was blind and ignorant when I started and if they told me to jump over a wall I did it. I worked hard and took on a lot of credit card debt to make it. I was a successful producer when I left and I don't have any hard feeling for EDJ ( I'm thankful they got me into the business and I think I and my family but I outgrew EDJ (I didn't buy in anymore) and it wasn't right for me anymore, I agree with you that it isn't for eveyone! I just think it is funny when I was a rookie the call was EDJ is the right place for anyone. Funny how things change. I have been an indy for 15 months and I didn't post much because I knew EDJ would possibly play hard ball for the first 12 months after you leave. Here is my true story, I was a good honest broker but at regional meeting a more senior broker told me that I was too nice and honest? He also told me that I was tiger with stripes and I need to have spots. (AKA I wasn't aggressive enough and not getting enough out of my book). He told me I should go to a bank or somewhere else. I drank the "green coolaid" Hook, line and sinker. I was floored by this guy and he was close to the regional leader. It was an eye opener. I found out later that this guy is just an asshole and had it out for me and didn't like personally. I acutally reported to the regional leader and nothing happened. I think that nothing happend was bull sh*t. But, I got a call the next day from this broker with some bullsh*t line that he was trying to motivate me. Well, I increased my production the next year and had my best year ever. I acutally out produced my mentor (13 year vet, I was only in the business about 6.5 years). I want to thank the asshole that put me down because he opened my eyes about the real EDJ. They don't care about you or your family, they care about production and $$$ for the partners. I told my regional leader that I was done with all the meetings and bullsh*t and that I would speak to every recuiter that ever contacts me and guess what I had a check for 450k from a wire house on my desk very quickly ("Dr M Stanley I presume"?). I didn't want the check because then your dancing with devil. I went Independent and my client are happier, better diversifed, and I made more my first year than I had ever at EDJ. The reason I'm writing this story, is that too many people talk sh*t on this site about how EDJ is so great. I don't know if they are new and haven't worked at other firms. I agree EDJ is good for some and not for others. I just wish some of these people that write on these posts realize that if it works for you great but if it didn't work for that doesn't make you a piece of garbage that didn't work hard. I get sick of hearing that if you didn't make it, you must be lazy!!!! This a far cry from the truth. It depends on work, luck, and the people in the firm backing you (aka either drop you some clients,go to bat for you with regional leader to name two)...... So I ask lets get the facts before you bash someone!To summarize: A vet tells you that you need to be more aggressive. You get your panties in a wad over it. You tell on him to your RL (Daddy, that mean boy is picking on me). You expect the RL to...? But he doesn't. You make the jump in your mind that EDJ only cares about production and partnership money and doesn't give a rip about your family. What exactly does your family have to do with this situation? It pisses you off so much that you decide to start looking elsewhere. You pass over the check for $450K and go indy.
That's a pretty big jump from the guy telling you to be more aggressive to EDJ doesn't care about anything but production and partnership money. Are you sure you weren't just looking for a change and used that incident as the justification in your mind for officially starting to look? Jones does care about production and partnership dollars. First and foremost. It is a for profit organization. However, they do care about your family. We have had several FAs in our region who have had to be out of their offices for an extended amount of time because of a family illness or a personal situation. Jones took care of them every single time. Not just with disability insurance, but by relaxing the standard, getting a TR in their office, etc until the affected person can get back to work. Ask anyone at Jones who has received the adoption reimbursement if Jones only cares about production and partnership. Jones isn't for everyone. I agree with you. Some people come to Jones and stay for a few months while others never leave. To each his own. But seriously, if you actually fail at Jones it's not because you didn't get enough assets handed to you or the RL doesn't like you. It's because you didn't do enough of the right kind of work to keep your job.[quote=Fooled No More]
Here is my true story, I was a good honest broker but at regional meeting a more senior broker told me that I was too nice and honest? He also told me that I was tiger with stripes and I need to have spots. (AKA I wasn't aggressive enough and not getting enough out of my book). He told me I should go to a bank or somewhere else. I drank the "green coolaid" Hook, line and sinker. I was floored by this guy and he was close to the regional leader. It was an eye opener. I found out later that this guy is just an asshole and had it out for me and didn't like personally. I acutally reported to the regional leader and nothing happened. I think that nothing happend was bull sh*t. But, I got a call the next day from this broker with some bullsh*t line that he was trying to motivate me. Well, I increased my production the next year and had my best year ever. I acutally out produced my mentor (13 year vet, I was only in the business about 6.5 years). I want to thank the asshole that put me down because he opened my eyes about the real EDJ. They don't care about you or your family, they care about production and $$$ for the partners. I told my regional leader that I was done with all the meetings and bullsh*t and that I would speak to every recuiter that ever contacts me and guess what I had a check for 450k from a wire house on my desk very quickly ("Dr M Stanley I presume"?). I didn't want the check because then your dancing with devil. I went Independent and my client are happier, better diversifed, and I made more my first year than I had ever at EDJ. The reason I'm writing this story, is that too many people talk sh*t on this site about how EDJ is so great. I don't know if they are new and haven't worked at other firms. I agree EDJ is good for some and not for others. I just wish some of these people that write on these posts realize that if it works for you great but if it didn't work for that doesn't make you a piece of garbage that didn't work hard. I get sick of hearing that if you didn't make it, you must be lazy!!!! This a far cry from the truth. It depends on work, luck, and the people in the firm backing you (aka either drop you some clients,go to bat for you with regional leader to name two)...... So I ask lets get the facts before you bash someone![/quote] Dude, you and I read TOTALLY different Forums.All of the anit- Independent, pro Edward Jones talk is getting tiresome for me too Fooled No More. I mean, what the hell, even the guys who left Jones can’t stop talking about how great it is.
If it was so great, why did they leave?
Seriously though, what forum are you reading, Fortune magazine?
I wouldn’t say there’s a lot of anit-independant talk. Just a lot of Jones bashing, to which I typically respond in a pro-Jones fashion. Kind of like the old Hannity & Colmes show. I would challenge you to find anyone who is seriously saying that being indy is bad.
everything posted on here is like a circle of topics.
on another note, i had a fresh new Edward Jones rep at my door last night. “going to be opening up my doors right at the corner of __ & ___.” oh great! good for you!
[quote=Spaceman Spiff]I wouldn’t say there’s a lot of anit-independant talk. Just a lot of Jones bashing, to which I typically respond in a pro-Jones fashion. Kind of like the old Hannity & Colmes show. I would challenge you to find anyone who is seriously saying that being indy is bad. [/quote]
Forgot my emoticon. Or my sarcasm. I hope you didn’t think I was serious. I’m surprised anybody from Jones willingly admits it anymore, the way people (especially new guys) start blasting Jones.