John Thomas Financial

or Register to post new content in the forum

12 RepliesJump to last post

 

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.
Jan 19, 2010 2:55 pm

I recently got a call inviting me to go interview for John Thomas Financial into there training program.  I'm looking to get my foot in the door because I just recently graduated from college and need to get sponsored for my licenses.  Would this be a good place to get started and to learn?  I have no problem about working crazy hours because I know you need that to be successful and have no problem cold calling.  I believe anywhere you go you will need to cold call to help build prospects.  Any insight would be appreciated!!< id="gwProxy" ="">< ="jsCall;" id="jsProxy" ="">

Jan 23, 2010 7:39 pm

John Thomas Financial is a boiler room full of wanna be gordon gekos.   12 hours a day of cold calling including saturdays. 

 
They will pay for your Series 7 and hire anybody who walks in the door.
Jan 23, 2010 9:49 pm
RepOne:

John Thomas Financial is a boiler room full of wanna be gordon gekos.   12 hours a day of cold calling including saturdays. 

 
They will pay for your Series 7 and hire anybody who walks in the door.



Cold calling is fine.. i would want to do that anyway if i was starting out anywhere.  I don't have many contacts of people with a substantial income just coming out of college so I would need to network somehow.   Is this a place legit?  Will it be a good stepping stone for me to get licensed, recieve a base during training, get benefits, and actually be able to learn from these guys? 
< id="gwProxy" ="">< ="jsCall;" id="jsProxy" ="">

Jan 23, 2010 11:19 pm

It's just like the movie boiler room.  It's zero % advising and 100% very aggressive, scripted phone sales.  The kids there know nothing other than a few bullet points about the stocks.

 
Is it legit?  They are legitimatley registered with the NASD but not much in terms of reputation---just search the web.
They will hire anyone with a suit and a heartbeat and pay for classes and liscening.  They pay you enough to cover 80% of your rent in NYC.
 
If you want to learn aggressive phone sales and have that personality then sure you can learn from them. 
Jan 25, 2010 10:09 am

They must be doing something right for a boiler room outfit.

Jan 25, 2010 11:17 pm

what's the aggressive script?

Jan 26, 2010 1:32 am

hi,

John Thomas Financial is a boiler room full of wanna be gordon gekos.   12 hours a day of cold calling including saturdays. 

 
They will pay for your Series 7 and hire anybody who walks in the door.


http:// simulationcreditautomobile.com


Feb 2, 2010 8:50 am

I just received that same call.

 
This place is a growing company and what is the problem with working 12 hour days when you are a nobody? The firm must be legit if the president was named man of the year by former mayor guiliani and was also seen on Fox Business this past Friday.
 
What else should us college students do? I cant even gett a job at TD Bank and I know the VP of their capital markets.
Feb 2, 2010 9:50 am

Does TD underwrite new issues?

Sep 2, 2010 2:34 pm

If you get an interview over here at JTF do not tell them you have any business ethics. We are cut-throat telemarketers making our paychecks however we can, not caring about the customers.  Tell them you are hungry to make a buck however you can.  

Sep 2, 2010 2:42 pm

Employee, I'm curious, what is your firms way of dealing with the National Do Not Call List? I'd think that would be a huge obstacle, unless you've found some way of dealing with it?

Sep 10, 2010 3:01 pm

Grinder,

I'll help you out. I worked at a shop very similar to JT Financial (John Thomas) for 2 years. I know the biz and their ways. After the last shop, I thought about going to JT to make some quick cash, but declined when I thought about the big picture. I'm not sure what your plans are down the road, but the atmosphere inside a high-pressure/aggressive phone sales type place is making a buck without concern for a client's account. "Churn and Burn" as they like to call it. If you see yourself in Investment Banking/Sales & Trading/ or a white-toe shoe spot down the road...or EVEN an MBA--I'd be careful. If you want to jump to a large firm like MS or Merrill; the first question they ask is "Is your license clean?" They don't want anyone with arbitration filings or complaints inside their office. It looks bad to bring someone in with a beat up license. The big banks / B Schools / and professional institutions look at  your series 7 license as a reflection on  your character. If you take the job at JT to get your series 7 & 63, go for it--but be careful.

On the other hand, if you have no big plans for your future inside financial services---then go for it. If you can smile and dial and put up with ego all around you, it's a great way to make money. Just note, you might have to sign a "noncompete" which would prevent you from taking ANY of your clients if you choose to move to a bigger firm. Their new trading floor is great; over 100 brokers inside, all standing up and screaming. Very energetic room. Just leave your ethics at the door. Know what you are walking into. To survive in those business' you need thick skin, a deaf ear, an alpha male personality, and a voice. Remember: you eat what you kill so it entices you "trade your clients."