Jones Stories... for the JONES
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If by securities training, you mean a golf ball and a script, then yes that is correct.
I don't believe i'm saying this...but Moraen is spot on! This guy is full of it! Technically, it may be possible, but do you think someone that motivated is going to timeblock time in the middle of the day to post it here?? Doubtful![quote=wind3574] I don’t believe you have to be handed an office to be successful. It depends on your drive. I am only 2 months out and I have grossed about $20,000 so far and have roughly $2M in assets. I just now got into a legacy office from my house. I just think new FA’s that don’t make it are either lazy or listening to too much negativity that “Its hard”. It is very mentally struggling, but even in this market i am bringing in no less than a client a week with over $200,000. I think people just need to re-focus and no worry about so much negativity. Things happen, the market sucks…get over it and be successful. Bottom line, if you want it you will do the work.[/quote]
Also, let’s take a look at this - “I’ve grossed $20,000 so far and have roughly $2M in assets.” Think about that for a second. Also, $200k a week for two months is $1.6M. Also, on $2M, that is 1%. But if it’s a client a week, that would be eight clients, and at 200k would be the 100k breakpoint, which would make it $40,000 gross.
Of course… there’s no way he used mutual funds b/c of all of that sophisticated securities training they get at Jones.
HKA - I think I might actually be wrong - if he used AF - he would be at $50k gross! I think. What is the dealer concession these days?
100k breakpoint is 3.5% or 2.75 gross to the FA....next breakpoint doesn't come till 250kHKA - I think I might actually be wrong - if he used AF - he would be at $50k gross! I think. What is the dealer concession these days?
$200k X 5 = $2,000,000 11,000 X 5 = 55,000 gross to FAHKA - I think I might actually be wrong - if he used AF - he would be at $50k gross! I think. What is the dealer concession these days?
Could be bringing over assets in kind. Or becoming agent of record on annuties. … I don’t know if he’s telling the truth or not. But if it’s a lie, it’s a small one, with no benefit to him.
Actually, he’s probably telling the truth. I have seen stranger things happen. But what probably happened is he hit one account for a million-eight, and brought in the other 200K through other means. So the knucklehead extrapolates this out and thinks he’s gonna do this every month of his career.
I have a buddy that just hit on a $9mm account (not all investible, but still), and he’s only 14 months out. His client was moved from firm to firm by his broker “team”, and finally gave up. My friend got this off a doorknock (took about a year). The client is an un-sophisticated business owner that inherited a lot of land and real estate from family. He will probably never have something like that fall in his lap again.
So like I said, luck plays a part in all this stuff.
[quote=wind3574]
I don't follow the Jones script. I found that difficult in the beginning, so I just kind of made it my own and it has been really successful for me.[/quote]
What are you doing ... saying .... ?
I have a new guy in my office, who needs to get going... mind running me through your conversation..I am a former Jones guy..
So you doorknock them and get permission to call first?? Call them in 3-5 days offering Portfolio review? they say they love their advisor.. You stop out 2-3 day later because you have appt in area(yeah right) and give them a gift, and they let you review their investments, talk about fees, bad investments, allocations... then they ask you what you would reco.. Are you giving the reco right there? or do you invite them to your office?#1 Permission is a joke. I can’t tell you how many people told me to go away, but the second I called them they were excited to hear from me. Same happens with people who gave me permission, but hung up on me. Permission is a joke and an excuse to not call them. Ex: The $1M account I received last week is a perfect example. He told me not to call him again and hung up on me. I stopped by and gave him a cup anyway with a deck of cards, 3 days later I’m working on a $1M transfer.
So without implicating yourself, are you ignoring the DNC, or just focusing on people who are not on the DNC, because without permission to call, how are you calling these people??Sounds like great ideas… and those numbers you are putting up are pretty good anywhere…
i found that most people give you their number–you just cannot ask directly! I ask What was Your Name again? and then immediately say And your number is …as I jot down their name.
almost always they give me the numberwithout thinking IF WE HAD A LITTLE chat first. If they give me a number I USE ITI don’t want to hate but wind3574 you’re blowing more smoke than Michael Phelps. I’m not talking about the numbers, I’m talking about the ease with which he is gathering permission to review accounts and transfer them. Who else is experiencing this? What is he showing them in this current environment that is so much better than what they currently have that they can’t wait to move their money to him? I’m not buying this!
I agree with jkl on his success rate being questionable. But, what salesman worth his salt can’t point out at least one mistake with anyones portfolio today? Hindsight is a beautiful thing when looking at the competition’s investment strategy.