NOW I see why everybody hates Jones

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Mar 6, 2007 7:23 pm

I, personally, don't hate Jones. I just am finding working for them to be miserable thus far. Top 3 things that suck thus far:


1.) Their technology is absolutely terrible. Horrible. There is no excuse whatsoever. The best my "field trainer" could come up with is that Jones never tries any thing first and they let everybody else get the kinks out...like with Windows XP. It's been 20 years since their communication system came out. E-mail has been around for more than 10 years. Jones just got it. I am pretty sure 10 years is more than enough time to "get all of the kinks out."


2.) They really are a bunch of kool aid drinking/serving robot automotons. It's unbelievable. Apparently, Jones is the only (or one of the only) jobs in the entire world where you can help people and make $100,000 in 3 years. It's also the only firm in the entire world that does what's right for the client. Why would you ever want to use a fund family other than a preferred fund family? Just do whatever Jones says because they are never wrong.


3.) Complete and utter chaos if you transfer with licenses. "Inidividualized training" really means we're going to throw you in with everybody else who have already been trained on our systems (communication, time card, etc.) and we're just going to pretend you already know it. But we will make you spend a week in Tempe to learn what a stock and a bond are and how to talk to people.


Disaster. I have made quite a sacrifice to get away from the sinking ship of AMP, to get away from fee & commission based planning, & away from pushing VUL's. If being at AMP didn't make me feel like I was sacrificing my ethics, I would regret leaving.

Mar 6, 2007 9:25 pm

Chill Nole. We are not all robots. I wish you well.

Mar 7, 2007 2:28 am

Nole,


    Last time I checked, technology didn't make the broker.  If you don't like the Kool-Aid, and there is a lot of it, just don't go to the Regional meetings, they are optional.  It seems to me the difficulty transfering licenses is a one time and trivial problem.

Mar 7, 2007 5:54 pm
Nole32303:

I have made quite a sacrifice to get away from the
sinking ship of AMP, to get away from fee & commission based
planning, & away from pushing VUL's. If being at AMP didn't make me
feel like I was sacrificing my ethics, I would regret leaving.





AMP is quite impressive, I still like attending all their local
seminars. They are hopeless VUL pushers which is ultimately why AMP
isn't so sucessful. Too middle market, and people do not like buying
insurance.



As for EDJ, I do hope you did know about all the issues? As for all the
EDJ BS, I would ignore it. Make up a list of funds you like, stocks you
like, bonds/pref's you like and get working. One trick to selling bonds
is to sell short term bonds, since then they roll over in time.



One thing I found that took the stress off in the business, was
building up my own portfolio of high dividend stocks (i.e lots o'
REITs) and thus creating my own trailer plan.



If you accept the existing EDJ platform for what it is you will do just fine.