In this thread: we are positive about EDJ

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Feb 23, 2007 12:13 am

Enough negativity, let's talk about the good things at EDJ.



The nice EDJ Credit Card for example.




Feb 23, 2007 12:16 am

I'm positive that I don't want to work for Edward Jones.

Feb 23, 2007 12:43 am

List of Ed Jones positives that I can think of off the top of my head. 

They give many a job that would not get a chance by other snooty firms.


They give slow starters ample time to get it in gear.  (good for the starter of course)


Many good brokers near me helped give me tips and became good friends.


They give you an assistant as soon as you get in an office.  (very underrated)


Many times you inherit assets without having to buy them.


The diversification trips are awesome.  Even if they are taxable.


Personally I think Jones is actually a good place to start.  Just not as good for an experienced broker. 


Feb 23, 2007 1:52 am

The nice EDJ Credit Card for example.


Why does it feel like the nice wolf is guarding the hen house on this thread? Did your many brothers and sisters tease you when you were little?

Feb 23, 2007 6:19 am

List of Ed Jones positives that I can think of off the top of my head. 

They give many a job that would not get a chance by other snooty firms.      FOR A LOT OF NEW HIRES FOR EJ, THAT IS NOT A GOOD THING. 


They give slow starters ample time to get it in gear.  (good for the starter of course)  (REALLY, LIKE WHO.  NEVER SAW IT)


Many good brokers near me helped give me tips and became good friends.  (YOUR REGION MUST BE UNUSUAL, MY OLD EAST NC REGION WAS HORRIBLE ESPECIALLY MY OLD TOWN)


They give you an assistant as soon as you get in an office.  (very underrated)  (IF YOU CAN GET ONE HIRED)


Many times you inherit assets without having to buy them.  (WHOOPEE!  YOU GET TO WORK OFF OF THE SWEAT OF SOMEONE ELSE)


The diversification trips are awesome.  Even if they are taxable.  (HAVE YOU SEEN THE VALUE THEY PUT ON THOSE TRIPS THAT YOU THEN HAVE TO PAY TAXES ON - CHECK OUT THE REAL COST AT YOUR LOCAL TRAVEL AGENT)


Personally I think Jones is actually a good place to start.  Just not as good for an experienced broker.   (I WILL AGREE WITH THAT.  ONCE YOU GET SOME EXPERIENCE, EVEN A LITTLE, HIT THE ROAD, JACK)

Feb 23, 2007 7:52 am

Just for you B24 so you won't think I'm always negative about Jones:


They gave me an opportunity to live and work where I wanted to be.


I made many good friends at EDJ and they are still good friends.


The initial training and series 7 study time is very good.  They made sure that individuals are ready to take the test.


They do have a great credit card, which I still use today!!

Feb 23, 2007 10:13 am
Ilovedogs:

List of Ed Jones positives that I can think of off the top of my head. 

They give many a job that would not get a chance by other snooty firms.      FOR A LOT OF NEW HIRES FOR EJ, THAT IS NOT A GOOD THING.  -  For a small percentage you are correct.  For the majority, it works out well. 


They give slow starters ample time to get it in gear.  (good for the starter of course)  (REALLY, LIKE WHO.  NEVER SAW IT) - I can think of 5 or 6 from my region that Jones has told to get it in gear, then let them work to get there.  A couple of them are now running very profitable offices.  A couple are now at other firms doing relatively well.  One is out of the biz. 


Many good brokers near me helped give me tips and became good friends.  (YOUR REGION MUST BE UNUSUAL, MY OLD EAST NC REGION WAS HORRIBLE ESPECIALLY MY OLD TOWN) - No, your region was unusual.  Or maybe it was just you that they didn't like.  Who knows.  The vast majority of Jones FAs would spend as much time as they could afford to help a fellow Jones FA.  I know that if I really needed help right now there are 50 people in my region that would stop what they are doing and talk with me.  That's one of the best things about Jones.


They give you an assistant as soon as you get in an office.  (very underrated)  (IF YOU CAN GET ONE HIRED) - You must not have been at Jones very long.  Getting a BOA hired is easy.  Finding the right one can be difficult.  I've had three so far.  I'm still looking for the one that will stick with me long term.


Many times you inherit assets without having to buy them.  (WHOOPEE!  YOU GET TO WORK OFF OF THE SWEAT OF SOMEONE ELSE) - Yeah, because everyone in this business started from scratch.  And vets at other firms don't buy books, or inherit accounts from the new guy who failed.  Find something else to complain about.


The diversification trips are awesome.  Even if they are taxable.  (HAVE YOU SEEN THE VALUE THEY PUT ON THOSE TRIPS THAT YOU THEN HAVE TO PAY TAXES ON - CHECK OUT THE REAL COST AT YOUR LOCAL TRAVEL AGENT) - Yeah, I did.  It was close.  Especially when you factor in food, spending allowances, local guides (sometimes), and the trouble of having to take care of everything else yourself.  I'm not saying I couldn't have gone to NY in December and found a cheaper hotel and had MCD's for every meal, but for what they set up, I think it was a great deal.


Personally I think Jones is actually a good place to start.  Just not as good for an experienced broker.   (I WILL AGREE WITH THAT.  ONCE YOU GET SOME EXPERIENCE, EVEN A LITTLE, HIT THE ROAD, JACK)



Here's some more:


We have the Edward Jones Dome.


I don't have to share my assistant with anyone else.


I have my own office w/ no branch manager.


The trips are relatively easy to win (avg <$18K gross for 6 months) and they aren't competitive. 


Doug Hill is not managing partner anymore



Feb 23, 2007 11:02 am

Good stuff about Jones.


Yes, they do take complete noobs and give them training. Very good series 7 training.


They hold your hand when you are new, with lots of meetings and product suggestions.  To me it felt like handcuffs and babysitting but that's because I was already in the biz for some time.


Things I miss about Jones:


My BOA on a personal and professional level.  And the nice automated drip system of newsletters.  That's it. 


Things I don't miss:


The meetings, the trips, the computer system, the RL, the product line and inventory (lack of), the branch P&L accounting system, the expensive health insurance.....did I mention the meetings?

Feb 23, 2007 11:58 am

They are very easy to steal clients from.  That's positive for me.

Feb 23, 2007 3:11 pm

I love the color Green.


We are the best sales force in the world.


We do what's best for the customer.


I Love the color Green.


I'm leaving soon!

Feb 23, 2007 3:44 pm

Drapala,


You forgot, "We're the only firm that does what is best for the customer!"

Feb 23, 2007 11:15 pm

We are the only firm that pushes A share annuities.  We stress paying a full upfront load.  We are the BEST in the Investing Universe!


Our preferred fund families are top notch.  Who needs sector funds or style boxes.  BRICK should not be a part of our conservative portfolio.  7% returns are better that 32% returns in the long run due to volatility issues. That is what my field supervisor told me.


We only follow a couple handful of stocks...buy and hold. Less for the us or the clients to worry about.  Puts???? what is that?


Our muni bond inventory is very limited...makes for an easy  sale to the client due to the urgency! " we only have $220K of tax free inventory...If you have the money available, I strongly recommend you buy some NOW!!"


Who needs options...not me, nor my clients.  Too hard to understand.


Liquidation on non qualified ACATS creates a huge tax burden for the clients..but nice commissions for the broker.


We can locate our offices next to the chinese buffet and the dollar tree, where we can buy client appreciation gifts. (Like Incredble Hulk does)


Our regional meetings are the BEST.  When the RL comes out as a superhero, we know what it is all about.


Diversification trips are nice (even though we get taxed twice the actual value)


Our peers are of the highest standards...who could be better than EDJ??????? Tell me!

Feb 24, 2007 2:14 am

It's funny to see the credit card as a positive.  I have told all of the clients that transfered their account to me at my new firm to keep that credit card. 


The other positive I see is that by door knocking and building my clients organically is they all (92%) came with me to my new firm.

Feb 25, 2007 7:20 am
Broker7:

Our muni bond inventory is very limited...makes for
an easy  sale to the client due to the urgency! " we only have
$220K of tax free inventory...If you have the money available, I
strongly recommend you buy some NOW!!"





OMG!, when I was just starting out in the business I used that exact line on several clients.



Not something I'm very proud of, but they did indeed buy the bonds before they were all gone.

Feb 25, 2007 9:03 pm

Broker 7,


   You are going to blow up your clients eventually, better be careful.  My last two Jones trips ran 4k each.  Doesn't seem out of line from what a travel agency would have charged for the same trip.

Feb 25, 2007 9:54 pm

Rank,


Why is he going to blow up his clients???  Because he isn't drinking all the kool-aid???


Loser.

Feb 26, 2007 10:00 am

I miss the crack they feed you at the meetings.  How many times do I have to listen to the Protective rep give his/her same spiel???  I've only been away a couple of weeks, but I get goosebumps in the mornings knowing I'm building a business I own!  It trumps any trip, any meeting, any faux wood award at some Summer suck fest!!!  Let's see, the BRIC fund, senior floating rate fund from Hartford...dodge and cox funds...No koolaid drinking puke is going to out work someone building their OWN business...none!!  I remember fondly working hard to win the trimester awards and then when I had to pay taxes on the freakin turkey I won...I quit trying to win the scumbag awards.  Work hard, make us more money..win a turkey, and then pay taxes on it!! YAHOOOOOOO!  EDJ SUCKS!!!!!  AMWAY OF THE SECURITIES INDUSTRY!!!!

Feb 26, 2007 1:25 pm
Broker7:

We are the only firm that pushes A share annuities.  We stress paying a full upfront load.  We are the BEST in the Investing Universe! - Yeah, because A share funds don't make sense for the clients either.  Forget breakpoints and no surrender period.  That stuff doesn't matter.


Our preferred fund families are top notch.  Who needs sector funds or style boxes.  BRICK should not be a part of our conservative portfolio.  7% returns are better that 32% returns in the long run due to volatility issues. That is what my field supervisor told me. 


Are you seriously quoting the BRIC (what country is the K?) fund's performance record and calling it long term?  It was incepted in June of last year!  If the portfolio truly is conservative, BRIC doesn't belong. 


I seriously doubt that you had a conversation with your FSD about performance.  They really don't care about performance.  Otherwise, they would have flagged every Federated fund I sold.  What they probably told  you was that the addition of that fund was outside the established goals of the account.  If you had checked off the aggressive growth box when you opened the account (or when you placed the trade) you wouldn't have had any problems.  My guess is that either you didn't or you put such a large amount of money into it that it was inappropriate for the portfolio.  It really takes quite a bit to get a personal call from an FSD.       


BTW, you complain about A share annuities, but buy a fund for clients with a 2.15% expense ratio?  You do know that you could have bought an ETF for your clients don't you. 


We only follow a couple handful of stocks...buy and hold. Less for the us or the clients to worry about.  Puts???? what is that?


Our muni bond inventory is very limited...makes for an easy  sale to the client due to the urgency! " we only have $220K of tax free inventory...If you have the money available, I strongly recommend you buy some NOW!!"


Who needs options...not me, nor my clients.  Too hard to understand.


Liquidation on non qualified ACATS creates a huge tax burden for the clients..but nice commissions for the broker. - Guess what.  They do that at other firms too.  Have you figured out a way around having to sell a poor performing investment to replace it with a better one and not pay taxes on the cap gain?  Even exchanging funds causes the Cap Gain.   Let me know the answer to that one.


We can locate our offices next to the chinese buffet and the dollar tree, where we can buy client appreciation gifts. (Like Incredble Hulk does) - An unwarranted slam again the Hulk?  What's up with that?


Our regional meetings are the BEST.  When the RL comes out as a superhero, we know what it is all about. - I don't remember that the RL is the focus of the meeting.  He's the guy who speaks most often, but not normally the one everything is focused on.  But your old region could have been different than mine. 


Diversification trips are nice (even though we get taxed twice the actual value) - I'm going to guess that, if in fact you did actually win a trip, that you didn't take the time to research how much the same trip would have cost you had you planned it on your own.  The trip I took to NY in December would have been really expensive whichever way I booked it.   


Our peers are of the highest standards...who could be better than EDJ??????? Tell me! - That's up for debate daily on this site.  I don't think there's anyone with higher standards than Jones, but I'm sure there are some that would disagree with me.



Great, another member of the "I hate Jones" club with an axe to grind.  I'm amazed that you people are drawn to this site like moths to a flame.   

Feb 26, 2007 1:45 pm

Hey Spaceman., the difference between  a succesful career at Jones or Merrill is just an extra trip downtown, most people just don't want to be honest about it. This thread looks like catfish bait from the start.

Feb 26, 2007 3:19 pm

You could be right, I did think about that.  Another recreation of someone stirring it up again.  Far be it from me to deny someone the pleasure of seeing who they can get riled up.