Annual Brokerage Report Card
37 RepliesJump to last post
I couldn’t help but notice that the RR award recognizing Jones for ethics. Check out the gall of GP’s thread. What a farce.
For the life of me, I can’t understand how John Deere Power runs these surveys and posts the results with a straight face. All these results indicate is a normal level of satisfaction with increased independence. Choose three firms…one that forces proprietary products and treats employees like indentured servants, Edward Jones, and a random independent firm (like mine or joedabrkr & associates). The results will very likely show that the more freedom there is, the more satisfaction there is.
Edward Jones continues to win these surveys because their business model is closer to independence than the other firms surveyed. Period. That model is still a long way from the level of satisfaction I get as a true independent.[quote=Indyone]
Edward Jones continues to win these surveys because their business model is closer to independence than the other firms surveyed. Period. That model is still a long way from the level of satisfaction I get as a true independent.[/quote]I agree and disagree.
I agree that EDJ's outward APPEARANCE with little offfices on the local corner has a more independent look & feel than most firms.
I disagree that their actual model is closer to independence. On the contrary, they have far more limits on what the may or may not offer clients than just about any firm I can think of.
I understand your point with regards to this survey and think it's a valid one, mainly because the EDJ'ers themselves seem to believe they are almost independent because they work alone in their small corner offices.
But in reality they are nowhere near independence.
Edward Jones win these surveys because they do a better job of doing what it takes to win these surveys. The surveys are not all crooked and they are not all perfect either.
It is marketing and Edward Jones is pretty good at winning awards. Not sure if it has anything to do with their business model but they do a great job of convincing the world that their FAs are local business people who work at the community level. We all need to remember that "perception is reality" to most people.I love Jones and all… But seriously… I do wonder who they interview for these reports. I don’t personally know anyone that they have called and asked these questions to. I know that I would agree with most of the scores but I do wonder.
I also know that may people on this forum are for a lack of a better term "Jones hatters" but in all it is a great firm. Everyone knows that- because at one point many of you worked here. Jones still has a LONG way to go to get respect in the Financial Service industry but at the end of the day- I don't care. I like working here. It fits my personality and I don't have a book of business to be moved yet so.. Here I am and I am HAPPY! Now Merry Fucking Christmas and Joy to ALL! Miss JWorking here = W-2 and you are right–you need a book of business to go somewhere else.
Indy = Ownership, the place you go with a book of business. Have a great day boys and girls!Miss Jones: YOU GO GIRL!!!
I have never been interviewed either but I wouldn't hurt the rackings if I were. If JD Powers does let the home office hand pick the people they call why wouldn't the other companies hand pick their's too?Miss Jones,
I also work at EDJ (I am sure by saying this someone is now going to call me an idiot) and it meets my needs too. Not sure why so many people hate EDJ in this forum but there seems to be a group of us that still want to be better FAs and this forum has been very helpful to me in the past. Happy Holidays to you and fellow forum members, Advisor (I am not Brian) ManMiss Jones, when you said that Edward Jones has a long way to go to be recognized by the financial industry, I think the people on this forum continue to prove we are already there or they wouldn’t waste so much of their time trying to convince others that we are no good.
I think Advisorman said it best: “perception equals reality” at EDJ. I was there almost 6 years and have been Indy for 3 and when I was there the blinders were on and it was easy to be brainwashed into thinking every other firm was bad. I finally took off the blinders and started researching and talking with others who had gone Indy and finally jumped ship. In my entire tenure there I never got a phone call from JD Power. And I never new anyone in my region that got a call. Hmmm… I did hear somewhere that they call home office associates as part of the poll. Oh well… I really don’t care anymore…
[quote=advisorman]Edward Jones win these surveys because they do a better job of doing what it takes to win these surveys. The surveys are not all crooked and they are not all perfect either.
It is marketing and Edward Jones is pretty good at winning awards. Not sure if it has anything to do with their business model but they do a great job of convincing the world that their FAs are local business people who work at the community level. We all need to remember that "perception is reality" to most people.[/quote] That's correct, you go girlfriend! You and Jim Jones crowd make for a great team!!!I can’t believe that no one has looked at the vital information.
Jones has ave rev per advisor of a whopping $291,229 and the next closest is AG Edwards at $492,000 only to be followed by Wachovia at $702,000. I don't count Edwards since they will be Wachovia, that means Jones is less than 50% revenues of their next closest competitor. Maybe I am crazy but if you do count AG, doesn't anyone find it funny that the two with the lowest revenues are the happiest with their firms. I guess it is right what they say, money only complicates matters, keep em poor and they will be happy, or you can give a beer truck driver a fish and he can eat for a day but teach him to sell a 35 yr muni and he will go broke before lunch.Oh yah..don't forget the trips and bonuses...that would add another 2-3k to the 291k. You need to report all the facts...don't ever slight the Jonesers. Don't forget the turkeys either, another 20 bucks..a penny here a penny there..it all adds up.
[quote=MISS JONES]I love Jones and all… But seriously… I do wonder who they interview for these reports. I don’t personally know anyone that they have called and asked these questions to. I know that I would agree with most of the scores but I do wonder.
I also know that may people on this forum are for a lack of a better term "Jones hatters" but in all it is a great firm. Everyone knows that- because at one point many of you worked here. Jones still has a LONG way to go to get respect in the Financial Service industry but at the end of the day- I don't care. I like working here. It fits my personality and I don't have a book of business to be moved yet so.. Here I am and I am HAPPY! Now Merry Fucking Christmas and Joy to ALL! Miss J[/quote] It's simple. JDPower only calls subscribers of RRep magazine. I bet many people that read or use RRep only use it online, and do not subscribe. I am willing to bet that every RL and long-time veteran has a subscription, whether they ordered it themselves or not. As someone else pointed out, Jones is very good at winning awards. However, many Fortune 500 companies do the same thing for these type of awards - they lobby, they send in proposals, they do the applications, all teh things you need to do to win. I previously worked for a world-class hotel company at one time, and they did the same thing in order to win the awards. It's not a conspiracy, just good business practice.