Communication fees

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Dec 11, 2007 12:11 pm

Hi, new to this forum. I was just wondering if the employees at the Edward Jones offices still pay that communication fee of $1200 that showed up on the P&L statement every month. Or have they gone to the internet to do business?

Dec 11, 2007 12:50 pm
outofjail:

Hi, new to this forum. I was just wondering if the employees at the Edward Jones offices still pay that communication fee of $1200 that showed up on the P&L statement every month. Or have they gone to the internet to do business?

 
What?? We still have the charge on the P&L statement. The confusing part is.. The last statement  "Or have they gone to the internet to do business".
 
By the way- Welcome to RREPS! Are you in the business?
 
Miss J
Dec 11, 2007 1:20 pm

I have a charge of $1,000,000 per month on my P&L, it went up because I now have a T1 instead of satellite.  It's still very reasonable because the GPs made the internet company invent the technology that allows me to share the connection with two other offices a few miles away.  I get to used it from 8am-10am and from 4pm-5pm, and then after 7 pm if I make arrangements with the other guys.

Dec 11, 2007 1:23 pm

its been a while since I was am employee there and I forgot the(P&L) came every 3 months. I just could not understand what the fee was for. I pay $100 a month for broad band and cable in my office now. I just thought that maybe the employees could make more money by lowering the fees by using the internet instead of that satelite system.

Dec 11, 2007 1:25 pm

Maxstud

why dont they just use email like the rest of the industry? Also why thr time restraints?
Dec 11, 2007 1:54 pm
outofjail:

I pay $100 a month for broad band and cable in my office now.



WOW!?!?!?!!? How many guys do you have to share with to get that price!!!????  I share with 2 other guys so it brings my charge down from $3,000,000/ month to $1,000,000/month, I know it's the lowest price out there because the general partner in charge of "Getting the lowest price out there"  negotiated the deal.  I spoke with him personally and he assured me he did his darndest.

Dec 11, 2007 2:02 pm

This is what it says on JonesLink



 
Cost of the communication system and related equipment. The allocation is $1,325 per month for the Client/Server satellite system, $100 per month charge for each additional workstation after the two provided as standard, $180 per month for additional laser printer, and charges for color consumables.
 
Who knows.. Who cares! My rent is one of my biggest expenses. 3500.00 a month not including trash, utilities or water..
 
Miss J
Dec 11, 2007 2:04 pm
outofjail:

Maxstud

why dont they just use email like the rest of the industry? Also why thr time restraints?



Of course we have email, I don't personally used it because the "email postage" is $0.82 vs. $0.41 for regular mail.  I called the General Partner in charge of "Email postage and other fees we charge to line our pockets because all 380 of us GPs are the devil incarnate" ,I kind of  thought this department title was a little ominous but I called anyway.  He explained to me that AL Gore(he invented the internet) gets paid for every email sent and all I would need to do would be to send a personal check in for my monthly usage and he would take care of getting Al the money.  He went on to encourage me to send out has many emails has possible, since it would make me  more successful and he truly is only concerned about my personal success above all else.  He even went on to say that if I ever left the company he would follow up with me weekly to make sure I was being successful for the rest of my life.      WHAT A GUY!!!!  I haven't decided whether to spend the extra money yet but I will sure let you know how it goes.

I have time constraints on my T1 because I share the connection with two other Jones offices a few miles from me.  The internet company said it couldn't be done but then a couple of General Partners showed them how to invent the technology to reduce my cost.
My wife even sent them a thank you note for making our lives better.

I'm sure glad you found this forum, you have some great questions I have never heard before.     WELCOME.   I'm so glad I could help.

Dec 11, 2007 4:08 pm

Damn, I thought I was good.  Maxstud, I know I called you a he/she, but I recant that statement, your just to damn funny to be a he/she.

Dec 11, 2007 8:02 pm
bspears:

Damn, I thought I was good.  Maxstud, I know I called you a he/she, but I recant that statement, your just to damn funny to be a he/she.


You do know that I'm making fun of you and your buddies, right?

Dec 11, 2007 9:49 pm
MISS JONES:

This is what it says on JonesLink



 
Cost of the communication system and related equipment. The allocation is $1,325 per month for the Client/Server satellite system, $100 per month charge for each additional workstation after the two provided as standard, $180 per month for additional laser printer, and charges for color consumables.
 
Who knows.. Who cares! My rent is one of my biggest expenses. 3500.00 a month not including trash, utilities or water..
 
Miss J
At 3500 a month , it is going to take a LOT of revenue or retirement fees for you to even see profitability. Good luck.....
Dec 11, 2007 11:32 pm

And a second first time poster on this thread!

Miss Jones at $3,500 a month for rent, you need at least $40K gross a month for location gain. $3,500 tells me you are in an expensive urban market, which means $15-$17/hr for your BOA. If I were you, I'd change my screen name and firm affiliation quickly cause your profitability bonus checks will never amount to much.

And for those in the cost-free Nirvana of independence: how much do you pay monthly for your S&P, your Morningstar Advisor Workstation, your "technology fee"? I have $30, $100, and $25 respectively.  Any major differences or software suites you use and pay for?

Dec 12, 2007 8:48 am
MISS JONES:

This is what it says on JonesLink







Cost of the communication system and related equipment. The allocation is $1,325 per month for the Client/Server satellite system, $100 per month charge for each additional workstation after the two provided as standard, $180 per month for additional laser printer, and charges for color consumables.



Who knows.. Who cares! My rent is one of my biggest expenses. 3500.00 a month not including trash, utilities or water..



Miss J





MJ, you in downtown LA? I have a brand new 1500 sf class-A office near the water and I pay like $1500/mo. including water, heat, etc.   And I am in a very expensive area. Is that market rate for you?

Dec 12, 2007 9:35 am
Broker24:


MJ, you in downtown LA? I have a brand new 1500 sf class-A office near the water and I pay like $1500/mo. including water, heat, etc.   And I am in a very expensive area. Is that market rate for you?



You're saying you're only paying $12 sq. ft. gross, including utilities, for Class A space in a very expensive area of LA?  That price sounds beyond belief. 

Is this a short term price discount on a longer lease with higher rates?

Dec 12, 2007 10:24 am
avise:

And a second first time poster on this thread!

Miss Jones at $3,500 a month for rent, you need at least $40K gross a month for location gain. $3,500 tells me you are in an expensive urban market, which means $15-$17/hr for your BOA. If I were you, I'd change my screen name and firm affiliation quickly cause your profitability bonus checks will never amount to much.

And for those in the cost-free Nirvana of independence: how much do you pay monthly for your S&P, your Morningstar Advisor Workstation, your "technology fee"? I have $30, $100, and $25 respectively.  Any major differences or software suites you use and pay for?

 
You are correct on many of this points. I have months were I am profitable but in many cases it is not worth much other than an at a girl from the region.. Yes, my BOA makes between the numbers you mentioned and again yes.. The market rent is the same as mine!
 
Thanks for providing me with information I am already aware of!
 
Miss J
Dec 12, 2007 10:35 am

It's never a fair comparison when talking real estate.  My rent, including utilities, for a 1500 sq foot office in STL Metro is only $2000.  A friend of mine has an office bigger than mine in Mississippi and his rent w/utilities is only $1500.  Real estate doesn't change because of the firm you work for.  Miss Jones, I'll bet you'll be happy enough if you can hit $40K every month.  I'd work towards that and let the real estate work itself out.

Dec 12, 2007 10:51 am

I have NO COMPLAINTS! I love working at Jones! I feel lucky to have my job, BOA, regional leader, mentor and great colleagues. I am pretty happy in life and that transfers over into my professional life. No complaints here.

 
Miss J
Dec 12, 2007 11:20 am

Let see 40k * .90= 36k.  Wow..just checking my math, wanted to make sure I was profitable at that point....yep I'm profitable.

Dec 12, 2007 12:35 pm

I share a office with another LPL Advisor and a assistant--this is a brand new office (We are the first to use it) with conference room, restroom, lobby, offices for each and we pay a total of $835 a month and we split that.  We don't worry about the P & L and bonus time--we keep it all!  I pay for services I need and a GP isn't one of my choices!

Dec 12, 2007 1:34 pm

Your just too damn greedy...pass the love...give to a GP...My new slogan this Christmas....why buy gifts for your loved ones when you can send money to a GP...GIVE TO GP THIS CHRISTMAS