Detox required after region meetings edj

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Jun 25, 2007 11:44 pm

So I talked to my buddy who is still at Jones and he was telling me how the NASD is going to model the industry after Edward Jones---Puke! 


He was telling me that they are still blowing smoke about 25,000 Financial Advisors--Mega Puke!


He also mentioned they are going to have diversification trips awards for BOA's (Branch Office Administrators)--Yeah Right!


They are working on a fee based asset allocation model that will be rolled out and will be the envy of the industry--Dangle that Carrot!!


They have figured out how to rally the troops and tell them how great they are and how much they appreciate them and then they send them a bill for the 2 night stay at the Super 8!

Jun 26, 2007 10:16 am

I don't think anyone really cares, except you, foot and spears.

Jun 26, 2007 10:24 am

and EdJehovah

Jun 26, 2007 10:54 am

Do you know of anyone who has been successful at another firm who has moved to Ed Jones?

Jun 26, 2007 10:57 am
Beagle:

Do you know of anyone who has been successful at another firm who has moved to Ed Jones?



HAHAHAHAHAHAHAHAHAHAHA!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Jun 26, 2007 11:07 am
Bobby Hull:
Beagle:

Do you know of anyone who has been successful at another firm who has moved to Ed Jones?



HAHAHAHAHAHAHAHAHAHAHA!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!



It is a serious question!    Do you know ANYONE who was successful at another firm who moved to Ed Jones?

Jun 26, 2007 12:00 pm
spikedkoolaid:

So I talked to my buddy who is still at Jones and he was telling me how the NASD is going to model the industry after Edward Jones---Puke! 


He was telling me that they are still blowing smoke about 25,000 Financial Advisors--Mega Puke!


He also mentioned they are going to have diversification trips awards for BOA's (Branch Office Administrators)--Yeah Right!


They are working on a fee based asset allocation model that will be rolled out and will be the envy of the industry--Dangle that Carrot!!


They have figured out how to rally the troops and tell them how great they are and how much they appreciate them and then they send them a bill for the 2 night stay at the Super 8!



His RL must have received a completely different agenda than mine did. 


No mention of a BOA diversification trip.  They did mention the fee based model in a video.  My interpretation is that it will be a mutual fund advisory account only.  Not traditional fee based.  Sort of like buying one of the Goldman Strategy portfolios, just through Jones and I get to keep a bigger piece of the fee.  We hear the 25,000 FA number from time to time.  I've been hearing it since I started with Jones over 10 years ago.   If we can just stop putting so many of them in my neighborhood I'd be happy.

Jun 26, 2007 12:32 pm

It never stops.  I hope they all enjoyed the traditional meal of hamburgers and hot dogs on the first evening and that they all got their rocks off congratulating the award winners.  Typical response "I'm so happy that Edward Jones gave me this opportunity to earn $89,000 again this year and I hope to break $90,000 next year. For all of you newbies out there, just keep working hard and you can be at this level in 8-10 years just like me. I Love Edward Jones!!!"

Jun 26, 2007 1:13 pm
Beagle:

Do you know of anyone who has been successful at another firm who has moved to Ed Jones?


In our region we have a producer who moved from Merrill, he liked the atmosphere better at Jones. Before the question is asked , I would estimate his production north of 750K......

Jun 26, 2007 1:20 pm

In my old region we had a used car salesman...he was top sales generator all of 2004 at the local chevy dealer.  He was at seg 3 when I left...I would have loved to have given my old boa a diversification trip......to the unemployement line!!

Jun 26, 2007 4:29 pm

Interesting responses!


I was at Jones for 8 years and I heard 25000 FA's back in 1998. 


I also heard they were going to get email--it took 6 years to put that into place(are they still using monochrome screens?)


I also heard they were getting fee-based-That was officially 1 1/2 years ago.


I also heard they were going to dole out the partnership, it took 3 years after the legal troubles.


Amazing how they dangle the carrot!


BTW, In 8 years at Jones I never saw one IR that was recruited from Smith Barney.  I used to ask why can't we attract FA's from Smith Barney, they used to say because they have a golden handcuffs there and they don't want to move. 

Jun 26, 2007 8:55 pm
noggin:
Beagle:

Do you know of anyone who has been successful at another firm who has moved to Ed Jones?


In our region we have a producer who moved from Merrill, he liked the atmosphere better at Jones. Before the question is asked , I would estimate his production north of 750K......



I'm calling BS on that one.  I spent seven years at the cult and NEVER saw one decent transfer broker.  In fact the only transfer brokers were from the banks or recently fired from a wirehouse for lack of production.

Jun 26, 2007 9:11 pm
noggin:
Beagle:

Do you know of anyone who has been successful at another firm who has moved to Ed Jones?


In our region we have a producer who moved from Merrill, he liked the atmosphere better at Jones. Before the question is asked , I would estimate his production north of 750K......



I don't believe you. 

Jun 26, 2007 9:12 pm
Gone Indy:
noggin:
Beagle:

Do you know of anyone who has been successful at another firm who has moved to Ed Jones?


In our region we have a producer who moved from Merrill, he liked the atmosphere better at Jones. Before the question is asked , I would estimate his production north of 750K......



I'm calling BS on that one.  I spent seven years at the cult and NEVER saw one decent transfer broker.  In fact the only transfer brokers were from the banks or recently fired from a wirehouse for lack of production.



You would be absolutely wrong......He is a Segment 5 producer since segment 5 was launched.......Great guy as a matter of fact.

Jun 26, 2007 9:48 pm
noggin:
Gone Indy:
noggin:
Beagle:

Do you know of anyone who has been successful at another firm who has moved to Ed Jones?


In our region we have a producer who moved from Merrill, he liked the atmosphere better at Jones. Before the question is asked , I would estimate his production north of 750K......



I'm calling BS on that one.  I spent seven years at the cult and NEVER saw one decent transfer broker.  In fact the only transfer brokers were from the banks or recently fired from a wirehouse for lack of production.



You would be absolutely wrong......He is a Segment 5 producer since segment 5 was launched.......Great guy as a matter of fact.



BS

Jun 26, 2007 10:08 pm
noggin:
Beagle:

Do you know of anyone who has been successful at another firm who has moved to Ed Jones?


In our region we have a producer who moved from Merrill, he liked the atmosphere better at Jones. Before the question is asked , I would estimate his production north of 750K......



That is classic Jones...and you are swallowing the whole hook.

I'm not saying you are lying.  You indeed were probably told a producer from Merrill transfered to EDJ becasue he liked the folksy Wal-Mart environment...but don't believe it.  It's pure BS.

Open your eyes Nemo.

Jun 26, 2007 10:47 pm

You guys are simply amazing, do you honestly think that no producer would leave the mother Merrill?? Or that no prodocer would ever come to jones?? The truth is never found in absolutes and to say that there has never been a good producer at a wire house that came to Jones is simply lunacy. Have there been very many, probably not but to say the guy I mentioned wasn't a good producer at Merrill is BS. This guy has one client that he manages over 30M in Munis for.....

Jun 27, 2007 10:16 am

I's very funny on how on this forum an anti-jones statement like, "I once spoke to a guy  who knew a guy that was a GP and he said...." is taken has gospel, but when someone asks has a good broker ever moved to Jones and someone has one in their region it's called bs.

Jun 27, 2007 10:36 am

Max-


During my time at Jones, I saw only one broker with over 20 years of experience come in from UBS. None from Merrill, SB, Wachovia, AGE, etc. Our region was large about 60 brokers.


A morgan rep took over my office when I left, and he was let go because he was too new in the biz and did not hit production requirements. He was a goodknight before he took the office over so he wasn't much of a producer, but who is early in their career.


Hopefully you see some balance in my statement. I am sure there are some wirehouse brokers who transitioned to Jones, but very much in the minority. In fact, I think Jones would prefer to build the old fashioned way. One foot in front of the other.

Jun 27, 2007 11:40 am

Just got off the phone with a friend in the next region over...He said the person they've pegged to replace my replacement...are you ready...is selling vacuum cleaners currently.  Vacuums and tablet PC's...what a combination...