noggin:

[quote=B24]I think Sooth and Spiff are embellishing in both directions… Spiff, the story isn’t that good… Sooth, the story isn’t that bad…

I look around my old region and the ones that have left EDJ are most definitely outproducing those that either took over their assets or offices. I attribute that to the beating of the hiring drum. The quality of new hires has diminished greatly in the last 5 years in the 2 regions that I have witnessed. The bad news for Jones is that they spend the money to hire them, train them and then within the first 3-6 years they lose them to RJ or LPL. Repeat.Repeat. Repeat. [/quote]



Actually, some of the 5-10 year advisors have commented that the hiring they see is better than it used to be. They said the mad hiring dash they made in 99 was awful. Hired anyone with a pulse. We have a ton of people in my region in the 7 year range. They feel as if FA’s are coming out much stronger and quicker than past hires. Of course, some of it could be coincidence, who knows. I was not around here 7 years ago, so I really can’t compare.

jamesbond:

lets be real. Spiff is a company man, good for him. He buys the line that jones puts out. he is loyal to his firm and he should be or he needs to go elsewhere. I did catch something on a post of his i am surprised hasnt been brought up. Spiff use to be in  IR training. So i am guessing he was a less then successful rep who was brought into the home office, given additional training, then given an office after paying his dues and some LP. Just a guess. But good for him for building on what he was given and making it in the business.

  Yeah, you're guess is wrong.  I started in the home office.  Then went to the field after just over 5 years.  BTW, I'm not offended by your assumption.   You just simply assumed incorrectly.     Perhaps I misunderstood the "talent drain" reference.  I was thinking that you meant Jones lost so many advisors in the time frame referenced that they were struggling to make ends meet.  Which is entirely not true.  Did Jones lose some advisors?  Yep.  Just like they are doing now.  Just like they always have.  This industry is in a constant state of flux.  You guys tend to only focus on the people who have left Jones and have gone on to be great producers.  I'm gonna venture a guess to say that it happens with other brokerage firms too.  I'll bet there were some good producers at ML that became great producers when they went RIA or indy.  I'll bet those great producers would have been great producers wherever they worked.    In my region, that I can remember off the top of my head, we've had 9 guys leave Jones to go to other brokerage firms.  4 went to LPL, all to the same office.  I don't know or care about their production numbers, but I know they didn't take the assets that they were planning on because I know the people who took over their offices.  I'm sure they're producing just fine.  We had 2 guys go to the bank.  One lasted there about 2 weeks and is now out of the business, one is doing better than he was at Jones when he left.  He said the world opened up for him after he left Jones.  I think he was bored at Jones and didn't want to prospect anymore.    One guy went to ML and I have no idea how he's doing.    One guy went to MS to a team.  He says he's doing fine, but if you ask me I'll tell you I'm doing fine whether I am or not.     One guy went to BAC because he liked the fee based model.  He's probably producing better than he was at Jones, but I'm not really sure.    That's my region's version of talent drain.  I've never heard anyone say that any of those guys are lighting it up BECAUSE they left Jones.  Time in the biz, natural talent, and a great market have all played into their current success.  Maybe I don't know their whole story, but I don't think Jones is any worse for the wear because any of those guys left. 

WestH:

How many Independent guys joined Jones & now are huge producers at Jones?

That was worth 10 points.......ding,ding,ding we have a winner!!!