[quote=JAXSON][quote=Philo Kvetch] [quote=JAXSON] The funny thing is that in Eval/Grad they are telling newbies to ask prospects that already have an advisor the following… 

Yeah Yeah Yeah Philo apparently you haven't seen the ICA Guide chart it shows how just this one simple mutual fund has consistantly recovered from everything that the ol dirty market can throw at it.

ahhh…i sold cars once upon a time…heard that a lot (among other equally disturbing ways to describe ripping people off)…forgot about Step Brothers. Funny movie.

Yeah well you will find a lot of glorified used car salesmen in this business.

[quote=Philo Kvetch] [quote=JAXSON][quote=Philo Kvetch] [quote=JAXSON] The funny thing is that in Eval/Grad they are telling newbies to ask prospects that already have an advisor the following…

[quote=Philo Kvetch]

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[quote=JAXSON]

[quote=Philo Kvetch]

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nah I can google sh*t all day long…

In options trading, a long butterfly (sometimes simply butterfly) is a combination trade resulting in the following net positions:

all with the same expiration date. At expiration the position will be worth zero if the underlying is below X−a or above X+a, and will be worth a positive amount between these two values. The payoff function is shaped like an upside-down V, and the maximum payoff occurs at X (see diagram).

[quote=JAXSON] nah I can google sh*t all day long…

In options trading, a long butterfly (sometimes simply butterfly) is a combination trade resulting in the following net position:

all with the same expiration date. At expiration the position will be worth zero if the underlying is below X−a or above X+a, and will be worth a positive amount between these two values. The payoff function is shaped like an upside-down V, and the maximum payoff occurs at X (see diagram).

I am not stupid by any means, but I am lacking knowledge in this industry and want to learn as much as possible before I go Indy. I also really enjoy goofing off with you all on these posts!

I am not stupid by any means, but I am lacking knowledge in this industry and want to learn as much as possible before I go Indy. I also really enjoy goofing off with you all on these posts!

What is the “other site”, I am interested in learning as well.

I just left Jones after 7 yrs and wish I had done it sooner. They have a very expensive model that will only get more expensive as headquarters continues to grow. The new regs will have a very profound effect on their revenues and changing their age old business model will be a monumental task. I never saw  the son or daughter of a $100M plus office holder fail but I saw lots of scratch starters, that were good people fail? New news in this economy have very steep odds. If you can go independent, I would suggest that. You'll find the situation much better.

Can you tell us more about your situation?

What do you want to know?

[quote=phever]

I just left Jones after 7 yrs and wish I had done it sooner. They have a very expensive model that will only get more expensive as headquarters continues to grow. The new regs will have a very profound effect on their revenues and changing their age old business model will be a monumental task. I never saw  the son or daughter of a $100M plus office holder fail but I saw lots of scratch starters, that were good people fail? New news in this economy have very steep odds. If you can go independent, I would suggest that. You'll find the situation much better.

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I hope these are just off the cuff remarks and not thought through opiniions.

So you think by adding to the home office space and people, that adds expense?  At which firm or industry is this not the case?

You think the new regs are going to have a profound effect on EDJ?  No kidding?  I guess they won't apply to the other firms... or your new shop.

Scratch starters at Jones fail more often than those handed assets?  You are really blowing my mind here.   FYI, new news have very steep odds in any economy, again regardless of firm.

And surely you don't thin that new news have better odds starting independent?

I thought only the smart brokers left EDJ....

Wow, who rained on your parade? I bet your customer service ratings are through the roof. Take a chill pill and drink some more kool aid.

[quote=phever]

What do you want to know?

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Just curious how long you were at Jones, assets, production, where you went, how the transition went, the typical stuff.

I don't want to give out too much info because it is still a competitive situation and I know a lot of my former colleagues frequent this site. I would be glad to discuss at a later date. I don't want to bash Jones because they gave me the opportunity. I just never drank the kool aid and now know that there are a lot of other good firms out there that can be a much better fit if you want the independence that Jones touts. I opened an office very close to my old office.

Hulk wasn't spewing kool aid.  He was commenting on your assessment of EDJ. 

To further question your brilliant commentary:

The only time the HQ grows is when the FA number goes up.  There's a ratio they try to maintain between HQ and the field.  So, while you are technically correct that expenses will grow as HQ does, so will revenues as we add new FAs. 

Let's say the new regs do have an impact on the Jones business model.  The general consesus right now is that they won't, but that's another discussion.  If it does, it would more than likely force clients to use more Advisory Solutions or UMA type of accounts.  That would be a tremendous boost to the bottom line. 

I have seen sons and daughters of big brokers fail.  Some of them grew up with a silver spoon in their mouth and don't really know how to work.  The come in and try to take over a part of Daddy's book, and they fall flat on their face.  I've even seen it happen to GP's kids.  

If you think this economy has been harder on new/news than any other economy, then you haven't been paying much attention to the new/news in your region.  It sucks to be new in any economy.  When the market is going great, nobody wants to mess up a good thing, so they don't ACAT.  When it's bad, they're afraid to sell something in case that investment might come back up 1-2%.  People are dumb no matter what the environment.  Generally speaking, new/news haven't come to that realization yet. 

Independance is great.  From what I hear.  It comes with additional baggage that may or may not make it worth while for everyone.  I can see both sides of the coin.  Going independant is not the answer for everyone.