You are at a very strong ML office! The one in my area looks nothing like that. Indy or Jones you must be a self-starter that does not need the motivation of others in your office to get you fired up and making the calls. I agree, it is sometimes the hardest part of this business.

Guest1, there’s one broker in a Jones office, and there may be just one broker in an indie’s office.  That is where any similarity between Jones and independents ends.  Clearly for you Jones is the greatest thing since sliced bread (and I’m happy for you), but to an entrepeneur, Jones is pure liquid hell.  So please don’t try to pass off the “being at Jones is just like being indy with great back office support” pablum…it’s simply not true.   

Starka, easy big guy! Don’t think I insinuated that at all. I don’t think ANYPLACE is the greatest since sliced bread. Every shop can improve and as an entrepeneur I have the control to do that for myself, my staff and my family. Please remove the chip from your shoulder as it is making a funny wrinkle in your coat.

No chip there, Guest1.  Simply correcting an error in your statement!

Which error would that have been?

You disagree that INDY and JONES are alike in the manner that you are in a office by yourself without the "water cooler" motivation to get you fired up? Because that is the only comparison to INDY and Jones I made.

I have to agree with guest1. He really did not draw any other conclusions, other than the physical nature of an ED jones office being like an Indy office. I think you went a little overboard STarka.

You’re certainly entitled to think that.

Starka, you mis-read my post. That is ok. Moneyadvisor, I am not use to anyone agreeing with me on this board. Don’t let it happen again! LOL

[quote=Starka]Guest1, there's one broker in a Jones office, and there may be just one broker in an indie's office.  That is where any similarity between Jones and independents ends.  Clearly for you Jones is the greatest thing since sliced bread (and I'm happy for you), but to an entrepeneur, Jones is pure liquid hell.  So please don't try to pass off the "being at Jones is just like being indy with great back office support" pablum....it's simply not true.    [/quote]

As usual Guest1 can't see the forrest through the trees, because he thinks he will be a LP one day or maybe a GP 

Starka you nailed it............

Moneyadvisor,

I am about to give you the best piece of advice you will get today.  If your ML office is as you say it is, you should stay.  Work hard, be in early (even if your just checking Fox News at 7:00 am) and leave late.  Try to do as much work IN THE OFFICE as possible.  WHY?  Because at ML, perception is EVERYTHING.  You need to look good and be around often.  Obviously you need to bring in some accounts to stay, but if you can just hang on long enough and get into some kind of formal partnership, you will be set for life.  Trust me, I've seen it.  I was at a mediocre ML office (market penetration 31%, WAY below average), so the opportunity wasn't there for me, but the main office in our complex...unbelieveable.  It might even be the office you are talking about, because it was just as you say. 

Many advisors at ML built their book on the "sit and swivel" method.  IF only they'd get rid of that darn FAC!  Talk about cutting your trainee's throats!

BTW, not that anyone cares, but I'm proposing on 3.2 million cash proceeds from real estate sale today!  Gotta love those c0mmercial lenders.  Wish me luck.

BankFC -

You NAILED it! That is exactly the atmosphere. It's the lottery system. Encouraging, yet frustrating at the same time.

Here are some interesting facts for all you Jones lovers and haters out there:

Recently the Saint Louis Business Journal ran an article on the highest paid execs in Saint Louis.  Jones had 5 of the top 10.  Not bad, but here is the kicker.  They only have to report their top 5 on their K1 report.  No other company in Saint Louis has anywhere near that many execs at the top of the pay scale.  WHAT WOULD IT HAVE LOOKED LIKE IF THEY HAD SHOWN THE 10 OR 20 TOP PAID GUYS AT JONES?

When all of you Jones brokers look at how much you are paying for heath care, office expenses, and the horrible retirement plan how does it make you feel that your hard earned money is making the rich get richer.  Also what about your clients having to pay for TOD fees. 

This is why you have not seen a big technology roll out at Jones, this is why you have not seen new departments created to look at more fee based planning.  It is because these things cost money and these top execs are not willing to take a pay cut to provide these services or benefits for the clients and their employees. 

Listen you Jones supporters can all take up for the firm, but how do you explain the FACT that unlike any other company in Saint Louis they have this many top paid execs when only the top 5 had to be listed.  AG Edwards CEO, which is also based in Saint Louis was ranked 38 and Stiefel Nicalaus was ranked somewhere close too.

If someone has an explanation other then that Jones is ran by a bunch of greedy executives who put on a good face for their IRs and their clients please let me know.  Would doing whats best for the clients and employees mean bringing your pay scale down to a more appropriate level where you still make a good living and share the riches to help reduce fees for the clients and increase the take home pay and benefits for the employees?

Even if you are a Jones supporter through and through you need to put these things in perspective.

GP...It is a BIG DEAL

An expensive deal that all the employees and customers are paying for.

I have always thought that the GP deal was a no brainer for the chosen few.  And it is a great carrot to keep the deluded clones repeating the company line(s), and paying the bills.

Here's a thought.  The GP's dont want fee based programs because then they would have to split the recurring revenue with the IR's.  With revenue sharing, they get to keep nearly all of it.  The only downside is that in order to make the deals sweet enough for the fund companies to pay the big kick backs, the selection of products has to be narrow to focus more dollars to fewer funds.

It  is obvious that the Jones line of, " these are the fund companies that pass our due diligence tests" is a bunch of crap.  The real reason behind the "preferred" funds is to leverage their relationships and maximize revenue sharing.  Otherwise a couple of fund families would have been fired 3 years ago... as they should have been.

But, the thing that gets me the most is the health ins.  Nearly every other large firm helps FA's with the cost of health ins, except Jones.  The only upside to that is that I bought it cheaper for me and my family privately when I was at Jones because I could get it better and cheaper on my own.  And that was one less thing I had to worry about when I went independant earlier this year.

Between health ins and 1350/mo for "technology and communications," no wonder Rich Malone makes so much money.

GP, to IR, bend over this is good for you and your client....my "5" mil is not enough for my family needs!  Gee,  maybe we need to reduce payouts again 

You've been bending over so long you don't know what way is up and out the door................but you keep taking it, must be you like it..................