How's that Jones Bank and REIT portfolio
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BPD-I’m glad you could provide a website that proves you are recruiting. I didn’t say you aren’t adding brokers—all about 25 years old and never had a real job before. That sounds like trouble to me. 11,000 $200k brokers isn’t my idea of success or a firm that’s doing well. What’s the average production at Eddie right now?
[quote=joedabrkr]
BPD-
Weren’t you all pissed off about a year ago and posted about how the Big Green Machine had screwed you over and you were outta there?
What happened, did they promise you GP?
[/quote]
That was Bill Falkland
[quote=Maxstud]
[quote=joedabrkr]
BPD-
Weren’t you all pissed off about a year ago and posted about how the Big Green Machine had screwed you over and you were outta there?
What happened, did they promise you GP?
[/quote]
That was Bill Falkland
[/quote]
You’re absolutely right. I stand corrected.
I wonder what happened to ole’ Bill. It would be interesting to hear the sequel.
[quote=joedabrkr]
[quote=Maxstud]
[quote=joedabrkr]
BPD-
Weren’t you all pissed off about a year ago and posted about how the Big Green Machine had screwed you over and you were outta there?
What happened, did they promise you GP?
[/quote]
That was Bill Falkland
[/quote]
You’re absolutely right. I stand corrected.
I wonder what happened to ole’ Bill. It would be interesting to hear the sequel.
[/quote]
Agreed.
BPD-I’m glad you could provide a website that proves you are recruiting. I didn’t say you aren’t adding brokers—all about 25 years old and never had a real job before. That sounds like trouble to me. 11,000 $200k brokers isn’t my idea of success or a firm that’s doing well. What’s the average production at Eddie right now?
Ok Donatello, sounds like you are an indy. Maybe LPL. How many reps does LPL have now? 6, 7, 8 maybe 9,000. How many would you say are over $100k gross? Take a look:
http://www.investmentnews.com/assets/docs/CI16801423.PDF
Could it be possible that half of LPL brokers are grossing less than $100k?
Who, knows, large, peanut-encrusted candy bar…and who cares. I’m indy at LPL…grossing $300K and keeping over $200K. Apparently LPL is willing to work with small producers while able to work with multi-million dollar producers. I looked at your firm. The technology and offerings were, to put it mildly, lacking when compared to LPL or even most other firms. The freedom was lacking. The payout was lacking. I was recruited four times by four different EDJers and the decision was easy all four times. The only plus I saw at Jones was availability of local muni bonds.
With most of us here, you're wasting your time trying to convince us that your firm is an attractive alternative. I may again change B/Ds in my career, but unless things change dramatically at EDJ, I won't be changing to your firm.Indyone,
Not trying to convince anyone Jones is better than indy or LPL, justing letting donatello know that if he wants to start talking about firms with average productions that are low, he should look at his own firm and the largest indy firms, that’s all. I have friends at RJ and LPL and they are happy there. They do miss the trips and the comraderie (sp.) that they had at Jones and they say their net, net pay out is in the mid to high 60s range. Both have about half of their production coming from fee based with a full time assistant.
BPD-The only person I know at LPL is netting 90k per month. He showed me him paycheck. Some may miss the trips, but not me. Nothing is more revolting than a bunch of wannabees in a room telling everyone how good they are and puffing up their chests. Where I work, we know how good you are. It’s posted every day. No more to say after that.
(picking jaw up off the floor) That's probably one of the most fair and balanced replies I've ever seen from you...what got into you...Christmas spirit?!! You've completely disarmed me and thus I have no witty retort (I think you even spelled "camraderie" right). I guess I'll just wish you a Happy New Year... (PS, you really should look into what your indy friends have...it's a pretty good gig...)Indyone,
Not trying to convince anyone Jones is better than indy or LPL, justing letting donatello know that if he wants to start talking about firms with average productions that are low, he should look at his own firm and the largest indy firms, that’s all. I have friends at RJ and LPL and they are happy there. They do miss the trips and the comraderie (sp.) that they had at Jones and they say their net, net pay out is in the mid to high 60s range. Both have about half of their production coming from fee based with a full time assistant.
I’ve said it before and will say it again. WE DON"T NEED ANYMORE INDY’S!!! We have a good thing and I would like to keep it that way. Jones is the greatest company in the world, along with UBS, SB, Merril and Wachovedwards…Indy is a terrible way to make a living and the hours suck, the time off sucks…everything sucks about being indy. Wirehouse and little bitty regionals are the best.
[quote=noggin][quote=Spaceman Spiff]CJ - did you expect a different answer? You begged me for an answer, so don’t complain about what you get.
spears - Years in the home office. My office should, no will, be profitable enough by the next offering for my years in the field. [/quote] See that is why some of us who built our offices from scratch have less respect for a guy like you. Try building your office from scratch and qualifying for LP by actually producing revenue......[/quote] Sorry, noggin, but in this case you are wrong. The LP I got didn't have anything to do with my office. I left the home office a few months before the LP came out. I was fully expecting to get skipped on that offering because I left for the field and my office wasn't anywhere near profitable enough for LP. I was really suprised when they called and offered me a small chunk of LP because of the years I had spent in in the home office that would have otherwise been ignored. Had I thought about it a little bit longer, I should have waited until after the LP offering to go to the field. You can have a little less respect for me because you believe that taking over a small office is the same as winning the lottery if you feel like it. But don't get uptight about my LP offering._____________________________________________________________________ BPD- You must understand that as a Independent Advisor who also happens to be the Branch manager and boss/owner; at LPL we can hire advisors to work under us. This can skew the production numbers simply because I know several people who pay these advisors a salary + bonus comp structure and their job often involves more administrative tasks that are not necesarily totally production driven. LPL also has a bank/credit union platform, but I must admit that I have no clue one way or another how it is structured and how that fits into the survey. Maybe someone else on here could speak to that.[quote=donatello] BPD-I’m glad you could provide a website that proves you are recruiting. I didn’t say you aren’t adding brokers—all about 25 years old and never had a real job before. That sounds like trouble to me. 11,000 $200k brokers isn’t my idea of success or a firm that’s doing well. What’s the average production at Eddie right now?[/quote]
Ok Donatello, sounds like you are an indy. Maybe LPL. How many reps does LPL have now? 6, 7, 8 maybe 9,000. How many would you say are over $100k gross? Take a look:
http://www.investmentnews.com/assets/docs/CI16801423.PDF
Could it be possible that half of LPL brokers are grossing less than $100k?
Spacey-Since I’ve been watching this forum for about two years without posting, it feels like I know a little about you. What’s interesting to me is that you seem pretty intelligent (Broker24 is too I think), but the Jones stuff is so deeply embedded in you—the only thing I can figure out is that you don’t have enough under management to move or even look. Once you look, you can’t go back. Remember what it was like when you came home that first time from college??? Things just weren’t the same. That’s how it will be for you.
I was given NO SUCH GIFT as $10m in an office, but there are plenty that are given that gift today, including the person who took over my office....and yet I still transferred over 95% of what I wanted....YOOO HOOOO! Didn't hurt me a bit. I was new-new all the way, but would have jumped on such a free gift as an office with money in it. Good for you Spacey! I've decided to try a really good exercise. I went to Jones' website and cut and pasted all the IRFA's they profiled on there. Even though most are probably relatives of the GP's, I think it will be interesting to check....1 month.....6 months....how many are left? In two years I've only seen one vet leave here (there have been a couple newbies out of 100 or so in the region), and the head of Compliance sent out an e-mail (high tech, huh?) to everyone telling them where he went and to give his number to those clients that call and ask. That's class. All I got was lied about and trashed. I won even more business because of it. Someday I hope to see you break free. As of now, I just run outside with my arms in the air and yell...."free at last....thank God I'm free at last!!!!"[quote=Spaceman Spiff][quote=noggin][quote=Spaceman Spiff]CJ - did you expect a different answer? You begged me for an answer, so don’t complain about what you get.
spears - Years in the home office. My office should, no will, be profitable enough by the next offering for my years in the field. [/quote] See that is why some of us who built our offices from scratch have less respect for a guy like you. Try building your office from scratch and qualifying for LP by actually producing revenue......[/quote] Sorry, noggin, but in this case you are wrong. The LP I got didn't have anything to do with my office. I left the home office a few months before the LP came out. I was fully expecting to get skipped on that offering because I left for the field and my office wasn't anywhere near profitable enough for LP. I was really suprised when they called and offered me a small chunk of LP because of the years I had spent in in the home office that would have otherwise been ignored. Had I thought about it a little bit longer, I should have waited until after the LP offering to go to the field. You can have a little less respect for me because you believe that taking over a small office is the same as winning the lottery if you feel like it. But don't get uptight about my LP offering. [/quote] I think you missed my point but here it is for a second time. I have built my office from scratch and should I have the necessary profit numbers I will have EARNED my LP offering. You, however, worked in the home office while providing NO revenue were granted LP. Getting the small office is really none of my concern as I have seen several come through my region and do the same thing. They move offices to gain assets when if they would just do what they hired in to do they could build their own offices. I wish you well but what I have seen in the past doesn't bode well for your future success....._____________________________________________________________________ BPD- You must understand that as a Independent Advisor who also happens to be the Branch manager and boss/owner; at LPL we can hire advisors to work under us. This can skew the production numbers simply because I know several people who pay these advisors a salary + bonus comp structure and their job often involves more administrative tasks that are not necesarily totally production driven. LPL also has a bank/credit union platform, but I must admit that I have no clue one way or another how it is structured and how that fits into the survey. Maybe someone else on here could speak to that. [/quote][quote=BigPayDay] [quote=donatello] BPD-I’m glad you could provide a website that proves you are recruiting. I didn’t say you aren’t adding brokers—all about 25 years old and never had a real job before. That sounds like trouble to me. 11,000 $200k brokers isn’t my idea of success or a firm that’s doing well. What’s the average production at Eddie right now?[/quote]
Ok Donatello, sounds like you are an indy. Maybe LPL. How many reps does LPL have now? 6, 7, 8 maybe 9,000. How many would you say are over $100k gross? Take a look:
http://www.investmentnews.com/assets/docs/CI16801423.PDF
Could it be possible that half of LPL brokers are grossing less than $100k?
That's exactly right. Let's say I develop a really strong relationship with a local CPA, and he wants to be more proactive in helping his clients with tax planning and investment decisions, and he likes my approach. So, I get him properly licensed and we set up a joint rep number where he gets 30% of all revenues from business he refers in to me. We do $200,000 in our second year. He gets $60,000 that flows down to his individual producer number, and probably about $50k in actual incremental revenue over and above his tax practice. Not bad for him. But in the LPL system, he counts as an advisor who did $60k total production.
[quote=noggin][quote=Spaceman Spiff][quote=noggin][quote=Spaceman Spiff]CJ - did you expect a different answer? You begged me for an answer, so don’t complain about what you get.
spears - Years in the home office. My office should, no will, be profitable enough by the next offering for my years in the field. [/quote] See that is why some of us who built our offices from scratch have less respect for a guy like you. Try building your office from scratch and qualifying for LP by actually producing revenue......[/quote] Sorry, noggin, but in this case you are wrong. The LP I got didn't have anything to do with my office. I left the home office a few months before the LP came out. I was fully expecting to get skipped on that offering because I left for the field and my office wasn't anywhere near profitable enough for LP. I was really suprised when they called and offered me a small chunk of LP because of the years I had spent in in the home office that would have otherwise been ignored. Had I thought about it a little bit longer, I should have waited until after the LP offering to go to the field. You can have a little less respect for me because you believe that taking over a small office is the same as winning the lottery if you feel like it. But don't get uptight about my LP offering. [/quote] I think you missed my point but here it is for a second time. I have built my office from scratch and should I have the necessary profit numbers I will have EARNED my LP offering. You, however, worked in the home office while providing NO revenue were granted LP. Getting the small office is really none of my concern as I have seen several come through my region and do the same thing. They move offices to gain assets when if they would just do what they hired in to do they could build their own offices. I wish you well but what I have seen in the past doesn't bode well for your future success.....[/quote] So, you are saying that the only LPs the firm has should be FAs? That the time I spent doing my job at the home office, because it didn't bring any revenue to the firm, shouldn't be rewarded with LP? Please tell me that's not really what you think.[quote=Spaceman Spiff][quote=noggin]
I think you missed my point but here it is for a second time. I have built my office from scratch and should I have the necessary profit numbers I will have EARNED my LP offering. You, however, worked in the home office while providing NO revenue were granted LP. Getting the small office is really none of my concern as I have seen several come through my region and do the same thing. They move offices to gain assets when if they would just do what they hired in to do they could build their own offices. I wish you well but what I have seen in the past doesn't bode well for your future success.....[/quote] So, you are saying that the only LPs the firm has should be FAs? That the time I spent doing my job at the home office, because it didn't bring any revenue to the firm, shouldn't be rewarded with LP? Please tell me that's not really what you think. [/quote]Yep Spiff, that's what I was thinking the first time I read his post. Whether he realizes it or not, that's exactly what he's saying. It's implicit in the statement.
[quote=Indyone]Uh oh…I hope you two don’t attend the same regional meeting…[/quote]
troublemaker…