Jones

or Register to post new content in the forum

20 RepliesJump to last post

 

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Jun 17, 2005 7:27 pm

All the EDJ bashing is starting to make me feel like it must be
something great, b/c why would people talk so bad about it, unless they
were jealous. It seems to me like a lot of people regret their
decisions on going indy, or going with another firm. I also don't
understand people calling them drones. They are no more drones than
anyone else working to turn a dollar. I know two EDJ IR's personally.
One being my dad. And they work their ass off, but they also love every
minute of it. And they make pretty damn good money too. I don't know
about you'll but eating lunch at Subway is fine for me. I should note
I'm saying that in reference to somebody's negative comment about EDJ.
Also, I'm from a smaller town. If you don't like EDJ than quit talking
about it. And I'm also wondering when the hell do you'll have the time
to post? I would be out selling my balls off. I think EDJ IR's get paid
well too. I mean if your doing your job. And what is wrong with
trips.  Anyway, my point is that all this negative stuff is having
the opposite effect on me. It is making me want to work for EDJ more
and more. I will shoot for GP but LP is fine for me. 

Jun 17, 2005 11:01 pm

First of all, if you want to be a success at anything learn to compose your messages in English.  Learn to spell. Your and you're are two different words. "Your" indicates ownership while "you're" is a contraction between you and are.  Then and than are not the same either. If you can't express yourself in a trivial internet forum how do you expect to become a success or impress your potential clients?


All the EDJ bashing is starting to make me feel like it must be something great, b/c  why would people talk so bad about it, unless they were jealous. It seems to me like a lot of people regret their decisions on going indy, or going with another firm. I also don't understand people calling them drones. They are no more drones than anyone else working to turn a dollar. I know two EDJ IR's personally. One being my dad. And they work their ass off, but they also love every minute of it. And they make pretty damn good money too. I don't know about you'll but eating lunch at Subway is fine for me. I should note I'm saying that in reference to somebody's negative comment about EDJ. Also, I'm from a smaller town. If you don't like EDJ than quit talking about it. And I'm also wondering when the hell do you'll have the time to post? I would be out selling my balls off. I think EDJ IR's get paid well too. I mean if your doing your job. And what is wrong with trips.  Anyway, my point is that all this negative stuff is having the opposite effect on me. It is making me want to work for EDJ more and more. I will shoot for GP but LP is fine for me. 


It is nice that you are loyal to your Father, and I admire you for that.  However, you should not predicate your future on emotional ties.  You are very young and probably have the same poor education that passes for public school education and have no cultural references, but I will try.   Where there is smoke there is fire?   You may have heard that one.  The reason there are so many bad feelings towards Edward Jones (as a company not towards the individuals like your Father) is that they deserve it.  Oh well, trying to tell the young not to make the same mistakes as their elders is an exercise in futility. 



BTW:  don't work your balls off you might find them usefull in the future.

Jun 17, 2005 11:21 pm

Hey Riley, it's great that you are happy with EDJ...everyone has a right to be happy with what they do.  I've never worked for EDJ, but I've had it pitched to me a couple of times and while I have no doubt that you and your father love it, I decided that it wasn't for me, and I can assure you that there is no jealousy here as I have no desire to work there.  If I had, I would have taken one of the two job offers that I had from EDJ.


Most of the EDJ guys I know are nice hard-working guys, but I hate to break it to you, they're not all happy.  The complaints I hear is that the technology is old and expensive, the product line is limited, and the payout, while better than the average job, is lower than what it should be.  Many EDJ reps aren't very happy with all of the negative press the firm has received over revenue sharing.  Nor are they happy with being kept in the dark about questionable firm practices.


As far as your advice to quit talking about Jones unless you're drinking the Koolaid, I seriously doubt if you'll get many posters to go along with that.  Most posters ascribe to that little freedom of speech thing we have here in America, so while some posters can be irritating and even downright nasty, they still have a right to post their thoughts.  I'm sure that many of the Jones bashers feel like they are doing all of us a public service by warning us of potential negatives experienced with EDJ.  Of course, you are welcome to skip over and not read the posts of any jones bashers.


Bottom line is, you're welcome to sell your balls off at EDJ while I get paid to advise my financial planning and investment management clients...I know what path I prefer.  As long as you're happy with EDJ, I wish you well and hope you reach your goal of LP or even GP...if you do, you'll have the opportunity to make EDJ a better place.

Jun 18, 2005 1:55 am

thanks for the insight, as for looney, i dont give two sh*ts about how
i write on this forum, stick to the topics, i went to private school
and believe it or not had a 1320 SAT, and a 129 IQ, my mom is also an
english teacher i didnt know i was going to be graded on this forum so
lay off. as for jones, i am trying to find out what to do, its almost a
love it or hate it deal. i think that it would be a good start, and i
can figure out the rest later. 

Jun 18, 2005 9:37 am

Riley44-


Your last sentence is quite insightful and I would agree 100%. The training is better than most, the mentoring probably can't hurt. What you will find is about year 5, questions will be popping up whether its a good long term fit.


I came to the conclusion that it isn't substantially better anywhere else if you are thinking long term. It isn't just about the payout, the technology, product limitations,etc.


Jones isn't perfect, but neither is the indy world or the wirehouses.

Jun 18, 2005 11:13 am

that sounds about right, I have grown up around it, so  I'm a
little bias, but nothing is perfect and I'll have to see for myself, I
just need to get my feet wet, and then see what is going on, I just
want to make lots of money, and build good relationships on the way--

Jun 18, 2005 11:39 am
Jun 18, 2005 12:34 pm

Jones is probably as good a place to start as any for a newbie broker.  They will train you for the series 7, don't require that you know anything about financial advisory business to begin with and will give you some minimal training in selling products.  I worked there for 4 years and moved on.  I don't hate the company, unlike many who post here.  They were a good stepping stone to be where I am today.  Since your Father is a Jones rep, I assume you will be doing a Goodnight plan, which will give you a leg up.  As to making "lots of money", don't expect to have that happen at Jones.  Other posters have remarked on their low payout.   Just remember you are not married to the company. So,even though your Father may be happy there, be aware that there are many other, and I feel better, options out there. 



my mom is also an english teacher i didnt know i was going to be graded on this forum


I hate to break it to you, kiddo, but you are judged and graded on everything you do in life.  If you can't be bothered to compose an proper post on this forum, then how much attention to detail will you be bringing to your client's business?  There is a time an place for everything.  In a MMORPG  (of which I play several in my spare time )or chat room it's ok to use l33tsp34k or aolspeak. Here, you are asking for professional advice from professionals.

Jun 18, 2005 12:39 pm
riley44:

thanks for the insight, as for looney, i dont give two sh*ts about how i write on this forum, stick to the topics, i went to private school and believe it or not had a 1320 SAT, and a 129 IQ, my mom is also an english teacher i didnt know i was going to be graded on this forum so lay off. as for jones, i am trying to find out what to do, its almost a love it or hate it deal. i think that it would be a good start, and i can figure out the rest later. 



LOL...Sure,sure



If your daddy is in the bus. why bother asking here? 


If your so darn smart figure it out for your self. 

Jun 18, 2005 1:24 pm

I think that I am unaware about the money that can be made some where
else. Looney, I would like to know what kind of money you are making
now  compared to when you were at Jones. Now that I think about
it, I wouldn't mind having my own Investment Co. I could get all kind
of tax shelters out of it. 

Jun 18, 2005 2:06 pm

nice job being a schill riley

Jun 18, 2005 3:54 pm

He's just trying to get rise out of people. 


Posting multiple posts about Jones in child like verbage to create arguments.  Well done, Well done 

Jun 20, 2005 9:27 am

What about a fee-based business?  Is that something that would be good to have as opposed to having to work twice as hard to make up for that specific lack of a revenue stream?  I'm not saying it's a horrible firm, but do your research and due diligence.  Look at as many different firms as possible.

Jun 20, 2005 1:01 pm

i will thanks

Jun 20, 2005 10:11 pm

brokerrecruit, to read your post fee based business is for the broker?  where are the clients yachts?

Jun 20, 2005 10:15 pm

Dazed, are you suggesting that clients can't make money with a fee based platform?

Jun 20, 2005 11:16 pm

not at all. just tired of always reading how it is in the brokers best interest and not the clients. read the post, that is exactly what they inferred.. fee based is not for all like some insist

Jun 21, 2005 11:00 am

No one has said that fee based is for all.  I am in the process of obtaining my series 66 and plan to transition some of my clients to a fee based platform.  This is on a case by case basis, as fee based is not suitable for some clients.  Fee based accounts are a win win for both the broker and the client.  I feel that it puts the perceived controversy over commissions and "dialing for dollars" aside and places the advisor and the client on the same team.  


A client who has a portfolio of US Treasuries would not be a candidate for fee based account.  However, by becoming an RIA, the advisor can now charge for services like compiling a financial plan and for time spent.  In my case I have been settling several estates, bringing in lost and existing stock certificates, changing title on invesments and so on.  In some of these cases there isn't much in the way of commissions.   All this takes much time for which I am not now able to be compensated, but soon I can charge for my time in lieu of commissions, again on a case by case basis.

Jun 22, 2005 10:27 pm

BL,


That is why I went the INDY route and became an RIA, I want to get paid for what I do....It's not for everyone that's true.   Not for low producers like Guest1 and Bill F-UP at EDJ they would starve if they couldn't feed their GP's


BL, get that evil monkey out of the closet.....he sounds like a Jones IR...........................

Jul 3, 2005 9:43 pm
BrokerRecruit:

What about a fee-based business?  Is that something that would be good to have as opposed to having to work twice as hard to make up for that specific lack of a revenue stream?  I'm not saying it's a horrible firm, but do your research and due diligence.  Look at as many different firms as possible.



Does Jones not allow fee based or in lieu accounts?