Jones To Decrease Payout to Financial Advisors

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Nov 26, 2007 5:55 pm

In response the pending litigation on overtime abuses Edward Jones has had to revamp their compensation policies.  Word is that the 40% is going to 30%!  Any Word?

Nov 26, 2007 6:02 pm

Seriously, where do you get your info?  The proverbial Cracker Jack box?

 
 
Nov 26, 2007 6:09 pm

I called Weddle and he said 28% for you Spiff.

Nov 26, 2007 6:16 pm

I called a 20 year vet on the cut in commish...rumor has it.....

Nov 26, 2007 6:50 pm

Mr. Spiff,

On Wednesday the hammer is supposed to drop...Check your broadcast schedule, it should say it's a unrecordable broadcast.
 
What I heard was you won't have to pay for your stamps and phone bill anymore.  You will also not be charged for the errors you make.  There will be a grid system that will be based on Gross Production what payout level you will be at.
Nov 26, 2007 7:26 pm

The good old grid system, huh??? Sounds like Wachovia.......

Nov 26, 2007 10:17 pm
noggin:

The good old grid system, huh??? Sounds like Wachovia.......


Wachovia Doesnt have a Grid....

Nov 26, 2007 10:38 pm

I would send out 10K post cards a month if that were the case

Nov 26, 2007 10:38 pm

no way they do a grid. this will be about expenses (overtime lawsuit etc)

Nov 27, 2007 9:02 am

Just a little FYI...LPL raised our payouts....based on production

Nov 27, 2007 9:53 am

We should all leave and go to LPL if they go grid..


Miss J
Nov 27, 2007 10:00 am

I would open my arms and my heart to you Miss Jones....

Nov 27, 2007 10:02 am

Aww.. That is sweet.. I think it would be a good working enviroment.. Jones and Spears all over again.. Just kidding.. But thanks.. Love you too.

Nov 27, 2007 10:14 am

I left seven months ago to LPL--Leave now before they send out new contracts for all of you to sign.

Nov 27, 2007 10:15 am

So..lets say this rumor is true.  30% payout and they pickup the tab on some of the expenses.  It just shows me the payouts are over hyped from Jones.  If you do the freakin math, you only get around 28%.  Can we all say this out loud....28%, 28%, 28%....louder now 28%...28%...You think the P/L sucked....wait now...28%...I bet its Revenue neutral to the..who....GP's.   What a wonderful, wonderful company.  I wish I were you....Make it a great day.

Nov 27, 2007 11:36 am
Spaceman Spiff:

Seriously, where do you get your info?  The proverbial Cracker Jack box?

 
 
 
Sounds like you will know tommorow! Keep up the hard work!
Nov 27, 2007 12:07 pm

I don't want to alarm any of you Jones people, but rumor has it that starting on Dec 3rd,  whenever your area GP comes into the room, you must stand at attention and salute, or if at a large gathering, bend over and kiss the ring and sing..."hail to the GP"..."hail to the exhaulted one"...Does anyone know where spiffy can buy a cracker jack box??

Nov 27, 2007 12:20 pm

So I take it the cease-fire has been once again broken...

 
Seriously, such a move would come as no surprise to me as it makes good business sense to use a carrot & stick approach to raise production and thus profitability.  Of course the GP's are interested in raising profitability.  I don't know too many business owners that aren't.  You may think they're SOB's for wanting more money, but in that regard, they're very little different from you and me.  Anger at hypocrisy I understand, but you're stating the obvious when you say that the GPs are first for the GPs.
Nov 27, 2007 1:34 pm

I will be civil on the truce thread.  I'm trying to promote the obvious. If you're making an average living at Jones, why not do yourself and your family a favor and go Indy.  Do the same work, and make 2.5 times the money.  Yes, the GP's are for themselves, I would be to and I AM. 

I think Spiffy, Maxstud and Miss Jones would make great Indy Financial Advisor's.  I'm promoting the world of Independence at the expense of the GP's. 
 
The cut in payout would be all good if they would pony up for the toilet paper. 
Nov 27, 2007 2:16 pm

BSpears--getting the GP's to roll out TP on EJ would be OK if the FA would take a cut in pay!

 
Sorry I had to do it!