Left jones....update

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Nov 2, 2005 10:49 pm

It was two weeks ago that I left Jones after two years.....and It was two weeks ago that I began my career as an Advisor. 


I feel like I have been let out of Jail...I have signed ACATS on 78% of my clients already, and appointments the next ten day with another 15%.  Been stressful and tough...seeing 8 -10 clients a day, and going to all their homes and businesses to make it easy. The others...well, i dont really care if I dont bring over the 25 year old realtor with $2500 in a SEP...and "Feels really comfortable(uses fingers to do quotes in the air...AKA Chris Farley style on the Saturday Night Live news)" with Jones...and "Isnt sure she wants to leave", because Jones has been "Good to her" the last 14 months.


I love showing "Institutional Investors" top 500 Largest asset managers in the world to clients...


ME: see Mr. Client, here we are at the top...#1, worlds largest asset manager, and worlds largest private bank....yep, thats 1.95 trillion, nearly 2 trillion in assets" 


Client: "ummm, where is Jones?


Me:...Jones isnt on the list......


Client:


If any Jones guys want to know why I made the move, just email me........oh, yeah.....due to compliance reasons and the BLAH BLAH BLAH....the GP's dont want to pay for the technology required to Database the emails...or pay for health insurance....or postage....or marketing materials....or Starting salaries.....I could go on forever....but you cant email me!  Think it doesnt matter to clients? I have had clients who the first words out of their mouths was: "Does this mean you will email now?" and when I say yes, they ask..."where do I sign?"


LEAVE JONES NOW...LEAVE JONES NOW...LEAVE JONES NOW....LEAVE JONES NOW...I dont care where you go, if you are going to make it in this business, you can & will do it elsewhere.  If you are qualified enough to make it, ML, SSB, UBS, or some other top tier firm will take a serious look at you. If you are doing north of 300k, and you are still there....well you are either Naive, stupid, or you belong there.  I couldnt take it anymore, God Bless Zacko and his 8 years, and others that go 5 or more.  I know that nowhere is perfect but, dear god, it is better for me now than at Jones.


People that buy the Jones crap, and have never been at Jones, misunderstand and cant relate to the violated, raped, taken advantage of feeling that you get when you finally connect the dots and realize what is truly going on there. Please dont try to convince me that I didnt understand...if that is your thinking...then I submit that you dont understand.


I will post more later...back to ACATS....


Thanks for the support gang!

Nov 2, 2005 11:38 pm

hmmm 8-10 Clients a day=78%? Pretty small book. Have fun.

Nov 2, 2005 11:40 pm

I meant to add, in only 2 weeks. 14 days x 10 clients per day = 140 clients..Awefully small book. Good thing you didn't go indy. So what did you really gain at another firm? Oh yeah, I forgot, you understand.

Nov 2, 2005 11:52 pm

He gained his freedom and self-respect, Kool-Aid drinker.

Nov 3, 2005 12:05 am

Ah, thanks. I forgot. But, I thought the only TRUE FREEDOM was indy?

Nov 3, 2005 12:07 am

Guest 1,


OMG...you moron. You are the reason I left - I bet you have a degree in horticulture or an associates in English literature or some crap. Whover said I had a HUGE BOOK...  I moved my family 2500 miles to an unknown town in order to have the lifestyle we wanted when I started with Jones.  Didnt know a soul...built it from scratch not knowing anyone..in 18 months built it to 6mill, and yeah, I had 118 households, and I am taking about 100 of them.  But now my skills are catching up with me and averaging 700k in net new assets a month for the last 6 months. This isnt about a huge book move...its about going to where I can build a business.  I am so glad I am not going to be supporting your lousy LP...the firm I am now with has been one of the best performing Financial services stock for the last 30 years. 


Again.. to all the folks that do get it....thanks for the support.

Nov 3, 2005 12:10 am

Guest1,


Why are you so venomous about me leaving?  Is it because you waited too long and now are trapped and cant leave? Hmmm, odd....

Nov 3, 2005 12:13 am

Trapped? Hardly. Sorry if I seemed venomous, just had to poke fun. I really doubt you have or will get 78% but this board is a great place to boast. no one knows!

Nov 3, 2005 12:40 am

You found me out...I have actually kept 3%, and that is my mommy's acct.  The rest said they invested because of Jones and not because of me.  They said no matter who came in my place ( in this case someone 10 days out of eval/grad) they would stick it out because Jones is what they trust..not me.  They said they would rather stay with the  gal who was a loan processor for a title company, than move with the guy with the finance degree (4.00gpa...but you never know on this board) and the MBA


If you enjoy jones....great more power to you....someone has to work there, and train the guy that used to drive a beer truck...i guess. See, the difference is...unlike you, there are other people on this board that have moved, and they know that this is a relationship business, not a "firm" business.  And they too have experienced..."you have email, where do I sign?".  If you arent comfortable with the fact that if you moved you would keep 80%+ of your book, you arent doing your job.  Of course, when you have 2000 clients and have to bring in 8 million a year in new money just to make 150k 15 years in....I would be a little worried too.


It's laughable, you do all this math to figure out if I am telling the truth in my post, but you cant do the math on going indy in your situation...since you are such a big producer.   I didnt post that for people at Jones that love it to second guess me, I did it to push the people on the edge over it.

Nov 3, 2005 12:45 am

Wow, issues here. Have a nice time.

Nov 3, 2005 7:43 am

Guest1,


I believe us 'darke siders' realize who has the issues with that powerful narcotic 'koolaid'.   G1 look in the mirror for your answer.

Nov 3, 2005 9:46 am
ctlatinger:

  If you arent comfortable with the fact that if you moved you would keep 80%+ of your book, you arent doing your job. 





Amen, brother!


Nov 3, 2005 10:37 am

Can anyone say un-professional???


I am not a jones guy, and therefore have no opinion on the firm, the only thing that I do know is that in my area they do a fine job for the most part.


Have some common decency and leave the bashing to yourself. One thing I will say though is you ex-jones guy obviously have no respect for your previous employer. Isn't kinda rule of thumb not to bash your past employers...didn't you learn that in ethics?


Bottom line, Move on your not at jones anymore so why do all of you always talk about it still?  Must be thinking about going back?

Nov 3, 2005 12:02 pm

Oh Im sorry.  Youre right liquidasset.  We shouldn't bash EDJ.  Ahhh, hang on bozo but speaking for myself I never left with the intentions of bashing them.  To the contrary, I even sent letters to all the members of a new hire training class I was in the middle of in St Louis telling them EDJ was a great company and don't be concerned that I was leaving because it was just the direction of my business that required me to leave.  I sent freaking thank you notes to people who had helped me through the years.  I praised the company!  I thought nothing but good of that company as I was leaving. 


Well what a fool I was!!!! So what they did once a GPs relative decided to take over my office was to lie and misrepresent my actions to my clients and take me to court "literally put up on the witness stand to be cross examined,"   The misrepresentations to my clients and outright lies were beyond belief and any decorm of ethics.  ANd the GP flew in from out of state to come to my office to help spearhead the lies and misrepresentations.  This by the way is a very well know GP that EDJ guys would recogninze the name of.


So, liquid, lets talk about unprofessional.  EDJ is the most unprofessional, hack, lowbrow company I have ever been associated with.  I love kicking their ass now in so many many ways. 

Nov 3, 2005 12:05 pm

Oh yea, and then there was the former regional leader/GP who actually tried to lure my BOA that I took with me back to him with large incentives offered if she could bring back MY clients to him!  The BOA still works for me but this actually happened.


Oh yea, lets talk unprofessional.      

Nov 3, 2005 12:17 pm

 Malcolm,


( So, liquid, lets talk about unprofessional.  EDJ is the most unprofessional, hack, lowbrow company I have ever been associated with.  I love kicking their ass now in so many many ways. )


Thank's that sums it up for me....


I hear of stories like that everywhere...nature of the beast. If your happy now then so be it. Good for you.

Nov 3, 2005 12:45 pm

liquidassets,


In one form or another the majority of us 'darksiders' have been treated with the same unprofessionalism that Malcolm has mentioned.  This is EJ's MO for dealing with ex-employees (brokers, BOAs and even HO staff). 

Nov 3, 2005 1:56 pm
Guest1:

Ah, thanks. I forgot. But, I thought the only TRUE FREEDOM was indy?


ctlatinger stated that "I feel like I have been let out of Jail".  So apparently you don't have to go indy to feel good about leaving Jones.


Yes, guest, the only true freedom is being indy, but not everyone needs that much freedom to feel good about themselves.  I don't have any statistics about brokers going indy, but then going back to a captive situation, but I can't imagine it's a large persentage, especially if one is successful as an indy.


BTW, how many ex-jonsers come back?  I can't imagine that's a big number either.

Nov 4, 2005 12:01 am

CTLatinger,


     Someone has to make you face the truth, so it might as well be me.  6 million assets in 18 months is a joke.  Funny how right after your base salary ends, you jump ship.  H & R Block gave you 10 branches to bounce around to, and you took the gig.  I can appreciate the fact that after your first year it gets tough financially, but the fact you can't hack it is quite transparent.


     I see this happen all the time, and let me guess what you told your mom and dad, sister, neighbors, and people you know.  Tell me how close I hit home, because I KNOW FOR A FACT this is the type of person you are.  "EDJ did some things that I couldn't get behind morally", "I was picked on by management", "EDJ's compliance department did some shady things" etc., etc., etc.  What you don't have the balls to face is your own failure.  Go look in a mirror each morning and continue to lie to yourself, I hope it's worth it.


     We don't always do a good job screening applicants, and future Credit Union and Bank brokers occationally slip through.  Take responsibility for your own actions (or inaction) and quit bashing.  The truth hurts, but like I said, I bet I hit the nail on the head.

Nov 4, 2005 12:08 am

OUCH!