Mild Winter

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Dec 18, 2007 11:19 am

Great news Jones employees....... the national weather service has issued a mild winter with very little snow and and NASA said that the satelite that you rely on is not going to come back into the atomosphere and burn up again. Your $1300 per month is being well spent. Make sure you get your 25 contacts in before we get a surprise snow or the Chinese blow the satelite out of the sky.

Dec 18, 2007 11:51 am
outofjail:

Great news Jones employees....... the national weather service has issued a mild winter with very little snow and and NASA said that the satelite that you rely on is not going to come back into the atomosphere and burn up again. Your $1300 per month is being well spent. Make sure you get your 25 contacts in before we get a surprise snow or the Chinese blow the satelite out of the sky.

 
For the record, this post shows how little this person knows about the changes made at Edward Jones in the last 24 months.
Dec 18, 2007 11:54 am

I've been gone from Jones to Indy for 8 months--you are way behind in your tech knowledge at Jones!

Dec 18, 2007 12:30 pm

 hey smartypants,still paying for the communication system?

Dec 18, 2007 12:33 pm

is it 35 contacts now or 40?It has been a few years.

Dec 18, 2007 12:48 pm
proudlp:
outofjail:

Great news Jones employees....... the national weather service has issued a mild winter with very little snow and and NASA said that the satelite that you rely on is not going to come back into the atomosphere and burn up again. Your $1300 per month is being well spent. Make sure you get your 25 contacts in before we get a surprise snow or the Chinese blow the satelite out of the sky.

 
For the record, this post shows how little this person knows about the changes made at Edward Jones in the last 24 months.
The only thing thats changed is that employees with a brain went independent and doubled their income....just wait for the next 24 moths 
Dec 18, 2007 1:29 pm

Hold on--I'm a Indy and I have to admit proudlp got the best of ya!  That means that proudlp can now moveup to proudindy--it does sound better--plus there is a hugh pay raise.

Dec 18, 2007 1:33 pm

I've been hearing that same thing for 5 years.  Seems like there's always a mass exodus of Jones guys to indy in the next 24 months.  What do you think is going to happen in the next 24 months that is so earthshattering that we're going to all go indy? 

 
Yes, we are still paying for the communications system.  But, I have better tools, a faster system, and I don't have to pay anything out of pocket for it.  You know how much I'd pay for a new computer, printer, monitor, server, etc if Jones wanted to replace it today?  Yep, $0.00.  Now, I'm not saying that I like the $1300 communications system charge, but I also spend ZERO time thinking about my computer system.  So, it's a tradeoff. 
 
And it's still 25. 
Dec 18, 2007 1:44 pm

Spiff, the best thing Jones could do is get rid of the P & L program altogether, get rid of the bonus program, go straight to a payout of 50% on all trades.  The P & L is bad for those in high rent areas or high utilities ect...

Dec 18, 2007 1:54 pm

You are correct.  I'll suggbox that to Jim Weddle.  We'll see what he has to say. 

Dec 18, 2007 1:57 pm

[quote=Spaceman Spiff]I've been hearing that same thing for 5 years.  Seems like there's always a mass exodus of Jones guys to indy in the next 24 months.  What do you think is going to happen in the next 24 months that is so earthshattering that we're going to all go indy? 

 
Yes, we are still paying for the communications system.  But, I have better tools, a faster system, and I don't have to pay anything out of pocket for it.  You know how much I'd pay for a new computer, printer, monitor, server, etc if Jones wanted to replace it today?  Yep, $0.00.  Now, I'm not saying that I like the $1300 communications system charge, but I also spend ZERO time thinking about my computer system.  So, it's a tradeoff. 
 
And it's still 25. 
Lets see... a new computer, printer copier and fax machine. # months of $1300 would pay for that . Oh and did I mention its tax deductible? The reason you dont have to pay anything out of pocket is because all you have is lint and a few pennies. 1300 x 12 = 26000. you are stupid.
Dec 18, 2007 2:04 pm

Outofjail--like I said I'm Indy----but 1300 x 12 = $15,600, I wouldn't be calling someone stupid until you get that math down!

Dec 18, 2007 2:33 pm
Roadhard:

Spiff, the best thing Jones could do is get rid of the P & L program altogether, get rid of the bonus program, go straight to a payout of 50% on all trades.  The P & L is bad for those in high rent areas or high utilities ect...

 
Actually, that would penalize the higher producing vets and reward the rookies and lackies. 
Dec 19, 2007 12:24 pm
Spaceman Spiff:

I've been hearing that same thing for 5 years.  Seems like there's always a mass exodus of Jones guys to indy in the next 24 months.  What do you think is going to happen in the next 24 months that is so earthshattering that we're going to all go indy? 

 
Yes, we are still paying for the communications system.  But, I have better tools, a faster system, and I don't have to pay anything out of pocket for it.  You know how much I'd pay for a new computer, printer, monitor, server, etc if Jones wanted to replace it today?  Yep, $0.00.  Now, I'm not saying that I like the $1300 communications system charge, but I also spend ZERO time thinking about my computer system.  So, it's a tradeoff. 
 
And it's still 25. 
 
This sounds like a response right from the Weddle himself.  How much time do you really think I spend thinking about technology (answer: about an hour a month and that is deciding whether I need a tax break for the year).  The best part is that my communication bill is only $65 a month for service that doesn't bankrupt durring a thunderstorm (My mentor when I was at Jones told me that when the computer goes down, that was a great time to put on the overshoes and doorknock; how I miss stupid statements that I should be doorknocking in a downpour).
 
I don't care what spiffy says, technology at Jones is their largest weakness from an IR standpoint.  I currently pay less than 15% of what Jones brokers are charged on their "P&L" and for better systems and programs, the only thing I don't have is real time quotes which really aren't an integral part of my book of business anyway.  Give me cash in hand any day of the week over hoping to overcome $1300 for a small bonus.  I can find a lot of things to do with $1300 every month.
Dec 19, 2007 4:19 pm

I'm just saying that branches are now on the GBN, so let it snow, sleet and rain, it won't affect trading systems. 

I would be willing to bet that there have been over a dozen MAJOR enhancements to my system in the last 24 months...It has been almost too much to keep up with.

The technology at Jones was no doubt behind the curve...I gladly admit it, but the changes that have been and are happening are amazing and anyone away for more than 24 months simply wouldn't be in a place to speak about Jones technology.

Dec 19, 2007 4:42 pm
proudlp:

I'm just saying that branches are now on the GBN, so let it snow, sleet and rain, it won't affect trading systems. 

I would be willing to bet that there have been over a dozen MAJOR enhancements to my system in the last 24 months...It has been almost too much to keep up with.

The technology at Jones was no doubt behind the curve...I gladly admit it, but the changes that have been and are happening are amazing and anyone away for more than 24 months simply wouldn't be in a place to speak about Jones technology.

unfortunately you lost too many good irs that went to firms with great technology and you are still playing catch up. 
 
the same is happening with fee based.
 
and you still have the green dos screens....when will they go away
 
Dec 19, 2007 5:45 pm

The only thing we really use the green screens for these days is to place trades and to get messages back and forth from the home office.  It's not as big a deal as you make it out to be. 

 
None of the people I know that left Jones did so because of technology.  Technology is a tool to make a business run smoother.  It doesn't make money for anyone.  Fee based, maybe.  Grass is greener, blah blah blah.  Most guys who leave Jones, or any other major brokerage firm, do so for cold hard cash.  The big paychecks recruiters get to dangle and the perceived freedom and bigger payouts of indy world are what make most brokers jump anywhere. 
 
Feel free to tell me where I'm wrong.  But, do me a favor and tell me more than just "nuh uh, you're wrong."  Tell me what I'm missing with technology at Jones.  I think I have everything I need to help make my clients successful.  I'll make a preemptive strike and say that I would like to have a Monte Carlo tool.  But, I've been told that's coming right after the first of the year.  
Dec 19, 2007 5:58 pm
Spaceman Spiff:

The only thing we really use the green screens for these days is to place trades and to get messages back and forth from the home office.  It's not as big a deal as you make it out to be. 

 
None of the people I know that left Jones did so because of technology.  Technology is a tool to make a business run smoother.  It doesn't make money for anyone.  Fee based, maybe.  Grass is greener, blah blah blah.  Most guys who leave Jones, or any other major brokerage firm, do so for cold hard cash.  The big paychecks recruiters get to dangle and the perceived freedom and bigger payouts of indy world are what make most brokers jump anywhere. 
 
Feel free to tell me where I'm wrong.  But, do me a favor and tell me more than just "nuh uh, you're wrong."  Tell me what I'm missing with technology at Jones.  I think I have everything I need to help make my clients successful.  I'll make a preemptive strike and say that I would like to have a Monte Carlo tool.  But, I've been told that's coming right after the first of the year.  



Oppenheimer has a Monte Carlo tool on their website if Jones will let you use it...

Dec 19, 2007 6:16 pm

I can make multiple trades (buys/sells) with multiple discreationary accounts with a few clicks. I know an EJ rep can't do that.

 
EZ$
ex-jones ir
Dec 19, 2007 8:12 pm
Spaceman Spiff:

The only thing we really use the green screens for these days is to place trades and to get messages back and forth from the home office.  It's not as big a deal as you make it out to be. 

 
None of the people I know that left Jones did so because of technology.  Technology is a tool to make a business run smoother.  It doesn't make money for anyone.  Fee based, maybe.  Grass is greener, blah blah blah.  Most guys who leave Jones, or any other major brokerage firm, do so for cold hard cash.  The big paychecks recruiters get to dangle and the perceived freedom and bigger payouts of indy world are what make most brokers jump anywhere. 
 
Feel free to tell me where I'm wrong.  But, do me a favor and tell me more than just "nuh uh, you're wrong."  Tell me what I'm missing with technology at Jones.  I think I have everything I need to help make my clients successful.  I'll make a preemptive strike and say that I would like to have a Monte Carlo tool.  But, I've been told that's coming right after the first of the year.  
 
SpaceMan Spiff,
 
I on the other hand I do know on many that left due to tech issues.
 
Technology is used to have business run efficiently (read profitably) and without major interuptions (like when the satellite went bye-bye around Thanksgiving '04).
 
Whenever the system went down phone expense went up with no rebate for tech.
Snow, rain, thunder/ligtning, tornadoes  and that was for St. Louis.  Never mind what occurred locally. Heaven forbid if you lived in Pacific Northwest or where hurricanes roam.
 
Having to mail, hand deliver or fax mutual fund or investment reports when other firms could email, talk about an additional expense AND waste of time. When dealing with prospective clients in high tech companies with Blackberries and WiFi being the norm we were still using Applix and HiFi and having to covert spreadsheets so the outside world could use Excel.
 
As for indy world higher payout is the factor but that does not come immediately, getting up and running on "current" technology sure makes it easier to leave.
 
And if tech was not an issue why did Rich Malone leave so quickly and now new technology updates coming in as quickly as it is.
 
Plus what would you need with a Monte Carlo simulation program you have the preferred funds?  First of year I'll assume that's your joke for the day.