Moving to Chicago, have some questions

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Dec 18, 2006 10:36 pm

I'm  currently a Seg 3 EJ  IR,  selling  36 months,  30 years old.  What are my job prospects in Chicago, preferably downtown?  Obviously I've been recruited so I know the story elsewhere, but more specifically if I wanted to get out of the selling side, what are my options?  Does anybody know?

 Do I have enough work experience to be taken seriously as a consultant in the field, institutional, etc?


Dec 20, 2006 3:36 pm

JohnDoe,



If you are in Chicago you should be looking at Northern Trust Global Investments. They manage probably twice as much as EDJ manages and it's nearly all institutional.  There are tons of investment opportunities in Chicago (NTGI, Citadel hedge fund, +many others) Chicago doesn't have as many opportunities as NY they're definitely have enough.

Dec 20, 2006 9:18 pm
JohnDoe:

I'm  currently a Seg 3 EJ  IR,  selling  36 months,  30 years old.  What are my job prospects in Chicago, preferably downtown?  Obviously I've been recruited so I know the story elsewhere, but more specifically if I wanted to get out of the selling side, what are my options?  Does anybody know?

 Do I have enough work experience to be taken seriously as a consultant in the field, institutional, etc?



You could work in the gift shop in the observation deck of the Hancock Center. I shoplifted an ash tray from there when I was a kid.

Dec 20, 2006 10:03 pm
My Inner Child:

[quote=JohnDoe]I'm  currently a Seg 3 EJ  IR,  selling  36 months,  30 years old.  What are my job prospects in Chicago, preferably downtown?  Obviously I've been recruited so I know the story elsewhere, but more specifically if I wanted to get out of the selling side, what are my options?  Does anybody know?

 Do I have enough work experience to be taken seriously as a consultant in the field, institutional, etc?


[/quote]


You could work in the gift shop in the observation deck of the Hancock Center. I shoplifted an ash tray from there when I was a kid.






inappropriate, and totally funny!

Dec 20, 2006 11:08 pm
johnson:

JohnDoe,



If you are in Chicago you should be looking at Northern Trust Global Investments. They manage probably twice as much as EDJ manages and it's nearly all institutional.  There are tons of investment opportunities in Chicago (NTGI, Citadel hedge fund, +many others) Chicago doesn't have as many opportunities as NY they're definitely have enough.

I would enjoy the institutional side.  I'm very analytical and hate pushing product to people, especially people that just want a nice tax-free municipal bind they can stick under their pillow.  Thanks for the tips, I'll look into it.




Dec 21, 2006 9:02 am

I think that's the first time I've ever heard Northern Trust and EDJ mentioned in the same sentence.

Dec 21, 2006 6:32 pm
BrokerRecruit:

I think that's the first time I've ever heard Northern Trust and EDJ mentioned in the same sentence.



I've never even heard "Trust" and EDJ in the same sentence.

Dec 21, 2006 9:11 pm
My Inner Child:
BrokerRecruit:

I think that's the first time I've ever heard Northern Trust and EDJ mentioned in the same sentence.


I've never even heard "Trust" and EDJ in the same sentence.

So you're either a bitter ex EJ employee, or an Indy that continues to lose business to a EJ broker in your town.

Either way, I've yet to see any firm out there take the steps EJ does as a firm, to do what's right for the client.

Dec 21, 2006 9:31 pm
JohnDoe:
My Inner Child:

[quote=BrokerRecruit]

I think that's the first time I've ever heard Northern Trust and EDJ

mentioned in the same sentence.





I've never even heard "Trust" and EDJ in the same sentence.

[/

QUOTE]So you're either a bitter ex EJ employee, or an Indy that continues

to lose business to a EJ broker in your town.Either way, I've yet to see any

firm out there take the steps EJ does as a firm, to do what's right for the

client.









Yeah, that must be it.

Dec 21, 2006 11:18 pm
mranonymous2u:

Help! Jane! Stop this crazy thing!


You can have TWO cookies!


Mr. A




No thanks, I'll take one, and 30 minutes on the treadmill, in hopes that I can still fit into my jeans on Jan 2, 2007.....

Dec 21, 2006 11:22 pm
JohnDoe:
My Inner Child:
BrokerRecruit:

I think that's the first time I've ever heard Northern Trust and EDJ mentioned in the same sentence.


I've never even heard "Trust" and EDJ in the same sentence.

So you're either a bitter ex EJ employee, or an Indy that continues to lose business to a EJ broker in your town.

Either way, I've yet to see any firm out there take the steps EJ does as a firm, to do what's right for the client.
 



Right man...you just keep telling yourself that and eventually it will seem soooooo real......

Dec 22, 2006 9:14 am
JohnDoe:
My Inner Child:
BrokerRecruit:

I think that's the first time I've ever heard Northern Trust and EDJ mentioned in the same sentence.



I've never even heard "Trust" and EDJ in the same sentence.


So you're either a bitter ex EJ employee, or an Indy that continues to lose business to a EJ broker in your town.

Either way, I've yet to see any firm out there take the steps EJ does as a firm, to do what's right for the client.
 


You're a cute kid.

Dec 22, 2006 9:34 am

So, JohnDoe, you're pretty much indicating that you've only worked for Jones.  What basis for comparison do you have?

Dec 22, 2006 10:32 am

Oh MAN!


He just openedup the Whupass!


John Doe,


Aren't you trying to LEAVE Jonestown? Why would you take the bug juice with you? "Wait! It's so fruity sweet and yet there's that bitter almondy taste in there too! One more swig please, please!"


Mr. A


Dec 22, 2006 9:01 pm
JohnDoe:
My Inner Child:
BrokerRecruit:

I think that's the first time I've ever heard Northern Trust and EDJ mentioned in the same sentence.



I've never even heard "Trust" and EDJ in the same sentence.


So you're either a bitter ex EJ employee, or an Indy that continues to lose business to a EJ broker in your town.

Either way, I've yet to see any firm out there take the steps EJ does as a firm, to do what's right for the client.
 


JD,


So could you explain to all the boys and girls how it was the clients best interest to have Mr. Hill resign (and pay back most of his income from a year ago), settle with the SEC and others for a "few million" and then do it all over again just the other month?


Yes I'm from the "dark side" and did learn a few things during my tenure at EJ....

Dec 24, 2006 12:27 am
BrokerRecruit:

So, JohnDoe, you're pretty much indicating that you've only worked for Jones.  What basis for comparison do you have?

Two words, B-share Annuity.  I'm very familiar with the tactics used at other firms.  I know there
are systems in place at other firms to keep brokers in line, and I also
know every firm has brokers that don't do what right for the client. 
I've just yet to see another firm take the steps necessary to curtail
b-share annuities.

Show me any example you can where a b-share annuity in excess of 100k makes sense for a client.  Yet I see 70 year old clients from all over with these things.  It's nauseating.

There's no point debating this topic.  Its simply an opinion. 


Dec 24, 2006 12:30 am
eddjones654:
JohnDoe:
My Inner Child:
BrokerRecruit:

I think that's the first time I've ever heard Northern Trust and EDJ mentioned in the same sentence.


I've never even heard "Trust" and EDJ in the same sentence.


So you're either a bitter ex EJ employee, or an Indy that continues to lose business to a EJ broker in your town.

Either way, I've yet to see any firm out there take the steps EJ does as a firm, to do what's right for the client.
 


JD,


So could you explain to all the boys and girls how it was the clients best interest to have Mr. Hill resign (and pay back most of his income from a year ago), settle with the SEC and others for a "few million" and then do it all over again just the other month?


Yes I'm from the "dark side" and did learn a few things during my tenure at EJ....

Do what over again?  Doug Hill got canned because he was the guy that actually set up the profit sharing deals with all the mutual fund companies in thefirst place.  It made for a news story because he was the managing partner when the sh*t hit the fan. 

If you are referring to revenue sharing, every other firm has the same system in place.  I have no idea how they disclose it to their clients.  Thats where the conflict came from.


Dec 24, 2006 12:35 am
mranonymous2u:

Oh MAN!


He just openedup the Whupass!


John Doe,


Aren't you trying to LEAVE Jonestown? Why would you take the bug juice with you? "Wait! It's so fruity sweet and yet there's that bitter almondy taste in there too! One more swig please, please!"


Mr. A


I don't hate the company.  If I could stay where I am, I would.  My wife is moving to Chicago for residency, I'm going with her, and I'm at the point that I don't have the patience to build a book from the ground up a second time. 




Dec 24, 2006 12:47 am
My Inner Child:
JohnDoe:
My Inner Child:
BrokerRecruit:

I think that's the first time I've ever heard Northern Trust and EDJ mentioned in the same sentence.


I've never even heard "Trust" and EDJ in the same sentence.


So you're either a bitter ex EJ employee, or an Indy that continues to lose business to a EJ broker in your town.

Either way, I've yet to see any firm out there take the steps EJ does as a firm, to do what's right for the client.
 


You're a cute kid.

http://www.edwardjones.com/cgi/getData.cgi?file=/pdf/registe red_020206.pdf

Thats a link for the RR overall report card.  If you scroll to the bottom, you'll see a category called ethics.  I see 2 names that stand out there for high marks.