My Jones rant

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Nov 11, 2009 9:40 am

http://registeredrep.com/advisorland/career/financerookie_survivors/









On this article they have a "Rookie" from Edward Jones who is a "survivor".  It says he started in July of 2007  "But today, after only 2 years in the business, he manages $40 million in assets for 375 families in and around Sparta, Illinois"
 
You tell me, anyone think that this guy built that business from the ground up? Anyone believe that he took over more than $40 million dollars?
 
The problem is not that this gentleman recieved the large excisting office. The problem is that they parade him around like he had the same opportunity as a new/new anyone who started at the same time. In fact he had a much easier road and without any assets starting in july of 2007 you would not have a chance to accumulate 40 million by now.
 
 
Nov 11, 2009 9:42 am

Have you not met Windy?



Nov 11, 2009 9:49 am

It's for recruiting purposes.  Who cares?

Nov 11, 2009 9:54 am
B24:

It's for recruiting purposes.  Who cares?



RealWorld does. He is a piker that has a preoccupation with people that take over assets. He would rather whine and cry about what other people have been given than build his own.
 
Keep sulking RW, that definitely adds to your AUM.
Nov 11, 2009 10:02 am

Seriously, I don't understand everyone's preoccupation with Jones and who takes over assets and how.  I know, I know, "they parade them around like mesiah's".  Whatever.  Just get the job done and it won't matter.  If you need a pat on the back, buy a cat.

Nov 11, 2009 10:37 am
B24:

Seriously, I don't understand everyone's preoccupation with Jones and who takes over assets and how.  I know, I know, "they parade them around like mesiah's".  Whatever.  Just get the job done and it won't matter.  If you need a pat on the back, buy a cat.

 
Most guys who own cats take it from the back, but that is probably another thread.
Volt - that one is for you!
Nov 11, 2009 12:39 pm

Whatever - if you don't see a problem with this than you never built your business.


It is the same reason that people are mad Bonds juiced. If he would have hit 700 HRs clean no one would be mad. If he would just fess up and say that he juiced and that is the reason he hit so many HRs some people would be OK with it. But what really pisses people off is that he did juice and he acts like he hit all his HRs clean.
 
Kinda like patting some dude on the bat for starting in a horrible market. Acting like he built up his book and patting him on the back. In reality this guy's situation is like 5% of all the advisors out there. In no way does it remotely resemble 70% of new edward jones advisors.
 
No problem that he got the assets. PROBLEM is that the parade him around like he started fresh.
 
B24 - The reason that it is a problem is that it is not just for PR or recruiting. This is the same thing that happens at each regional meeting and in our compensation as well.
Nov 11, 2009 12:41 pm

If it bother's you that much, please quit. 

I did.  I feel a lot better now.

Nov 11, 2009 12:45 pm

Morean- I know some guys who have because of it. I think I can deal with it but I will deal with it vocally.

Nov 11, 2009 12:51 pm
RealWorld:

Whatever - if you don't see a problem with this than you never built your business.


It is the same reason that people are mad Bonds juiced. If he would have hit 700 HRs clean no one would be mad. If he would just fess up and say that he juiced and that is the reason he hit so many HRs some people would be OK with it. But what really pisses people off is that he did juice and he acts like he hit all his HRs clean.
 
Kinda like patting some dude on the bat for starting in a horrible market. Acting like he built up his book and patting him on the back. In reality this guy's situation is like 5% of all the advisors out there. In no way does it remotely resemble 70% of new edward jones advisors.
 
No problem that he got the assets. PROBLEM is that the parade him around like he started fresh.
 
B24 - The reason that it is a problem is that it is not just for PR or recruiting. This is the same thing that happens at each regional meeting and in our compensation as well.
 
First before I start, I did a small GK that ended up to be half of what I was given by the time the market got done with it...so there are many people that started way ahead of me as far as being given assets etc...I don't begrudge anyone for getting lucky, or being handed books of business...because it doesn't effect me in the least.  NO PLACE in that article did it say he started from scratch...your Bonds analogy is horrible, because Barry did something illegal, while the gentleman in the article did absolutely nothing wrong.
 
However, I do see situations, in my region and others, where they taut some new advisor that is killing it because they inherited a non-competative office...that bugs me a little, but at the end of the day it truly doesn't keep me from succeeding!
 
 
 
Nov 11, 2009 12:58 pm
Four Points:
 
1 - Your "jones rant" has already occurred on another thread
2 - Does it effect your business? If not, who cares.
3 - I'd be willing to take an office in a heart beat, so would you.  Stop whining hypocrite.
4 - Ron = Gay in kurdish
 
 
Nov 11, 2009 1:15 pm
RealWorld:

 In reality this guy's situation is like 5% of all the advisors out there. In no way does it remotely resemble 70% of new edward jones advisors.



 
Thats only 75%.
 
Not to worry though RW. You may be at a disadvantage but all you have to do is call Ron and he will show you how he prospects. He ropes in TONS!!!! If he can get just 1 prospect a day to step into his "office" his day is complete and the reward to him is phenomenal! It's almost religious! A happiness only a preist could understand. Now keep in mind, he may not make much money but he'll teach you all you need to know about handing candy out to strange little children.
Nov 11, 2009 1:15 pm
RealWorld:

Whatever - if you don't see a problem with this than you never built your business.


It is the same reason that people are mad Bonds juiced. If he would have hit 700 HRs clean no one would be mad. If he would just fess up and say that he juiced and that is the reason he hit so many HRs some people would be OK with it. But what really pisses people off is that he did juice and he acts like he hit all his HRs clean.
 
Kinda like patting some dude on the bat for starting in a horrible market. Acting like he built up his book and patting him on the back. In reality this guy's situation is like 5% of all the advisors out there. In no way does it remotely resemble 70% of new edward jones advisors.
 
No problem that he got the assets. PROBLEM is that the parade him around like he started fresh.
 
B24 - The reason that it is a problem is that it is not just for PR or recruiting. This is the same thing that happens at each regional meeting and in our compensation as well.
 
OK.
 
Sooooo, you're just gonna keep whining like a b!tch?
 
"Whatever - if you don't see a problem with this than you never built your business."
How's that?  So because I HAVE built my business, then I SHOULD have a problem with it?  I don't follow your sorry-a$$ thinking.
Nov 11, 2009 1:18 pm
B24:
RealWorld:

Whatever - if you don't see a problem with this than you never built your business.


It is the same reason that people are mad Bonds juiced. If he would have hit 700 HRs clean no one would be mad. If he would just fess up and say that he juiced and that is the reason he hit so many HRs some people would be OK with it. But what really pisses people off is that he did juice and he acts like he hit all his HRs clean.
 
Kinda like patting some dude on the bat for starting in a horrible market. Acting like he built up his book and patting him on the back. In reality this guy's situation is like 5% of all the advisors out there. In no way does it remotely resemble 70% of new edward jones advisors.
 
No problem that he got the assets. PROBLEM is that the parade him around like he started fresh.
 
B24 - The reason that it is a problem is that it is not just for PR or recruiting. This is the same thing that happens at each regional meeting and in our compensation as well.
 
OK.
 
Sooooo, you're just gonna keep whining like a b!tch?
 
"Whatever - if you don't see a problem with this than you never built your business."
How's that?  So because I HAVE built my business, then I SHOULD have a problem with it?  I don't follow your sorry-a$$ thinking.
 
Right, because your not a whiny piker. He is.
Nov 11, 2009 2:12 pm

My God - You guys get more guts on forums than a drunk at a bar. Simply discussing a relevant issue at the firm.

Nov 11, 2009 2:18 pm
RealWorld:

Whatever - if you don't see a problem with this than you never built your business.


It is the same reason that people are mad Bonds juiced. If he would have hit 700 HRs clean no one would be mad. If he would just fess up and say that he juiced and that is the reason he hit so many HRs some people would be OK with it. But what really pisses people off is that he did juice and he acts like he hit all his HRs clean.
 
Kinda like patting some dude on the bat for starting in a horrible market. Acting like he built up his book and patting him on the back. In reality this guy's situation is like 5% of all the advisors out there. In no way does it remotely resemble 70% of new edward jones advisors.
 
No problem that he got the assets. PROBLEM is that the parade him around like he started fresh.
 
B24 - The reason that it is a problem is that it is not just for PR or recruiting. This is the same thing that happens at each regional meeting and in our compensation as well.

 
One of my college roommate's dad was a $1,000,000 producer with Shearson Lehman back in the day.  After college, he joins his dad's office, and his dad gives him $20 million of his book because he's not talking to them.  So, first year in, the kid's doing $150,000 a year in commissions, in 1985..........is that unfair too??  :)
Nov 11, 2009 2:20 pm
RealWorld:

My God - You guys get more guts on forums than a drunk at a bar. Simply discussing a relevant issue at the firm.

 
You call it discussing, I call it whining. Half of your posts have to do with what someone else got and how people see them and what Jones does with them and blah blah blah. Nobody here cares about how sh*tty of a broker you are. You don't like it here? Stop posting here.
 
And so far as "guts" because it's a forum, I can confidently tell you that I censor my comments because this is a public board. If I saw you at a regional meeting and you said some of the stupid sh*t you say here, I would color the language up a bit for you.
Nov 11, 2009 2:22 pm
voltmoie:
Four Points:
 
1 - Your "jones rant" has already occurred on another thread
2 - Does it effect your business? If not, who cares.
3 - I'd be willing to take an office in a heart beat, so would you.  Stop whining hypocrite.
4 - Ron = Gay in kurdish
 
 
 
Oh, and this is comedy gold. How did everyone miss this?
Nov 11, 2009 2:29 pm
RealWorld:

My God - You guys get more guts on forums than a drunk at a bar. Simply discussing a relevant issue at the firm.

 
How is it an issue at the firm?  It's not an issue to me.  It's not an issue to the 65 other FAs in my region.  We couldn't care less what happens in Sparta, IL. 
 
This has always been and will always be a normal part of EDJ.  Get over it.
Nov 12, 2009 6:35 pm

I personally can not believe the backlash I get for posting this.


 
I guess most people who work at Jones and did not take over assets are actually working not posting.