JonesIR - keep talking because you continue to show how stupid you are.  Indy's have less resources>>>>>>ah what regional meeting did you hear that at? 

I said this a dozen times and will say it again....I learned more in 3 days at the first national conference I attended with LPL than I did in 5 years at Jones.  It was the eye opener of a lifetime to see that a firm that pays out at 90% offers so much more than the mighty Jones.  From technology, service, resources and product - your cookie cutter chop shop is an embarrassment compared to it.

[quote=JonesIR]

Jones folk are kinda different in regards to the pride they have in how they do what is best for the client.  Strange in this dirty industry isn't it? 

We know we do it right...lots of the other firms preach (push)annuities, wrap accounts, market timing/churning.  We preach annuities w/out surrender fees and half the expenses to the client.  Pays us less money, but better for the customer.  Hmmm....  No fee based accounts just buy your mutual funds with A share expenses and hold for 20 years.  Hmmm...do the math on A share versus fee based account over 20 years and see which comes out better for the client.  Math doesn't lie if you don't believe me.  Check the SEC website for a mutual fund cost calculator.  I got to figuring what I needed in C shares or a wrap account versus having a book of A shares.  Wrap fee broker or annuity broker gets just as much in trails from $20M under management as someone that had $80M in A share funds.  Strange huh.  Is that best for the client or the broker?  My thoughts are that there are so many people on here that leave Jones in the first few years to go somewhere else because they can't hack it the ethical way.  The "say" they make more money at the new firm.  But it is strange the payout portion is much the same.  Hmm...  If they make more money it is usually because they do things the easier less client friendly way by selling things that pay themselves more money. Annuities, wraps, and market timing (churning) They get on here and bash the firm.   I think the Jones guys and gals are just proud that they have been able to build a sound ethical business the client friendly way.  Yep, there are other firms with brokers/advisors that do it the "right way" for the client but not may other firms that structure their business model the "right way" for the client.  I think the Jones folk are just taking up for themselves and the ethical businesses that most Jones folks have built.

[/quote]

jonesir,

how many of your clients have owned A share funds for 20yrs?

how "ethical" are those 30yr bonds right now?

has it ever occured to you that there are more asset classes than the 5 displayed on "portfolio"? You don't think I have tools, as an independent, that compete with that thing?

does the concept of you get what you pay for mean anything to you? while you are stuck perpetually prospecting, collecting your 25pb trail, what kind of time do you spend delivering the "service" you promised with that A share load?

So it is not just me who thinks your a moron…

[quote=JonesIR]

You guys make some interesting points.  I guess some of you have more tools than most people give you credit for.  Any advice how I can convince my clients to move their funds into one of the glamorous wrap accounts and pay 4 times more money for their funds? 

By the way did you catch the latest Registered Rep Ranking of the firms that just came out again? I believe that is 13 years in a row at #1. 

[/quote]

Obviously you neither know how to convince them, nor how to propertly invest their money when offered the opportunity to use more than one fund company and *gasp* no load funds!

So....you deserve to be paid about 80% less, and with a substantially smaller payout.

You're so ignorant and fooled by the holier than thou b.s. I almost feel sorry for you. 

[quote=csmelnix]

With all the former Jones reps out there, I am curious to hear what caused you to poke your head out and take a look at your options?  My story was funny looking back on it and I know it'll draw the is it only about the money thoughts but it was good. 
At a regional meeting, our regional leader was in front of the group jumping up in down (literally) with excitement about the growth of his business.  Mind you that he had been with Jones for 13 years, was if I recall the first Jones advisor in this area (a pretty large metro city in the NEast).  He went on to tell us how proud he was to be able to walk through his door every Jan 1st  after 13 years of building his business, knowing he would GROSS $70,000 every year from his mutual fund trails. 

My eye opener - I just couldn't imagine knocking on doors or cold calling for several years only to have $30 million in mutual fund assets pay ME about $27,000.  My time, my effort and the value I would bring to the table just deserved more.

Share your stories, I'm curious.

[/quote]

Are any PASSers in the forum?  We had 2 offices come open in the surrounding towns, the 1st one (became a GP in St Lois) had 80-90 mil (This office had 2 other offices close by which were both goodknight's of the big office) They gave it all to the Passer from a different state.

The 2nd had about 12 million but 5 IRS had lost there middle income jobs to give it a shot. The 2nd town also had an IR that was new/new and made it to seg 3 with about 7 million in assets (no help)  at the time. Jones closes the 2nd office gives him 2 million and splits the rest to 4 other surrounding IR's (all 3's & 4's up to 30 miles away).  It was a joke the new new deserved the hand out.

The Passer hangs on around a year, then went LPL!!  He takes 75 % of the book with him, it was soooo freaking funny.

Now the moral of this story is they had a wolf dressed as a sheep( #1 ir) and they sheered the producing new new (#2)

Now first thing I did was call the wolf, he knew something I didn't know. 

[quote=canucklehead]

Or maybe it was the regional meeting where we all played "Edward Jones Jeopardy", and were programmed with the rewritten history of the firm. I assume that the current version of the game has no category "$75 million".

[/quote]

I know this is old, but I saw this thread and am enjoying reading through it.    This one was a real LOL. 

 Who dug up this grave?

[quote=Beagle] I learned in college that if meetings revolve around how much money you "could" be making, it probably wasn't YOU that was going to be making it, it was the people giving the speech.
[/quote]

Thanks for bringing back this thread. I don't know where Beagle is now, but that's a great thought.

And yeah, we played Edward Jones Jeopardy and Edward Jones Deal or No Deal. AND we had Green Eggs and Ham read to us. And yes, Bartow is a dork. I'm guessing he got beat up a lot as a child. My favorite Bartow quote - "Donuts are poison!"

I remember having lunch with Doug "3 mil" Hill in the EDJ cafeteria in St. Louis.  He was so pre-occupied and I realized then that there was no way I was going to be with this firm long-term.

2nd)  I was having breakfast with John Bachman (Former CEO) and I asked him if he thought the Managed Account Program at Jones was going to take off.  He said point blank, "If you plan on building a fee-based business at Jones, you may as well leave tommorow.  We don't believe that fee-based businesses are in the best interest of the client."  I immediately knew that it was time to look elsewhere!

[quote=Roadhard] Who dug up this grave?[/quote]



Seriously, is there not enough heaping on EDJ without bringing up ancient threads.?

[quote=AllREIT] [quote=Roadhard] Who dug up this grave?[/quote]

Seriously, is there not enough heaping on EDJ without bringing up ancient threads.?


[/quote]

"Who dug up this grave?" Obviously, I did Roadhard. You do understand dates and time logs?  "Isn't there enough heaping on EDJ?"  I say no.

Look at the title of the post. It is not a question about a fund, A shares, or who trains the best. I used the search function, which many say use. This post caught my eye, so you see my response to the question.

These are true responses, "the reality" of our past experiences. Since, there are hundreds being recruited monthly, therefore that means hundreds are leaving monthly. Many are moving on involuntarily and many successful enough to move to other firms or go Indy. 

Many are reading this board in silence, they come from non-correlated careers. They sit in their branch wondering, "who can I talk with, something is just not right, really wtf is this P&L?" Many are content and happy where they are at this point in life.

This may become the must read post for those sitting in silence. These are true experiences that I for one do not want to be my "Hypo". And as many of the ones in silence and the ex-ers are sitting back either crying or laughing. Thinking how it not only happened in my region, but that region in California, North Carolina or Texas, too!

The truth will always find its way out. What you take from it is your decision.

[quote=JonesIR]

You guys make some interesting points.  I guess some of you have more tools than most people give you credit for.  Any advice how I can convince my clients to move their funds into one of the glamorous wrap accounts and pay 4 times more money for their funds? 

By the way did you catch the latest Registered Rep Ranking of the firms that just came out again? I believe that is 13 years in a row at #1. 

[/quote]

Resurecting a dead thread...priceless.   By the way, with the new move to RIA or fee based at Jones since JonesIR wrote this, I'm curious too.  How is Jones recommending you do this eeeeviill deed?  Keep us updatded on the new koolaid flavor.

[quote=babbling looney]

Resurecting a dead thread...priceless.   By the way, with the new move to RIA or fee based at Jones since JonesIR wrote this, I'm curious too.  How is Jones recommending you do this eeeeviill deed?  Keep us updatded on the new koolaid flavor.

[/quote]

No recommendations as of yet, still many months if not years away from this actually happening.

I was looking up a friend, who is still at Jones, on the Jones website, and I noticed that IR’s are now called “Financial Advisors.”  Is this what the new cards say?  If so, I would love to have some of those sugg box wires explaining why Investment Representative is a good title.

Yup, that’s what the new cards and all internal and external docs say including the name on my door.  (Well haven’t actually gotten to that yet.)

Thanks.

[quote=gad12] [quote=babbling looney]

Resurecting a dead thread…priceless. By the way, with the new move

to RIA or fee based at Jones since JonesIR wrote this, I’m curious too.

How is Jones recommending you do this eeeeviill deed? Keep us

updatded on the new koolaid flavor.

[/quote]

No recommendations as of yet, still many months if not years away

from this actually happening.

"Actually, it's closer than you might think. In Weddle's last firm broadcast, he explicitly stated that clients are demanding advisory services, and that it is something they are rolling out. In my opinion, Weddle seems to be rolling out what he talks about much quicker than previous Chiefs. I may be wrong, but the last 18 months has shown tremendous progress."

Broker24, you and I have a lot in common. Perhaps we could have a suggestion box wire party, where we drink kool-aide and compete to see who can write the most obsequious "Weddle's Corner" wire. I bet I can out-praise Edward Jones.

 I hear all this Weddle crap from my buddies still at edj-How things have changed.Tell us all 3 things that have changed in the last 2 years? Not talked about but changed. SPIFFY OR BROKER 24 

Weddles pay has went up…has more cars in the garage…#of preferreds have went up…new news have went up…strength of the koolaid is going up(just for precautions)