I just don't get it?

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Dec 14, 2007 12:09 am

I've never written to this forum before but have read the messages for awhile and finally decided to say something.

 
It seems like there are many people that bash Edward Jones because they are no longer there. Many of you would have never been given the chance to be in this industry if it weren't for them giving you the training you received.
 
I think many of you can't accept the fact that you made a mistake leaving so you try to justify it to yourself by trying to convince others that Edward Jones is some how an inferior company. I am a guy that spent my first 12 years in the industry with AGE and Indy and have been a Jones for 7 years now and the only regret I have is that I didn't do it sooner. I work less, make more, have great benefits, a BOA that I love, and take two fantastic trips a year. I could not be happier than I am now. I know some of you will try to prove I am wrong and how much better you have it wherever you are but I've been there and know for a fact that Edward Jones is my last stop until I retire.
 
For those of you that feel different, that's fine but I  don't make a constant effort to discredit who you work for, so let it go and let's use this forum for the good that it could be.
Dec 14, 2007 12:20 am
Brian1960:

I've never written to this forum before but have read the messages for awhile and finally decided to say something.

 
It seems like there are many people that bash Edward Jones because they are no longer there. Many of you would have never been given the chance to be in this industry if it weren't for them giving you the training you received.
 
I think many of you can't accept the fact that you made a mistake leaving so you try to justify it to yourself by trying to convince others that Edward Jones is some how an inferior company. I am a guy that spent my first 12 years in the industry with AGE and Indy and have been a Jones for 7 years now and the only regret I have is that I didn't do it sooner. I work less, make more, have great benefits, a BOA that I love, and take two fantastic trips a year. I could not be happier than I am now. I know some of you will try to prove I am wrong and how much better you have it wherever you are but I've been there and know for a fact that Edward Jones is my last stop until I retire.
 
For those of you that feel different, that's fine but I  don't make a constant effort to discredit who you work for, so let it go and let's use this forum for the good that it could be.
I believe Jones depends on the region that you are in. If you are in a good region, very likely the experience to be positive. At AG Edwards the experience revolves around the BM. Many of the persons that had bad experiences with Jones and are bitter were in regions that struggled for leadership. It would seem to me that RL's should be chosen not on the basis of their GDC but rather on their ability to lead and encourage....
Dec 14, 2007 8:38 am

Hey Brian, thanks for your input.  Question, did you start new new or did you take over an office?

Dec 14, 2007 9:10 am

to each his own.

Dec 14, 2007 10:03 am

So your the one, the poster child---Jones said they had one!

Dec 14, 2007 12:39 pm

Brian,

    How about the guy I know that was a top-five producer at Jones and left 2 years ago to work at AG?  I guess each decides where they need to be.  As for me, in my first full calendar year away from the green slime, I've more than doubled my net, decreased my office expenses and won three great trips!!  Go figure that anyone could be happy about having left Jones.  I don't think you'll find anyone on this board who has left Jones that will say "I really screwed up by leaving." and not just because we can't admit it, but because it just ain't so!!!
Dec 14, 2007 1:34 pm

Man, Brian, do you always walk right up to that hornet's nest and smack it as hard as you can? 

 
Here's what I think, not that any of you care.  Jones is a great place compared to a lot of the other regional firms out there.  It's a great place compared to some of the wirehouses.  For some, indy world is better than either a wirehouse, regional firm, or Jones.  I think there are a few people who went indy and figured out that they liked working for Jones and miss some of the things we do and would probably go back if Jones would have them.  But, for the most part you guys went indy and are incredibly happy with your decision.  You probably never would have been completely happy anywhere except where you are right now.  
 
Brian, trust me.  You'll never get it.  I've asked the same question a dozen times and have never really received a good answer.  They will just keep coming back to the same old arguements about why they left Jones.  I think it's therapeutic for them to bash Jones.  And I think they enjoy it.  Some, like spears, like to have fun with it.  Others can be just plain mean sometimes.  Just so you know, they now think you are an idiot.  You have had too much of the kool aid.  You are a GP's puppet.  You get paid by home office to post here.  You can't think for yourself.  I'm sure I'm forgetting some. 
 
Welcome to the group.  I'm happy to see another pro-Jones guy posting here.   
Dec 14, 2007 1:59 pm

Welcome Brian--Kool aid kid, welcome to the woodshed!  Spiff> have a great weekend!

Dec 14, 2007 2:44 pm
bspears:

Hey Brian, thanks for your input.  Question, did you start new new or did you take over an office?

 
When I started at Jones I took over an office. It was a competetive situation but I wasn't worried about the assets I wanted the location. I think people put too much emphases on rather a person took over an office or came in as a new/new. We were all new/news somewhere. When I began I didn't even have any income gaurantees so I had to sell to eat so I served my time as a new/new even though it wasn't at E.J.
 
I really wasn't trying to start another controversy here and I know there are people that have left and are happy but I also know people at my old company that are happy when I wasn't. My point is I don't critisize them because I left and they still work there. We should all be happy to go to work in the morning and no matter where you are if you're not happy then you should leave. I've made 2 moves in my career and I am the happiest I have ever been and sleep better at night since I have been at Edward Jones.
Thanks and have a Merry Christmas!
 
Dec 14, 2007 2:50 pm

I am a segment 4 broker at EDJ.  I am pro-jones.  I think there are a lot of excellent brokers at EDJ and  there are excellent brokers at other firms.  EDJ is good, but not the only solution.

Dec 14, 2007 5:03 pm

Brian..Brian.Doug..Brian.Brian.Fess..Brian...Brian..Jim...Brian..Brian...We love that you love Jones.  Good Job.  Take care and have a good weekend. 

Dec 14, 2007 5:13 pm

What really irks me is the looks I get from some of my old coworkers at EDJ, who believe I sold my soul to the devil when I left.  If I am no longer at EDJ, I must have either been forced out or left because I want to sell EIA's and other worthless crap to little old ladies who don't know any better.

 
The ones who don't think I went to the dark side just pity me.  They assume I must be working for peanuts at a bank, because they are told over and over that the guys at banks don't get trails (I do) and get lower payouts (total package, I get about 40-45%, depending on the month, plus a 3% match on my 401k). 
 
Before I left I discussed the move with an unofficial mentor who was a 15 year vet.  He was one of the "good guys" who took a genuine interest in the well being of those of us still struggling.  He agreed that if I left I would probably see an immediate bump in my net, but his concern was he had never heard of a bank rep being able to make more than $100,000 a year, even an experienced rep with a mature book.  I beat that number in about month 15.  I don't think he was trying to mislead me, he just genuinely believed what he was constantly told . . . that there was no better system than the one he was in. 
 
That feeling of obvious superiority that many EDJers have is what draws the ire of those who left.  Don't worry about my clients, I'm still looking out for their best interests, even if that means I don't get a high enough commission check to put a pool in my backyard this year.  And certainly don't pity me, I'm making more money now than I did as an attorney.  And don't worry about what happens if the bank pulls the rug out from under me.  I'm sure I would lose some clients, but most of the ones I want won't stand for the drop in service they will receive if I am gone.
 
EDJ is an ok place, but not a perfect one, and certainly not the one I want to be at.  If they could just acknowledge that there are other systems out there that don't screw their clients, most of the ill will would fade away.
 
 
Dec 14, 2007 5:53 pm

I don know...I cry in my pillow at night.  I miss the Protective rep giving the same talk but at different locations and Hartford and Lincoln and American Funds and Goldman and Putnam and Federated and Lord Abbott and...well you get it.  Oh well..tis Friday adn I'm signing off from outside the cult camp.  Everyone (especially Miss Jones) have a great and safe weekend.  Goodnight John boy......and for you Jim...I hope your wife picked up some Mousse....

Dec 15, 2007 10:38 am

What got me was that in the 15 years at Jones I recruited 9 current FA's that are still active in the region--mentored at least 7 and did a goodknight plan...when I told the regional leader I didn't want to do another plan anytime soon--I saw my offering in LP cut in half...I asked about it and was told I should have done another plan!  Then when I resigned I only had one FA give me a call at home to wish me luck...some including my goodknight when for my accounts!  I live in a very small farming area and I see them quite often and they will go out of their way to avoid me--when I did talk to one of them they said it was a shame I that I let Jones down...that is the reason it is called a cult!  Jones won't let FA's mix training with other FA's in due diligence ect...yet since I went Indy I've been to meetings where ML, SB, MS, AGE FA's are there!  Is Jim driving the company in the right direction--yes, but let me ask one question.  Is it really fair to you remaining FA's at Jones that most of the profits are taken by the elite GP's of the firm who also get to pick the elite new GP's?  What if the GP's only took 30% of the profits instead of 78% or so and place the rest into profit sharing and LP's wouldn't that be more fair?  In reality--that is what we do in Indy world--we got rid of the GP and placed all rest of that money back into our own pockets---that doesn't make us evil--it makes since as a business model. 

Dec 15, 2007 11:05 am
Roadhard:

Then when I resigned I only had one FA give me a call at home to wish me luck...some including my goodknight when for my accounts!  I live in a very small farming area and I see them quite often and they will go out of their way to avoid me--when I did talk to one of them they said it was a shame I that I let Jones down...that is the reason it is called a cult!  



Maybe thats the difference from a rural area and an urban area.  I really don't know.  I borrowed a overhead projector from an FA in my region for a 4 week workshop.  He left Jones a couple of weeks later to go indy with LPL, he called me and asked me to let him know when I was through with it.  When I was done I called and asked him if I could drop it off to him and he said he would swing by my office and get it.   Not a big deal.

Why wouldn't they go after your accounts?  Do you refuse to transfer Jones account to your office?

Dec 15, 2007 12:22 pm

I can somewhat understand why Brian doesn't get it, because they do operate in a way to keep you from contact with the rest of the industry which prevents people from understanding things that Jones does not want them to know about the industry. There were some obvious indications that made me realize that Jones "talks out of both sides of their mouth". The most obvious was the constant pep talks by the regional leader describing how the Jones opportunity was far superior to any other firm or situation. Firms that are that good do not have to continually "sell" their employees, they know!. Another issue was the unfair and ruthless downgrading of people who left. Again, a firm who is not insecure would wish them well , and let them move on. My first clue came early on just before my first summer regional.It happened that my parents 50TH wedding annversary celebration was to take place on the weekend of the regional. My regional leader informed that the meeting was mandatory and I must attend.(the celebration was moved one weekend so I could attend). It was obvious to me at that point that Jones was not family oriented as I had been told. It was especially evident after attending the meeting and hearing nothing of any value or that could not be mailed. There are many other things that I could mention including requiring fund companies to hold Jones only due diligence meetings and forcing us to listen to a representative of the home office spout off about Jones which had nothing to with my goal for attending the meeting. I left Jones for many other reasons, both financial and ethical, but I did know early on that they don't practice what they preach!

Dec 15, 2007 12:29 pm
ednomore:

I can somewhat understand why Brian doesn't get it, because they do operate in a way to keep you from contact with the rest of the industry which prevents people from understanding things that Jones does not want them to know about the industry.


Brian worked at AGE and was Indy before Jones.

Dec 15, 2007 5:51 pm

Henryhill,

 
You have got to be the most intelligent EDJ rep to post yet.  Continue your quest to seg 5 and good luck.. 
Dec 15, 2007 10:12 pm

Ednomore, I have seen the opposite when it came to family and work.

 
I called my RL to tell him my son was in a baseball tournament the same time as a summer regional and he said he understood and would fill me in later on what I missed. So maybe that has more to do with different RL's than the company.
 
I have seen several situations with BOA's that amazed me how understanding the company was.
 
Maybe I just got lucky and ended up in a great region but as I've said I am completely happy and have enough experience to know if a company is good or not. In my 1st few years at AGE I felt good but later felt things were changing and as it turned out I was right. I have a great friend that works at AGE in St Louis and he says there is no one happy there right now. He said there are about 20 people left in the research department and they are there packing stuff up. He also said the Wachovia people remind him of standing by a pond that is drying up watching all the fish flopping around with no direction.
 
I hope you all have a great Christmas, no matter who you work for.
Dec 15, 2007 10:53 pm
Brian,
There are obviously big differences in the regions and areas, and you must be in a good one. The main thing is that you are happy where you are. Life is too short for any thing less.