Former Jones broker done good?
Van Pearcy
Did you know that Van was almost fired from Jones early in his career for lack of production?
No panty Fridays anyone?
Was he really.?
Probably the same way every FVP and high producing "rock star" at my company was once on an "action plan" for lack of production. Let me guess, at one of your conferences the leader talking to everyone said "This guy was 2 weeks away from getting fired. We all thought it was a lost cause. Then he spends the next 72 hours STRAIGHT knocking on doors, not taking no for an answer, and on the last day he got his $1,000 of production he needed to keep his job, and then 5 years later he's in the top 3% of the company, bringing in PILES of money every day! If he can be that close to losing his job and then turn it completely around, why can't EVERY ONE OF YOU be in his shoes at some point??" Not saying it wasn't different with this guy, but I heard the same b.s. about every high-up individual in my company and after I was told our Regional VP was once on an action plan I threw my hands up and tuned it all out.Did you know that Van was almost fired from Jones early in his career for lack of production?
On one hand I stick up for Jones because they get bashed unbelievably on here. On the other hand, I like to pile on because of what I saw first hand. Perception becomes reality at some point because there is too much venom for this anger to be unfounded.
Wasn’t this the guy where they offered to let him take part of his book, so he took the bottom half knowing the top half would come with anyways?
What does, he built his practice ‘with his father’s encouragement’ mean?
I’m struggling with the math on this guy. It says he has 28 years experience but he’s only 47.
47-28=19
Haven’t you always had to be 21 to get licensed?
Yeah he is full of it… so either he is older than 47 or he is exaggerating his experience… Because he didn’t start until 1988… Before that he was trying to make the NFL.
Was looking at his bio… he offers “How to build a high networth practice” 4 day event for $2K… Anybody ever do this?
PS: his website claims 22 years of experience…
Just read the first line of the RR article on this guy and I already do not like him. Notre Dame!
OK, here’s the story as I have been told from a former Jones guy who used to be in Midland with Van.
Van hits Midland and gets going but starts to stumble. He's a young guy, new to the biz, in oil country where there's lot's of money floating around. Gets the call from Jones that says either put up the numbers or we're booting you out of your office. Here's where they Notre Dame affiliation becomes a big thing for him. Evidenlty there are some other Notre Dame guys in town. Van is friends with one of them, an attorney as I recall. So, Van goes to this guy as a friend and says that he's about to get fired if he doesn't do some business quickly. Of course the friend feels bad for him so he tells Van to follow him around. They then proceed to walk into dozens of other businesses and offices around town where some other Notre Dame grads are. The guy introduces Van as a Notre Dame alum, tells them to get out their checkbook and write him a check. Not wanting to see one of their own go down in flames, they all comply and Van's job is saved. That is until he starts promoting no panty Tuesday (or Friday depending on who's telling the story) and Jones fires him. As I recall we fired two big producers right about that time. Both from Texas. I can't remember the other guys name, but he wanted to buy his own jet and have Jones reimburse him for the travel expense because he would be using it to visit clients. That and a few other compliance issues later and Jones hands him his walking papers also. I think they were both top 10 in the firm at the time.Yeah he is a wreck now since he left jones… $5Mil in production $600M+ in AUM…
That is the great thing about jones.. there are tons of stories of these huge producers and the outrageous stuff they did..Who is number 1 in jones now? There was a guy in seatle area who was pretty big…
No, I was licensed at 20.I’m struggling with the math on this guy. It says he has 28 years experience but he’s only 47.
47-28=19
Haven’t you always had to be 21 to get licensed?
Are no panty days wrong? What is happening to this world?
With my old BOA they would have been…
[quote=jkl1v1n6]
Are no panty days wrong? What is happening to this world?
[/quote] Exactly ! I can't believe I got push back from management about no pants Saturday at the bank ! I asked them if I could do it if I just stayed behind the desk and they still said no !Who is number 1 in jones now? There was a guy in seatle area who was pretty big…
When I left it was some guy in North Dakota who was doing like $2mil (I think). Spiff and B24 (or Hulk or Hey Koolaid) can probably confirm or deny.
I heard about that guy when iwas there… Apparently his dad is head of some big law firm in N Dakota and it all came from there…
[quote=Squash1]I heard about that guy when iwas there… Apparently his dad is head of some big law firm in N Dakota and it all came from there…[/quote]
Oh perfect ! And that stroke was probably carried around from meeting to meeting teaching FA's how to build their business.Hey that’s the jones way… my former RL built a book of $10MIL, moved states because they gave hime $100MIL…
That guy in ND did $3 Mil last year. He does a ton of insurance.
The only thing I've ever heard (but not confirmed) about his situation is that his dad was a successful insurance guy in town. I recall hearing something about him retiring and him taking over (and 1035ing) all of the policies he could. But, now I understand he has gotten himself into a circle of retiring CEO types and is doing some fancy retirment/estate planning for them. ***************************************************** For those of you who saw the original post, I edited it after a conversation with Hulk, to protect the FA's info. Not to mention my buddy who is in FSD. My allergy fogged brain just isn't working right this morning.Back when I was with Jones I heard about a guy in Nebraska that was doing some huge insurance policy that was supposed to pay him 1M or close to it.
Those stories pop up all the time. We’ve got a guy in the STL area that just landed a $200 Mil account. Cash. Guy worked for BUD and had a ton of shares that got sold at $70 a pop.
Story is that the money is just flowing through Jones on the way to the trust. So, the FA doesn't get to keep the AUM, just the net. He's buying all munis with it from what I've been told.Isn’t that a little “TMI” as the teenagers call it Spiff?
Why do you say that?
Source URL:https://www.wealthmanagement.com/forums/general/former-jones-broker-done-good