Mr. & Mrs. Client, I left Jones because

It should be something like this......In the interest of my clients and of course you in particuliar.  I have chosen a different for my business.  The tools out there today are vast and I need access to them for your benefit.....in X, Y, Z.  I value our relationship and look forward to improving how I serve you and your family's needs....

I left Edward Jones in order to have the freedom to manage my accounts as I see fit. The Jones model,because it has to accommodate 7000 brand new advisors every year, gives little freedome to the individual advisor in order to keep the newbies from making mistakes.

I've outlived the need for that oversight, wouldn't you agree?

I wanted to be free of all conflicts. And as an employee of Jones or any other firm I wouldn't be able to make the best recommendations for you only the best that EDJ would allow me to. Sometimes those recommendations would have been identical, but most often I found options that the firm felt wasn't in their best interest.

The clients must always come first and the only way for me to accomplish this was to align with a firm that felt the same way.

You didn't seriously think that I'd let comments like these go, did you? 

Lock - 7000 new advisors every year?  Really?  While it is true that we hire new advisors every year, 7000 is a bit of a stretch.  But, perhaps you just pulled that number out of your butt without thinking about what the actual number is.

I don't think I'd ever tell a client that I've outlived some oversight.  In my opinion it's always a good idea to have someone smarter than me taking a look at things.  Now, if  you want to go out and get your CFA, then maybe after that you can say that.  Telling them you've outlived the need for oversight might make them question who's watching over you while you're watching over their money. 

The reality is that noobs have more freedom than they realize.  I think most Jones FAs don't really realize how many investment choices they really have.  If you're going to sit across the desk from a client and tell them that you have lots of better choices than the thousands of mutual funds, stocks, bonds, ETFs, etc. that you did at EDJ, you'd better have your tongue planted firmly in your cheek.   

Next - not bad, simple to the point.   

Cheesey - always the antagonist.  I wouldn't have expected anything different from you.  Continue to throw stones at Jones while you walk away.   

You my little man have a very very short memory. Checkout your lame ass response on the other thread  when you tried to take a stab at the old man (I know I can't take a joke).

 Maybe you should step away from the bong....

Which other firms have you worked at Spiff?

Spiff, I have to sort of agree with Lock on this to a degree.  Not the 7000 new reps and "not needing that level of oversight" thing (although I think what he meant to say was different than how it came out ).  But the investment option thing is not untrue.  You are right Spiff, that we do have access to virtually all funds (non no-load), ETF's and stocks.  And we have acess to plenty of no-loads, etc. through Advisory solutions.  We also have access to SMA managers.  So in theory we have access to just as many investment options as most firms.  But at closer inspection, all is not as it seems.

1. Being forced into A shares (unless you do Advisory Fee business) , eliminates ones ability to use "best in class" investment options.  Obviously, this is a problem at any firm if you choose ot use A shares.  However, above $100,000 most firms would use C shares in order to take this approach.  We are really not able to do that.

2. "Preferred Fund Families", coupled with the firm's "hire new" approach, and research support of the Preferred Fund families generally forces advisors into Preferred Fund families from Day 1.  To me, this creates an overt conflict of interest (above the natural conflicts we all have at any firm, under any fee/commission arrangement).  Yes, we are welcomed to use most fund families, but when you are brand new and know nothing else, you are going to use them.  And due to natural inertia, you will tend to stick with them, at least for a period of years. 

3. Advisory Solutions: Since you get impacted considerably on your production goals for putting new money into Advisory versus commissioned products, newer FA's (like, under 5 years) simply can't afford (from an income OR production perspective) to put new money into ffee-based investments.  Hence, another MAJOR conflict of interest.  Putting production requirements ahead of investment recommendations

4. Advisory Solutions: Yes, there are a couple hundred funds and ETF's we can use.  But they essentially dictate the asset allocation structure and force us into investing EXACTLY how they want us to.  No ability to use World Allocation Funds (First Eagle, Blackrock, Ivy Asset Strat, MFS Global TR, etc.) or employ any investment strategy other than strict style-box buy-and-hold investing.  In fact, getting a client out of harms way during a crash would require them to sign a new IPS.  And even then, the IPS is created through a series of questions that cannot be adjusted.  For example, my REALLY conservative 50 year-old client cannot be any more conservative than Balanced Growth & Income (50/50) if I answer the questions honestly, and answer them the MOST conservative way possible.  In order to be LESS conservative than 50/50, I would need to lie on the risk assesment.  But not lie about their risk tolerance, I would need to lie about their stage in life (i.e. retired, high earnings years, etc.).  I simply won't do that.  So JONES forces me into being MORE aggressive with clients than I want to be.

5. SMA's: The minimum account size is so high, and the manager options so few that it is not a very realistic option for most clients.

Listen, I defend Jones on many things.  But I really feel squeezed on my investment strategy in many ways.  I know they are coming out with a UMA platform next eyar, but we all know what it will encompass....it will be Jones Advisory Funds, coupled with either stocks from the Jones model portfolio only (in their chosen proportions), or SMA managers, as well as bond ladders that Jones creates.  GREAT tool for advisors that are not interested in managing the investment side.  No doubt.  But it will still be very rigid in construction.

[quote=BigCheese]

You my little man have a very very short memory. Checkout your lame ass response on the other thread  when you tried to take a stab at the old man (I know I can't take a joke).

 Maybe you should step away from the bong....

[/quote]

Somehow I knew when I put your name in that post that your bear trap memory would latch on to it forever.  That seems to be the way it works.  Dude, it was a joke.  Let it go. 

Space: frankly does it make it sound so much different at 3000 or 4000 than it does at 7000? Edward Jones needs to protect itself from it's advisors, from the fact that each newbie gets an office before he knows enough and so every one of the remainder are restricted.

And really??? You have someone "smarter than yourself" looking over your shoulder? Who is that, Space? Because the people looking over my shoulder at Jones was Field Supervision ( who literally is my branch supervisor), and you'll never hear me admit he was even smarter than sperm. No RL, AL, or StL rep ever looked at my book of business and I bet my experience is hardly the exception.

So I'm good with what I said. Thanks.

B - I don't disagree with most of your statements.  There are certainly restrictions on the way we invest at Jones.  From what I've seen from a lot statements from other companies, the industry and it's clients would be a LOT better off if there were similar restrictions at other B/Ds.  Maybe there are and I just don't see them. 

GHGR - Why does it matter how many firms I've worked for?  This is an I'm leaving JONES conversation, not an I'm leaving MER conversation. 

At Jones, I have often heard "do what's best for the client". But my experience has been "do the least harm to the client while being profitable". I'm not sure if that is much different than other houses, but I find it anything but impressive. I have found FA investment ignorance acceptable(by Jones), but lack of production unacceptable. That may be understandable, but is it right. If and when I leave Jones, would I leave my money to be invested by another Jones FA? No way.

Spiff -

You have no basis for comparison AT ALL. Lay off defending Jones for once. I'm even an FA at Jones and there's a lot that I like about this firm, but all you do is waltz into every thread and absolutely PRAISE Edward Jones.

A) It's the only firm you've worked for.  B) You regurgitate every little bit of propaganda that's pro-Edward Jones C) It's starting to make everyone sick

Reading your Edward Jones' posts is like listening to FA's at KYC make small-talk

[quote=gethardgetraw]

Reading your Edward Jones' posts is like listening to FA's at KYC make small-talk

[/quote]

That's hysterical!  I was a visiting vet a couple years ago, and chuckled at nearly every conversation I walked by. 

[quote=gethardgetraw]

Spiff -

You have no basis for comparison AT ALL. Lay off defending Jones for once. I'm even an FA at Jones and there's a lot that I like about this firm, but all you do is waltz into every thread and absolutely PRAISE Edward Jones.

A) It's the only firm you've worked for.  B) You regurgitate every little bit of propaganda that's pro-Edward Jones C) It's starting to make everyone sick

Reading your Edward Jones' posts is like listening to FA's at KYC make small-talk

[/quote]

There are absolutely a lot of times that I will praise Jones for things I think they are doing right.  But mostly, like with this thread, it's in defense of something that someone else has said that I believe to be inaccurate.   In the case of Cheese, I argue with him sometimes just to get under his skin.  I knew that's what was going to happen here.  And it worked.      

Just FYI, my pro-EDJ stance has been making everyone here sick since 2006. 

I'm guessing, like B24, that you are taking exception with my comments about the amount of choices that Jones FAs have with their investments.  My point was that I believe we actually feel a lot more handcuffed than we really are.  Just because we have preferred fund families doesn't mean we have to use them.  Lock's post made it sound like Jones was saying he had to use American Funds, for example, and only American Funds and that by going independant he can now use hundreds of different families.  Which of course is absolutely not true.  If you call that regurgitating pro-Jones propaganda, then so be it.  I think it's disengenuous to tell clients that your move to independance opened the door to different investments that you more than likely could have purchased for them at your previous firm but didn't because you didn't take the time to look any farther than the lists Jones provides you. 

To the OP - tell people whatever you want about why you are leaving Jones.  If you have provided them with the level of service Jones preaches, they should move with you whether you have a better platform or not. 

If it were me I'd say something like:

Mr. Client, EDJ is a fine company, but in an effort to better service my clients, I felt the need to move on to what I believe is a better situation for you, my business, and my family.  The level of service I have provided you while at EDJ will not change.  I promise you that.  In fact I'm going to work hard to improve it.  My hope is that we can continue to grow our relationship well into the future, regardless of the name on the door of my office.  Now, when can you come by to visit me in my new office?  

Spiff-

You are so full of crap you must beleive it. There was a time on these fourms I actually thought I was learning something. All you do is think you make me mad. If anything you prove my point everytime you hit the keyboard. If you are the kind of rep Jones covets, your firm is in more trouble than I thought.

When you start to forumulate your own thoughts...you will free yourself from yourself. Perhaps the webmaster would consider your constant diatribes cruel and unusual punishment for the rest of us and ban you from the forums.

Can you imagine...a business day without posting.

I'm not trying to make you mad.  Just react.  I don't enjoy making people mad, but I do enjoy trying to see if I can get guys like you to respond.  Kind of like Pavlov's dog.  Ring a bell and you sit up and beg.

I'm no more full of crap than you are.  You have an opinion of Jones that is the opposite of mine.  So if the admin is going to boot me for be pro-Jones, he has to boot you for being anti-Jones. 

Do us a favor and go back to work.When you learn something that you think we can benefit from bring it back to the forums. Otherwise take your 3000 propaganda posts and stick it where you can't see it for a long long time.

Once again. I am done with you Spiff. You bring no value just a bunch of bullshit. Sounds to me like others agree. At least B24 can be objective.

[quote=BigCheese]

Do us a favor and go back to work.When you learn something that you think we can benefit from bring it back to the forums. Otherwise take your 3000 propaganda posts and stick it where you can't see it for a long long time.

Once again. I am done with you Spiff. You bring no value just a bunch of bullshit. Sounds to me like others agree. At least B24 can be objective.

[/quote]

And what value do you bring to the table?  All I've heard you talk about, ever, is how bad a company Jones is and how much kool aid their FAs drink.  You bring no more value to the table with your posts than I do. 

You know what I think is funny?  And a bit ironic at the same time.  You try to blast me for not posting anything but 3000 propaganda posts, but yet when I did a search for BigCheese, 95% of the posts you typed were in something having to do with Jones.  The only one that I remember seeing that wasn't about Jones was the one about LPL going public.  I saw NOTHING that would have added any value to anyone's business. 

When I did the same search on myself, there were posts on taxation, doorknocking, politics, muni bonds, inverse ETFs, etc in addition to my posts in Jones topics.  Many of those posts ended up with some decent info for me and for any of the other people who happened to read them.  

So where do you get off telling me that I add no value?     

I'll believe the "I'm done with you" comment when you actually follow through on it.

[quote=B24]

Spiff, I have to sort of agree with Lock on this to a degree.  Not the 7000 new reps and "not needing that level of oversight" thing (although I think what he meant to say was different than how it came out ).  But the investment option thing is not untrue.  You are right Spiff, that we do have access to virtually all funds (non no-load), ETF's and stocks.  And we have acess to plenty of no-loads, etc. through Advisory solutions.  We also have access to SMA managers.  So in theory we have access to just as many investment options as most firms.  But at closer inspection, all is not as it seems.

1. Being forced into A shares (unless you do Advisory Fee business) , eliminates ones ability to use "best in class" investment options.  Obviously, this is a problem at any firm if you choose ot use A shares.  However, above $100,000 most firms would use C shares in order to take this approach.  We are really not able to do that.

2. "Preferred Fund Families", coupled with the firm's "hire new" approach, and research support of the Preferred Fund families generally forces advisors into Preferred Fund families from Day 1.  To me, this creates an overt conflict of interest (above the natural conflicts we all have at any firm, under any fee/commission arrangement).  Yes, we are welcomed to use most fund families, but when you are brand new and know nothing else, you are going to use them.  And due to natural inertia, you will tend to stick with them, at least for a period of years. 

3. Advisory Solutions: Since you get impacted considerably on your production goals for putting new money into Advisory versus commissioned products, newer FA's (like, under 5 years) simply can't afford (from an income OR production perspective) to put new money into ffee-based investments.  Hence, another MAJOR conflict of interest.  Putting production requirements ahead of investment recommendations

4. Advisory Solutions: Yes, there are a couple hundred funds and ETF's we can use.  But they essentially dictate the asset allocation structure and force us into investing EXACTLY how they want us to.  No ability to use World Allocation Funds (First Eagle, Blackrock, Ivy Asset Strat, MFS Global TR, etc.) or employ any investment strategy other than strict style-box buy-and-hold investing.  In fact, getting a client out of harms way during a crash would require them to sign a new IPS.  And even then, the IPS is created through a series of questions that cannot be adjusted.  For example, my REALLY conservative 50 year-old client cannot be any more conservative than Balanced Growth & Income (50/50) if I answer the questions honestly, and answer them the MOST conservative way possible.  In order to be LESS conservative than 50/50, I would need to lie on the risk assesment.  But not lie about their risk tolerance, I would need to lie about their stage in life (i.e. retired, high earnings years, etc.).  I simply won't do that.  So JONES forces me into being MORE aggressive with clients than I want to be.

5. SMA's: The minimum account size is so high, and the manager options so few that it is not a very realistic option for most clients.

Listen, I defend Jones on many things.  But I really feel squeezed on my investment strategy in many ways.  I know they are coming out with a UMA platform next eyar, but we all know what it will encompass....it will be Jones Advisory Funds, coupled with either stocks from the Jones model portfolio only (in their chosen proportions), or SMA managers, as well as bond ladders that Jones creates.  GREAT tool for advisors that are not interested in managing the investment side.  No doubt.  But it will still be very rigid in construction.

[/quote]

Great post.  The part about the firm not allowing you to put your client in a more conservative mix during times of market distress is just reckless in my opinion.  I can see stopping FA's from putting people with conservative I/O's on their acct into an aggressive portfolio, but to stop the FA from protecting the client???!!!  Crazy stuff......

This topic has experienced a little drift

[quote=abrandnewcar]

(If Dairy Queen can't see the opportunity in my town do we really need another Edward Jones office?).

 [/quote]

Not really since the reasons cited are great reasons to leave Jones!!  Mr./Mrs. client I am leaving Jones because they don't give me the tools necessary to properly service your investments.

To abrandnewcar (the orginal poster of this thread)-

Good luck on your transition to independence. What you learned at Jones lays the foundation for a great opportunity for a long and profitable career. It takes hard work and cajones.

Remember others have done it, and if you are like the vast majority, you will look back and be thankful for your time at Jones, and more grateful to be on your own.

[quote=Spaceman Spiff]

You try to blast me for not posting anything but 3000 propaganda posts, but yet when I did a search for BigCheese, 95% of the posts you typed were in something having to do with Jones.  [/quote]

Cheese Doodle, he sort of has you pegged there.

I worked there for 9 years. Would you like me to comment on a firm that I didn't work at? I am not as prophetic as you and Spiff. I am a 16 industry veteran. I was independent prior for my first three years and at Jones for 9 and indy the last 4. I know of what I am speaking. I have always tried to give my perspective objuectively.

I'll say it once again. I think Jones is a great place to learn the business. I liked the people I worked with. After a few years into my Jones career I didn't trust the management at any level. I left in the green. I was a Seg 4 guy, Seg 5 was just being implemented when I left (and I wouldn't have qualified at the time).

Spiff can bait others. 

Done. 

Easy Cheeseburger, point was, for someone gone from Jones for so long, you have an awful lot to say about them.  I recently went to my 20th college reunion.  You sound like my buddies that still talk about stuff that happened at frat parties, when most of us are talking about work, kids, etc.  In other words, we all moved on.

Hell, B24, the frat party stories get better and better with time. At your 40th, you will enjoy them even more.

[quote=B24]

Easy Cheeseburger, point was, for someone gone from Jones for so long, you have an awful lot to say about them.  I recently went to my 20th college reunion.  You sound like my buddies that still talk about stuff that happened at frat parties, when most of us are talking about work, kids, etc.  In other words, we all moved on.

[/quote]

Why would you want to talk about your wife and kids and work instead of the best times of your life?

[quote=LockEDJ]

Space: frankly does it make it sound so much different at 3000 or 4000 than it does at 7000? Edward Jones needs to protect itself from it's advisors, from the fact that each newbie gets an office before he knows enough and so every one of the remainder are restricted.

And really??? You have someone "smarter than yourself" looking over your shoulder? Who is that, Space? Because the people looking over my shoulder at Jones was Field Supervision ( who literally is my branch supervisor), and you'll never hear me admit he was even smarter than sperm. No RL, AL, or StL rep ever looked at my book of business and I bet my experience is hardly the exception.

So I'm good with what I said. Thanks.

[/quote]

Sorry, Lock, I was too busy debating with foot to follow up with this one. 

I wasn't talking about your FSD, RL, or AL when I was referencing those people smarter than me.  I was talking about folks like the IPC, Product Review, Mutual Fund Research, equity analysts, bond analysts, etc.  The only thing FSD does is look at the trades you place for suitability for that particular client.  They don't look at the quality of the investments you use.  But, with folks like the IPC setting portfolio percentages and Product Review giving the yea or nay on different investments, there was someone smarter than you looking over your shoulder.  Not to mention the analysts with CFA tacked behind their names that have the ability to dig a whole lot deeper into a stock or fund or a bond than we ever will. 

[quote=gethardgetraw]

[quote=B24]

Easy Cheeseburger, point was, for someone gone from Jones for so long, you have an awful lot to say about them.  I recently went to my 20th college reunion.  You sound like my buddies that still talk about stuff that happened at frat parties, when most of us are talking about work, kids, etc.  In other words, we all moved on.

[/quote]

Why would you want to talk about your wife and kids and work instead of the best times of your life?

[/quote]

[quote=gethardgetraw]

[quote=B24]

Easy Cheeseburger, point was, for someone gone from Jones for so long, you have an awful lot to say about them.  I recently went to my 20th college reunion.  You sound like my buddies that still talk about stuff that happened at frat parties, when most of us are talking about work, kids, etc.  In other words, we all moved on.

[/quote]

Why would you want to talk about your wife and kids and work instead of the best times of your life?

[/quote]

You all make valid points.

I left Edward Jones because neither you or I fit their business model Mr. Client.  Edward Jones is a great company, for certain people.  The clients I work with need more.  I can´t wait to sit down with you and discuss the new possibilities. 

About those with a CFA charter.  The issue is not whether they are smart (they are), it´s whether their independence is encouraged.  Analysts should be indpendent in their thinking.  Jones has MANY requirements and protocols on how to conduct investment analysis, and those methods must be followed.  Jones analysts are more handcuffed than the advisors.

It looks like the conversation between Lock and Spiff was misinterpreted.  Lock, in his letter to his clients was speaking about FSDs, but Spiff addressed the research team.  Lock likely has a research team as an Indy, so he probably gets the same or better information than Jones reps do.

I still would not say nobody is looking over my shoulder though.  That sounds really bad.

Back to the original question...

Text of letter I sent.  Typed, not handwritten like Jones would have you do.

Hello!  I hope all is well.

I just wanted to take a minute of your time to share some news with you.  As of today, I am no longer with Edward Jones.

While Edward Jones is a good company, I found that my operating philosophy is different than most larger brokerage firms. My philosophy and practice is to objectively serve my clients, mindful always of their interests, first and foremost.

While it is always more difficult to start a new venture, I have chosen this path because I strongly believe it is in the best interest of the people I serve. You have entrusted me with your savings, and I take that very personally and seriously. Thank you for honoring me with your trust.

To that end, I will be starting my own company and accepting fiduciary responsibility for the decisions we make together so that I may continue to help individuals and families with their financial needs while ensuring their interests come first.

I greatly value our relationship and I would be honored to continue serving you and your family. If you are interested in continuing our working partnership, please simply call or email me at your convenience.

 
I am very excited about this decision and hope you are too. Thank you again for allowing me to protect and grow your financial assets.

Followed up with a phone call or a stop out.

So, you went RIA?  The "accepting fiduciary responsibility" comment is what I read that made me think that. 

I don't think there's any need to say any more than you have.  No need to bash your previous firm. no need to go into self-aggrandizing comments about how much of a big boy you are now.  Just plain and simple, I needed to make a change that I believe is better for you and for me. 

Good luck with it. 

Try this;

Mr. Client, I left Edward Jones because they are to investment advice what H&R block is to tax advice.

How about this:  Mr. Prospect, I'd like you to sign these ACAT papers today because your current FA, spamfilter, is a complete tool. 

[quote=Spaceman Spiff]

How about this:  Mr. Prospect, I'd like you to sign these ACAT papers today because your current FA, spamfilter, is a complete tool. 

[/quote]

I am a voracious reader and in one of my recent reads on relationships I read the following.  Although we are not in a relationship I still think the information is applicable. 

If you find yourself inclined to name call, ask yourself:

• “What is my anger about?” “What is the perceived threat to my self-esteem?” “How can I regain control without needing to diminish my partner’s worth?”

• “Has my previous name calling behavior served or hurt my relationship with my partner?”

• “Would I like to be spoken to in the style with which I speak to my partner?” “Why not?”

• “How can I become more accepting of my own failings, so that I would not need to highlight my partner’s to feel better about myself?”

I'm not angry with you.  I was simply making a joke at your expense.  Just like you were with the EDJ/H&R Block commentary. 

What is it about EDJ that makes you think that they are on par with H&R Block?  It's boring around here lately, so feel free to give us a list of things to banter back and forth.

[quote=Spaceman Spiff]

What is it about EDJ that makes you think that they are on par with H&R Block?  It's boring around here lately, so feel free to give us a list of things to banter back and forth.

[/quote]

Here is the list of reasons:

I work for Jones

Well said spam!

navet - another tool from the same box. 

spam - I knew you worked for Jones.  Which is why I thought it was weird that you said what you did. 

Let me rephrase the question.  What is it about the company you work for that you would do differently if you ran the company yourself? 

[quote=Spaceman Spiff]

To the OP - tell people whatever you want about why you are leaving Jones.  If you have provided them with the level of service Jones preaches, they should move with you whether you have a better platform or not. 

If it were me I'd say something like:

Mr. Client, EDJ is a fine company, but in an effort to better service my clients, I felt the need to move on to what I believe is a better situation for you, my business, and my family.  The level of service I have provided you while at EDJ will not change.  I promise you that.  In fact I'm going to work hard to improve it.  My hope is that we can continue to grow our relationship well into the future, regardless of the name on the door of my office.  Now, when can you come by to visit me in my new office?  

[/quote]Good choice but I would remove the words I noted as they serve no beneficial purpose in this message.

[quote=BigCheese]

Spiff-

You are so full of crap you must beleive it. There was a time on these fourms I actually thought I was learning something. All you do is think you make me mad. If anything you prove my point everytime you hit the keyboard. If you are the kind of rep Jones covets, your firm is in more trouble than I thought.

When you start to forumulate your own thoughts...you will free yourself from yourself. Perhaps the webmaster would consider your constant diatribes cruel and unusual punishment for the rest of us and ban you from the forums.

Can you imagine...a business day without posting.

[/quote]Perhaps the webmaster would consider it SPAM!

Man Spiff...  After your admission to being a trainer and your posts/post counts, I cant believe that your compensation/div trips/Ltd is not tied to this board.

Disclaimer:  I am not a Jones basher, but I am inclined to becoming a Spiff basher.

It does get old. His posts are always sooo long. I skip em now if they are over a couple 4 or 5 lines.

Either it is his job, or the force is STRONG in this one.

I choose the former rather than the latter, IMHO.

You don't like my posts because I can form complete sentences?  Because I can then form those sentences into complete paragraphs?  I'm capable of thinking in a form other than one liners, so that makes my posts bad? 

The thing about my long posts is that you know EXACTLY what I'm thinking at the end of them.  See, with posts like yours, I don't know whether you don't like my posts because you don't like to read anything other than comic books, or because you disagree with my commentary.  It leaves a lot to be construed by the reader.  In this case me.  And I'm still waffling between the former and the latter on you. 

I'll say it again....

Spiff-

Step away from the bong

I thought you were done with me.  Miss me? 

I am trying to humor myself...it's a joke. Get a life.

Sounds like others are getting sick of you too.

Spiff is a former failed middle manager. The comeback taught to middle managers is, if you don't like it, how would you change it? Complete newspeak manipulation. Put the problem on the victims shoulders, the one least likely to be able to do anything about it. Only said to shut the issue down. Spiff was given the task of spewing jones kool ade on this site.

Wrong - please play again. 

I've never held a management position at Jones.  While I did work in the home office for a few years, none of it was anything other than a team member.    I'm just another FA, just like you folks.  I found this site by accident a few years ago and discovered all of the anti-Jones sentiment that exists here.  I thought there needed to be someone who was willing to dish it out in the defense of Jones as there were obviously a lot of Jones bashers here already.   

What victims are you talking about here?   Are you referring to Joel and N.D. as victims of my postings? 

Joel - if you want to be a Spiff basher, bring it on.  You're not even in the same league as Cheese.  It gets pretty boring around here if there isn't someone vehemently disagreeing with me. 

ND - Sorry, I realize you might not read this because it's like 6 sentences down the page, but I apologize in advance for posting some really long posts.  I promise it WILL happen in the future. 

Its not that I mind the long posts as much as the fact these posts are you telling the same story over and over just different ways. It probably is not your fault as much as it is the fault of whinny soon to be ex-jonesies you are trying to convince that they should try it again on more time or your constant effort to defend Jones again and again. It is what it is so just let them bash if it gets it off their chest.

I've never held a management position at Jones. Jones mangagement is smarter than I thought.

 I'm just another FA, just like you folks. Doubt it, We don't go home and tell the wife we worked hard today and posted 5 times.

You don't like my posts because I can form complete sentences?  Because I can then form those sentences into complete paragraphs?  If you are so damn smart why inject the word "then".

 I thought there needed to be someone who was willing to dish it out in the defense of Jones as there were obviously a lot of Jones bashers here already.   Self-proclaimed drone...how sad. Did you ask Weddle for permission?

Joel - if you want to be a Spiff basher, bring it on.  You're not even in the same league as Cheese. I do believe I received the highest praise in the Jones system now... Thanks.

 I promise it WILL happen in the future.  Oooh....I am so worried. I will brace mysellf for the onslaught.

Oh yeah. Now it's time for the classic response....

I'm not angry with you.  I was simply making a joke at your expense.  We know....3000 posts in 4 years.You should be GP soon, that's dedication!

[quote=BigCheese]

I've never held a management position at Jones. Jones mangagement is smarter than I thought. - I never applied for a management position.  I knew after a few years that I would rather be an FA than a Team Leader. 

 I'm just another FA, just like you folks. Doubt it, We don't go home and tell the wife we worked hard today and posted 5 times. - My five posts might have taken 15 minutes out of my day.  Even if were half an hour, I still have lots of time to get the work done that I need to get done. 

You don't like my posts because I can form complete sentences?  Because I can then form those sentences into complete paragraphs?  If you are so damn smart why inject the word "then". - Old habits die hard.  My college professor tried to break me of that habit too. 

 I thought there needed to be someone who was willing to dish it out in the defense of Jones as there were obviously a lot of Jones bashers here already.   Self-proclaimed drone...how sad. Did you ask Weddle for permission? - Weddle wasn't in charge 4 years ago.  Doug never told me to stop.  

Joel - if you want to be a Spiff basher, bring it on.  You're not even in the same league as Cheese. I do believe I received the highest praise in the Jones system now... Thanks. - You're welcome.

 I promise it WILL happen in the future.  Oooh....I am so worried. I will brace mysellf for the onslaught.

Oh yeah. Now it's time for the classic response....

I'm not angry with you.  I was simply making a joke at your expense.  We know....3000 posts in 4 years.You should be GP soon, that's dedication! - If I posted every selling day, that would only come out to 3.125 posts a day.  I'll bet there are other folks that waste more time on other sites everyday than I do here. 

[/quote]

Jones is a good company, but not a great company. Their niche is basically as a bottom feeder. They take almost anyone as a customer and almost anyone as an FA. Can you be very successful at Jones? Sure. But bottom feeding causes a certain lack of confidence that leads to kool-ade type of personality problems. Same thing I see with a lot of born agains'. Thus we are subject to comments from folks like spiffy, who are so unsure of themselves and their company that they feel threatened by negative comments.

 If I posted every selling day, that would only come out to 3.125 posts a day.  I'll bet there are other folks that waste more time on other sites everyday than I do here. 

If you work 350 days a year, you are posting almost 9 a day. You are a terrible time waster and as Navet say so perfectly...

Same thing I see with a lot of born agains'. Thus we are subject to comments from folks like spiffy, who are so unsure of themselves and their company that they feel threatened by negative comments.

Looks like others are done with your crap too.

How do you get to 9 posts per day?  Don't you work with numbers all day long?  Do your clients know your math skills are so sub-par? 

Using your numbers:

350 days (BTW, who works 350 days a year?) of posting X 4 years = 1400 days I could have posted.  3000/1400 = 2.14 posts per day.  That's a whole lot less than 9.  Now, if I had joined a year ago and put up 3000 posts, then your math would be correct.  However, it's not.  

Using my numbers:

4 years X 12 months X 20 selling days a month average = 960.  3000/960 = 3.125. 

Either way, not a huge chunk of time out of my day.  The way I see it, nobody comes to the Reg Rep forums for anything other than a diversion from the daily grind of this biz.  We can make believe that we're here to learn something, but we all know that you can probably learn as much if  you took the top producer in your branch or region to lunch than you can trolling these forums.  It's the equivalent of a corporate lunchroom or water cooler.  We may ask a serious question from time to time, but mostly it's just to blow off some steam.  So, if they're that concerned about the amount of their time that I'm wasting with my long posts, perhaps they should stop wasting time on the forums altogether. 

Navet - by "born agains" I'm assuming your referring to Christians.  I shouldn't, but I'll spare you my diatribe on faith.  I'm fairly confident I'd be wasting everyone's time.  Especially my own.   

^ case in point

spiffy, with you taliking about faith there will certainly be fewer christians. so go ahead.

GHGR - Touche.

Navet - not today.  Another time, maybe.   

Silly me I just forgot you had posted over 4 years. It just seems like 1 year because you shout from the rafters until you are blue in the face. And I was preparing for a new appt . I found 1.6M today....how about you?

I know you were pissing into the water cooler to blow off steam. Much more important than working.

[quote=Spaceman Spiff]

[quote=LockEDJ]

Space: frankly does it make it sound so much different at 3000 or 4000 than it does at 7000? Edward Jones needs to protect itself from it's advisors, from the fact that each newbie gets an office before he knows enough and so every one of the remainder are restricted.

And really??? You have someone "smarter than yourself" looking over your shoulder? Who is that, Space? Because the people looking over my shoulder at Jones was Field Supervision ( who literally is my branch supervisor), and you'll never hear me admit he was even smarter than sperm. No RL, AL, or StL rep ever looked at my book of business and I bet my experience is hardly the exception.

So I'm good with what I said. Thanks.

[/quote]

Sorry, Lock, I was too busy debating with foot to follow up with this one. 

I wasn't talking about your FSD, RL, or AL when I was referencing those people smarter than me.  I was talking about folks like the IPC, Product Review, Mutual Fund Research, equity analysts, bond analysts, etc.  The only thing FSD does is look at the trades you place for suitability for that particular client.  They don't look at the quality of the investments you use.  But, with folks like the IPC setting portfolio percentages and Product Review giving the yea or nay on different investments, there was someone smarter than you looking over your shoulder.  Not to mention the analysts with CFA tacked behind their names that have the ability to dig a whole lot deeper into a stock or fund or a bond than we ever will.

[/quote]

Sorry I missed this reply.

How are the people you reference in any way giving me guidence or for that matter "looking over my shoulder"? It would be my assumption that the implicit theme to looking over one's shoulder would require intervention at some point.

Simply setting parameters for asset allocation, or restricting my access to investments like Prudentials HD6, international bonds, or privately traded REITs, doesn't indicate in any way to me that I had someone looking over my shoulder. More like, they were keeping an eye on the exposure of Big Green to lawsuits. If they wanted to "look over my shoulder" then "they" might have been proactive in some way, or at the very least taken some substantial efforts at teaching portfolio construction and following that, portfolio review of my own work.

Again, I'm pretty happy with the point I made to my clients. I'm not saying you can't do very well listening only to what the IPC says, although my own clients happened to do better and I didn't follow the IPC (strictly using AdSol as the paradigm for evaluation).  I'm saying that you can't simultaneously say that they "don't look at the quality of investments you use" and "there was someone ... looking over your shoulder". That's a non-sequitor.

Cheers.

[quote=navet]

Jones is a good company, but not a great company. Their niche is basically as a bottom feeder. They take almost anyone as a customer and almost anyone as an FA. Can you be very successful at Jones? Sure. But bottom feeding causes a certain lack of confidence that leads to kool-ade type of personality problems. Same thing I see with a lot of born agains'. Thus we are subject to comments from folks like spiffy, who are so unsure of themselves and their company that they feel threatened by negative comments.

[/quote]

I've had more than one go-round with Space, both on religion and Jones. I can't see anyone suggesting that a> Space is in anyway unsure of himself or b> threatened by people online.

And as a born-again Christian and an ex-Joneser, I think the one thing Space and I would agree on it's that we welcome self-examination with an open mind, but with the ultimate confidence we have chosen the right way. And we are both right.

  Can I have a copy of the letter, I am going Indy in a few weeks!!!

your bd will provide you with one that has been approved by their compliance department. Problem is, if you are leaving Edward Jones, they more than likely haven't taken into account your complete agreement you signed.

I didn't bother sending a letter. It creates, however minor, legal complications that you were soliciting your former clients for the most absolute minimal gains. Really ... how many of your clients respond to letters? And the ones that might have responded to your letter, would they have responded to your leaving anyway?

Do the right thing, stay the course of being honorable and honor your contract in spirit and fact. You'll sleep better.

When I left I could only contact them by mail and followup to see if they got the letter. If they engaged me in dialogue, I was within the law to repsond.  You are not allowed to soliciit the clients. Essentially whatever is written you can say.

You will still get the letter from home office. But unless you are blatantly soliciting, in time, it all works out.

If you did a good job of selling yourself, it's a non-issue. They will follow.