AG Edwards

search the site.  from what i have read they are a good alt to high priced brokers like merril and schwab.  ohh wait that was a commercial. never mind

Yeah AGE is a good firm.



That commercial is for TD Waterhouse.  The thing I never
understood about that commercial is that it says “high priced brokers
like merrill and schwab” but Charles Schwab is a discount broker! 
And TD wants to pretend it knows the brokerage industry?!!?

[quote=Scorpio]Yeah AGE is a good firm.



That commercial is for TD Waterhouse.  The thing I never
understood about that commercial is that it says “high priced brokers
like merrill and schwab” but Charles Schwab is a discount broker! 
And TD wants to pretend it knows the brokerage industry?!!?

[/quote]



Could it be possible–JUST POSSIBLE–that the message in the
commericial is an attempt to link Schwab with Merrill as being high
priced?

Anything’s POSSIBLE, Put.



But anyone who knows ANYTHING about the industry knows that Schwab and
Merrill are at complete opposite ends of the spectrum.  Who are
they fooling, 'ol Jim Bob down on the farm?  Does he have any
money to invest?

[quote=Scorpio]Anything’s POSSIBLE, Put.



But anyone who knows ANYTHING about the industry knows that Schwab and
Merrill are at complete opposite ends of the spectrum.  Who are
they fooling, 'ol Jim Bob down on the farm?  Does he have any
money to invest?

[/quote]



As a matter of fact “Ole Jim Bob” is probably a multi millionaire.



As for the Merrill Schwab dynamic–Schwab’s commission structure is closer to Merrill’s than it is Waterhouse.



There used to be an ad that showed J. Paul Getty rocking on the front
porch of a mansion.  The camera zooms in and he glances up and
says, "Thank you PaineWebber."



That was not his mansion, and in the fine print it said, "Mr. Getty was
paid for this endorsement.  He does not have first hand experience
with PaineWebber, Inc."



If you had been better educated–again, not your fault–you’d have been
taught that the point of advertising is to create images.

A new ad for “Kaufmann’s” that I just saw reads:  "Kaufmann’s -
The alternative to higher priced clothing stores like Saks Fifth Avenue
and The Men’s Wearhouse."



I guess you’re right, Put.  The point of advertising IS to create
images.  That ad isn’t rediculous at all now that you have
explained it to me.  You have taught me so much…

Can we get back to opinions of AGE?

[quote=nfs411]

Can we get back to opinions of AGE?

nfs411

Sorry for getting everyone off track with the joke about TDW's commercial. It just felt so right.

Search the site for AGE.  there is plenty of information on them.  basically from the site they are better than EJ and have not teamed up with a bank at this point.  they also seem to have good benefits.  no real sales quotas and give good support. Overall Put said it best that if you have an interview with them you should at least have gotten as far as to research them. 

There is also a board on financial-planning.com that is just ok compared to this one.  look there also.

Good luck with the interview at AGE.

For someone who is just starting out, or transferring from another career . . . the important thing is training.

Make sure you find out about their training program.  At RJ we have tons of face to face training and an e learning library of classes that is impressive.  I feel very prepared to do the best for my customers.  Honestly, the computer systems and back office support here is first class.

At the end of my interview process, I was down to either AGE or RJ.  Good luck.

[quote=maybeeeeeeee]

For someone who is just starting out, or transferring from another career . . . the important thing is training.

Make sure you find out about their training program.  At RJ we have tons of face to face training and an e learning library of classes that is impressive.  I feel very prepared to do the best for my customers.  Honestly, the computer systems and back office support here is first class.

At the end of my interview process, I was down to either AGE or RJ.  Good luck.

[/quote]

AGE has a great training program.

What level of production is expected out of a first year FC?

What is the average compensation paid out to a first year FC?

[quote=maybeeeeeeee]

For someone who is just starting out, or transferring from another career . . . the important thing is training.

Make sure you find out about their training program.  At RJ we have tons of face to face training and an e learning library of classes that is impressive.  I feel very prepared to do the best for my customers.  Honestly, the computer systems and back office support here is first class.

At the end of my interview process, I was down to either AGE or RJ.  Good luck.

Maybeeee...

What firm did you go with AGE or RJ and why?

[quote=Mario]

nfs411

Sorry for getting everyone off track with the joke about TDW's commercial. It just felt so right.

Search the site for AGE.  there is plenty of information on them.  basically from the site they are better than EJ and have not teamed up with a bank at this point.  they also seem to have good benefits.  no real sales quotas and give good support. Overall Put said it best that if you have an interview with them you should at least have gotten as far as to research them. 

There is also a board on financial-planning.com that is just ok compared to this one.  look there also.

Good luck with the interview at AGE.

[/quote]

The new regime has implemented sales quotas which aren't that bad but they reduce payout by 5% if you don't hit half of "Crest Club" after your fifth year or something equivalent if you're a transfer. 

Plus the new "Beta" system has the whole firm in a complete quandary as the software has difficulty interfacing with itself and positions in accounts are completely different depending on which interface you are using.

The firm will miss earnings estimates by a wide mark this quarter unless IBanking is doing ok because half the firm still isn't trading bonds due to the Bond One software being completely limp.

It's a nice firm, but it's cheap.  If you reduce your commissions but still do a high gross don't expect to be compensated at the 40% they quote you in the interview.  You're lucky to get 30.

There's no salary per se, after training they bump you off whatever you negotiated 25% a quarter and lop off your payout% at the same time.  If you do alright the branch manager will never see you again and you can go about your business however you see fit.  If you do not so good, then he will tell you to sign on the dotted line that you're about due for a firing.  That shouldn't be a problem though because half of the Edwards brokers are jumping ship and taking up front money to go to UBS/Morgan Stanley right now and you can inherit a chunk of assets, and if you're lucky they're not all in b-share products.

Thanks alot for your input. Have you worked for AGE in the past? You seem to be very knowledgeable about the firm…

[quote=goingnaked][quote=Mario]

nfs411

Sorry for getting everyone off track with the joke about TDW's commercial. It just felt so right.

Search the site for AGE.  there is plenty of information on them.  basically from the site they are better than EJ and have not teamed up with a bank at this point.  they also seem to have good benefits.  no real sales quotas and give good support. Overall Put said it best that if you have an interview with them you should at least have gotten as far as to research them. 

There is also a board on financial-planning.com that is just ok compared to this one.  look there also.

Good luck with the interview at AGE.

[/quote]

The new regime has implemented sales quotas which aren't that bad but they reduce payout by 5% if you don't hit half of "Crest Club" after your fifth year or something equivalent if you're a transfer. 

Plus the new "Beta" system has the whole firm in a complete quandary as the software has difficulty interfacing with itself and positions in accounts are completely different depending on which interface you are using.

The firm will miss earnings estimates by a wide mark this quarter unless IBanking is doing ok because half the firm still isn't trading bonds due to the Bond One software being completely limp.

It's a nice firm, but it's cheap.  If you reduce your commissions but still do a high gross don't expect to be compensated at the 40% they quote you in the interview.  You're lucky to get 30.

There's no salary per se, after training they bump you off whatever you negotiated 25% a quarter and lop off your payout% at the same time.  If you do alright the branch manager will never see you again and you can go about your business however you see fit.  If you do not so good, then he will tell you to sign on the dotted line that you're about due for a firing.  That shouldn't be a problem though because half of the Edwards brokers are jumping ship and taking up front money to go to UBS/Morgan Stanley right now and you can inherit a chunk of assets, and if you're lucky they're not all in b-share products.

Get somebody to explain what is meant by the term “Red Ink Draw” and how it relates to commissions earned.



Also go back and read what Scorpio had to say in this vein–the post
started with the great line, “No contract, this is not the NBA.”

[quote=Put Trader]Get somebody to explain what is meant by the term "Red Ink Draw" and how it relates to commissions earned.[/quote]

Poor ol' puttyndacrack is very familiar with "red ink." It is how he lives his life.

I went with RJ because:

-they have a day to day branch training program with the managers that is very strong.

-the home office training is excellent (just got back)

-you have a variety of employment options.  If you want to go INDY you can do that and still be a RJ employee.

We had a gal in our training class from AGE.  She said the only difference was the computer systems.  She felt the computer systems at RJ were far beyond those at AGE.

Also, people here are VERY happy.  I have not met anyone who is not.  Compare that to AMEX see AMEX.sux and you will find tons of unhappy employees.  Good luck

[quote=maybeeeeeeee]

I went with RJ because:

-they have a day to day branch training program with the managers that is very strong.

-the home office training is excellent (just got back)

-you have a variety of employment options.  If you want to go INDY you can do that and still be a RJ employee.

We had a gal in our training class from AGE.  She said the only difference was the computer systems.  She felt the computer systems at RJ were far beyond those at AGE.

Also, people here are VERY happy.  I have not met anyone who is not.  Compare that to AMEX see AMEX.sux and you will find tons of unhappy employees.  Good luck

So, dork knob Put why don’t you enlighten us on the training program you have at AMEX???  We have three former AMEX reps here SO I KNOW.  There is no training.  Just a phone and a cube.

[quote=maybeeeeeeee]So, dork knob Put why don’t you enlighten us on the
training program you have at AMEX???  We have three former AMEX
reps here SO I KNOW.  There is no training.  Just a phone and
a cube.[/quote]



Nonsense, the most common thing we hear when hiring them is that they
got extensive sales training, but that they did not like the limitation
on the product line.



The complaints against AEFA are legendary–inappropriate sales and poor performing funds.



But one thing everybody who knows anything about the industry knows is
that it is one of the premier sources of well trained kids who are
prospecting machines.

[quote=maybeeeeeeee]

-you have a variety of employment options.  If you want to go INDY you can do that and still be a RJ employee.

[quote=Put Trader]But one thing everybody who knows anything about the industry knows is that it is one of the premier sources of well trained kids who are prospecting machines. [/quote]

It's not like you can teach them anything about prospecting, since you're a failed planner.

So what's the afternoon movie at the adult day care center, puttyndacrack?

[quote=Roger Thornhill]

[quote=Put Trader]But one thing everybody
who knows anything about the industry knows is that it is one of the
premier sources of well trained kids who are prospecting machines.
[/quote]

It's not like you can teach them anything about prospecting, since you're a failed planner.

So what's the afternoon movie at the adult day care center, puttyndacrack?

[quote=Put Trader] I suspect somewhere around 88, perhaps 87.  Any lower and you wouldn't be able to figure out how to put things on a website, but any higher and you'd be bright enough to grasp the concept known as immaturity. [/quote]

Since you don't grasp it, I guess you're admitting that your own IQ is somewhere South of the temperature of warm spit.

This is not surprising.

Here Put once ago shows himself as someone emerged in the past who doesn't know anything about the business today.

There is VERY little focus at the real firms (not AMEX) at hiring kids out of college.  With the DO Not Call rules, they are not effective.  Also, guess what??? it is not fair to people to use them, abuse them, and then shove them out the door and take all of their best clients.

See Put, what you Put out in life comes back to you.  Treat people or rookies or clients like sh** and it will all come back and hit you right between the eyes.  Good think you walk around in the dark.

[quote=maybeeeeeeee]

Here Put once ago shows himself as someone emerged in the past who doesn’t know anything about the business today.

There is VERY little focus at the real firms (not AMEX) at hiring kids out of college.  With the DO Not Call rules, they are not effective.  Also, guess what??? it is not fair to people to use them, abuse them, and then shove them out the door and take all of their best clients.

See Put, what you Put out in life comes back to you.  Treat people or rookies or clients like sh** and it will all come back and hit you right between the eyes.  Good think you walk around in the dark.

[quote=maybeeeeeeee]

Here Put once ago shows himself as someone emerged in the past who doesn’t know anything about the business today.

There is VERY little focus at the real firms (not AMEX) at hiring kids out of college.  With the DO Not Call rules, they are not effective.  Also, guess what??? it is not fair to people to use them, abuse them, and then shove them out the door and take all of their best clients.

See Put, what you Put out in life comes back to you.  Treat people or rookies or clients like sh** and it will all come back and hit you right between the eyes.  Good think you walk around in the dark.