Jones Help, Dinner with Reg.Leader, Expectations?
I am Meetiong with the Regional leader and another couple for dinner. What should I expect from this meeting? I am finishing my study and take the 7 mid Feb., and and all advice greatly appreciated.
DC…Meeting
Relax, have fun. It’s not going to be another interview. They want to get to know you. Just enjoy the dinner and the conversation.
Yeah - there’s absolutely no pressure at these dinners. This is one of the things that Jones does really well. Don’t impress, just enjoy!
Any ideas regarding proper attire, suit, bus. casual? I mean it’s a steakhouse? I wouldn’t usually dress in a suit for a steakhouse.
ps Thanks spiffDon’t get drunk. Don’t be late. Don’t hit on the rl’s wife. Don’t try to over impress- you have the job.
It's a good time to ask some questions but just relax and have a conversation. Ask a vet in your area about dress. I'm sure each is different but I would suggest at least shirt and tie. You can't overdress. If it's a work day then the RL will be coming from work so he will probably be wearing a suit himself.At least suit & tie… What would you suggest at most? We took off our ties at mine & he took off his blazer before he sat down. His wife is/was really beautiful… I ran into him the other week at a restaurant & it was the same thing. Blazer on the back of the chair & no tie.
[quote=DCnew]Any ideas regarding proper attire, suit, bus. casual? I mean it’s a steakhouse? I wouldn’t usually dress in a suit for a steakhouse.
ps Thanks spiff[/quote]You can't go wrong with a top quality sportcoat, slacks, good shoes, and a collared shirt. Might be a slightly underdressed if the other guy comes in a suit, but not much.
Let the koolaid drinking begin!!!
Koolaid? At a steakhouse? In any event, thanks all. I will probably do the blazer/collared shirt/ nice shoes route, but I’m still up for additional advice.
good lord, relax. sportcoat and dress slacks is plenty.
Don’t hit on rl wife–damm, I knew I screwed something up!
Dcnew, have fun and don’t worry about it!
Make sure that your wife doesn't wear the same dress as the RL's wife. Had this happen at a summer regional meeting one time and the RL's wife had the nerve to ask the newbie's wife to change. When she refused, the RL's wife was livid. I got a picture and sometimes would like to email it to all of the Jone's guys and gals in the region. Have fun and eat the most expensive thing!!
YES…by all means order the biggest most expensive steak and the finest bottle of wine.
Unless you have 6 pack abs, I'd at least add a shirt and some shoes to the wardrobe. The typical Jones business meeting is shirt and tie. But if you go in your oxford shirt, sportcoat, and dress pants, you'll be fine. Remember, the RL isn't going to be investing any money with you. You don't really need to impress him/her with your wardrobe. They're going to talk about your background, your hobbies, the market, shopping, food, trips, kids, locations, etc. They're not going to grill you on your grasp of MPT. If you don't know what MPT is, good. Don't worry about looking it up before your dinner. The other couple will probably be your region's mentor coordinator or the new mentor they've assigned to you. Possibly another new Jones FA. Who knows. Like I said, don't worry too much about it. Jones is picking up the tab so don't be shy on what you order. The RL isn't paying for it either, so he won't worry about what he orders. Hopefully your wife with click with the RL's wife and they can have their conversation while you and the RL have one of your own. Enjoy.good lord, relax. sportcoat and dress slacks is plenty.
Relax, have fun. It’s not going to be another interview. They want to get to know you. Just enjoy the dinner and the conversation.
I dont think relaxing when u are with ur boss is a good idea. They'll be watching u like a hawk in the sky. Your table manners, how much u drink, enthusiasm abt ur job etc. You'd be a fool to relax when u are under scrutiny.
Of course it's not happy hour with your buddies, but it's not a job interview either. He already has the job. The RL isn't his boss. They really do just want to get to know him. So, I would certainly tell him to relax and enjoy the free meal.
Ditto to Spiff. Been there…done that.
I know all about the MPT, but you’ll never have to regurgitate it to any Clients/prospects, DCnew.
Once you're licensed, all you need to be able to do is find the American Funds Sample Portfolios. (And don't forget, sell A shares!) I still can't believe people pay us as much as they do to invest their money for them.[quote=Spaceman Spiff]
Of course it's not happy hour with your buddies, but it's not a job interview either. He already has the job. The RL isn't his boss. They really do just want to get to know him. So, I would certainly tell him to relax and enjoy the free meal.
[/quote] "Free meal"? Spiffy, are you assuming, again?[quote=DCnew]I am Meetiong with the Regional leader and another couple for dinner. What should I expect from this meeting? I am finishing my study and take the 7 mid Feb., and and all advice greatly appreciated.
DC[/quote] First things first. 1. Expect to stand up in a crowded restaurant and sing your college fight song. 2. You should expect a test on the Capital Asset Pricing Model and how Modern Portfolio Theory should be followed. 3. You should be able to explain a core and satellite portfolio. 4. You must be able to explain Alpha, Beta, Gamma and Delta and don't forget Epsilon. ******************** Just have a good time.....Lol, thanks all. I’m excited about undertaking this new season of life in my career choice. Although perhaps current market conditions are not ideal; I am of a perserverant mindset and unparalelled work ethic, both of which I have come to understand are essential assets for a new FA(along with a little luck and a lot of sweat). I appreciate the outpour of knowledge and encouragement to enjoy the occasion, and look forward to asset gathering in '08!
DCDon’t worry about what the market is doing right now. It’s an asset gathering game. It will actually be more difficult to gather assets in a good market than bad. If it weren’t so dang cold here in the midwest I’d love to be spending 3-4 hours a day doorknocking right now, just to talk to people. I’m about to go against my nature and start cold calling.
It always makes me smile to read about the lastest Jones newbie with their "unparalleled" work ethic. I have to believe that none of these guys has ever ridden an emotional roller coaster like they're about to climb into. Although 90% of those who attempt to make a living in this business fail, I wish you the best of luck, D.C.…I am of a perserverant mindset and unparalelled work ethic, both of which I have come to understand are essential assets for a new FA(along with a little luck and a lot of sweat).
down markets are better markets to enter as an advisor. nobody wants to hear from a new broker when things are flying high. much easier to grab clients in a down market.
Thanks all, BB I have worked straight commission for the past five years. I have sales experience for the past 8, and am not the typical new college grad. I AM excited and passionate for such an opportunity and worked my butt off to finish my degree to “qualify” myself to persue such a position. Although the industry doesn’t mandate a formal education, I couldn’t look myself in the mirror knowing that I was managing someones future financial security without the proper preparation. I appreciate the wish of luck, hope this better clarifies
DCIt appears that you have a solid background. I’d never been in sales before this job, but I think it’s important to differentiate between working for an established company and getting paid based on the products you sell, and opening a financial services office with little to no client base and having to essentially build your business from the ground up.
Sure, Edward Jones is a well-established company and has received numerous accolades over the years, but in two years, I have yet to have a person walk in my office and do business with me because I have Edward Jones on my front door. Most of the people in my town had not heard of Edward Jones until I began beating the bushes and getting the word out. It's a huge bonus that you know how to survive on variable income; however, for several years, you'll be selling yourself (credibility, respect, integrity, knowledge, etc.) to folks and trying to get them to entrust you with their money. Everyone in this business has access to the same products. (Except that we can't sell those high-commission-paying equity-indexed annuities. Dang it!) You're job is to get them to stop doing business with the guy they've been using for the past 20 years, and begin buying those invesments from you.[quote=Borker Boy]
Sure, Edward Jones is a well-established company and has received numerous accolades over the years, but in two years, I have yet to have a person walk in my office and do business with me because I have Edward Jones on my front door. Most of the people in my town had not heard of Edward Jones until I began beating the bushes and getting the word out. It's a huge bonus that you know how to survive on variable income; however, for several years, you'll be selling yourself (credibility, respect, integrity, knowledge, etc.) to folks and trying to get them to entrust you with their money. [/quote] That sure is a shame that you haven't recieved any clients because of the firm you work for.. I work for the same firm (Jones) and I get calls from clients that looked me up in the yellow pages, walked past my store front and such.. Having the Jones name has helped me open new accounts.. Also has helped me transfer accounts from other EDJ FA's.. I think the point you are trying to make is a good one.. But your first comment about EDJ is not accurate.. Maybe it is a correct statement in your market but in most METRO places it still holds weight. Just a thought.. Miss Jworked for 4 different firms in my time before going indy, and Jones is the only place i ever worked where people called me routinely for info (people i had never met previously). opened 5-10 accounts in 1 year from the Jones name alone. i know it makes a difference where you are. i am in the midwest.
[quote=DCnew]I am Meetiong with the Regional leader and another couple for dinner. What should I expect from this meeting? I am finishing my study and take the 7 mid Feb., and and all advice greatly appreciated.
DC[/quote] Is this a Compliance approved event????? just kiddingeat and enjoy[quote=doneWjones]Let the koolaid drinking begin!!!
[/quote] I had to laugh at that one...pretty good.[quote=MISS JONES]
That sure is a shame that you haven't recieved any clients because of the firm you work for.. I work for the same firm (Jones) and I get calls from clients that looked me up in the yellow pages, walked past my store front and such.. Having the Jones name has helped me open new accounts.. Also has helped me transfer accounts from other EDJ FA's.. I think the point you are trying to make is a good one.. But your first comment about EDJ is not accurate.. Maybe it is a correct statement in your market but in most METRO places it still holds weight. Just a thought.. Miss J[/quote] I don't live in a METRO area. My town has a population of 7,500 and is 60+ miles from a town with a larger population. The prospects I meet with don't know what mutual funds are--much less a benchmark--so I literally have to start at the most basic of concepts when explaining my ideas for their portfolios. As I said before, the name Edward Jones means nothing in my area. After being with Jones for a couple years, the local sheriff asked me why I would want to leave the highway patrol to go sell insurance. (Actually, I guess he was partly correct.) I stand corrected, Miss Jones, I have received a couple account transfers from Jones clients who have moved to town. However, I don't consider an existing Jones client who transfers their account as falling into the category of "brand recognition." They're just continuing an existing relationship with our company.[quote=Borker Boy]
As I said before, the name Edward Jones means nothing in my area. After being with Jones for a couple years, the local sheriff asked me why I would want to leave the highway patrol to go sell insurance. (Actually, I guess he was partly correct.) [/quote]Once again I need to point out that law enforcement employees are not the sharpest people around. So why are you so upset with car and tractor salespeople entering the business?
Quote: BB
However, I don't consider an existing Jones client who transfers their account as falling into the category of "brand recognition." They're just continuing an existing relationship with our company. Really? do you think you would received that client if you hadn't been with Jones? The more people know the name the better especially in your town. Hey call it what you want but I love it when clients move their assets to me from another out of town Jones office. Normally, I uncover additional assets and we all know that when you work at Jones you must find new money to survive. Miss JI get walk in business frequently. Probably a couple a year. One of my largest account, soon to be even larger, came to me because I was EDJ and close to his house. Since I’m in the shadow of the home office, most people I talk with have heard of EDJ. I don’t have to break the ice. Very rarely do I talk with anyone, except here, who says anything bad about Jones.
I agree with that. To this day, I have never heard a bad word uttered about Jones - at meetings with other Jones people, with my friends at other firms, or among clients. This is the only place I hear negativity about us (why I continue to read these posts is beyond me - I think it's the big-car-accident thing - you just have to see it). However, I also think it keeps me on my toes. Not much of what I read here enlightens me about Jones. Though I do read a lot about what it used to be like (or is like in other regions). For me, the benefits far outweigh the detriments (for now). That's why I keep an open mind and open ears.I get walk in business frequently. Probably a couple a year. One of my largest account, soon to be even larger, came to me because I was EDJ and close to his house. Since I’m in the shadow of the home office, most people I talk with have heard of EDJ. I don’t have to break the ice. Very rarely do I talk with anyone, except here, who says anything bad about Jones.
Frequently? C'mon Spiff, shouldn't frequently mean at least monthly? When I was at Jones I got a couple walk-ins a year as well, but in my 7 months indy, I've had 3 so I don't really think it had much to do with brand name.I get walk in business frequently. Probably a couple a year. One of my largest account, soon to be even larger, came to me because I was EDJ and close to his house. Since I’m in the shadow of the home office, most people I talk with have heard of EDJ. I don’t have to break the ice. Very rarely do I talk with anyone, except here, who says anything bad about Jones.
Frequently is definitely a relative term. 3 in 7 months is, I believe, out of the ordinary. Sounds like you’ve used up your quota for a while. Maybe you’ve just found yourself a better location than you had with Jones.
I left Jones 9 months ago after 15 years–there are two Jones offices in this farming commuity and I still get as many new accounts as I use to–because the people know me in town–it isn’t the brand name…I do believe it helps to have a brand name when you are new in this business–but if you are well known a brand name doesn’t help very much. Most people open and stay with you because you are you–not because you say here at Jones, UBS, SB ect…we are the best at what we do. That is the reason all the Indy’s go out of their own and the clients follow them…new people come to you because most of them were referred.
Absolutely true words. Usually anyone with money, when referring to their advisor, talks about them, not their firm. Some of them don't even remember the name of the firm, albeit Merrill, UBS, indy, Jones, whatever. To many clients, firm changes (when their advisor moves and they stay with them) are often irrelevant, as they trust their advisor. Now, the people that DON'T have much money ALWAYS remember their firm, because they have usually been shuffled around between brokers at the same firm. So all they know is the firm name, phone number and location - and sometimes the original person that set up the account. It's a funny dynamic.I left Jones 9 months ago after 15 years–there are two Jones offices in this farming commuity and I still get as many new accounts as I use to–because the people know me in town–it isn’t the brand name…I do believe it helps to have a brand name when you are new in this business–but if you are well known a brand name doesn’t help very much. Most people open and stay with you because you are you–not because you say here at Jones, UBS, SB ect…we are the best at what we do. That is the reason all the Indy’s go out of their own and the clients follow them…new people come to you because most of them were referred.
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