Attention Jones Employees

[quote=jonesescapee]This just in…Weddle just ordered email for every office to be completed by the end of August![/quote]

Fixed your post

[quote=Maxstud] [quote=jonesescapee]This just in…Weddle just ordered email for every office to be completed by the end of August 2045![/quote]

Fixed your post
 

jonesescapee

NEWS FLASH  -  dumb ass.  All independents sued for actaully believing they are worth 2% in mgmt fees.    Keep on believing!

[quote=success]

jonesescapee

NEWS FLASH  -  dumb ass.  All independents sued for actaully believing they are worth 2% in mgmt fees.    Keep on believing!

[/quote]

It's likely closer to 1%.  Besides, it's not what he thinks he's worth, it's what his clients think he's worth!

[quote=success]

jonesescapee

NEWS FLASH  -  dumb ass.  All independents sued for actaully believing they are worth 2% in mgmt fees.    Keep on believing!

[/quote]

suckcess

it's what the industry does......well...except for Jones. But then again Jones is not considered part of true financial industry. Keep pushing those 30 year 4% bonds.

gone indy and jonesescappe,

your clients think what you tell them, thats why they are sitting in front of you.   I am glad I am not like the "industry".  tell me how an index annuity is good.  some in the "indsutry lilke it.

SUCK

what is an index annuity?

I like it when jones employees call other brokers “dumb ass”.

may dumb ass was too harsh.  I just hate it when people tal about jones as if they are  a horrible firm.  We’re not.  We fit for some people.  If you want to make 200k yr, set your own hours and dont want to hassle with the all the stuff of owning your business, thats should be fine.  however, the average, not all, but the average broker going indep. does not have a huge book and is looking for a way to increase revenue w/o working anymore.  more payout ,less assets. 

Is THAT what we did when we left Jones? *HIT.

You mean all the paperwork - account opening - transferring - marketing - branding - calling - paperwork - filing - transferring - speaking engagements we've just done for the last 9 months has been because we DONT want to work anymore?

Then I guess I'm taking the rest of the week off.

[quote=success]may dumb ass was too harsh.  I just hate it when people tal about jones as if they are  a horrible firm.  We're not.  We fit for some people.  If you want to make 200k yr, set your own hours and dont want to hassle with the all the stuff of owning your business, thats should be fine.  however, the average, not all, but the average broker going indep. does not have a huge book and is looking for a way to increase revenue w/o working anymore.  more payout ,less assets.  [/quote]

Is a high school diploma required at Edward Jones?  Where did you hone your excellent writing skills?

I was wondering the same thing Maybee...

That being said, I do wonder sometimes why certain people on this forum are so down on Jones.  We have a few Jones folks locally.  They have a niche.  Smaller accounts and rollovers.  I've noticed that the typical Jones customer is very loyal.  I assume they do an adequate job given what they have to work with. 

Would I work there?  Don't think so.

[quote=success]

gone indy and jonesescappe,

your clients think what you tell them, thats why they are sitting in front of you.   I am glad I am not like the "industry".  tell me how an index annuity is good.  some in the "indsutry lilke it.

[/quote]

"My clients think what I tell them and that's why they are sitting in front of me?"  Suckcess, that's got to be the dumbest thing you have said in a long time.  How long have you been in this business?  I prefer to work with people that think for themselves, unlike those of you at Jones!

[quote=success]may dumb ass was too harsh.  I just hate it when people tal about jones as if they are  a horrible firm.  We're not.  We fit for some people.  If you want to make 200k yr, set your own hours and dont want to hassle with the all the stuff of owning your business, thats should be fine.  however, the average, not all, but the average broker going indep. does not have a huge book and is looking for a way to increase revenue w/o working anymore.  more payout ,less assets.  [/quote] Suck

You sound pretty new to Jones. You are repeating everthing that the GP's told me and thousands of other employees(set your own hours , make 200k per year, not have the hassles of owning a biz etc.....) First off the average employee makes approx 100k. Second, indys set their own hours too and last you have just as many hassles as an owner. Someday maybe you will wake up and figure out that you are the GP's little bit@h.

[quote=success]may dumb ass was too harsh.  I just hate it when people tal about jones as if they are  a horrible firm.  We're not.  We fit for some people.  If you want to make 200k yr, set your own hours and dont want to hassle with the all the stuff of owning your business, thats should be fine.  however, the average, not all, but the average broker going indep. does not have a huge book and is looking for a way to increase revenue w/o working anymore.  more payout ,less assets.  [/quote]

This is funny.  Do the GP's actually have you convinced that it is better to work harder for less money?  That's some strong kool-aid in action folks. 

Whenever someone at a regional meeting said something especially stupid, my old regional leader used to tell them, " could you say that again for the young IR's...[then to the "young" ir's] you folks need to write this down."

Success, could you say that again...I think there are some new folks who need to write it down.

[quote=exdrone]

[quote=success]may dumb ass was too harsh.  I just hate it when people tal about jones as if they are  a horrible firm.  We're not.  We fit for some people.  If you want to make 200k yr, set your own hours and dont want to hassle with the all the stuff of owning your business, thats should be fine.  however, the average, not all, but the average broker going indep. does not have a huge book and is looking for a way to increase revenue w/o working anymore.  more payout ,less assets.  [/quote]

This is funny.  Do the GP's actually have you convinced that it is better to work harder for less money?  That's some strong kool-aid in action folks. 

Whenever someone at a regional meeting said something especially stupid, my old regional leader used to tell them, " could you say that again for the young IR's...[then to the "young" ir's] you folks need to write this down."

[/quote] exdrone

I think I had the same RL as you did.

exdrone, jonesescapee, unless we were all in the same region - it's the same speech the RL's are giving everywhere. That and when someone leaves Jones....

"He wasn't the kind of person who belonged here - but we retained the lion's share of the assets from THAT office."

Success-Are you success1 reincarnated (Holder-GP)?

Jones is a good firm for individuals who have no money and would like an opportunity to get started in the financial services industry.  I know of a Jones IR that was donating blood plasma and living in his storage room in his Jones office because he wasn't making enough money.  Eight years later he is going on trips, making $8k/net a month and is thinking he might be able to go indy. 

Going Indy was scary because Jones does tell you that you will only keep 50-55% of your book.  Realistically I have been indy for 5 months and I have transferred 60% of my book and have another 10% committed.   The other 30% i don't think will come over.  By the one year mark I think I will be at $42 million.  About $10 million less than when I left Jones.  I will be making about 1% on that money so I will be making a hell of a lot more money with the same freedom I had at Jones.

My wife and I have made a list of our own Supertrips for the next 5 years and we will be taking one a year.  I will not be taxed and I won't have to deal with Maritz overcharging me.

Bottom Line__________More in my pocket after tax as a Business Owner than an Employee!

[quote=success]may dumb ass was too harsh.  I just hate it when
people tal about jones as if they are  a horrible firm. 
We’re not.  We fit for some people.  If you want to make 200k
yr, set your own hours and dont want to hassle with the all the stuff
of owning your business, thats should be fine.  however, the
average, not all, but the average broker going indep. does not have a
huge book and is looking for a way to increase revenue w/o working
anymore.  more payout ,less assets.  [/quote]



Hmmm. the average acct size at Jones is $50k.  To do $200k in
income, you would probably need $50M in assets?  That’s 1000
accounts.  Can you really service 1000 accounts the way someone
who is indy can (who can make $200k with half the assets)?



Jones has a niche.   Indy has a niche.  Let’s stop fighting and get along!

Like Rodney King said, "Can't we all just get along."

No kidding.  Some people like the company, some don’t.  At the end of the day, I don’t really give a crap. 

No kidding. Some people like the company, some don’t. At the end of the day, I don’t really give a crap.

“He wasn’t the kind of person who belonged here - but we retained the lion’s share of the assets from THAT office.”

[quote=Incredible Hulk] [quote=BrokerRecruit] No kidding.  Some people like the company, some don't.  At the end of the day, I don't really give a crap.  [/quote]

You don't give a crap? Then why are you calling me with reasons to leave EDJ and go elsewhere? Don't you pay your bills by either finding brokers who don't like their company or "helping" them realize they are unhappy?
[/quote]

Why the chip on your shoulder for recruiters?  Seems like you have some issues on this topic. 

The fact is IH, there are 500,000+ brokers across the country.  In a given year, I'll maybe talk to 2000.  Taking Jones out of that equation, that leaves me with around 490,000+ to call.  Why waste my time calling morons like you?  I don't know when the last time I cold-called an EDJ rep was. 

At least I'm not knocking on doors trying to get reps to move, right?

Let me explain a few things and some may penetrate your head - I'm a pretty laid-back guy.  I don't put any unnecessary pressure on any rep to move.  It's their decision and there is not a ton that I can do to sway them except for being an educator.  When I place a mutual fund manager, I actually try to talk them OUT of the position, to ensure they are moving for the right reasons and are serious about it.  The worst thing I can do is be a "headhunter" and think in a transactional manner (transactional - that word must sound familiar to you) where I am moving someone to make a buck.  The relationships I maintain have been maintained for some time and I look to continue to build those and create value, not have someone move and then leave 3 months down the road.  It was then a waste of time for me and them, and then the company is screwed.

Seriously, I'd like to know why you're so down on guys like me.  Is it because I probably make more money than you?  Or because you have mainlined the kool-aid for the 3 months you've been in production that you are too stupid to understand that Jones is not the best place for everybody?  It may be for you, and that's freakin' sweet, but for those that left and are happy because of it, it wasn't. 

You may like steak but your wife (husband, life-partner, whatever it may be) doesn't.  Does that make them a moron?  No.  Different strokes for different folks.

So go knock on some more doors, snort a couple of lines of Jones propaganda, and worry more about doing right by your clients, and less about what others think or do?  Good talk.

This is what was said about spiked… would you disagree?

In our tenure at Jones, my Rep was on Leadership Team from very early on until our departure. I was privy as are most BOAs to conference calls, RAM meeting notes, confidential wires, phone calls etc.

That said, I can tell you if Spiked is not the kind of guy who was not "welcome at Jones" then you can take 90% of the Senior Vets from the region WE were in, and lump them in that category as well. This is the kind of stuff they are still doing today. (3 of whom were/are Managing Partners Conference attendance winners)

In fact, our own RL boasted at a RAM meeting how he had written a letter  of complaint to the NASD for a prospect to get her out of B shares without CDSC, so she would transfer the account to him and he could re-invest her money. Probably the biggest sin of all.

Maybe you aren't seeing this sort of thing in your region, but I know I've seen it. This is the kind of double speak, "talkin out your neck" my Rep and I grew tired of at Jones.

[quote=BrokerRecruit]Why the chip on your shoulder for recruiters?  Seems like you have some issues on this topic.  [/quote]

BR,

I have to apologize. When we were at Jones - had a few recruiters call over the years. We referred to all as "headhunters". They'd phone in, pretend to be interested in talking about a stock/account, get me to transfer to my Rep - then solicit to move to Wachovia/Citigroup etc.

We started becoming pretty brutal. Sorry if that ever was you. 

I don’t like misleading people.  I’ll usually was up-front with the BOA.  Sometimes it worked, sometimes it didn’t.

Well, I got better at my "grilling" skills because of it. She'd come flying out of her office and I'd get yelled at for letting the call slip through.

I'd be sitting at the front desk cursing under my breath...damn recruiters.

Ok people,

It's pretty simple...I did some things at Jones that my mentor taught me.  I didn't know how to spell mutual fund before I passed my series 7, but I do know how to sell.  I do know, that as a salesman, you have to ask questions, understand people's needs, and then reccommend a product that will fit there need. 

As a finanancial advisor, it's a whole different animal.  You have to ask questions, understand the person's situation, assess risk, quantify the amount of risk, and run the numbers.  On going meetings and re-balancing are also a huge part of the plan.

At Jones they teach you how to sell.  For 8 years I sold products.  Now I am more of a consultant.  It's hard to believe (for the Jones kool-aid sipper) but the people that are transferring their accounts to me from Edward Jones continually say, "now you don't have to sell the stuff Jones tells you to sell, right?...I always felt like when you were at Jones that you were just telling us what the company was telling you." 

Spiked:

This will be another comment that they will be unable to understand.

[quote=spikedkoolaid]

Ok people,

It’s pretty simple…I did some things at Jones that my mentor taught me. I didn’t know how to spell mutual fund before I passed my series 7, but I do know how to sell. I do know, that as a salesman, you have to ask questions, understand people’s needs, and then reccommend a product that will fit there need.

As a finanancial advisor, it’s a whole different animal. You have to ask questions, understand the person’s situation, assess risk, quantify the amount of risk, and run the numbers. On going meetings and re-balancing are also a huge part of the plan.

At Jones they teach you how to sell. For 8 years I sold products. Now I am more of a consultant. It’s hard to believe (for the Jones kool-aid sipper) but the people that are transferring their accounts to me from Edward Jones continually say, “now you don’t have to sell the stuff Jones tells you to sell, right?..I always felt like when you were at Jones that you were just telling us what the company was telling you.”

No, Incredible, it's not hard to believe. 

Not at all.

[quote=Incredible Hulk] [quote=spikedkoolaid]

Ok people,

It's pretty simple...I did some things at Jones that my mentor taught me.  I didn't know how to spell mutual fund before I passed my series 7, but I do know how to sell.  I do know, that as a salesman, you have to ask questions, understand people's needs, and then reccommend a product that will fit there need. 

As a finanancial advisor, it's a whole different animal.  You have to ask questions, understand the person's situation, assess risk, quantify the amount of risk, and run the numbers.  On going meetings and re-balancing are also a huge part of the plan.

At Jones they teach you how to sell.  For 8 years I sold products.  Now I am more of a consultant.  It's hard to believe (for the Jones kool-aid sipper) but the people that are transferring their accounts to me from Edward Jones continually say, "now you don't have to sell the stuff Jones tells you to sell, right?...I always felt like when you were at Jones that you were just telling us what the company was telling you." 

[/quote]

You apparently have yet to learn to spell recommend or financial. You are correct in saying that it is hard to believe that your clients would say something that ridiculous.[/quote]

Nice comeback with the spelling thing Hulk you showed him.

As for the rediculous part, CS was right you Jones dudes just dont get it.

[quote=Incredible Hulk] [quote=Devoted SA]

"He wasn't the kind of person who belonged here - but we retained the lion's share of the assets from THAT office."

[/quote]

This is what was said about spiked... would you disagree?[/quote]

Incredible,

You seem like a decent person and someone who can discern truth from fiction. So I want to tell you a true story:

There was a new guy in my Region who came from a somewhat 'agressive' background. While in his Mentor's office one day-getting trained- he happened upon a letter inviting the IR to bid on a very large 401K plan. The new guy took a copy of the letter, called the contact person and asked if he too could bid on the account. He submitted a bid 2 days before his Mentor.

Neither broker got the account and Jones had a 'black eye' over the incident.

When the deed was exposed, the IR lied and said he got the lead from a Networking group. Eventually the truth came out and he was verbally reprimanded.

Several months later, he became involved in a multi-level marketing sceme outside his employment with Jones. He used his fellow Jones IR's as his resouce center for recruitment. When asked about this activity, again he lied about the amount of money earned saying it was less than $500 per year when in fact the number was a hundred times that.... since he was struggling to reach Segment II after two years he said he needed the money to survive.

Before he was fired, he quit to join a team of a group at a Big Firm in town.

So far Incredible, is this the kind of person you would want to work with? When he left, the same was said about him. He even had to file Bankruptcy.

Low and behold- several Veterans left the Region to go Independant.

This very IR was RECRUITED back and in fact- a GP had to use a "silver bullet" to get past HR. This IR was given an office of OVER $75 MILLION in assets.

WHY!? There is a very interesting political reason they were hired back.

Since returning, they have already created problems by using a client list 'borrowed' from the Big Firm he was part of a team with AND poaching assets from his previous EDJ office-though another guy has been in there since his departure....

So, is this the kind of person who YOU would want to work with?

This is a true story. The U-4 confirms 8 jobs in 10 years. AND the GP who used the silver bullet has a U-4 that lists "UNEMPLOYED" prior to Jones....

There are some really great people at Jones. But there are plenty of these other types too.

And sometimes, it can be a compliment when they say "just weren't the kind of person we want in THIS Region...."

Food for thought. 

I don’t question the validity to your story. But, my assertion is that this is the exception and not the rule. By and large the brokers I am in contact with are on the up and up. This would include those who trained me and those I have trained. I am hopeful that this situation is contained to a particular GP and/or Region.



I’m just a local yokel from a small town in a mid size city. I’ll defend my position all day long or until I feel I have put my tail between my legs and turn.



It’s also fun to get a rise out of others occasionally.

That's why I like you.

I think it would be nice if it were contained to a particular GP/Region. AND hopefully, this IR is NO WHERE near you.

As for the Region I was in, this was far too often the norm. After RAM Meetings, I felt like I needed a shower.... and I quit when I could no longer look myself in the mirror.

[quote=Incredible Hulk]I don't question the validity to your story. But, my assertion is that this is the exception and not the rule. By and large the brokers I am in contact with are on the up and up. This would include those who trained me and those I have trained. I am hopeful that this situation is contained to a particular GP and/or Region.

I'm just a local yokel from a small town in a mid size city. I'll defend my position all day long or until I feel I have put my tail between my legs and turn.

It's also fun to get a rise out of others occasionally.[/quote]

Hulk, contrary to what you seem to believe, Jones has no corner on honest brokers.  As a profession, I find that our industry has more honest, hard-working professionals than most other occupations.  The dishonest just don't last.  Unfortunately, rogues in our business make a bigger splash.  If you'd just quit chug-a-lugging the kool-aid and look around, you just might find that all is clearly NOT as you have been told by your superiors at Jones.