Freedom
I have now been gone from the Great Green Empire one week now. I have paperwork in on over 20% of assets in just 7 days in spite of that non-solict… I have been amused at Spaceman Spiff, keep spouting that St louis crap. I had a wholesaler from John Hancock that was showing their annuity. It is amazing to me the haircuts I was taking, I didn’t even realize the full extent at Jones. Spiff, where does that money go praytell? Does it help the new brokers? Do you think it goes to the GP’s?? I do.
It is eyeopening to walk out in the light. I look forward to helping as many of my former compatriots as possible to see the light.....Welcome to the darkside! Where did you end up?
Good for you, noggin. What was the last straw?
The last straw was how the firm handled the death of my RL.
Noggin-fantastic! You cannot believe how wonderful it will be. I know things will be tough for the short term, but keep looking forward! Don't let anything slow you right now. You'll be slandered---just know it and go on. Be a professional. Contrary to what Spiff says, those of us that have been beaten up and slandered unjustly by Jones have very thick skins. We just have very long memories. Thank God for elephants!
If I had to do one thing over again, I would give my clients three chances to move, and then move on. Get an attitude early! I took almost all of them from the Hillary Clinton that would take over my office (I was a new-new, so built it all from scratch), but grieved some over those few that stayed with the dumb liar girl. DON'T GRIEVE OVER THOSE THAT DON'T GET IT!
Spiff doesn't get it when it comes to other firms. I think he was in the PASS-(over) program. Don't spend anytime worrying about EDJ right now. I hope you are at a firm that will support you and treat you with the proper respect....not one that is a corporate cult. Google that...."corporate cult". See what you get. It's way fun.
Anyway... I'm happy for you. May God bless!I left a month ago–no problems from my region. all very supportive, friendly (except one), even RL completely polite and professional. had many questions about the RIA biz–wished me well,etc. see my posts—I have many many problems with jones, but there was also much positive stuff.
But of course hate, spite, resentment, and retaliation would be much more fun, guess I really am boring.Noggin-----Congrats!!! Life just got better for you!
Newnew---Maybe your RL will follow in your footsteps if he was that interested! It seems like there are a lot of people leaving based on the recent posts of people saying they left a week, month, couple of days etc... Maybe with the elevated price of sugar the kool-aide is getting bitter!Noggin,
I can't believe you left. You are making the mistake of your life. You'll never get it. You'll just never understand what you aer walking away from. And you will never get any more of your clients to leave. I'm sure they were all your worst clients. I bet you're already churning them, aren't you? That wouldn't have happened at Jones. We are the most ethical firm on the planet. Hey good luck, Noggin. I'd love to hear more when you have time. B24 p.s. To all the RR newbies, that was all a joke, so don't get started. You too, Spears.Noggin,
You will find several things: 1. You will most likely be demonized amongst your jones "friends" and the clients in your book by the folks at St Louis. It has happened to not all, but most of us. The implied misdeeds can be ugly. You have our support. 2. Some expenses will hit you in the beginning that you weren't expecting. These are one-time hits. They are no big deal. They don't compare to the career-long haircuts at jones. 3. You dont have to set your office up like a jones office..it might be comfortable at first, but read books and find a model that fits you and your clients. (Some guys/gals work from their homes and gross 800k/yr since leaving.) 4. Tech, tools and telecom-lots of choices that dont cost $1200 a month. Seek advice from several other indies that you know. You can get a lot for very little. Also, let the projones guys know via these posts how expensive and how far behind there tech and tools really are. 5. After the initial 2-3 months, you will have a lot more time for your family. 6. Keep your jones P&Ls. Some other jonesees will stop in to see you in a few months to tell you that you "think" that you are making more money but that you "really aren't". I loved these visits. Show them the several thousands of dollars each month that you are pocketing versus your jones statements so they can then ask, "Yeah, but who pays for the upkeep of your computers?" Congrats!!! You will be so much more balanced and happy. ------------------------------------------------------------------------------------------------------------- Brkr 24, LOL on previous post...you do know the script, glad you are a voice of reason and sanity in jones. Your list of tech/telecom...it's a ripoff. (Not attacking you, you are a great guy/gal) I can do more on my notebook while sitting at a Starbucks, or in my house, or at my office than your systems allow you. All for about $200/month. (including phone bill)Nog, welcome to the jungle…it’s been interesting to watch the light come on for you and I wish you well. Work hard for awhile and when the dust settles, come back and give us an update…
[quote=GoneIndy02]
Brkr 24, LOL on previous post...you do know the script, glad you are a voice of reason and sanity in jones. Your list of tech/telecom...it's a ripoff. (Not attacking you, you are a great guy/gal) I can do more on my notebook while sitting at a Starbucks, or in my house, or at my office than your systems allow you. All for about $200/month. (including phone bill) [/quote] Gone, we have E-mail for Chrisakes, bet you don't have that! And FYI, what the hell would lead you to believe that I may be a "guy/gal"? Isn't that what Spears is? I guess I have to work on my e-tone. I'm gonna go home and put on my wife-beater tee, drink a beer, and watch da' Bears.What the hell is this world coming too?? Another Indy…shit!! That’s all we need is another damn Indy…I wish you damn jones people would quit leaving…except for Miss Jones…
Noggin - Congrats! What b/d did you end up associating with?
Welcome to Indy World!
Thanks Spears, but you know I'll never leave.. I love my kool-aid stand! xoxo- Miss JWhat the hell is this world coming too?? Another Indy…shit!! That’s all we need is another damn Indy…I wish you damn jones people would quit leaving…except for Miss Jones…
I know you love it…and I love that you love it…and I know you love that I love that you love it…
Get a room, you two!!!
I don’t think that you know that I think you don’t know. ( – John Prine)
I think you know who you think you are, but I think they think you are what you want to be later. If you are now what you have hoped for then you can only be what you think you will become. That’s the truth.
Noggin - good choice on getting out of there. Having made the move I caution you to stay up on the transfers. One contentious point - the IRA accounts at Jones. I just watched an ex kool aid drinker make the move. He had a lot of VA’s in IRA’s at Jones. Jones was down as the co-owner due to the structure of the IRA account. There were a lot of extra fees. He had a hard time getting that stuff moved. Good Luck!!
Don’t let this scare you potential movers, Jonesites. It’s just a separate ACAT to change owner of the annuity. I moved many of them with no expense to the client. There is only one termination fee per IRA at Jones. The only other difference is it goes to Jones to sign off on change of ownership. I think some tend to over-dramatize this as Jones holding something over their heads, but I think it’s really because they just don’t understand the transfer/change of ownership process. Just beware it takes an extra 2 weeks, so the client will see the dollars disappear post-move on their statement, so you need to warn them!
Another thing you can do is if you intend to move in the future--go ahead and start delinking the IRA annuity from the IRA account--there is a form the client can sign at Jones to move it from the IRA to the client holding the IRA--Jones is still the broker/dealer but not the custodian.
Hi Noggin, welcome to the world of freedom. After a few months of transfering in the cream and leaving the clients you wish you never set eyes on with the next Jones guy, life will be good
Been busy with work and stuff. Been gone a while and it seems both a lot has changed on the forum and nothing much has changed. I'm back! /waveHey, Babs…good to see you again…seems someone even started a thread at one point asking where you’d gone…
Welcome back...[quote=Indyone]Hey, Babs…good to see you again…seems someone even started a thread at one point asking where you’d gone…
Welcome back...[/quote] Yeah, welcome back! There were all kinds of rumors about why you had disappeared: - Rehab - Jail - Took a sabbitical to work as Ralph Nader's campaign consultant. - Quit the business to work for The Emperor's Club. - Had Tom Cruise's love child. - Alien abduction (Hmmm, strange lights over Arizona and now you reappear.) - Took a gig as Trump's love toy. The only rumor that had any traction was the fourth one...So, how was Spitzer?[quote=babbling looney]Hi Noggin, welcome to the world of freedom. After a few months of transfering in the cream and leaving the clients you wish you never set eyes on with the next Jones guy, life will be good
Been busy with work and stuff. Been gone a while and it seems both a lot has changed on the forum and nothing much has changed. I'm back! /wave[/quote] It is good to have you back Girl!! It is amazing what I have to learn now that I have left the great Green Machine of the investing world.....I learned today that not all Kool-aid is green. I spent four years working in the shadow of my brother noggin and if he didn’t go and trump my exodus with his.
Left the Jolly Green Giant today, and I must say my parting was touching, seriously.
In all seriousness, did your RL or whoever you talked to turn into a monster and turn on you or did they let you part in good graces.
I was amazed at my RL who I considered a friend turned on me that day and proceeded to bawl me out for about 30 minutes when he knew I was trying to leave the right way. Then of course Chris Pickett gave me no "credit" for leaving the right way and having been a good member of the tribe. I had hoped they could at least have taken that into some consideration. It really soured my exit.[quote=doberman][quote=Indyone]Hey, Babs…good to see you again…seems someone even started a thread at one point asking where you’d gone…
Welcome back...[/quote] Yeah, welcome back! There were all kinds of rumors about why you had disappeared: - Rehab - Jail - Took a sabbitical to work as Ralph Nader's campaign consultant. - Quit the business to work for The Emperor's Club. - Had Tom Cruise's love child. - Alien abduction (Hmmm, strange lights over Arizona and now you reappear.) - Took a gig as Trump's love toy. The only rumor that had any traction was the fourth one...So, how was Spitzer? [/quote] LOL. Got bored. Got sick of the trolls. Got my IAR designation. Decided to actually concentrate on....gasp...work. Put everyone on a new cost basis system. (God that was a lot of research ) Remodeled the office. Made level 70 on 4 of my World of Warcraft characters and almost got keyed for Kara. . Eliott's ears are much to big for my taste. That doesn't quite translate the same as the foot size ratio.Source URL:https://www.wealthmanagement.com/forums/whats-firms/freedom