Starting at Edward Jones

"How does starting your career with Edward Jones work?"

Two months - Study for the Series 7 and Series 63.  They provide all the materials and laptop for exams, but its self-study. 

One week - Know Your Customer class in St. Louis.  Role play door-knocking, mostly.  To qualify for KYC, you must pass the 7.  If you fail the first time, unless there are extenuating circumstances (near passiong score, mom died, Regional Leader is your Uncle), you will be fired.

Two months - Market Research.  Door-knocking in your community.  You will also do Branch Training (visit a vet's office and learn how the computer system works, how to enter orders, etc.) and Field Training (role playing contacts with a mentor).  During this time, you are not yet licensed to sell, but you are supposed to be making 25 contacts per day.

One week - Evaluation/Graduation.  You are finally licensed and will be calling 25 people a day trying to make a sell.  You will also get some basic training on investments.  To qualify for Eval/Grad, you need phone numbers of 125 people in your system that you have permission to call on an investment.

Four Months - First 120 Days in the Field.  More of the same - 25 contacts per day.  But now you are licensed, so you can do repeat contacts and actually talk about investments and (hopefully) make some money. 

One week - Profitability Development Program.  Similar to Eval/Grad, except now you have to 50 calls per day.  To qualify for PDP, you will have to meet a certain net commission.  Your net number will depend on whether you are a new broker, transfer, goodknight, or taking over an existing branch.

"When and how do they provide the office and asssistant? Cost to agent?"

To qualify for an office and Branch Office Administrator (call them a secretary or assistant and you will be castrated), you have to make it through PDP.  There is no cost to the agent, rent and BOA salary are covered by Jones.

"I take it after you bring in a certain amount of business that this offer is extended and wondering how  much that is?"

Interview process is two rounds.  First is a phone interview - very typical and only requires a basic command of the english language to get past.  Second is an in person interview - more questions, a role play sales call, and possibly even some door knocking.  Pass both and you are hired.

Good luck.  And remember this - Fortunately, Jones isn't as bad as the 5 or so obsessive Jones haters on here suggest, but unfortunately, it's also not as good as the 5 or so kool-aid drinkers insist.

Logan--

I know of a better Jones program.  Impregnate the daughter of a top producer.  Tell her you won't marry her unless her daddy "Goodknights" you......With bonus, trips, LP, production, etc. you'll be at 400K net in no less than 5 years.  Good luck!

Jonesnewbie…thanks for the info.  I asked this same question in the other forum and was giving nothing but harrasing remarks.  Your post is by far the most informative I have read yet.  Thanks for the info.

Better yet impregnate the daughter of a GP, and you have it made with a $60 mill office.

jonesnewbie, Thank you very much for the detailed reply reply.

[quote=ezmoney]Better yet impregnate the daughter of a GP, and you have it made with a $60 mill office.[/quote]

Eeeks...The wife wont go for that

Was interested in who the process worked more then any thing.

Presently taking my Life and Health class and gaining insight on if this is even the for me.  Thus, thanks all for the replies. 

Join the PASS program at the home office and then take over a $20 million dollar office…people in your region will be jealous you were “handed your business” but screw em.

Agreed, joseph but that person has to live with fact that they are a leech and don’t deserve any of their success…

PASS program will only work for you if you have some political connections.  Most of those chumps get nothing.  My best advise is don’t join the firm because the cards are stacked against you.  This firm I equate to is like working for the US Government.  The best of the best or never the highest paid.

Truth,



So “pick the firm where you make the most”. Is that what you are saying? Wow, that’s some great advice! I know several very successful brokers who have come out of the PASS program. Not all took over big books, but several did. The PASS program is a VERY good program for those younger college grads. Truth is clueless and just Jones Bashing as usual.



BPD



_________________________________________

The grass is GREENER where you water it!

That’s not what he said, you pimple.

PASS program will only work for you if you have some political connections. Most of those chumps get nothing. My best advise is don’t join the firm because the cards are stacked against you. This firm I equate to is like working for the US Government. The best of the best or never the highest paid.

If I had to guess, I’d say he meant what he said.  But that’s just me.  I don’t try to twist the words of others.

Philo,



Sounds like you have a lot to say in the three posts you have made so far. You’re off to a great start!

If you ever post anything worthy of debate, I’ll have more to say.  Given the level of ignorance and the base demeanor that you’ve displayed so far, I’m not too worried about that ever happening.

Did you say debate…



…OK I’ll play along.



Let’s say you’ve got a 45 year old couple making $250,000/yr in income, plans to retire at 60 years old, doesn’t like paying taxes and fully max their 401k plan each year. They have an existing portfolio of stocks and bonds that is high quality and well diversified. They have done their estate planning and already have enough life insurance to cover if one spouse should die and to cover any future estate taxes. What tax advantaged investment strategy for long term growth would you recommend for someone like this?

[quote=BigPayDay]Did you say debate.....

.....OK I'll play along.

Let's say you've got a 45 year old couple making $250,000/yr in income, plans to retire at 60 years old, doesn't like paying taxes and fully max their 401k plan each year. They have an existing portfolio of stocks and bonds that is high quality and well diversified. They have done their estate planning and already have enough life insurance to cover if one spouse should die and to cover any future estate taxes. What tax advantaged investment strategy for long term growth would you recommend for someone like this? [/quote]

ROFLMAO, yeah, that's the typical couple Jones brokers sell annuities to. Nah, it's not two people making $60k between them, not maxing their 401k and no other investments. Of course not....

[quote=logan]

How does starting your career with Edward Jones work?

When and how do they provide the office and asssistant? Cost to agent?

I take it after you bring in a certain amount of business that this offer is extended and wondering how  much that is?

Thank you kindly.

[/quote]

Why not consider a real, full service firm first?

Logan,



Try this site, Should answer most of your questions:



http://www.jonesopportunity.com/ir/en_GB/broker/



BPD

candy bar,

wah wah wah, we're picking on the firm that does what in the client's best interest.   Take you ball and go home.

[quote=BigPayDay]Did you say debate.....

.....OK I'll play along.

Let's say you've got a 45 year old couple making $250,000/yr in income, plans to retire at 60 years old, doesn't like paying taxes and fully max their 401k plan each year. They have an existing portfolio of stocks and bonds that is high quality and well diversified. They have done their estate planning and already have enough life insurance to cover if one spouse should die and to cover any future estate taxes. What tax advantaged investment strategy for long term growth would you recommend for someone like this? [/quote]

bpd,

Could you clarify something regarding this hypothetical situation:

Are they the average EJ client that doesn't read the WSJ like your buddy Mr. Bill ... I mean Mr. Hill claimed last year or just run of the mill gullible financially illiterate EJ prospects or are you trying to take them away from a true full service brokerage firm?

CJ,



You’re right we have dumb clients, over 6 million of them, that no other firm would want. We rig all the surveys, Fortune, Registered Rep, JD Power, etc. We’ve grown from 500 offices in 1982 to over 9500 offices today because of bad management. Our limited Partnership is a terrible investment that only has averaged 22% since 1990, more than double the S&P. We are the only firm that does revenue sharing, well not actually according to AMerican Fds SAI, they share revenue with the top 75 dealers that sell their funds. You have heard of American Fds, right? Yes, we are a terrible firm because we turn around and share that revenue with our advisors. And yes, we are the only firm who sells “A” VA’s. Yes you’re right. Seems to be a lot of interest on Jones on this board. Maybe the nay ayers are a little jealous? Hummmmm…



BPD



My pay out / total compensation last year was over 60%. Not bad for a non indy.

WOW!  You mean that indies can take a 20% paycut and work for the laughingstock of the brokerage industry????

DAMN RIGHT I'M JEALOUS!

NOT!

What's the matter Chump?  Can't get hold of anyone in St. Louis to tell you what to say now?

That's what I thought.

Have a nice life, Chump.

bpd,

someone has to deal with the trailer park trash, less distance for door knocking.  You have no HNW client programs. Some firms succed in spite of bad management your firm is a good example. Why else would dh voluntarily take a $3 million pay cut and tender his resignation.  10+ years in Canada and 5+ in the UK how big of burn rate in capital is occuring over there? gee the head of Canadian operations makes over $4 million in compensation and what sort of ROI do you have there. Third highest compensated executive is head of your "leading edge" technology  ..... you know the one that doesn't operate during heavy precipation between St. Louis and whichever branch you happen to be in.  And what about that week your firm was without communications in November ..... leading edge technology shouldn't require someone to go knock the snow off the dish so that a trade can be enterred???

Your comprehension is truly effected by watching the swirling blue water while you clean your own toilets, the SEC NASD NYSE and AG for Missouri never mentioned it wasn't proper to have revenue sharing.  What they stated is that your firm should not have mislead your clients by NOT informing them of the relationships you have with the preferred vendors.  By the way What's wrong with using Fidelity products, why doesn't your firm use them?

As for you total comp, what percentage of your brokers receives a 60% payout (according to your math)?

How's about all those "transfer brokers" .... DO THEY recieve a 60% payout in the first year or three? 

As far as us "dark siders" being jealous you couldn't be farther from the truth (well actually you never espouse anything but half truths) I think it's we pity the fools that remain and will get blindsided by your management (and you will get blindsided).  Whethter or you wake up is of no consequence to us, if we are able to help someone who is able to have free thoughts and quit the kool-aid well that's fine by us.

Ever wonder why your firm doesn't permit you to attend vendor functions with brokers from other firms, or at least doesn't allow wholsalers to invite EJ reps to their mixed functions?

Ever wonder why your firm hires "transfer brokers" from Primerica (once brain washed the second time around is even easier).

And you LP is nothing but a bond in drag, but you already know that.

"Ever wonder why your firm hires "transfer brokers" from Primerica (once brain washed the second time around is even easier)."

You're kidding, right? They poach from Primerica? Yeeecchhhhhh

[quote=eddjones654]

bpd,

someone has to deal with the trailer park trash, less distance for door knocking. You have no HNW client programs. Some firms succed in spite of bad management your firm is a good example. Why else would dh voluntarily take a $3 million pay cut and tender his resignation. 10+ years in Canada and 5+ in the UK how big of burn rate in capital is occuring over there? gee the head of Canadian operations makes over $4 million in compensation and what sort of ROI do you have there. Third highest compensated executive is head of your “leading edge” technology … you know the one that doesn’t operate during heavy precipation between St. Louis and whichever branch you happen to be in. And what about that week your firm was without communications in November … leading edge technology shouldn’t require someone to go knock the snow off the dish so that a trade can be enterred???

Your comprehension is truly effected by watching the swirling blue water while you clean your own toilets, the SEC NASD NYSE and AG for Missouri never mentioned it wasn’t proper to have revenue sharing. What they stated is that your firm should not have mislead your clients by NOT informing them of the relationships you have with the preferred vendors. By the way What’s wrong with using Fidelity products, why doesn’t your firm use them?

As for you total comp, what percentage of your brokers receives a 60% payout (according to your math)?

How’s about all those “transfer brokers” … DO THEY recieve a 60% payout in the first year or three?

As far as us “dark siders” being jealous you couldn’t be farther from the truth (well actually you never espouse anything but half truths) I think it’s we pity the fools that remain and will get blindsided by your management (and you will get blindsided). Whethter or you wake up is of no consequence to us, if we are able to help someone who is able to have free thoughts and quit the kool-aid well that’s fine by us.

Ever wonder why your firm doesn’t permit you to attend vendor functions with brokers from other firms, or at least doesn’t allow wholsalers to invite EJ reps to their mixed functions?

Ever wonder why your firm hires “transfer brokers” from Primerica (once brain washed the second time around is even easier).

And you LP is nothing but a bond in drag, but you already know that.

And much like Pamela Anderson, there’s nothing real there!

Fool,



Yeh, you’d kick her out of bed too, just like you did Jones. Now you’re dissappointed. It’s a natural feeling that all IRs who have left Jones feel. Just listen to all of them on this board.



BPD

bpd,

Yes I'd kick pam out out of bed, she's got some real nasty hepatitis and been with way to too many rock stars.  Please note I don't have your firm in my name and you really sound like a candy bar .... your plenty nuts.

It's funy how we answer your questions yet you never seem to replay to our questions from the "dark side" .... 'cuz deep down inside you are scared that we are right.....

Ask a question.

Ok.  Here is a question for you.  Are you aware that those A and B share annuities that Jones has "packaged" specially for you don't contain the same mutual fund sub-accounts as the same annuity that is offered by the rest of the investment world?  Jones has companies...lets say Hartford, for example, package the annuities with the "preferred funds" and excludes the wider range of options that are included in the regular annuity.  You will find that if you are offering side by side with another agent, you will lose out, based on product selection.  Ask your wholesaler, who by the way doesn't represent Jones exclusively.  He is the same guy I deal with too.

Are you aware that your payout on the same annuity that I can offer is significantly less?

Mr. Looney,



You are a funny man.



The number one selling annuity in the industry, not just by jones, is the Hartford American Leaders VA. It is available in “A” and “B” shares. Yes it has non preferred sub accounts such as Aim, MFS, Franklin Templeton. Check the internal cost of the Hartford Edge (“A” share) verses the others by the way.



Here’s the link:



http://www.hartfordinvestor.com/servlet/Satellite?cid=107218 8777772&pagename=HI%2FHLI01Product%2FHLI_Product&p=109353153 7437&nt_hli01_id=1072188777772&nt_section=1092650184749&c=HL I01Product



Mr. Looney (Love typing that), this is the same product that every one on the street sells. Your above points about Jones VA’s verses what the street has are incorrect.



Next question.



BPD

Ms. Looney to you, sonny boy  

Check out the Hartford Cornerstone 401K group annuity product. Unless they have changed it or phased it out in the last few years, the sub accounts are restricted to the "preferred" funds.  Not the same product as is offered on the street. As I recall the 403B group annuity from Hartford was also a special package just for Jones.

In addition some of the fixed annuities your firm offers are proprietary products, as I have found out by attempting to change agent of record on them.

MS Looney (Sorry for the mix up),



I do not use VAs in the qualified arena so I am not familiar with these products. I thought you were discussing the “normal” VAs, not in qualified accounts. I do use these and am not aware of any that are Jones only.



BPD

Here's the link:

http://www.hartfordinvestor.com/servlet/Satellite?cid=107218 8777772&pagename=HI%2FHLI01Product%2FHLI_Product&p=1 09353153 7437&nt_hli01_id=1072188777772&nt_section=1092650184 749&c=HL I01Product 

-------------------------------------------------------

Shrink The Link!!

I don't know if you know this, but the link you provided above can be made considerably shorter by using a free web service that shrinks the long link to a more manageable length. The site is www.tinyurl.com. You simply type or paste the url into the provided space, hit the button, and whallah! Your reduced link is shown below:

http://tinyurl.com/aqvw5

 

Mr. Doberman:



Thanks for the “tinyurl” tip. This is the first thing I consider to be new news

since I began reading these exchanges. I’m a Jones guy and it works for me.

I live in a small town and working in a Jones office is the only way I could

figure out how to combine my real interest, volunteer firefighting/emt, with

a job that I can rush out of anytime. My clients & asst. understand that if I

am not there for an appointment early in the morning there is a very good

reason. Sometimes we just decide to work where the flexibility allows for our

outside enjoyment and money is not the driving force.

Cougzz, good for you.  If it works and you're happy, stick with it!

Good luck!

Starka:

Cougzz, good for you.  If it works and you're happy, stick with it!

Good luck!

----------------------------------------------

Ditto!

And thanks for the lifesaving jobs you do!

I’m just curious…to all the Jones haters…who do you work for?  And why is your company “so” much better than Jones?

Payout, culture, platform, technology, support, prestige, attitude, breadth of product, freedom… off the top of my head.

I’m just curious…to all the Jones haters…who do you work for?  And why is your company “so” much better than Jones?

ditto to Bluetang. And Bondo-I’ll tell you-yours is.

[quote=Bluetang]Payout, culture, platform, technology, support, prestige, attitude, breadth of product, freedom… off the top of my head.[/quote]
Can you support this?  Whats your payout?  Is it tiered? your support is better? How so? Prestige?   I have yet to come across anyone that thinks any less of EDJ compared to ANY other firm…except for employees of other firms, The attitude here is getting successful people in the field…I would assume that about the same at every firm…, breadth of product…I guess having clients out performing the market year after year is a bad thing?

Im sure Ill be told Ive had too much of the Kool Aid but then again I am being trained by an FA that makes over $600K and is not a GP…how many of you make that much? Oh and we are in a community of less than 60K people.

[quote=Bluetang]Payout, culture, platform, technology, support, prestige, attitude, breadth of product, freedom… off the top of my head.[/quote]
Can you support this?  Whats your payout?  Is it tiered? your support is better? How so? Prestige?   I have yet to come across anyone that thinks any less of EDJ compared to ANY other firm…except for employees of other firms, The attitude here is getting successful people in the field…I would assume that about the same at every firm…, breadth of product…I guess having clients out performing the market year after year is a bad thing?

Im sure Ill be told Ive had too much of the Kool Aid but then again I am being trained by an FA that makes over $600K and is not a GP…how many of you make that much? Oh and we are in a community of less than 60K people.

[quote=Eyetattoo] [quote=Bluetang]Payout, culture, platform, technology, support, prestige, attitude, breadth of product, freedom… off the top of my head.[/quote]
Can you support this?  Whats your payout?  Is it tiered? your support is better? How so? Prestige?   I have yet to come across anyone that thinks any less of EDJ compared to ANY other firm…except for employees of other firms, The attitude here is getting successful people in the field…I would assume that about the same at every firm…, breadth of product…I guess having clients out performing the market year after year is a bad thing?

Im sure Ill be told Ive had too much of the Kool Aid but then again I am being trained by an FA that makes over $600K and is not a GP…how many of you make that much? Oh and we are in a community of less than 60K people.

Eyetattoo: I’m just going to pick one of your ridiculous comments above because you are way whacked out on your statements and understanding.

[quote=Bluetang][quote=Eyetattoo] [quote=Bluetang]Payout, culture, platform, technology, support, prestige, attitude, breadth of product, freedom… off the top of my head.[/quote]
Can you support this?  Whats your payout?  Is it tiered? your support is better? How so? Prestige?   I have yet to come across anyone that thinks any less of EDJ compared to ANY other firm…except for employees of other firms, The attitude here is getting successful people in the field…I would assume that about the same at every firm…, breadth of product…I guess having clients out performing the market year after year is a bad thing?

Im sure Ill be told Ive had too much of the Kool Aid but then again I am being trained by an FA that makes over $600K and is not a GP…how many of you make that much? Oh and we are in a community of less than 60K people.

[quote=donatello]Eyetattoo: I’m just going to pick one of your ridiculous comments above because you are way whacked out on your statements and understanding.

[quote=Eyetattoo] [quote=Bluetang][quote=Eyetattoo] [quote=Bluetang]Payout, culture, platform, technology, support, prestige, attitude, breadth of product, freedom… off the top of my head.[/quote]
Can you support this?  Whats your payout?  Is it tiered? your support is better? How so? Prestige?   I have yet to come across anyone that thinks any less of EDJ compared to ANY other firm…except for employees of other firms, The attitude here is getting successful people in the field…I would assume that about the same at every firm…, breadth of product…I guess having clients out performing the market year after year is a bad thing?

Im sure Ill be told Ive had too much of the Kool Aid but then again I am being trained by an FA that makes over $600K and is not a GP…how many of you make that much? Oh and we are in a community of less than 60K people.

Good-you tried. There’s a couple things you are missing. 1. Institutional pricing. 2. ability to do all fund families. 3. boutique exposure–firms that have only ever invested money for $25m+ accounts. You’ve never heard their names in the retail world.

Yes wrap accounts are still paying the fee.  I don’t discount so 80-100 bps is low.  My clients have heard from me as that is part of what they are paying for, contracted contact.  Also I do not have to explain to them why Cap World is down 13% ytd because of that “it’s cheaper in the long run” A share charge.  They could care less.  If cheaper was the answer, you would see a lot more Hyundais (sp?) on the road.  The question is value.  Which do you value more Mr. Client, paying all today or compensating me for what you get as we go?  Do you want a portfolio in Am F that limits you to 30 funds, or would you prefer to have me help you select a portfolio from over 100 families with over 3000 funds without increasing your cost one bit.  Would you like a fund that I need to make sure is ok today and have no motivation to ever switch within the fund family, or an investment where I have the fiduciary responsibility to make sure is appropriate now, next year, next decade… and so on.  One thing about this business is that sometimes doing nothing is the right thing to do.  When I call you to make a change, you will never have to question if it is to earn a commission because doing what is right, which may be nothing at all, is the way I do business. 

[quote=donatello]Good-you tried. There’s a couple things you are missing. 1. Institutional pricing. 2. ability to do all fund families. 3. boutique exposure–firms that have only ever invested money for $25m+ accounts. You’ve never heard their names in the retail world.

[quote=Bluetang]Yes wrap accounts are still paying the fee.  I don’t discount so 80-100 bps is low.  My clients have heard from me as that is part of what they are paying for, contracted contact.  Also I do not have to explain to them why Cap World is down 13% ytd because of that “it’s cheaper in the long run” A share charge.  They could care less.  If cheaper was the answer, you would see a lot more Hyundais (sp?) on the road.  The question is value.  Which do you value more Mr. Client, paying all today or compensating me for what you get as we go?  Do you want a portfolio in Am F that limits you to 30 funds, or would you prefer to have me help you select a portfolio from over 100 families with over 3000 funds without increasing your cost one bit.  Would you like a fund that I need to make sure is ok today and have no motivation to ever switch within the fund family, or an investment where I have the fiduciary responsibility to make sure is appropriate now, next year, next decade… and so on.  One thing about this business is that sometimes doing nothing is the right thing to do.  When I call you to make a change, you will never have to question if it is to earn a commission because doing what is right, which may be nothing at all, is the way I do business.  [/quote]I like this presentation…I may just have to use it one day…when our wrap program rolls out.

Okay so I have a questions for everyone…Now that the back and forth pissing match is over(or at least simmered down)  How much of your book is in managed money and how much is in A, B, or C shares?

'I’m just curious…to all the Jones haters…who do you work for?  And why is your company “so” much better than Jones?"

[quote=BigPayDay] MS Looney (Sorry for the mix up),



I do not use VAs in the qualified arena so I am not familiar with these products. I thought you were discussing the “normal” VAs, not in qualified accounts. I do use these and am not aware of any that are Jones only.



BPD



[/quote]



BPD, Babs is right. Nearly every annuity Jones uses is “Jones” specific. I know a lot of the wholesalers, and they’ve shown me the other stuff (or just told me about it).   They even help me sell against the other products that the wires use (B shares, I shares, whatever). Our products aren’t bad, they are just primarly preferred funds. Don’t sweat it, but Babs is right.



Another little “secret”…did you know that all the literature we get from the annuity and fund companies are Jones specific? We don’t get the “mainstream” stuff. Funny but true. Again, no big deal, but it really just stems from the A-share and focus list philosophy. Ever wonder why Franklin Templeton stuff only has like 20 funds on their literature that we get? They don’t inlcude all their far-flung funds and sector funds on the Jones literature. I still use some of those funds, but they just aren’t on our stuff.

[quote=Eyetattoo]

I asked about the confirmations because you didn’t mention where you worked…I know many Bank Firms don’t get instant confirms…And 55% is better than what I get but I also have a fully paid for Assistant, my own office and commissions is only one of the five ways we get paid…so Ill take my 37-39% any day.Back to the preferred 8 EDJ isn’t the only firm that has RS plans in tack and if I find there is a better choice for a client outside of the 8 I put them in it…and out of the preferred 8 American Funds is most arguably the highest used fund by EDJ FAs and also has the lowest RS out of the 8.[/quote]



Tattoo, you scare me. I now understand why everyone acccuses Jones of doling out Koolaide. I have read your various threads, and I ALMOST thought you were Spears in disguise, just trying to be a smart-ass. Then I realized you were serious. I assume you just go back from PDP?

B24 that’s funny and you are right…another newbie trying to fight the good fight. He’s way out of his league this time.

He’s open and he will make a decision someday…EDJ or not. He’s a babe, but he’s learning. Cut him slack. Most of us can recognize the babies. He’ll get is someday, and he will say EDJ or no way. Not happy that he spouts the crap, but I really think he’s open to learning. Good luck tattoo! B24—sure hoping you will move at the right time–2 years max!..you’re smart. Would love to see you liberated!

[quote=Broker24] [quote=Eyetattoo]

I asked about the confirmations because you didn’t mention where you worked…I know many Bank Firms don’t get instant confirms…And 55% is better than what I get but I also have a fully paid for Assistant, my own office and commissions is only one of the five ways we get paid…so Ill take my 37-39% any day.Back to the preferred 8 EDJ isn’t the only firm that has RS plans in tack and if I find there is a better choice for a client outside of the 8 I put them in it…and out of the preferred 8 American Funds is most arguably the highest used fund  by EDJ FAs and also has the lowest RS out of the 8.[/quote]



Tattoo, you scare me. I now understand why everyone acccuses Jones of doling out Koolaide. I have read your various threads, and I ALMOST thought you were Spears in disguise, just trying to be a smart-ass. Then I realized you were serious. I assume you just go back from PDP?[/quote]Your right I am new with EDJ but not brand new to the industry…I spent roughly two years in a bank program(US Bank) and have several friends with Wachovia (formally Atlas).  I understand you like to have all the different options at your fingertips (which I also have besides options) but when you break down the returns apples to apples there isnt that big of a difference…sure year to year you can make some really good arguments but when you look at 5, 10,20 year returns the returns are very close (if Im wrong please show me the numbers).  And bottom line is that Jones is a good fit for me and my family…they have let me choose where put my office (my home town) and I have been included in a Goodknight program, which will help me in the first years to keep my head above water while building my business.  On top of all that I have a great network of FAs in my area that will just about drop everything just to help me and my business.

I really do agree with donatello, and I wish you the best of luck.  This is a rough business and sometimes I wish when I started someone had given it to me straight.  For the record, take it for what its worth: stocks, bonds, cds, mfs, annuitties, ltc, life and term are not all of the options.  You don’t know what you don’t know.  If these were  all the options available to me, I just took a 25% paycut.  You are missing out on mortgages, 1031 exchanges, fiduciary trust services, helocs, non-purpose loans, equity lines of credit, futures, options, options on futures, institutional shares, private placements, business leasing, hedge funds, wrap programs, financial planning services and probably more that I cannot think of.  What you are reading in these forums is not hate.  It is aggravation from EDJ saying what they have is all that is needed and anything else is too risky or expensive for them to ethically show clients.  If you go into battle, and that is what you are doing, don’t you want as many bullets as possible?  When someone is shopping for a mortgage, they have to disclose where all their money is.  There is a broker there that is prospecting your client knowing where all the bodies are buried.  I would prefer that person never gets the chance to see my clients assets, my client can come to me for ANYTHING they need.  This business is less about returns and more about service.  You can have the same returns, but the more unique services that your client buys from you, the deeper the relationship. Again take it for what its worth, and good luck.

If a past employee of Edward Jones would like to get a hold of someone in the PASS Program in Tempe, AZ in hopes to join the PASS Program, what would be the best route to take and who should they contact?

Contact Paul Gorgus in St. Louis, he is over the pass program.  His assistant is christy davis she does the interviews.

Thank you oh so much! 

previous post is correct with all the segments and “hoops” you must jump through…I started their and then moved on the AGE…

It’s funny after reading these threads, that were back in April. Now that the economy is doing terrible, i am sure glad to be working at jones. Sure bet most people are wishing they never sold all those “Full Service” investments that Jones doesnt offer lol.! It’s great for me, I don’t have to worry about losing my job and you guys have made it EASY for me out there. All i have to do is nod my head to them complaining of all the crazy investments you Jones haters sell, that we have absolutely nothing to do with. lol…They hate you right now lol…

Funny thing is...so far...the only thing I've had to appologize for is Lehman Bonds transferred from.......................................................yep.......................JONES. As a vet poster...I can say...you're a dumbass!

It’s funny after reading these threads, that were back in April. Now that the economy is doing terrible, i am sure glad to be working at jones. Sure bet most people are wishing they never sold all those “Full Service” investments that Jones doesnt offer lol.! It’s great for me, I don’t have to worry about losing my job and you guys have made it EASY for me out there. All i have to do is nod my head to them complaining of all the crazy investments you Jones haters sell, that we have absolutely nothing to do with. lol…They hate you right now lol…

Funny thing is…so far…the only thing I’ve had to appologize for is Lehman Bonds transferred from…yep…JONES. As a vet poster…I can say…you’re a dumbass!

Wind3574 , Sir you are either a complete idiot or really just at the start of a career in the profession. May I just pass on a wee bit of advise…" Listen , learn and then speak". I can absolutely without any hesitation say that if you make statements like you have your tenure in this industry will be short lived. Not personal , but a bit of advise.

Love the bashing…I said what i said…Meant what i said…Doesn’t mean i am a dumb ass. Means my experience so far is pretty smooth because of the crazy investments of others.   I never said the INDUSTRY was easy, but it sure makes it alot easier when everyone i talk to hates their advisor, because they work for another firm that the Media is bashing. Sorry your markets are sucking, but that sure doesn’t have anything to do with my capability. Being new doesn’t either, just means i’m a new face. And i don’t feed into this Kool-Aid BS. It’s called confidence in yourself and you ability. I love it when Vets look at new guys like they “Aren’t capable, or don’t know anything”. Funny. I may not know everything, but neither do you. Anyway, i’m sure you guys will waste your time on another 4 pages to this thread, defending the fact that you know more than me …have fun

Every other firm is all fuxxed up, Jones is hiring people by the boatloads and constructing nice, shiny buildings.  Half the non-EJ RR members deleted their accounts after last week.  Best of luck to the few of you who are still standing though.

And we wonder why our clients are calling us saying sell everything.  We’ve got people who are supposed to know what they are doing making comments like some of these. 

The difference Wind is that for most that have been around for a bit longer than you and have survivied they have learned the skill of listening and learning. But you are right , you win and I am sure that you are one of the select Advisors that will never make an error and of course will be all knowing. You clients are indeed lucky.

I agree with an earlier post that EJ is going to be one of the safer financial job bets over the next few years. A former colleague started with them a few months ago, and said that the pressures are on par with what you'd expect with this economy.

I *highly* recommend the advice over at http://www.geocities.com/edwardjonesjobstip if you are thinking about applying.

Also, there is no guarantee on how much time it takes from submitting an application to getting an interview. It could be days, but usually at least a few weeks.

Nice.