Questions for ezmoney
ez, read your post (below) from another thread and it describes me almost exactly - I'm 18 months in, netting around $60k on the last twelve and I too am looking for the greener pastures of the banks. I would love to have an offline conversation with you, but for now, I would appreciate your input on the following:
1. Did Jones come after you for the $75,000 in training fees? (a bargain, really, when you consider the fact that a similarly priced MBA from Harvard does not include room & board in sweet digs like the Westport).
2. How hard was it to transfer your good clients? Did they go for a TRO, how soon were they calling on your book, etc.
Thanks in advance.
"With only 17 months in the biz, in 2003 with Jones I made about $65k minus expenses of about $7k and I netted about $58k.
I left to join a large national bank at the start of 2004 and I'll finish the year at about $110,000 net no expenses. BTW life is a whole lot easier. In less than 4 months I have now built up a fee based residual of about 25k recurring income for 2005. I estimate by the end of 2005 I should have a recurring income of about $60k net.
I would have never had this at Jones. The bank is O.K. not perfect but better than a wirehouse. I can be at home playing with the kids and get a phone call from one of my bankers with a great referral for me. That's nice! "
i would hope jones would come after you for the training fees. you do owe them after all, but don’t flatter yourself. it sounds like you will fit in perfectly at a bank.
Oh boy. Gotta love those "$500 too much in my checking account. Can oyu help?" referrals..
Thanks, hawg and Guest1, for your most helpful responses, you are both a credit to the good people at Jones. Keep knocking and selling them preferreds and maybe someday daddy Jones will let you take the AAMS.
A CFP is worthless and for individuals who don’t have a degree. It makes the CFP feel better becuase he has this two bit designation over the real degree he could have received. You want to better yourself go get a maters degree in financial planning. At least then you have a graduate degree as oppossed to a simple designation. BTW I have a masters degree in business. A real graduate degree.
BTW. no, they did not come after me for the costs involved with the joke they call training. No, it was not difficult transferring my clients. Took about 90% of the ones I targeted.
EZ, I agree, was just correcting wannabe. I could say the same for your MBA though! In over 13 years I can’t think of one “real” client that has asked me about it. Suppose you have yours framed on the wall!