Con's:

    1.  Average production at LPL is less than 200k.

    2.  Many brokers work from home. (One I know was fired from Jones and worked out of his home for 3 1/2 years before he got an office....100% true story)

    3. If the team goes sour, you might be stuck holding the bag.

[quote=rankstocks]

Con's:

    1.  Average production at LPL is less than 200k.

Well we are all well above the 200k mark.

    2.  Many brokers work from home. (One I know was fired from Jones and worked out of his home for 3 1/2 years before he got an office....100% true story)

  We all have our own offices now but,we are thinking of purchasing a new one if we do this.    

    3. If the team goes sour, you might be stuck holding the bag.

We would have to have a buy out clause.   

[quote=rankstocks]

Con's:

    1.  Average production at LPL is less than 200k.

    2.  Many brokers work from home. (One I know was fired from Jones and worked out of his home for 3 1/2 years before he got an office....100% true story)

    3. If the team goes sour, you might be stuck holding the bag.

[/quote]

Uh, don't Jones IR's work from home too? Unless they walk-in to an open office? I'd have to say a guy that gets fired has bigger things to worry about than having an office to work from.

[quote=rankstocks]

Con's:

    1.  Average production at LPL is less than 200k.

         Why is this important?  The guy is interested in joining an office with other LPL reps.  What is the average production at Jones?

    2.  Many brokers work from home. (One I know was fired from Jones and worked out of his home for 3 1/2 years before he got an office....100% true story)

          Again, why does that matter?  So what if some Jones flunkie works for LPL out of his house.  I doubt I will lose many clients to him.

    3. If the team goes sour, you might be stuck holding the bag.

           I sure would think that Greenbacks has enough common sense to protect himself should that happen.

I am my own TEAM!  Everything is GREAT!

[quote=rankstocks]

Con’s:

    1.  Average production at LPL is less than 200k.

    2.  Many brokers work from home. (One I know was fired from Jones and worked out of his home for 3 1/2 years before he got an office....100% true story)

    3. If the team goes sour, you might be stuck holding the bag.

[quote=joedabrkr] [quote=rankstocks]

Con's:

    1.  Average production at LPL is less than 200k.

    2.  Many brokers work from home. (One I know was fired from Jones and worked out of his home for 3 1/2 years before he got an office....100% true story)

    3. If the team goes sour, you might be stuck holding the bag.

[/quote]

I work out of my house, and I suspect it is far nicer than your office!
[/quote]

Joe, you'll have to excuse Rank as he's getting his answers from the inside of a GP's colon...

"I am my own TEAM!  Everything is GREAT!"

COngrats... Now go back to rolling over 10K IRA's and setting up $100/ month systematics... You would probably puke on yourself if you ever had to compete for real business...

[quote=Indyone][quote=joedabrkr] [quote=rankstocks]

Con's:

    1.  Average production at LPL is less than 200k.

    2.  Many brokers work from home. (One I know was fired from Jones and worked out of his home for 3 1/2 years before he got an office....100% true story)

    3. If the team goes sour, you might be stuck holding the bag.

[/quote]

I work out of my house, and I suspect it is far nicer than your office!
[/quote]

Joe, you'll have to excuse Rank as he's getting his answers from the inside of a GP's colon...

Rank

"Please don't ever" and I mean ever leave Jones. You have to be the dumbest idiot with a series 7. I now realize why people really hate Jones....because they harbor senseless fools like you.

I dont care what you say about working from your home..it doesn't matter! Ihope some day I do work from my home and only my home.

[quote=joedabrkr] [quote=Indyone][quote=joedabrkr] [quote=rankstocks]

Con's:

    1.  Average production at LPL is less than 200k.

    2.  Many brokers work from home. (One I know was fired from Jones and worked out of his home for 3 1/2 years before he got an office....100% true story)

    3. If the team goes sour, you might be stuck holding the bag.

[/quote]

I work out of my house, and I suspect it is far nicer than your office!
[/quote]

Joe, you'll have to excuse Rank as he's getting his answers from the inside of a GP's colon...

[/quote]

lol...that's a lovely mental picture....
[/quote]

 I'm still trying to poke it out of my mind's eye. On another note, when Rank makes his 25 contacts a day, does he carry the GP on his shoulders? -OR- Do they maneuver utilizing a wheelbarrow race type of stance?

Registered Rep magazine, June 2006,

    Average Assets per rep:

             LPL:     16.2 million

             RJ:       30.4 million

             EDJ:     41.6 million

And you are telling me the average LPL broker grosses more on 16.2 million in assets than the average Jones broker with 41.6?  How is that possible?  Churning?  or maybe you are flat wrong.

Rank,

They are just flat wrong.  They are all MORONS!

[quote=rankstocks]

Registered Rep magazine, June 2006,

    Average Assets per rep:

             LPL:     16.2 million

             RJ:       30. 4 million

             EDJ:     41.6 million

And you are telling me the average LPL broker grosses more on 16.2 million in assets than the average Jones broker with 41.6?  How is that possible?  Churning?  or maybe you are flat wrong.

[/quote]

Rank-

LPL = 16.2 Mil  x 1.0% Fee = $162,000 per year. MINUS 10% to LPL= $ 145,800 net to Broker. (assume he works from home, like YOU did when you first started at Jones)

EDJ = 41.6 Mil x .25% Trails = $ 104,000 per year. MINUS 60% to GP's = $41,600 net to you. (Assume all 41.6 is in Mutual Funds.) NOW, the number is a little sketchy to come up with since you also get One Time Only Upfront Commission- we'll say 25% of that 41.6 comes in per year the average is $10.4 Mil x 2% = $208,000 MINUS 60% to GP's = $124,800 net to you / add the $41,600 in trails = $166,400.

Looks to me like if you want to Keep Up with LPL the Jones people are the ones who need to CHURN and BURN.

Before you get all excited to point out the larger number for EDJ- Remember, I gave credit for a person who can bring in over $10 Mil a year AND gave full .25% in Trails.

This is not possible. The average IR at Jones has Mutual Funds make up between 50-70% of their book. That was the number when I was there- look up Firm average before you go spouting off again.

I just re-checked those numbers - I know I'll catch hell for this:

Commission should be $208,000 x 40% to IR = $83,200 - (Sorry about that, I gave you the GP cut) 

$83,200 + $41.600 = $124,800

I looked back through my P & L when I hit $41.5 Mil (pretty close) my gross was $359,000 and Net was $132,000. This was on an ascending asset basis, so I had to keep bringing in assets and dropping tickets to maintain this.

[quote=rankstocks]

Registered Rep magazine, June 2006,

    Average Assets per rep:

             LPL:     16.2 million

             RJ:       30. 4 million

             EDJ:     41.6 million

And you are telling me the average LPL broker grosses more on 16.2 million in assets than the average Jones broker with 41.6?  How is that possible?  Churning?  or maybe you are flat wrong.[/quote]

I'll tell you once more and maybe this time it will stick.  LPL has a partners program where CPAs. etc. are licensed to revenue share on referrals.  Most likely, these folks have no book themselves, bringing down the average.  I've been at LPL all of ten months and my book is just north of $24 mil.  I find it very hard to believe that I already have a bigger book than the average PRODUCING rep, but who knows.  I'll try to clarifiy this at the national sales conference this summer and let you know.

...and on the 2nd question...not only is it possible, it's probable.  Frankly, I should get paid more for managing a client's account as opposed to just buy and hold and let 'em rot.  I can't tell you how many former Jones clients have told me that they haven't heard from their advisor in years.  Why should you get paid for that?

It's time to get your head out of some GP's @ss, quit repeating that stupid propaganda they are feeding you and think for yourself.

[quote=Indyone][quote=rankstocks]

Registered Rep magazine, June 2006,

    Average Assets per rep:

             LPL:     16.2 million

             RJ:       30. 4 million

             EDJ:     41.6 million

And you are telling me the average LPL broker grosses more on 16.2 million in assets than the average Jones broker with 41.6?  How is that possible?  Churning?  or maybe you are flat wrong.[/quote]

I'll tell you once more and maybe this time it will stick.  LPL has a partners program where CPAs. etc. are licensed to revenue share on referrals.  Most likely, these folks have no book themselves, bringing down the average.  I've been at LPL all of ten months and my book is just north of $24 mil.  I find it very hard to believe that I already have a bigger book than the average PRODUCING rep, but who knows.  I'll try to clarifiy this at the national sales conference this summer and let you know.

...and on the 2nd question...not only is it possible, it's probable.  Frankly, I should get paid more for managing a client's account as opposed to just buy and hold and let 'em rot.  I can't tell you how many former Jones clients have told me that they haven't heard from their advisor in years.  Why should you get paid for that?

It's time to get your head out of some GP's @ss, quit repeating that stupid propaganda they are feeding you and think for yourself.

[/quote]

Indy - don't let Rank's lack of independent thought -OR- originality for that matter dishearten you. His "handle" reeks of Jones constipation.

RANKSTOCKS is a command code utilized in the archaic 1970's communications system for Jones operations. This command supplies an IR with the top stock holdings for his branch, by dollar amount.

At the end of the selling month, many IRs pull up their RANKSTOCKS and scroll through to try and find some dogs to sell, and re-trade into some other Jones deitized "buy & hold" for a couple bucks to throw into the old commission pot. (*Ohh and maybe just maybe some of those trades might just count for a few points towards that next div trip to Jerks & Caicos) 

The only posts you ever seem to groan out are: 

The average LPL/RJ rep makes less than $200k per year (which I bet beats the pants off the net you make any day)

Most reps work from home. (umm, like I've said before until recently when Jones Vets were leaving the firm in droves New IRs work from THEIR homes too)

Try some benefiber, or ex-laxx dude you're all bunged up.

Speaking of great Jones technology, here is the command (on the black screen) to get a list of your states muni bonds:

"inv,mbd,iob=y,st=ca"  (reminds me of the old DOS language I learned in college)

and then, if you are lucky, you will have a choice of 3 to 5 muni's from your state which are all at least 30 years in maturity.  Remember, at Jones the only bonds to choose from are the bonds that they have in their inventory (and then the client gets raped on the mark-up!