Mr. & Mrs. Client, I left Jones because
spiffy, with you taliking about faith there will certainly be fewer christians. so go ahead.
Silly me I just forgot you had posted over 4 years. It just seems like 1 year because you shout from the rafters until you are blue in the face. And I was preparing for a new appt . I found 1.6M today....how about you?
I know you were pissing into the water cooler to blow off steam. Much more important than working.
Space: frankly does it make it sound so much different at 3000 or 4000 than it does at 7000? Edward Jones needs to protect itself from it's advisors, from the fact that each newbie gets an office before he knows enough and so every one of the remainder are restricted.
And really??? You have someone "smarter than yourself" looking over your shoulder? Who is that, Space? Because the people looking over my shoulder at Jones was Field Supervision ( who literally is my branch supervisor), and you'll never hear me admit he was even smarter than sperm. No RL, AL, or StL rep ever looked at my book of business and I bet my experience is hardly the exception.
So I'm good with what I said. Thanks.
Sorry, Lock, I was too busy debating with foot to follow up with this one.
I wasn't talking about your FSD, RL, or AL when I was referencing those people smarter than me. I was talking about folks like the IPC, Product Review, Mutual Fund Research, equity analysts, bond analysts, etc. The only thing FSD does is look at the trades you place for suitability for that particular client. They don't look at the quality of the investments you use. But, with folks like the IPC setting portfolio percentages and Product Review giving the yea or nay on different investments, there was someone smarter than you looking over your shoulder. Not to mention the analysts with CFA tacked behind their names that have the ability to dig a whole lot deeper into a stock or fund or a bond than we ever will.
Sorry I missed this reply.
How are the people you reference in any way giving me guidence or for that matter "looking over my shoulder"? It would be my assumption that the implicit theme to looking over one's shoulder would require intervention at some point.
Simply setting parameters for asset allocation, or restricting my access to investments like Prudentials HD6, international bonds, or privately traded REITs, doesn't indicate in any way to me that I had someone looking over my shoulder. More like, they were keeping an eye on the exposure of Big Green to lawsuits. If they wanted to "look over my shoulder" then "they" might have been proactive in some way, or at the very least taken some substantial efforts at teaching portfolio construction and following that, portfolio review of my own work.
Again, I'm pretty happy with the point I made to my clients. I'm not saying you can't do very well listening only to what the IPC says, although my own clients happened to do better and I didn't follow the IPC (strictly using AdSol as the paradigm for evaluation). I'm saying that you can't simultaneously say that they "don't look at the quality of investments you use" and "there was someone ... looking over your shoulder". That's a non-sequitor.
Jones is a good company, but not a great company. Their niche is basically as a bottom feeder. They take almost anyone as a customer and almost anyone as an FA. Can you be very successful at Jones? Sure. But bottom feeding causes a certain lack of confidence that leads to kool-ade type of personality problems. Same thing I see with a lot of born agains'. Thus we are subject to comments from folks like spiffy, who are so unsure of themselves and their company that they feel threatened by negative comments.
I've had more than one go-round with Space, both on religion and Jones. I can't see anyone suggesting that a> Space is in anyway unsure of himself or b> threatened by people online.
And as a born-again Christian and an ex-Joneser, I think the one thing Space and I would agree on it's that we welcome self-examination with an open mind, but with the ultimate confidence we have chosen the right way. And we are both right.
your bd will provide you with one that has been approved by their compliance department. Problem is, if you are leaving Edward Jones, they more than likely haven't taken into account your complete agreement you signed.
I didn't bother sending a letter. It creates, however minor, legal complications that you were soliciting your former clients for the most absolute minimal gains. Really ... how many of your clients respond to letters? And the ones that might have responded to your letter, would they have responded to your leaving anyway?
Do the right thing, stay the course of being honorable and honor your contract in spirit and fact. You'll sleep better.
When I left I could only contact them by mail and followup to see if they got the letter. If they engaged me in dialogue, I was within the law to repsond. You are not allowed to soliciit the clients. Essentially whatever is written you can say.
You will still get the letter from home office. But unless you are blatantly soliciting, in time, it all works out.
If you did a good job of selling yourself, it's a non-issue. They will follow.