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Allstate to Edward Jones?

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Jan 20, 2010 10:22 pm

I am currently an Allstate agent, I started my business from scratch (zero customers) and am now looking to make a change.  I have been looking into Edward Jones, any advice, suggestions, ect.  So far the research looks good, but I would like to hear some opinions from real people.

Jan 20, 2010 10:26 pm

I thought Allstate encouraged their reps to become licensed.  What’s to stop you from offering investments through Allstate?  I get the feeling you’re not telling us the whole story.

Jan 20, 2010 10:28 pm

I don’t want to be an Allstate any longer.  I am licensed, but not happy with Allstate.  So, I am looking for some better options.

Jan 20, 2010 10:34 pm

I had an offer from Allstate that would allow one to service the investments for several branches. Ever look into that? You already have to be registered and have made over $100k for the last two years but other than that it seemed like a gravy deal. I passed as it didn’t allow any options or pairs trading and went with AGE. Tony Villanova is an ass hole as well  if he’s still there.

  The guys doing it were making a couple hundred grand. It may be a natural for you.
Jan 20, 2010 10:38 pm

Yes, I am very aware of that since I currently use someone for my clients.  However, staying at Allstate is not an option for me as I am nearly disgruntled with the direction they are leading the company.   However, if Edward Jones isn't a good opportunity, I would be interested to hear other ideas. 

Jan 20, 2010 10:42 pm

not trying to sound like a smart A, but just trying to leave Allstate, not stay.

Jan 20, 2010 11:15 pm

Go with whatever firm will invest the most money on you. WFA has a pretty good deal and training for new people.

Jan 20, 2010 11:21 pm

I ahve a friend that’s been at Allstate for 25 years.  He is VERY disappointed with the direction of the company the past 6-7 years (since they forced independant contractor status on them).  He has quotas to give to the investment people, and says he would NOT suggest going there.

  TG, I think Jones would probably be a good fit for you, although I know nothing about your book, your client base, your market, etc.
Jan 20, 2010 11:27 pm

well, I will be selling my book and the non-compete with Allstate does not allow me to pursue them (talk to them) for at least 1 year.  My only licensing series 6& 63, and I don’t really sell any of that now, as i use their investment guy.  So my knowledge is great but experience is less. 

I just don't want to end up in the same situation I am with Allstate now.  A company that does not care, and is pushing agents to invest hundreds of thousand to millions to buy up smaller agents so they can "restructure" without having to do it themselves.   Not a good environment right now, nor do they have good growth stragegies in my area.  Not to mention horrible rates that are only getting worse.
Jan 20, 2010 11:39 pm

If you are a 1099 contractor I dont think they can enforce a non compete. When I left Mutual of Omaha (a long time ago) all they could do was delay the last amount of money they owed me for 12 months. I would bet you’re in the same boat regardless of what they say. Even my current contract with WFA cant stop me from brining clients with me.