It is my understanding that the payout is 39% across the board, unlike most firms, where the payout will increase with higher production.

The only quota is a doorbell quota.  How many do you have to ring to be successful.  With winter coming I hope your located in a warm climate it would really suck to walk door to door in the snow.  All kidding aside, can’t you find a better way to get in front of people EDJ?

"All kidding aside, can't you find a better way to get in front of people EDJ?"

Probably not. There are alot of people out there who are unemployed and sitting at home watching Jerry Springer with $100 to invest... Door knocking's the best way to reach them since they probably have had their phone turned off due to lack of payment.

Do at least 500K gross a year and you’ll be fine…

I think it probably depends on the area and the amount of expenses the
rep is generating.  I know of a rep who in his third year finally
hit $100k in revenue.  In the 5th year they put a second office in
his small town so they must have considered that a significant amount
of money.  I would guess he had revenue of about $150k in that 5th
year but took a hit when the new office opened.



AG Edwards listed a few years ago that they had a required minimum of
$120k per year for older reps.  They got tired of the 70+ year old
reps who refused to retire.  Don’t know if they boosted the
minimum or not since then.

Just go full out and don't worry about that.  Bust your ass six days a week.  Knock on doors all day long and work in to the night.

Do they still have the little chart you can pull up on your computer that shows green, yellow, and red?  I am also sure your trainer will be able to give you performance expectations.   

Just be totally devoted to work for a couple years.  If you do the work, you will probably be alright.  Learn how to work smart also.  WHen you get a new client, start calling them every month to touch base with them even if it is for only a minute or two. No one ever did that for them and it'll make you stande out.  Be proactive in moving their MFDs around "within the same fund family to adjust to what is going on in the market."  Esp in retirement accounts where you don't have to worry about taxes.  In six months you should be getting some referrals from happy clients. 

Learn how to do great seminars. Don't wast any time.  Good luck. 

'Be proactive in moving their MFDs around "within the same fund family to adjust to what is going on in the market."  Esp in retirement accounts where you don't have to worry about taxes.  In six months you should be getting some referrals from happy clients.'

Must be an EDJ door knocker.  'Be proactive in moving thier MFDs around' means "churn their account since we at Edward Jones can't annuitize our books and are compensated on a transaction basis."  Especially in retirement accounts where you can churn their accounts even more BECAUSE they don't have to worry about taxes!  And don't give me this B.S. about you being able to effectively annuitizing your book through 12b-1 fees, etc.  It's a line of s**t!!! 

Yeah, that is what I call looking out for the best interests of your clients.  Why don't you give me a list of all your clients so I can take them from you and do what is REALLY right for them!!!  Let me talk to them and we'll see how "happy" they are with you both then...as they sign the TOA forms I handed them!!!

Shouldn't you get back to walkin' an' knockin'???

Um, he said within the same fund group so there isn’t any fees.  I think you should catch up on your reading skills.



I"m not a big fan of moving around money even when it is within the same family but it is free to do so.

He cant read but he will have a CFP one day.  Just another future failed planner.

By the way, I am a fee based advisor managing around 70 million in assets myself "no 3rd party b.s." using technical analysis with a focus on absolute returns. 

Have fun being a planner piker boy.  

CFP2BE- You’re a moron, plain and simple. Learn to read, it might actually help you…

Dude. You gotta door knock for 2 years-minimum. You gotta get enough financial info from 25 people per day so you can go back with an idea 30 days later. 25 per day from people that give you info. That crap is hard. I did it from 2/2000 to about 3/2003. You gotta open 15-25 accounts per month. 1 per biz day will do wonders. I left Jones in 6/2005 because I could not take the BS from the culture anymore. Maybe you’ll fit in. If you are a yes man and like being a jones clone then rock on.

[quote=jones-sniper]Dude. You gotta door knock for 2 years-minimum. You gotta get enough financial info from 25 people per day so you can go back with an idea 30 days later. 25 per day from people that give you info. That crap is hard. I did it from 2/2000 to about 3/2003. You gotta open 15-25 accounts per month. 1 per biz day will do wonders. I left Jones in 6/2005 because I could not take the BS from the culture anymore. Maybe you'll fit in. If you are a yes man and like being a jones clone then rock on.[/quote]

Thanks for the response! How does the 15-25 accounts per month compare to the requirements from other firms? Are you now an indy rep or did you move on to another firm? Did you get hassled for moving on?

As far as me being a yes-man, I wouldn't exactly say that. I will do what I need to do but ultimately my concern is for my own well being. If EDJ can get me the experience I need then all is well. Once I'm self sufficient I can decide whether the culture is a right fit for me or not.

The problem with EDJ is they tell you how to prospect, they tell you what you can sell.  And you do not own your own book.

Why are you not looking at a firm like RayJay?  You sell what is best for the client.  You prospect any way you like that works for you.  and you own your own book.

The EDJ reps are flocking here.  Why not just start out here?

[quote=maybeeeeeeee]

The problem with EDJ is they tell you how to prospect, they tell you what you can sell.  And you do not own your own book.

Why are you not looking at a firm like RayJay?  You sell what is best for the client.  You prospect any way you like that works for you.  and you own your own book.

The EDJ reps are flocking here.  Why not just start out here?

[/quote]

Good question - I actually looked at them first but have noticed that since I began my search they do not have any trainee positions in my area.

I'm not partial to any wirehouse in particular, it just seems that Jones is one of the few that will take an individual who is transitioning in from another career.

If there are other options out there I'd love to hear them!

I'm not partial to any wirehouse in particular, it just seems that Jones is one of the few that will take an individual who is transitioning in from another career.

jones is not a wirehouse. they are a firm that is good at selling 50/month roth ira's and vul's to uneducated, mass market americans.

the_optimist, you're starting out with the right attitude.  Envision yourself as a one-person business, not an employee of a firm.  Decide what you want your business to look like, then find the firm that seems best at supporting your model. 

All firms are equally useless, until they can support YOUR plan.

Best of luck!

[quote=the_optimist][quote=maybeeeeeeee]

The problem with EDJ is they tell you how to prospect, they tell you what you can sell.  And you do not own your own book.

Why are you not looking at a firm like RayJay?  You sell what is best for the client.  You prospect any way you like that works for you.  and you own your own book.

The EDJ reps are flocking here.  Why not just start out here?

[/quote]

Good question - I actually looked at them first but have noticed that since I began my search they do not have any trainee positions in my area.

I'm not partial to any wirehouse in particular, it just seems that Jones is one of the few that will take an individual who is transitioning in from another career.

If there are other options out there I'd love to hear

DIG A LITTLE DEEPER.  Call the Branch Managers.  Hound them.  Send them your resume.  Send your resume to Florida via the internet.  Then they will hound the BM.  You have to show determination if you want to succeed in this job.  Don't quit so easily.  Ray Jay is worth the effort.  We are actively seeking professionals who have successful careers elsewhere.  Good luck.

[quote=maybeeeeeeee]

I’m not partial to any wirehouse in
particular, it just seems that Jones is one of the few that will take
an individual who is transitioning in from another career.

If there are other options out there I'd love to hear.
[/quote]

Merrill Lynch, Smith Barney and UBS will all take people transitioning in from other careers.  But the positions are hard to come by and the branch managers are VERY picky.

It's easiest to transition from a non-producing area of finance (anything requiring a Series 7).  Next easiest would be careers requiring sales of complex intangibles (mortgages, services, insurance).  However, a good branch manager will look at anybody with a solid business plan.

For example, I recently helped a senior manager from IBM move to a wirehouse.  And I have a former doctor in interviews with another branch. 

And you're absolutely right, Maybeeee, about going to the branch managers.  Most headhunters can't work with you unless you have your Series 7.  Just approach the manager as if he/she were a prospective client.