EJ Question

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Jun 14, 2009 2:05 am

So I just excepted an offer with Edward Jones, am moving out of state and have a Condo I need to sell.  In order for me to sell my property I have to short sell it.  Is Edward Jones or FIRMA/SEC going to see that as a conflict?

I have not yet taken any of the licensing tests.

I’m short selling it because my Condo was a first time home buyer deal, and I can’t legally rent it.

Any help is appreciated.

Jun 14, 2009 3:30 am

No, Jones just wants you as a warm body. Don’t worry about it. They’ll make sure you can stay through Eval/Grad and get your can sell date. Good luck, though.

Jun 15, 2009 5:58 pm

There aren’t any issues with FIRMA or the SEC if I short sale then?  Its going to drop my credit score by 50 points.  During my interview with Jones they asked if I had ever settled on any debt. 

Jun 15, 2009 6:45 pm

Sorry I mean FINRA not FIRMA.

Jun 15, 2009 9:53 pm

[quote=Hamon]Sorry I mean FINRA not FIRMA.

You sure you didn’t mean FEMA?

Jun 16, 2009 9:07 am

He meant PETA

Jun 16, 2009 10:04 am

I would discuss this with EJ, because you will have to report this to them (and possibly your U4 when you get one).  It could potentially cause trouble with your getting bonded.

Jun 24, 2009 4:28 pm

Just to give all of yall an update.  Edward Jones is going to let me short sell my property 

Jun 24, 2009 5:32 pm

Do you have a savings for 6-9 months(doesn’t sound like it)because the initial pay at jones will kill you if you don’t.

Jun 24, 2009 5:46 pm

I have pretty decent savings, and have my budget to where I can live with what Jones is going to pay me.  I am moving from West Coast to the East Coast

I am short selling my property because I took advantage of a California first time home buyer loan.  Attached to my loan were lots of stupid stipulations that make it difficult to legally rent and with the market condition the way it is, the property is not worth holding onto.

Oh and Chief123 thank you for your comment and assumptions on my financial position (sounds like your an a-hole).

Jun 24, 2009 10:34 pm

I took it as a friendly heads up.

Jun 26, 2009 9:42 am

I did too. If that is treating someone like an ahole then what does that say about how you are going to deal with rejection…I’m just saying…

Jun 26, 2009 1:42 pm

If its just a friendly heads up then I apologize, but the aside comment in () came off as condescending to me.  Maybe I was just reading to much into it.

As far as rejection goes, I’ve been an International and Domestic Sales rep for a long time, and am not phased by rejection.