EJ vs. SB
31 RepliesJump to last post
Mike Butler,
Just one question for you.
Why are you so jealous of Edward Jones then?
Maybeeeee,
The post was asking what is a better firm to start with, not where to transfer from.
BPD
[quote=BigPayDay]Mike Butler,
Just one question for you.
Why are you so jealous of Edward Jones then?
BPD
[/quote]
ROFLMAO, here's a clue for you, there's nothing remotely "jealous" about cutting away the "we're the only ones that care" nonsense from Jones' real nature. It's as if you think reps are "jealous" of Schwab when they take apart their bogus TV ads.
[quote=BrokerRecruit]
That was my point, joe - simply throwing out an example. I know futures aren’t a major choice by many producers, but it’s there if they want it. Again, just an example.
BPD-enlighten me (because I honestly couldn’t tell you), what is the average production of a 1/5/10 year rep at Jones?
At SSB, you’d be looking at approximately $60/300/600k respectively, as of the last stats I’ve seen. it’s been a while, so it is probably just a bit higher.
Once again, Jones is not a terrible place, but if you have the opportunity to come into an environment that focuses on many facets of the business as opposed to a handful, go for it. If Jones is great for you and you like their approach, work there and enjoy it, and I’ll be happy for you.
[/quote]BR,
Here’s some info for you. It’s a little dated and the timeframe 00 - 03 was a pretty tough time compared to prior or recent two years, but it may help you with avaerage pay at Jones at different years of service. The numbers over the past two years are probably up 10% - 20%.
http://www.edwardjonesopportunity.com/ir/en_US/nonbroker/inc ome.html
I wouldn’t be surprised if the numbers were higher than you thought.
Does SB have a pre tax expense plan? A plan where any expenses are taken out of the FC’s check pre tax. I know that has saved me a lot of money in tax. Without it AMT would eat up all my 2106 deductions.
BPD
[quote=BigPayDay]MikeB,
When you were new in the business how did you build your client base?
BPD[/quote]
Some of the dreaded cold calling, mailings, seminars, networking, civic groups, etc.. Now, I know where you're going with this, and bad as cold calling is, it's nothing in terms of imposing on a person like bothering them at their front door or place of business.
Sounds like EJ is a great company to start with. Each business location is different so one could expect to hear a million different experiences.
Since many of you successful PFA's/brokers started at EJ one could believe they did a good job supporting you. Then when you go INDY and make 3x's more after 5 years it could be easy to think "damn why did I not do that before?"
In reality I have limited experience with EJ, but I do know this smart kid about 18 who was with a EJ firm. He seemed to do well and now he is about 22 doing better.
Bigpayday,
I think you are clueless. EJ is right for some people, but it's the arrogance and unprofessionalism that blows our mind. Some examples:
1. I just don't think it's professional to run arround the city with a sign on your car that says: "Edward Jones Stocks and Bonds" I saw that on a minivan in a city 45 miles from where I live.
2. Does SB have a pretax plan? For what kind of spending?
3. That website that you posted is a perfect example of unprofessionalism and it's on your own Edward Jones site at that. Goldman Sachs doesn't even tell the Street what each broker makes. Great example and we appreciate it. The website tries to sell the Edward Jones way. It's perfect and expresses what we despise about Edward Jones. Trips and Incentives. Are you a used car salesman?
4. I don't like the "IRA Rollover" signs posted out on the yards in front of the offices.
5. Your name Bigpayday says it all. "A" share mania. You don't even address the concerns of BrokerRecruit but go into how much you get paid. Ask BrokerRecruit what he thinks of your pay versus other companies. You probably won't listen to him or believe him.
I could go on and on, but it is not worth my time.
Sincerely,
Help
Bigpayday,
I am sorry because I thought I was done. However, your website is killing me. Why would they post all this to their website unless they were desperate for new brokers?
I love this one under "The five Critical Activities for a New IR are: Present an appropriate investment and ASK for the order."
And ASK is capitalized.
I have got to stop.
Sincerely
Help
Well, not to defend Jones and appear to have drank the kool aid… the ASK part is very important. We can present and present, but until you actually close or ask for the client to make a decision, we might as well be whistling into the wind.
Yes, but putting it on your company's website. If one is in sales, it is a given that you ask for the order.
COMMONSENSE
I do believe that SB will have a pre-tax spending plan (maybe someone can give more detailed info if I'm incorrect). I don't have specific details, but I am pretty sure it is there.
And in regards to that website, most Jones reps will say that their payout is "50-60% with all of the incentives, trips, etc." If that is the case and a 10/year rep is "earning" $219 and change, I would assume that would put them at a shade over $400?