Going insane at Jones

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May 24, 2010 8:07 pm

I can't be 100% specific but here's my situation:

Started with Jones recently and I took a decent offer. Unlike a lot of younger Jonesies I have not sold knives, vacuums or books door to door. I have quickly realized that I hate doorknocking with a passion. I know it works and I am not derisive of those who passionately pursue it. But I think it's effective only for those who are willing to relentlessly knock on doors, repeatedly visiting some folks to the point of getting a gun pulled on them or a check handed to them. I, however, have had enough crazies and cops called on me that it simply is not worth it.

With that being said, I enjoy this business. I have no problem selling and "asking for the order". The only thing I can't sell is myself, on the doorstep. My question, then, is am I just not cut out for a career at Jones? I am not in it because it's "cool" or because one can make piles of money. This field has been a passion for over a decade and I don't want to get out of it. All that being said, I simply cannot see myself doorknocking for the next couple of years. I have a very respectable AUM to work with but it won't make anyone a living. I need to be adding prospects and eventually clients.

Can this be done at Jones without doorknocking being one's primary marketing strategy? I'm comfortable and experienced on the phone and am contemplating buying a list but I know it doesn't stop there. Any ideas and constructive criticism/advice would be appreciated.

Jun 21, 2010 8:25 pm

How big is your AUM?  Then we can answer your question.  If it's $20mil or less, you probably won't make it sitting on your butt.

Jun 24, 2010 11:47 am

It's been told to you at least once, probably more, that door knocking is the penalty for not asking for referrals.

Nobody has to doorknock to be successful at Jones (depending on your definition of success). I realistically stopped door knocking somewhere between 6 and 8 MM AUM. And frankly, that's when my business started improving drastically.

What worked for might or might not work for you. Every advisor is a snowflake my friend. In my case, I'm just a flake. Good luck.

Jun 24, 2010 12:08 pm

FA86 - Check your PM's