See post in "General" titled "Jones versus Jones Haters".  There is some talk of Edward Jones Good Knights in there.

Get hired, network in the region before you can-sell date. Ask around and you’ll find one. Or, you’ll be given an office when one opens up, which is probably a better deal than a GK.
The goodknight was originally set up as a way for a veteran to bring a friend or an outside colleague into the business. These days, most vets bring the GK in simply to get rid of accounts and get partnership points and/or dollars.

I’m still in the interview process with EDJ and I asked about GK and an advisor said I should ask about a close by office that is vacant because the guy there left the company.

I don’t know if it’s worth checking into though.  The location is basically surrounded by professional office parks (many of the buildings require a security card to get in) with very little residential.  There are very nice residential areas to the North, South East and West, but there are also EDJ offices in these areas.

I think it would be nice to start out with an office, but at what cost?  I mean… there was enough business for someone to get an office started… I wonder what went wrong.

If there are more than 5mil in assets, take it. You can prospect anywhere.

[quote=MBA2FA] I’m still in the interview process with EDJ and I asked about GK and an advisor said I should ask about a close by office that is vacant because the guy there left the company.I don’t know if it’s worth checking into though. The location is basically surrounded by professional office parks (many of the buildings require a security card to get in) with very little residential. There are very nice residential areas to the North, South East and West, but there are also EDJ offices in these areas.I think it would be nice to start out with an office, but at what cost? I mean… there was enough business for someone to get an office started… I wonder what went wrong.

[/quote]



There could be a trillion $$ in assets in an area, and some guys will still fail. On the flip side, I know of guys in towns with 5000 people that are killing it. It has very little to do with the location, and everything to do with the person.

i agree with searching for an open office with 5 mil plus. another good option is to find a good knight with a super vet that will teach you the biz.  Not just some guy wanting to dump off his small accounts on you, but a seasoned pro that can really show you the ropes and really wants to see you succeed. I would really talk to folks in the region and really do some due dilligence before doing a good knight or jumping into and office; don’t get excited about and office and take the first one you find.

I’m having lunch with a couple FA’s this week and plan to meet with a few more if their schedule allows.  I have heard about some 20 year vet in the area who is supposedly doing almost $2MM in production.  If this is for real… maybe I can convince him to help the new kid…

Would it be worth it to take over an office with a weak asset base vs. no office at all? If it’s like Ron 14 says, I can prospect anywhere, so wouldn’t I probably be better off with a “less than perfect” location versus having to wait a year or more to build one?

I would NOT take over an office that has seen the FA carousel.  TRUST ME.  If there have been 3 or 4 FA’s in less than 10 years, you’re doomed.  The only way it works is if you forget about any of the assets in the office and start your business from scratch.  Then your advantage is really just having an office and a BOA.  Any production from existing clients is just gravy.  However, most new FA’s can’t help themselves and just focus on the existing clients, which is recipe for disaster.