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One More Important EDJ Question

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Mar 6, 2007 2:34 am

[quote=Broker24]EdJehovah-

You're right - nobody ever started from scratch at Jones and made it.
Everyone inherited a book.

If you suck at Jones, you will suck no matter where you go.

I can understand the gripes of people that have been at Jones 3, 5, 10
years and are producers, and want "more" out of their B/D. But if you are
griping after a year or two, and telling people to get themselves fired and
move to a bank, it's probably not Jones' fault.


AllREIT - I thought you looked familiar!
[/quote]

Broker24- I could not agree more!!!!!

Mar 6, 2007 5:59 am

[quote=Philo Kvetch] [quote=AllREIT]

[quote=Philo Kvetch] How long have you been with EDJ, ALLREIT? Did you

start new or were you

a transfer broker?[/quote]



I was the love-child of two GP’s

[/quote]



It all makes sense now.[/quote]

I guess I need to be a Jones insider to know what this means. 

Mar 7, 2007 3:21 am

Broker24 wrote:

EdJehovah-

You're right - nobody ever started from scratch at Jones and made it.

JUST WONDERING..what is the % of hires that passes the 7

KYC, Evalgrad, doesn't inherit an office, doesn't accept a goodnight,

a true NEW/NEW makes it and is still with jones 5 years later?

My guess 3-10%

Mar 8, 2007 2:00 am

No idea. Probably about the same as at any other firm (in the same

situation).

Mar 8, 2007 6:47 pm

there is no other firm that recruits so many non-lincensed individuals like ED J.  So there is not a firm to make a comparison to.  The hiring process is misleading. If I was told 1 out of 20 people make it with the company to the 5 year mark, I would not have accepted the offer

Mar 13, 2007 4:31 am

[quote=Broker7]Broker24 wrote:

EdJehovah-

You're right - nobody ever started from scratch at Jones and made it.

JUST WONDERING..what is the % of hires that passes the 7

KYC, Evalgrad, doesn't inherit an office, doesn't accept a goodnight,

a true NEW/NEW makes it and is still with jones 5 years later?

My guess 3-10%

[/quote]   I would say, perhaps 5%.  It is not a number Jones even hints at answering.  Mention that question at your next regional summer meeting, and you will get dealt with.  Oh no, their is no challenging the Jones hierachy.  Just shut up, watch the fortunate few get a gravy train, and keep banging on doors.  Come on, you can do it.  Of course I can.  I have.  Its the non-hackers who will be the future of Jones with LP and GP.   All these cheerleaders on this site are the fortunate few who inherited millions, and would love to call me with their best sales ideas!  What a joke.  I have been with the firm for over 3 1/2 years.  It doesn't get any easier.  They say, "if you spend 20 years at EDJ it is the best 18 years of your life."  -meaning the first 2 years suck.  Well, that is a load of bullsh*t.  I've been their nearly four years, have brought in nearly 20 million in assets and I still struggle to feed myself.  The expense of your own office is enormous, especially if you only get .25% on service fees.... and all of my book is not Mutual funds.  I have a sizeable stock and bond business, which is like throwing money out the window at Jones -it took me two years selling to realize this.  But it IS in the best interest of the clients.  The downside is that a new guy who sells stocks and bonds will starve to death in the long run.  Hey, I'm just saying that the hand-outs need to be a little more equitable.  I'm not here to suck off Jones.  I'm just telling the truth.
Mar 13, 2007 5:00 am

[quote=EdJehovah][quote=Broker7]Broker24 wrote:



EdJehovah-

You're right - nobody ever started from scratch at Jones and made it.

JUST WONDERING..what is the % of hires that passes the 7

KYC, Evalgrad, doesn't inherit an office, doesn't accept a goodnight,

a true NEW/NEW makes it and is still with jones 5 years later?

My guess 3-10%

[/quote]   I would say, perhaps 5%.  It is not a number Jones even hints at answering.  Mention that question at your next regional summer meeting, and you will get dealt with.  Oh no, their is no challenging the Jones hierachy.  Just shut up, watch the fortunate few get a gravy train, and keep banging on doors.  Come on, you can do it.  Of course I can.  I have.  Its the non-hackers who will be the future of Jones with LP and GP.   All these cheerleaders on this site are the fortunate few who inherited millions, and would love to call me with their best sales ideas!  What a joke.  I have been with the firm for over 3 1/2 years.  It doesn't get any easier.  They say, "if you spend 20 years at EDJ it is the best 18 years of your life."  -meaning the first 2 years suck.  Well, that is a load of bullsh*t.  I've been their nearly four years, have brought in nearly 20 million in assets and I still struggle to feed myself.  The expense of your own office is enormous, especially if you only get .25% on service fees.... and all of my book is not Mutual funds.  I have a sizeable stock and bond business, which is like throwing money out the window at Jones -it took me two years selling to realize this.  But it IS in the best interest of the clients.  The downside is that a new guy who sells stocks and bonds will starve to death in the long run.  Hey, I'm just saying that the hand-outs need to be a little more equitable.  I'm not here to suck off Jones.  I'm just telling the truth.[/quote]

I am sure that some of what you say is true.

I am also sure that your attitude stands squarely between you and a larger paycheck, no matter where you hang your shingle.  Better check yourself bro and see if you can improve that a little if you want your business to pick up.
Mar 13, 2007 12:52 pm

EDJ SUCKS!  GO INDY, NOW!!!

Mar 14, 2007 4:13 am

Spears,

I think Ed is seeing the light!

Mar 15, 2007 4:07 pm

The last full year I was at Jones they posted numbers on the screen that indicated they hired about 200 new reps a month for a total of approximately 2,400 for the year.  The total NEW offices added was 10.

Of the 12 people in my KYC class only one is still with Jones INCLUDING the Visiting Vet, this is now five years down stream from KYC.

Edward Jones was a good place to start and they have a good strong well run back office.  I also believe their basic operating principles are sound and I'm grateful for the 2.75 years of experience I gained operating my office.

I'm now independent.  My clients are happy and so am I.  My income, in the first year I was independent was four times my best year at Jones.

I have three good friends, in the business, who started with Jones at the same time I did and each of us is now independent and loving life.  At the end of the day this business teaches you to act in your best interest.  You may conclude that EJ is the right place, if you conclude you would be better off someplace else, make the move.

Life is good!

Mar 15, 2007 5:25 pm

AMEN

Mar 15, 2007 6:36 pm

I left Jones at the end of last year.  In the past six months I have made over 100K net and have had my best year ever and it’s only March.  I could have never done that at Jones.  Life is good as long as I never have to work for Edward Jones again!!!  The amazing thing is that I stay in touch with my real friends at Jones and they are all happy for me.  The RL, on the other hand hates my guts, especially since I’ve taken another buddy with me and I’m working on more.  Goodbye E D J, hello good life!!

Mar 15, 2007 7:57 pm

I couldn’t resist.  EDJ SUCKS!

Mar 15, 2007 8:40 pm

come on Free, Spiffy told me you were an underperformer, soon to be fired, couldn’t recite the EDJ pledge at meetings --failure.  You had to move because EDJ didn’t want you anymore. So, I don’t know who the heck your kidding, but me and Weddle think your full of S*&T!! 

Mar 15, 2007 8:49 pm

OK OK OK…Weedle wants me to remind you about everything you left on the table. Trips…if you could mull through all the smoke and mirrors associated with the allocation of points…(weedle can’t figure it out either),  great fund families,  looooong term bonds, 4.25% Looooong term tax frees, A share (forgot about those didn’t you), spys, I mean BOA’s, your American Funds wholesaler coming by once every 18 months.  Regional meetings…there you go…great topics (rotated every 2.3 meetings), an ever revolving door of new people with sh*t coming out of their ears, revenue sharing, 31% net net payout.  You had better run back to your old office,Louis Wray is waiting…

Mar 15, 2007 10:07 pm

Holy crap!  Jim W and I just drove by your old office Free, and sure as the son is shining, Louie Wray is standing in the middle of your office with a big ass welcome back sign.  Jim was hiding in the back seat combing his hair, but I seen him.  How can you not go back free?  For a measley extra what…100k.  Your just down right not very intelligent…isn’t that right Jimmy boy.  Jim wants me to call Doug before he answers, just to confirm. WOW I"VE HAD A GREAT DAY WITH TRANSFERS!!!

Mar 16, 2007 12:07 am

[quote=bspears]Holy crap!  Jim W and I just drove by your old office Free, and sure as the son is shining, Louie Wray is standing in the middle of your office with a big ass welcome back sign.  Jim was hiding in the back seat combing his hair, but I seen him.  How can you not go back free?  For a measley extra what...100k.  Your just down right not very intelligent...isn't that right Jimmy boy.  Jim wants me to call Doug before he answers, just to confirm. WOW I"VE HAD A GREAT DAY WITH TRANSFERS!!!!!!!!!!!!!!!!!!!!!!!!!!![/quote]

Why not clinch the deal and throw in a Sam's club size toilet paper package?

Mar 16, 2007 12:44 pm

Man, I only post at work so I didn’t see those last offers.  Brittney girl, it’s true, by any of Jones standards I was an underperformer because I couldn’t figure out why they taxed me on $50.00 when I won a $12.00 smoked turkey.  I kept forgetting to kiss the RL’s butt at the meetings that were hosted in my office and remind everyone how great he was for spending time with us all one day a month.  Rust, if you make it 2 Sam’s packs of TP, I’ll come grovelling back and tell all of the clients I transferred that we need to go back to Jones because they ARE the best! NOT!!!

Mar 16, 2007 12:52 pm

Darn, I missed the turkey deal.  I too was amazed by the great gifts and then getting taxed on the sob’s.  Made me not even look at the promos going on…trimester, Tuesday and Saturdays.  Is shamrock Saturday tomorrow…sh*t, I better get my call list ready.  I know they’ll have a great bond to call on!!! 

Mar 16, 2007 12:59 pm

B,

You missed it!! It was last Saturday.  Now you don't get any brownie points from the RL because your region didn't have the required minimum participation to win money for a regional party.  If you'd been there the region would have won.  You slacker!!