Wachovia Guys
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All the tools except; a decent suite of advisor products, a robust list of SAM's/Funds, tactically allocated ETF portfolios, and planning software. It must have been fun charging clients 5.75% up front then having their portfolios go down an additional 5-8% every month for the past year. Statement shock anyone![/quote]Ummmm....get with the program, Advisor products? Check. ETF portfolios? Check. Planning software? Check.[quote=Eyetattoo] [quote=Baba Booey][quote=Eyetattoo] [quote=Don Draper] [quote=Fighting Chance]Seriously, if you want to be a broker come to jones. I will put in a word for you. Wachovia lol I love when I run into your clients and I run over you. muhahahahaaa[/quote]
why would anyone ever want to work at jones?
[/quote]Lets see… no layoffs, firm growth, and the best training in the industry for new Advisors. In this environment I don’t see a better firm to start with. You will get paid a salary during training, your first 12 month of production and you will get 40% payout with no hurdles(unless your in one of the 5 special states like me then you start at 36% and grid up). And many bonuses are available to you during your first 3 years. Dont just dismiss them take a serious look, chances are that once you work for Jones you will love it. Markets are tough right now but at least I have a Firm that is standing behind me and giving me all the tools I need to succeed in this business.
Just my .02
Next Question.
[/quote] Who are you kidding, do you even work there?? Your planning software is a joke... Your advisory program is really poor, automatically rebalances when percentages change too much(yeah that is a nice in a bull market but clients lost their rear when they went in to it in this market).. You can change anything in the program once it is set without having the clients redo the risk tolerance and then sign some more forms(while their portfolio is heading down).. [/quote]Yes I work at Jones. And in regards to the rebalancing....it did exactly what it was supposed to do during this down market, it has beat it and beat it well. Our planning software is just as good as any other in the market so I don't know what your talking about (yes Ive seen others too). You obivosly dont work at Jones and are basing your opinions on second had information.
Hey, leave the Jones Advisory program alone, they have at least 40 MFs in their program.
I have tried to stay away from Jones bashing... but...
I was there when they rolled out the advisory solutions as well as their financial planning software. They say that it is just as good, but really, it sucks. You'd be better off paying for your own. My question to the Jones is --- if it's as good as anywhere, what are you comparing it to? Give us some reason that it is truly as "good as anywhere". Get a trial of MoneyGuidePro and see what the difference is. As far as advisory solutions... it may have beaten the market, I'm not sure, but the crap bonds they have Jones brokers peddling and "buying and holding" for their clients are ruinous. But I do concur that Jones is a good place to get your feet wet and realize that you need to move on. If it were me, I would pick Jones before I'd pick Wachovia. Before I left Jones, I interviewed there, and can't say I would have liked it. Jones does a great job marketing to it's own advisors. Once again, great company to start with, just question every thing you are told.... it might not all be true.New Dude, Every Firm offers plenty of services and products. Training at XYZ Large Firm is Good to Great depending on how serious you take it and how much you put into it. Your success depends on you not the firm or environment. The rookies that succeed decide that this is it and they never look back. So here is what I think will make the difference for you in deciding what firm to go to. When you tell people who you work for are you full of passion that the people you work for have integrety and can be trusted at all times. People make mistakes, but , are they worth your trust and your client’s trust ? I should now take my own advice.
Thanks for all the replies, I really appreciate it.
One of the reasons Wachovia stands out to me is because I will be in an office with other brokers and won't be stranded on my own at EDJ. I also liked the branch manager and some of the other brokers I met, they seemed like sharp guys. The salary at Wachovia is also higher, there's another reason. I've read a lot about how Wachovia destroyed AGE and how the back office sucks, etc. etc. but not having worked there before and not having been in the business for very long, I'm not sure I'd notice. Plus, having worked for Smith Barney, I can tell you working with our back office ain't exactly a ball of joy. I do see what you are saying that most firms offer basically the same products and services. I'm really just looking for a place land and get my feet wet. If things aren't going well with the firm I choose then I'll start looking elsewhere, provided I've built a big enough book of course. I know Jones has that three year deal, does Wachovia or the other firms? Just wondering. Thanks again everyone.