Just remember, the company you work for, Jones or whoever, is not your friend, benefactor, daddy etc. Loyalty is a fools errand. Large companies have been taking advantage of employees for a long time. Protect yourself. Plan accordingly. And set yourself up to go independent. That way you can use Jones to learn the basics until you are able to set up your own shop where you can run an ethical fee-based business, rather than the churn churn churn of the current E/J recipe. Get good legal advice sooner rather than later. A no compete for a small <50mm FA is probably not worth trying to enforce.

ytrewq - I think you did something to piss off 52 - were you his advisor?!  

He has it in for Seg 5’s like you.

[quote=52new]Me thinks you protest too much![/quote]

Methinks that “Me thinks” is how Neanderthals used to speak.  God, but you’re a moron.

What’s worse, a moron, or the idiot that can’t keep from responding to him? If BS had value, you’d be a very rich man.

The moron is worse.

[quote=52new]Me thinks you protest too much![/quote]

Methinks that “Me thinks” is how Neanderthals used to speak.  God, but you’re a moron.

The real mystery is how he got to be in his 50’s without getting killed.  There is a reason they have the Darwin awards.  

[quote=52new]What’s worse, a moron, or the idiot that can’t keep from responding to him? If BS had value, you’d be a very rich man.

Hit another nerve. If it weren’t an issue then it wouldn’t register a response. All about the customer? Right.

[quote=52new]Hit another nerve. If it weren’t an issue then it wouldn’t register a response. All about the customer? Right. [/quote]

Poor 52. 

I figured it out.  Mel told him that he was an EJ broker, told him he should short the market 'cause it was going to 950 and lost his 52’s life savings of $1200.

That thing isn't worth the paper it is written on. 

Most non-competes are non-enforceable.  Even the Supreme Court has weighed in on this.  However, a non-solicit clause is different.  EJ's contract has already been shot down in several state courts regarding EJs mentality that the clients are EJs.

With that said, spend $500 and have a lawyer look at it before you sign it, and let you know how to get out of it without having a war of letters between attorneys.

I left within the 3 year mark and took 80% of my assets.  EJ never even came after me.

I knock these posts all have some good advice. First I am glad that you are looking down the road...that is smart that you actually read the contract. When I came on board with Jones I did not read it because they buried it somewhere and promptly mailed me a copy 2 days after resigning.  There is no easy way to leave jones they only way to do it effectively is to bring value to the table and make an effort from the onset to sell yourself not the company. From the beginning you will be trained to tout the firm..because you are new but keep in mind what you are doing. The cases where I have seen Jones brokers take most of their book is when they were in a small town everyone loved and respected them. Other than that if you leave and there is a weak spot in your game it will be exploited.

From my experience you are correct..Jones knows that the formula works..25 quality calls/contacts a day works. I have only met a few people who can do it consistently. Those people did very well and made a lot of money. The other side of the coin is that they created a monster of an office because there were too many households. Hence the goodknight plan..They are like McDonalds or Coke or Pepsi...etc... they have a process that statistically will work just about anywhere.. yes there will be the situations where you'll have a strange circumstance where it doesn't work.

Jones is also not part of the broker/dealer protocol...The clients will always be "thiers" no matter what you say..although the do have the right to work with who they want.

Advice given before is spot on..If you are OK with the contract and your possible goal of going indy you are one step ahead because most Jones brokers don't think about how to get out vs thinking about it before the marriage...sounds like you want a pre-nup but there isn't one on the table..I have to commend you for thinking ahead and knowing where you want to go..but like the other comments...have a short term plan and long term goals.. Good Luck to you

I have been searching the forums and cannot find much on what Jones does to enforce the contract.  I just left to take a position elsewhere and I do not see other people's experiences posted here.  How did they negotiate their contract to not pay back training fees?   

Maybe there is some sort of gag order?  I left on good terms and do not plan on taking my book of business.  It was a great opportunity, but just not for me.  I have not been there for 3 years, closer to 2.  I wish no ill will, just need to make a change.

If they require reimbursement, you will be notified by their attorney. I have heard stories about FAs receiving one letter, no letters and/or receiving letters certified with delivery signature. You can decide if and when to respond. I have heard they will negotiate the amount down to .05 on the 1.00. With you being there over 2 years I would guess it will be minimal anyway. Good luck...