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Jun 28, 2006 1:43 pm

BR-

When you consider the amount of time spent building and then maintaining the business, LP in that light (there is a quantifiable dollar per hour number for everyone)and the fact our sweat equity isn't enough to pay for it, could be one of the worst return on investments ever. Oh yeah I almost forgot. The GP's earn interest on the money they loan out for anything including LP.

To summarize for those who can't comprehend.

It's the mountaintop for the GP's. I keep repeating myself, the GP structure is a brilliant business model. It sucks for anyone with half a brain.

Jun 28, 2006 2:31 pm

Footsoldier -

If you clones would just listen to him with open ears and eyes you might just begin to understand why the Jones model is not what "they" make it out to be. 

The LP hook is like the 'ol story about the frog that allows himself to be boiled.  You start out in cold water and slowly turn up the heat and before you realize it, it's too late - the waters boiling and the frog is in to deep. 

FS - you keep it up you just might incur the wrath of Doug Hill.

Jun 28, 2006 4:55 pm

cs-

Who is them. And why would you assume that some can figure out the game, and then plan accordingly.

Were on the same side of the fence.

Jun 28, 2006 5:19 pm

FS,

You lost me, admittedly that's pretty easy these days, but I love what your doing on this site.

Jun 28, 2006 6:38 pm

CS-

Someone has to spell out the doublespeak. Sooner or later the smart IR's will leave when the stench becomes too much.

Like it or not, EDJ is not going anywhere. They have their little fifedom, and their love fests. I and others before and after me will see the light and move on.

I just wish I had come to terms with this sooner.

Jun 28, 2006 8:18 pm

[quote=footsoldier]

I just wish I had come to terms with this sooner.

[/quote]



THERE IT IS AGAIN!!  I love hearing that, since I am getting out
before I reach seg 4 and many assets.  I agree that you are very
healpful FS.
Jul 1, 2006 2:00 pm
footsoldier:

But Lawsucks my point to this was the GP’s are better off having 4 IR’s at 200K gross than 1 at 800K. The profit is not distributed down to the troops.




I think you are very bad at math or you just didn't think this through. 4 IR's = 4 times the expense. 4X BOA's, 4X rent, 4X utilities, 4X systems, 4X etc. If all 4 brokers were in the same office then your logic would make sense. You remind me of the Michael Moore's of the world. You let your emotions take control and they blind you to the facts. I think several have asked, when you are going to leave and stop feeding the GPs? The sooner the better...
Jul 1, 2006 2:05 pm

[quote=footsoldier]

BR-



It sucks for anyone with half a brain.[/quote]



Let me see if I’m following you.   You think EDJ sucks. And “it sucks for anyone with half a brain.” Does that mean you only have half a brain???





Childish? Yes I know.
Jul 1, 2006 3:05 pm

[quote=Incredible Hulk] [quote=footsoldier] But Lawsucks my point to this was the GP’s are better off having 4 IR’s at 200K gross than 1 at 800K. The profit is not distributed down to the troops.

[/quote]


I think you are very bad at math or you just didn't think this through. 4 IR's = 4 times the expense. 4X BOA's, 4X rent, 4X utilities, 4X systems, 4X etc. If all 4 brokers were in the same office then your logic would make sense. You remind me of the Michael Moore's of the world. You let your emotions take control and they blind you to the facts. I think several have asked, when you are going to leave and stop feeding the GPs? The sooner the better...[/quote]

Hulk, take a look at your P&L grid.  The lion's share of the expenses are borne by brokers grossing between $12-$20K.  So yes, there is profit in having large numbers of Segment 3 brokers. 

Jul 1, 2006 3:07 pm

IH-

I always enjoy intelligent conversation. I guess it will be hard to find any here. But I will continue to try.

I should have written half a brain IF I STAY.

I gave a significant number of years to this firm, I believed in this firm, and I have been bitterly disappointed in this firm. My epiphany started after the revenue sharing scandal hit. I started asking questions. I started reading and made my decision to leave. I haven't yet and I certainly can't or won't disclose when, but my time is coming.

You stay and enjoy your career. I could not continue to build a profitable business and not share in it. Nor could I sell it. I have many friends and clients who are business owners. I often ask them if they could walk away from their businesses with nothing. And they look at me and wonder why I could ask such a stupid question.

You will notice I did not denegrate EDJ. I just can't agree to represent them when in acutality they don't give a damn about me and act the opposite. The hypocrisy is stifling.

Jul 1, 2006 3:24 pm

Make that 156 and counting.  The broker in Jackson Hole, WY (just a slightly wealthy resort community) moved to LPL.  Uh oh…

Jul 1, 2006 3:46 pm

[quote=footsoldier] 

I gave a significant number of years to this firm, I believed in this firm, and I have been bitterly disappointed in this firm. My epiphany started after the revenue sharing scandal hit. I started asking questions. I started reading and made my decision to leave. I haven't yet and I certainly can't or won't disclose when, but my time is coming.

You stay and enjoy your career. I could not continue to build a profitable business and not share in it. Nor could I sell it. I have many friends and clients who are business owners. I often ask them if they could walk away from their businesses with nothing. And they look at me and wonder why I could ask such a stupid question.

You will notice I did not denegrate EDJ. I just can't agree to represent them when in acutality they don't give a damn about me and act the opposite. The hypocrisy is stifling.

[/quote]

Don't you independents pride yourself on not needing support, respect, or any of the other things that are showered on big producers at wirehouses?

Jul 1, 2006 7:00 pm

FootSoldier…your last post is so commonly felt by those of many wirehouses. You get a descent payout, but if you take into consideration the amount of risk you take, out of pocket expenses and the fact you can’t sell your business, it is mediocre unless you put together huge production numbers and get extra bonuses and perks from the company.



You put out so much of your own money to build the business when you are a W2 employee. Postage, telephone, misc office expenses & furniture, travel and fuel expenses, and a variety of of other business related and marketing expenses.

Jul 2, 2006 3:31 am

[quote=NASD Newbie][quote=footsoldier] 

I gave a significant number of years to this firm, I believed in this firm, and I have been bitterly disappointed in this firm. My epiphany started after the revenue sharing scandal hit. I started asking questions. I started reading and made my decision to leave. I haven't yet and I certainly can't or won't disclose when, but my time is coming.

You stay and enjoy your career. I could not continue to build a profitable business and not share in it. Nor could I sell it. I have many friends and clients who are business owners. I often ask them if they could walk away from their businesses with nothing. And they look at me and wonder why I could ask such a stupid question.

You will notice I did not denegrate EDJ. I just can't agree to represent them when in acutality they don't give a damn about me and act the opposite. The hypocrisy is stifling.

[/quote]

Don't you independents pride yourself on not needing support, respect, or any of the other things that are showered on big producers at wirehouses?

[/quote]

He's not indy yet.....
Jul 2, 2006 12:39 pm

Hulk, take a look at your P&L grid.  The lion's share of the expenses are borne by brokers grossing between $12-$20K.  So yes, there is profit in having large numbers of Segment 3 brokers. 

[/quote]

As a former IR who saw the light, that is exactly right!  Our RL even told us that at practically every region meeting.

Jul 2, 2006 12:41 pm

[quote=footsoldier]

IH-

I always enjoy intelligent conversation. I guess it will be hard to find any here. But I will continue to try.

I should have written half a brain IF I STAY.

I gave a significant number of years to this firm, I believed in this firm, and I have been bitterly disappointed in this firm. My epiphany started after the revenue sharing scandal hit. I started asking questions. I started reading and made my decision to leave. I haven't yet and I certainly can't or won't disclose when, but my time is coming.

You stay and enjoy your career. I could not continue to build a profitable business and not share in it. Nor could I sell it. I have many friends and clients who are business owners. I often ask them if they could walk away from their businesses with nothing. And they look at me and wonder why I could ask such a stupid question.

You will notice I did not denegrate EDJ. I just can't agree to represent them when in acutality they don't give a damn about me and act the opposite. The hypocrisy is stifling.

[/quote]

Footsoldier, no one could have said it better for those of us who left EJ.  Thanks for telling it like it is and not lowering yourself to the name calling and cheap shots that others on this board seem to enjoy doing. 

Jul 2, 2006 9:03 pm

[quote=footsoldier]

IH-

I always enjoy intelligent conversation. I guess it will be hard to find any here. But I will continue to try.

I should have written half a brain IF I STAY.

I gave a significant number of years to this firm, I believed in this firm, and I have been bitterly disappointed in this firm. My epiphany started after the revenue sharing scandal hit. I started asking questions. I started reading and made my decision to leave. I haven't yet and I certainly can't or won't disclose when, but my time is coming.

You stay and enjoy your career. I could not continue to build a profitable business and not share in it. Nor could I sell it. I have many friends and clients who are business owners. I often ask them if they could walk away from their businesses with nothing. And they look at me and wonder why I could ask such a stupid question.

You will notice I did not denegrate EDJ. I just can't agree to represent them when in acutality they don't give a damn about me and act the opposite. The hypocrisy is stifling.

[/quote]

I'll agree with the others, this is a great post. It's why I bailed from the cult not too long ago and went Indy. Freedom!

Jul 2, 2006 10:33 pm

For the younger people who are reading this stuff.

For reasons that I have not been able to determine--yet--this forum attracts an extraordinary number of people who want to whine about Edward Jones.

This industry is notorious for those who are not making it to whine--perhaps all industries are but I'm only familiar with this one.

If you're working in a Smith Barney office somewhere those who are struggling are going to blame somebody other than themselves--it's human nature to do that.

If you're working in a bank somewhere those who are struggling are going to blame somebody other than themselves--it's human nature to do that.

I suspect that the reason you see so much whining on these forums is because the whiners are fairly isolated in their small Jones offices.  Around Smith Barney or a bank there would be somebody to whine with--two guys who are eventually going to fail can whine to each other, reassure each other that whatever is happening (or more appropriately not happening) is not because of something that they are doing, or not doing.

So they don't need an outlet to vent their anxieties, to reaffirm that they're doing the right thing they go have a beer after work.

But if you work for Jones and are failing there is nobody to go have a beer with--so you log onto this forum where others who are failing will reassure you that Jones is to blame.

Jones is not to blame.  It's no more a "cult" than the Catholic church is a cult.  It is a highly regarded marketing organization.

Admittedly it has a bit of a multi level marketing twist to it--but you should see Primerica or WMA.

A few years ago I was an arbitrator in a case involving Jones and admit that I was concerned about what appeared to be a lack of supervision--or more clearly it seemed to me that what they presented as a supervisory structure would not be able to supervise.

But that is a compliance issue and has little to do with what the whining is about.

What amuses this aging veteran is how somebody whines about not getting support, but they're going to "go indy" where there is, by design, almost no support.

Somebody is whining about not having e-mail.  How basic is that?  A sixth grader can get his own e-mail address without any adult intervention.

The cold, harsh, unvarnished reality is that those who are whining about what a horrible place Jones is would be whining about what a horrible place Merrill Lynch is if they were there.

They're on their way out the door--not because their broker/dealer is failing, but because they are failing.

Everytime you read words like "Cult" and "Kool Aid" figure that it's somebody who is better suited for another career simply spewing bile because they're nervous about the future.

Wish them well in their next career.

Jul 3, 2006 2:32 am

Ahh now we get the true colors on Newbie.  I'll give you that those who are failing tend to migrate toward others that are failing.  But at Jones they have no more difficulty finding each other than at any other firm... ever heard of a telephone?

As for support and going indy.  I have not heard anyone complain about the support they got from Jones.  What I have heard and have said myself is that Jones has very limited platform and conflicted product offering. Both of these are greatly enhanced by going to one of the larger indy firms.

As for email.  Do you have a license to do business in this industry?  Are you suggesting that Jones IR's who want email sign up for a free Yahoo acct and correspond with clients that way?  And to think you were worried about supervision before?

Save your line about being in on an arbitration hearing. You sound more like a wannabe Jones home office clone or the janitor someone called you before.

As for calling Jones a cult.  Why dont you let those of us who were in it and left be the judge of that.  You are a dumbass.  Thanks for clearing it up finally.

Jul 3, 2006 3:04 am

[quote=unsunghero]

Ahh now we get the true colors on Newbie.  I'll give you that those who are failing tend to migrate toward others that are failing.  But at Jones they have no more difficulty finding each other than at any other firm... ever heard of a telephone?

As for support and going indy.  I have not heard anyone complain about the support they got from Jones.  What I have heard and have said myself is that Jones has very limited platform and conflicted product offering. Both of these are greatly enhanced by going to one of the larger indy firms.

As for email.  Do you have a license to do business in this industry?  Are you suggesting that Jones IR's who want email sign up for a free Yahoo acct and correspond with clients that way?  And to think you were worried about supervision before?

Save your line about being in on an arbitration hearing. You sound more like a wannabe Jones home office clone or the janitor someone called you before.

As for calling Jones a cult.  Why dont you let those of us who were in it and left be the judge of that.  You are a dumbass.  Thanks for clearing it up finally.

[/quote]

Unsung- I work at jones and I have email and it is not through Yahoo.