[quote=NASD Newbie][quote=Devoted SA]

Lots of over-saturation in small towns can cause unintentioned competition.

[/quote]

Oh no, four or five offices in a town.

What about an AG Edwards branch with, say, fifteen producers.

Do you suppose they whine about "unintentioned competition?"

How about a firm with a producing manager--if you think it's bad to have a guy with the same broker dealer prospecting your accounts you should experience having your branch manager prospect your account?

[/quote]

I guess it's clear from your post that management can't be trusted.  So sad.

[quote=Philo Kvetch][quote=NASD Newbie][quote=Devoted SA]

Lots of over-saturation in small towns can cause unintentioned competition.

[/quote]

Oh no, four or five offices in a town.

What about an AG Edwards branch with, say, fifteen producers.

Do you suppose they whine about "unintentioned competition?"

How about a firm with a producing manager--if you think it's bad to have a guy with the same broker dealer prospecting your accounts you should experience having your branch manager prospect your account?

[/quote]

I guess it's clear from your post that management can't be trusted.  So sad.

[/quote]

Did I say the manager was attempting to take the account?  How about this scenario?

You have a client who is marginally happy, enough to not be complaining but not enough that they don't sometimes think of changing to another advisor.

One day his phone rings and it's your manager calling him.

[quote=NASD Newbie

Did I say the manager was attempting to take the account?  How about this scenario?

You have a client who is marginally happy, enough to not be complaining but not enough that they don't sometimes think of changing to another advisor.

One day his phone rings and it's your manager calling him.

[/quote]

And this NEVER EVER happens at the kool-aid ranch right?

[quote=Revealer]BL: They should run this post in Reg.Rep. Magazine.[/quote]

Don't see that happening as long as the advertising dollars are flowing...

[quote=Indyone]

[quote=Revealer]BL: They should run this post in Reg.Rep. Magazine.[/quote]

Don't see that happening as long as the advertising dollars are flowing...

[/quote]

Ad dollars?  I've never seen an EDJ ad in Registered Rep.

[quote=Philo Kvetch][quote=NASD Newbie][quote=Devoted SA]

Lots of over-saturation in small towns can cause unintentioned competition.

[/quote]

Oh no, four or five offices in a town.

What about an AG Edwards branch with, say, fifteen producers.

Do you suppose they whine about "unintentioned competition?"

How about a firm with a producing manager--if you think it's bad to have a guy with the same broker dealer prospecting your accounts you should experience having your branch manager prospect your account?

[/quote]

I guess it's clear from your post that management can't be trusted.  So sad.

[/quote]

He knows because it happened to HIM once.... sniff sniff sniffle.

[quote=Revealer]BL: They should run this post in Reg.Rep. Magazine.[/quote]

They wouldn’t dare…would piss off too many of their advertisers…

Oh no, say it's not so.  You mean that a big hitter comes into an organization with some prestige--a title.

I'll bet that never happens at Merrill Lynch--they'd never recruit somebody from another firm and make them a Vice President right off the bat.

No sireee, that is just not nice at all.  Being nice is what matters.

[/quote]

Maybe this is my naive te coming out, but isn't there a pretty distinct difference between a VP at ML (for example) and a partner at Jones?  I've never run across a wirehouse broker saying they're pissed because they aren't a VP or whatever the title may be, but have seen many at Jones who are frustrated about getting passed up for partner.

[quote=BrokerRecruit]

Maybe this is my naive te coming out, but isn't there a pretty distinct difference between a VP at ML (for example) and a partner at Jones?  I've never run across a wirehouse broker saying they're pissed because they aren't a VP or whatever the title may be, but have seen many at Jones who are frustrated about getting passed up for partner.

[/quote]

Titles and access to bonus pools are things that are earned.  Like respect, it must be earned it is not given.

That does not mean you must earn it where you are.  If Bob Broker has been in the business for a number of years and hit good numbers where he is a firm that hires him will reward him as if he had been hitting those numbers there.

If Bill Broker, a journeyman rep in Bob's new firm does not get a similar reward it is not because Bob got it, it's because Bill has not earned his own share of the respect.

There are no a certain number of Vice Presidencies, or partnerships, and if you get one and I didn't it's because you got the one I should have gotten.

[quote=NASD Newbie]There are no certain number of Vice Presidencies, or partnerships, and if you get one and I didn't it's because you got the one I should have gotten.[/quote]

It is NOT because you got mine!  I swear that was there when I hit the send button!

[quote=NASD Newbie][quote=BrokerRecruit]

Maybe this is my naive te coming out, but isn't there a pretty distinct difference between a VP at ML (for example) and a partner at Jones?  I've never run across a wirehouse broker saying they're pissed because they aren't a VP or whatever the title may be, but have seen many at Jones who are frustrated about getting passed up for partner.

[/quote]

Titles and access to bonus pools are things that are earned.  Like respect, it must be earned it is not given.

That does not mean you must earn it where you are.  If Bob Broker has been in the business for a number of years and hit good numbers where he is a firm that hires him will reward him as if he had been hitting those numbers there.

If Bill Broker, a journeyman rep in Bob's new firm does not get a similar reward it is not because Bob got it, it's because Bill has not earned his own share of the respect.

There are no a certain number of Vice Presidencies, or partnerships, and if you get one and I didn't it's because you got the one I should have gotten.

[/quote]

However, If Bill and Bob both got brought up on charges of fraud, money laundering and other forms of financial debauchery and found themselves in the same prison with you, they would still both fight over who got to kick your a**!

The boys and girls are invited to notice that fools like this munytalks cretin cannot offer a intelligent response to what I have to say.

That would be because he's an intellectual lightweight.

DevotedSA must be even lighter--she couldn't even come up with an incomplete sentence.

Journal Entry (NASD NEWBIE)

July 7,2006  at  11:58pm

Dear Diary,

Today I made 216 posts on Registered Rep Broker Forum. I was very witty, intelligent and quick to post every possible topic.

I made one Boo Boo- but I caught it and everyone laughed at my sharp humor. I have so many friends. It's not like when I was in school and none of the other boys would let me play baseball.

Anyway on here, no one can dunk my head in the toilet. Or pull my pants down in front of the teacher. Or duct tape my mouth shut. I can just talk and talk and talk. And EVERYONE really loves me.

I must go to bed now. I have to be up in two hours to start posting again. EVERYONE just loves what I have to say. 

I am so important.

I am so smart.

Love,

Nasd Newbie

P.S. XXXOOO to you Put Trader and Big Easy.

How's this Nasty Newbit?

I was SO distraught over your witty reparte' and my obvious inferiority, I decided to end it all. Yep, I was going to end my life over your vast stockpile of knowledge about Edward Jones, and my inability to compete.

So I tapped out a crudely written, poorly thought out suicide note..."Nasty's right...he knows EVERYTHING, he's SO smart, he's going to save the young people" Then I climbed atop my desk, opened my window, and crept out onto the ledge.....and I JUMPED!

In my despair I forgot our office is on the ground floor, so all I really did was break the heel off my new Manolo's and skin one knee. At this point I realized life was worth living, so I hobbled off to SBUX for a green tea frappucino!

Cheers!

[quote=munytalks]

Journal Entry (NASD NEWBIE)

July 7,2006  at  11:58pm

Dear Diary,

Today I made 216 posts on Registered Rep Broker Forum. I was very witty, intelligent and quick to post every possible topic.

I made one Boo Boo- but I caught it and everyone laughed at my sharp humor. I have so many friends. It's not like when I was in school and none of the other boys would let me play baseball.

Anyway on here, no one can dunk my head in the toilet. Or pull my pants down in front of the teacher. Or duct tape my mouth shut. I can just talk and talk and talk. And EVERYONE really loves me.

I must go to bed now. I have to be up in two hours to start posting again. EVERYONE just loves what I have to say. 

I am so important.

I am so smart.

Love,

Nasd Newbie

P.S. XXXOOO to you Put Trader and Big Easy.

[/quote]

Now thats funny!

Newbie--

Often time the partnership at Jones it not earned--it is in fact given.  You see, you have these idiot, immature children and relatives of GPs who are given enormous opportunities through assets and clients that are simply handed to them for no reason at all.  This puts them on the fast track of racking up Limited Partnership, thereby greatly enhancing their chances of one day becoming General Partners. 

The analogy I use all the time is that it would not be unlike a full-bird colonel's son or daughter entering the ranks of the Marine Corp as--let's say a major or lieutenant colonel.  They have no military background, don't know how to wear their uniform, don't have to have the same haircut as everyone else, are immune from following the same rules as everyone else, and get to magically skip over the "time in service" and "time in grade" requirements necessary to everyone else for promotion.  So, for the guy who has busted his ass and been a great Marine and leader for five years, completed his master's degree on the side in the evenings, and is respected by his peers, subordinates, and superiors just to make captain......well, he's just a little bit pissed. 

[quote=Soothsayer]

Newbie--

Often time the partnership at Jones it not earned--it is in fact given.  You see, you have these idiot, immature children and relatives of GPs who are given enormous opportunities through assets and clients that are simply handed to them for no reason at all.  This puts them on the fast track of racking up Limited Partnership, thereby greatly enhancing their chances of one day becoming General Partners. 

The analogy I use all the time is that it would not be unlike a full-bird colonel's son or daughter entering the ranks of the Marine Corp as--let's say a major or lieutenant colonel.  They have no military background, don't know how to wear their uniform, don't have to have the same haircut as everyone else, are immune from following the same rules as everyone else, and get to magically skip over the "time in service" and "time in grade" requirements necessary to everyone else for promotion.  So, for the guy who has busted his ass and been a great Marine and leader for five years, completed his master's degree on the side in the evenings, and is respected by his peers, subordinates, and superiors just to make captain......well, he's just a little bit pissed. 

[/quote]

No, it's called envy and it is not a good emotion to allow to creep into your psyche.

My point is this.  You can become a limited partner or a general partner by doing whatever it takes.

It does not matter if somebody else is given the assets for some reason or another.  It does not matter if somebody else got "lucky" and as a result made limited or general partner.

In the grand scheme of things your time would be best spent working on your own career instead of spending even a moment suffering from anger or envy.

NASDY Newbie,

I agree with you that it takes nothing away from me for someone to take over a large office or get some special treatment because they are related to the right people.  I never felt any animosity toward the people who started with me and had a leg up.  I got what I was promised and it was my job to make it work. 

HOWEVER, I will call BS when I see it.  When Jones would bring in hot shot new brokers from other parts of the country to talk to the new brokers in my region and make them feel like they are slackers because they are not putting up the numbers these guys are, only to find out that nearly all of these folks inherited large books of biz I call it BS.  Jones does this chronically.  They tell a group that so and so started from scratch and in 18mos has 25million under management so listen to what they have to say.  That is BS Nasdy

[quote=exdrone]

NASDY Newbie,

I agree with you that it takes nothing away from me for someone to take over a large office or get some special treatment because they are related to the right people.  I never felt any animosity toward the people who started with me and had a leg up.  I got what I was promised and it was my job to make it work. 

HOWEVER, I will call BS when I see it.  When Jones would bring in hot shot new brokers from other parts of the country to talk to the new brokers in my region and make them feel like they are slackers because they are not putting up the numbers these guys are, only to find out that nearly all of these folks inherited large books of biz I call it BS.  Jones does this chronically.  They tell a group that so and so started from scratch and in 18mos has 25million under management so listen to what they have to say.  That is BS Nasdy

[/quote]

I agree.

That said, how do you find out that such and such a broker was handed a large book of business?

Could it be that your source is wrong?