Edward Jones
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[quote=companyman]
Uh, Mr 24? If you haven’t figured it out yet…
you are paying for everything on the P&L. That’s where the other 60% of
your gross goes.
Don’t even pretend that after 2 years you really understand the P&L.
You may have gone through the training, but can you really off the top of
your head make sense of the variable numbers? As the gross goes up, so
do the expenses.
And really, how valuable is that stupid big humming box in your back
room? Is it really worth the $1000+ you pay for it? Considering that it
isn’t necessary anymore, why are you still paying for it?
Not trying to be a jerk, I’m just saying… with the amount of time you
(and I) have spent at Jones you don’t even know what you don’t know.[/
P][/quote]
Got it Big Guy. I wasn’t actually justifying it, just stating facts. I
understand exactly where it all goes. Maybe it’s my background in
accounting, but it just is not all that complicated. I’m not saying I love
paying 60% and hope to get some back through my bonus. I’m just
saying I know how it works. Not sure why more time at the firm would
make a difference. Can I make sense of the variable numbers? Sure. My
production goes up, so does the overhead allocation. That’s how
standard accounting works for profit centers. You allocate cost based on
some parameter (volume, etc.). Like I said, I used to do this for a living,
so it really is pretty simple.
Like I said, I used to do this for a living,
so it really is pretty simple.
I did as well, as a commercial lender analyzing P&Ls from some pretty substantial companies with complicated corporate structures. I know bull when I see it.
Have you reconciled the absurdity of charging the same for a T-1 line versus the outdated satellite system B24.
I know many in the telecom world who will tell you the actual costs are roughly 10% of the old system which was paid for many many years ago.
Frankly if you understood and you still choose to stay, the only person to blame is you.
The system is rigged for your bonus (even in the 50% bracket) to be trickled through you, but not for you to retain it. Again it ain't what they say, its what they do. The GP's are brilliant in their ability to brainwash the reps that they are fortunate to get a bonus....
I keep 100% of my net profit.....what a crock.
I think the best way to put it is you just eventually grow up and realize the world has a lot more to offer. The limited offerings and ways you could work with a client at EDJ was extremely difficult for me. My higher net worth clients wanted and needed a lot of different products and services. At EDJ if you worked for a client for 4 hours, researching divorce law and pension valuations, and helped them obtain $250,000 more in a divorce settlement, the only way you would get paid is if you ‘sold’ a product. I charge an hourly fee or a financial planning fee. If the client implements investments with me that is separate. You simply can’t call yourself a financial advisor if you are not allowed to advise AND charge a feee for that advice. JD Powers and Associates surveys look good, are part of the Public Relations machine, and even our local telephone company is ranked #1 by JD Powers and Associates. Sorry, have to run, need to get back on the phone with customer service with the phone company to get my voice mail fixed, oh and I have to use my cell phone to reach them because the phones are out!
JWCOPPER, I agree with your post, however; where did you dig up this old tread?
He’s been a busy little insomniac. He found our little spot on the net and has been digging and posting all night long. Evidently hasn’t figured out how to use the active posts button.
Spiff-
Do you get an extra attaboy to continuously be the voice of Jones on these threads? Does anyone question at home office all the responses you have made over the last couple of years?He’s hoping the GP’s will add “pumping EDJ’s on Forums” as a trip category…keep pumping…baby…
Do you get an attaboy from LPL or wherever you are for coming on this forum and being the anti-Jones voice? For every one of me there seems to be three or four of you.
If you guys would stop putting up so much anti Jones stuff for me to respond to I'd probably get bored and go grow my biz some more. Who knows, maybe I'd actually sit down and figure out my P&L and figure out exactly where it is that Jones is screwing me.Clarity. OK.
To whom are you trying to clarify things? I think B24, Miss Jones, and I (my apologies to all other Jones people I've missed) already have the clarity you are trying to impose upon us. Just because Jones hasn't pissed us off (or we misunterstood the situation to begin with) doesn't mean we don't clearly understand the difference between Jones and other firms. B24 & Miss Jones - Do you need spears to clarify anything about your Jones experience for you?Spiff-
I have purposely chosen not to respond as much on these forums since January. Guess what....My biz is on track to more than double this year. I am already at 32K net of all expenses for May, the best month ever...which was preceded by my best trimester ever. Believe me, I am nothing special. And what do I attribute it to? The great training EDWARD JONES I received. I am doing exactly the same things only now I am benefitting from it rather than your bosses. Now if you want to continue to defend your company at the expense of your own personal wealth....that is up to you. I have said it before and I'll say it again. Spiff you will be leaving EDJ at some point, you appear to be too intelligent for them. The clarity you speak of will come when you have worked for other firm(s).From the writings of B24 and Borker, they have some clarity…you my fine friend, don’t. Miss Jones has MUCHO clarity…among other attributes.
Does anyone know when we are getting our sales contest Turkeys? Are those taxable?
I don’t think any of them have clarity. I think they have pudding for brains. You’re nicer than me. I take that back. B24 has some clarity. Miss Jones is nice—blonde maybe, but no clarity. Spiff—way out there, as his name suggests. Borker??? ya think? I don’t.
Spiff just doesn’t know what else is available. He’s not stupid…just loyal to the core. Jones is lucky to have him for now.
Agreed...Spiff just doesn’t know what else is available. He’s not stupid…just loyal to the core. Jones is lucky to have him for now.