i agree with horse.  You can apply the same logic to almost any large company in America.  There are people in every organization that make more and probably dont deserve it.  Its too complex to decide who should be rewarded and who should'nt.  Some of us actually like being in an office by ourself and some want to be in that corporate america zoo.  While it's not for me, it is for some.  Some folks only want to be in the field a short time, find out that retail is not for them, so they go to St. Louis.  Fine with me.  I like where I live.

Joe, It just shows “Do whats right for the client is ALL we believe in”…is…well…very damn lucrative!! Also, the footsoldiers are stupid.

I'm amazed that Jones gets bashed so hard for having execs who get paid a decent amount of money.  Doing what is right for the client is EXACTLY why the GPs can make the money they do and the FAs can continue to make the money they want.  The footsoldiers aren't stupid.  Not any more stupid than the guys who work for any other brokerage firm where there's a grid.  We know who we work for and if we decide to continue being footsoldiers it is with eyes wide open. 

Joe - It doesn't bother me that the top 4 execs were Jones people.  I'm happy for them.  I'm confident my name won't be on that list anytime soon, so I just look at it and shrug.  Maybe next year. 

OK spears, let's see you come up with some ideas that would fix Jones.  You run your mouth ALOT bashing Jones, but you have NEVER said anything about how you would have changed things if given the opportunity.  So, here's your chance.  Give us your best thoughts on how to turn Jones into a place that you would have been happy to associate with for the rest of your career.  Don't chicken out and give me a "you couldn't pay me enough to stay at Jones" answer cause that's just crap.  You just replaced Weddle.  What now smart guy? 

Spiff,

Good response.  You're right to say we all have our reasons for working where we do, and there are better places for some and some places none of us would work. Enjoy your time at Jones and stand-up for what you believe in.  BSpears, you had your reasons for leaving and so did I.  Obviously, we weren't asked how we thought things should be run, but I'm interested in your thoughts.  Be creative and be profitable!!

Why would I give you losers any ideas on how to fix the fraud machine.  I only point out the other side of Jones…not the…we’re the best firm to work for , we’re the only firm that does what’s right for the clients…blah blah blah…your all frauds…GET BACK ON YOUR DAMN PHONE SPIFFY…BEFORE I CALL YOUR SEGMENT 2 LEADER…

Spaceman Spiff is Jim Weddle.

Joe, Why would I sit here and waste my time trying to move EDJ’s forward?  If you think its a great firm, join the green and yellow. Tell us about it when you get done doorknocking, piker.

Weddle would be to busy coming his hair to post…even I know that…

I figured that would be about what I would get.  I didn't think that you would pony up and actually share some rational thoughts behind the problems at Jones and how, if you were in charge, you would fix them.  I'm beginning to think you're incapable of anything other than the anti-Jones hate talk. 

So, let's try this again.  You've just been named Managing Partner at Jones.  What do you fix first?  How do you make sure that Jones is around 10 years from now and that clients are happy and well served?

I'll open it up to anyone else.  If the GPs read this forum like everyone says they do, maybe they can pass one of our ideas off as their own. 

Forgive me Joe, I am bitter.  I will admit I HATE EDJ’s. I trully think they are the most underhanded firm in the industry.  They go around spewing this propaganda and the other hand is in the back pocket of the IR and client.  Just the worst in my mind.  Have you ever seen the movie on Enron…makes me think of Jones.

My first move as Managing dirtbag,

FIRE SPIFFY for low production and to many internet forum postings.

1. get rid of the antique DOS based techonology system and create a high speed internet system of research and storage capabilities.   Have a storage/library on line of forms from the various vendors that are commonly used and keep it up to date.  Client approved reports and sales materials to keep each rep from having to invent the wheel and download duplicates.  Library of approved letters. 

2. Set up a series of interactive web seminars and training sessions.  Get rid of the time consuming traveling that burden the IRs. Especially those in more remote and rural areas.

3. send the Regional Leaders to some sort of management training.  Give some of them a personality transplant. 

4. More accountability and oversight of the actual management skills of the RL.   Get rid of the nepotism and favoritism in the regions.  A bad RL can kill the momentum in a region

5. Eliminate the point system for trips and incentives that tend to encourage the reps to jam clients into inappropriate areas so they can get the points they need.  In fact, get rid of the trip/reward system anyway as the SEC and NASD are looking askance at this.

6. Create a user friendly and economical fee based platform.  Make sure that people actually are trained and understand the system.

How's that for a start.

The rest of my 10

2. Kick Bachman to the curve

3. Make D Hill clean the bathrooms

4. Tell the mutual fund preferreds how sorry I was for EDJ's holding a gun to their heads, and have Hill and Bachman bend over so they could wip their ass with a board.

5. Change the payouts to 55% on ALL trades + pay the expenses of the office..except TP. (Thats for you Joe)

6. Eliminate the love making at Regional meetings between RL and wannabes

7. Base LP on tenure and nothing else

8. Sell myself to Amway

9. Allow no one to take over a large office with less than 10 years experience

10. Sell all non producing assets and focus on putting more money into the IRs in the field.

Bunny, your articulate and I'm rough around the edges, but we have like thoughts.

I’ve heard about the Personality Transplants they are doing now.  Some neat technology!!

Bunny:

I found your list very interesting because you could have said the same things about EDJ when I left them in 2000.  Jim Weddle is a good man and he has a long way to go to turn the firm around and get it into the 21st Century.  If he doesn't, Big Bad Wachovia is just down the road.

IndyEDJ

Also, I would print the correct day we were founded and not some bullsh*t year...

[quote=bspears]

Also, I would print the correct day we were founded and not some bullsh*t year...

[/quote]

I had the Ted Jones picture on my wall (the one at the farm with the dogs), and a client asked me who it was. I told them that it was the founder's son. They thought for a second and then said "I thought y'all were founded in 1870-something."  That was fun to talk my way out of.

My first move as managing partner would be to fix the BS P&L statements.  I think I was one of like 4 people in our region who could actually read them.  That stupid "allocation" number is crazy, and don't get me started on P&L "credits." 

Oh look, you made a profit, let's put that profit number into our Jack Lalain juicer (ie, the profitability bonus calculator), and see what comes out. So, for your $10,000 profit this trimester, your bonus is $193.  Congrats.