Jones Fence Sitters Real Issue Discussion
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Watch those three day weekends...............
Things they are a changin..............
If you Jonsers have the balls you need to follow the 25yr vet that just got smart................
Page 2 of the discussion a question was asked about how much of your book left with you; the important part of that answer and the way you should look at it when you transfer is what portion of your production will move or did move with you. It doesn't matter if you only take 50% of your book when of that 50%, 80% or more is where your production comes from.
[quote=Cowboy93]
Big producer in West Texas to UBS last week.
[/quote]
Then I guess he wasn't a very bright big producer....lol
To any Edward Jones IR's looking to better themselves read this
Fellow DRONES and CLONES, once I left Edward Jones and started talking to Wholesalers, I heard a totally different story about how Doug "3 Mil"Hill squeezed and squeezed Mutual Funds and Annuity Companies for sweet heart deals, and it wasn't for commission to the individual IR, but for revenue to the FIRM.... What happen to that only source of income being the IR's?
The FACT is I now receive the COMMISSIONS Edward Jones the FIRM was getting, not what the IR was getting told they were, and it is a much higher percentage! Also figure I know get 90% to 95% not 38%from what the BD gets, only this actually shows up, when at Jones I had know idea what the REAL COMMISSION to the BD was, and neither do you now?
How much does an IR at Jones really leave on the TABLE........YOU HAVE TO DO THE MATH TO BELIEVE IT By, the way ask your wholesaler, if he or she works with other Firms, what the payouts are for Indy's, most wholesaler Firms are told by Edward Jones not to discuss payouts for other Firms, and why is that? .........You won't beleive the difference!
When you finally figure out the whole TRUTH, you will leave or ask for a higher payout, and then leave.................I did..............
Well said PLAYER....I always hear the I get 40% payout story but like you said; you get 40% of what? Great example is insurance business. Most know that insurance BGAs or firms themselves establish a deal with b/ds on compensation. On top of that some b/ds take the override too so they double dip. So when say a company like Hartford agrees to compensate Jones 2-3% of premiums that is what Jones is getting for insurance. But, now Jones goes and takes another 60% or so from it's advisors on the insurance business they wright. VAs work the same way too and firms like Jones, AG Edwards and a few others are notorious for taking the additional haircut.
Imagine being free of that so you actually can get 100% payout on insurance business. Oh, I know it isn't always about the money though, right?
For the guy in west TX that went to UBS. Why was he not very bright for going to UBS ?
10 REASONS I AM THANKFUL I LEFT EDWARD JONES......
10. FREEDOM
9. HIGHER PAYOUTS ON MUTUAL FUNDS
8. MANAGED ACCOUNTS / FEE BUSINESS
7. MEAININGFUL SOFTWARE
6. HIGHER PAYOUTS ON STOCK SALES
5. HIGHER PAYOUTS ON ANNUITIES
4. HIGHER PAYOUTS ON LTC
3. HIGHER PAYOUTS ON LIFE INSURANCE
2. PAYING A LOT LESS FOR COMPUTER SERVICES
1. NOT HAVING TO WAIT TO GET A BONUS THREE TIMES A YEAR IF THE GP'S SAY SO, SINCE WE GET PAID WEEKLY
Bench Warmer,
It’s interesting that you didn’t mention your CLIENTs being better off. Are there any reasons your clients are thankful you left Edward Jones?
BPD
BigPayDay
Just in case you haven't read this:
TOP 10 REASONS MY CLIENTS ARE GLAD I LEFT EDWARD JONES:
10. My clients also like the FACT my FIRM wasn't hit for 75 million in fines and facing close to 1 Billion in CA settlement.........
9. FEE BASED BUSINESS (NO I WON'T EDUCATE YOU ON WHY IT'S BETTER THAN A SHARES) MY CLIENTS LOVE IT
8. WHEN MY CLIENTS COME IN IT IS FOR SERVICE, NOT SELLING THEM THE "FLAVOR" OF THE MONTH LIKE YOU STILL DO...........DO THEY STILL HAVE THOSE SATURDAY PROMOTIONS, LIKE SELLING A "STOCK" or 'BOND" or A PARTICULAR "MUTUAL FUND" OH, YEA BFD, THAT'S REALLY TAKEN CARE OF YOUR CLIENT ISN'T IT? Do you think they don't know it?
7. BY THE WAY MY CLIENTS DO READ THE "WSJ" SO THEY ARE VERY PLEASED I LEFT..........They relate to the articles.
6. The don't have a nebie that Edward Jones put in my old Office, that's still wet behind the ears
5. They really love our customer statements, it really smokes Edward Jones statements
4. They love our financial plan, that is reinforced every quarter when we have our review
3. They love that we don't bug them with unecessary crap that is mailed in their Quarterly statement.
2. They LOVE NOT PAYING HIGH COMMISSIONS........
1. THEY LOVE THE FACT THERE IS MORE THAN ON IR IN OUR OFFICE, AND ALL OF OUR STAFF IS LICENSED SO THEY DON'T HAVE TO CALL SOME DIM WIT IN ST. LOUIS TO GET AN ANSWER......
HAPPY THANKSGIVING