Small Victories (Still standing)
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Sword, you forgot the part about some young upstart in the "PASS" program. One of those little darlings, probably has to hang aroung STL for another month. It is tough on those folks. Usually a relative of some Jones vet, they have to move to HQ and learn the business for a year or so before they can take over a prime vacated office. It is quite a hardship being raised like "Little Lord Fontleroy" going on Div trips with your parents most of your life, then having to give that up for a year while you are learning the biz in STL waiting for a good office to open up. I imagine there will be plenty of opportunities for the PASS program kids this year.
I love the posts! A TR just got my old office. We’ve known each other for a while now, very likable guy, but he phoned to tell me he has no idea what he is doing and was wondering if he could call from time to time for advice, on my old clients! Pretty sure that violates some confidentiality agreements.
Hate Jones but have to ask about compensation for TR's. Pretty sure they're straight salary...used to be able to get commission and trips but not anymore...typical salary is $60k and all the travel you want. Great opportunity to see the country on the company's expense account but not great with a family.The reason this is so damn funny is that it is not that far from the truth. I can’t wait for Part III…
Really good stuff. He should be a writer - would work great being independent - writing a few newsletters, a lot better than puffing up the Jones name.
B24 - I’m not sure that it’s that much time on his hands that he has. Just what he’s experienced.
No commissions for TRs any longer. Straight salary.
DB - while there have been and will continue to be some FAs relatives go through the PASS program, the vast majority of them are not. They're just normal people looking for a way to get started in this biz. Some are recent college grads not quite ready to hit the ground running. Others are Jones FAs who didn't know they weren't quite ready to hit the ground running and just need a little practice before they go for it again. Jones started that program specifically to train people to take over existing offices. Some of them get really good offices, some of them don't. They all have to work just like the rest of us once they've left the safety of the home office.Sentiment is perfect. I am one of the few Seg 1’s that is exceeding in my area. Ocassionally I look down, and realize I have bowling balls in my pants. I am sure there are some people at The Compound are readjusting some plans…
Sword, beautiful writing. Hang in there.
Space, I appreciate you coming on here to correct me. Most PASS program grads are not relatives of large Jones producers. The producer offspring generally go straight to the Goodknight program.That one is true. I have that plan for myself. One of my kids should be getting out of college about the time I'm planning to retire. I'd hate to see my book that I worked so hard to build go to some anonymous PASS program grad (no offense to the PASS program people reading this).
I just hope that one day I can hand over the keys to my $200 million office to my son or daughter and say enjoy the ride. I worked hard to get here, don't screw it up.I hope to earn enough doing this business so that my children can go off and do something enjoyable. I’m planning on selling it, not turning it over to them, I love my children.
I felt guilty for my dark humor so I just deleted my posts.
The firm just gave us a break and I appreciate it.
Sword,
Perhaps they changed because of your prose! For your next post, ask for 70% payouts and free toilet paper.