What are production assets?

Production assets is how much your firm charges your clients.  If you had 20 million under your control your firm usually charges 1% which is your production assets.  1% of 20 million is 200,000.  Then you get a percentage of that which is usually 40%.

Oh. I think you need to have eleventy kabillion in production assets.

The biggest question for you is can you get up to the level of production

needed at Jones to be considered by one of the bigger players.   Seek the

answer to that question first. Ask the new guys how they are doing and not

the regional leaders.

The biggest question for you is can you get up to the level of production
needed at Jones to be considered by one of the bigger players.   Seek the
answer to that question first. Ask the new guys how they are doing and not
the regional leaders.

[quote=The Truth]The biggest question for you is can you get up to the level of production
needed at Jones to be considered by one of the bigger players.   Seek the
answer to that question first. Ask the new guys how they are doing and not
the regional leaders.[/quote]

That is why I am asking how much in production assets you would need before they will look at you.  I can't ask whether or not I can get up to the level of production needed before the major firms will look at me unless I actually know how much that will be.  Someone who knows more about this please respond.  Thanks

[quote=son1997]

[quote=The Truth]The biggest question for you is can you get up to the level of production
needed at Jones to be considered by one of the bigger players.   Seek the
answer to that question first. Ask the new guys how they are doing and not
the regional leaders.[/quote]

That is why I am asking how much in production assets you would need before they will look at you.  I can't ask whether or not I can get up to the level of production needed before the major firms will look at me unless I actually know how much that will be.  Someone who knows more about this please respond.  Thanks

[/quote]

Why are you even worrying about this? Go get hired and get to work. If you're worthy of working at a "large" firm, you will be hired by one.

[quote=My Inner Child][quote=son1997]

[quote=The Truth]The biggest question for you is can you get up to the level of production
needed at Jones to be considered by one of the bigger players.   Seek the
answer to that question first. Ask the new guys how they are doing and not
the regional leaders.[/quote]

That is why I am asking how much in production assets you would need before they will look at you.  I can't ask whether or not I can get up to the level of production needed before the major firms will look at me unless I actually know how much that will be.  Someone who knows more about this please respond.  Thanks

[/quote]

Why are you even worrying about this? Go get hired and get to work. If you're worthy of working at a "large" firm, you will be hired by one.

[/quote]

Please quit posting on here if you have nothing valuable to say. I do not want to get stuck at Edward Jones. This is why I am asking.  I do not want to work there if you cannot switch over to a major firm.  Please post only if you are going to answer my original questions.  Thanks

[quote=son1997][quote=My Inner Child][quote=son1997]

[quote=The Truth]The biggest question for you is can you get up to the level of production
needed at Jones to be considered by one of the bigger players.   Seek the
answer to that question first. Ask the new guys how they are doing and not
the regional leaders.[/quote]

That is why I am asking how much in production assets you would need before they will look at you.  I can't ask whether or not I can get up to the level of production needed before the major firms will look at me unless I actually know how much that will be.  Someone who knows more about this please respond.  Thanks

[/quote]

Why are you even worrying about this? Go get hired and get to work. If you're worthy of working at a "large" firm, you will be hired by one.

[/quote]

Please quit posting on here if you have nothing valuable to say. I do not want to get stuck at Edward Jones. This is why I am asking.  I do not want to work there if you cannot switch over to a major firm.  Please post only if you are going to answer my original questions.  Thanks

[/quote]

Since it hasn't occurred to you, let me point something out....If you never work at EDJ, you can NEVER get "stuck" there.

sonny, the answer to your questions is yes...and 200k will get you hired at a major firm if it doesn't take more than 4 or 5 years to get there.

Thanks cowboy for an answer that I was looking for.  It is good to hear an answer to my question rather than have the guy "my inner child" saying some stupid off the wall things.  So Cowboy how do you know this?  what is your history?  Thanks

THere is no way in hell that a real firm would hire an EDJ worker with only $200,000 in “production assets.”

Children (son and Child)--

Been there, done that, got the t-shirt (which came w/a check attached).  If you are successful early on at EJ (or anywhere) you have plenty of options.  Son, that's all you need to know.  Disregard anything to the contrary.

Now, BECOMING "successful" somewhere (anywhere) is not all that easy, but that's another issue altogether.

Why would you start somewhere you don’t want to end up at? Most large firms have a training program hence you get a salary while you build the 20 million in assets you need to be able to eat. It doesn’t sound like you know this. They will pay you somewhere between 30K and 80K depending on your background, experience, former job, etc. I would start where I wanted to end up.

sonny,

I agree with bankrep1, if you want to end up somewhere save yourself a lot of trouble and try to start there. 

A few thoughts about Edward Jones: 
1) You will have a 3-year training contract that starts at $75k and decreases quarterly after the first year.  If you leave within 3 years of starting production, they will come after you to be repaid.
2) You will have a 1-year customer non-solicitation clause after you leave, no matter how long you were there.  Yes, they have been enforcing this as well.
3) Don't assume all or most of your assets will transfer.  You need to have developed good, long term relationships.
4) They assets you do transfer will not be easy to convert into fee-based assets.  You've already sold them on why paying a commission was better, and they've already paid it.  Asking them to change will look self-serving. 

Having said that, don't get hung up on the numbers.  If you are successful at one shop, the others will be interested.