Not necessary - there is an AGE broker - first year, did $720k.  A guy that I work with is a former Merrill broker and pulled in $100M + in assets his first year.  They both spent about 10-14 hours/day on the phone cold calling to bring in the biz.

Interesting how this dovetails from one of the other threads going right now...found this with a little research. See page 8 of 16 in the PDF. Explains everything.

http://www.ffa.org/media/archive/publications/mad/04/sept04m ad.pdf

If, he has any brains he won’t there much longer…

Well, no wonder.  Just goes to show why we hard working guys starting from scratch get real annoyed when someone handed this kind of office gets held up as an example to aspire to for us lowly new guys who began at 0.

I wonder who’s son, or son-in-law he is.  If we talk about him enough he might tell us.

The personality of a bowl of oatmeal, a room temperature IQ, and probably can’t tie his own shoes.  But, he’s knockin’ down $400K+ per year.  It’s good to know a GP or be connected at Jones…

[quote=BrokerRecruit]Not necessary - there is an AGE broker - first
year, did $720k.  A guy that I work with is a former Merrill
broker and pulled in $100M + in assets his first year.  They both
spent about 10-14 hours/day on the phone cold calling to bring in the
biz.[/quote]



Mad sick sh*t!

Sometimes it’s who you know not what you know…, with all the cash Jones has to kick around fom only paying 38% to IR’s you can’t blame them for not taking care of their families…can you?

Let's pause for a moment of silence in recognition of the "unsung hero"

Jones is out of control.

Ok give the little guy 120mil dollar office (245/2).  But at least shut up about it.  Jones is so out of touch they put the freakin guy on the cover of their employee newsletter so all the people that started out new in the biz from scratch can feel like real loosers.  Then they refer to him as an "unsung hero."  400 net a year aint unsung where I come from.

From the FAA article it looks like the guy that gave up the office didn't even start it from scratch.  Yet it sounds like he was a regional leader at some point.  Whatever, glad I'm out of there.

Sometimes, its not who you know. Its who knows you.

Just thought I would quickly post the article in Uptick that everyone is talking about on this thread...

Charting Our Success

May 2005 May 2004 Increase

Net Revenue Year-to-date $1.282 billion $1.219 billion 5%

Net Income Year-to-date $124.1 million $121.2 million 2%

U.S. Assets Under Care $365 billion $315 billion 16%

Total IRs 9,622 9,420 2%

U.S. Statistics

IRs 8,954 8,767 2%

Offices 8,566 8,409 2%

Customer Accounts 7.5 million 7.0 million 7%

Percentage of IRs Meeting/

Exceeding Expectations 86% 86% 0%

Canadian Statistics

IRs 558 542 3%

Offices 554 538 3%

Percentage of IRs Meeting/

Exceeding Expectations 80% 74% 8%

U.K. Statistics

IRs 110 111 – 1%

Offices 84 88 – 5%

Percentage of IRs Meeting/

Exceeding Expectations 70% 63% 11%

I n T h i s I s s u e

Build for Balance 4-5

Here We Grow Again 6

The New IR Segmentation

and Training Timeline 7

This month, we salute IR Ryan Lindemann of Van Wert, OH. Although Ryan

became an investment representative just three years ago, he has a long

history with the firm. He started investing with Edward Jones at age 13.

And when his high school economics class visited an Edward Jones office,

"Everyone, including me, wanted to be an Edward Jones broker."

This year, at the age of 26, Ryan, who has served as a field trainer,

attended his first Managing Partner’s Conference, an experience he says

that was both humbling and motivating.

We salute you, Ryan, for embodying the entrepreneurial spirit of Edward Jones!

Charting who's success...............GP's or IR's.......

How many IR's at Jones ever made 3 mil in one year?  NONE..... 

That's only for GP's........................They take all the risk, don't they?........................

" This month, we salute IR Ryan Lindemann of Van Wert, OH. Although Ryan

became an investment representative just three years ago, he has a long

history with the firm. He started investing with Edward Jones at age 13."

I was under the impression that one has to be over 18 to open a securities account?  Could that entrepreneurial spirit also include violating securities regulations or did the Marketing department "just happen" to forget a few facts?

I really didn’t know what I wanted to do as a career when I was 13 years old.  But if someone would have told me you could walk in to a turn-key business with no hard work, sacrifice, or any capital for that matter either, and start knocking down $400K per year, my little ears would have perked up.

[quote=Soothsayer]I really didn't know what I wanted to do as a career when I was 13 years old.  But if someone would have told me you could walk in to a turn-key business with no hard work, sacrifice, or any capital for that matter either, and start knocking down $400K per year, my little ears would have perked up.[/quote]

Soothsayer, you must be INDY because at Jones at 38% even with a little Bonus you might get to 45% means you have to fo $ 888,890 as an INDY IR you have netted a minimum of $ 577,780 enough  difference to pay down on the old beach house............... more proof to go INDY, if you are good enough to actually be your own boss.........not some GP's  drone.....

Then, how does someone with no experience in being a broker go from 0 to starting an independent brokerage just like that with no segway?

Avant,

The simple answer for almost all of the population is, you can't.  Almost anyone would starve without any experience and I can't imagine what indy firm would take someone with no experience anyway.  You might consider a firm with all channels like Raymond James.  You could start as an employee and ultimately go independent from there.  Once you are independent, you would have the freedom to change firms and take your clients with you if you so decided.  Just don't sign any nasty non-compete contract with anyone if you can at all avoid it.

But would it be fair to say that starting some place as bad as Edward
Jones in order to get the training and the experience for a couple of
years would be worth it before going Indy?

It wouldn’t be my choice simply because it is probably harder to move from Jones to RJ, LPL or another indy firm.  Certainly, you could get some good training at Jones, but you might have to pay for it if you leave early.  For that specific information, you’d have to ask a Jones rep.  I would consider RJ because from my understanding, you can go indy without even leaving the firm.