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Do I HAVE to knock on doors?

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Oct 25, 2009 3:04 pm

Volt - He said it is one resource he is using to make a decision. You ask questions on here everyday to get ideas and what not.

Oct 25, 2009 3:08 pm

Lease- what you’re experiencing in the natural cynicism of this career. We see so many many many newbies that fail after being SO SURE of their opinions at first. It SHOULD NOT come back at you like this- you had a very reasonable newbie question, but unfortunately it is often hard to get answers here without the 'tude.  Just ignore it seems to work best. Good luck. I followed the Jones recipe and it worked. Call some reps and go interview THEM. Great co that is NOT for most people.

Oct 25, 2009 3:11 pm

That’s true. I think there is a bit of a difference between “how does this script sound” and what firm is right for me. We know nothing about this guy. He strengths, financial situation, family, area of the country, etc. etc. - how can we really lead him in the right direction … plus there are so many bitter idiots on here I don’t think he’ll get a straight answer.



Best thing to do is ask folks in person that work at those firms. Interview them, get the pros and cons and then go. Come back when you want to know how to run a seminar or brag about passing the 7. That’s the best feedback I can give someone.

Oct 25, 2009 3:22 pm

I don’t think he’s basing his decision on what a bunch of posters say about the firms.  Maybe he is going to ask those who work there in person, but wants to gather some questions based on what people say here.  Like if someone mentioned that if you leave EDJ to go somewhere else within the 1st year, you may be on the hook for $75,000.  He could take that info and ask a person who works there if that’s really true.  They may not have voluntarily given him that news without being asked. 

  Volt - I didn't know you were also an accomplished chef!  Your hamburger hash appears to need a little work though.   http://allrecipes.com/Cook/18375338/Profile.aspx
Oct 25, 2009 3:28 pm

Haha … not sure I’ve ever cooked anything in my life. Only other place I’ve used this name is fannation.com which has already been covered.



Pathetic you googled my name though. Nothing better to do? More proof the people on here are idiots?

Oct 25, 2009 3:39 pm
voltmoie:


Pathetic you googled my name though. Nothing better to do? More proof the people on here are idiots?

  You're right.  With 83 minutes until kickoff I literally have nothing to do until 1pm. 
Oct 25, 2009 3:40 pm

No doubt, I’m trying to get my fantasy roster set.

Oct 25, 2009 4:53 pm

[quote=LeaseNoMore]Thanks deekay & inland…  This is an odd situation I find myself in (owner of a moderately successful business forced to make a career change due to the tanking of an entire industry).

  So here I am...  with Jones, MSSB, and NYL as options.  Each has some things I like and some things I don't...   Jones- independence, ability to help the 'less than wealthy', etc., but apparently with the reputation of being minor league (I didn't really know that until I started reading this forum), pushing only certain basic products, and yes- door knocking.   MSSB- power of being the big boy in the neighborhood, bigger salary, more commercial products to offer (good for my contacts), but in an 'under the manager's thumb' environment, only looking for people with sustantial money to invest, etc   NYL- make $$ sooner selling insurance, can sell investments too, lots of flexibility, but they are focused on insurance and, I am probably wrong, but it seems that extracting ins premiums in this economy would be less likely to happen than getting somebody to let me help them fix their battered investment portfolio.  I have NOTHING against insurance salespeople, but I am having trouble projecting myself into that role.   Wherever I land, it'll be "all in"... those college tuition bills won't wait!  I'm usually very decisive, but this decision is driving me crazy.   Is it too early in the morning to start drinking?  [/quote] It's not too early to start drinking.   Don't consider NYL without checking out Northwestern Mutual, MassMutual, and Guardian.
Oct 25, 2009 5:49 pm

[quote=anonymous]It’s not too early to start drinking.   Don’t consider NYL without checking out Northwestern Mutual, MassMutual, and Guardian.[/quote]

Best advice I’ve ever heard…and those other three companies are good too…


Oct 25, 2009 7:32 pm

Thanks to all… keep those cards and letters coming.  

  And, after 3 fantasy Super Bowls, I am 1-5 so far this year.   Maybe I better visit RegisteredFantasyFootballExpert.com for some advice.   I hear there are 3 free agents available and I need some help on which one to pick up.  Their names are Edward Jones, Morgan Stanley, and some guy named N.Y. Liferman.   And... that drinking early thing was the BEST idea I've had so far today! 
Oct 25, 2009 8:09 pm

As an aside, I’ve always gotten a kick out of this notion from this forum that Edward Jones is “small time”. I can say, after the year we’ve all just been through, I am very proud to be here instead of over at Merrill Lyn… I mean, Bank of America, or over at the game of musical chairs that is A.G. Edwards --> Wachovia  —> Wells Fargo.

I know, I know. Our one-broker offices and self-restricted product lines and  the “aw, shucks” sales approach. I get it. But I didn’t choose Jones for the biggest payout or to fiddle with options trading. I chose Jones precisely because we don’t condescend when we talk to people.

This may be blasphemy on this site, but the absolute bottom line of calling my day a success isn’t always how much money I made on today’s trade. THAT’S why I chose Jones.

As for your choice of where to be in the business, I’d advise to slow WAY down and do some due diligence on a wide variety of firms. But don’t think you can hop on the Jones bandwagon for the office and the BOA but then do it all your own way. Like I said before, your training will be worthless. If you wanted to be a baker, for example, you wouldn’t go to school at a place that only teaches you how to carve steaks.

Be smart - play to your strengths and find a firm that will support your preferred business model.

Oct 25, 2009 8:16 pm

Well said Inland…  I appreciate the valuable input.

Oct 25, 2009 8:48 pm

I just accepted the EDJ offer. Looking forward to my first kool aid party. Seriously, I am in an upscale community of one of the wealthiest counties in the country (Home price averages $750K, Family income $175k+). I like the EDJ DKnock model. Think it drives home the difference between you and the guy int the cubical dialing for dollars all day. I have lived here for 20+ years and have a healthy “natural market” to help my cause. My question is how succesful is the EDJ model in such a community? Town is loaded with C level’s and entertainment people. Comments?

Oct 25, 2009 8:50 pm

The Jones model works everywhere people want to be treated authentically.

Oct 25, 2009 11:00 pm

[quote=The BEAR]I just accepted the EDJ offer. Looking forward to my first kool aid party. Seriously, I am in an upscale community of one of the wealthiest counties in the country (Home price averages $750K, Family income $175k+). I like the EDJ DKnock model. Think it drives home the difference between you and the guy int the cubical dialing for dollars all day. I have lived here for 20+ years and have a healthy “natural market” to help my cause. My question is how succesful is the EDJ model in such a community? Town is loaded with C level’s and entertainment people. Comments?[/quote]

Sounds like they put you in my town!!! Jones will work as long as you believe in what you are selling and how you are selling it…if you don’t believe in it 100%, you should go looking for a new firm.

ps: if you call face-to-face contacts “trick-or-treating” for investments, you probably should go looking for a new firm.

Oct 25, 2009 11:20 pm

The Jones Model will work if you do it. You try and out think it and you are on your own. They’ve done this for 30+ years and built a massive firm. Guessing it works.

Oct 26, 2009 2:44 am

the Knocking was fun (Sincerely enjoyed it). Was surprised how many folks opened up and were willing to chat.  Problem is that door to door soliciting is only allowed with a license. Even tho EDJ said find another area to do it, if that was the case I wasn’t getting in the car and driving almost an hour somewhere. Just curious on its efficacy in similar demograohics. I know they have failed miserabley in surrounding towns. One town they failed with a newnew and then succeeded when they grabed a guy from MS w/a book. Hope to use my “natural market” combined with the jones reciepe to succeed. I’m taking a 75% paycut to make this work. Fully committed. Only doubts I have is as a sane parent with three kids and one in college…and a mortgage.

Oct 26, 2009 11:51 am

Lease - to answer your original question. No, you don’t have to knock on doors.

Oct 26, 2009 2:58 pm
Moraen:

Lease - to answer your original question. No, you don’t have to knock on doors.

  That's not entirely true.  You will end up having to knock on doors at some point.  You'll probably have to go with your mentor, possibly your Regional Leader too.  However, beyond the initial training period, as long as you are putting numbers on the board, nobody is going to care where your leads come from.    My suggestion with Jones is to follow the doorknocking recipe and supplement it with your list of warm leads.  You were right on target with your comment before about a little bit of both.  You'll need to let  your community know that you're in business.  Of course you could run an ad in the local paper, but there's nothing like a handshake across the counter or at the front door to let people know you're there and you're serious about your business.     
Oct 26, 2009 3:12 pm
The BEAR:

I just accepted the EDJ offer. Looking forward to my first kool aid party. Seriously, I am in an upscale community of one of the wealthiest counties in the country (Home price averages $750K, Family income $175k+). I like the EDJ DKnock model. Think it drives home the difference between you and the guy int the cubical dialing for dollars all day. I have lived here for 20+ years and have a healthy “natural market” to help my cause. My question is how succesful is the EDJ model in such a community? Town is loaded with C level’s and entertainment people. Comments?

  TB, are on the West Coast or East Coast?  Based on the Entertainment comment, I assume West.  If you ARE on the East Coast, let me know, I can give you some insight.  In either case, much of it in these communities has to do with perception.  I can give you some feedback if you want to PM me.  It starts with not being the "Jones kool-aide guy".  I have very littly "Jones" crap in my office, other than the green wall and the Ted Jones picture with the horse (believe it or not, people seem to gravitate to it, and they LOVE it.).  One nice little wooden sign outside the door.  Sell YOU and your process, but not Jones (other than the private partnership aspect, conservative approach, and "service" model).  In wealthy areas, you may actually have a pretty good shot at some of the people that don't have "millions" because they are either too small for the huge wirehouse teams/"wealth management" firms, or they are getting no service at all because they are small.  But to some firms on those areas, $1mm may be a small client.  I have a colleague that works in the Greenwich area of CT.  He is absolutely KILLING it.  So it can work.