Fired from EJ - What now?

17 replies [Last post]
mofficer9's picture
Offline
Joined: 2010-10-04

New / New - 12 years sales experience, but didnt make the $ in the first 3 months with Jones. Just got the call and I'm out. I still want to be in this industry. What is the realistic expectations to be immediately hired by another firm? 

gethardgetraw's picture
Offline
Joined: 2009-10-22
Kaner's picture
Offline
Joined: 2010-06-17

I think what GHGR is saying is, "My advice to you, is start drinking heavily."

N.D.'s picture
Offline
Joined: 2009-07-13

Do what GHGR said for the rest of the day.Then get up in the morning and decided if you truly want to be a Financial Advisor. If yes then the best advice for you is to call all the local banks, credit unions and independant offices and ask to speak with the hiring manager. Tell them you would like to interview with a place that has more ties to the community. When you go into the interview, sell yourself to them. If you can't make the numbers at Jones it will be difficult anywhere else. Good luck.

BigFirepower's picture
Offline
Joined: 2010-07-09

They fired you after only 3 months of production? No offense, but surely there's more to it than that.

N.D.'s picture
Offline
Joined: 2009-07-13

I am guessing he didn't qualify for PDP which is the next hurdle. Its at 17 weeks LOS.

Spaceman Spiff's picture
Offline
Joined: 2006-08-08

To get fired after 3 months of production it means he didn't make any money to speak of.  The goal used to be $2250 net ($5625 gross) cumulative over that time frame.  I understand not making that in the first month because you're just getting your feet on the ground.  But to not make that in 3 months means you weren't doing the job you were hired to do.  The fact that they didn't cut you any breaks means that nobody stood up for you at your regional level either.  Sorry, but there aren't a lot of good reasons/excuses you can come up with that would lead me to believe you should stay in this business. 

LockEDJ's picture
Offline
Joined: 2009-07-06

If you lived near me, the chances someone else would hire you might be as high as 100%. Read the thread, what's your alternative?

LockEDJ's picture
Offline
Joined: 2009-07-06

Spaceman Spiff wrote:To get fired after 3 months of production it means he didn't make any money to speak of.  The goal used to be $2250 net ($5625 gross) cumulative over that time frame.  I understand not making that in the first month because you're just getting your feet on the ground.  But to not make that in 3 months means you weren't doing the job you were hired to do.  The fact that they didn't cut you any breaks means that nobody stood up for you at your regional level either.  Sorry, but there aren't a lot of good reasons/excuses you can come up with that would lead me to believe you should stay in this business.  Other than the fact that Edward Jones never makes a mistake about a new guy, is there any reason for you making such a collossal assumption about someone you've never met and have so little information about???

lovindaindy's picture
Offline
Joined: 2009-05-07

mofficer - I'm with Lock.  If you lived near me, I can assure you someone would hire you.

Spaceman Spiff's picture
Offline
Joined: 2006-08-08

LockEDJ wrote:Spaceman Spiff wrote:To get fired after 3 months of production it means he didn't make any money to speak of.  The goal used to be $2250 net ($5625 gross) cumulative over that time frame.  I understand not making that in the first month because you're just getting your feet on the ground.  But to not make that in 3 months means you weren't doing the job you were hired to do.  The fact that they didn't cut you any breaks means that nobody stood up for you at your regional level either.  Sorry, but there aren't a lot of good reasons/excuses you can come up with that would lead me to believe you should stay in this business.  Other than the fact that Edward Jones never makes a mistake about a new guy, is there any reason for you making such a collossal assumption about someone you've never met and have so little information about???I'd guess that I'm rather uniquely qualified on this forum to make an assumption like that.  See, I spent over 3 years in the EDJ HQ training new FAs like this guy and hearing the same old song and dance a dozen times before.  Out of hundreds of new FAs that I trained I only had maybe a dozen or so folks who didn't make it back to PDP and were consequently let go because of their performance.  Each of them had the same issue that they just simply didn't do the work.  You can't tell me, and none of them ever did, that if you were actually making 25 real contacts every day for 3 months (1500+ contacts) you can't find enough people to gross $5625.  That's three $50K rollovers going into A shares.  It always boiled down to those folks not really even trying very hard.  There was always a different reason why they weren't trying very hard, but the end result was the same.  There were a few folks who didn't hit those numbers for some reason who got a little more time, but they were folks who had someone, like their mentor or their RL speak up for them and ask for an exception to the rule.  Either that's not possible anymore, or the RL, who would have known about his termination before he did, didn't take that step.  Jones makes lots of mistakes in hiring new guys.   But at the end of the day, Jones can't control what work the new FA does, or what results he shows.  That's 100% up to the new FA.  I love how you guys are basically telling this guy that it wasn't his fault that he got fired.  That big, mean Edward Jones is to blame.  How many times on this forum have there been discussions about how low the hurdles are at EDJ vs some of the other firms?  Yet you're telling this guy that he would absolutely get hired by some other firms.  If I'm looking to hire someone, is a failed new Jones FA really the best talent  to choose?   

TheLostSoul's picture
Offline
Joined: 2006-07-20

I would think your choices at this point would be a bank, charles Schwab, fidelity, tdameritrade, an assitant to a fa

spamfilter's picture
Offline
Joined: 2010-05-22

Spaceman Spiff wrote:To get fired after 3 months of production it means he didn't make any money to speak of.  The goal used to be $2250 net ($5625 gross) cumulative over that time frame.  I understand not making that in the first month because you're just getting your feet on the ground.  But to not make that in 3 months means you weren't doing the job you were hired to do.  The fact that they didn't cut you any breaks means that nobody stood up for you at your regional level either.  Sorry, but there aren't a lot of good reasons/excuses you can come up with that would lead me to believe you should stay in this business.  I too had trouble with the PDP number.  Many of the individuals in my class only made the number because of one decent sized deal or family money.  I was not so fortunate.  At week 16 I started hustling credit cards to make my number.  At week 17 I had to fax in those credit card aps and anything else that I had pending.  Upon review by the Area Leader it was decided that I could stay.That was in 2002.  I have been asked several times since then to do the "what's working for you" speech at the regional meetings and I always like to include that story.  I completely disagree with Spiff's opinion of "this means you weren't doing the job you were hired to do".  It may have been a series of unfortunate events, it may have been bad luck and it may mean that you are not cut out for the job.   

Spaceman Spiff's picture
Offline
Joined: 2006-08-08

Credit card apps?  That's a new one.  I was still in HQ in 2002 teaching those classes and I don't know that I ever had a conversation with anyone about credit cards.  I'm not doubting your story, I just haven't heard it before.    My guess is that it's was more the stuff you had pending that kept you alive than the credit card applications.  Although, you get paid as much for opening a credit card as you do selling 10 shares of most stocks.   Funny.  But you're exactly the point I was making.  Lots of people have trouble with the PDP number.  You were able to prove to your RL, Area Leader, ATL, ATL Team Leader, and possibly a New FA Training GP or two that you had what it takes to make it, but you just had some bad luck.  I'm sure there's more to mo's story than what he wrote.  But from my history, if he got cut he wasn't even close and he didn't have anything in the pipeline to show that it's just a paperwork problem that's keeping him from hitting the bogey.  Surely someone would have gone to bat for him if it that was the case.    

LockEDJ's picture
Offline
Joined: 2009-07-06

I had one big hit before PDP. I often joke that before that one last doorknock, there were vultures circling my car.People had already told me sight unseen, that I didn't have what it takes. No one was asking about how much DK'ing I was doing, no real help from anyone. But I made that sale, it turned into several and referrals.No commentary from the RL -who, by the way, lived 350 miles away and wouldn't have known if I was doing my job anyways. He basically took it as truth from some FA that really didn't care for me. Thank goodness I worked for such a family-oriented, wholehearted place like Jones. The "someone's" don't always come to a guy's defense, Spiff. Sometimes people get a bad rap, for no particularly good reason. Maybe he didn't bow down and kiss everyone's ass, because yeah, he's been in sales for twelve friggin years. And for what it's worth ... nobody told him it wasn't his problem for losing his job. Only that he would be wanted some place else.You guys at Jones, you keep training people. We'll keep taking them away from you.

BigFirepower's picture
Offline
Joined: 2010-07-09

Very interesting comments here, entertaining and education for sure. I find it interesting, that the original poster has not come back for additional comments. Maybe he couldn't get out of bed? His name, I'm assuming that means he might have been a Mortgage Officer? Well, maybe he just jumps from hot action to hot action, and is just waiting for the next "hot career"? I got to give Spiff some kudos, he's made an ultimate response, backed it up with facts, and indeed has seen this song and dance enough times to sniff it out...

dccoinage's picture
Offline
Joined: 2010-10-06

LockEDJ, thats a dang funny statement....BECAUSE  nobody comes to Jones from any other firms...they only leave and go elsewhere....whether it be the NEW NEW or the Veteran... they go elsewhere.... seriously.... when have theY actually attracted a 500k TO A MILLION PLUS  plus producer elsewhere to come to Jones? never... THEY GO TO RAYJAY OR SMITH B, TO GET THE UP FRONT MOOLA...........So keep trianing them, get them established and then others will poach them....

LockEDJ's picture
Offline
Joined: 2009-07-06

dccoinage wrote:LockEDJ, thats a dang funny statement....BECAUSE  nobody comes to Jones from any other firms...they only leave and go elsewhere....whether it be the NEW NEW or the Veteran... they go elsewhere.... seriously.... when have theY actually attracted a 500k TO A MILLION PLUS  plus producer elsewhere to come to Jones? never... THEY GO TO RAYJAY OR SMITH B, TO GET THE UP FRONT MOOLA...........So keep trianing them, get them established and then others will poach them.... You misread the post. It was a directive last statement, implying to Spiff (who literally I believe was part of training newbies)  that he should train new fa's and we (ie everyone else) would continue to take them away.

Please or Register to post comments.

Industry Newsletters
Careers Category Sponsor Links

Sponsored Introduction Continue on to (or wait seconds) ×