Rookie Survivors

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voltmoie's picture
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Interesting read, especially since all I've been told is "this is the best time to start ever" hahaI'd bet $1000 that the Jones guy inherited an office, those numbers are nuts and looking at him no chance he doorknocked his way to that AUM.http://registeredrep.com/advisorland/career/finance_rookie_survivors/

WFAt's picture
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Guy from wells has a brother in the branch who has been in business a little while. Crazy velocity on book....tells me hes taking it all up front. 11mm and gross of 233, va's and a shares.

3rdyrp2's picture
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Lol, I'd bet a hell of a lot more than that.  Sparta, Illinois?  Not sure that is in the "Wealthiest Cities in America" discussion.  Lucky bastard.  From the looks of him, he could use a little doorknocking to carve off one or two of his chins.  The first guy looks like he's in his 50's.

Ron 14's picture
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The Jones guy definitely doorknocked his way to 40mil AUM in 18months ! I bet he is now leading new FA meetings and teaching everyone "what is working for him."

bondo's picture
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I like the scarf of the Merrill guy.  That is obviously his differentiator.

Moraen's picture
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I'm willing to bet for the Jones guy 90% of his clients are not in Sparta.  Or even near it.Retired LTC.  He's fat, so likely Logistics and he's a graduate of CGSC?  Those guys get out and make bank.  He also MAY have taken over an office.  Most of my AUM has been from military contacts.  OR he took over an office, since prior to being at Jones, he was in the St. Louis area.  Likely moved where there was an open office.

inlandTX's picture
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The article is misleading. It implies all of these guys (except Grave) started New/New. NO WAY a Jones guy has 37 million in 18 months starting new/new (and I'm a Jones guy).
 

LockEDJ's picture
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If the Jones guy had several large institutions give him 401k business, he's off to the races. That can account for nearly half his AUM.
 
Otherwise, you guys are right. It's almost mathematically impossible to acquire $40MM in assets and only generate a T12 of 255K.

voltmoie's picture
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Joined: 2008-11-05

Funny watching you guys try to justify how he could rasie that much AUM ... military contacts, 401k money.    When Windy makes a claim of 1/3 of that he gets roasted.
I think they are both liars 

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B24
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Yup, no way he could bring on 375 housholds in his first two years.  I have seen vets with 25 years in and several hundred million AUM, that add maybe 150-200 new ACCOUNTS each year, but there is no way a rookie can ramp up that quick.  Assume it takes at least 3 months to ramp up (which is unrealistic anyway), you are talking 18-20 households per month.  The only way he does this (if he did) is if he was opening lots of SIMPLE's.  But usually behind every story like this is a real "story" (took over office, got a Goodknight, etc.).  It is VERY possible that he just got a big Goodknight plan.
As a sidenote, I checked the system, and his BOA (assistant) has been employed with Jones since 2000, so that tells you something right there.

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One other thing - the article never claims HE raised all that AUM.  It just says he MANAGES the money.  Big difference.  So he may have started with a Goodknight (or existing office) of 25-30mm, it dropped a bit with the market, then came back up, and he added 5-10mm along the way.  That's not unreasonable to assume.  But as someone pointed out, mathematically, his T-12 compared to his AUM smacks of a classic performance of a 10-year Jones broker with lots of stocks, bonds, and funds (hence the assumption that he inherited existing assets). 
Because if he gathered even HALF his assets last year, EVEN at only 1% average gross on the new money, that would have given him 200K gross on JUST the new assets (not including any insurance, trails, rotating mature bonds, etc.).  It simply can't be from scratch.

Ron 14's picture
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Joined: 2008-07-10

And in all fairness to Jones, this type of sh*t happens everywhere. Some joker here at Tellers R Us did 45k in his 3rd month and the regional manager was just loving on him. Sure enough, he took over a book that had 13mil in managed accounts. So the guy hardly "produced" anything. Really pisses me off. I know it shouldn't.

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3rdyrp2 wrote:Lol, I'd bet a hell of a lot more than that.  Sparta, Illinois?  Not sure that is in the "Wealthiest Cities in America" discussion.  Lucky bastard.  From the looks of him, he could use a little doorknocking to carve off one or two of his chins.  The first guy looks like he's in his 50's.
 
The difference between being an advisor in one of the wealthiest cities in America and Sparta, IL is pretty simple.  Competition.  You can't swing a dead cat in the wealthiest cities in America without hitting an FA of some kind.  The guy in Sparta is one of two EDJ folks and a small handful of other advisors.  There are billions in assets in the town and surrounding areas.  Lots of farmers.  Lot's of mom and pop businesses.  It is the PERFECT atmosphere for a Jones office to thrive.  I've thought many, many times about relocating my family to one of those small towns and starting over. 

SometimesNowhere's picture
Joined: 2008-12-22

Ron 14 wrote:And in all fairness to Jones, this type of sh*t happens everywhere. Some joker here at Tellers R Us did 45k in his 3rd month and the regional manager was just loving on him. Sure enough, he took over a book that had 13mil in managed accounts. So the guy hardly "produced" anything. Really pisses me off. I know it shouldn't.
 
Incredible! Well played Mr. 14, well played.
 
You need to change your signature, we are due for a new teller joke.

Ron 14's picture
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Joined: 2008-07-10

Funny you bring that up. I have something in the works.

Moraen's picture
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voltmoie wrote: Funny watching you guys try to justify how he could rasie that much AUM ... military contacts, 401k money.    When Windy makes a claim of 1/3 of that he gets roasted.
I think they are both liars 

There's a big difference between a twenty-something with beer buddies for contacts and a LTC who was in Logistics with contacts making $400k or more a year.

Not to mention this guy has a NICE pension. He can build his business slowly.

voltmoie's picture
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Moraen wrote: voltmoie wrote:
Funny watching you guys try to justify how he could rasie that much AUM ... military contacts, 401k money.    When Windy makes a claim of 1/3 of that he gets roasted.
I think they are both liars  There's a big difference between a twenty-something with beer buddies for contacts and a LTC who was in Logistics with contacts making $400k or more a year. Not to mention this guy has a NICE pension. He can build his business slowly.
 
He is featured because he is NOT building his business slowly.  He's a rock star.  We should all follow his lead. Someone call me with an open branch.  Thanks.

Mr.Blonde's picture
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Windy will be on that list next year

Moraen's picture
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voltmoie wrote: Moraen wrote: voltmoie wrote:
Funny watching you guys try to justify how he could rasie that much AUM ... military contacts, 401k money.    When Windy makes a claim of 1/3 of that he gets roasted.
I think they are both liars  There's a big difference between a twenty-something with beer buddies for contacts and a LTC who was in Logistics with contacts making $400k or more a year. Not to mention this guy has a NICE pension. He can build his business slowly.
 
He is featured because he is NOT building his business slowly.  He's a rock star.  We should all follow his lead. Someone call me with an open branch.  Thanks.

Oh, I agree. And now that I think about it, it's even worse and I'm wrong about his contacts. Army13A and other O's can chime in if they think I'm wrong

Fatty McFarlan was a LTC when he got out. He has likely never held Battalion Command, meaning he could not make COL. He also could not pass the PT test, so he was ostracized by other, more dedicated officers. So, he was forced into retirement (passing the PT test is required). He likely has no friends, but Jones thinks very highly of veterans (most veterans make horrible salespeople - we're very blunt), and so hired him He was allowed to look for an office that would provide a nice little cushion, so that Jones could hold him up as an example of what everybody else should be like.

My guess is if a guy like volt got an office, he would destroy Fatty and Windy alike.

voltmoie's picture
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lol ... Volt is a lazy SOB but at least he's not fat.

LockEDJ's picture
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"if you want something done quick, find a lazy guy."
Benjamin Franklin (something like that, anyway).

Incredible Hulk's picture
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Sparta had a broker with $60-70M a decade ago. He retired and the office was split. Where it went from there I have no idea, but I think we can all assume that this was not a New/New.

This is misleading from the article's perspective, but beyond that, more power to him.

My money is on the first guy.

henrybar's picture
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Joined: 2009-09-22

WFAt wrote:Guy from wells has a brother in the branch who has been in business a little while. Crazy velocity on book....tells me hes taking it all up front. 11mm and gross of 233, va's and a shares.

 
But calling 6 hrs/day is crazy(8- 50 minute session) and hard. So even if he is taking it upfront... lots of calls

Ronnie Dobbs's picture
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Moraen wrote: voltmoie wrote: Moraen wrote: voltmoie wrote:
Funny watching you guys try to justify how he could rasie that much AUM ... military contacts, 401k money.    When Windy makes a claim of 1/3 of that he gets roasted.
I think they are both liars  There's a big difference between a twenty-something with beer buddies for contacts and a LTC who was in Logistics with contacts making $400k or more a year. Not to mention this guy has a NICE pension. He can build his business slowly.
 
He is featured because he is NOT building his business slowly.  He's a rock star.  We should all follow his lead. Someone call me with an open branch.  Thanks. My guess is if a guy like volt got an office, he would destroy Fatty and Windy alike.
 
Not true. I was smokin Volt before I got an office. I was in my home for 2 months and then a legacy for 6 months. He's in the same shoes as i was and I was smokin him then.
 
Also, I don't see any reason NOT to believe the guy did it from scratch. Of course you dont, because you weren't that good. I know a guy who got an $80 M goodknight right out of the gate the same year. If they were using goodknighted accounts, wouldn't they be using him instead? Maybe he got 10 clients all with over $2M "(hell I have 3 with over that as of this month). then brought in $10-17M in 2 years. I'm not sure how its NOT possible.

voltmoie's picture
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There is the Windy we know and love.

Ronnie Dobbs's picture
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voltmoie wrote:There is the Windy we know and love.
 
It's true. If you could "smoke" me, you'd be doing it already. You are in a Legacy, you have just as much advantage as I did.

voltmoie's picture
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You having a bad day Windy? Need a hug?

Ronnie Dobbs's picture
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Incredible Hulk wrote:My money is on the first guy.
 
What a coincidence. The first guy has almost the same numbers gross/AUM as me. He must be a liar too.

Ronnie Dobbs's picture
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voltmoie wrote:You having a bad day Windy? Need a hug?
 
No man, actually a really good day. Was really productive yesterday despite the New FA meeting. Already done a crapload of business. I just found it Ironic that I get reamed for my numbers, but some dude doing about the same is alright. Because it's me, i'm a liar. What would be funny is once I hit Seg 3 in 13 months, if for some god awful reason they post me on the Uptick news........Boy what this site will look like on that day....

voltmoie's picture
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You should go back and re-read the string, I already pointed that out.  However, feel free to be an asshole if it makes you feel better.
 
.. and with respect to my "legecay" situation, as you well know it's much different from yours so when you start acting like a prick at least be truthful in your statements.  Ruins your credability otherwise.

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Ronnie Dobbs wrote:voltmoie wrote:You having a bad day Windy? Need a hug?
 
No man, actually a really good day. Was really productive yesterday despite the New FA meeting. Already done a crapload of business. I just found it Ironic that I get reamed for my numbers, but some dude doing about the same is alright. Because it's me, i'm a liar. What would be funny is once I hit Seg 3 in 13 months, if for some god awful reason they post me on the Uptick news........Boy what this site will look like on that day....

We all know who you are anyways, I think Still posted a link to your web page a couple of weeks ago

Moraen's picture
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Ronnie Dobbs wrote: Moraen wrote: voltmoie wrote: Moraen wrote: voltmoie wrote:
Funny watching you guys try to justify how he could rasie that much AUM ... military contacts, 401k money.    When Windy makes a claim of 1/3 of that he gets roasted.
I think they are both liars  There's a big difference between a twenty-something with beer buddies for contacts and a LTC who was in Logistics with contacts making $400k or more a year. Not to mention this guy has a NICE pension. He can build his business slowly.
 
He is featured because he is NOT building his business slowly.  He's a rock star.  We should all follow his lead. Someone call me with an open branch.  Thanks. My guess is if a guy like volt got an office, he would destroy Fatty and Windy alike.
 
Not true. I was smokin Volt before I got an office. I was in my home for 2 months and then a legacy for 6 months. He's in the same shoes as i was and I was smokin him then.
 
Also, I don't see any reason NOT to believe the guy did it from scratch. Of course you dont, because you weren't that good. I know a guy who got an $80 M goodknight right out of the gate the same year. If they were using goodknighted accounts, wouldn't they be using him instead? Maybe he got 10 clients all with over $2M "(hell I have 3 with over that as of this month). then brought in $10-17M in 2 years. I'm not sure how its NOT possible.

It's very easy to believe he didn't do it from scratch, especially given the fact that B24 looked up his BOA's service date, and she's been there since 2000. They used the guy because he's a military veteran. Or because when RegisteredRep called around (They do that you know), this fat a$$ answered. We know you are the man, Windy. We know you'll make Segment 5 in the minimum amount of time it takes. We know you'll be smoking Spiff, B24 and Segment5Dude before long. ytrewq should also watch out.

But just because you are, doesn't mean he is.

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Ronnie Dobbs wrote:Incredible Hulk wrote:My money is on the first guy.
 
What a coincidence. The first guy has almost the same numbers gross/AUM as me. He must be a liar too.
 
Do you ever ignore things, or let things slide?

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Oh Volt. I wasn't acting like a prick, so sorry if it came across that way. When someone discredits my work by saying, "Someone else would do better in your situation", peaves you a little. Even you would. And no, i don't know that your situation is different other than living in a smaller town. Smaller town FA's tend to do better, atleast where I am from.
 
Blonde - I'm not saying so everyone will know who I am. I'm just saying if they ever posted my picture on Uptick news....there would be 100 threads on this site.

Ronnie Dobbs's picture
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Moraen wrote: It's very easy to believe he didn't do it from scratch, especially given the fact that B24 looked up his BOA's service date, and she's been there since 2000. They used the guy because he's a military veteran. Or because when RegisteredRep called around (They do that you know), this fat a$$ answered. We know you are the man, Windy. We know you'll make Segment 5 in the minimum amount of time it takes. We know you'll be smoking Spiff, B24 and Segment5Dude before long. ytrewq should also watch out. But just because you are, doesn't mean he is.
 
I mean I understand just because someone does ok, doesn't mean someone else will. I wasn't pointing anything out for an "atta boy" towards myself. Just used numbers so say, well maybe he did start new. Thats all. I didn't know, however, that Reg Rep called FA's office to offer then free advertisement.

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voltmoie wrote: Interesting read, especially since all I've been told is "this is the best time to start ever" hahaI'd bet $1000 that the Jones guy inherited an office, those numbers are nuts and looking at him no chance he doorknocked his way to that AUM.http://registeredrep.com/advisorland/career/finance_rookie_survivors/
 
back to the original post are these guys the exceptions for making it.?
 
Wells Fargo guy- Cold calling religiously
 
EDJ guy- inherited assets(this guy would be a gp by now if he did those numbers from scratch)
 
MSSB guy- team assets so basically inherited
 
ML guy- old(so huge network) & worked at boutique office first.
 
 
So basically there are 4 ways to make it....
 
Cold Call a lot.
Inherit a book.
Join a team.
Huge network.
 
 

voltmoie's picture
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Ronnie Dobbs wrote: Oh Volt. I wasn't acting like a prick, so sorry if it came across that way. When someone discredits my work by saying, "Someone else would do better in your situation", peaves you a little. Even you would. And no, i don't know that your situation is different other than living in a smaller town. Smaller town FA's tend to do better, atleast where I am from.
 
Blonde - I'm not saying so everyone will know who I am. I'm just saying if they ever posted my picture on Uptick news....there would be 100 threads on this site.

Nah, I don't really care what people say on this site. I'd never post my real numbers so it's not a concern of mine if anyone says I suck. I only care what the people I care about think about me not screennames.

My legacy is a 20min drive from my town and with small towns it might as well be on the other side of the state. Does not matter though, it's not an excuse - I'm lazy and could do better. I'd contend your area is the best of both worlds, small town feel .. large town money. Very similar to the place I wanted to put my office before I got chained to my current location.

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henrybar wrote:voltmoie wrote: Interesting read, especially since all I've been told is "this is the best time to start ever" hahaI'd bet $1000 that the Jones guy inherited an office, those numbers are nuts and looking at him no chance he doorknocked his way to that AUM.http://registeredrep.com/advisorland/career/finance_rookie_survivors/
 
back to the original post are these guys the exceptions for making it.?
 
Wells Fargo guy- Cold calling religiously
 
EDJ guy- inherited assets(this guy would be a gp by now if he did those numbers from scratch)
 
MSSB guy- team assets so basically inherited
 
ML guy- old(so huge network) & worked at boutique office first.
 
 
So basically there are 4 ways to make it....
 
Cold Call a lot.
Inherit a book.
Join a team.
Huge network.
 
 
 
Yep.. you can add in seminar but it would go with Cold Call... or having the $$$ to do so..

voltmoie's picture
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Squash .. How much seed $$$ would you need to build your business via seminars?

Squash1's picture
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I would say $4-10K to start..

Ronnie Dobbs's picture
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voltmoie wrote: I'd contend your area is the best of both worlds, small town feel .. large town money. Very similar to the place I wanted to put my office before I got chained to my current location.
 
Agreed. Thats the only reason I get away with never wearing a tie and wearing Jeans and a Tshirt today and still doing plenty of business.

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Ronnie Dobbs wrote:voltmoie wrote: I'd contend your area is the best of both worlds, small town feel .. large town money. Very similar to the place I wanted to put my office before I got chained to my current location.
 
Agreed. Thats the only reason I get away with never wearing a tie and wearing Jeans and a Tshirt today and still doing plenty of business.
 
Please add something productive or leave..

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Ronnie Dobbs wrote:voltmoie wrote: I'd contend your area is the best of both worlds, small town feel .. large town money. Very similar to the place I wanted to put my office before I got chained to my current location.
 
Agreed. Thats the only reason I get away with never wearing a tie and wearing Jeans and a Tshirt today and still doing plenty of business.

The only way I could get away with that is if all my clients were blind

Ron 14's picture
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Windy - I don't care if you are a million dollar producer this year and you replace Weddle in 5 years, you are the most arrogant douchebag in this entire industry.

Ronnie Dobbs's picture
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Ron 14 wrote:Windy - I don't care if you are a million dollar producer this year and you replace Weddle in 5 years, you are the most arrogant douchebag in this entire industry.
 
and you give away free suckers to children.hmmmmm.....

Mr.Blonde's picture
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Windy, didn't you used to work at a car wash?

B24's picture
B24
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Windy, I'm glad you're doing well.  And I don't even doubt you're doing well.  But seriously, you are tiresome to listen to. 

voltmoie's picture
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Squash1 wrote:I would say $4-10K to start..
 
How do people on other platforms get people to seminars? 
 
I'd like to do six next year but curious how to drive attendance outside of my current prospects.

Ronnie Dobbs's picture
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Tell your prospects to bring friends or you could do trade shows. Alot of people seem to have success here with trade shows and conventions.

Squash1's picture
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Mutual fund wholesaler/VA wholesalers, but then they want a piece of the business or want to hog the time... You could also use cold calling to get people to attend but that kind of defeats the purpose.

3rdyrp2's picture
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Mr.Blonde wrote:Windy, didn't you used to work at a car wash?
 
Spiff told me he worked at Gadzooks for a period. 

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