1st year knocking on doors

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I knock's picture
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Do the people that don't make it at Edward Jones fail because they don't actually get out and doornock their butt's off?
Others that started from scratch how did you do it?
 
I need to make a decision before I sign on the dotted line. So any positive feedback would be appreciative.
 
Yes, I know that this is a sales job.
I have been in sales before.
I am not afraid to discuss assett allocation, risk tolerance, bonds, American funds etc...
Yes I am prepared to knock on door after door after door, cold call, send out mailers, set up a monthly community meeting about who what and why.
 
I don't know any rich people so all assetts will be gathered from cold calling and knocking, is it possible?
 
 
 
 

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I knock wrote: Do the people that don't make it at Edward Jones fail because they don't actually get out and doornock their butt's off?
Others that started from scratch how did you do it?
 
I need to make a decision before I sign on the dotted line. So any positive feedback would be appreciative.
 
Yes, I know that this is a sales job.
I have been in sales before.
I am not afraid to discuss assett allocation, risk tolerance, bonds, American funds etc...
Yes I am prepared to knock on door after door after door, cold call, send out mailers, set up a monthly community meeting about who what and why.
 
I don't know any rich people so all assetts will be gathered from cold calling and knocking, is it possible?
 
 
 
 

It's hard work, but you'll be fine.

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I knock wrote:Do the people that don't make it at Edward Jones fail because they don't actually get out and doornock their butt's off?
Others that started from scratch how did you do it?
 I need to make a decision before I sign on the dotted line. So any positive feedback would be appreciative.
 Yes, I know that this is a sales job.
I have been in sales before.
I am not afraid to discuss assett allocation, risk tolerance, bonds, American funds etc...
Yes I am prepared to knock on door after door after door, cold call, send out mailers, set up a monthly community meeting about who what and why.

 I don't know any rich people so all assetts will be gathered from cold calling and knocking, is it possible?Edward Jones does not have a support staff which is dedicated to your success. You will be relying on other FAs who volunteer their time (for free). If you run into any bumps along the way (which you certainly will) you will need to rely on the support of other local FAs. Before signing on the dotted line, I strongly recommend you go out and meet all the FAs in your surrounding area. Ask them how they built their business (hint: it is probably not door-knocking). Ask which other FAs you should meet. I have found that most people who succeed at Jones either have a friend or family member in the business or they have a book of business handed to them to keep them afloat until they figure things out. There are people who succeed on their own, but they are rare. Good Luck!

buyandhold's picture
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It's very difficult. Not because it is hard work -- it's outdoors, it's active, there are worse things to do -- and not because of the rejection -- if you are fairly mature you won't care if strangers don't like you --- but because so much of it amounts to nothing. You can doorknock all week and none of those people will ever become clients. That gets discouraging. Five more.1. You have to be fairly personable, aggressive and knock on between 100 and 200 doors a day.2. You have to have a fairly simple process -- find old 401ks or orphan accounts and move them into American Funds or annuties.3. You have to qualify people in a hurry. If you meet 25 people today, don't go back to all 25 like they teach you, just go back to the three or four good ones. Spend the rest of the day finding  new people.4. Be ready financially. It is going to take years before you make real money.5. Remember that the best way to build the business is through your clients, so be very attentive to them and start asking for referals every time you talk to them.

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Still@jones wrote:
I knock wrote:Do the people that don't make it at Edward Jones fail because they don't actually get out and doornock their butt's off?
Others that started from scratch how did you do it?
 I need to make a decision before I sign on the dotted line. So any positive feedback would be appreciative.
 Yes, I know that this is a sales job.
I have been in sales before.
I am not afraid to discuss assett allocation, risk tolerance, bonds, American funds etc...
Yes I am prepared to knock on door after door after door, cold call, send out mailers, set up a monthly community meeting about who what and why.

 I don't know any rich people so all assetts will be gathered from cold calling and knocking, is it possible?Edward Jones does not have a support staff which is dedicated to your success. You will be relying on other FAs who volunteer their time (for free). If you run into any bumps along the way (which you certainly will) you will need to rely on the support of other local FAs. Before signing on the dotted line, I strongly recommend you go out and meet all the FAs in your surrounding area. Ask them how they built their business (hint: it is probably not door-knocking). Ask which other FAs you should meet. I have found that most people who succeed at Jones either have a friend or family member in the business or they have a book of business handed to them to keep them afloat until they figure things out. There are people who succeed on their own, but they are rare. Good Luck!

Please note I was fired after 15 weeks for not doing the work Jones told me to do. I was smarter than jones.

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you were fired...wow! so was I!!!Jones is a really sh*tty company, don't you think?They just churn & burn new hires.I started less than a year ago. There were 64 people in my training class; there are 24 left.

Anonymous's picture
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I can't imagine getting a very large HNW client through door knocking?!  Any insight into this?  I built my business through cold calling and then added seminars after about 10 months. 

I knock's picture
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Thanks for the feedback.
For those that were fired from Jones are you still in the business?
Did you make at least $50K your first year?

Ron 14's picture
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buyandhold wrote:It's very difficult. Not because it is hard work -- it's outdoors, it's active, there are worse things to do -- and not because of the rejection -- if you are fairly mature you won't care if strangers don't like you --- but because so much of it amounts to nothing. You can doorknock all week and none of those people will ever become clients. That gets discouraging. Five more.1. You have to be fairly personable, aggressive and knock on between 100 and 200 doors a day.2. You have to have a fairly simple process -- find old 401ks or orphan accounts and move them into American Funds or annuties.3. You have to qualify people in a hurry. If you meet 25 people today, don't go back to all 25 like they teach you, just go back to the three or four good ones. Spend the rest of the day finding  new people.4. Be ready financially. It is going to take years before you make real money.5. Remember that the best way to build the business is through your clients, so be very attentive to them and start asking for referals every time you talk to them.
 
Couldn't agree more. The local guys training me told me to call my prospects every month until they did business. The fact is you don't have time to wait 5 yrs for the guy to buy a bond. If they don't do something after 5-7 attempts you have to drop them to a mailing list only. You need to earn money now not build relationships with ghosts. That was my biggest mistake at Jones. Good luck to you, but I would grill the guys in your area about how they got their assets, how long they have been in business, and how they market themselves. Remember that you are doing the interviewing. Ask them tons of questions because Jones is selling the position to you. You need to find out your own information to see if you want to buy it.

Ron 14's picture
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Year 1 isn't the problem because Jones gives you a small salary. I made 50k my first year with the salary.

WarRoom's picture
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AGEMAN wrote: I can't imagine getting a very large HNW client through door knocking?!  Any insight into this?  I built my business through cold calling and then added seminars after about 10 months. 

I'm going to guess there are about 1000 Jones advisors with books double your size. You tell me.

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AGE training had three tracts one could take. Networking, cold calling & door knocking. One of the trainers that I have the highest respect for said door knocking had the highest percentile of success. One would think it would be the net-workers but most of them become door knockers or cold callers within a month or two as their network runs out.

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Anonymous

WarRoom wrote: AGEMAN wrote: I can't imagine getting a very large HNW client through door knocking?!  Any insight into this?  I built my business through cold calling and then added seminars after about 10 months.  I'm going to guess there are about 1000 Jones advisors with books double your size. You tell me.
Perhaps, but do they have to have 1000 clients to get there, because the average client is so small??

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AGEMAN wrote: WarRoom wrote: AGEMAN wrote: I can't imagine getting a very large HNW client through door knocking?!  Any insight into this?  I built my business through cold calling and then added seminars after about 10 months.  I'm going to guess there are about 1000 Jones advisors with books double your size. You tell me.
Perhaps, but do they have to have 1000 clients to get there, because the average client is so small??

I know one guy who got a $12 million account from door-knocking. He worked on the guy for two years. It precipitated his move to LPL, but he did get it door-knocking. He even said so after he left.

While most of the accounts received during door-knocking can be quite small, there are some large ones. I never got one.

It requires a few things to get accounts that size, just like any other method:

1) Repetition
2) Persistence
3) Building Trust
4) Luck

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Of the large accounts I got doorknocking, none of them came right away.  I have three accounts over $350K from doorknocking: First was $450K (now 350K due to some huge withdrawals) - this took several contacts after the DK, and one "let's try again" 2 months after the guy called it off.  Then he referred me to his brother (a year later), so that was not "technically" a doorknock, and I just rolled over $1.3mm from his 401K (non-hardship in-service).  I also have an $850K account from a guy that took almost 3 years to get after the initial doorknock.  In each case, I think enough time, and enough contacts had elapsed, that they sort of forgot how we originally met.  I was never a guy that DK'ed, then called with a bond a week later.  I also rarely went back to the house unless it was an appt.  Because of my style of doorknocking, I wanted people to understand that I was just out doing a little introducing, not trying to sell anything (which I wasn't).
 
However, most of my other DK accounts are under $250K.

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I think it is a great week for doorknocking....get out there B24!!!

edjgp123's picture
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Hey I knock,
 
If you want to be successful at EDJ, you must get out and doorknock.
In the beginning, you hit every house you can. After a year or two once you have a good pipeline to work with, along with what else you have built from meetings, networking, etc., you will still want to doorknock. Just then you become more selective at the houses you stop at.....fat squirrels in big trees.
I know a number of 5 yr plus guys that will stop at a house with a pick-up and a cadillac.
At Jones, plan to make 35k-75k your first year w/salary, the average is around 50k.
So will you be above avg or below, depends on how hard you work.
 
good luck

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edjgp123 wrote:Hey I knock,
 
If you want to be successful at EDJ, you must get out and doorknock.
In the beginning, you hit every house you can. After a year or two once you have a good pipeline to work with, along with what else you have built from meetings, networking, etc., you will still want to doorknock. Just then you become more selective at the houses you stop at.....fat squirrels in big trees.
I know a number of 5 yr plus guys that will stop at a house with a pick-up and a cadillac.
At Jones, plan to make 35k-75k your first year w/salary, the average is around 50k.
So will you be above avg or below, depends on how hard you work.
 
good luckThis is not true.

edjgp123's picture
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Might not be true for you Moraen....all I am saying, is if you follow the formula...It works.

Moraen's picture
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edjgp123 wrote:Might not be true for you Moraen....all I am saying, is if you follow the formula...It works.Yes it does.  I was saying that for the benefit of all the "doorknocking haters" (myself included).  Some Jones guys get in their head that if they are at Jones, they absolutely have to doorknock.I also meant to preface the statement with, "with all due respect edjgp123".

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B24
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edjgp123 wrote:Hey I knock,
 
If you want to be successful at EDJ, you must get out and doorknock.
In the beginning, you hit every house you can. After a year or two once you have a good pipeline to work with, along with what else you have built from meetings, networking, etc., you will still want to doorknock. Just then you become more selective at the houses you stop at.....fat squirrels in big trees.
I know a number of 5 yr plus guys that will stop at a house with a pick-up and a cadillac.
At Jones, plan to make 35k-75k your first year w/salary, the average is around 50k.
So will you be above avg or below, depends on how hard you work.
 
good luck
 
Very few of the really successful guys in our region doorknocked.  Although there are a few that started doorknocking in the early 90's, and did it religiously, and are now doing quite well.  But they run the 1000+ household type businesses, with an average HH of like 75-100K.  They make good money, but probably 750 of their clients get no service.  All depends on what type of business you want to run.  One guy has 1500 HH and 125K average HH.  He said he could give away 1000 households and not blink an eye on production and make his life easier, but can't find the right person to do a Goodknight with him.  He does have a GK right now, but I think the plan is only like $15mm or something.  He's tried twice before and they failed, so he's a little gunshy.
 
We have a 10 year guy near me, gave away 650 households (about $12mm, no joke) to a Goodknight, kept 250 HH (about 40mm), and now makes far more than he EVER did before.  But I can't believe the amount of time he must have wasted over the years on $10K accounts. 

I knock's picture
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Thanks for the information.

I knock's picture
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I am pumped and ready to go at it hard. My current job has a high turnover rate and I have been there for five years. I am the only person left in my class of 20.
On a second note. How do blacks fare in this industry? Some people are thinking that I should not overlook the race factor, but I don't think that that will be an issue. Despite being the only black in several of my positions throughout my career, I always achieve my goals. Can anyone chime in whether good or bad.

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After 4 years of building my business Knock, I was called into the home office.
I had a black female from Atlanta move to my market from the pass program and take over my book after many interviews.
I think it depends on the market that you are going in.
She has done very well with the old book and continued to build her own.
 

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Also, one of my classmates was a great FA. He was black and was in kansas city.
He made it for three years then got an offer from ML he couldn't refuse.
Then jumped to Morgan stanley and now I don't think he is in the business.
 
It all depends on you.

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You know what, I have found that it is less about race, and more about "appearance".  This might sound "racist" (which it is not), but if you have the "hip-hop" look and attitude going, it will hurt you, just like the Italian "guido"-bling-used car salesmen thing will hurt you, just like the fat, lazy, unkempt white-guy look will hurt you.
 
I have worked with many people of other races and cultures over the years (I primarily worked in major urban areas prior to coming to where I am now in the burbs).  Culture/race was never an issue unless you fell into the poor stereo-type of any of the races/cultures (every race and culture has their stereotypical losers).
 
I guess my point is that a well-mannered, decent looking, hard-working, fairly intelligent person of any culture or race can be successful at anything.

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B24 wrote:You know what, I have found that it is less about race, and more about "appearance".  This might sound "racist" (which it is not), but if you have the "hip-hop" look and attitude going, it will hurt you, just like the Italian "guido"-bling-used car salesmen thing will hurt you, just like the fat, lazy, unkempt white-guy look will hurt you.
 
I have worked with many people of other races and cultures over the years (I primarily worked in major urban areas prior to coming to where I am now in the burbs).  Culture/race was never an issue unless you fell into the poor stereo-type of any of the races/cultures (every race and culture has their stereotypical losers).
 
I guess my point is that a well-mannered, decent looking, hard-working, fairly intelligent person of any culture or race can be successful at anything.
 
I agree 100%.

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Joined: 2008-12-22

B24 wrote:You know what, I have found that it is less about race, and more about "appearance".  This might sound "racist" (which it is not), but if you have the "hip-hop" look and attitude going, it will hurt you, just like the Italian "guido"-bling-used car salesmen thing will hurt you, just like the fat, lazy, unkempt white-guy look will hurt you.
 
I have worked with many people of other races and cultures over the years (I primarily worked in major urban areas prior to coming to where I am now in the burbs).  Culture/race was never an issue unless you fell into the poor stereo-type of any of the races/cultures (every race and culture has their stereotypical losers).
 
I guess my point is that a well-mannered, decent looking, hard-working, fairly intelligent person of any culture or race can be successful at anything.
 
Well said, and very diplomatic. Hard point to make without being offensive.

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I totally agree with you all about dress and apperance. Which is why I believe that race does not matter it is the person on desire to keep calling and knocking for 3 years rain or shine.

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edjgp123 wrote:After 4 years of building my business Knock, I was called into the home office.
I had a black female from Atlanta move to my market from the pass program and take over my book after many interviews.
I think it depends on the market that you are going in.
She has done very well with the old book and continued to build her own.
 

 
Um...OK. 
 
So, after 4 short years of building a successful EDJ business you were invited into the home office?  The only people who get "called into the home office" and give up their successful books are now GPs.  So, unless the african american woman from Atlanta moved to Mississauga, you're blowing smoke.   
 
Are you wishful thinking with the edjgp moniker?

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Spaceman Spiff wrote:edjgp123 wrote:After 4 years of building my business Knock, I was called into the home office.
I had a black female from Atlanta move to my market from the pass program and take over my book after many interviews.
I think it depends on the market that you are going in.
She has done very well with the old book and continued to build her own.
 

 
Um...OK. 
 
So, after 4 short years of building a successful EDJ business you were invited into the home office?  The only people who get "called into the home office" and give up their successful books are now GPs.  So, unless the african american woman from Atlanta moved to Mississauga, you're blowing smoke.   
 
Are you wishful thinking with the edjgp moniker?Spiff, that's not exactly true.  I know a guy in my state that actually went to work on the Advisory Solutions program after only TWO years in the field.  He took over a $50 million office from being in the pass program.  He was young, dumb and arrogant.  But he was not brought into the home office as a GP for sure.

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I knock wrote:
I am pumped and ready to go at it hard. My current job has a high turnover rate and I have been there for five years. I am the only person left in my class of 20.
On a second note. How do blacks fare in this industry? Some people are thinking that I should not overlook the race factor, but I don't think that that will be an issue. Despite being the only black in several of my positions throughout my career, I always achieve my goals. Can anyone chime in whether good or bad.
 
When I was just out of training my manager got me in touch with a black guy that was 4 years in and kicking it big time doing seminars to HNW people. He was kind enough to share his method with me. He was the super affable type. His method works great for people that like people. As a rule I think people suck so I did my own thing.

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Mind sharing for those who don't hate people?

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Anonymous

As a rule I think people suck so I did my own thing.

So your marketing method avoids people--LOL
What was his method??

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Moraen wrote: Spaceman Spiff wrote:edjgp123 wrote:After 4 years of building my business Knock, I was called into the home office.
I had a black female from Atlanta move to my market from the pass program and take over my book after many interviews.
I think it depends on the market that you are going in.
She has done very well with the old book and continued to build her own.
 

 
Um...OK. 
 
So, after 4 short years of building a successful EDJ business you were invited into the home office?  The only people who get "called into the home office" and give up their successful books are now GPs.  So, unless the african american woman from Atlanta moved to Mississauga, you're blowing smoke.   
 
Are you wishful thinking with the edjgp moniker?Spiff, that's not exactly true.  I know a guy in my state that actually went to work on the Advisory Solutions program after only TWO years in the field.  He took over a $50 million office from being in the pass program.  He was young, dumb and arrogant.  But he was not brought into the home office as a GP for sure.
 
Not that it is really either of your business.
Yes, after 4 years of doing a fast track and building a 45 million office from scratch, I was called into the home office. That was back in 2006, I am still with the firm working my way up to GP.
Thank you.

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So, what's with the edjgp thing then?  Shouldn't it be edjgpwannabe123?  So, you voluntarity gave up a Seg 4 office, bonuses, trips, and your freedom (coming from an ex home office guy, I can say that with some credibility) for an associate position? That seems so counter intuitive from everything I've ever seen from Jones.  They typically don't request that a relatively new FA leave a productive office to come to STL and become a team leader or department leader.  Especially if they're not offering GP to sweeten the deal.  
 
My question would be why?  Why would you leave behind the benefits of an office like that?  It's a shame they don't put associate bios on the system like they do the GPs.   The GP bios are what made me doubt your story in the first place.  That and the milktoast, straight out of the KYC, Eval/Grad, PDP ATL instructors business advice that you were giving.
 
Good luck with the GP at the home office thing.  I think you'd have had a better shot from the field at the rate you were going, but that's just my $.02. 
 

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My old mentor made Seg 5 in three years.  Produced $600k+ while completing his MBA over the next two and then asked to go to the home office.  He was told no, and that he needed to be a top producer before they would ask him to come into the HO.  He ended up leaving to take a VP job at Credit Suisse.My guess is that it was a combination of personal circumstances and connections that allowed edjgp to go into the home office.

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Why the hell would someone with the ability to build from zero to 45mil in 4 years go to the Jones home office ? That sounds like the dumbest move on earth. Why wouldn't you go independent, leave the corporate BS behind, and make an absolute killing that is ALL FOR YOU ? Someone help me understand this.

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I'm stumped too.  If he brought in 45mm in 4 years, he had to have hit seg 5 along the way.  I can say, that sometimes Jones will do things for people if personal circumstances warrant it (like someone gets a divorce, has to move, ill family member, etc.), and they want to keep the person in the firm.  Jones is actually pretty good this way.  I think this guy is blowing smoke.

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He must have meant 4.5Mil in 4 years and his Dad is a GP already.

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His story may very well be what he said it is.  Except for the "I got called into the home office" stuff.  Like I said before, that part doesn't make sense and if it actually happened would be unique.   
Jones is incredibly generous with their good producers when a personal situation comes up.  They're even pretty generous with their average producers.  Because my region is in the STL area, we have folks who have just had enough of being an FA, but like Jones, move to HQ and have great careers there.  If you're working at all with FAs, it's a benefit to actually have some experience in the field.  If course you'll always get the guys like me who wonder why you would give up the benefits of the field for the corporate crap you have to deal with.  Kissing up to department leaders and GPs was never my forte.

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I will agree that Jones is incredibly generous with their good producers when personal situations come up. I will add that they are incredibly generous with even low level producers. An older gentlemen in my region had some family issues with a sick child that went on for about 8 months. He was below expectations before the incident and they kept him on and were paying him (I dont know how much, I didnt ask) until the situation had improved for him and his family.
 
Jones also extended a helping hand to my wife and I when we adopted our daughter. Giving us 5k towards the expenses.

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I agree. I talk to some guys in the field that just plain don't like being an advisor.  Some people are just made to be desk-jockeys.  Many people can't handle the rejection, the calls, the client interaction, etc.  Even if they are good  at it.
 
Personally, I don't think I would go to STL (HDQ) for any amount of money.  I've done the corporate world thing, and I will NEVER go back.  My lifestyle is more important.

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Ron 14 wrote:I will agree that Jones is incredibly generous with their good producers when personal situations come up. I will add that they are incredibly generous with even low level producers. An older gentlemen in my region had some family issues with a sick child that went on for about 8 months. He was below expectations before the incident and they kept him on and were paying him (I dont know how much, I didnt ask) until the situation had improved for him and his family.
 
Jones also extended a helping hand to my wife and I when we adopted our daughter. Giving us 5k towards the expenses.
 
That's pretty cool.  Actually, they have done the same thing in my region.  We have a guy in his 60's, been with the firm for years, produced maybe 250-300K/yr.  He came down with cancer and some ancillary ailments that kept him out almost 2 years.  They had a STL transition broker come in and the FA got 100% of the production (produced by the transition broker), or 100% of his T-12 prior to leaving, whichever was higher (plus full benefits while out).  And he was also exempt from standards.  He is back part-time, and is still exempt from production standards.  This cost Jones a lot of money (his production was about 1/2 of his T-12, so they essentially doubled his production, AND they had to pay the transition broker a salary, plus living expenses).
I have to say, this is one of the areas that Jones truly does things the right way.

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AGEMAN wrote:As a rule I think people suck so I did my own thing.

So your marketing method avoids people--LOL
What was his method??
 
Funny thing, if you hate people and try to avoid them every step you take there they are. His method was finding HNW people and guage them by the amount of equity in their home. He had some very top shelf invitations and would invite them to a white table cloth place he made a deal with. Would only have 6 couples max at any one dinner. The subject was estate planning.

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I knock wrote:
Do the people that don't make it at Edward Jones fail because they don't actually get out and doornock their butt's off?
Others that started from scratch how did you do it?
 
I need to make a decision before I sign on the dotted line. So any positive feedback would be appreciative.
 
Yes, I know that this is a sales job.
I have been in sales before.
I am not afraid to discuss assett allocation, risk tolerance, bonds, American funds etc...
Yes I am prepared to knock on door after door after door, cold call, send out mailers, set up a monthly community meeting about who what and why.
 
I don't know any rich people so all assetts will be gathered from cold calling and knocking, is it possible?
 
 
 
 

Dont listen to the know nothing jerks on this website.
 
I just think Jones is a hard road and really not worth it at the end of the day.  Just look at all of the people who leave or who are unhappy at Jones.  Plus you cannot do fee based business and that is what we all work for at the end of the day.
 
If I was just starting out, and I was as hard working as you say you are, I would look for a good bank rep job.  They make very good money and you can learn the ropes.  If you do well you can earn BIG money at at bank.
 
You do not own your book at Jones or at a bank.  You only own your book at an indy.  I am at an Indy and have been successful by the grace of God and hard hard work.  It is nearly impossible to make it and I thank God every day.
 
For someone starting out from scratch, with no wealthy friends or family, you would be best at a bank.
 
Ed Jones and some of the others will just use you as a prospector.  After you are burnt out after working your butt off and not meeting their goals--they fire you, keep your assets, and hire another.  That is how these firms work.
 
Best of luck to you.

Moraen's picture
Offline
Joined: 2009-01-22

vbrainy wrote:I knock wrote:
Do the people that don't make it at Edward Jones fail because they don't actually get out and doornock their butt's off?
Others that started from scratch how did you do it?
 
I need to make a decision before I sign on the dotted line. So any positive feedback would be appreciative.
 
Yes, I know that this is a sales job.
I have been in sales before.
I am not afraid to discuss assett allocation, risk tolerance, bonds, American funds etc...
Yes I am prepared to knock on door after door after door, cold call, send out mailers, set up a monthly community meeting about who what and why.
 
I don't know any rich people so all assetts will be gathered from cold calling and knocking, is it possible?
 
 
 
 

Dont listen to the know nothing jerks on this website.
 
I just think Jones is a hard road and really not worth it at the end of the day.  Just look at all of the people who leave or who are unhappy at Jones.  Plus you cannot do fee based business and that is what we all work for at the end of the day.
 
If I was just starting out, and I was as hard working as you say you are, I would look for a good bank rep job.  They make very good money and you can learn the ropes.  If you do well you can earn BIG money at at bank.
 
You do not own your book at Jones or at a bank.  You only own your book at an indy.  I am at an Indy and have been successful by the grace of God and hard hard work.  It is nearly impossible to make it and I thank God every day.
 
For someone starting out from scratch, with no wealthy friends or family, you would be best at a bank.
 
Ed Jones and some of the others will just use you as a prospector.  After you are burnt out after working your butt off and not meeting their goals--they fire you, keep your assets, and hire another.  That is how these firms work.
 
Best of luck to you.EJ has a fee-based platform.  Seems that people who "know nothing" should probably do some research before they make assumptions.  Yet again.

Anonymous's picture
Anonymous

Moraen wrote: vbrainy wrote:I knock wrote:
Do the people that don't make it at Edward Jones fail because they don't actually get out and doornock their butt's off?
Others that started from scratch how did you do it?
 
I need to make a decision before I sign on the dotted line. So any positive feedback would be appreciative.
 
Yes, I know that this is a sales job.
I have been in sales before.
I am not afraid to discuss assett allocation, risk tolerance, bonds, American funds etc...
Yes I am prepared to knock on door after door after door, cold call, send out mailers, set up a monthly community meeting about who what and why.
 
I don't know any rich people so all assetts will be gathered from cold calling and knocking, is it possible?
 
 
 
 

Dont listen to the know nothing jerks on this website.
 
I just think Jones is a hard road and really not worth it at the end of the day.  Just look at all of the people who leave or who are unhappy at Jones.  Plus you cannot do fee based business and that is what we all work for at the end of the day.
 
If I was just starting out, and I was as hard working as you say you are, I would look for a good bank rep job.  They make very good money and you can learn the ropes.  If you do well you can earn BIG money at at bank.
 
You do not own your book at Jones or at a bank.  You only own your book at an indy.  I am at an Indy and have been successful by the grace of God and hard hard work.  It is nearly impossible to make it and I thank God every day.
 
For someone starting out from scratch, with no wealthy friends or family, you would be best at a bank.
 
Ed Jones and some of the others will just use you as a prospector.  After you are burnt out after working your butt off and not meeting their goals--they fire you, keep your assets, and hire another.  That is how these firms work.
 
Best of luck to you.EJ has a fee-based platform.  Seems that people who "know nothing" should probably do some research before they make assumptions.  Yet again.
You call one mutual fund account and a few SMA choices a fee based platform??

Moraen's picture
Offline
Joined: 2009-01-22

AGEMAN wrote:Moraen wrote: vbrainy wrote:I knock wrote:
Do the people that don't make it at Edward Jones fail because they don't actually get out and doornock their butt's off?
Others that started from scratch how did you do it?
 
I need to make a decision before I sign on the dotted line. So any positive feedback would be appreciative.
 
Yes, I know that this is a sales job.
I have been in sales before.
I am not afraid to discuss assett allocation, risk tolerance, bonds, American funds etc...
Yes I am prepared to knock on door after door after door, cold call, send out mailers, set up a monthly community meeting about who what and why.
 
I don't know any rich people so all assetts will be gathered from cold calling and knocking, is it possible?
 
 
 
 

Dont listen to the know nothing jerks on this website.
 
I just think Jones is a hard road and really not worth it at the end of the day.  Just look at all of the people who leave or who are unhappy at Jones.  Plus you cannot do fee based business and that is what we all work for at the end of the day.
 
If I was just starting out, and I was as hard working as you say you are, I would look for a good bank rep job.  They make very good money and you can learn the ropes.  If you do well you can earn BIG money at at bank.
 
You do not own your book at Jones or at a bank.  You only own your book at an indy.  I am at an Indy and have been successful by the grace of God and hard hard work.  It is nearly impossible to make it and I thank God every day.
 
For someone starting out from scratch, with no wealthy friends or family, you would be best at a bank.
 
Ed Jones and some of the others will just use you as a prospector.  After you are burnt out after working your butt off and not meeting their goals--they fire you, keep your assets, and hire another.  That is how these firms work.
 
Best of luck to you.EJ has a fee-based platform.  Seems that people who "know nothing" should probably do some research before they make assumptions.  Yet again.
You call one mutual fund account and a few SMA choices a fee based platform??  There is only one mutual fund account?  I thought they used several different ones.  His statement was about "fee-based business".  Obviously they can.

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

Even though Jones offers a fee-based program I don't know how you can possibly start from zero and build a fee based business and still hit their numbers. That may be what vbrainy is getting at.

Moraen's picture
Offline
Joined: 2009-01-22

Ron 14 wrote:Even though Jones offers a fee-based program I don't know how you can possibly start from zero and build a fee based business and still hit their numbers. That may be what vbrainy is getting at. You have that first year salary.  If you can get $8 million in Advisory the first year (not impossible), that's $108k in production.  Not great, but better than having a cushion of $20k gross.

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