[quote=zacko]

Revenue sharing will never dissappear at Jones.  It is a serious conflict, but our business is full of conflicts.  Jones has always pretended to be something they are not.  In some ways, this makes them worse than your typical brokerage firm.

At Jones your true rank of importance:

1.  GP

2.  Rookie IR

3.  BOA & STL Associates

4.  IR's 2 years out and less

5.  VET IR

[/quote]

Zacko--

You left out item 1(a). : Underachieving, talentless, dipsh*t, sense of entitlement relatives of GPs

[quote=Soothsayer] [quote=zacko]

Revenue sharing will never dissappear at Jones. It is a serious conflict, but our business is full of conflicts. Jones has always pretended to be something they are not. In some ways, this makes them worse than your typical brokerage firm.

At Jones your true rank of importance:

1. GP

2. Rookie IR

3. BOA & STL Associates

4. IR’s 2 years out and less

5. VET IR

[/quote]

Zacko–

You left out item 1(a). : Underachieving, talentless, dipsh*t, sense of entitlement relatives of GPs

[quote=Incredible Hulk]
7. Crybaby quitters who didnt get an LP offer.[/quote]

When exactly was the last "bond in drag" offering completed.....5 or 6 years ago?  

Incredible Hoax:  LP offer?  lmao...I was a top producer.  It was never about the LP. 

I had 50k LP coming in the offer about the time I left--that was in 2003.  As you know, they pulled back the offer and have yet to offer one since.  The LP was not a bad deal--but it really wasn't as great as Jones hyped it to be.

RJ gives me FREE stock options (That means I don't have to pay for them--something you are unfamiliar with at Jones)...and they are up substantially.  symbol:RJF.  The options are given based upon production--so I know what I am getting in advance & not based upon some arbitrary feeling of any RL or AL.

Grow up clone--you have no idea what your talking about. 

If I were a betting person, I would give 2 to 1 odds that EDJ will not go through with the LP offering this time either. They have already made it known that the profit bogey is at least twice the number in 2003. For folks like success who haven't figured out what a calculator is , it will impact less new advisors and help only those that have been out alot longer. The propoanda will be disseminated at the regionals, because brokers will say what a steal, they didn't have to pay for it and receive income for it.

Zacko is right on again. Someday others will figure it out.

[quote=Incredible Hulk]

7. Crybaby quitters who didnt get an LP offer.[/quote]

Hulk--You left out No. 6.  So typical for a Jones guy who just doesn't pay attention to all the little things.  For the record: was offered LP in 2003 just barely 3 years from can-sell date as a new/new scratch starter with then Segment 4 numbers.  Would have been Seg 5 under new system.  So, you can save all that bullsh*t. 

What I was referring to was having a pool of new brokers in a region.  Good people with good credentials: Economics degree from private university, Ivy-league graduate (swear to God, I can't make this stuff up), military acadamy graduates, MBAs, former bank VPs, etc. etc.  People out busting their hump and hitting the benchmarks along the way.  People who took significant pay cuts to come to work for Jones.  All of a sudden a new guy who was hired from outside of the region shows up in your town.  He is a high school dropout who went back to get his GED.  He knows no one in the area, and moved to town solo after his recent second divorce (before the age of 30).  Was the assistant manager of a CarQuest store before being a Jones broker.  The $24K training salary represents a 20% raise from his last job.  Any guess who got the $15MM Goodknight?  Any guess who was the relative of a GP?  Any guess who cried endlessly about "getting screwed."  Afterall, he was promised even more.  It's too hard.  Wah, wah, wah.  I just had an expectation that assets and opportunity would be awarded based on things like merit and accomplishment, and people that I was proud to be associated with would be the first considered.  Wow, what a "culture" to be so proud of. 

Fs,

you're right, i'm stupid.  I pissed off b/c i make $250K a year, and LOVE my life.  As for the LP.  SO what if they dont give it to me.  I have to come up with 25%.  fine by me.  I do agree that the process of selecting the LP's and the amount you get is a little fuzzy, but I can live with it.  I have never met 1 guy that left jones to go independent that kept their business practices the same.  You guys stand behind, "oh its in the best interest of my clients b/c i can now offer more options."  Bottom line it always about the benjamins.  Always will be with you.  I bet you sell the L-share at protective fo some lame dick annuity with johm hancock or jackson national.. next time you sell a trad. annuity, tell your client you are getting paid 6% and see what they say.  You client would die if he know on a 500k order you were grossing 30K  cant wait to hear this response.

[quote=success]

Fs,

you're right, i'm stupid.  I pissed off b/c i make $250K a year, and LOVE my life.  As for the LP.  SO what if they dont give it to me.  I have to come up with 25%.  fine by me.  I do agree that the process of selecting the LP's and the amount you get is a little fuzzy, but I can live with it.  I have never met 1 guy that left jones to go independent that kept their business practices the same.  You guys stand behind, "oh its in the best interest of my clients b/c i can now offer more options."  Bottom line it always about the benjamins.  Always will be with you.  I bet you sell the L-share at protective fo some lame dick annuity with johm hancock or jackson national.. next time you sell a trad. annuity, tell your client you are getting paid 6% and see what they say.  You client would die if he know on a 500k order you were grossing 30K  cant wait to hear this response.

[/quote]

Success-

You write with an accent.... where you from? "YOU CLIENT" IF HE KNOW>>> or, are you just not used to using a computer?

Success - so you’re doing $750k and change in production at Jones?  Good for you - seriously.  I’ve talked to one guy who did that much and he had to have $200M AUM since he didn’t use fee-based products.

FS, twice the profit number? I think you have the reading comprehension issues that plaque many Jones IRs who post here. Re-read the information. As for if an offer comes? Who cares. I recieved a very nice check from the "pool" without putting up any money.  To use your words "if I were a betting man" I would bet you will miss the cutoff this time also.

BR, I am over both the assets and the gross you mentioned above with only 20% of it fee based. Sounds like a senior vet working 20 hours a week and living off of trails. I doubt there is a lot of transaction or new business in your example.

Success: I would disagree with you in your blanket statement that everyone changes their practices when they change firms. Many do, but attacking Zacko is barking up the wrong tree. I knew him at Jones and I see his posts here. Same pactice from what I read. Maybe he has gotten a bit more arrogant about it though!

guest1,

this wasnt meant for zacko, it was for footsoldier.  I respect most of zackos posts

as for my accent, i dont proof my posts.  and yes i can use a computer.  also, i am still waiitng for some more replies.  when was the last time you told your client the commission you get on a trad. annuity? 

[quote=success]

Fs,

you're right, i'm stupid.  I pissed off b/c i make $250K a year, and LOVE my life.  As for the LP.  SO what if they dont give it to me.  I have to come up with 25%.  fine by me.  I do agree that the process of selecting the LP's and the amount you get is a little fuzzy, but I can live with it.  I have never met 1 guy that left jones to go independent that kept their business practices the same.  You guys stand behind, "oh its in the best interest of my clients b/c i can now offer more options."  Bottom line it always about the benjamins.  Always will be with you.  I bet you sell the L-share at protective fo some lame dick annuity with johm hancock or jackson national.. next time you sell a trad. annuity, tell your client you are getting paid 6% and see what they say.  You client would die if he know on a 500k order you were grossing 30K  cant wait to hear this response.

[/quote]

Success,

The 6% we receive as indy's is the same 6% that Jones receives.  The GP's have chosen to give the IRs 4.5% and keep the remainder.  If you don't believe me ask one of your wholesalers.  Start with Lincoln.

Thanks Gone- I was just about to point out the same thing:

Success- weren't you aware that Jones juices the Insurance products a couple points in the back office BEFORE you get to see the commission? Gee, such a BIG producer as you certainly should be invited to Top Producers conferences.... that's where you learn how the 'sausage' is REALLY made... Or, you could read the NEW Revenue Sharing disclosures for Annuity Products...

success-

You are going to find this hard to believe, but I haven't left Jones. And my annuity biz is substantially less than the firm average. Once again all you can try to do is lame personal jabs. So typical.

Guest1-

It was my understanding that the bogey was going to be around 40k. Now if that isn't twice the number of 2003, I'll replace the batteries on my calculator.

FS- TWICE the PROFIT BOGEY from 2003??!!

Now that is an interesting turn of events: In July 2005 I heard a GP from STL announce in a group of about 30-35 Brokers that a) LP was to be coming out in the Spring of 2006-(okay, missed that) AND- since it had been so long since the last offering they were going to make EVERY effort to include as many people as possible-even doubling the number of Associate candidates to 'make it up to everyone'. HE said they would be LOWERING the Profit Bogey to make this happen.... pretty strange.

Guest1 has far more tenure than me so maybe he knows more.

But if I were a GP and I wanted to incent IR's from not leaving without carving too much out for new limited partners, what better way to accomplish the goal than make the bogey high enough not to include the masses in the 20-40K range. I have heard from Hill and now Weddle that they don't NEED the new influx of cash (or the new limited partners).

I hate that I have become so skeptical of my firm.

I find it comical that success and others berate reps  who don't follow their path ,  go indy or take checks from wirehouses because all they care about is the benjamin." Like they (IR's and GP's) don't.

Guest1 - the amazing thing with this guy is that he still door knocks.  Blows my mind.  I know of one guy who has $100M, but only does $350k.  He wants to go indy to increase his ROA, but says that his clients are with him because he’s with EDJ, not because he is who he is.  It’s just mind-boggling to see someone who came in new/new and has no idea why his clients are there.  He’s a complete tool. 

"Success,

The 6% we receive as indy's is the same 6% that Jones receives.  The GP's have chosen to give the IRs 4.5% and keep the remainder.  If you don't believe me ask one of your wholesalers.  Start with Lincoln."

I don't post about most of the commentary because most have their minds made up anyway, but this statement is 100% false.  I know and I can prove it one on one to anyone.  Unfortunately there are a bunch of wholesalers who quite frankly don't know the difference between what is paid to various companies.  Jones takes a lower upfront in favor of larger residuals for the IR.  Could they make 6 or more?  Sure...but they would have to trade that for lower future payments and have chosen to take the way that keeps you getting paid better in the long run.  You can go back to saying  that you think we are hypocritical or liars or that GPs make good money or whatever else the latest goofball idea on this board is, but I know this statement to be completely false.  Absolutely and without any shred of problem stating such.

Incidentally, this is true on all insurance products.   Jones doesn’t get an ‘override’ on any insurance product.  They have gotten something akin to revenue sharing, this I will agree to.  But that is passed on to the broker in the same way that RS was on Mutual Funds.  Now you can return to calling us kool-aid drinkers or what-have-you. 

[quote=success]

 I bet you sell the L-share at protective fo some lame dick annuity with johm hanDcock or jackson national.. [/quote]

  he he he