DEFECTION AT THE TOP RANKS EDWARD JONES

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Greenbacks's picture
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Why would a 5 year vet stay let alone some one with 28 years?
What took him so long?   

footsoldier's picture
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Spiked-
Because (think of Richard Nixon and the flapping gowls in an Elmer Fudd voice) EDJ may not be "THE GREATEST SALES FORCE IN THE WORLD".
 

munytalks's picture
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I just talked to RANKSTOCKS- Here's the real scoop- Rank said is a
loser. He couldn't make it and that's the reason why he is leaving.
Oh yeah and RANK got "The Lions' Share" of the assets in the office so
all is well now.
 - You know who these are now.

exdrone's picture
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Well managing an open office in Dodge City Kansas sounds like a job Doug Hill might actually be qualified to do.  Could the firm spare him from the top management position he currently fills to have him do something that is actually productive.

Devoted SA's picture
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I'll play.
Doug can't go back. He had to get the heck outta Dodge in the first place for selling those bonds that went tits up.

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munytalks wrote:
I just talked to RANKSTOCKS- Here's the real scoop- Rank said Garry Fry is a loser. He couldn't make it and that's the reason why he is leaving.
Oh yeah and RANK got "The Lions' Share" of the assets in the office so all is well now.
 - You know who these are now. Is Rank a relative of a jones GP?

Gone Indy's picture
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munytalks wrote:
I just talked to RANKSTOCKS- Here's the real scoop- Rank said Garry Fry is a loser. He couldn't make it and that's the reason why he is leaving.
Oh yeah and RANK got "The Lions' Share" of the assets in the office so all is well now.
 - You know who these are now.

Now Rank will have about 200 million under management.    Of course, the first 100 million he brought in all by himself.  Yeah right.

Soothsayer's picture
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Any truth to the rumor that some of the big guns at Jones are coming out into the field to host "workshops" for groups of IRs?  What's that all about? 

Indyone's picture
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Fascinating stuff...28 years is a lot of effort to walk away from.  I hope those
in the know keep this thread updated.  What was approximate production/
AUM?  Anyone know specifically why he made the jump that deep into his
career?

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Devoted SA wrote: I'll play.
Doug can't go back. He had to get the heck outta Dodge in the first place for selling those bonds that went tits up.

You ever sell an investment that went bad? Oh, I forgot, you can't sell anything.   

Incredible Hulk's picture
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Indyone wrote: Fascinating stuff...28 years is a lot of effort to walk away
from.  I hope those in the know keep this thread updated.  What was
approximate production/AUM?  Anyone know specifically why he made the
jump that deep into his career?

Take his book and sell it later?

Indyone's picture
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That was one thought that crossed my mind, although I'm guessing he's not hurting for money...

Revealer's picture
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No matter how long you (we) have been in business, it is still our decision who we want our override to go to. Maybe he just got tired of underwriting stupidity.

footsoldier's picture
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Or maybe he wanted to be paid for the hard work over the years building his branch to a cash machine for the firm.

Devoted SA's picture
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Incredible Hulk wrote: Devoted SA wrote:
I'll play.
Doug can't go back. He had to get the heck outta Dodge in the first place for selling those bonds that went tits up.
You ever sell an investment that went bad? Oh, I forgot, you can't sell anything.   
You've figured out my evil plan Mr. Hulk. Nothing gets by you.
No, you are correct I've not sold anything, that's gone awry. I have however taken plenty of calls from clients who've basically crawled up my *ss  with an alien anal probe on some things that have gone bad. (fortunately they were things that transferred in, not things my rep sold)
What've you sold lately that's gone bad for you? And what's that got to do with me?

spikedkoolaid's picture
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The Registered Rep Editors are at it again!  I was the one who started this topic.  They erased my post because I used the real name of an IR who left EDJ in favor of Raymond James after 28 years with EDJ in Dodge City, KS.  Doug "three Mil" Hill's old office.
I guess I should read the forum codes.

Gone Indy's picture
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spikedkoolaid wrote:
The Registered Rep Editors are at it again!  I was the one who started this topic.  They erased my post because I used the real name of an IR who left EDJ in favor of Raymond James after 28 years with EDJ in Dodge City, KS.  Doug "three Mil" Hill's old office.
I guess I should read the forum codes.

Interesting that they erased that post and yet they allowed the entire thread bashing Van Pearcy.  I don't have a personal opinion of Van but I think it sucks that his name was used in the thread

Gone Indy's picture
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Incredible Hulk wrote: Indyone wrote: Fascinating stuff...28 years is a lot of effort to walk away from.  I hope those in the know keep this thread updated.  What was approximate production/AUM?  Anyone know specifically why he made the jump that deep into his career? Take his book and sell it later?
And what is wrong with that Hulk?  After 28 years what should he do?  Maybe just leave and the son of some GP can move in and take it over?  Personally, selling my book was not an issue when I decided to leave the cult and go indy.  What is important to me is having the ability to control what happens to the book when I retire.  Hulk, one day you will wake up and smell the coffee!

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Incredible Hulk wrote: Indyone wrote: Fascinating stuff...28 years is a lot of effort to walk away from.  I hope those in the know keep this thread updated.  What was approximate production/AUM?  Anyone know specifically why he made the jump that deep into his career? Take his book and sell it later?
Typical response from an Edward Jones employee......you blinded people just can't get it! Whenever an employee leaves for whatever reason you have to say something bad about the alleged defector. Maybe, just maybe the employee does not want to listen to the BS anymore. I can remember when there was quite a few Jones employees leaving in 2004-2005 going to ML,SB,Paine Webber RJ,LPL and Wachovia and one of the company sucks from EDJ was quoted as saying "the reason they are leaving is because of greed". The greed is the reason everyone with half a brain leaves....the greed of the GP's! IH,if an independent could'nt sell their book what would be the reason for them departing? Dementia? As time passes I now realize that EDJ is not even recognized on Wall Street as a brokerage firm, it's a joke and more of a retail outlet for American funds. All of you Jones defenders are Lemmings obeying orders from clueless leaders who rode the 90's bull market and really thought they knew what they were doing. What a complete and embarrassing joke to the financial society.

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Lemmings.  I like that.
It conjurs up an image of thousands of brokers in cheap suits rushing toward the cliff.

munytalks's picture
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Gone Indy wrote:spikedkoolaid wrote:
The Registered Rep Editors are at it again!  I was the one who started this topic.  They erased my post because I used the real name of an IR who left EDJ in favor of Raymond James after 28 years with EDJ in Dodge City, KS.  Doug "three Mil" Hill's old office.
I guess I should read the forum codes.

Interesting that they erased that post and yet they allowed the entire thread bashing Van Pearcy.  I don't have a personal opinion of Van but I think it sucks that his name was used in the thread

 
If I may correct this: His name was not used 'throughout' the thread. And the intention of the story was not to 'bash' him. The Spin Doctors at Jonestown conjurred up the story of the good broker gone really bad to explain away his forced departure.  I never used his name. HOWEVER, I think he should have a real issue with the General Partners in St. Louis who tell and re-tell their version of the story- because bashing him and his reputation deflects attention from the real issue. 
And the same will go with the IR formerly known in Dodge City, KS- 28 years with the firm- wait and see what story they can spin about this one.
 

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munytalks wrote:Gone Indy wrote:spikedkoolaid wrote:
The Registered Rep Editors are at it again!  I was the one who started this topic.  They erased my post because I used the real name of an IR who left EDJ in favor of Raymond James after 28 years with EDJ in Dodge City, KS.  Doug "three Mil" Hill's old office.
I guess I should read the forum codes.

Interesting that they erased that post and yet they allowed the entire thread bashing Van Pearcy.  I don't have a personal opinion of Van but I think it sucks that his name was used in the thread

 
If I may correct this: His name was not used 'throughout' the thread. And the intention of the story was not to 'bash' him. The Spin Doctors at Jonestown conjurred up the story of the good broker gone really bad to explain away his forced departure.  I never used his name. HOWEVER, I think he should have a real issue with the General Partners in St. Louis who tell and re-tell their version of the story- because bashing him and his reputation deflects attention from the real issue. 
And the same will go with the IR formerly known in Dodge City, KS- 28 years with the firm- wait and see what story they can spin about this one.
 

I attended a seminar put on by the big dog from Midland Texas and he mentioned that he was once with Edward Jones and said it was a "fine firm". He never bashed the cult or anything that they do......he told a few people after the seminar that being fired from EDJ was the best thing that ever happened to him. For one thing he makes a hell of alot more money and he owns his company. Oh, I forgot to mention the fact that he recruits all the top producers from Jones to the indy side too. 

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jonesescapee wrote:
Incredible Hulk wrote: Indyone wrote: Fascinating stuff...28 years is a lot of effort to walk away from.  I hope those in the know keep this thread updated.  What was approximate production/AUM?  Anyone know specifically why he made the jump that deep into his career? Take his book and sell it later?
Typical response from an Edward Jones employee......you blinded people just can't get it! Whenever an employee leaves for whatever reason you have to say something bad about the alleged defector. Maybe, just maybe the employee does not want to listen to the BS anymore. I can remember when there was quite a few Jones employees leaving in 2004-2005 going to ML,SB,Paine Webber RJ,LPL and Wachovia and one of the company sucks from EDJ was quoted as saying "the reason they are leaving is because of greed". The greed is the reason everyone with half a brain leaves....the greed of the GP's! IH,if an independent could'nt sell their book what would be the reason for them departing? Dementia? As time passes I now realize that EDJ is not even recognized on Wall Street as a brokerage firm, it's a joke and more of a retail outlet for American funds. All of you Jones defenders are Lemmings obeying orders from clueless leaders who rode the 90's bull market and really thought they knew what they were doing. What a complete and embarrassing joke to the financial society.

 
How is Incredible Hulk saying he is greedy?  I read it as Indyone asking why someone so late in their career would choose to make this change. Hulk is saying maybe he wants to control his book when he decides to retire.  Isn't that one of the benefits that is usually brought up about going indy?  You sure do get your panites in a bunch if anyone from EDJ makes any comments.

exdrone's picture
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what are panites?

Maxstud's picture
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exdrone wrote:what are panites?
Its a Cuban pastry that you bunch up and eat with a strong coffe.

munytalks's picture
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Maxstud wrote:
exdrone wrote:what are panites?
Its a Cuban pastry that you bunch up and eat with a strong coffe.

Dang! I was hoping it was something that could be rolled and smoked.

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Maxstud wrote:jonesescapee wrote:
Incredible Hulk wrote: Indyone wrote: Fascinating stuff...28 years is a lot of effort to walk away from.  I hope those in the know keep this thread updated.  What was approximate production/AUM?  Anyone know specifically why he made the jump that deep into his career? Take his book and sell it later?
Typical response from an Edward Jones employee......you blinded people just can't get it! Whenever an employee leaves for whatever reason you have to say something bad about the alleged defector. Maybe, just maybe the employee does not want to listen to the BS anymore. I can remember when there was quite a few Jones employees leaving in 2004-2005 going to ML,SB,Paine Webber RJ,LPL and Wachovia and one of the company sucks from EDJ was quoted as saying "the reason they are leaving is because of greed". The greed is the reason everyone with half a brain leaves....the greed of the GP's! IH,if an independent could'nt sell their book what would be the reason for them departing? Dementia? As time passes I now realize that EDJ is not even recognized on Wall Street as a brokerage firm, it's a joke and more of a retail outlet for American funds. All of you Jones defenders are Lemmings obeying orders from clueless leaders who rode the 90's bull market and really thought they knew what they were doing. What a complete and embarrassing joke to the financial society.

 
How is Incredible Hulk saying he is greedy?  I read it as Indyone asking why someone so late in their career would choose to make this change. Hulk is saying maybe he wants to control his book when he decides to retire.  Isn't that one of the benefits that is usually brought up about going indy?  You sure do get your panites in a bunch if anyone from EDJ makes any comments.

Once again, typical response from a clueless employee.

Maxstud's picture
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jonesescapee wrote:Maxstud wrote:jonesescapee wrote:
Incredible Hulk wrote: Indyone wrote: Fascinating stuff...28 years is a lot of effort to walk away from.  I hope those in the know keep this thread updated.  What was approximate production/AUM?  Anyone know specifically why he made the jump that deep into his career? Take his book and sell it later?
Typical response from an Edward Jones employee......you blinded people just can't get it! Whenever an employee leaves for whatever reason you have to say something bad about the alleged defector. Maybe, just maybe the employee does not want to listen to the BS anymore. I can remember when there was quite a few Jones employees leaving in 2004-2005 going to ML,SB,Paine Webber RJ,LPL and Wachovia and one of the company sucks from EDJ was quoted as saying "the reason they are leaving is because of greed". The greed is the reason everyone with half a brain leaves....the greed of the GP's! IH,if an independent could'nt sell their book what would be the reason for them departing? Dementia? As time passes I now realize that EDJ is not even recognized on Wall Street as a brokerage firm, it's a joke and more of a retail outlet for American funds. All of you Jones defenders are Lemmings obeying orders from clueless leaders who rode the 90's bull market and really thought they knew what they were doing. What a complete and embarrassing joke to the financial society.

 
How is Incredible Hulk saying he is greedy?  I read it as Indyone asking why someone so late in their career would choose to make this change. Hulk is saying maybe he wants to control his book when he decides to retire.  Isn't that one of the benefits that is usually brought up about going indy?  You sure do get your panites in a bunch if anyone from EDJ makes any comments.

Once again, typical response from a clueless employee.

Once again, a pointless insult to a reasonable question.

Incredible Hulk's picture
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Gone Indy wrote: Incredible Hulk wrote: Indyone wrote: Fascinating stuff...28 years is a lot of effort to walk away from.  I hope those in the know keep this thread updated.  What was approximate production/AUM?  Anyone know specifically why he made the jump that deep into his career? Take his book and sell it later?
And what is wrong with that Hulk?  Nothing.After 28 years what should he do? Take advantage of his LTC policy? Maybe just leave and the son of some GP can move in and take it over?  That GP's son will be mine.

Personally, selling my book was not an issue when I decided to leave the cult and go indy. So What is important to me is having the ability to control what happens to the book when I retire. $2Million isn't much to worry about Hulk, one day you will wake up and smell the coffee!I'm still too young to like coffee!

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Maxstud wrote: jonesescapee wrote:Maxstud wrote:jonesescapee wrote:
Incredible Hulk wrote: Indyone wrote: Fascinating stuff...28 years is a lot of effort to walk away from.  I hope those in the know keep this thread updated.  What was approximate production/AUM?  Anyone know specifically why he made the jump that deep into his career? Take his book and sell it later?
Typical response from an Edward Jones employee......you blinded people just can't get it! Whenever an employee leaves for whatever reason you have to say something bad about the alleged defector. Maybe, just maybe the employee does not want to listen to the BS anymore. I can remember when there was quite a few Jones employees leaving in 2004-2005 going to ML,SB,Paine Webber RJ,LPL and Wachovia and one of the company sucks from EDJ was quoted as saying "the reason they are leaving is because of greed". The greed is the reason everyone with half a brain leaves....the greed of the GP's! IH,if an independent could'nt sell their book what would be the reason for them departing? Dementia? As time passes I now realize that EDJ is not even recognized on Wall Street as a brokerage firm, it's a joke and more of a retail outlet for American funds. All of you Jones defenders are Lemmings obeying orders from clueless leaders who rode the 90's bull market and really thought they knew what they were doing. What a complete and embarrassing joke to the financial society.

 
How is Incredible Hulk saying he is greedy?  I read it as Indyone asking why someone so late in their career would choose to make this change. Hulk is saying maybe he wants to control his book when he decides to retire.  Isn't that one of the benefits that is usually brought up about going indy?  You sure do get your panites in a bunch if anyone from EDJ makes any comments.

Once again, typical response from a clueless employee.

Once again, a pointless insult to a reasonable question.

For the record, I don't think someone going independent to eventually sell their book makes that person greedy.

Gone Indy's picture
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Incredible Hulk wrote: Gone Indy wrote:
Incredible Hulk wrote: Indyone wrote: Fascinating stuff...28 years is a lot of effort to walk away from.  I hope those in the know keep this thread updated.  What was approximate production/AUM?  Anyone know specifically why he made the jump that deep into his career? Take his book and sell it later?
And what is wrong with that Hulk?  Nothing.After 28 years what should he do? Take advantage of his LTC policy? Maybe just leave and the son of some GP can move in and take it over?  That GP's son will be mine. Personally, selling my book was not an issue when I decided to leave the cult and go indy. So What is important to me is having the ability to control what happens to the book when I retire. $2Million isn't much to worry about Hulk, one day you will wake up and smell the coffee!I'm still too young to like coffee!

I am not sure that I understood any of that. 

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Incredible Hulk wrote: Maxstud wrote: jonesescapee wrote:Maxstud wrote:jonesescapee wrote:
Incredible Hulk wrote: Indyone wrote: Fascinating stuff...28 years is a lot of effort to walk away from.  I hope those in the know keep this thread updated.  What was approximate production/AUM?  Anyone know specifically why he made the jump that deep into his career? Take his book and sell it later?
Typical response from an Edward Jones employee......you blinded people just can't get it! Whenever an employee leaves for whatever reason you have to say something bad about the alleged defector. Maybe, just maybe the employee does not want to listen to the BS anymore. I can remember when there was quite a few Jones employees leaving in 2004-2005 going to ML,SB,Paine Webber RJ,LPL and Wachovia and one of the company sucks from EDJ was quoted as saying "the reason they are leaving is because of greed". The greed is the reason everyone with half a brain leaves....the greed of the GP's! IH,if an independent could'nt sell their book what would be the reason for them departing? Dementia? As time passes I now realize that EDJ is not even recognized on Wall Street as a brokerage firm, it's a joke and more of a retail outlet for American funds. All of you Jones defenders are Lemmings obeying orders from clueless leaders who rode the 90's bull market and really thought they knew what they were doing. What a complete and embarrassing joke to the financial society.

 
How is Incredible Hulk saying he is greedy?  I read it as Indyone asking why someone so late in their career would choose to make this change. Hulk is saying maybe he wants to control his book when he decides to retire.  Isn't that one of the benefits that is usually brought up about going indy?  You sure do get your panites in a bunch if anyone from EDJ makes any comments.

Once again, typical response from a clueless employee.

Once again, a pointless insult to a reasonable question. For the record, I don't think someone going independent to eventually sell their book makes that person greedy. So, if one of the best car mechanics in town were to leave the dealership to open up his own shop, he did this because he was "greedy"? How about the fact that he wanted to be the boss, set his own rates and one day sell his biz to one of his employees or who ever the H he wanted to. I don't get it when people say this is wrong. (BTW, I am not an independent.) 

Maxstud's picture
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Revealer wrote:Incredible Hulk wrote: Maxstud wrote: jonesescapee wrote:Maxstud wrote:jonesescapee wrote:
Incredible Hulk wrote: Indyone wrote: Fascinating stuff...28 years is a lot of effort to walk away from.  I hope those in the know keep this thread updated.  What was approximate production/AUM?  Anyone know specifically why he made the jump that deep into his career? Take his book and sell it later?
Typical response from an Edward Jones employee......you blinded people just can't get it! Whenever an employee leaves for whatever reason you have to say something bad about the alleged defector. Maybe, just maybe the employee does not want to listen to the BS anymore. I can remember when there was quite a few Jones employees leaving in 2004-2005 going to ML,SB,Paine Webber RJ,LPL and Wachovia and one of the company sucks from EDJ was quoted as saying "the reason they are leaving is because of greed". The greed is the reason everyone with half a brain leaves....the greed of the GP's! IH,if an independent could'nt sell their book what would be the reason for them departing? Dementia? As time passes I now realize that EDJ is not even recognized on Wall Street as a brokerage firm, it's a joke and more of a retail outlet for American funds. All of you Jones defenders are Lemmings obeying orders from clueless leaders who rode the 90's bull market and really thought they knew what they were doing. What a complete and embarrassing joke to the financial society.

 
How is Incredible Hulk saying he is greedy?  I read it as Indyone asking why someone so late in their career would choose to make this change. Hulk is saying maybe he wants to control his book when he decides to retire.  Isn't that one of the benefits that is usually brought up about going indy?  You sure do get your panites in a bunch if anyone from EDJ makes any comments.

Once again, typical response from a clueless employee.

Once again, a pointless insult to a reasonable question.
For the record, I don't think someone going independent to eventually sell their book makes that person greedy. So, if one of the best car mechanics in town were to leave the dealership to open up his own shop, he did this because he was "greedy"? How about the fact that he wanted to be the boss, set his own rates and one day sell his biz to one of his employees or who ever the H he wanted to. I don't get it when people say this is wrong. (BTW, I am not an independent.) 
I dont think anyone in this thread said it was wrong.

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I dont think anyone in this thread said it was wrong.
 
And it looks so nice and organized with all the straight lines.  Sort of like a row of dominoes on the gym floor.

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bump...does anyone know more about what went down here?

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