Roadhard,

Congrats on the move...It will be hard work for a month or so and then it's back to your normal routine.  Please PM me if you have any questions and would even be happy to give you my phone number and e-mail in case you want some suggestions on how to streamline this process.

What firm are you going to?

Good luck!

Roadhard,

From another retired military ex-Joneser, good luck.  Yes you will enjoy life more.  Yes, it's good to be the owner and not the employee.  As retired military, we know what it's like to be employees, not getting to make your own decisions, etc..., so becoming independent and becoming your own boss (for real) is a huge relief and a breath of fresh air.  Enjoy not letting EDJ keep so much of what you've worked for each month.  Feel free to contact me directly.

Just FYI, I would be EXTEMELY careful in how much information you disclose until you and your buddy are out of there. It is way too easy for the home office to narrow down who you are and put a crimp in your plans.

Good luck going indy.

The gestapo is always lurking.  It would be nice for one of their techies to tell us how they operate. 

Mucho is correct.  Stay stealth until you leave, then you can blast anything you want to anyone you want to.  Watch out for the hidden camera in the Jones monitor though and you know they’re always listening!!  They’re likely to do what they can to keep you, or at least to keep YOUR CLIENTS, so be careful not to fall under the GP spell.

LPL, and roger out!

Just left jones!! they hold my U4/5 for 30 days....looks like I have some down time as they do damage control.!!

why are they holding your u-whatever?

B7,

They shouldn't be holding it because they should want to wash their hands of you as soon as possible.  If you are staying in the industry, they are liable for your actions as long as they hold your U5.

I assume you left today because it's the last day of the EDJ selling month?  Good luck!!  and welcome to life after koolaid.

Go inside a little room and lock yourself in.  After 20 days come out and you will be detoxed from the Koolaid.  It will be hell for the first few days…wanting to flip someone from one fund family to another, 1035 from a good annuity to another, sell stocks with low cost basis to the client.  Hell, you’ll still be telling people, if you have the money today, I think you should buy some.  If you thought you had any buds at the devil firm, you don’t now.  WELCOME ABOARD!!

EJ can't legally hold up your U5...only the NASD or the state can do that.  Mine came over in hours, a guy I know had to wait a couple of weeks.  The guy kept going with client meetings and had them sign undated forms...Don't let EJ win...kick some a$$!!!

fact of the matter is jones does win.  the average broker takes 25% to 30% of their assets to the new firm.  seems like all the brokers going to lpl couldnt cut it at jones, and now they are sucking wind on their own dime. 

[quote=jusboughtacaddy]

fact of the matter is jones does win.  the average broker takes 25% to 30% of their assets to the new firm.  seems like all the brokers going to lpl couldnt cut it at jones, and now they are sucking wind on their own dime. 

[/quote]

You are a completely uneducated moron!  It is quite obvious you have had a little too much Kool-Aid.  I know of no fewer than 10 Jones brokers that have moved and their range of assets taken it between 70% and 95% with the average of about 85%.  Granted, this is not a scientific survey but your 25% to 30% number is just plain wacky.

Now get back to work for the GPs!

[quote=jusboughtacaddy]

fact of the matter is jones does win.  the average broker takes 25% to 30% of their assets to the new firm.  seems like all the brokers going to lpl couldnt cut it at jones, and now they are sucking wind on their own dime. 

[/quote]

By the way caddy, congratulations on becoming your Region's Recruiting Specialist. Did the last one leave?....When I was a Jonsee, ours did. It was SO funny he left the week after summer regionals.

Lets see...I've been free for 6 weeks...left 32mill, had a competing newby in two days after I left.  I have transferred(settled) 122 accts totalling 14ish million...of the 32, 3 wasn't possible to move.  So in 6weeks I transferred about 1/2 of the assets and a quarter of the accts...My goal originally was to move 15 mil by end of 07...I've moved that to 20mil...by year end.  I to was a loser at Jones.  Caddy, you suck, your firm sucks!  Good day and Good selling!

fact of the matter is jones does win.  the average broker takes 25% to 30% of their assets to the new firm.  seems like all the brokers going to lpl couldnt cut it at jones, and now they are sucking wind on their own dime. 

If Jones mostly sells "A" shares, why would the broker want to take the assets with them when they left?  It's probably not in the clients' best interest to move the money and the (lack of) compensation often makes it not worth the effort.  A change is often a great excuse for a broker to not service unprofitable clients.

Also, that is a very misleading stat even if it is accurate.  Many of the assets don't go to a new firm because the broker doesn't stay in the business.

This has nothing to do with Jones.  If a broker leaves a firm and has done a good job with his clients, he can keep the bulk of his clients that he wants to keep.  No one is doing business with a Jones broker because he works for Jones.  That can be said for the majority of cases regardless of firms.

[quote=jusboughtacaddy]

fact of the matter is jones does win.  the average broker takes 25% to 30% of their assets to the new firm.  seems like all the brokers going to lpl couldnt cut it at jones, and now they are sucking wind on their own dime. 

[/quote]

I like him, he's silly!

most brokers want to capture assets so that they can wrap them or convert to c shares.  the 25-35% capture figure is spot on.  edward jones is a partnership, and im a partner.  guess i am working for myself.  my guess is you never recieved partnership, or were profitable.  it must suck to suck.

Spelling problems aside…Partner sh*t! I’m not a partner, I’m an owner. Your not working for yourself, your working for the real owners, the GP’s.  They can boot you happy ass anytime they wish.  Your at work and drunk on koolaid.  Go home, take a nap and when you trully wake up, come see us. 

drunk off cool aid???  you must be high from huffing paint thinner...  my guess is you make 8 gross a month and were tired of being below expectations...