How many brokers does EDJ have?

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jonesescapee's picture
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Joined: 2006-05-23

I heard 5 years ago they were headed for 25 thousand. Are they anyway near that?

spikedkoolaid's picture
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Joined: 2006-04-20

Once John Sloop took his retirement package the firm couldn't grow anymore.  They have around 200 newbies coming in every month.  They have around 200 attrition every month.  I also think they have 20-30 Segment 3,4,5's leaving every month.  That points to negative growth.  With Price Woodward now in charge of Growth I think that those numbers might improve.  I also think that if they can solidify this LP offering and not just dangle the carrot, they may see the producing brokers not leave like they are now.

Gone Indy's picture
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jonesescapee wrote:I heard 5 years ago they were headed for 25 thousand. Are they anyway near that?
Heading for 25 thousand or 25 hundred????????

jonesescapee's picture
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Joined: 2006-05-23

Is segment 5 when you get handed a 50 million dollar office?

BrokerRecruit's picture
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Joined: 2005-04-19

They're at around 9,000 or so.
25,000?  That's exactly what we need dotting the landscape.  They should just go into business with Subway and open joint offices in strip malls with a doorway in between.  That way, you can buy your footlong meatball sub and walk through the doorway to buy another share in American Funds.  Of course, that would mean going public, and that would be horrible.

Incredible Hulk's picture
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Joined: 2006-03-24

Broker recruit - LMAO - you recruiters are the biggest joke. Tell me how bad EDJ is and how bad our brokers are. Then call me tomorrow and ask me to go work for someone else. Would you tell the rest of your ambulance chasing buddies to stop calling me? For the last time, I'm not interested. And don't claim to be without alterior motives posting on this sight. I read a few minutes ago in another post you wanting a broker looking to make a jump to PM you. You have no credibility. LMAO

Indyone's picture
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Joined: 2005-05-30

Hulk, BR doesn't necessarily think you're all bad, I know for a fact that LPL brings over a lot of EDJ brokers because in the words of my recruiter, "they know how to prospect".  OTOH, I also know for a fact that my recruiter turned down one of my local competitors who called him...and the guy's been with Jones for 10+...he just wasn't a good fit for LPL, apparently.
...and it's "ulterior".  If you want to use big words, learn to spell them.

Incredible Hulk's picture
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Joined: 2006-03-24

If that's the biggest mistake I ever make, I'll be just fine. BTW, have you read any of the other posts? I think I may have the record for the fewest grammatical errors with only 1. Thanks for the spelling lesson.

Cowboy93's picture
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Joined: 2005-05-10

Indy--personally, I thought the Hulkenator's use of the word "sight" above in "...posting on this sight" was funnier that not knowing how to use the bigger word.  I believe this is a website, or "site" for short, not a websight.  I guess that's at least TWO dumb errors in one sentence, but hoos counting, write?
Hulk--the recruiters that are hounding you are not likely doing it because they think you're such a superstar; they just have to make a bunch of calls to get one hit--sound familiar, genius?  You telling BR to tell his "buddies" to stop calling you is like a prospect telling you to have all your "broker buddies" stop calling him or her.  In other words, it's really dumb (FYI BTW LMAO for emphasis, since you think those cute acronyms are so handy). 

BrokerRecruit's picture
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Joined: 2005-04-19

Here's the deal, Hulk - I actually know OldDog personally.  Great guy, known him for a while.  PM him and ask him.  No ambulance-chasing here (that's why I didn't feel the need to post my contact info, thank you).  If someone wants to talk to me, great, they can PM me.  I have never solicited another rep on here schlepping a firm I work with telling them how great it is and how poor theirs is - not how I work.  I'm consultative.  I pull people out of process with my own client instead of trying to convince them it's the best place ever and turning a quick buck.  Again, not how I work.  
I will admit that I have had many PM conversations, but they are simply consultative when asked questions or for my opinion, thoughts or advice.  That's all.
Secondly, I don't call EDJ reps anymore.  I haven't called one in nearly a year and, the only ones I call now, are the ones that I know well.  I've found that there is no point in trying to tell a story to someone that doesn't have an open mind (again, a generalized thought).  The idea of being open-minded enough to listen to other opportunities escapes most of those working for the GPs.   
And thank you, Indy.  My point all along is that not all EDJ reps are ignorant, or incompetent.  I simply think that the structure is flawed.  That's all, and those who believe it is the most perfect system out there without knowing the facts are senseless.  The thing in this business that people have to have is an open mind and know the facts.  If you're happy at Jones, F*&% an A - that's awesome.  I will never disrespect someone for that.  I will however, continue to never have respect for someone who personally attacks others, with absolutely no basis.
So again, check the facts, you American Funds schlepping tool of the GP propagandized machine, and you'll understand a little bit more about where I'm coming from and how I operate.

exEJIR's picture
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Joined: 2005-05-12

BrokerRecruit wrote:
 
So again, check the facts, you American Funds schlepping tool of the GP propagandized machine, and you'll understand a little bit more about where I'm coming from and how I operate.

That's the funniest thing I've read on here in a long time. 

BrokerRecruit's picture
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(Takes a bow)

Indyone's picture
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Joined: 2005-05-30

"Indy--personally, I thought the Hulkenator's use of the word "sight" above in "...posting on this sight" was funnier that not knowing how to use the bigger word.  I believe this is a website, or "site" for short, not a websight.  I guess that's at least TWO dumb errors in one sentence, but hoos counting, write?"
Oops and shame on me, Cowboy...I missed that one.  I guess after seeing "sight" (among others) used by many miscreants on this 4-em(), I'm a bit de-sensitized about some of the poor grammer and spelling I see here.  Occasionally, I get my fill, particularly when used in a misguided post, and spout off like I do.  I try to be extra careful with my typing when I'm responding, though...nothing like poor grammar and spelling to ruin the message...
"And thank you, Indy.  My point all along is that not all EDJ reps are ignorant, or incompetent.  I simply think that the structure is flawed."
You're welcome and I happen to agree.  I have a lot of respect for one of my local EDJ competitors, although even he is a bit blinded by the Kool-Aid.  He actually told me that if he ever left Jones, it would most likely be because he'd left the industry altogether.  At four years in, I think it's just a bit early to make such a blanket statement, but I still think he's a pretty good and ethical rep.  On structure, I think it's been made abundantly clear on this "sight" (that's for you, Cowboy) that EDJ has limited product, outdated technology, and management that is constantly brainwashing the troops (like my friend above).  No doubt, management is also "all about the benjamins."

exdrone's picture
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Joined: 2005-07-01

Someone who has one of those Doug Hill portraits should put it on ebay.  If we could bid it up high enough, Jones might include the value of picture in next years compensation survey.

Incredble Hulk's picture
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Joined: 2006-05-26

BrokerRecruit and everyone else,
Why are all picking on me now?  It's not fair.

Incredble Hulk's picture
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Joined: 2006-05-26

 
 
You guys are not nice.

Incredble Hulk's picture
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Joined: 2006-05-26

And what's wrong with American Funds?  They are AWESOME.

Incredble Hulk's picture
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Joined: 2006-05-26

 
I went out a got a Subway sandwich for dinner. MEATBALLS at that.  There is nothing wrong with a Subway, drycleaner, Chinese restaurant or any other small business owner next to a brokerage firm.  Where do you think I get my clients?  Alot easier than colding.  You guys make me sick.

iconsult100's picture
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Joined: 2005-09-06

Incredible Hulk wrote:Broker recruit - LMAO - you recruiters are the biggest joke. Tell me how bad EDJ is and how bad our brokers are. Then call me tomorrow and ask me to go work for someone else. Would you tell the rest of your ambulance chasing buddies to stop calling me? For the last time, I'm not interested. And don't claim to be without alterior motives posting on this sight. I read a few minutes ago in another post you wanting a broker looking to make a jump to PM you. You have no credibility. LMAO 
Wow.... you're making fun of a guy who is in a sales role and working hard to drum up some business so he can support his family.  How ironic. 
Jones brokers only help the Gen. Partners and their american funds wholesalers.  They're most easily compared to used car salesmen.
 

iconsult100's picture
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Joined: 2005-09-06

Incredble Hulk wrote:
I went out a got a Subway sandwich for dinner. MEATBALLS at that.  There is nothing wrong with a Subway, drycleaner, Chinese restaurant or any other small business owner next to a brokerage firm.  Where do you think I get my clients?  Alot easier than colding.  You guys make me sick.

You can have all those $10,000 accounts while us real advisors develop relationships with affluent investors.  We don't need to be in high traffic areas to build our business.... we're just a little more classy.  But Jones does have a niche.

Incredble Hulk's picture
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Joined: 2006-05-26

That's not true.  We Jones brokers help our clients with long term investments and our approved funds are the best fund families on the street.  Don't even compare me with a used care salesman.

Incredble Hulk's picture
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Joined: 2006-05-26

 $10,000 is a start.  Just wait until my client sells his Chinese restaurant or drycleaning business.  They won't be calling Merrill or Smith Barney, but me.  I see them everyday.

footsoldier's picture
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Joined: 2006-04-30

Hulk-
My man. If you are referring to American and Franklin, maybe but certainly not in all asset classes. Most I grant you but not all. Now if EDJ offered a wrap program so we could pick and choose amongst the preferreds, you might have a point. Never going to happen because the GP's will take a haircut. And their hair, by and large, is already short to begin with.

Starka's picture
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Joined: 2004-11-30

Best funds on the street??????  Putnam?  VanKampen?   Hartford?  Federated?
What street do you live on, Main Street in Fantasyland?

Incredble Hulk's picture
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Yes, you heard me.  They are the best mutual funds.  Go to www.morningstar.com and do your homework. And by the way, footsoldier, you can WRAP my A**!

iconsult100's picture
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Joined: 2005-09-06

Incredble Hulk wrote: $10,000 is a start.  Just wait until my client sells his Chinese restaurant or drycleaning business.  They won't be calling Merrill or Smith Barney, but me.  I see them everyday.
Go spend years cultivating that $250,000 relationship.  But once  you slam into 10 stocks a Hartford VA and some A shares, then what?  You'll be door knocking again and I'll be too busy collecting my 1% annual fee on from my individual clients who already have $1 million- $10 million and my institutional clients who have $10 million - $30 million. 
Jones doesn't measure up man... you're not going to convince anyone here that it does.

Incredible Hulk's picture
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Real Original - INCREDBLE HULK -

I guess there really are people out there who want to be just like me!

Incredible Hulk's picture
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Joined: 2006-03-24

iconsult100 wrote: Incredble Hulk wrote:
I went out a got a Subway sandwich for dinner. MEATBALLS at that.  There is nothing wrong with a Subway, drycleaner, Chinese restaurant or any other small business owner next to a brokerage firm.  Where do you think I get my clients?  Alot easier than colding.  You guys make me sick.

You can have all those $10,000 accounts while us real advisors develop relationships with affluent investors.  We don't need to be in high traffic areas to build our business.... we're just a little more classy.  But Jones does have a niche.

I guarantee you that you would drool over the top 20% of my book.

More classy? Gimme a break.

iconsult100's picture
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Incredible Hulk wrote: I guarantee you that you would drool over the top 20% of my book. More classy? Gimme a break.
Doubt it.

Incredible Hulk's picture
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iconsult100 wrote: Incredible Hulk wrote: I guarantee you that you would drool over the top 20% of my book. More classy? Gimme a break.
Doubt it.

You are just too busy with your seventy kabillion $10-$30 Million accts.   

Incredible Hulk's picture
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iconsult100 wrote: Incredble Hulk wrote: $10,000 is a start.  Just wait until my client sells his Chinese restaurant or drycleaning business.  They won't be calling Merrill or Smith Barney, but me.  I see them everyday.
Go spend years cultivating that $250,000 relationship.  But once  you slam into 10 stocks a Hartford VA and some A shares, then what?  You'll be door knocking again and I'll be too busy collecting my 1% annual fee on from my individual clients who already have $1 million- $10 million and my institutional clients who have $10 million - $30 million. 
Jones doesn't measure up man... you're not going to convince anyone here that it does.[/quote

I think maybe you created an alter ego for yourself i"consult" and are arguing with yourself. I can't decide if it's funny or creepy.

Incredble Hulk's picture
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Joined: 2006-05-26

And by the way, WRAP counts are a rip off.  "A" shares are the best class of funds for clients if they are investing for the long run and that's what we do at EJones.  We look after our clients.

Starka's picture
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Incredble Hulk wrote:
 
Yes, you heard me.  They are the best mutual funds.  Go to www.morningstar.com and do your homework. And by the way, footsoldier, you can WRAP my A**!

 
I checked your reference, Hulk.  None of the preferred families crack the top ten in Large Cap Value category, for example.  Not one.
Not an auspicious start for you, kid.

Incredble Hulk's picture
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Joined: 2006-05-26

That's B.S.  Look at Growth fund of America.  It has beaten the SP500 on the ytd, 3 yr and 5yr.  How can you get better that that?  It is also TEAM MANAGED!!

Starka's picture
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Incredble Hulk wrote:That's B.S.  Look at Growth fund of America.  It has beaten the SP500 on the ytd, 3 yr and 5yr.  How can you get better that that?  It is also TEAM MANAGED!!
Since when is Growth Fund of America a Large Cap Value fund?
Learn to read, kid.

footsoldier's picture
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Joined: 2006-04-30

Hulk my man-
Never the best over the long run. What happened to the montra dude drink some more you are losing it. Performance over the short term is a losers game always.
You must be a rook. No vet would be this stupid.

Tossthekoolaid's picture
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Joined: 2006-01-19

Hulk, 
You are an embarassment to those of us left at EJ. 
Toss

Devoted SA's picture
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Joined: 2006-03-28

Auggghh.
Will the REAL "HULK" please stand up?

Tossthekoolaid's picture
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Joined: 2006-01-19

Hulk is obviously a rook.

Incredble Hulk's picture
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Joined: 2006-05-26

 
I'm the Real Hulk, I'm the Real Hulk. All the other Hulks are just imitading.  So won't the Real Hulk please stand up. Please stand up.

Incredble Hulk's picture
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Joined: 2006-05-26

Come on men, footsoldier, consults dude, brokerrecruitNOT: I'm waiting on your comments.  I might wait up all night.  I'm on a roll now and I have until Tuesday because I am using my email at home. I don't have one at work so on Tuesday I will reply at night.  For now, I am staying up and waiting for your stupid responses.

troll's picture
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Joined: 2004-11-29

Incredble Hulk wrote:Come on men, footsoldier, consults dude, brokerrecruitNOT: I'm waiting on your comments.  I might wait up all night.  I'm on a roll now and I have until Tuesday because I am using my email at home. I don't have one at work so on Tuesday I will reply at night.  For now, I am staying up and waiting for your stupid responses.Still don't have email at work?  So when they do install it, will it be dial-up via AOL?

troll's picture
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Incredble Hulk wrote:That's B.S.  Look at Growth fund of America.  It has beaten the SP500 on the ytd, 3 yr and 5yr.  How can you get better that that?  It is also TEAM MANAGED!!Growth Fund of AMERICA is so bloated with new assets from retards like you that they now have 23% of the fund invested in FOREIGN stocks....which is in no small part why their numbers are so good over the last quarter and 12 months.  This would be why they are outpacing their peers who have stuck to their mandate.Then again, I wouldn't expect a feeble-minded door to door salesman like yourself to understand......

remotecontrol's picture
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Joined: 2006-04-07

joedabrkr wrote: Incredble Hulk wrote:That's B.S.  Look at Growth fund of America.  It has beaten the SP500 on the ytd, 3 yr and 5yr.  How can you get better that that?  It is also TEAM MANAGED!!Growth Fund of AMERICA is so bloated with new assets from retards like you that they now have 23% of the fund invested in FOREIGN stocks....which is in no small part why their numbers are so good over the last quarter and 12 months.  This would be why they are outpacing their peers who have stuck to their mandate.Then again, I wouldn't expect a feeble-minded door to door salesman like yourself to understand......

joedabrkr, you really are a horses' behind.  How old are you, anyway?

iconsult100's picture
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Joined: 2005-09-06

Incredble Hulk wrote:And by the way, WRAP counts are a rip off.  "A" shares are the best class of funds for clients if they are investing for the long run and that's what we do at EJones.  We look after our clients.
If Wrap accounts are so bad, why are your precious American Funds in all of them?  As well as Fidelity, Pimco, Davis, etc....  Wrap is easy, it's pay as you go and you can swap out or rebalance anytime for no cost.
If you charge your 5% up front to buy an "A" share and the client has an unexpected event a year later and needs some of that money, he just paid that load for nothing.
Get your facts straight rookie.  You won't be in business in a year.

The Truth's picture
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Joined: 2004-12-01

Brokers at Jones are a tad bit smarter than the morons in the home office.
Hulk works in the home office. He stinks of the culture they try to promote.

Hulk- when is Jones going to merge with American Funds?

Incredble Hulk's picture
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Joined: 2006-05-26

I do not work at the home office. 
inconsult100 wrote, " Wrap is easy, it's pay as you go..."
Yes indeed, easy for the broker and expensive for the client.  Come on, you are making it too easy.

Incredble Hulk's picture
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Joined: 2006-05-26

I hope American funds merges with EDJones.  Both are great companies. 

footsoldier's picture
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Joined: 2006-04-30

IH-
The most reasonable pro knows that clients have options. At Jones we have a box of goodies. All I am suggesting is they enlarge the box. Essentially what I am saying is I want the client to be guided by me, but the decision, as to how I am paid is theirs.
Ask any wholesaler and they will tell you without a doubt A shares are the most profitable for the firms. Going to wrap reduces the funds/firms revenues, yet they do it because the clients want the portability without additional costs. And remember the fees are typically deductible (above 2% of AGI I think).
Without American I probably would be out of business today. They saved me during those horrible years. I can not and will not abandon them. But I know that going forward I have to provide value and just offering AF isn't enough.
I'll make a prediction. In five years or less EDJ will have a wrap program. And if they don't watch for a blanket breakpoint schedule using the preferreds. The latter sustains the GP revenue.
 
 
 
 
 
 
 
 
 
 
 
 
 

Guest1's picture
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Joined: 2005-01-16

Foot, I disagree with you on what is most profitable for the firm. A shares short term but.. I have over 100 million in funds alone. Imagine the bump to the bottom line of not only my branch but to the firm if I had a 1% wrap on those. Granted, not all would be in a wrap program but the revenue would increase tremendously. A breakpoint among the preferreds would not nor can not happen under current regulations.
I do agree with you on the wrap coming to Jones. Only I feel it wil be much sooner than later.
I am off these boards for a while. It is nice to take breaks now and then and I am taking one. Hulk, give it a try.

jonesescapee's picture
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Joined: 2006-05-23

Incredble Hulk wrote:And by the way, WRAP counts are a rip off.  "A" shares are the best class of funds for clients if they are investing for the long run and that's what we do at EJones.  We look after our clients.
If they are such a rip off then why in hells name do 99% of high net worth people have their money in fee based accounts with ML,SB,MS,GS etc...not EDJ. I guess if all I had in my tool chest was a hammer everthing would look like a nail. Face it idiot the only reason you stand up for your 5 or 6 "A share " products is because thats all you have! The first step to recovery is admitting you have a problem. You are just not there yet. BTW does Weddle have any polyps since you have a very good veiw of his internals.

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