The Jones gift

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pewter's picture
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Joined: 2009-09-13

Rank made me think of something in another post, and I did not want to get lost in the shuffle. The 150 mil + AUM jones guy is an anomalee (sp). Maybe in bufu nowhere with no other options, or ideal situation, or 25 year vet in the "right" place. NOBODY who started "door knocking" less than ten years ago is at 150 mil. unless very unique or lucky situation. Don't confuse luck with skill! And don't you dare comment about a guy with 50 mil who is competing against all other channels, with no hand me downs in an area where no one knows who the F ED jones is!

Squash1's picture
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Joined: 2008-11-19

I disagree a little.. As  a former jones guy... In my area there were 4 $100mil+ offices in the same town. Only one was hand me down and that office is at $200Mil.

rankstocks's picture
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Joined: 2005-02-10

I'm above 10 years, actually almost 15.  But I started from scratch.  Doorknocked for around 2 1/2 years in a very urban area.  Work ethic, product knowledge over time, and persistence pushed me to where I'm at now.  I agree about the over 150 million in under 10 years, virtually impossible.  But to say an EDJ broker can't hit the ball out of the park in a urban area is wrong.  I did it from scratch right out of college, and continue to do so.  Not one dollar hand-me-down.  My mentor quit when I was 2 months in the business.  I lived off of only a one year salary of 24k + commissions when I started with nothing else later.
 
Name the firm, I compete against them, and odds are they have an office within 5 miles.  I'm talking everyone, ML, 2 SB offices, MS, UBS, RBC, even tons of smaller regionals like KMS and DA Davidson.  The key is controlling what you can control, and that is contacts.  Even in my stage of the game.  I work only 6 hours a day, but manage 25-30 calls, even now.  The younger a broker starts, the ballsier they are, and the better the work ethic, the more successful they will be.

pewter's picture
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Joined: 2009-09-13

Rank-
 Not saying it has not been done, and hats of to those who did it. There are so many uncontrollable factors that determine success. That's all. I have learned to be less judgemental. 

WarRoom's picture
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Joined: 2009-10-25

pewter wrote:Rank-
 Not saying it has not been done, and hats of to those who did it. There are so many uncontrollable factors that determine success. That's all. I have learned to be less judgemental. 
 
You telling us your business sucks?  Come to the James Mr. Jones.

ytrewq's picture
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Joined: 2008-08-02

pewter wrote:Rank-
 Not saying it has not been done, and hats of to those who did it. There are so many uncontrollable factors that determine success. That's all. I have learned to be less judgemental. 

 
Says the unsuccessful person.

pewter's picture
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Joined: 2009-09-13

I don't know why I bother...but it's good debate. My biz is cranking. But i know what it takes to be substantial. I would not suggest this profession to a newbie....too damn hard. You can have all the work ethic you want, the rewards are too far and few between. The folks who have built 15 & 20 years ago should thank their lucky stars they began when they did. I started in 2000, have not had a good solid run, like those in the 80's and 90's. Very different environment today. Annuitized, compliant as heck, can't advertise the way I want. It's dis incenting in a lot of ways. OK the qualifier..I work about 10hours a day, and love every minute of it. up 30 mil net new YTD. 220 mil in assets, north mid west territory team with a niche. Though I respect the heck out of LOS 20 with 80 mill who did it on his own, yet this population is not respected. I hate the legacy asset broker who pretends to be self made, and am sick to death of the uber wealth management message from the firms. And why is there this persistent need from othe posters to ridicule and demean what they view as sub par producers. Though it's possible I am the one who has a twisted perception.

easy$$'s picture
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Joined: 2009-10-09

i doubt very much that you're up 30 mill ytd. i also doubt your team is up even half that much.

pewter's picture
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Joined: 2009-09-13

I know...it's unusual.

ytrewq's picture
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Joined: 2008-08-02

pewter wrote:
I don't know why I bother...but it's good debate. My biz is cranking. But i know what it takes to be substantial. I would not suggest this profession to a newbie....too damn hard. You can have all the work ethic you want, the rewards are too far and few between. The folks who have built 15 & 20 years ago should thank their lucky stars they began when they did. I started in 2000, have not had a good solid run, like those in the 80's and 90's. Very different environment today. Annuitized, compliant as heck, can't advertise the way I want. It's dis incenting in a lot of ways. OK the qualifier..I work about 10hours a day, and love every minute of it. up 30 mil net new YTD. 220 mil in assets, north mid west territory team with a niche. Though I respect the heck out of LOS 20 with 80 mill who did it on his own, yet this population is not respected. I hate the legacy asset broker who pretends to be self made, and am sick to death of the uber wealth management message from the firms. And why is there this persistent need from othe posters to ridicule and demean what they view as sub par producers. Though it's possible I am the one who has a twisted perception.
 
 
You can't stop can you?  Everybody had it easy but you.  Next you are going to tell us that the up $30 million was after you made up everything your "team" lost.  Tell us about winning the science fair with a project your mom did or the pinewood derby with a car your dad built.  Thank your lucky stars you are on a team.  Wannabe.  Come back and tell us about it when you have actually done it yourself.

pewter's picture
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Joined: 2009-09-13

you are missing the point, unsurprisingly....why the disbelief? Why can't one have success and know the state of the business?? I am not making a ton of money in the process...lots of cost, not indy. can see a brighter future but growing pains, and frustrations.  Come up with better questions, not drivle.....I am NOT self promoting, yet more empathetic to others...I thought I made that clear....?? Oh well, carry on!

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