Snot nose always brings it up.



I think she has an sever inferiority complex.  Must be a woman thing.

I left Jones for a wirehouse 3 months ago and couldn’t be happier.

Most of the clients I wanted to transfer over did and several that

didn’t have been calling lately. With the cluster???k that happened

last week those guys have seen the light. Whill the kool aid drinking

$1500 a month tech paying brokers see it too. Who knows.

See, I am not buying it.  I also seem to remember Ellie complaining about the training from the meetings.  If she had the trails to go Indy, I have not heard of a region at Jones that would give her greif.  She was a super star at Jones hitting segment 3 in 20 or so months.

Now this is the part that I talk about my MBA, right?

[quote=Spanky]I left Jones for a wirehouse 3 months ago and couldn't be happier.
Most of the clients I wanted to transfer over did and several that
didn't have been calling lately. With the cluster????k that happened
last week those guys have seen the light. Whill the kool aid drinking
$1500 a month tech paying brokers see it too. Who knows.[/quote]

Why on earth would you leave Jones to go to a wirehouse?  Let me guess, you are the type of person that gets piercings because you like the pain.

[quote=elliemae][quote=Flox]

Could there be access to the old forum ? There was alot of good information and advice on working for Edward Jones, it would be a shame if it all went to waste.

[/quote]

Several important things that you need to know about Jones:

1) Most Important!! You will have to bring in at least $500K of NEW money each month to keep them happy.  With as many brokers as Jones is pumping into markets, that will be very tough.  You cannot do a fee based program, so the best you can hope for in trailing income is the 25 bps you get on mutual funds.

2) You don't get paid for everything you do.  Your clients reinvest their dividends--Jones charges them 2% but you get nothing.  It goes to P/L. You get into a competitive situation and want to discount a trade to get the business, it comes out of your pocket.

3) Try to use their CD's to get the old folks in the door--you can't compete.  The rates stink.  And, if you sell one, the payout is almost nothing.  However, Jones will be happy to shove a 30-yr or BBB-rated bond at you and tell you to sell it.  But according to them, you aren't really selling the bond.  You're just using it to gather financial information.  My payout last month averaged 29% and out of that, I had to pay the full cost of my insurance, my advertising, my marketing materials, and my toilet paper.  I also had to pay half my phone bill and half of my postage.

4) Their marketing strategy is something called squirrel hunting.  Ask your trainer/mentor how to find the people with money, and he/she will tell you to go squirrel hunting.  They think that you will find the money in older, well-established neighborhoods.  However, I ended up in a downtown metro area, where the older neighborhoods are full of young professionals.  They have 3 kids, 2 SUV's, and a mortgage.  The wife stays at home with the kids.  Jones told me it was a good opportunity to get 529's and rollovers.  Do you think that I would ever get $500K a month from that area?  I asked for some marketing data to help me locate real money, and they told me that instead of spending time looking at marketing info, I could just knock on a few extra doors each day.

5) The leadership is lousy.  They have none.  They have no clear direction for the business, and no one can tell you what you need to be selling.  Is it large cap's, mid, etc?  I asked one of our so-called "leaders" what he thought we should be selling, what would be the performers this year.  He said, "the great thing about Jones is you can run your business any way you want to."  He didn't have a clue.

6) The systems are archaic, and your sophisticated investors will not like doing business with Jones.  If you do a lot of stock trades, you will be tied to the office because they don't have a good system for traders.  I had no alerts or any way to easily monitor my clients' stocks.  If I wasn't in the office, the BOA had to place trades through STL, and the client gets a call back to verify the trade before it's placed.  If they can't reach the client for some reason, then you have a real problem, especially if that stock price moves a bit.  When you think of stock trades at Jones, think no good systems in place, and no payout if you discount.  That will discourage you from trying to do a stock business.  They want you to push mutual funds.  Remember: revenue sharing agreements.

6) As I think of other useful tidbits, I will pass them along.  By the way, I left Jones today, and I am going independent.  Another Jones broker may also go in with me as a partner.  It's a great place to visit but I wouldn't want to live there

The longe you are at at Jones, the more you will pobably realize that there are many btter plavces out there to be a broker.  Indy, AG EDWards, the list goes on.Jones comtinues o loose vet brokers.  That should not be a surprise.  That will not stop.    Too many brokers have let Jones in the past tweo years and can share the other side of the story.  But you will have to get use to not hearing DOug remind you thaat you are the greatest sales force in the world. 

all ex-jones people. i know jones isn’t cut out for everyone. but i don’t think it’s necessary to bash jones. they have their problems just like our great country does. but they are the best of the big firms. i have worked for them since my twenties and i’m in my forties now. i started in a metro area from scratch and i have built a profitable, ethical business, and i am very proud of the number of clients i have helped achieve their financial goals over the years. i’ve had grown men cry in my office with happiness because i helped prepare them for retirement. i’m sure some of you will make fun of this, and be rude. that is your right. just like i fought for your right to burn our flag. i guess i have to put up with disgruntled former jones employees belittling the greatest company to work for. i will continue to dance with the one who brung me (sic). hawg

hawg breath,

I don't hate the IR's I hate the leadership, they betrayed the IR's, BOA's and a great tradition, that is what I hate..........and so should you?    Read on.......pilgrim   

Every comment I have made on here has been toward the Leadership Doug "3 Mil" Hill is the worst of the bunch of greedy GP's, they live off the efforts of good IR's , just look at how much they charge you monthly for your computer system?

Many of us asked for months about the SEC investigation, and they would never tell us the TRUTH, would they?   

Then when I saw some of the IR's they were bringing into St Louis and making into GP's, it made me sick , and what finally did it was when I herd them calling these IR's Top Producers  when they got to St Louis, and IR's out in the field knew it was a LIE.......That just kinda ruined the whole Jones ethics thing for me.

When you are a Top Producer you have pride in being one, and if your FIRM decides to start calling every GP that was an IR a Top Producer, there is a ethics Problem......so I left....Jones changed, I didn't........case closed

Hawg,

You may ACTUALLY believe there is a comparison to working for Jones and serving our country....but that's your problem in itself.  Just because you belive something does not make it true.  I won't make fun of your loyalty--but just call you an idiot for not looking past what many others have seen as so blatantly obvious.

[quote=hawg]all ex-jones people. i know jones isn't cut out for everyone. but i don't think it's necessary to bash jones. they have their problems just like our great country does. but they are the best of the big firms. i have worked for them since my twenties and i'm in my forties now. i started in a metro area from scratch and i have built a profitable, ethical business, and i am very proud of the number of clients i have helped achieve their financial goals over the years. i've had grown men cry in my office with happiness because i helped prepare them for retirement. i'm sure some of you will make fun of this, and be rude. that is your right. just like i fought for your right to burn our flag. i guess i have to put up with disgruntled former jones employees belittling the greatest company to work for. i will continue to dance with the one who brung me (sic). hawg[/quote]

On what experience do you base the assertion that Jones is the best of the "big firms"?  How many "big firms" have you worked for?  What are your areas of comparison?  I would argue that if you're happy at EDJ, it's the best firm for you.  That in and of itself does not make it the best firm ever, anywhere.

He knows it’s the best firm because it says so under VI

Hawg Breath,

What are your answers.......................loser

[quote=frankstrom]

[quote=Spanky]I left Jones for a wirehouse 3 months ago and couldn't be happier.
Most of the clients I wanted to transfer over did and several that
didn't have been calling lately. With the cluster????k that happened
last week those guys have seen the light. Whill the kool aid drinking
$1500 a month tech paying brokers see it too. Who knows.[/quote]

Why on earth would you leave Jones to go to a wirehouse?  Let me guess, you are the type of person that gets piercings because you like the pain.

[/quote]

How about because you want to work with more sophisticated clients in a more professional setting with better tools?<?:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />