Is there a basic equation for calculation commission off these offices? For ex, how much money is a FA making that managing $10mm in assets? what about 100mm? Not with the company, just curious.

Is there a basic equation for calculation commission off these offices? For ex, how much money is a FA making that managing $10mm in assets? what about 100mm? Not with the company, just curious.

HA!

Please don’t take this as a knock on the EJ crowd, but I’m a bit curious as to how this model at your firm works. It seems that new brokers have stories of being given “offices,” and I would assume this means running an EJ office location rather than just occupying an office space within a larger complex.



Is this typical? It seems very difficult to me (I’m with ML), to be running an entire office with only a few million in AUM. I know at ML, you need $15 mm just to graduate from POA, and even then you’re at the very bottom of the pecking order. You don’t even get out of “Cubicle Land” until you’re managing 40-50 mm AUM.



However, I can grasp the concept to some degree. There is an EJ location near my home that seems as if only a few people work there (small place). Again, seems like a good gig, actually. I was just wondering whether someone could fill me in on the EJ business model.



Thanks

Jones offices are stand alone.  Usually one broker and one BOA.  The firm takes a huge hit on paying for the space and the assistant.  new offices are often opened with very little AUM. 

Not sure what constitutes “crappy gig”. If you can produce, it’s a pretty sweet gig. If you can’t produce, nothing’s a sweet gig.

A brand new FA may have to start from home rather than a cube. Then, instead of a cubicle, you get your own single-broker office. You generally have to hit certain goals to get one, but it seems that isn't always the case. If there's an open office (due to firing or quitting or whatever) they'll try to fill it, sometimes with a new FA. If there isn't one available, then you start looking around your 'hood for a good spot to put one. They do spend a lot to open all of these single broker offices, so they hold you accountable for P&L of course.

Ok, when I left Jones I was producing over 200k, I had only been there for three years.  So I didn’t leave because of production. 

Nobody ever accused you of being a poor producer....just a whiner. You could've left as a Seg 5 and you'd still be a whiner in my book. Everybody appreciates your opinion as it pertains to the EJ business model. My contention still stands that "most Jones reps wouldn't have it any other way." You just ain't "most". Doesn't mean you can't produce, or that you didn't do the work, or didn't prospect enough, or whatever...just that you didn't like it.

I’m sorry Fud, how long have you been in production?



This is an opinion forum. I gave my opinion.



As far as having someone motivate me, I’m sorry that you need that sort of thing. What I needed from Jones was to be left to my own devices and not have “the firm” shoved down my throat.



How long have you been at Jones?



People who have been there a while and have worked there a while can talk. You, can’t.



In my book you simply don’t know what you don’t know (which has been said about Jones reps many times).



Whiners quit. They don’t plan and implement a strategy and start a business that is wholly theirs (no non-compete, non-solicit here). I think you need a reality check before you start accusing people of whining.



And if I want to write my opinions all over this board I will until the Admin stops me. Give me a call when your contract is up, I might have a spot for you if your brain has developed.

[quote=Moraen]I’m sorry Fud, how long have you been in production?
I can understand why someone like you would try to shift attention from your own insecurities to someone else’s lack of experience. It’s simply a defensive response, but it really has nothing to do with what we’ve been discussing.
This is an opinion forum. I gave my opinion.
As did I.
As far as having someone motivate me, I’m sorry that you need that sort of thing. What I needed from Jones was to be left to my own devices and not have “the firm” shoved down my throat.
I never said anything about me needing to be motivated. You can go back and read the post again, but my comment regarding one’s motivation was not directed at you. Just the whining part. You obviously had other issues with your employer that you could not resolve. I don’t really care about your problems.
How long have you been at Jones?
Again, this is immaterial. If I told you 15 years, you wouldn’t believe me. If I told you 15 min., you’d use it against me. It actually doesn’t matter because none of my comments have anything to do with industry experience. All of my opinions…and that’s what they are…my opinions…are directed at your attitude. I never actually “stuck up” for EJ, rather, I just called you out on your ridiculous whining and complaining.
People who have been there a while and have worked there a while can talk. You, can’t.
I disagree. Unless you catch me talking about how great the company is and how it’s the best business model ever and that all the other firms are crap and blah blah blah…don’t begin to try and tell me what I can and can’t express.

[quote=Fud Box][quote=Moraen]I’m sorry Fud, how long have you been in production?
I can understand why someone like you would try to shift attention from your own insecurities to someone else’s lack of experience. It’s simply a defensive response, but it really has nothing to do with what we’ve been discussing.
This is an opinion forum. I gave my opinion.
As did I.
As far as having someone motivate me, I’m sorry that you need that sort of thing. What I needed from Jones was to be left to my own devices and not have “the firm” shoved down my throat.
I never said anything about me needing to be motivated. You can go back and read the post again, but my comment regarding one’s motivation was not directed at you. Just the whining part. You obviously had other issues with your employer that you could not resolve. I don’t really care about your problems.
How long have you been at Jones?
Again, this is immaterial. If I told you 15 years, you wouldn’t believe me. If I told you 15 min., you’d use it against me. It actually doesn’t matter because none of my comments have anything to do with industry experience. All of my opinions…and that’s what they are…my opinions…are directed at your attitude. I never actually “stuck up” for EJ, rather, I just called you out on your ridiculous whining and complaining.
People who have been there a while and have worked there a while can talk. You, can’t.
I disagree. Unless you catch me talking about how great the company is and how it’s the best business model ever and that all the other firms are crap and blah blah blah…don’t begin to try and tell me what I can and can’t express.

[quote=Moraen]Jones offices are stand alone.  Usually one broker and one BOA.  The firm takes a huge hit on paying for the space and the assistant.  new offices are often opened with very little AUM. 

Spiff’s opinion on Jones can be respected. He has been there and does quite well for himself.



I say it’s crappy, he says it’s not - we can agree to disagree.



Probably the better way to state it is crappy for me. I actually apologize - I should have given only factual information since in fairness he did not ask for my opinion.



As for Fud - as you can see, people who have been there know what I know - you can talk about someone being a whiner when you’ve actually been to a few regionals.



There have been people on here who have called it whining - and they likely have good reason - their experience at Jones was different. You don’t have any - so it might be better for you to wait - then your opinion on whether or not Jones is a great company may be respected.



Just so you know, when I started with Jones, and all the way up to my eighteenth production month, I thought I was going to be at Jones the rest of my life.

Spaceman Spiff is right, imo.  Talk about a crappy gig; my old career was crappy as hell.  I started out of college in a commodities trading position for a large co-op, but about 9 months into my training (traveling around doing various jobs for a few weeks), that division of the company was sold; so I spent the next 12 years in accounting, qualitiy assurance and then up to manufacturing management!  I made nice income and bonuses, but basically managed about a 700-person plant of predominantly immigrant workers - for 12 hours a day!

SO your saying EDJ’s is better than managing a bunch of Mexicans at a chicken slaughtering plant…hmmm…ok…I’ll give you that. 

[quote=Moraen]Spiff’s opinion on Jones can be respected. He has been there and does quite well for himself.

I say it’s crappy, he says it’s not - we can agree to disagree.

…

SO your saying EDJ’s is better than managing a bunch of Mexicans at a chicken slaughtering plant…hmmm…ok…I’ll give you that. 

If your region is anything like my old one, we may need to hurry up my standup..as the defections are taking an almost laughable uptrend.  I may appt myself the RL for LPL in my area...that would be the shit!!

I talked to a good friend still with Jones last week and he said most of the Seg 1's and 2's are in trouble and many of the 3's are struggling.  Said that he didn't know what his region will look like in the fall if this keeps up.