I dont understand the Edward Jones hiring process
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Windy do they increase your standards when you take over an office with assets or do they only do that for goodknights?My bad. The office had under $5M after i transferred in, so yes $3 of that was mine already.
Windy do they increase your standards when you take over an office with assets or do they only do that for goodknights?[/quote] They do raise your standards even if you take over a small amount. It's kind of a crock, but whatever. I don't complain, i just do it.[quote=Ronnie Dobbs]My bad. The office had under $5M after i transferred in, so yes $3 of that was mine already.
[quote=Moraen]Holy crap! We get it Windy, you are an Edward Jones god. Seriously, I have never in my life seen someone brag so much about how much money they make.
With that kind of success, those of you who still go to the new FA meetings, how many times have you seen DJ on a broadcast? He should be on there every flippin’ month.[/quote]
This is just a rumor but I’ve heard they are flying him out to my fall regional meeting. He’s going to lead the Segment 5 breakout session. Again, that’s just what I heard.
[quote=voltmoie]
[quote=Moraen]Holy crap! We get it Windy, you are an Edward Jones god. Seriously, I have never in my life seen someone brag so much about how much money they make.
With that kind of success, those of you who still go to the new FA meetings, how many times have you seen DJ on a broadcast? He should be on there every flippin’ month.[/quote]
This is just a rumor but I’ve heard they are flying him out to my fall regional meeting. He’s going to lead the Segment 5 breakout session. Again, that’s just what I heard.
[/quote]
If those guys are lucky he might let them carry his luggage to his room and give them a little sage advise as a tip for a job well done.
EJs uses the shot gun approach. If they hire as many people as possible, one is bound to stick.
I didn’t like their structure, too slimey. Your competition isn’t another advisor, your competitor is the guy selling vacuums, Tupperware, or magazines.
If your successful at EJ, good for you.
[quote=someonewouldntexpect]EJs uses the shot gun approach. If they hire as many people as possible, one is bound to stick.
I didn’t like their structure, too slimey. Your competition isn’t another advisor, your competitor is the guy selling vacuums, Tupperware, or magazines.
If your successful at EJ, good for you.
[/quote]
That’s complete crap and you know it. Tell me, do the wirehouse have a better retention rate on new advisors?
No offense, but EJ advisors and Wirehouse advisors are going after different clients. HNW v. someone with $25k.
[quote=someonewouldntexpect]No offense, but EJ advisors and Wirehouse advisors are going after different clients. HNW v. someone with $25k.
[/quote]
Still waiting for you to answer my question.
was it a serious question? People with big money want to invest with guys from elite schools and nice suits, not grocery store clerks turned into FA's[quote=someonewouldntexpect]No offense, but EJ advisors and Wirehouse advisors are going after different clients. HNW v. someone with $25k. [/quote]
Still waiting for you to answer my question.
was it a serious question? People with big money want to invest with guys from elite schools and nice suits, not grocery store clerks turned into FA's[/quote][quote=voltmoie] [quote=someonewouldntexpect]No offense, but EJ advisors and Wirehouse advisors are going after different clients. HNW v. someone with $25k. [/quote]
Still waiting for you to answer my question.
Want to compare degrees and suits? Anytime :) That was not my question though... I won't give it to you, go back a page and look.
Can you give me an example of a time EDJ has hired a grocery store clerk? The majority of the people from my region have previous industry experience or professional experience.
didnt you read the thread? my example is the 1st post, i wasnt kidding.
lol, i was kidding about the degrees and suits.I read it and I think you are either lying or not giving us all the facts. The real question is what kind of retard is your friend that he can’t get hired by Jones?
Now, we might hire a recent college graduate that worked as a grocery store clerk through college. Does that make us any different than a wirehouse?volt - I doubt he’s lying. I know a guy who has a Master’s degree in Statistics that didn’t get hired. And a guy who was a Target assistant manager who got hired.
Tractor salesmen, guys who sold books door-to-door.
I can only speak from my limited perspective .... I've not seen anyone in my region or at my KYC & Eval/Grad classes that worked the check out counter in a retail enviroment.
There were guys with f2f sales, education, banking, and many different backgrounds ... but grocery store clerk? None.I am sure, like every firm, that there are guys out there with bizarre backgrounds. However, every year we get a package at the regional meeting with everyone in the region and it lists their previous employer. I have looked at our region, and I would say 90-95% of the FA’s in my region have financial backgrounds. The top 3 previous employers are banks, insurance companies, and wirehouses. Most of the non-financial people were previously business owners. A few were salespeople in various B2B industries. I just don’t see anyone with strange backgrounds like everyone seems to see here. And I’m not defending Jones, I’m just saying that’s what I see. We may be unique in that I am in New England which has a high concentration of financial services jobs. I will also say that I don’t think there’s a strong correlation between previous career and current success in this industry, because very few of those people are lighting the world on fire right now.
No lie, I know a guy who was a wedding DJ before Jones.
Who cares? IF the guy can sell, why not give him a shake. Extreme example: I had a friend at my last employer (large Mutual fund) who was probably the smartest human being I've ever known. Graduated from an elite school, FSA (A.K.A. Super Delux Actuary), MS Finance, Comleted the CFA, lectured at a local university.. He was the guy to talk to when daydreaming about useless crap like Bond Convexity, implied volatility on equity options, disecting Black Scholes(I'm actually embarrassed to admit I was once interested in such things).
Guess what? This guy could figure out a way not to make money with a Lemonade Stand in the middle of Death Vally surrounded by people dying of thirst.
Super nice fellow; just too smart for his own good and would fall flat on his face in a production environment.
[quote=Cape1] [quote=SometimesNowhere]
No lie, I know a guy who was a wedding DJ before Jones.
[/quote]Who cares? IF the guy can sell, why not give him a shake. Extreme example: I had a friend at my last employer (large Mutual fund) who was probably the smartest human being I've ever known. Graduated from an elite school, FSA (A.K.A. Super Delux Actuary), MS Finance, Comleted the CFA, lectured at a local university.. He was the guy to talk to when daydreaming about useless crap like Bond Convexity, implied volatility on equity options, disecting Black Scholes(I'm actually embarrassed to admit I was once interested in such things).
Guess what? This guy could figure out a way not to make money with a Lemonade Stand in the middle of Death Vally surrounded by people dying of thirst.
Super nice fellow; just too smart for his own good and would fall flat on his face in a production environment.
[/quote] The problem is a lot of them can't sell. This guy would roll around in a Mystery Machine like van like a child molester stalking people in their neighborhoods. I know there are success stories in every walk of life where the little guy got a shot and made the most of it, but there are many more that get blown up trying to make it work, bankrupting themselves and embarrassing the firm. I don't mean to be harsh, but in many cases there is a good reason these people do the work they did before their career as an FA. It is because they lacked the savvy or ambition to do anything else.
Seems to me Edward Jones business model was profitable last year while other brokerage houses were selling, going out of business, or changing names. They were also hiring while others were firing or too scared to grow their sales force.
Sooooo, that begs the question ... WTF do you guys know? Have you ever run a business the scale of Jones? I'm guessing they know it takes 1000 hires to produce 100 profitable advisors and that at a certain point those 100 advisors profit covers the recruitment and training costs of the 900 that failed. .... but hey, the guys running guys are probably just St. Louis rednecks guessing at this sh!t.[quote=voltmoie]Seems to me Edward Jones business model was profitable last year while other brokerage houses were selling, going out of business, or changing names. They were also hiring while others were firing or too scared to grow their sales force.
Sooooo, that begs the question ... WTF do you guys know? Have you ever run a business the scale of Jones? I'm guessing they know it takes 1000 hires to produce 100 profitable advisors and that at a certain point those 100 advisors profit covers the recruitment and training costs of the 900 that failed. .... but hey, the guys running guys are probably just St. Louis rednecks guessing at this sh!t.[/quote] I know that a guy driving the Mystery Machine around a neighborhood blasting the Macarena out the windows will probably get fired.