And you commit suicide in Year 5?

[quote]And you commit suicide in Year 5? [/quote] 
Huh?  It’s more a retirement plan.  You’re 62, been in the biz for 30 years and want to phase out without losing all the income and benefits right away.  Brings on an experienced FA (I think they require an existing Jones FA with 3 years and meeting standards), starts working with clients, and you transition out.  Jones says you need to work “in relation to the % of prodcution” you earn.  But from what I hear, most just stick around for 6 months to help ease the transition for clients, then sail off into the sunset.

[quote]

Sail off into the sunset like an eldery eskimo on an ice flow?

WB, I think you’ve been throwing back too many cocktails.

For the record, I am not comparing myself with a scratch-starter. I agree that FAs taking over offices shouldn’t be “paraded around” etc, etc, at regional meetings, and agree with B24 that we have entirely different goals and obstacles than newnews. Everyone has a different story, but the book that I took over was a MESS with severely disgruntled clients,  and with the book I also inherited a maniacal BOA. The extra money I made my first year was spent on anti-anxiety meds.  I’m running from a train vs. pushing a boulder up a mountain.  Yes more money, but still a lot of work and stress. My point is that sitting around being a self-indulgent whiner (navet) doesn’t make any money or create clients. Not a lot of potential in this business for an easily bruised ego.

[quote]For the record, I am not comparing myself with a scratch-starter. I agree that FAs taking over offices shouldn’t be “paraded around” etc, etc, at regional meetings, and agree with B24 that we have entirely different goals and obstacles than newnews. Everyone has a different story, but the book that I took over was a MESS with severely disgruntled clients,  and with the book I also inherited a maniacal BOA. The extra money I made my first year was spent on anti-anxiety meds.  I’m running from a train vs. pushing a boulder up a mountain.  Yes more money, but still a lot of work and stress. My point is that sitting around being a self-indulgent whiner (navet) doesn’t make any money or create clients. Not a lot of potential in this business for an easily bruised ego.[/quote] 
Is that you, Karen?

Me, a self indulgent whiner? You’re the pussy who needs medication in order to handle the terrible stress of having a large book handed to you. What a fiasco, guaranteed income! It’s so hard to make that money! I’ll bet you were the kid who’s mantra was, It’s just not fair! The sad thing is that Jones rewards losers like you.Sadder still, they use you as some kind of example.

Ahhhh, a good Jones bashing thread...this is finally starting to feel like home...

(yeah, the emoticons are kind of lame...)

navet's doing it all wrong

Rich Chick - You shouldn't call anyone a whiner. no one gives a Rat's A** if you think it was difficult to manage a big book thrown your way. You won't earn any points acting like a tough guy when you never built a book.

On another note the worst thing isn't the money you make that real newbies don't immediately make or the book you are GIVEN. It (for me) comes down to 3 points that I will never forget about this situation. 

A. The quality of lifestyle. (you call clients all day, real newbies(taken over at least less than 10 or 15 million) are calling prospects. COMPLETELY DIFFERENT JOB ALTOGETHER).

B. Earning trips that I deserve and you don't. (When I was new, I knew I was the footsoldier of the firm. Yet trips were going to people like this OP stated. What did that FA do? Nothing but call excisting clients. Yet I was building Edward Jones' book (unfortunately it is theirs legally). I was the one doing the work and you were the one having 4 happy little appointments everyday and thinking you were working hard.

C. Listening to you tell me how you did so good "It all just came together" sound familiar?

Good thing about it NAVET, is that I have been through it all. I love going on D trips and seeing some newbie who earned his first trip and asking him if they think it is harder to build a new business now or before 2008.... And watching them explain that they took over an opportunity, of course they discount what they took, and defend that they really do work.... Seriously it is funny to me now but so hard to deal with when I was new... hope that helps!!!! At the end of the day you will pass each and every one of these guys. I promise.

The point I want to make is this. There is nothing wrong with inheriting a big book. More power to you. I'd take it. The issue is treating these FA's like some type of hero and parading them around as if they built that book themselves. It can't help but build resentment, and hurt teamwork. And unfortunately, it's very common. So, to quote that character from SNL, "STOP IT"!!!!!

I am 1 year into a 3 yr succession plan (3rd year is the "consulting" year) and I feel guilty taking the position after reading this post. A succession plan is nothing like going New/New. The big difference comes down to prospecting. If there is a day or a week where I don't feel up to going out doorknocking, I don't have to. New/News don't have that luxury. A Regional Leader would be stupid to have a succession plan person as a Seg 1 or 2 leader. We just can't relate to most new FAs. BTW, If a succession plan person grossed $37000 in a month, the branch would need to gross around $120k that month. Succeeding FAs take 30% during the first year, unless the commission is generated from a new client. Succeeding FAs take 70% of the commission from new clients and the remaining 30% goes to the retiring Advisor. I make the mistake of taking my good fortune for granted. After reading this thread, I am going to force myself to go out and doorknock tomorrow.