Damn nevermind you do have to have 4 years of experience to be a regular member of CFA and to use the trademark i think.

Guess my only real option is to start being a licensed assistant or something

Jones is a good place to start but as everyone here has said it is very very difficult the first two. Despite all the hype the Jones IR’s tell you about support you are basically on your own do either make it or not. If you are prepared for what is basically a “sales” career then you will probably be fine.  Jones does not stress nor encourage becoming a financial planner because they want you to sell.   I would recommend negotiating with Jones for a goodknight opportunity ( taking over a portion of an existing brokers assets ) or taking over a vacant office rather than going new new.  At least you will have a base of customers to build on.   Think it over and as others have said explore ALL of your options before you sign on the dotted line… Caveat emptor

Start at Merrill and go Indy.  Merrill will pay you $40k if you do the 24 month program ($15MM in Assets, $10MM Annuitized).  You can get more than $40K, (had a buddy that negotiated $60k) if you opt for the 18 month program.  Same asset req, less time.  I agree with the others that you should wait to become an Advisor until you're a little older and have some salt n pepper on your head...

Becoming a registered assistant is a great way to see how the biz works....Maybe a team will recruit you as an FA down the road...

Start building your network TODAY. Join Chamber of Commerce, Rotary,

Lions Club, whatever. A lot of the clubs are looking for younger

members. Join now, and in a few years when you jump into the new

business, you will know a lot of people. Start going to every event in your

area. Do volunteer work. Just get to know people. This is regardless of

what you do on the career side before you become an advisor.

Some great posts guys.... I'm supposed to get in touch with my wealthy uncle's advisor from Morgan Keegan, who I am going to try to get some info from maybe references for a job.  How is their reputation?

I think I'm going to start playing golf as well as getting more involved with the community.

Ummmm Jones.......I guess you can start there, work like a dog, find out the world isn't green somewhere down the line and get nailed with a non-compete when reality hits.  Sounds like a winner to me...

Actually Jones is the slow road.  It will eventually get you somewhere if you survive, but make sure you investigate all your options first there are probably better ways.

Do NOT go in as a new new. I repeat, do NOT go as a new-new, unless you are masochistic.

I made it as a new-new, but only because I was EXTREMELY LUCKY and worked like a COAL MINER.

90% of new news FAIL WITHIN THE FIRST YEAR. 

Most Goodnights and E.O's MAKE IT because they are handed a base of assets to work off of.

If you are NOT GIVEN ASSETS then DO NOT JOIN EDWARD JONES.

[quote=farotech]

Do NOT go in as a new new. I repeat, do NOT go as a new-new, unless you are masochistic.

I made it as a new-new, but only because I was EXTREMELY LUCKY and worked like a COAL MINER.

90% of new news FAIL WITHIN THE FIRST YEAR. 

Most Goodnights and E.O's MAKE IT because they are handed a base of assets to work off of.

If you are NOT GIVEN ASSETS then DO NOT JOIN EDWARD JONES.

[/quote]

I totally agree. However, if you are promised a certain amount of assets (we've got a $20,000,000 book for you, etc.), take it with a BIG grain of salt.  I heard they told the Jones guy, who took over my book, that the branch would be the same size as when I left. Too bad I ended up taking a little over 80% of the assets. That guy has already left (less than a year) and a new guy started about two months ago.

The firm is notorious for misleading stats on AUM to lure brokers to existing offices.  I've seen it done over and over again by RLs, BOAs, and home office folks.  I've seen some poor souls go out of their way to take over offices, usually competitive, and get there and find a shell.  Many say that at least a newnew now has an office and BOA, but the office is still just like a distressed piece of property.  The surrounding area was likely prospected to death, and of course higher performance standards for taking over the office. 

But still, this is just a mental setback.  I've seen young men and women take over an office with no assets and get busy building a book.  It can be done.

I was 24 ..and started at Jones.. So I know what you are up against..

no money

no one to take you seriously (at first)

no real experience to reference

no huge contact list

but I did have

insane deteremination

a place to sleep  so I could work 12-14 hours a day (no joke)

2 hours a day door knocking business 5-6 hours knocking on redential doors and entering data.. 5-6 hours calling on the phone..

6 days a week to work

DIRT CHEAP EXPENSES.. I lived in a ghetto flat and drove a cheap ass ride..

an ability to comb my D.I.N.K. nieghborhood (Dual Income No Kids)

************************************************************ ****************

As you might see everything wasn't rosey ....but I can tell ya my first doorknock was my first client.. and it was a tax-free muni... but back when I was selling them ..they had a spread on them.. (oh and btw I have been in the biz now for over 12 years...) You can make it . I would reccommend as they say though that you angle for some assets to be in the office or AUM or both.. that will only help you.. office gives you credibility and AUM gives you some clients to work with ..

KEEP THE FAITH ..you are going to need it..

Never worked for EJ, but I have a good friend who has been with them for a decade.  He was in his mid-20’s and moved to a new state to start his practice.  He had no contacts, knew not a single person except his wife, but did what Whitewlfz did.  His book is now $100 million.  A minimum week for him was 70 hours.  It was by no means easy, but he did the work and made it.

I was told all kinds of stories like that before I started and when I was training. The reason people tell those stories is because they are unusual. So the bottom line is, if you are willing to do what the above cowboy did, then try it out.

The new goal at Jones is that NOBODY starts with $0 in assets.  We have a boatload of brokers out 8-10 years ready to do a Goodknight plan, or who should be considering one, open offices in many regions across the country, and when a new FA comes into an area we all get a wire asking what kind of assets we might be willing to push his way.  No pressure to actually do it, but they're looking for assets for all the new people. 

Starting new/new at Jones isn't much different than starting new/new at other firms.  The doorknocking is a different spin than anywhere else, but it amounts to the same thing.  Contacts.  Period.  Ring the phone or ring the doorbell, you pick.  Just make the contacts and ask for the order. 

If looking for an existing office/Goodknight office, I would choose an area that is developed with offices, but not OVER developed.  In my area, there are many offices, but not nearly what I hear about in places like St. Louis.  I would not go to an overdeveloped area even if you gave me a $20mm book.

On the flip-side, no offices in an area means no office to take over and no Goodknight.  The caveat to this is if you are in a rural/suburban area with NO competition.  I have a friend with Jones that is in a little town of 3,000 people, and he is basically fishing in a fishbowl.  Nobody in town has ever invested (next closest firm is about 60 miles away), and all their money is in THE bank in town.  He will probably never have a monster book, but he will probably do better than that bank president.

But, like Spiff said, not much different conceptually than starting anywhere else.

Even if you end up in an "over developed" market, like me in the STL burbs, there is an advantage.  Density.  I grew up in a small town with a population of 5506.  In that zip code, that is over half rural, there are now 6000 households and $1.5 Billion in liquid assets.  The zip code my office is in has 17,000 households and $5.7 billion is liquid assets.  There are three other zip codes within spitting distance with $5.5, $6, and $9 billion and a total of 57,000 households.  So, 74,000 households within a short 20 minute drive and $26 billion in assets out there for the taking.  All I want is my 1% market share in the next 30 years of my career.  I don't think that's asking too much.   

I run into people who invest with Jones frequently, but not as much as you'd imagine.  The money is there no matter what market you are in.  The question is can you get it. Get an office if you can, but don't shy away from the new/new.  As much turnover as we see at times, you may not have to stay new/new very long.             

Density is between your ears Spiff. Ask any Mickey Dee's franchisee if they feel the advantage of a storefront on every corner. As long as you are a clone , you will be viewed as a clone. Ever had a client go down the street to another office? Every experience a client who is shopping Jones brokers?You are only a razor blade away from being replaced.

Turnover is part of the plan. No matter how you slice it, the firm cares little about the client and even less about you. The crap about assets is to keep you diggin for more. It's great to be a GP.

Spiff you have always appeared to be intelligent in your posts. You need to step outside the Jones culture and see what is available. In my experience, after nearly 10 years at Jones, and now less than  of independence, I was sadly mistaken about so many things at Jones. And I would never go back to that environment. Ever! My family is happy, and I am ecstatic. I love to come to work now. The last three years I hated to get out of bed to put another dollar in their (and yours) conflict ridden company.

Footsolider,

What have you found appealing in your new spot?  Looking back, what about Jones were you so wrong about?

foot - OK.  Let's agree to disagree.  I think Jones is a great company, albeit with some growing pains.  I think that a guy like you isn't going to be happy anywhere unless you think you are in complete control of your destiny.  You believe that anyone who works for "the man", whether Jones or anyone else, is somehow not thinking clearly.  I don't doubt for a second that you are much happier now, and by extension your family is happier, than you were at Jones.  Maybe it's better money, maybe it's less corporate politics, maybe you just needed something different.  Congrats for finding something that makes  you happy.  That's what makes this world great. 

Jones doesn't shout about assets to us.  It's available on the system and I chose to dig for it and use it for my frame of reference and marketing efforts.  The avg FA out there doesn't know how many dollars in TLIA it takes in a zip code to for Jones to consider a zip code viable for an office.  By the way, according to the last Jones numbers I was told, my zip code would support 20+ FAs.  There are 7 of us.  

Buying a hamburger (or Asian Chicken Salad if you're my wife) isn't the same as choosing an advisor to work with.  I'm not marketing happy meals and asking if you want Apple Dippers or fries.  Can you tell I've got kids?  People are going to shop around.  They should in order to find someone they are compatible with.  Some people won't give you a second thought because you're office doesn't say Smith Barney or Ameriprise.  Those same people will call me because my office says EDJ. 

I had a $250K walk in last night because my office sits on a highway and the guy drives past it twice every day.  He also drives past a Morgan Stanley office, a few independant office, 3 banks with brokerage services, a credit union with brokerage services, a Thrivent office, and a half dozen CPAs that say they have financial services too.  When I asked him why he chose Jones and my office he said it was because he had heard good things about Jones and knows we are a local firm.  And my office is the closest to his house.  That tells me the marketing is working for us.  I get a couple of those every year.  So what if my office is a clone of someone else's.  I still have to work with and keep that client.  The cookie cutter approach to building our businesses just keeps it simple.        

Spiff,

I think you are right.  Some will never be happy, no matter where they are.  I still have friends at Jones who are happy being there and I say more power to them.  I'm glad you're happy there and there are many RR who will stay at Jones and have a great career there. Keep working hard for your clients and do what's best for them.  I my case and for my clients, it was best I left Jones, that they left with me and I and they are happy I did.

Spiff-

Reasonable people can disagree. I thought I was a happy camper at Jones, until all the BS. It forced me to look outside the box, see what was there, do my due diligence. All I am suggesting is educate yourself before you make blanket statements.

I have been where you are and beyond. There is no way you can understand the difference. You aren't there yet. When you have left Jones and are somewhere else, then you can speak from a knowledge perspective. Good luck to you. You may very well be different than most Jones brokers, but your offerings aren't.

And I am sorry, but I have seen very little benefit to offices on every street corner. Just as my friend who is in the burger biz said its a model that has to benefit the company, and clearly the Jones model benefits the GP's.