B - It's actually $300 on the seminar reimbursement.  That's the highest they'll go. 

FA - yes.  For all the complaints about EDJ on this site, Jones is a fine company to work for if you want your name associated with a firm.  Many of the things people like to complain about don't have much to do with you building your business and creating a life for yourself. 

[quote=careerFA]

This forum has been extremely helpful..

Is EJ a place for someone who wants to build the practice, with the company support, and do this for the next 20 years?

In other words, how many of the EJ FA's have 10+ years with the firm?

[/quote]

I would guess about 1/2 the FA's have 10+ years.  Keep in mind, the firm didn't really start to grow exponentially until the 90's, so there are a lot of FA's in the 8-12 year mark.  In 1997 we had 4,000 FA's.  We now have around 12,000.  So you can see that it's a relatively young firm in terms of growth

[quote=Spaceman Spiff]

[quote=careerFA]

Thanks B24. If I were to bring over around 10 mm in assets from a former employer, and prospect through referrals and other contacts, will that approach be well recieved at EJ?  - Yes

Or will I still also be expected to prospect through their format (DK)? - Yes.  But only during the initial training period if you go through the normal KYC/EvalGrad process.  After that, they really don't care how you prospect as long as you're putting up the numbers. 

Do I have any say in the branch location of BOA hiring process? - Some.  As to the BOA, if you have someone in mind, you can give their info to the home office.  They'll interview them just to make sure they are a good person to hire.  After that you can hire anyone that makes it through their screen

As to the office location, you get to pick your area, then work with the leasing folks to find office space.  It's highly likely that you could end up taking over an existing office or doing a Goodknight plan or some derivation it, so finding an office immediately may not be in the cards for you.

[/quote]

[/quote]

Care to elaborate on why that would be the case?

Spiff made that comment, and that was news to me. Most EJ office in my area have been populated by new hires recently licensed

I would assume the 6-9 month building contacts applies to everyone, then if producing, office comes next.

This thread is like reading a script...  (good grief these econs suck)

EDJ has been a great firm to work for in my opinion. I started approx 4 1/2 yrs ago. I did a 10mil Goodknight program, and have grown my business to slightly over 40 mil. We have great support, comraderie, and leadership in our region. My experience at Edward Jones has been a great one, and I would recommend the firm to anyone thinking about going into this business.

[quote=careerFA]

Spiff made that comment, and that was news to me. Most EJ office in my area have been populated by new hires recently licensed

I would assume the 6-9 month building contacts applies to everyone, then if producing, office comes next.

[/quote]

It sort of depends on how quickly you do it.  If I were you, I would ask for a "Legacy" office at minimum - and office that you can work out of rather than your house.  That way you can take your time looking for office space.  If you really bring over $10mm, and it's a "productive" $10mm, you should be able to look for an office right away.  If it's $10mm in dead-end assets, it won't help you much.

And you are better off with a bunch of newbies in the surrounding offices - those are the one's that fail out quickly and open up offices.  If you had a bunch of veteran offices, none of them would open up.  Very few veterans leave the firm (as in 10+ year vets).

[quote=joelv72]

[quote=Spaceman Spiff]

[quote=careerFA]

Thanks B24. If I were to bring over around 10 mm in assets from a former employer, and prospect through referrals and other contacts, will that approach be well recieved at EJ?  - Yes

Or will I still also be expected to prospect through their format (DK)? - Yes.  But only during the initial training period if you go through the normal KYC/EvalGrad process.  After that, they really don't care how you prospect as long as you're putting up the numbers. 

Do I have any say in the branch location of BOA hiring process? - Some.  As to the BOA, if you have someone in mind, you can give their info to the home office.  They'll interview them just to make sure they are a good person to hire.  After that you can hire anyone that makes it through their screen

As to the office location, you get to pick your area, then work with the leasing folks to find office space.  It's highly likely that you could end up taking over an existing office or doing a Goodknight plan or some derivation it, so finding an office immediately may not be in the cards for you.

[/quote]

[/quote]

Care to elaborate on why that would be the case?

[/quote]

They would rather stick an experienced FA with assets into an office before an un-proven newbie.

I've got experience, have 10mm that come into wrap or managed accounts, then another 25 million to reestablish the relationship then gain commitment, and over 50 mm in potential rollovers over the next 5 years.

Can anyone shed light on the products for managed money, the bonds inventory for munis and corporates/agencies, and transactional commission structure?

[quote=B24]

[quote=joelv72]

[quote=Spaceman Spiff]

[quote=careerFA]

Thanks B24. If I were to bring over around 10 mm in assets from a former employer, and prospect through referrals and other contacts, will that approach be well recieved at EJ?  - Yes

Or will I still also be expected to prospect through their format (DK)? - Yes.  But only during the initial training period if you go through the normal KYC/EvalGrad process.  After that, they really don't care how you prospect as long as you're putting up the numbers. 

Do I have any say in the branch location of BOA hiring process? - Some.  As to the BOA, if you have someone in mind, you can give their info to the home office.  They'll interview them just to make sure they are a good person to hire.  After that you can hire anyone that makes it through their screen

As to the office location, you get to pick your area, then work with the leasing folks to find office space.  It's highly likely that you could end up taking over an existing office or doing a Goodknight plan or some derivation it, so finding an office immediately may not be in the cards for you.

[/quote]

[/quote]

Care to elaborate on why that would be the case?

[/quote]

They would rather stick an experienced FA with assets into an office before an un-proven newbie.

[/quote]

The way I read it, you would more likely move into an existing office than have one built out for you as a new rep.  If that's the case, then why is that?  B24 and Spiff, how many div points do you get per post?

joel - how many different people need to spell it out for you?  Let me see if I can simplify it for you.  You are the RL who is looking for a new FA to take over an office in Anywhere, CT.  The last FA couldn't cut it at Jones and now works for Thrivent.  You have a few choices.  One, you could hire the local dairy farmer who just submitted his resume to you to become the newest EDJ FA in Anywhere.   Two, you could hire a 22 year old kid you've never met who just got out of college, but who sounds really eager to work.  Or three, you could hire careerFA who is already licensed, has a decent sized book of business established.  With options like that, who do you think is going to get the nod from the RL?  careerFA can walk right in, set up shop, and be on the ground running in a matter of a few weeks.  And if he can instantly add $10MM in fee based biz to the branch, he's more than likely got an instantly profitable office in his region and he looks really good on his regional report card. 

Or he can take a chance on the dairy farmer or the 22 year old kid.  If I were the RL I'd tell the 22 year old kid to go get some real work experience, come back in 3-5 years, and do a GKN with careerFA who evidently will have a $60MM book by that time.   

I told him it was more likely that he'd get an open office or do a GKN or something like it because of the focus Jones has right now of starting everyone in an office with at least a few assets.  Unless he's going into an area where Jones doesn't have a ton of offices yet, if he does a plan that puts him in an office sharing environment for a while, chances are an office will open up. 

And zero points for all the posts.  I'm the propoganda division for Jones and I work for free. 

Ohhhh, I figured it was because a great many Jones offices are revolving doors.  My bad.

Joel, you are the biggest fukcnut I know.

[quote=joelv72]

Ohhhh, I figured it was because a great many Jones offices are revolving doors.  My bad.

[/quote]

The funny thing, funny as in interesting not funny as in ha ha, is that the attrition at EDJ is no different than with other brokerage firms.  It's just more noticible because of our one man office setup. 

Who knows, maybe careerFA could end up taking over your office when your boss figures out that you're not mentally competent to be in it. 

Hey, I'm not a Jones basher!  Spiff put it right, and even B24 commented on it as well in another thread.  With your business model you end up with alot of empty offices.

[quote=Spaceman Spiff]

[quote=joelv72]

Ohhhh, I figured it was because a great many Jones offices are revolving doors.  My bad.

[/quote]

The funny thing, funny as in interesting not funny as in ha ha, is that the attrition at EDJ is no different than with other brokerage firms.  It's just more noticible because of our one man office setup. 

Who knows, maybe careerFA could end up taking over your office when your boss figures out that you're not mentally competent to be in it. 

[/quote]

I guess that means I would have to fire myself. 

youve got to get out while you can YOURE TRAPPED YOUVE GOT TO GET OUT

Gunn caught the Tar Sands and oil bubble of the middle of the past decade and made a great killing......probably bought and sold stocks that weren't "sanctioned" by St. Lou. 'cuz he had such a big and profitable book he got solicited by many firms......he threatend to leave UNLESS he got a GP (I'm not sure if he even had much if any LP).

 I can believe riding oil and killing it, also I know he went into the home office 1 month before shit really started to fly in 08. Employees telling the green machine what to do, not so sure about that.

I have reviewed the FA guide prior to my screening interview, and I wanted if someone can asnwer this question for me:

If I already have 200 local contacts, will that meet the guidelines for KYC, FF, contact entry stuff?

Will the RL or mentoring FA press me hard on doing the DK as well in my area?

(PS:  I have assets and clients ready to make the move)