I'm not sure I get where you are coming from (other than the Jones sucks that you so eloquently keep stating for us). No one has ever accused me of being arrogant.  Confident, self assured, good looking, yes. Arrogant. No.

No bonds today, too many other appointments.  However, the NVS that I've been selling for the past few days worked out really well today.  Thanks for asking though.   

I know that my answer to sooth didn't fit with the opinion you have of Jones GPs.  Caused some kind of cognitive dissonance (you might need a dictionary for that one) in your head.  Just another attempt from the spin doctors on this board to share their contempt for Jones. 

I'm curious.  How long were you at Jones to develop this attitude?  6 months?  A year?  Were you successful while you were there?  I'm just trying to figure out where all the venom comes from.

[quote=Spaceman Spiff][quote=Soothsayer]

In your first post, you said that you get LP based on profitability and volunteerism.  Since you had no profitability in 2003, can we now admit that was a false and misleading statement by the GPs prior to the offering. 

Let's do a little hypothetical.  Let's say Broker A has no profit (in the red as far as P/L, not production), but has volunteered his/her ass off.  Mentored, trained, #77, organizing regional events, etc., etc.  Broker B (who took over Daddy's book) never volunteers, not even a lick, but has a decent profit.  Broker C starts from scratch,has all the volunteerism of A, and the production and profit of B.  All are in the same region.  Who gets the most LP?  Careful how you answer Spiff.  It might me a trick question.

[/quote]

My best guess is that Broker A would get passed over, simply because he doesn't have any profit.  In fact they would probably tell him to stop volunteering and working on making the office profitable.  Broker B would get considered, maybe given some, but not as much as Broker C. 

However, I'm sure you have a different answer based on something you experienced.  Otherwise you wouldn't have been dumb enough to put the question out there. 

[/quote]

Since you took the bait, I'll give you the answer.  Brokers A, B, and C were all offered LP.  Brokers' A and B amounts were identical.  However, Broker C was offered substantially less than Broker A or B.  Why?  Who knows why.  But, I can tell you that I was Broker C.  And, when no one could give an honest, truthful, logicial, marginally objective reason for that outcome, I left.

[quote=Spaceman Spiff]  

I know that my answer to sooth didn't fit with the opinion you have of Jones GPs. 

[/quote]

I know that you're confident, self-assured, and good-looking.  But, trust me, I'm even more confident, more self-assured, and no doubt much better looking.  For those reasons, please remebmer to capitalize "Sooth" in all of your future posts.  Appreciate it much!

Sooth- I have to say that I am without a doubt less confident, with no self assurance and look horrible in a suit… But I wear nice shoes…

I’ll smash you on the shoes, too.  I admit to a rather severe shoe fetish.  My collection would dwarf most womens’.  I ain’t braggin, just sayin’…

Ok Sooth- I wear Allen Edmonds almost exclusively now, what say you?

Not bad, noggin.  But, trust me.  You don’t want to compete here.  Some guys have obscene golf clubs, maybe an obscene boat, or a 911 in the garage.  Some guys’ wives have big bling and fantastic fake racks.  And then there is the guy with a cabin in the mountains or a handful of snow machines, wave runners, or dirt bikes in the third bay.  But with me, it’s all about the shoes.  I like blue and grey suits, but I wear them with some serious pimp-ass shoes.  And if there were 23 working days in a month, I might not wear the same pair twice.  Again, not braggin’.  Just sayin…

Ok,ok I give. Peace my friend…

A little story for you.  I got invited to a client's Christmas party this last year.  It was getting late, and everyone had had a few pops, and my client asked if I would like to see his wine cellar.  I was like, "Sure."  (Just being polite.)  He takes me and my wife down to his basement, opens this really heavy door, and our jaws hit the floor.  It wasn't just that the cellar was freakin' huge and well oraganized.  It was all of the building materials, thoughtfulness, and detail that had gone into the constuction and plannning of the cellar.  It was unbelievable.  

On the way home, I was commenting to my wife how blown away that I was, but also how I was surprised to know that he had such a passion, and had never mentioned it to me.  I told my wife, "I need a passion like that."  She says, "Sooth, he would be every bit as blown away by your shoe collection as you were by his wine collection."  I said, "OK, you're probably right." 

[quote=noggin]Ok Sooth- I wear Allen Edmonds almost exclusively now, what say you?[/quote]



JM Weston or Death.



More seriously, AE’s are nice shoes. Especially the black cordovan. Horsehide is tough leather which makes for very nice shoes.



Personally I like to wear my Wolverine Oxford’s unless I have client
meetings in which case I pull out the nice shoes. I used to wear
Johnston Murphy, but they have outsourced the low end to china, which
is just a sign that the rest of the brand will be going downhill



I hate polishing my shoes though, it takes good effort to have it done
right and preserve the finish of the leather without overshining it.



Also, the stocks of the various shoemakes: GCO, WWW, BWS etc are historically good investments since people need shoes.

Two words: Short sighted

    Why worry about 5k LP here or 10k LP there?  It's pocket change.  Worry about the 75k you get 10 or 15 years in the business.  An inherited 20 or 40 million book, who cares?  Those that start from scratch and LEARN how to gather assets will ALWAYS pass someone that starts at the same time and inherits assets.  If you are worried about the awards someone is getting because they inherited assets, call them out on it.  Grow some balls if it bothers you. 

    It's miopic to think that what happens now or in the near future really matters much.  This is a career, not a short-term job. 

Holy crap - 15 yrs in I might have $75k in LP what a great deal!  I am staying put, thanks you changed my mind!

What a load of crap - "short sighted" and "grow some balls" gotta love those recommendations from somebody who has drank so much koolaid they are beginning to look like "Hey Kool-aid" - Great insight there buddy!

Hey…f u…the koolaid has a minty taste and it allows me to stay regular!!!  I loved that crap!!!  I called the new guy in my old office and asked him why he wasn’t out DKing?  He said he was to busy calling on a great bond they have…5.4% BofA…YAHOOOOO.  HE said he sold 5k worth…A GP IN THE ROOM PLEASE!!!

csmelnix,

    75k of LP every 2 or 3 years.  That's what I was talking about.  Now that your moronism has become apparent, please enlighten us even more.

Will do - it takes 15 yrs for you to get that offer, that you pay for and cover the cost from all your earlier offers.  Yea, great deal again!  Take off the blinders stupid, I crossed the street and instantly increased my networth, had a true 1.5-2x value on my business w/o any strings attached, GPs to stroke, unpaid volunteer work to do, kool aid to drink etc… You are right, I guess I am a moron.

 Rank- you are a green-eyed pigeon. I was with edj 12 years top producer 7 of the 12. Started from scratch, the first 8 years I DID  EVERYTHING ASK OF ME, GROWTH LEADER,NEW IR LEADER,ran monthly cold call sessions etc etc. Left with 69k of lp that I paid for -with a promise of 60 more. Big deal!!! Its who you know-keep spreading the bs you must me a gp or a gp wanna be.

Free,

Thanks for the input...LP is a JOKE. Rank, can you be honest with the forum about your LP holdings?

FREE,

    Top producer for 7 years and had only 69k LP?  Your story doesn't add up.  Last offering I got 55k and I'm only at 570k production.  20% annual rate of return a joke?  haven't heard that one before.  BS?  Tell me where my numbers are off?

csmelnix,  What about your first statement?  15 years to get 75k LP?  Sounds like your production was such that you HAD to go across the street.  Let me take a guess.....No assistant, IKEA desk, first sale was an EIA, happy with 10% ticket charges, pay all 12.6% Social Security tax, haggled so you can afford your $500/month office rent, named your office "csmelnix wealth management, inc.", pay your own insurance, have your Banker's Life annuity support line on speed dial, and just bought a 1988 Lexus fully loaded.

And still have more net income, more freedom, control my exit strategy, more money into my retirement, more options to suit the needs of my clients, better technology to run more efficiently, better reporting and planning capabilities for my clients, and the clients do business with me not Jones....again, I guess I am a moron. 

I detailed my numbers in other posts while at Jones and while I been here with LPL - Try again....and let's all be honest rank; are you really producing or just a minion of Weddle in St. Louis?

Open up your eyes - I have yet to meet a former Jones rep that has joined LPL or anyother indy firm who has ever looked back.  Each time I come across one, we all say the same thing, "I WISH I WOULD HAVE DONE THIS SOONER!"  

You are such a TOOL!

Rank-

I left 6 months ago and have had two BME's in the last 3 months. After all expenses I have money left over to buy anything I want, including fabulous trips (which I do admit I miss) or pay down debt that I incurred at Jones over the previous 10  years. I also contribute 45K into a retirement plan (far more than being an employee) I have the time and the freedom to bring ALL products into the planning equation. I have never and will never sell an EIA. Others might but I find them too hard to describe to a retiree. I would much rather offer what I did at Jones and add key investments (which were never offered at Jones)to suit each client. 

I now sell C shares to clients under 100K. I now offer a total fee based platform. I still do transactions and probably never will stop, but I know  I don't want 1500 accounts. I'll bet your approaching that madness with nearly 600K gross (I admire that number and should hit it next year). I brought my assistant with me. I pay my own social security taxes. I have a payroll service. Yeah, it takes some time to set up but now its automatic.

While I appreciate the ownership concept (LP), I always felt that the income ownership but no true equity epitomized the double standards at Jones. We'll give you a great income investment that you don't have to pay totally for upfront (oh yeah and we'll make more money because we charge you interest). It reminded me of buying on leverage. Something I try to avoid for clients and Jones GP's were pushing it. Once again the doublespeak smells.

And it troubled me that they felt it was appropriate to borrow to buy their bond (because that's what it is). So rank, while I can appreciate your half hearted remarks about Lexus and our transitions, remember this if nothing else.

THERE IS A BETTER LIFE OUTSIDE OF JONES.

My wife tells me she has never seen me happier in the 20 years we have been married. And to me, that is a major difference because I did not get anything from Jones that I didn't earn. Most at Jones can not say that. The majority of the truly successful IR's were handed great opportunities.