Isn't it clear to all on this forum. EDJ is baaaad. Everyone else in the financial services (unless you are with MSDW) is goooood.

All together now......

Just wondering when was the last time we saw anyone else post that someone had left their firm other than EDJ. Makes you feel that this is nothing more than a forum for those who need affirmation that they did the right thing....

And you apparently then need affirmation that you are doing the right thing by staying.  What are you blabbering about anyway?  What's your point? 

7yr,

You seem to have changed your tune a bit?  I'm confident you will change it back.  Do you honestly see yourself staying at Jones for the remainder of your career?  Why would you....is a better question?

I still cannot understand why larger producers leave and take the up front check from a wire/regional.  It makes much more sense to go indy from the get-go.  Yeah...I know you can transfer at RJA to RJFS after your "contract" has expired--but you are giving up net each year you are at wire which will tend to be greater (once you add up all six years) then what you were paid up front to begin with...and after taxes (as an employee your deductions stink) even less?

I guess it's good to have choices--but some choices seem so obvious to me.

I’m new to the forum, but find this discussion rather interesting.



I left Jones a bit more than a year ago after several years with the
firm.  I agree that it was an outstanding place to hone my sales
skills, and the training was exceptional.  The problem, in my
opinion, however, was that it was – in their words – nothing more
than a sales job. 



I got in this business to have a tangible positive impact on my
clients’ lives and their financial well-being.  Simply selling
them the “preferred fund families” du jour wasn’t facilitating that
objective.  Although I was consistently “green” during my time
there, it didn’t seem that the overall goal of the firm was to
necessarily make a sustainable positive impact on clients, but rather
it appeared to be more of a revenue-driven proposition.  I can’t
tell you how many times I went to my Regional Leader for guidance on a
planning issue and was told, “Planning isn’t your job.  You’re not
getting paid for it, so don’t do it.”  He, by the way, is a GP.



Leaving was difficult, particulary because of the relationships I had
developed with many of the brokers in my region.  Interestingly,
when I left most of them stopped talking to me; it’s almost as if I
have leprecy. 



Early in the transitional period, most will question their decision
because the transition is very difficult.  But taking a 30,000
foot view of the situation has helped me dramatically.  In the
first 5 months as an independent my revenue was down
substantially.  However, in the past year, it’s up about 50% net
from my best year at Jones. 



More importantly, my clients are happier.

Great forum....it is sad but true, the firm left us, we aren't leaving the firm.

The last thing I thought I would ever do is consider leaving.  The friendships I have here are special, but I'm afraid most will evaporate should I leave....sounds like a cult to me.

There is a fine line between cult and culture....St Louis, we have a problem.  When the Putnam story broke and we refused to drop them from the "preferred list", it became evident to me that I needed to follow the money and find out why.....GP's do not want us to stop and think...we might get bent out of shape over the 88% of profits 250 GP's & subs get opposed to the 12% of profits the 6,000+ "LP owners" share.

The blindfold is off....the soapbox STL has been standing on is collapsing......and I am truly saddened by it.

[quote=ExNIRSS]

Great forum....it is sad but true, the firm left us, we aren't leaving the firm.

The last thing I thought I would ever do is consider leaving.  The friendships I have here are special, but I'm afraid most will evaporate should I leave....sounds like a cult to me.

There is a fine line between cult and culture....St Louis, we have a problem.  When the Putnam story broke and we refused to drop them from the "preferred list", it became evident to me that I needed to follow the money and find out why.....GP's do not want us to stop and think...we might get bent out of shape over the 88% of profits 250 GP's & subs get opposed to the 12% of profits the 6,000+ "LP owners" share.

The blindfold is off....the soapbox STL has been standing on is collapsing......and I am truly saddened by it.

[/quote]

It is sad.    I am an outsider.....never been a Jones-er although I am from STL.  They WERE a fine firm, but the greed got the better of them.....

Then again, when I was with AGE over a decade ago, my trainers were making jokes about Jones "touchdown bonds" back then.  So maybe they just finally got caught?  With their hands in the cookie jar?

In the end it's a sad story of greed getting the upper hand over ethics and principle.  Nothing more complicated than that.......

Exactly.

Even if Jones wasn't the revenue sharing king...even if they were straight with the "greatest salesforce in the world", they still wouldn't even come close to being indy.  Jones is minor league.

I would much rather own my own business than be a part of the self proclaimed "greatest salesforce in the world" anyway. 

[quote=zacko]

Exactly.

Even if Jones wasn't the revenue sharing king...even if they were straight with the "greatest salesforce in the world", they still wouldn't even come close to being indy.  Jones is minor league.

I would much rather own my own business than be a part of the self proclaimed "greatest salesforce in the world" anyway. 

[/quote]

Hey Zack I'm having dinner at Westport tonite at Casa!

ExNIRSS:

 Most of us who left feel the same way.  For me it was sad the day I knew I had to leave for me and my clients best interests.  I always thought EDJ was so great and so honest and dependable. I really trusted them.  There was a lot about EDJ that I loved and still miss but if I had to do it all over again, the only thing I would do differently is leave sooner.  The pigs have taken over.  Gone are the days of Bartow and others. Integrity out the window.  How sad.

As you said, "they left us, we didn't leave them."  I would highly advise anyone at Jones to leave.  It IS greener on the other side of the fence.

Enjoy the limp fruit in the crapy little salad bar. 

Just heard that another big-league EDJ guy from Extreme North MI left to go indy w LPL...$200 million book...saddened by direction of firm.

Also...has anyone heard anything new about directed trades from our preferred families?  I know this sounds dumb, but aren't we the only profit centers?  Did anybody get a call from Am funds asking to open an account to buy 500,000 shs of GE?  If these trades occured at home office, did the proceeds go to starving children in Africa or was this part of the 78% the GP's were working to earn?

Seriously.....has this been addressed already?  And please, Mr. Emoticon man...put down the Mountain Dew and Krispy Kreme's and check your blood sugar before initiating the launch sequence.  I think we agree on a lot of stuff, but you are David Duke-ing the cause...

EX, you are a bit late to the game.. That was a few weeks ago and has already been debated..

ExNirss

Did Jones have 2 that left in Mi? Are you sure he went to LPL? I know one exGP/RL went to Raymond James this month.

DT

Different guy--25 yr vet...went Aug 5th...spoke to him to confirm the story.

Guest 1,

Debated where?  On this thread?  I don't want to duplicate...I take it you are satisfied with branch 100's activity.  You may be right... 

ExNIRSS - I understand your concern in this area. Do you think this will be a bigger mess than the most certain to fall “other shoe” in the VA arena?

Truth,

I don't know...I think it will get ugly and we will be spending hand-holding time as opposed to selling time.  I'm more upset by the "you are our only profit center" line I've been believing for a decade--and passing on to recruits.....

PAY NO ATTENTION TO THAT MAN BEHIND THE CURTAIN, EH?

Sorry for the shouting there, didn't preview the post after I changed the font size...and as we all know...per $3MMHill...size matters.

Priceless....welcome to the Church of the Painful Truth, brother 40! 

Our job will not be done until we can convince guest1 & the other "owners" to honestly assess mother Jones...

Gotta go drink some more kool-aid....

I agree but still...just like the USA there are some changes we would make, but still a great place to live. Spent some time talking to a rep at one of the "other" STL firms. Specifically discussing TF bonds and there is nothing in their coffers to compare in either CY or YTB as what we are carrying now. BUT...as we all know this is about trade offs, they arent' answering free switch letters today either. (Yet)