Jones Pays
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ex EJ posters, could I respectfully request that you try to refrain from posting in large fonts and not go crazy with the Emoticons as both distract from the issues that are near and dear to the rest of us.
Thanks in advance
[quote=compliancejerk]
ex EJ posters, could I respectfully request that you try to refrain from posting in large fonts and not go crazy with the Emoticons as both distract from the issues that are near and dear to the rest of us.
Thanks in advance
[/quote]
compliancejerk,
Here it is, now how about some of you Jones Drones and the Jones Clones start answering questions with FACTS instead of insults?
Here is a FACT, today AIG (6 Bd's, and about 9,500 Brokers) got fined 35 million, as compared to Edward Jones getting fined 75 million, plus Doug "3" Mil Hill Managing General Partner left in shame, did not fall on a sword, was lucky he didn't go to jail, and still the Drones and Clones defend him, why ?
How about and honest answer not an emotional outburst?
Hey, Player dropped the bold print and caps. Now he only seems mildly retarded.
Billy bob long time no hear, shame we woke you up.
You still crack me up!! As for your post, I couldn't agree with you more about player... all I've got ask is how many more of his type do you have your firm ..... unfortunately the vast majority of the IRs are!
Something I've wanted to ask for a while now, and this might be an appropriate time.
We see a significant number of posts from ex-Jones brokers, and it seems a number of Jones brokers who attribute "failure" as the cause for these same ex-Jonsers departure from EDJ. Are there any Jones brokers who were decent producers at other firms on these boards? If so, would you care to share your experiences?
On a larger scale, how many brokers does Jones hire away from someone else vs. how many Jones people are hired away by other firms? How many go indy vs. indies that go to Jones?
Bill Fakkland? BPD?
Well Philo, it was my experience at Jones over 5yrs that very few came over from Merrill, or any other wherehouse. None from AG Edwars which in structure alot like Jones in that they are from St. Louis. Some from Indy like myself who were basically lied to. Jones recruits mostly college grad with no experience in the industry.These people have no idea about what other firms have to offer so are not likely to question the ideaology of the partners. There were a few from Bank of America and other banks. None of the recruits and I mean None were heavy producers with their previous firm. Let me know if you have any other questions.
We have a heavy former producer with AGE as well as a heavy hitter from Merrill. Perhaps our region is a little different…
I've had Jones pitched to me twice now, and I have a good friend in a Jones Office. My current position is that EJ and bank channel are fine for new producers. EJ teaches you prospecting, bank channel gives you a lot or referral activity and handholding. EJ has a limited product line, bank channel is broader, but still leans a bit conservative due to ...well...it's a bank. Interesting, while my Jones friend is relatively happy at this point, he has confirmed several negatives that I've read here...clunky, expensive techology, limited product line, pressure to sell preferred products, etc.
My personal conclusion is that neither one, nor any of the wirehouses are the place to end your career. Sure they provide support, but they exact a heavy price for that support and your freedom is always potentially limited no matter what you think. I'll challenge anyone on either of these two points. The only way that overhead is heavy in an indy office is that the rep wants it that way. Comp plans can and do change as do benefits, etc. Mergers happen, change is a given. Yes, for some, the indepent channel is not attractive, due to the do-it-yourself element, but for the life of me, I can't see where it does not have more positives than any other avenue for experienced reps.
[quote=noggin]We have a heavy former producer with AGE as well as a heavy hitter from Merrill. Perhaps our region is a little different....[/quote]
noogin,
no it's your firm that's wayyy different almost special (ed) type.
[quote=Indyone]
I've had Jones pitched to me twice now, and I have a good friend in a Jones Office. My current position is that EJ and bank channel are fine for new producers. EJ teaches you prospecting, bank channel gives you a lot or referral activity and handholding. EJ has a limited product line, bank channel is broader, but still leans a bit conservative due to ...well...it's a bank. Interesting, while my Jones friend is relatively happy at this point, he has confirmed several negatives that I've read here...clunky, expensive techology, limited product line, pressure to sell preferred products, etc.
My personal conclusion is that neither one, nor any of the wirehouses are the place to end your career. Sure they provide support, but they exact a heavy price for that support and your freedom is always potentially limited no matter what you think. I'll challenge anyone on either of these two points. The only way that overhead is heavy in an indy office is that the rep wants it that way. Comp plans can and do change as do benefits, etc. Mergers happen, change is a given. Yes, for some, the indepent channel is not attractive, due to the do-it-yourself element, but for the life of me, I can't see where it does not have more positives than any other avenue for experienced reps.
[/quote]
Indyone,
Very well said, except for Bill F-up, anyone with a brain can figure Indy is better for the good producer, and as for us x-Jonser's the reason we left was to get paid fairly for what we did, without having some GP getting paid for setting on their 277 in St. Louis.........
I know several in the top 10% at Jones and I am one of them that left, if we are loser's what does that make the rest of the Firm?
Drones or Clones ?
Yeah, right. Player was a top 10% producer at Jones and Al Gore invented the internet.
As any good Democratic lacky will attest: “The Vice President would be
misquoted if some person were to have said He did not not say that he
never said that he invented the internet.” (It is merely coincidental
that the previous statement resembles any talking notes from Putman
contained in a Double-Secret Memo dtd March 15th, 1999 titled “How
raising Transaction Fee’s and Making Contributions to the VP, USA will
serve our Brokerage in the New Millennium (Did you know he invented the
internet? Gee whiz guys!)”
[quote=Bill Fakkland]
Yeah, right. Player was a top 10% producer at Jones and Al Gore invented the internet.
[/quote]
Hey Bill F-up.....................
Would you like to bet your GP or LP on it ?
This I can prove...just to show you talk out of your 277 on here all the time, with NO FACTS.....care to play ?
[quote=Bill Fakkland]
Yeah, right. Player was a top 10% producer at Jones and Al Gore invented the internet.
[/quote]
Hey Bill F-up
How about a 100K on this BS of yours?..........I am so sure that my last year there I probably kicked your ass...take a look around at how many top producers are no longer there....I am one of them, and you opened your big Mouth and stuck your foot in it for the last time.......I will fully disclose who I am and my numbers, if you will do the same for a 100K PRIZE If I am not telling the TRUTH I will write you a check for 100K , However, if my last full year there I was in the top 10% you write me a check for 100K? If, you can?
Care to PLAY with the PLAYER.......................?
Attrition at that level is less than 4%, I hardly doubt that was you… At least you learned to type…
[quote=Guest1]Attrition at that level is less than 4%, I hardly doubt that was you.. At least you learned to type...[/quote]
Guest1,
You must of listen to Doug "3" Mil Hill's video at your Regional Meeting. and if you want to put your comments on this, bring it on, the same 100K Challenge goes to you! I heard from at least 10 IR's, about his comments on the 4% lie, like Edward Jones did nothing wrong.....well spoken from a person that was personally fined 3 Million, forced to resign by years end or go to jail for FRAUD!
You can say anything on here and your Drones and Clones believe it......Put your 100K on the line. Do you have the balls to step-up and write the check?
Guest1 are you just like your FIRM, don't admit it when you are wrong? I know you can't afford this, I challenged you before and you went away like a little girl.............
TIME TO BACK UP YOUR BS................
Old Fort Bragg bank brought back to life by three partners
Thursday, July 07, 2005 -
By FRANK HARTZELL Of the Advocate -
Three former Edward Jones agents have formed a new investment company in a historic bank building in Fort Bragg.
On June 10, Mike Gibson, 32, Dan Catone, 25 and Brad Gardner, 40, launched Redwood Investments at 319 Main St. The three had each run a separate Edward Jones investment office in Fort Bragg until June 10.
Redwood Investments directed the painstaking remodel of the inside of the 1905 bank over the course of several months. The former Coast National Bank had been closed for many years and was last used by the Democratic Party.
Catones wife Jennifer made the fine furniture ranging from a delicate side table to massive office desk. The old vault and other historic features have been restored.
We custom built this to our business, said Catone.
The new firm is part of the Wachovia Securities Financial Network, meaning the three men can now offer not only investments, but banking services as well.
This building is returning to its roots in banking, Catone said.
Catone is the president of the Fort Bragg Rotary Club, Gardner is the president of the Fort Bragg Kiwainis Club and Gibson is on the board of the Mendocino Rotary Club
This is the profession that we have all planned to do for the rest of our careers and this is where we want to do it, said Gibson.
[And] for our vision of the platform we want to offer our services through, this is it.
He said the local nature of Redwood Investments gives them local creative control backed by the strength of Wachovia, the nations fourth-largest bank.
The Friday, June 10 move to launch the new firm brought former Edward Jones local agent Rob Williams back from corporate headquarters in St. Louis to get personnel for the office by that Monday morning. Gardner said the way the three left is the industry standard in the competitive financial trade.
Williams introduced the three men as his replacements two and a half years ago.
We have been here on the coast serving our clients for almost 20 years and we are here now to serve our clients, said Williams, when asked for a reaction to the departures, saying what the three men did was their business.
Williams has hired 10-year Edward Jones veteran Bob Wheat, 49, to run the main Edward Jones office at 422 S. Franklin St. Wheat is relocating from Fortuna. Verna Nailor has the title of senior branch office administrator there.
Joshua Richardson is relocating from Medford, Ore., named to run the Edward Jones office at 550 S. Franklin St. Kathy Shafsky is branch office administrator there.
The third office is closed for now. Williams said people who went to the office at 353 N. Franklin St. should go to the main office at 422 S. Franklin.
There is more than enough business for everybody, Catone said, pointing to the changing demographics of Fort Bragg that features increasing numbers of retirees.
One of the reasons we did this was to be more a part of the community than just an employee of a corporation. We want to be able to support local, community efforts like Art in the Gardens, the recreation district on a local level.
Redwood Investments currently has two employees, Jennifer Catone and Karen Coverston, with more possible in the future.
One of the services Redwood Investments is able to offer is mortgage loans.
If it is involving money, we can probably do it, said Catone.