Guest1,

Wait up, hoss.....CIB has it right....everything goes to a house account with the retiree getting credited with 70/50/30% of the production....NOW, take your 38% payout from that figure to get your "generous package" from EDJ.  As a bonus, in yr 4, vet gets 15% of the branch's NET production as a "consulting fee"

$1,000,000 producing office:

Yr 1  $264k (700k @ 38%)

Yr 2  $190k

Yr 3  $114k

Yr 4  $57k (380k @ 15%)

       $625k total payout over 4 yrs

That is less than half of what indy books are selling for--even if it takes 4 yrs!  While I've never sold a book, I doubt it would require sticking around for 4 years--could be wrong, though.

I'd be curious what other vets think of this....top producers I've spoken to aren't overly impressed, but they like the fact that firm is setting up a formal policy...seems like a step in the right direction.

With the newir package, it is basically a win win for the newir and
Jones.  There is a lot more too it than what has been
mentioned.  New IRs that do well, will definately make more on the
new system…as they should.  Meanwhile, EJ doesn’t have to pay
the new IRs that are struggling as much.  Although the pay starts
@ $2800/mo it is reduced quite drastically every 4 months.  I
don’t remember the exact numbers but the salary actually is LESS than
what it was before.  However, if you stay @ 100% of standard for
the first 15 months then the bonuses you get would be more. 



Also, as far as the new account bonuses (actually shoud be new
household bonuses) go you don’t get anything until you have opened your
5th household for the month, then you get $500.  Also, now, in
order for a household to qualify for a bonus, there has to be a single
deposit of $10,000 into one account or a single trade that creates a
$100 gross commission. 



Like I said before, it seems like a win win situation for new IRs and
Jones.  If you do well you will make more.  If you do poorly
(and probably end up quiting) then Jones didn’t spend as much money on
you.



I will definately consider switching to the new system once it becomes eligible to me in November.

Oh, by the way, I also love the new Retirement program!  I think
it is a great deal!  If there is anyone that wants to retire, let
me know, I would be more than happy to participate! 

[quote=Guest1]Zacko, call one of your pals and get a copy of it before you comment. It is a significant change that puts the hiring wage there with the larger warehouses (what does RJFS pay new hires? Oh yeah, they don't). There were also commission increases and the retirement plan is every bit as good as the indies cry " I can sell my book" but takes away a lot of the problems with "selling your book" You are way off on you trip costs, and you know it. Price the trip to Africa that I am going on, now do it for $3000 for two. You can't. (Good job on T.K. though)[/quote]

Guest1,  as usual you are full of your self and have your head up your 277..............GP's will not give up their slave system called IR's..that do the training, supervision, recruiting, all for the promise of LP, or the big one the GP by the way how much did it cost the profitable IR to pay the SEC FINES?   But, then again Guest1 believes in a free lunch......

Do you know what GP stands for?  Greedy Prick 

If your production is 50% of what you say on here, you should go INDY, with the extra compensation I take a vacation every quarter, and my cost is a lot less then it ever was at Jones....you tell Zacko to check his facts........but you know he is right on target.

Try doing a Financial Plan for yourself and your family, if you have one?

Is it the Quality of Life or the security of Edward Jones that is most important to you?   

Is the GP's Quality of life more important than yours?

Answer those 2 questions and grasshopper you will see the light.....

Don't settle for hamburger when you can have steak....