So long, mr weddle
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What part of the financial planning process are we missing at Jones? What can you do that I can’t?
I'll tell you what I think I'm missing right now: 1) a fee based platform that lets me work with more than just funds 2) A Monte Carlo tool for future projections Both of those are going to be dealt with sooner or later. Monte Carlo tool is coming on line early next year. The fee based platform they have told us is coming will be a step in the right direction. You keep telling me I don't know what I'm missing. Please, tell me and Max what we don't know. I'd love to know how a real financial planning firm works.[quote=Spaceman Spiff]What part of the financial planning process are we missing at Jones? What can you do that I can’t?
I'll tell you what I think I'm missing right now: 1) a fee based platform that lets me work with more than just funds 2) A Monte Carlo tool for future projections Both of those are going to be dealt with sooner or later. Monte Carlo tool is coming on line early next year. The fee based platform they have told us is coming will be a step in the right direction. You keep telling me I don't know what I'm missing. Please, tell me and Max what we don't know. I'd love to know how a real financial planning firm works. [/quote] You're quite right Spiff...my mistake. You know everything and have everything that everyone else has. Enjoy the view from the top.I just did...You won't believe anything else anyway.Nice comeback. How about answering the question.
Get to work Spiffy. You can’t make any money on here…oops…unless you can dial and type. My bad…WHat are you calling on today Spiff. CIT bonds, GMAC’s, Household Bonds, anyother mortgage bonds you pushin to the retirees…
No, today was $900K in rollovers.
Philo - I'm serious. You guys are quick to tell us how much Jones sucks. You tell me I don't have a financial planning part to my business. I'm wondering what the heck all these reports I keep printing are for then. What about all those meetings I've had with clients to discuss their plans and goals? I guess I should be thanking you. Evidenlty I don't have the ability to do any financial planning, so I should stop wasting my precious time on it. That gives more that many more hours each day to call people on the new 4.5% AAA 30 year muni @ 3 points. C'mon. Prove to me that I'm wrong. That whereever you are is soooo much better than EDJ.BTW I'm not talking about revenue sharing or GPs pay or any of that other crap that doesn't matter to clients. I'm talking about where the rubber meets the road. What am I missing?
Where did I say Jones sucks? Where did I say anything about revenue sharing and GPs?
What I did say is that if you’re happy at Jones, then I’m happy for you. You, on the other hand, have jumped to defense and claimed you had everything as good as anyone else. All I did was agree with you.
Look, I don’t have a dog in this fight. I asked some questions about the Jones business model and all I get is grief and insults from you creeps. Get a grip, will you?
Would this be a good time for me to make the usual crack about the Jones office in the strip mall wedged between the dry cleaners and the Subway? How about one making fun of cold walking and how it debases the entire industry (and that’s no small feat)?
I'm sorry, that's cheap and I just can't help myself. I'm sure there are some great people laboring at Jones, and it really does make me more than a little sad to see the blur of FA rotations through some of the strip mall locations.My old office has had 3 people in the rotation since I left (first of 07). They now have a new new out dking....I've been driving around at lunch to see if I can get a picture to post...stay tuned.
Mike - those things have nothing to do with the comment about not having a finanical planning ability. I'd argue that cold calling debases the entire industry. But that's for another thread.
Funny though. The two largest offices in my region (both over $100 million) are in strip malls. One is next to a Subway. The other is next to a dry cleaners. I want a real answer from Philo, spears, spiked, foot, et al.[quote=Spaceman Spiff]
Mike - those things have nothing to do with the comment about not having a finanical planning ability. I’d argue that cold calling debases the entire industry. But that’s for another thread.
Funny though. The two largest offices in my region (both over $100 million) are in strip malls. One is next to a Subway. The other is next to a dry cleaners.
I want a real answer from Philo, spears, spiked, foot, et al. [/quote]
You’ve HAD your ‘real answer’, and as simple as I can make it. I can’t help it if you don’t like the answer.
Just curious, Do Jones reps have series 66 licenses? I was under the impression that they don’t. Also, if they don’t, then they can’t actually charge a fee for a financial plan, or document financial advice, correct? But I suppose if the fee accounts are going to be a reality, then everyone will need to get 66’s anyway? Just trying to clear up any misconceptions I may have.
For the record, I don't bash Jones guys (or other firms) to clients. If I'm competing against them I may say something about how they don't focus on financial planning the way my office does, or something about my credentials, but follow it up with "but I think they're a fine firm". I never say anything nasty about the competition to clients, it's a turn off to me when I'm on the other side of the table.Big Taco…I say…“They’re the best trained salespeople in the industry.” It makes its own point.
Yes, everyone who lives in a state that requires the 66 to be an “advisor” has it.
Taco - Thanks for the remarks. Maybe you can answer the question better than the others. When you tell your prospects that Jones doesn't focus on financial planning the way your office does, what does that mean? What info do you gather from them that you believe Jones FAs don't? What reports are generated from that info? What services do you provide that you believe Jones FAs don't? Nobody is ever going to convince me to jump anywhere else unless they tell me why the grass actually is greener on the other side.Spiff, I don’t see that anyone is trying to get you to jump anywhere. However, you’ve made the statement that you have tools as good as everyone else. Have you taken the time to stop in a Merrill or MS office to see what they’ve got? I don’t think so, or you wouldn’t make those kinds of statements.
I’m continually mystified when I see you Jones people take the same combative stance when there’s no reason to.
No, I haven't been to the local Morgan or Merrill office to ask them about their planning tools. And I'm not going to. That's why I'm asking you folks. I'm sure they've got great tools. I'm curious if they are any better than the ones I have on my desktop. If anyone can answer that I'd appreciate it.