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Delbs View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Delbs Quote  Post ReplyReply Direct Link To This Post Posted: Sep/08/2021 at 3:41pm
Originally posted by bc2051 bc2051 wrote:

Originally posted by B24 B24 wrote:

Originally posted by bc2051 bc2051 wrote:

One more point, the max that can go to an advisor now is 100 mil where you still get paid.  That number will likely increase over time

You mean, if you give away $125M to an advisor, the retiring advisor only gets paid on $100M of it?

Supposedly, but it's gray like all things at Jones.  There have been a couple of big producers quit, when they couldn't give their kid their entire book

I think Delbs knows of specific examples: big book, small town, and the advisor is paid on the entire thing because there is just no advisors to take it

You still get paid, just less if you leave more than $100mm to one advisor. Exceptions do apply. Also, there is a meeting in mid-October where the new RTP rules/guidelines should start to be released to the field. 
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Post Options Post Options   Thanks (0) Thanks(0)   Quote missionshooter Quote  Post ReplyReply Direct Link To This Post Posted: Sep/08/2021 at 3:44pm
.......

Edited by missionshooter - Sep/08/2021 at 3:46pm
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Post Options Post Options   Thanks (0) Thanks(0)   Quote richchick Quote  Post ReplyReply Direct Link To This Post Posted: Sep/25/2021 at 1:15am
Thanks for the replies. Yes it is my understanding that if I stay with EJ I will basically have to find my own successors and will be financially penalized if I don’t split the book up between several brokers. If my next 10-15 years is anything like my last 10 years it will be a several hundred million dollar book. Also I once had aspiration to be an RL/GP but now I’m burnt out on leadership and not interested in that path. I’m grateful for the training and support I received in the early years at EJ but they will be taking hundreds of thousands (millions?) of my future revenue when I feel like I could be successful RIA. And very appealing that I could take a check and walk away someday vs the current EJ retirement structure. 
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Delbs Quote  Post ReplyReply Direct Link To This Post Posted: Sep/25/2021 at 9:52am
Originally posted by richchick richchick wrote:

Thanks for the replies. Yes it is my understanding that if I stay with EJ I will basically have to find my own successors and will be financially penalized if I don’t split the book up between several brokers. If my next 10-15 years is anything like my last 10 years it will be a several hundred million dollar book. Also I once had aspiration to be an RL/GP but now I’m burnt out on leadership and not interested in that path. I’m grateful for the training and support I received in the early years at EJ but they will be taking hundreds of thousands (millions?) of my future revenue when I feel like I could be successful RIA. And very appealing that I could take a check and walk away someday vs the current EJ retirement structure. 

I would agree with your thoughts. The new retirement transition plans details will be out within the next month. I think it will be better, but still no where near what other firms offer. 
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Post Options Post Options   Thanks (0) Thanks(0)   Quote HCCWManager Quote  Post ReplyReply Direct Link To This Post Posted: Sep/25/2021 at 10:12am
I see this as a real miss by EJ. They have funds, they know the numbers, if they would just open the purse strings and pay close to market rate for the RTP, they would net positive. Especially since they want to split the book up and the newer advisors will grow. Its also a great opportunity to partner with veterans and use the book to bring over middle of the pack warehouse and indy guys who would like to double their book and recruit them accordingly. Big miss by the GPs and very short sighted not to go all in with this "enhancement". Interested to hear the details. Same with the new GK plans and the new Joint Venture Service Partner items. At least Jones is getting better, but seems still far too slow. 
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Post Options Post Options   Thanks (0) Thanks(0)   Quote B24 Quote  Post ReplyReply Direct Link To This Post Posted: Sep/25/2021 at 10:21am
Originally posted by HCCWManager HCCWManager wrote:

I see this as a real miss by EJ. They have funds, they know the numbers, if they would just open the purse strings and pay close to market rate for the RTP, they would net positive. Especially since they want to split the book up and the newer advisors will grow. Its also a great opportunity to partner with veterans and use the book to bring over middle of the pack warehouse and indy guys who would like to double their book and recruit them accordingly. Big miss by the GPs and very short sighted not to go all in with this "enhancement". Interested to hear the details. Same with the new GK plans and the new Joint Venture Service Partner items. At least Jones is getting better, but seems still far too slow. 

I think Jones banks on the fact that by the time someone is 20+ years into their career at Jones, they don't want the hassle of moving, and know that they will retire with Jones.

This is how all captive firms work...take as much as you can until you think you'll get more pushback than it is costing you already.

Jones has an amazing opportunity as a private partnership to make their advisors very, very sticky. But they seem to be losing focus on that. I've always said, the bigger they get, the harder it is going be to remain a partnership. And I think you are starting to see that.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote freebird Quote  Post ReplyReply Direct Link To This Post Posted: Sep/25/2021 at 10:58am
There’s not a person here who has said look what Jones is doing, I should think about going back. I left 2 years ago and should have left before that. Stay and get in line or make the jump 
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Nathan Explosion Quote  Post ReplyReply Direct Link To This Post Posted: Sep/25/2021 at 11:08am
Originally posted by B24 B24 wrote:

Originally posted by HCCWManager HCCWManager wrote:

I see this as a real miss by EJ. They have funds, they know the numbers, if they would just open the purse strings and pay close to market rate for the RTP, they would net positive. Especially since they want to split the book up and the newer advisors will grow. Its also a great opportunity to partner with veterans and use the book to bring over middle of the pack warehouse and indy guys who would like to double their book and recruit them accordingly. Big miss by the GPs and very short sighted not to go all in with this "enhancement". Interested to hear the details. Same with the new GK plans and the new Joint Venture Service Partner items. At least Jones is getting better, but seems still far too slow. 

I think Jones banks on the fact that by the time someone is 20+ years into their career at Jones, they don't want the hassle of moving, and know that they will retire with Jones.

This is how all captive firms work...take as much as you can until you think you'll get more pushback than it is costing you already.

Jones has an amazing opportunity as a private partnership to make their advisors very, very sticky. But they seem to be losing focus on that. I've always said, the bigger they get, the harder it is going be to remain a partnership. And I think you are starting to see that.

had lunch with another greenie yesterday.....he seems to think we will go public t some point....they partnership and its returns and structure really was built on recruiting and adding FAs.....thats over.  GPs cashing in while they can.....i don't see it.  But the rules and restrictions for bringing on a a successor and making them stick is a big problem......Jones has become a bureaucratic mess.   
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Hacksaw Quote  Post ReplyReply Direct Link To This Post Posted: Sep/25/2021 at 4:51pm
Originally posted by Delbs Delbs wrote:

Originally posted by richchick richchick wrote:

Thanks for the replies. Yes it is my understanding that if I stay with EJ I will basically have to find my own successors and will be financially penalized if I don’t split the book up between several brokers. If my next 10-15 years is anything like my last 10 years it will be a several hundred million dollar book. Also I once had aspiration to be an RL/GP but now I’m burnt out on leadership and not interested in that path. I’m grateful for the training and support I received in the early years at EJ but they will be taking hundreds of thousands (millions?) of my future revenue when I feel like I could be successful RIA. And very appealing that I could take a check and walk away someday vs the current EJ retirement structure. 

I would agree with your thoughts. The new retirement transition plans details will be out within the next month. I think it will be better, but still no where near what other firms offer. 

Delbs - would you (or someone else at Jones) mind posting it here when it does come out?  
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