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Raymond james, EDJ, or Cambridge?

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rockandtrail View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote rockandtrail Quote  Post ReplyReply Direct Link To This Post Posted: Dec/21/2021 at 6:17pm
Thank you all!!! It’s helped greatly. I was leaning towards EDJ for brand name and Cambridge because I thought I’d fit the cultures at them both a little better but seems like RJ has the best long term options.  Will advise when I’ve signed on the line where I wound up with. Thank you again. Seriously helped. 
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Post Options Post Options   Thanks (0) Thanks(0)   Quote rockandtrail Quote  Post ReplyReply Direct Link To This Post Posted: Dec/21/2021 at 7:05pm
One more question. So if I somehow failed RJ amp production levels I’d get to keep my book, vs EDJ, it’s theirs? 
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Iamlegend Quote  Post ReplyReply Direct Link To This Post Posted: Dec/21/2021 at 7:08pm
Originally posted by rockandtrail rockandtrail wrote:

One more question. So if I somehow failed RJ amp production levels I’d get to keep my book, vs EDJ, it’s theirs? 

At Jones they would go after your book and try to keep it. 
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Post Options Post Options   Thanks (0) Thanks(0)   Quote HCCWManager Quote  Post ReplyReply Direct Link To This Post Posted: Dec/21/2021 at 10:11pm
Your shot at inheriting a bigger book at Jones has never been higher. They simply don’t have the newbies available anymore to backfill offices for retiring advisors etc and they won’t let the big books go al to one person without a big disadvantage to the veteran so your biggest leg up is gonna be EJ. RJ though is a solid firm that will train too. But any of them will take you if you prove yourselves at any of the others. However EJ and Cambridge will take you if you fail at RJ
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Post Options Post Options   Thanks (0) Thanks(0)   Quote EJ555 Quote  Post ReplyReply Direct Link To This Post Posted: Dec/21/2021 at 11:12pm
Originally posted by Delbs Delbs wrote:

Originally posted by rockandtrail rockandtrail wrote:

I’ve been told at least 5 million but nothing in writing yet 

That’s not much. 


Don't go to Edward Jones for less than $25 million. The performance standards will be higher but you want a book that'll be profitable or close to it. If I knew then what I know now I wouldn't have agreed to less than $50 million. I received $25 million from a retiring advisor and it was almost all trash, old mutual fund accounts and annuities that couldn't be moved to connection when that came out. I came from a bank with a good business network and never had a problem hitting asset goals but all the same wish I had taken a different offer. The goodknight wasn't worth the headaches and hassles. $5 million is a waste of your time.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote rockandtrail Quote  Post ReplyReply Direct Link To This Post Posted: Dec/21/2021 at 11:26pm
Thank you both! Good points on retiring advisors as well as the goodnight amounts. Do they allow bargaining since they are short on newer advisors? Maybe I’d have some bargaining power with them if that’s the case? I have a great network but every little bit helps. Especially if I can possibly get much more than 5 million. 
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Post Options Post Options   Thanks (0) Thanks(0)   Quote EJ555 Quote  Post ReplyReply Direct Link To This Post Posted: Dec/21/2021 at 11:29pm
Originally posted by rockandtrail rockandtrail wrote:

Thank you both! Good points on retiring advisors as well as the goodnight amounts. Do they allow bargaining since they are short on newer advisors? Maybe I’d have some bargaining power with them if that’s the case? I have a great network but every little bit helps. Especially if I can possibly get much more than 5 million. 


That depends on the needs and office makeup of the region. If that region doesn't have any retiring advisors or large offices willing to part with a big goodknight then you have nothing to go for there and would probably be better off looking at the Raymond James or Cambridge offer.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote HCCWManager Quote  Post ReplyReply Direct Link To This Post Posted: Dec/22/2021 at 8:32am
Originally posted by rockandtrail rockandtrail wrote:

Thank you both! Good points on retiring advisors as well as the goodnight amounts. Do they allow bargaining since they are short on newer advisors? Maybe I’d have some bargaining power with them if that’s the case? I have a great network but every little bit helps. Especially if I can possibly get much more than 5 million. 

Finish the entire hiring process and let them know what you are looking for before you sign the offer letter. They can then keep you in mind for open opportunities. The problem is Edward Jones is uniform though so you couldn’t officially get the office unless you have each of the licenses they require and are onboarded. That’s an issue since you don’t have their 7/65&63 or 7/66 plus insurance licenses ready to go so you’d have to get those before you could take over an office or assets. And sometimes they want to backfill those offices sooner rather than later. That’s the gamble you take with Jones but the odds are very much in your favor. 

Go with the company who you feel best about. RJ and Cambridge are great but every office just like at Jones is gonna have different people and personalities. Meet other advisors and managers OSJs -‘d Regional Leaders etc at whatever firms you are considering and ask to meet with the person at Jones who you are being considered as a GK for and don’t be afraid to ask how much they are thinking and the types of clients, they may open up to you about it but be tactful. I didn’t get some big goodknight nor did I inherit an office, but I’ve given plenty in assets away and I started about 12 years ago from scratch with no network and make an incredible living and work life balance. If you come to Jones and are doing well and happen to hit a little luck timing wise you will probably take over some significant assets. Even in my day I turned down two offices that were very large (100 million dollar books) because of pride and the distance (different states each time) and get I still made it but nowadays EVERYONE gets SOMETHING and most get a good chunk.  At the end of the day if you are meant for this business and have the network you state, you’ll make it anywhere. 

At Jones they are going to try to hold out the really big books for internal candidates or licensed advisors with a decent book of business to bring over though. 
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Post Options Post Options   Thanks (0) Thanks(0)   Quote freebird Quote  Post ReplyReply Direct Link To This Post Posted: Dec/22/2021 at 9:08am
What is this great training I hear about at Jones these days? I heard it’s just a bunch a LinkedIn that doesn’t work
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Post Options Post Options   Thanks (0) Thanks(0)   Quote CashFlow Quote  Post ReplyReply Direct Link To This Post Posted: Dec/22/2021 at 10:51am
Remember at Jones you do not own your book!  They will go after you if you leave. Then you have to sell at retirement at their goofy standards. In your shoes I wouldn’t start fresh there unless they gave you at bare minimum 50 million and yet most of that will be trash nobody wants.  There investment models are very average and you very little control in how you build it.  Go in with your eyes wide open and then if you decide to go there you had better close them half way.  
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Post Options Post Options   Thanks (0) Thanks(0)   Quote freebird Quote  Post ReplyReply Direct Link To This Post Posted: Dec/22/2021 at 11:12am
50 million LOL

That might be more than the average here 

Let’s stop pretending this dude is the next Ken fisher. He has 0 assets. Not trying to be a dick, but I’m surprised he has 3 options in a pandemic 
CLAB on bitcoin on 10-20-21:
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Post Options Post Options   Thanks (0) Thanks(0)   Quote rockandtrail Quote  Post ReplyReply Direct Link To This Post Posted: Dec/22/2021 at 11:42am
Lmao….. thanks….that’s definitely true though.  I’m extremely lucky to have these !  If I was younger it wouldn’t matter as much, but wanna do my best the first time . I’m Working on getting 65 before I start to hopefully get going quicker  I had a 7, 20 plus years ago but had a horrible intro to the industry by working for a married couple as a sales assistant…..I’m retiring from LE and am going to build a business until it’s time to actually really retire. Very excited to start a new chapter. Thanks again for excellent insight. 
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Post Options Post Options   Thanks (0) Thanks(0)   Quote CashFlow Quote  Post ReplyReply Direct Link To This Post Posted: Dec/22/2021 at 11:48am
Originally posted by freebird freebird wrote:

50 million LOL

That might be more than the average here 

Let’s stop pretending this dude is the next Ken fisher. He has 0 assets. Not trying to be a dick, but I’m surprised he has 3 options in a pandemic 

Great point!   
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Post Options Post Options   Thanks (0) Thanks(0)   Quote luvindy Quote  Post ReplyReply Direct Link To This Post Posted: Dec/22/2021 at 12:52pm
Originally posted by rockandtrail rockandtrail wrote:

Lmao….. thanks….that’s definitely true though.  I’m extremely lucky to have these !  If I was younger it wouldn’t matter as much, but wanna do my best the first time . I’m Working on getting 65 before I start to hopefully get going quicker  I had a 7, 20 plus years ago but had a horrible intro to the industry by working for a married couple as a sales assistant…..I’m retiring from LE and am going to build a business until it’s time to actually really retire. Very excited to start a new chapter. Thanks again for excellent insight. 

You sound equally motivated to everyone else that is trying to sell themselves on why they should get a better deal than others.


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