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B24 View Drop Down
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Originally posted by helado helado wrote:

Originally posted by B24 B24 wrote:


Originally posted by RipRock RipRock wrote:

Whats the #1 Jones guys do $ AUM?


I think he's around $450-500mm.

Keep in mind, these are solo guys that generally serve the mass-affluent.


Can someone verify this? I'm under the impression it's higher than that.

In the 2013 ranking in Forbes, he was #1 FA in North Dakota with $430mm. 
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Sorry, Barron's I think I meant.
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Originally posted by SometimesNowhere SometimesNowhere wrote:

Dude, that guy has to have like 4500 HH. That's fucking stupid.

Less than 1,000
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B24 View Drop Down
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Originally posted by B24 B24 wrote:

Originally posted by SometimesNowhere SometimesNowhere wrote:

Dude, that guy has to have like 4500 HH. That's fucking stupid.

Less than 1,000

Oh, and I think he's under 40.
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What is the definition of a household at Edward Jones? $1000/ a family?
"Don't throw your pearls to the pigs."
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Originally posted by RichMexican_ RichMexican_ wrote:

What is the definition of a household at Edward Jones? $1000/ a family?


Any account where 3 out of 4 things are different than another acct. I think it's last name, address, SSN, and something else but don't quote me on those.

No $ minimum. But I'm pretty sure it does have to be invested to count.
knock knock. who's there? you're new financial advisor
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Originally posted by B24 B24 wrote:

Originally posted by B24 B24 wrote:

Originally posted by SometimesNowhere SometimesNowhere wrote:

Dude, that guy has to have like 4500 HH. That's fucking stupid.

Less than 1,000

Oh, and I think he's under 40.

His dad also sent all of his life insurance clients to him.
8/31/12,Sportsfreak:
"If Barak wins this election, or appears to be clearly winning, we are all fucked. Market will tank big time."
Dow 13,090 S&P 1406
5/23/13 UC:Dow 20k before 20% crrectn Dow 15,
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Originally posted by RichMexican_ RichMexican_ wrote:

What is the definition of a household at Edward Jones? $1000/ a family?


See? This is the kind of condescending bullshit that you say that really gets under my skin.

You sit in a call center / bank branch and get handed leads and the large majority of your earnings is salary.

Yet, you're going to rag on EDJ because of their low average household size? Like them or not, those dudes are out hustling and bustling and learning to hunt and kill on their own, while you "learn" how to be a licensed order taker.

Get your head out of your ass.

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Originally posted by helado helado wrote:

Originally posted by RichMexican_ RichMexican_ wrote:

What is the definition of a household at Edward Jones? $1000/ a family?


See? This is the kind of condescending bullshit that you say that really gets under my skin.

You sit in a call center / bank branch and get handed leads and the large majority of your earnings is salary.

Yet, you're going to rag on EDJ because of their low average household size? Like them or not, those dudes are out hustling and bustling and learning to hunt and kill on their own, while you "learn" how to be a licensed order taker.

Get your head out of your ass.


Ha, my buddy at ML had a list of his clients that he forwarded to the managing director to credit their accounts $600 since they are all receiving the latest Edge promo and its being sent to all his current clients. The mood at old ML is pretty shitty and I think they all hate the call center pukes.
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Originally posted by helado helado wrote:

Originally posted by B24 B24 wrote:


Originally posted by RipRock RipRock wrote:

Whats the #1 Jones guys do $ AUM?


I think he's around $450-500mm.

Keep in mind, these are solo guys that generally serve the mass-affluent.


Can someone verify this? I'm under the impression it's higher than that.


Its in excess of 800 million from what I last heard from a friend with Jones in St louis. I think the Dakota guy is the largest producer not the largest AUM. He did over 5 million gross production as a lone producer. Not sure if any of his 4 admins or whatever amount of assistants jones gives them at that production, are licensed but even if so they can only accept unsolicited orders and dont produce. Not bad for a solo ptoducer even as a guy at Jones that is. Wonder what his story is...

Edited by Threefree - May/15/2015 at 2:31pm
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RichMexican_ View Drop Down
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Originally posted by jtp jtp wrote:

Originally posted by RichMexican_ RichMexican_ wrote:

What is the definition of a household at Edward Jones? $1000/ a family?


Any account where 3 out of 4 things are different than another acct. I think it's last name, address, SSN, and something else but don't quote me on those.

No $ minimum. But I'm pretty sure it does have to be invested to count.


Nice.
"Don't throw your pearls to the pigs."
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Originally posted by helado helado wrote:

Originally posted by RichMexican_ RichMexican_ wrote:

What is the definition of a household at Edward Jones? $1000/ a family?


See? This is the kind of condescending bullshit that you say that really gets under my skin.

You sit in a call center / bank branch and get handed leads and the large majority of your earnings is salary.

Yet, you're going to rag on EDJ because of their low average household size? Like them or not, those dudes are out hustling and bustling and learning to hunt and kill on their own, while you "learn" how to be a licensed order taker.

Get your head out of your ass.



Well somebody woke up on the wrong side of the bed. Remember don't hate the player hate the game. It was actually an honest question.
"Don't throw your pearls to the pigs."
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Guests Quote  Post ReplyReply Direct Link To This Post Posted: May/15/2015 at 3:34pm
Don't mistake what side of the bed I get up on for you just acting like a twat.
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Sportsfreak View Drop Down
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Actually, Helado was being very nice. Relatively speaking of course.
If you eat an entire cake without cutting it, then technically, you only had one piece
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I've never seen a newbie intro thread before that's gone 4 pages, 72 posts. This dude, Profound, has a future, let me tell you
If you eat an entire cake without cutting it, then technically, you only had one piece
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I have a hard time believing there is much you haven't seen, Methuselah.
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Originally posted by RichMexican_ RichMexican_ wrote:

Originally posted by Profound Profound wrote:




Originally posted by B24 B24 wrote:


Originally posted by City1134 City1134 wrote:

Get the "love the market" thing out of your head. If you do it right it will be five years until your actually adding value by your market knowledge. Go for this because you are accepting of what the lifestyle will look like, if you make it but more importantly those first five years where you'll likely not make much, burn through whatever savings you may have and miss a lot of family time. If you're truly okay with that, and so is your wife, then go for it. If you're not up for the risk you're probably better off getting a masters or something and try to go into administration.


If he works at Jones (and makes it), I don't think his income will go down much from what he's making now. He's making $45K. I think I made close to that my first (full) year like 8 years ago, and I did average. And the new-hire compensation is better now than it was then.

If you make much less than $40K your first year, it probably means you won't make it.


Is there any negotiation of first year salary or is it set in stone?  Not until I talked to the regional manager yesterday did I have these fears.  I don't know if it was his intent to tear me down but I felt bad.

My whole thing was in the beginning if I knock on the doors and they only have $2,000 to invest I take it so I can build up clients and referrals.  He told me not to waste my time when them and that I need to go for the big fish.  I get that eventually, but in the beginning don't I want to add whatever numbers I can?  

I understand that eventually I would be overworking myself if I add 200 households who only bring $1,000 a piece.  He also told me I need to think outside the box and how to get clients but every FA I talked to told me to just stick to the Edward Jones motto because that is what works.  Basically he told me the exact opposite of what everyone else told me and I am now somewhat concerned and confused. 


Also, sorry I can't get my love for the market out of my head.  I have to be passionate about what I am selling. 






It seems to me that your manager is a snake in the grass that wants you to bring in big accounts so he can keep them once you fail. UBS will train you from scratch, work as an analyst then an F.A. Two year salary. Limited positions but search for them.

a "wealth planning" analyst (A term they coined, I believe).  I don't think it would be a job at all like a financial analyst, more like a planning-specific role.  

Although I'm not really sure what a financial analyst does anyway.  

That said, I think UBS is the best way to start in the business from scratch if you can get a spot there.  They coddle you for a full 2 years before you have to begin producing.  Anywhere else is something like ~7 months if I'm not mistaken.



Edited by NowhereMan - May/15/2015 at 7:08pm
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RichMexican_ View Drop Down
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Originally posted by Sportsfreak Sportsfreak wrote:

Actually, Helado was being very nice. Relatively speaking of course.


He has a love hate relationship for Mexicans.

Edited by RichMexican_ - May/15/2015 at 7:38pm
"Don't throw your pearls to the pigs."
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RichMexican_ View Drop Down
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Originally posted by NowhereMan NowhereMan wrote:




Originally posted by RichMexican_ RichMexican_ wrote:

Originally posted by Profound Profound wrote:




Originally posted by B24 B24 wrote:


Originally posted by City1134 City1134 wrote:

Get the "love the market" thing out of your head. If you do it right it will be five years until your actually adding value by your market knowledge. Go for this because you are accepting of what the lifestyle will look like, if you make it but more importantly those first five years where you'll likely not make much, burn through whatever savings you may have and miss a lot of family time. If you're truly okay with that, and so is your wife, then go for it. If you're not up for the risk you're probably better off getting a masters or something and try to go into administration.


If he works at Jones (and makes it), I don't think his income will go down much from what he's making now. He's making $45K. I think I made close to that my first (full) year like 8 years ago, and I did average. And the new-hire compensation is better now than it was then.

If you make much less than $40K your first year, it probably means you won't make it.


Is there any negotiation of first year salary or is it set in stone?  Not until I talked to the regional manager yesterday did I have these fears.  I don't know if it was his intent to tear me down but I felt bad.

My whole thing was in the beginning if I knock on the doors and they only have $2,000 to invest I take it so I can build up clients and referrals.  He told me not to waste my time when them and that I need to go for the big fish.  I get that eventually, but in the beginning don't I want to add whatever numbers I can?  

I understand that eventually I would be overworking myself if I add 200 households who only bring $1,000 a piece.  He also told me I need to think outside the box and how to get clients but every FA I talked to told me to just stick to the Edward Jones motto because that is what works.  Basically he told me the exact opposite of what everyone else told me and I am now somewhat concerned and confused. 


Also, sorry I can't get my love for the market out of my head.  I have to be passionate about what I am selling. 






It seems to me that your manager is a snake in the grass that wants you to bring in big accounts so he can keep them once you fail. UBS will train you from scratch, work as an analyst then an F.A. Two year salary. Limited positions but search for them.


a "wealth planning" analyst (A term they coined, I believe).  I don't think it would be a job at all like a financial analyst, more like a planning-specific role.  

Although I'm not really sure what a financial analyst does anyway.  

That said, I think UBS is the best way to start in the business from scratch if you can get a spot there.  They coddle you for a full 2 years before you have to begin producing.  Anywhere else is something like ~7 months if I'm not mistaken.





Looks like a good gig. I would have started there versus the other Wire I started at.
"Don't throw your pearls to the pigs."
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A love of the market?!.............ahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahaha.""..................



Ahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahaha.
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