After 8 yrs, sold my practice with a captive agent model company so I could move across country. I’m deep in the interview process with both EdJones and MLynch. Which of these 2 would you choose?

likehelpful
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Question: what did you guys eat for Dinner?
Fishbowl: go Indy, every BD sucks. Indy Rules. Lol. Indy advisors are like weird cult people.

likefunny

I’ll make my plug; not everyone wants out of the B/D channel. In my humble opinion, the independent channel really requires someone who seeks complete autonomy and is truly entrepreneurial at their core. In my experience I’ve realized and would argue most advisors aren’t entrepreneurial. The B/D channel takes a lot of the onus off the advisor and they are doing so at a cost. Ultimately, I don’t think it comes down to payout or how much more money an FA can make; I believe it comes down to personality and preference. Different channels exist because there is still a demand for variation - makes the world spin. Go Indy, sure if that’s what you’d like; go B/D, sure if that’s what you’d like; be an advisor or work construction, sure, if that’s what you’d like. Choice, variation and differences are what make this world a little less boring.

likesmart

You morons. FA2 and FA3, he didn’t ask you about going Indy. Listen for once in your life and get your head out of your rear end.

If you can’t answer the question, then don’t waste the characters in typing a response. Geez....

likefunny

Neither! You don’t run your own show at EJ, you do what you are allowed to do by the GP’s. Kept on a short leash with a message dictated by the HO

likesmart

I didn’t say anything about going Indy. I did answer his question, you just didn’t like the answer. At some point you will realize the lack of peer knowledge you have. Jones keeps you in a silo so you have to hear their approved message and not see what else is out there. When is the last time you went to an event not filled with only Jones people. My experience there was never and I bet the same for you. Brilliant business model cause it keeps you all in group think and controlled. Not a moron just aware of what is out here is the big world. Keep casting stones and drinking kool aid.

likesmart

I’m w EJ and a close friend of mine is w ML. We both like where we’re at and there are obvious benefits and shortcomings to both. EJ is a newer brand to the FL market - growing the firm by 8% in that state alone. ML is prob more established in that market. I think it comes down to asset opportunity. No teaming w EJ (yet, if ever), payouts can be higher w is due to profit sharing and partnership etc. I personally like the single advisor ofc. If you want to connect and get more info I’m happy to help.

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EJ1, you are hilarious. Blasting a company is listing truisms learned over 17 years at firm? Calling the business model brilliant is blasting? Wow,
Imagine when someone actually says negative stuff about Jones, you must curl up in a ball in the corner
I left on my own terms, took 90%+ percent of the assets I wanted.

Tell me how you are “independent” at jones when your options are controlled from STL? Models on Guided solutions...Not allowed. Ads you design...not allowed. Not using word power...takes an act of God. Getting support from STL designing your custom ports for each account...not gonna happen, they won’t take the risk. Being independent and identifying you in any way that takes away from highlighting just EJ...not gonna happen.

What drives me nuts is EJones people that can’t see the forest thru the trees. When you have a perspective other than the one you had been told to have then feel free to come back.

You may be a great advisor at Jones, never said you couldn’t be, but don’t call yourself independent or act like everyone who has something other than praise for Jones is a jilted ex FA.

Why the kool aid line? Cause it is so damn true. Every wholesaler presentation is vetted by Jones, they are never allowed to mix Jones FA’s with other firms FA’s per JONES.

You wonder why people diss on Jones? Cause of pompous fools like yourself.

Someday you may actually be able to see all the facets of this business, until then why don’t you just ask STL what you should say.

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Neither. Go independent and own your book.

likesmart

Once again someone asking a question having nothing to do with going Indy. Always the answer though 🤦🏻‍♂️ I move from Jones to ML and jones actually just hired me back. Hated ML but thats just me.

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If you were running your own practice, I think Jones would be a closer fit to what you were used to. Lots of latitude in how you want to build your business. Never worked at Merrill so I don’t know how it works first hand. A couple of guys I know have said it’s more of an office job. Lots of work behind the desk. It won’t be like that at Jones for the first few years.

likesmart

Uh oh. Struck a nerve with FA3.

Now we all get to hear part 2 about how he’s still jaded and miffed at Jones. You know what they say that “jealousy is the highest form of flattery”.

So call it drinking the kool-aid (wow that was original) or casting stones....I am becoming less and less surprised when a few advisors like you feel compelled to express their near hatred for Jones.

We really can all get along if you will just admit to yourself that there’s good, honest, independent minded individuals at every firm (wirehouse,regional, or independent). Jones included.

As bad as some firms are, I would never blast their company like you’ve done

It’s ok..really just let it go, man.

likefunny

IAR - I’m totally sorry you had to endure that.
I was raised if you can’t say something nice...don’t say anything at all. So I’m not even going to give that guy anymore fuel to his little fire to twist or go bonkers about.

Bottom line for me is that if I’m in your shoes, I would interview with advisors and staff from both companies. For me, I love the fact that I don’t haves branch manager in my location. I also don’t have other advisor(s) either. It’s just my assistant and me running the show. Our clients love the service we provide and we totally make a meaningful difference in their lives. It’s much more than just a job.

Away from work, many of my friends are other Edward Jones advisors. Our families are close and we genuinely care for one another. I know they have my back or would be there for me in a second in a difficult situation.

One of the guys in a city nearby gave a testimonial that more people from Jones helped he and his family after the loss of their child, than their own church they attend.

So good luck in your discernment process. But there’s just something special about being privately held (partnership) versus being publicly traded and owned by a bank.

likefunny

I’m in NE Florida

like

I agree with FA1. Comes down to independence. If you want a team, then goto Merrill. If you want to run your own show, EJ is the way to go. Most of our new hires get assets from a veteran advisor. Mentorship opportunities galore! Good luck 👍

like

Ironic that the jones guy is talking about indie being cult like when jones is the ultimate cult. I drank thr koolaid while I was there. And they do an EXCELLENT job at brainwashing you. I agree, it is a brilliant business model but Jones is a straight up cult.

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What market?

Jones

Neither. Go independent and get out of the BD channel.

Just made the exact same decision with the same 2 companies in NE Florida. I went with Jones and 3 months in, I think it was the correct choice.

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