Register here to view the forum without ads

Insurance Agent Forum
Join our Facebook Fan Page  Join our LinkedIn Group of Insurance Agents  Follow Insurance Agents Forum on Twitter
Currently Online: 67
Members: 13,183
Discussions: 15,199
Messages: 199,325
Views: 7,985,060

Go Back   Insurance Agent Forum > Insurance Agents and Brokers Forum > General Insurance Agent Discussions

Health Choice One

Scroll down for a discussion on Edward Jones? within the General Insurance Agent Discussions.

Anyone have any info on Edward Jones? Any and all input and opinions appreciated. Thanks, Al D....


Reply to Edward Jones?
Old 08-16-2007, 06:01 PM   #1
Guru
 
Alsky on Edward Jones? - Insurance Agent Forum
 
Join Date: Mar 2007
Posts:368
Edward Jones?             Go to Top


Anyone have any info on Edward Jones? Any and all input and opinions appreciated.

Thanks,
Al D.
Choose Insurance Type

Enter Zip Code
Alsky is offline   Reply With Quote to Edward Jones?

Register Now for FREE!
Are you an Insurance Agent Forum member yet? To sign up for your FREE INSTANT account, fill out the form below!

Username:     Password:   Confirm Password:     E-Mail:   Confirm E-Mail:

    Question of the day:   What is 17 minus one? Agree to forum rules 


Old 08-16-2007, 06:04 PM   #2
Guru
 
salpro22 on Edward Jones? - Insurance Agent Forum
 
Join Date: Dec 2006
Posts:2,217
Re: Edward Jones?             Go to Top

I was offered a job with that company a few years ago. What do you want to know?
------------------------------------
[COLOR=#000066]"Tell me and I will forget. Show me and I will remember. Involve me and I will understand." Confucius

[/COLOR]
http://insurancesaleslibrary.blogspot.com/
salpro22 is offline   Reply With Quote to Edward Jones?
Old 08-16-2007, 06:08 PM   #3
Guru
 
policy doctor on Edward Jones? - Insurance Agent Forum
 
Join Date: Nov 2006
Posts:1,065
State: policy doctor is an Insurance Agent from Georgia
Re: Edward Jones?             Go to Top

Your best bet is to find those financial forums where the security licensed brokers exchange info. Try top-gun producers.com and there was another one, registered rep.com.

You have to beat the bushes, just like insurance. I even had one guy canvass my neighborhood just a few months ago. I was so surprised....rarely do you see residential canvassing by professionals. (not the JW's, and handyman type). Had to compliment him for being gutsy....and encouraged him, of course.

A financial planner is an insurance guy with a securities license. My take on the matter.
policy doctor is offline   Reply With Quote to Edward Jones?
Old 08-16-2007, 06:36 PM   #4
Guru
 
Newby on Edward Jones? - Insurance Agent Forum
 
Join Date: Apr 2007
Posts:1,596
State: Newby is an Insurance Agent from Indiana
Re: Edward Jones?             Go to Top

Originally Posted by Alsky View Post
Anyone have any info on Edward Jones? Any and all input and opinions appreciated.

Thanks,
Al D.
I know I've had all my retirment accounts with them for years but I'm in the process of yanking it all away. Assholes had me in a bunch of B-shares because I didn't know any better.

That place will fee you to death.
Newby is offline   Reply With Quote to Edward Jones?
Old 08-16-2007, 07:12 PM   #5
Guru
 
Join Date: Mar 2007
Posts:408
Re: Edward Jones?             Go to Top

Registered Rep. Magazine conducts a yearly survey of registered representatives guaging their satisfaction of the firms they work for.

Edward Jones and A.G. Edwards are always first and second.

Jones is not perfect, neither is NYL, Mass Mutual, Northwestern Mutual, Ameriprise, BCBS, Assurant, Ohio National, A.G. Edwards...

But they are a good place to be.
David C is offline   Reply With Quote to Edward Jones?
Old 08-16-2007, 07:15 PM   #6
Expert
 
Macdaddy on Edward Jones? - Insurance Agent Forum
 
Join Date: Dec 2006
Posts:166
Re: Edward Jones?             Go to Top

At EJ you will not be a securities professional, you will be a prospecting professional. Get used to cold calling and door knocking.

Most guys that are good will use EJ as a spring board to get started, only because they don't know any better. I know a guy that started with them, left and took 90% of his book of business with him and he is now indy. Somehow he dodged the non compete clause.

Yes they will fee the clients to death, which is not generally good for the client. A better choice would be choosing to become a fee only adviser.
Macdaddy is offline   Reply With Quote to Edward Jones?
Old 08-17-2007, 01:26 PM   #7
Guru
 
LGilmore on Edward Jones? - Insurance Agent Forum
 
Join Date: Jun 2007
Posts:1,249
State: LGilmore is an Insurance Agent from Washington
Re: Edward Jones?             Go to Top

My impression of EJ is they want to be the starbucks of investment. They don't care if there are two EJ on the same block. They are trying to be everywhere, which is good and bad. It's good to get the name out there, bad if you're the local EJ guy and find yourself competiting against 3-4 other EJ guys for the same business.

Also I find their fee structure totally screws the client. They are an expensive place to park money.
LGilmore is offline   Reply With Quote to Edward Jones?
Old 08-17-2007, 11:32 PM   #8
al3
Guru
 
al3 on Edward Jones? - Insurance Agent Forum
 
Join Date: Sep 2006
Posts:3,392
Re: Edward Jones?             Go to Top

Well, my personal financial (equities) advisor is a 24 year old EJ guy. He has had his office for 4 years. He is young, honest, and very knowledgeable. How do I know? Because I'm old, honest and very knowledgeable.

This is not an endorsement of EJ. What I'm trying to say is that each office is individually owned... not unlike each independent insurance agent (such as on this board.)

EJ fits my investment philosophy, which is why I do business with them. Then again, I'm probably far more conservative than most of you out there. I like to think that because of my investment philosophy, I'm far wealthier than those of you out there. Of course, I don't know. What I do know is that you MAY want to choose an investment company that matches your own individual philosophy... and then find the broker who 'works' with your own personality and who understands your own personal objectives. That's what I did and it has worked well. YMMV.

As for fees... nothing is free. So long as I get the representation, the integrity, and the advice that I request, I feel I'm getting good value for my money. If you need to manage a large portfolio you want someone who will take the time and make the effort to do a good job. Maybe there are brokers in the large wire houses who will/can do that, but I like to deal with small business people... because I'm a small business "people."

Al
www.insurancesolutions123.com
al3 is offline   Reply With Quote to Edward Jones?
Old 08-18-2007, 02:00 AM   #9
Guru
 
LGilmore on Edward Jones? - Insurance Agent Forum
 
Join Date: Jun 2007
Posts:1,249
State: LGilmore is an Insurance Agent from Washington
Re: Edward Jones?             Go to Top

Al3 as a kid I used to think that way about my pc agent who handled my car insurance. Always nice, a great guy. A great guy who drove a porche targa with help from my premium dollars. Taught me about where my money goes.

I don't disagree with some of your statements, but it does make sense to see if your paying fair dinkum for what you're getting. I know your EJ guy's gotta eat, but sirloins not going to hurt him.
LGilmore is offline   Reply With Quote to Edward Jones?
Old 08-18-2007, 02:16 AM   #10
al3
Guru
 
al3 on Edward Jones? - Insurance Agent Forum
 
Join Date: Sep 2006
Posts:3,392
Re: Edward Jones?             Go to Top

Originally Posted by LGilmore View Post
al3 as a kid I used to think that way about my pc agent who handled my car insurance. Always nice, a great guy. A great guy who drove a porche targa with help from my premium dollars. Taught me about where my money goes.

I don't disagree with some of your statements, but it does make sense to see if your paying fair dinkum for what you're getting. I know your EJ guy's gotta eat, but sirloins not going to hurt him.
There is truth here in the following passage. You have to search for it, but it's there... and if you see it you will understand why I pay what I pay.

Johnny Ola: Hyman Roth always makes money for his partners. One by one, our old friends are gone. Death, natural or not, prison, deported. Hyman Roth is the only one left, because he always made money for his partners.


Al

PS: Dominic Chianese played Johney Ola in the Godfather II... and Corrado 'Junior' Soprano.
al3 is offline   Reply With Quote to Edward Jones?
Old 08-18-2007, 02:20 AM   #11
Guru
 
James on Edward Jones? - Insurance Agent Forum
 
Join Date: Sep 2006
Posts:2,841
Re: Edward Jones?             Go to Top

Just as long as they are honest with their fees, which isn't specific to EJ. Yet with the Merril Rule now defunct, all of the settling has not yet been seen.
James is offline   Reply With Quote to Edward Jones?
Old 08-18-2007, 09:51 PM   #12
Super Genius
 
Join Date: Jun 2007
Posts:22
Re: Edward Jones?             Go to Top

My first financial job right out of college was with Jones.
Not a bad firm depending on what you want your practice to be like.

They have a limited mutual fund product line.....like 8 fund families...
Rumor is they are introducing a fee-based account this year sometime...

My opinion is that the Jones setup is more suited for small towns.
RolloverCoach is offline   Reply With Quote to Edward Jones?
Old 08-19-2007, 11:21 PM   #13
Guru
 
Join Date: May 2007
Posts:4,073
Re: Edward Jones?             Go to Top

I believe all (if not most) of the dirt on Edward Jones can be found at registeredrep.com - look into advisor forums. Seems like EJ is a bit of a "cult" - remember, cult members are pretty happy with their cult, so you should expect the members to give the cult leaders high marks, right?

Every financial advisor has different methods to approach solutions. Which is another reason why there is also so much disgust/disappointment within the advisor community with respect to Dave Ramsey!
Mr. Bill is offline   Reply With Quote to Edward Jones?
Old 08-20-2007, 01:39 AM   #14
Guru
 
salpro22 on Edward Jones? - Insurance Agent Forum
 
Join Date: Dec 2006
Posts:2,217
Re: Edward Jones?             Go to Top

Originally Posted by Mr. Bill View Post
I believe all (if not most) of the dirt on Edward Jones can be found at registeredrep.com - look into advisor forums. Seems like EJ is a bit of a "cult" - remember, cult members are pretty happy with their cult, so you should expect the members to give the cult leaders high marks, right?

Every financial advisor has different methods to approach solutions. Which is another reason why there is also so much disgust/disappointment within the advisor community with respect to Dave Ramsey!
I ran into a client who is a big fan of Dave Ramsey. This guy had not had coverage for him and his a family for about 3+ years. He wanted health and life insurance. Great, I won't be needing Viagra tonight honey

Anyways, this guy first wanted 1,500,000 of Term Insurance and a health insurance plan. Here's the run do of the conversation.

Me: Fair enough....a health insurance plan will cost you between $250-$400 a month a term product of that size is probably around $90 a month? Does that fit into your budget?
Guy: Yes
Me: Ok, how did you come up with 1,500,000 of term life insurance.
Guy: Have you heard of Dave Ramsey. He says that your life insurance should last about 10 years and should be no more than 10 times your annual income.
ME: Ah, I see where your coming from. Hold on second will you, I need to put a bit more jack in this coke. Ok, I'm back, so you are saying you make e $150,000 a year driving a truck locally?
Guy: Yes
Me: Wow, you must be very proud. Are you hiring???? further qualifying...yadda yadda yadda....I'd like to schedule a follow up call within the next few days so I have time to contact the insurance carriers and get their offers so I can present them to you so you can make a decision. When is a good time and day within the next few days that you will have about 10 minutes to go over everything?
Guy: Actually, that would be great. Could you e-mail them to me. I'm going on vacation and will be gone. Can you call me back in 1 month.
Me: Not a problem. I'm actually going on vacation myself to Africa to find Moses and Jesus. How about we shoot for the middle of July?
Guy: Sounds good.

Middle of July

Ring ring....

Me: Hello, this is yadda yadda yadda. I'm just calling you back to see if you have any questoins about the e-mail proposal I sent you regarding the health insurance rates you requested.
Guy: Actually, I haven't had a chance to look at them. I got a quote for about $68 a month from a company in Baltimore for $500,000 in term life insurance.
Me: Oh yeah, what happened to wanting $1,500,000 in life insurance and a health insurance plan?
Guy: Uhhh, I have decided I don't want the health insurance time.
Me: No ****.......
Guy: What was that?
Me: That's a shift.
Guy: Yeah..
Me: I thought you wanted more life insurance.
Guy: As I said before, Dave Ramsey sells you should get no more than 10 times your annual income in life insurance then self insure.
Me: Ok, what happens at the end of the 10 years.
Guy: We self-insure. Are you familiar with that term??????
Me: I am familiar with the term. Would you be kind enough to tell me what your thoughts are on self-funding.
Guy: Listen, I know what I need because Dave Ramsey knows his stuff. Can you beat $68 a month.
Me: I'll tell you what. I do think I can help you.....
Guy: Ok
ME: Do me a favor and get a pen and paper so I can give you some great info.
Guy: ok, got it.
Me: Elvis isn't dead.........click...........
salpro22 is offline   Reply With Quote to Edward Jones?
Old 08-20-2007, 08:14 PM   #15
Guru
 
Join Date: May 2007
Posts:4,073
Re: Edward Jones?             Go to Top

I think what I'll do is start a Dave Ramsey thread, if there's already one out there, too bad!

As far as EJ - I would still argue a bit of a cult.
Mr. Bill is offline   Reply With Quote to Edward Jones?
Old 08-20-2007, 09:42 PM   #16
Guru
 
Join Date: Sep 2006
Posts:286
Re: Edward Jones?             Go to Top

Personaly, I'd stay far away from them.


Decent place to start and learn to prospect but after that you'll be looking to move. Well unless you have blinders on or as they say "drink the kool aid"

For those that have a large portion of investments with them well again personaly I'd check what kind of shares ( Bet I know what they are../wink)) and review/get a review of investments.

Choose Insurance Type Enter Zip Code


MIBizInsurance is offline   Reply With Quote to Edward Jones?
Reply to Edward Jones?

  Insurance Forum > Insurance Agent Forum > Insurance Agents and Brokers Forum > General Insurance Agent Discussions



Thread Tools
Display Modes

Similar Threads with Edward Jones?
Thread Thread Starter Forum Replies Last Post
Russ Jones. Three step postcard system mickeyma General Insurance Agent Discussions 7 01-11-2009 11:23 AM
Edward Jones vs State Farm magicmarker Getting Started Selling Insurance 18 08-30-2008 06:53 AM
Russ Jones indaville General Insurance Agent Discussions 7 09-26-2007 07:00 PM



All times are GMT -5. The time now is 06:11 AM.


Powered by vBulletin® Version 3.6.12 Secure
Copyright ©2000 - 2009, Jelsoft Enterprises Ltd.
SEO by vBSEO 3.3.0