Fisher backs Edward Jones integration with £15 million

.......or the Trail (Unserviced Clients) Account.

I think thats got at least £6m in it !

Yawn (waiting for posters on here to grow up).

Not everybody is palpably excited. Having had long term plans and desires crudely and cruelly wiped away many advisors are sitting quietly contemplating how much blood sweat and soul is going to be demanded for a salary and wether stock options are really what they want.

There is alot of anger and resentment at the way EJ refused to listen to business savvy advisers who strongly suggested making minor changes to the business model that would have brought costs well down; anger and resentment that at summer regionals we were fed a line about ongoing commitment that was a lie; anger and resentment that we have been sold out to a company with a structure so very different to the one we bought into.

Having met Mr Fisher and looked at his track record I have little doubt that we are joining a good company (assuming we are offered jobs that is) with good opportunities.

EJ has sold us out Mr Fisher, it will probably take a little while for us to buy back in.

I don't think the comment was petty I believe it is everything Andrew Fisher deserved in response to his previous stupid comments which are no doubt aimed at getting his company and indeed him some more publicity,and I for one totally agree with the sentiment.

I am glad that our forfeited pension contributions are being used to persuade the suspicious or waste on the unconverted...

come on guys- why publicise the cost of the integration?

If he is going to spend that much then he must see the potential in revenue to do so I doubt Mr Fisher has the same generous pockets as the EJ partners-it doesn't make sense to me sounds more like a PR exercise.

One thing however that Jones were excellent at was client servicing so the comment about "unserviced clients account" is a little misinformed- in fact, the issue that will remain is clients who have grown used to excellent personal service becoming a number and indeed a passive income to a larger fish- pardon the pun.

I believe anon was referring to the TL unserviced clients account, rather than any EJ version of the same.

EJ had a fantastic model with one small problem - it was completely uneconomic.

TL have a horrible model (in my opinion as a small firm practitioner) with one overwhelming strength - it is very very profitable, or at least appears to be at the moment.

The juxtaposition between these two provides some valuable insight into the present and future for the rest of us.

interesting times....

It isn't the same one most EJ advisers inhabit. Where does he get this palpable excitement? From the sycophants who are kissing butt trying to manoeuvre themselves into a management position (they know who they are) ? Or the Segment 4/5 advisers (i.e. the experienced advisers that have proven themselves) who are being bombarded with offers of alternative employment? Certainly not the latter if I or any of my close colleagues are anything to go by.

Most of us are awaiting an offer from TL before we decide that we are positively underwhelmed and then resign. Even if we get an offer that matches our worth, we know that this will entail giving a pound of flesh so we will resign anyway.

And if Fisher is going to see at least 1 adviser a week, well whoopy doo, it will only take him 6 years to see everybody, assuming he has some ex-EJ advisers left to see by then.

I echo Morgan Wantock’s views of EJ management, we have been sold down the river. We gave away a lot of our lives, not to mention a lion’s share of the commission we earned, on the basis of future possibilities, such as limited partnerships etc etc etc. Now that all has been taken away, can I have my fair share of the commission back please Curly Tim? A rhetorical question by the way. Selling to TL was in the best interests of the associates and the clients? Yeah right.

.......sure everyone is really excited to be joining another Company that is making huge losses and is destined for disaster.

After 41 years in this profession I am still amazed at the likes of this controller.When it collapses the grafter operators will have to start off from scratch so do it now and the clients will follow you

I for one will not be "one of the people brought on board". There are several Tahitis out there!!

Fisher (or is it Lt Bligh) is totally underestimating the sheer number of mutineers behind the EJ offices throughout the whole country. Yes we will "play the game", and sit and listen to the pathetic salary that TL are offering. £30k! - you must be joking- why should i take a huge cut in my earnings, to be based where- in a City centre office, miles away from any of my clients/prospects. How is this "integrating into the community" as was advised by one of Fisher's cronies at a local meeting. Disintegrating might be more appropriate!

I sincerely hope he will be increasing the number of staff in TL's transfer out team- because the mutineers will be keeping them very busy indeed- Most of MY clients (that i brought across to EJ) have already expressed a desire to move with me.

TL will be left with the vacuum of EJ advisers who are either "sycophants" (AND YES I AGREE YOU KNOW WHO YOU ARE!! or simply inexperienced and can be bought out for £30k as they know very little about how they will be micro managed in TL. Don't let the brown nosers drag you down.

So my hearties- look over the horizon- for there are many new lands awaiting EJ advisers- my mobile has never been so busy- and don't use the landlines- Big brother is watching!

ps- Anonymous TL man- I would be more than willing to set up a new pension for your in two months time, and i will earn a great deal more than 36% commission- eat that Mr Fisher!!

Sounds to me like you won't be much of a loss.

Dear colleagues, forget the anger, trepidation etc - it's not the end of the world!

Just as there are FAs who couldn't or wouldn't do things the EJ way, there are some who can't or won't do things the TL way. Neither firm is right for everybody nor for every client.

It is the clients who matter most since they provide us with our living regardless of who employs us.

My advice therefore is to do what is right for the majority of the people who trust you to look after their interests. If you believe you can do that via TL - sign up. If not, go to a firm (or go it alone/via a network) where you can. The one thing I learned above all others at EJ is that if you look after your clients and put their interests first you will never have to worry about the success of your business - unless you adopt a business model that is too expensive and too rigid to cope with the myriad changes and increased costs resulting from the current/future regulatory regime!!

Good luck to all - whichever path you take.

If this £15mio has been earmarked then why are TL stopping milestone bonuses? These are earned for reaching key targets for newer FA's and initially TL stated they would honour them but then changed their minds. Hardly building trust is it?