In The News: 2008

Here are some articles that Jim Jones has either authored or been quoted in.

First Wellesley Voted Best of 2008: Banker and Tradesman’s Best of 2008 First Annual Readers’ Poll
Wellesley Hills, MA | July 1, 2008

Since 1872, Banker & Tradesman has provided information on banking, real estate and related news to the business community in Massachusetts. On June 30, 2008, Banker and Tradesman held its First Annual Awards Ceremony at Boston’s historic Faneuil Hall. First Wellesley Consulting Group, Inc. was recognized as the Best of 2008 Silver Award Winner in the Bank Consultant category from a group of 30 consulting firms.

  • The ceremony honored the best providers of services in the banking and real estate professions.
  • Over 1,000 readers voted for the providers that they believe are best in numerous banking categories.
  • “This is a subjective, not objective poll. It does not measure who writes the most business, who has the most revenue or the most customers. It does measure the loyalty and satisfaction readers have with vendors. It is an opportunity for readers to speak up for those providers they believe are the best,” said Vincent Michael Valvo, Group Publisher, Banker & Tradesman.
  • Other Best of 2008 award winners included Bank of America, Wells Fargo, First American Title Insurance Company, Massachusetts Housing Investment Corp. and Deloitte & Touche LLP.

Web and Branch Sign-Ups Give Small Banks Lift
Kate Berry, American Banker | December 27, 2008

Jim Jones, the president of First Wellesley Consulting Group Inc. in Massachusetts, said that while some banks will want to originate mortgages without paying commissions, this is "a minority view," because "commissioned loan originators are producing high value."

More often, though, banks are turning to technology to leverage their branch networks, he said.

Many "low-tech" customers who would not consider applying for a mortgage online would get an application under way with a branch employee, Mr. Jones said. Branches "are underleveraged in terms of originating mortgages.

Bay State Banks Continue Expansion Projects
Amy Wyeth, New England Property Report Weekly Insider | December 17, 2008

Expenditures on construction and operations will impact the bank’s income statement, Bottomley accedes, but he says Danversbank anticipates the returns will be commensurate to the investment. That is how banks justify the up-front costs to build and operate new branches, agrees strategist Jim Jones, owner of First Wellesley Consulting in Wellesley.

Community Banks Defy Mortgage Market Woes
Amy Wyeth, Banker & Tradesman | August 4, 2008

The overall message is clear, said bank consultant Jim Jones, president of First Wellesley Consulting in Wellesley.

We’re seeing a strong move by community banks and credit unions to move up the leader board,” he said. “That tells me two things: One, consumers are pursuing a flight to safety [in the wake of the subprime lending crisis, and two, these institutions have found ways to tap into that demand.”