Advisory Solutions $50K

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breaking news's picture
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Edward Jones has announced advisory solutions to be lowered to $50K.  That may help the books short term but won't it be easier to leave Jones once a good size book of advisory has been built.  If charging A share clients are less likely to want to move and pay again I would think.  This may open the door for easier defection not only from the client but from the advisor as well.  Think about it.  Charge 1.35% at Jones.  Move the book once it's built and charge less.  Advisory at 50K sounds good but is it?

NOVA's picture
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Joined: 2005-01-11

You don't charge client the A share commission when you switch firms. 

Spaceman Spiff's picture
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Why would it be bad and who would it be bad for? 
 
How much time do you spend managing a $50K portfolio?  1-2 hours a year, maybe?  How often do you rebalance it?  Once a year or less?  I'd guess most FAs have a small group of funds that they like, probably called Checks and Balances or Founding Funds or something like that and anything in the $50K range gets put in there.  You wouldn't even think about using 20 different funds for $50K.  With Advisory Solutions you can use all the funds you need, rebalance whenever necessary without thinking about it, and still get paid to do the work for the client.  I'd guess for a lot of Jones guys dropping the minimum to $50K puts a ton of people in the funnel for Advisory. 
 
Is it easier to move?  Possibly.  Can you find it less expensive somewhere else?  Doubtful.  Will you get the whole Advisory Solutions group approach with another program?  No.  That program runs on autopilot from an investment standpoint once you put the money in.  If you go indy (which would be the only really logical place to go if you leave Jones) all those things that used to be automatic (including the research and fund selection if you use the models) you now have to do yourself. 
 
I think it's good for Jones, good for the FA, good for the clients who can now participate.

Squash1's picture
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Joined: 2008-11-19

This is where you lose me... what is the point of wrapping mutual funds??? My idea behind the wrap account, is that you can add in other options, bonds, etfs, uits,stocks... why would i pay 1.35% to have someone rebalance my mutual funds(Isn't the point of active mutual fund management, to rebalance at the manager's discretion inside the fund, how does rebalancing 6-12 funds helps with that, and rebalancing based on a time period or % change is just pointless.. For example you would be selling constantly out of a bond fund over the last year and adding to equities, which continue to go down and down and down.)

Spaceman Spiff's picture
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Your statement tells me that you don't understand the purpose for or mechanics of Advisory Solutions at all.  Or that you may not really have a great grasp of investing in general.  Yes, if you use a mutual fund the money manager will buy and sell stocks or bonds inside that mutual fund.  However, a growth fund manager isn't going to buy bonds.  A bond fund manager isn't going to rebalance to equities.  Advisory Solutions is about asset allocation and picking some of the best money managers to build the portfolio.  Or I can use ETFs if I choose to go that route.  Yes, Ice, I know that's the route I should be taking.  It's not rebalanced on a schedule, but rather on a variation from the target percentages.  Let's not forget the CFAs who are building the models either.  I'd put their knowledge up against any FA out there. 
 
You may want to pull up your quote system and check the numbers.  As of this morning we're up 35%+ on the S&P since the bottom.   
 
 

Squash1's picture
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Joined: 2008-11-19

I think the ETF route would be better (didn't know it was available)(Those "great money managers and FT killed the Founding Funds).
If we are 35%+ since the bottom that is great... But most clients didn't get in at the bottom. And if they did I think it was more luck than skill..and also your "great money managers don't own the S&P..
 
Ishares 500 is at around $90/share now.. up 35% in last month or so... still need 60% more to get back to may of last year ($142/share).. so if you got in last month or so great.. if you have been in for a while... ooops

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B24
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This thread is pointless.  You can tranfer Advisory accounts to other firms if you want.  You can use ETF's if you want (Squash), and you can charge more OR less somewhere else. 
Squash, by the way, you are in the vast minority of people that don't agree with MFD wrap accounts.  They exist at every major firm.  Not everyone believes whole-heartedly in the ETF strategy (not that it's bad - I am just saying not everyone subscribes to that philosphy).  You are not paying to rebalance the funds.  You are paying to choose the RIGHT funds, that don't overlap, that have consistent results, blah blah, as well as the personal planning services of the FA.  So get it out of your head that it is all about MFD's vs. ETF's.

ManOnTheCouch's picture
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Joined: 2009-02-03

With companies dropping B shares, Advisory Solutions at 50K looks like an attrative alternative for many in the 50-100K range.

Ron 14's picture
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I think thats a great move for Jones. Some of the push back on the program when it was first released was from some of the dinosaur FA's. With a smaller account minimum maybe they will give it a try. Once they do they will like it.

Borker Boy's picture
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Joined: 2006-12-09

How long does a client have to have owned A shares before we can toss them into Advisory without getting chargebacks on commissions?

Moraen's picture
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Spaceman Spiff wrote: Your statement tells me that you don't understand the purpose for or mechanics of Advisory Solutions at all.  Or that you may not really have a great grasp of investing in general.  Yes, if you use a mutual fund the money manager will buy and sell stocks or bonds inside that mutual fund.  However, a growth fund manager isn't going to buy bonds.  A bond fund manager isn't going to rebalance to equities.  Advisory Solutions is about asset allocation and picking some of the best money managers to build the portfolio.  Or I can use ETFs if I choose to go that route.  Yes, Ice, I know that's the route I should be taking.  It's not rebalanced on a schedule, but rather on a variation from the target percentages.  Let's not forget the CFAs who are building the models either.  I'd put their knowledge up against any FA out there. 
 
You may want to pull up your quote system and check the numbers.  As of this morning we're up 35%+ on the S&P since the bottom.   
 
  Let's not forget the CFAs who are building the models either.

Jones, and a lot of them are true, but the one thing I say for the rest of my life as long as they keep Alan Skrainka and Mario DeRose on is that those guys got their CFA's out of a cracker jack box. Jones has great people, great FA's and maybe even some great HQ people, but their analysts are crap. And I'll put my knowledge up against theirs any day of the week.

noggin's picture
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Spaceman Spiff wrote:Why would it be bad and who would it be bad for? 
 
How much time do you spend managing a $50K portfolio?  1-2 hours a year, maybe?  How often do you rebalance it?  Once a year or less?  I'd guess most FAs have a small group of funds that they like, probably called Checks and Balances or Founding Funds or something like that and anything in the $50K range gets put in there.  You wouldn't even think about using 20 different funds for $50K.  With Advisory Solutions you can use all the funds you need, rebalance whenever necessary without thinking about it, and still get paid to do the work for the client.  I'd guess for a lot of Jones guys dropping the minimum to $50K puts a ton of people in the funnel for Advisory. 
 
Is it easier to move?  Possibly.  Can you find it less expensive somewhere else?  Doubtful.  Will you get the whole Advisory Solutions group approach with another program?  No.  That program runs on autopilot from an investment standpoint once you put the money in.  If you go indy (which would be the only really logical place to go if you leave Jones) all those things that used to be automatic (including the research and fund selection if you use the models) you now have to do yourself. 
 
I think it's good for Jones, good for the FA, good for the clients who can now participate.
 
Do you really believe that your pricepoint is lower??? You really should do your due diligence before you accept what the home office tells you......

Moraen's picture
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By the way, I think that Jones moving to $50k threshold is a good idea. They just need more flexibility in their program.

And new analysts.

Spaceman Spiff's picture
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Morean - first, I want to compliment your ability to recognize a good move.  Second, I want to tell you that  you're full of it and you don't even know it.  Skrainka has nothing to do with Advisory Solutions.  Different GP, different leadership, different analysts.  If you ever looked at AGE's advisory program, you'll notice some similarities.  That's because the GP that runs AS used to work for AGE.  As did a lot of the analysts.  The AGE fiasco was a major coup for EDJ.  We picked up some of those folks that were analysts for them and moved them over here. 
As far as our stock analysts go, I tend to agree with you.  We've brought a ton of new ones on board and are covering a lot of stocks that we didn't before, but it's still not as robust as a lot of us would like to see.    

Spaceman Spiff's picture
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noggin wrote:Spaceman Spiff wrote:Why would it be bad and who would it be bad for? 
 
How much time do you spend managing a $50K portfolio?  1-2 hours a year, maybe?  How often do you rebalance it?  Once a year or less?  I'd guess most FAs have a small group of funds that they like, probably called Checks and Balances or Founding Funds or something like that and anything in the $50K range gets put in there.  You wouldn't even think about using 20 different funds for $50K.  With Advisory Solutions you can use all the funds you need, rebalance whenever necessary without thinking about it, and still get paid to do the work for the client.  I'd guess for a lot of Jones guys dropping the minimum to $50K puts a ton of people in the funnel for Advisory. 
 
Is it easier to move?  Possibly.  Can you find it less expensive somewhere else?  Doubtful.  Will you get the whole Advisory Solutions group approach with another program?  No.  That program runs on autopilot from an investment standpoint once you put the money in.  If you go indy (which would be the only really logical place to go if you leave Jones) all those things that used to be automatic (including the research and fund selection if you use the models) you now have to do yourself. 
 
I think it's good for Jones, good for the FA, good for the clients who can now participate.
 
Do you really believe that your pricepoint is lower??? You really should do your due diligence before you accept what the home office tells you......
 
I have done my due diligence and for the type of program it is, there aren't many programs that compare in price.  And none of them work exactly like AS does.  Now, you as an indy may choose to only charge the client 1% to manage their portfolio, but you're not going to do the level of research, allocation, and rebalancing that the AS team does.  Especially at the $50K level. 

Moraen's picture
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Spaceman Spiff wrote: Morean - first, I want to compliment your ability to recognize a good move.  Second, I want to tell you that  you're full of it and you don't even know it.  Skrainka has nothing to do with Advisory Solutions.  Different GP, different leadership, different analysts.  If you ever looked at AGE's advisory program, you'll notice some similarities.  That's because the GP that runs AS used to work for AGE.  As did a lot of the analysts.  The AGE fiasco was a major coup for EDJ.  We picked up some of those folks that were analysts for them and moved them over here. 
As far as our stock analysts go, I tend to agree with you.  We've brought a ton of new ones on board and are covering a lot of stocks that we didn't before, but it's still not as robust as a lot of us would like to see.    

I never said that Skrainka was in charge of Advisory solutions. But he is the face of the research department. They are still the same underpaid, crappy analysts.

And I like how everybody talks about the great people that you got from AGE. Wasn't the person who was the lead on the Financial Planning software (can't remember the name - Sungard or something) from AGE too? That software was worthless.

As an owner of an RIA, I get 100%. Not to mention, I could probably charge 70 bps and get paid more than a Jones guy. I don't, because I think that my research is better and that I offer much more value to my clients than Jones reps.

Spiff, you need to let the armor rust a little. The shine is blinding you, my friend.

Also, I think that Jones should bring the threshold down to $25 or even $10k. And they need to add equities.

I know that some people think that managed mutual fund accounts are the way to go, but I am adamantly opposed to them.

noggin's picture
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Spaceman Spiff wrote:noggin wrote:Spaceman Spiff wrote:Why would it be bad and who would it be bad for? 
 
How much time do you spend managing a $50K portfolio?  1-2 hours a year, maybe?  How often do you rebalance it?  Once a year or less?  I'd guess most FAs have a small group of funds that they like, probably called Checks and Balances or Founding Funds or something like that and anything in the $50K range gets put in there.  You wouldn't even think about using 20 different funds for $50K.  With Advisory Solutions you can use all the funds you need, rebalance whenever necessary without thinking about it, and still get paid to do the work for the client.  I'd guess for a lot of Jones guys dropping the minimum to $50K puts a ton of people in the funnel for Advisory. 
 
Is it easier to move?  Possibly.  Can you find it less expensive somewhere else?  Doubtful.  Will you get the whole Advisory Solutions group approach with another program?  No.  That program runs on autopilot from an investment standpoint once you put the money in.  If you go indy (which would be the only really logical place to go if you leave Jones) all those things that used to be automatic (including the research and fund selection if you use the models) you now have to do yourself. 
 
I think it's good for Jones, good for the FA, good for the clients who can now participate.
 
Do you really believe that your pricepoint is lower??? You really should do your due diligence before you accept what the home office tells you......
 
I have done my due diligence and for the type of program it is, there aren't many programs that compare in price.  And none of them work exactly like AS does.  Now, you as an indy may choose to only charge the client 1% to manage their portfolio, but you're not going to do the level of research, allocation, and rebalancing that the AS team does.  Especially at the $50K level.  I would waste my time discussing this with you because you don't know what you are talking about. We have 5 different levels of fee based accounts with several (that means more than one) that run in the same way as AS. You really should investigate something before you open your mouth and erase all doubt.....

jamesbond's picture
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Geez and just a few years ago 95% of jones reps were railing against c shares because they screwed the client, my how things have changed

Moraen's picture
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A-shares are the best thing for clients. The best. We believe that. We truly believe that. Oh, wait we're losing market share to other firms. Advisory solutions is a great fit for a lot of clients. Remember how you sold against advisory accounts for so long.... well, now you get to sell them and talk about how ours is better than theirs b/c we have a board of people who rebalance it and guess what? You get to use the same funds you were selling people before, so it's easy. We are moving from product-based selling to solutions-based selling. We're awesome. Our advisory platform is the best. If you don't use that for your clients, use the robust MAP program. Which is also full of lots and lots of awesomeness.

We are offering clients all kinds of stuff now. We won't help protect them from severe market loss, but we'll move them into this new solution that will help you annuitize your business and focus on less clients, more service.

breaking news's picture
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I believe Advisory is a great new tool in our quiver but I also know it was introduced to annuitize the business.  Lowering it to 50K just helps us do it quicker.  GP doesn't like no bonus bracket.  You've got vets living in big houses and big lifestyles with a serious pay cut this year.  Check yourself boys and girls.  Make sure your moving clients into this for the right reason.
 

noggin's picture
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breaking news wrote:I believe Advisory is a great new tool in our quiver but I also know it was introduced to annuitize the business.  Lowering it to 50K just helps us do it quicker.  GP doesn't like no bonus bracket.  You've got vets living in big houses and big lifestyles with a serious pay cut this year.  Check yourself boys and girls.  Make sure your moving clients into this for the right reason.
 Best post on this in the whole thread.

Soothsayer's picture
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Jones analysis of anything, be it stock, bond, mutual fund or anything else is subpar.  Sorry, Spiff, that's just a fact.  Please stop touting your "analysts."  In the big picture, they kind of suck. 

Ron 14's picture
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Moraen wrote:A-shares are the best thing for clients. The best. We believe that. We truly believe that. Oh, wait we're losing market share to other firms. Advisory solutions is a great fit for a lot of clients. Remember how you sold against advisory accounts for so long.... well, now you get to sell them and talk about how ours is better than theirs b/c we have a board of people who rebalance it and guess what? You get to use the same funds you were selling people before, so it's easy. We are moving from product-based selling to solutions-based selling. We're awesome. Our advisory platform is the best. If you don't use that for your clients, use the robust MAP program. Which is also full of lots and lots of awesomeness. We are offering clients all kinds of stuff now. We won't help protect them from severe market loss, but we'll move them into this new solution that will help you annuitize your business and focus on less clients, more service.
 
This is exactly it. And the RL's BS their way around it saying, well do what is best for the client. It is this double talk that drives many with the ability to think for themselves away from Jones.

jkl1v1n6's picture
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Isn't it interesting that firms believe that accounts like Advisory Solutions is only in the best interest of the 50m or 100m client.  Apparently it isn't in the best interest of smaller accounts to have the same types of investments available to them. 

Morphius's picture
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Spaceman Spiff wrote: If you go indy (which would be the only really logical place to go if you leave Jones) all those things that used to be automatic (including the research and fund selection if you use the models) you now have to do yourself. 
Space,

I'm not going to enter the old debate about wrapping MFs vs ETFs vs individual securities, or what the appropriate minimum $ level might be, but I do want to correct one misunderstanding.

Contrary to what you may have been told, my friend, indys do NOT "have to" do all those things you mention by themselves. One certainly CAN do them if you wish, but it's not necessary: there are many platforms and programs available that perform the same functions you mention, and almost always for a lower all-in price (including your fee and the platform fee) than your single internal program. Some of them are the exact same third party platform you might be familiar with, just with a different name and pricing structure.

That's not a knock on EDJ or your internal program - it applies more or less to all these programs at any brokerage firm. But if you think this same thing can't easily be done by indys for lower costs, you aren't really familiar with the actual options in the independent channel.

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Soothsayer wrote:Jones analysis of anything, be it stock, bond, mutual fund or anything else is subpar.  Sorry, Spiff, that's just a fact.  Please stop touting your "analysts."  In the big picture, they kind of suck. 
 
Actually, I used to think that as well.  However, one of the things I came to realize is that it's not the quality of the analysts.  It's their over-arching investment philosophy.  If you are a true believer in buy-and hold, which MANY people are, then Jones actually does a pretty good job.  I won't bore everyone with details, but would argue more that the investment philosophy is lacking sometimes, versus the analysis.  And there is not a lot of tangible evidence that the analysts "suck".  Their numbers are on par with the rest of the industry.  I would also say that FA's NEED to think for themselves when it comes to choosing investments.  Use the resources of the firm, but use 3rd party resources as well.  And your clients needs should play a big part in your investment decisions, not just whether the Jones model beat the S&P last year or not.

Ron 14's picture
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Who really cares about firm "analysts" anyways ? There aren't firms who are crushing the benchmarks over long periods and there aren't firms being crushed by benchmarks over long periods. Same with mutual fund families and companies. It seems like a completely irrelevant way to judge the strength of how well a firm operates from both its employees and their clients.

bspears's picture
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 have done my due diligence and for the type of program it is, there aren't many programs that compare in price.  And none of them work exactly like AS does.  Now, you as an indy may choose to only charge the client 1% to manage their portfolio, but you're not going to do the level of research, allocation, and rebalancing that the AS team does.  Especially at the $50K level. 
 
SPIFFY...Crack is wack.  Quit drinking koolaid out of a fire hose....your so funny...

Valhalla's picture
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.

B24's picture
B24
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Actually Spiff, I have to side with Spears et.al. here.  I have a few friends at Merrill and a few friends that are RIA's.  Their processes are quite impressive.  And the guys I know at Merrill are not just taking the Merrill boilerplate and running with it.  And FYI, most of them charge around 1%  (granted, they generally don't TAKE clients under a certain amount, but if they did, their fee would be higher than ours by about 25 bips). 

Spiff, sometimes you REALLY have to take the company line with a grain of salt.  Yes, I have seen many managed accounts come over from other firms that are absolutely crap and absolutely over-charging.  But there are plenty of really good ones out there.  You just don't see them because they won't leave their current advisors.
 
As a sidenote, one of the RIA's is almost stricly an index/ETF guy, and the other is almost strictly actively managed MFD's.  Both have impressive track records and good busineses, but manage VERY differently.  Neither incorporate any individual securities.  Take that for whatever it's worth.

Valhalla's picture
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noggin wrote:Spaceman Spiff wrote:Why would it be bad and who would it be bad for? 
 
How much time do you spend managing a $50K portfolio?  1-2 hours a year, maybe?  How often do you rebalance it?  Once a year or less?  I'd guess most FAs have a small group of funds that they like, probably called Checks and Balances or Founding Funds or something like that and anything in the $50K range gets put in there.  You wouldn't even think about using 20 different funds for $50K.  With Advisory Solutions you can use all the funds you need, rebalance whenever necessary without thinking about it, and still get paid to do the work for the client.  I'd guess for a lot of Jones guys dropping the minimum to $50K puts a ton of people in the funnel for Advisory. 
 
Is it easier to move?  Possibly.  Can you find it less expensive somewhere else?  Doubtful.  Will you get the whole Advisory Solutions group approach with another program?  No.  That program runs on autopilot from an investment standpoint once you put the money in.  If you go indy (which would be the only really logical place to go if you leave Jones) all those things that used to be automatic (including the research and fund selection if you use the models) you now have to do yourself. 
 
I think it's good for Jones, good for the FA, good for the clients who can now participate.
 
Do you really believe that your pricepoint is lower??? You really should do your due diligence before you accept what the home office tells you......
 
Wrong again. Spiff, I really respect your love for firm, but please do not make sweeping statements about other firms Advisory Platforms based on what the STL allows you to know.
 
Last time they tried that, the presentation was called "Is The Grass Really Greener?" and FA's started leaving in droves. Dumbest thing I have ever seen in business, besides your boy Fes telling FA's/IR's that this would be the best advisory platform in the industry... and then "stepping down" right after it rolled out.

Ron 14's picture
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I think Bondguy, Bspears, and B24 should come out with their own individual newsletters for new FA's to subscribe to and learn from. I am not being sarcastic, I would be a buyer. Although currently we are getting good stuff from them for free on here !

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I saw someone resembling Fes giving a tour at Anhueser/Inbev a few weeks ago. He smelled of beer and looked confused.  He was telling some old people about the George Putnam Fund...LOL. He did know his stuff on the clydsdales...I'll give him that.

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Actually Spiff, I have to side with Spears et.al. here.

 
 
B24, don't think there's not an alarm and red flashing lights going off in HQ with that comment.  I'd pack my sh*t tonight and head out...you won't survive the night. Good luck my friend, I hope you find peace where you're going. 

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OK, OK.  I give.  Our Advisory Platform sucks, our analysts are crap, and Fes drinks too much. 

jkl1v1n6's picture
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Over!  Did you say over?  Was it over when the Germans bombed Pearl Harbor?  Hell no!  And it ain't over now, when the going gets tough...the tough gets going.  What the f*** happened to the Spiff I used to know?  Where's the spirit?  Where's the guts?  This could be the greatest night of your life, but you're going to let it be your worst.  We're afraid to go with you, we might get in trouble.  Well just kiss my a** from now on.  Not me, I'm not gonna take this. 

Come on Spiff this has been your most valiant battle yet.  Don't let them snatch it away from you. 

Moraen's picture
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B24 wrote: Soothsayer wrote:Jones analysis of anything, be it stock, bond, mutual fund or anything else is subpar.  Sorry, Spiff, that's just a fact.  Please stop touting your "analysts."  In the big picture, they kind of suck. 
 
Actually, I used to think that as well.  However, one of the things I came to realize is that it's not the quality of the analysts.  It's their over-arching investment philosophy.  If you are a true believer in buy-and hold, which MANY people are, then Jones actually does a pretty good job.  I won't bore everyone with details, but would argue more that the investment philosophy is lacking sometimes, versus the analysis.  And there is not a lot of tangible evidence that the analysts "suck".  Their numbers are on par with the rest of the industry.  I would also say that FA's NEED to think for themselves when it comes to choosing investments.  Use the resources of the firm, but use 3rd party resources as well.  And your clients needs should play a big part in your investment decisions, not just whether the Jones model beat the S&P last year or not.

Wrong about AAPL, wrong about HD, wrong about Lehman not going out of business three days before they did. Wrong about BAC, wrong about C - I could go on, but their analysts do suck.

They are not on par with "the rest of the industry" regardless of their investment philosophy.

I agree that clients' needs and risk tolerance should play the major part. The problem is, that's not Jones. I lost track of how many times I had to explain a trade to HQ. Every time the response was, "why don't you let the analysts make those calls. We have the great Alan Skrainka for a reason. (ok, i put the great part in there)."

My calls have been right more often than Jones.

Moraen's picture
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jkl1v1n6 wrote: Over!  Did you say over?  Was it over when the Germans bombed Pearl Harbor?  Hell no!  And it ain't over now, when the going gets tough...the tough gets going.  What the f*** happened to the Spiff I used to know?  Where's the spirit?  Where's the guts?  This could be the greatest night of your life, but you're going to let it be your worst.  We're afraid to go with you, we might get in trouble.  Well just kiss my a** from now on.  Not me, I'm not gonna take this. 

Come on Spiff this has been your most valiant battle yet.  Don't let them snatch it away from you. 

A wise man picks and chooses his battles. I believe the correct term (correct me if I'm wrong 13A) is tactical withdrawal. Spiff is not giving up, he's simply choosing to fight on ground of his choosing. LOL

B24 - I hope that you don't have the Jones anti-Indy squad crawling through your office tonight while you are gone. Hope you get out before they get you.

bspears's picture
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Too late Moraen, he's gone.  RIP B24 ..you will be missed.  I'm sure someone in home office has already got dibs on his office.

Hey Kool-Aid's picture
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bspears wrote:Too late Moraen, he's gone.  RIP B24 ..you will be missed.  I'm sure someone in home office has already got dibs on his office.
 
Probably a PASS Program Kid 

breaking news's picture
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Do you really believe "the rest of the industry" called BAC, C and Lehman right?  That is a pretty broad statement.

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breaking news wrote:Do you really believe "the rest of the industry" called BAC, C and Lehman right?  That is a pretty broad statement.
 
Breaking - I believe even the hated Meredith Whitney called it.  Anybody who couldn't see what was going to befall Lehman three days before it fell should have been fired, tarred and feathered.

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Joined: 2005-02-24

jkl1v1n6 wrote:
 Was it over when the Germans bombed Pearl Harbor?  

 
Actually, it was the Japanese who bombed Pearl Harbor.  Just sayin'......

kitcap's picture
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Joined: 2009-04-02

Soothsayer wrote:jkl1v1n6 wrote:
 Was it over when the Germans bombed Pearl Harbor?  

 
Actually, it was the Japanese who bombed Pearl Harbor.  Just sayin'......It is in reference of Belushi' speech in Animal House...

jkl1v1n6's picture
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Joined: 2008-10-06

Soothsayer wrote:jkl1v1n6 wrote:
 Was it over when the Germans bombed Pearl Harbor?  

 
Actually, it was the Japanese who bombed Pearl Harbor.  Just sayin'......
 
This is the second time I've seen this corrected on this site.  The first was Ice, my question is how young are you guys?  The second question I have is why haven't you, regardless of your age, seen one of the all time funniest movies?

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jkl1v1n6 wrote:
Over!  Did you say over?  Was it over when the Germans bombed Pearl Harbor?  Hell no!  And it ain't over now, when the going gets tough...the tough gets going.  What the f*** happened to the Spiff I used to know?  Where's the spirit?  Where's the guts?  This could be the greatest night of your life, but you're going to let it be your worst.  We're afraid to go with you, we might get in trouble.  Well just kiss my a** from now on.  Not me, I'm not gonna take this. 

Come on Spiff this has been your most valiant battle yet.  Don't let them snatch it away from you. 
 
I didn't catch the Animal House reference until you mentioned it.  And I've seen the movie half a dozen times. 
 
 
 

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Spaceman Spiff wrote:Why would it be bad and who would it be bad for? 
  If you go indy (which would be the only really logical place to go if you leave Jones) all those things that used to be automatic (including the research and fund selection if you use the models) you now have to do yourself. 
 
 
 
So not true...RJ does everything Jones does in this regard and still pays an Indy payout.

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Joined: 2006-08-08

Yeah, we covered that already.  But thanks for the reminder. 
 
Nothin like kicking a guy while he's already down. 
 
So who has a better research area, LPL or RayJay?

koolaidspitter's picture
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Joined: 2009-01-02

Right on Moraen, comparing the c***tail of A share funds I use to their AS morningstar comparison A shares win. Unless I can use stocks and bonds in a fee based account, AS is not best for the client and I can sleep with a clean conscience. BTW Iceco1d the fee is 1.35% and try discounting the poor thing and your cut goes to 30% of gross. Use it at your own peril folks, I would rather wait a couple more years to see how it all works out.

koolaidspitter's picture
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Joined: 2009-01-02

Sad thing is the GP's got a pretty good return on their investment (somewhere in the range of 40%) while the rest languish at zero bonus bracket.

LuvIndy's picture
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Joined: 2008-06-25

LuvIndy wrote:Spaceman Spiff wrote:Why would it be bad and who would it be bad for? 
  If you go indy (which would be the only really logical place to go if you leave Jones) all those things that used to be automatic (including the research and fund selection if you use the models) you now have to do yourself. 
 
 
 
So not true...RJ does everything Jones does in this regard and still pays an Indy payout.As an Indy with RJ I just consider them one source among many. In fact our internal platform subscribes to 2 other firms besides RJ, and Gasp...sometimes they disagree! I don't ever feel the need to say "we think" or "our analysts think" any more. It's quite freeing.

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