AG Edwards

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noggin's picture
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Joined: 2004-11-30

I heard AG Edwards will be acquired by Wachovia within the year. Any truth to this?

Lance Legstrong's picture
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Joined: 2005-01-12

Yes - This is absolutely true!
 
What a dumb frickin question.

exdrone's picture
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Joined: 2005-07-01

Why dont you ask Chris Blum(sp) isn't he the Fin Serv Analyst at Jones, Weddle and Co.
Hey, anyone know why Jones doesn't show up on Wall Street consesus analyst reports for projected earnings estimates and opinions?  Seems like those reports have every firm and their dog but Jones is never there.
BTW I am really wondering. I'm not just trying to be a smartass and  say nobody takes them seriously.

Revealer's picture
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Joined: 2005-02-13

Take this seriously. I once heard jones market "strategist" (what's his name?) say on CNBC that the only prices that matter on your stocks are what you paid and what you sell them for. (Implying current price doesn't matter.) Mmmmm let's see, I think I'll take my 1000 shares of WCOM down to the bank and borrow 20-30 G's on it. Suppose that'll work Mr. jones "strategist"?

noggin's picture
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Joined: 2004-11-30

Lance- Within a year, we will see how big of a moron you are.

troll's picture
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Joined: 2004-11-29

noggin wrote:I heard AG Edwards will be acquired by Wachovia within the year. Any truth to this?
 
Noggin, baby, who knows. But if this is the same source that told you there would be another round of cuts at MS before the end of the fiscal year, I'd make a wager with him on it. 

noggin's picture
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Joined: 2004-11-30

Mike-I never said that there would be cuts at MS, must have me confused with someone else. Sorry...

iconsult100's picture
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Joined: 2005-09-07

The aquisition would make some sense, but only time will tell...  This is the first time I've heard of it.

troll's picture
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Joined: 2004-11-29

iconsult100 wrote:The aquisition would make some sense, but only time will tell...  This is the first time I've heard of it.
AGE has been a rumored takeover target for YEARS!  Not likely.  None of their advisors are under contract, and not likely to be too open to a true 'wirehouse' environment.

BrokerRecruit's picture
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Joined: 2005-04-19

I have heard that they are targeting Dain, but again, anyone not owned by a bank has been in the takeover/merger discussions for years.

xej1984's picture
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Joined: 2004-11-30

Especially one owned by a Canadian bank.
The market up there is saturated with brokers.  The successful ones go indy through RJ (great operations/systems) other unfortunately succumb to another US firm firm from St. Louis with limited technology.

Uptick1's picture
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Joined: 2004-12-06

I think there are a few things we need to look out and consider before assuming AG Edwards will be bought out by Wachovia.
First AG Edwards does have a lot of cash on the books which makes them a very attractive purchase for most, but remember a high stock price is the first thing to turn away would be purchasers.  For right now there stock price is probably where it needs to be and management is dedicated to keeping it there.
In addition, if Edwards was taken over the FCs are automatically vested and with no contracts in force.  We all know in this business the brokers and their clients should be the most important asset to the firm.  So why would an acquiring broker dealer come in and take that huge risk that the brokers could walk away with everything?  I can think of other places to spend my money.  Also there is still the option Edwards could execute a poison pill.  They formally did away with it a few months back, but the board of directors have the option to bring it back if the situation arises.
I think the real question is who will Edwards be buying.  They definitely want to remove some cash from their books and buying another broker dealer would be the most profitable way to do it.  I think you could see this happen in the near future, but who knows.
Acquired? Maybe, but I think you are more likely to see ACQUIRING!!!
 

troll's picture
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Joined: 2004-11-29

I think uptick is right on.  I know he's accurate as to the fact that there are really no handcuffs on the advisors if they don't like the nature of an acquirer...

BrokerRecruit's picture
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Joined: 2005-04-19

I agree.  The only way to keep their producers is to pull a rentention bonus with a contract attached.  That said, I doubt many would stick around if that were the case.  I can't tell you how many producers I've talked to that have told me they would run out the door if they were acquired.
 

Lance Legstrong's picture
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Joined: 2005-01-12

All of this chatter is nonsense. AGE could be bought out - of course.  There could be ETs, their could be little green elves.  Why waste any breath talking about it. If and when it happens then talk. 
 
 The big news is that AGE and EDG are merging! 

BigPayDay's picture
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Joined: 2005-01-10

Lance Legstrong?

Is it still about the capital, stupid?

Take a look:

http://www.edwardjones.com/cgi/getData.cgi?file=/pdf/stateme nt_financial_condition.pdf

What was EJ capital before the settlement and what is it now? Idiot.

Yup, didn't think so, Lance the loser!

BPD

Player's picture
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Joined: 2004-12-08

BigPayDay
TOP 10 REASONS MY CLIENTS ARE GLAD I LEFT EDWARD JONES:
10. My clients also like the FACT my FIRM wasn't hit for 75 million in fines and facing close to 1 Billion in CA settlement.........
  9. FEE BASED BUSINESS (NO I WON'T EDUCATE YOU ON WHY IT'S BETTER THAN A SHARES) MY CLIENTS LOVE IT
  8. WHEN MY CLIENTS COME IN IT IS FOR SERVICE, NOT SELLING THEM THE "FLAVOR" OF THE MONTH LIKE YOU STILL DO...........DO THEY STILL HAVE THOSE SATURDAY PROMOTIONS, LIKE SELLING A "STOCK" or  'BOND" or A PARTICULAR "MUTUAL FUND"  OH, YEA BFD, THAT'S REALLY TAKEN CARE OF YOUR CLIENT ISN'T IT? Do you think they don't know it?
   7. BY THE WAY MY CLIENTS DO READ THE "WSJ" SO THEY ARE VERY PLEASED I LEFT..........They relate to the articles.
    6.  The don't have a nebie that Edward Jones put in my old Office, that's still wet behind the ears
   5.  They really love our customer statements, it really smokes Edward Jones statements
   4.  They love our financial plan, that is reinforced every quarter when we have our review
    3. They love that we don't bug them with unecessary crap that is mailed in their Quarterly statement.
     2. They LOVE NOT PAYING HIGH COMMISSIONS........
     1. THEY LOVE THE FACT THERE IS MORE THAN ON IR IN OUR OFFICE, AND ALL OF OUR STAFF IS LICENSED SO THEY DON'T HAVE TO CALL SOME DIM WIT IN ST. LOUIS TO GET AN ANSWER...... 
 HAPPY THANKSGIVING

The Answer's picture
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Joined: 2005-06-02

BigPayDay wrote:Lance Legstrong? Is it still about the capital, stupid? Take a look: http://www.edwardjones.com/cgi/getData.cgi?file=/pdf/stateme nt_financial_condition.pdf What was EJ capital before the settlement and what is it now? Idiot. Yup, didn't think so, Lance the loser! BPD
Lance,
Any comments?
BPD has a point here.
TA

Lance Legstrong's picture
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Joined: 2005-01-12

Gosh I have been out for a while and I have everyone still riled up which is good. I was bored with the same old BS.
You goofy EDJers need to understand how quick a brokerage firm can go out! Ever hear of Drysdale Securities?  $200 million in capital BOOM Gone in less than a week! Ever hear of Drexal?  10 times larger in revenue and profits than EDJ - they loose a law suit ...BOOM! Gone!  Ever hear of Stock Walk?  $50 million in capital gone in 2 days BOOM Gone!
It is always about the capital and guess what the California AG is going for about 1/2 of what EDJ has.  Also note that EDJ can not place any of the goofy LP units to the Kool Aid Kids because their law firm will not issue a legal opinion that there is no material liabilities.  [Sounds an awful lot like capital concerns to me]
Thanks for making me famous on this board.  All of you goof  Jones clowns make me laugh. You actually believe your own BS - a fatal flaw
 

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