Skip navigation

Another Thing I miss

or Register to post new content in the forum

158 RepliesJump to last post

 

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
May 17, 2006 4:21 am

Make friends with someone that has access to it. Listapp is the one with all the info though I think.

May 17, 2006 1:53 pm

Another invasion of privacy. I guess they have the right to do what they want. But as an employee you would think WE would have the right to see what is being said.The spokesman for our region (notice I did not say leader) uses listapp against us. Some associates in SL have access to listapp and out in the field, anyone who is on the GP's leadership team has it. Usually they conveniently forget to turn it off when someone leaves the team.

What I think is absolutely wrong is the GP/RL has access to everything I do.  He can see trades, he can look at my clients accounts, etc. Anyone else see a problem with this?

I know when talking to IR's that have listapp, it was always couched prior to the breach, (you didn't hear this from me) I would inevitably find out production numbers in our region. Like it really matters.

May 17, 2006 5:43 pm

[quote=peanutbroker]Spiked, and others for that matter....How do you find out what is in your Call path id file? What is used now since the old green screens are dying off? Do individuals have the ability to look at what is in their own file?

You can TRY asking your IRD Leader in STL. That is the one you really want to see. You may have to submit a written request via HR. But I wouldn't do that unless you have a really good reason. It will send a flag. Often STL will just give you a verbal "There's nothing in there".BTW the only people on Leadership Team that can get the REAL FULL CallPath is either the RL or the Growth Leader.

May 17, 2006 6:10 pm

Best laugh I have had in awhile.

May 17, 2006 7:30 pm

Muny speaks the truth...I have another funny one.  When I was in St. Louis for a meeting (segment 3), I ended up staying out at the casinos all night and didn't get back to the hotel until 5 a.m.  I called the training center and told them I was sick and I wouldn't be at the training until the afternoon.  Well, good ole Jack Cahill called my room and I wasn't there.  He then called the front desk and the guy that drives the shuttle van told Jack that he had dropped me off at the Hooters down the street for lunch. 

Cahill asked me about this and I didn't deny anything.  I told him I like the chicken wings at Hooters and that I was just starting to feel well enough to eat.  I told him that I was planning on attending the afternoon training sessions.  Cahill typed all of this stuff on my ListApp and my Regional Leader had to call me and say that Hooters was not an acceptable place to have lunch.  The RL said that I should've used better judgement.   Looking back, I think Big Brother is always watching.

Peanut,

The best way to find out what's in your file is to befriend folks back in St. Louis and just kind of do it gently.

May 17, 2006 7:41 pm

Spike- BEE-U-TEE-FULL! So I take it you DIDN'T get your Top Gun Hat and Ted Jones Boxing Glove shirt?

May 17, 2006 7:44 pm

On another Note Spike: was this all night excursion BEFORE your trip to Monte Carlo? See WHY the GP on the trip asked if you had a gambling problem? It was in your callpath and they were watching.

Note to Peanut: Get friendly with your IRD person in STL but NEVER trust them. They can enter info on your callpath too. And EVERYTHING you say WILL be used against you in a court of crap.

May 17, 2006 7:51 pm

[quote=spikedkoolaid]Muny speaks the truth…I have another funny one.  When I was in St. Louis for a meeting (segment 3), I ended up staying out at the casinos all night and didn’t get back to the hotel until 5 a.m.  I called the training center and told them I was sick and I wouldn’t be at the training until the afternoon.  Well, good ole Jack Cahill called my room and I wasn’t there.  He then called the front desk and the guy that drives the shuttle van told Jack that he had dropped me off at the Hooters down the street for lunch. 

Cahill asked me about this and I didn't deny anything.  I told him I like the chicken wings at Hooters and that I was just starting to feel well enough to eat.  I told him that I was planning on attending the afternoon training sessions.  Cahill typed all of this stuff on my ListApp and my Regional Leader had to call me and say that Hooters was not an acceptable place to have lunch.  The RL said that I should've used better judgement.   Looking back, I think Big Brother is always watching.

Peanut,

The best way to find out what's in your file is to befriend folks back in St. Louis and just kind of do it gently.[/quote]

Man, do I know that feeling of paranoia...even when you feel like you've done nothing wrong.  That sounds like the same old crap I dealt with at the bank.  My thought is, any time you are EMPLOYED by someone else, assume that EVERYTHING you say and do can be monitored...email, phone conversations, whatever.  The technology exists (well, maybe not at some firms) to watch pretty much everything you do.  A couple of months ago, I sat in my office eating lunch and watching the start of March madness...completely guilt-free.  That is just one of the reasons why most folks go independent for reasons other than the money.

May 17, 2006 8:33 pm

A couple of months ago, I sat in my office eating lunch and watching the start of March madness...completely guilt-free.  That is just one of the reasons why most folks go independent for reasons other than the money.

That's right.  I have a fully stocked bar and refrigerator in my office and on Fridays after 4pm some of the good ole boys and gals like to stop in the office and have some "refreshments" gossip and generally just shoot the breeze for about a half hour.  They usually have just gotten off of the golf course. These guys and gals have mostly 7 figure accounts with me. They are my best referal sources and sometimes bring in their golfing buddies who open an account later.  Can you imagine being able to do that at EDJ?

May 18, 2006 4:03 am

[quote= A couple of months ago, I sat in my office eating lunch and watching the start of March madness...completely guilt-free.  That is just one of the reasons why most folks go independent for reasons other than the money.[/quote]

AMEN, BROTHER. 

May 18, 2006 12:19 pm

Call associate relations. If it is part of your HR record they have to tell

you about it. If they don’t give it to you, you can call the new super secret

complaint line about employee ethics.

May 18, 2006 1:55 pm

GT-

You are assuming it is part of the HR record. I would not doubt that they use it for inside communication between management.

I am sure they conveniently lose the data when pressed. They are worried about employee ethics, they ought to look in the mirror first.

May 21, 2006 3:23 pm

Just finished the manadatory firm element on financial incentives. Now I am required to tell my clients that there is a potential conflict of interest when they buy one of the eight preferreds (excuse me now there call focus fund families).

Here is my dialogue:

Mr. and Mrs. Smith, EDJ is just like a grocery store. When I offer you an investment with Putnam, in addition to the commission, the on-going service fees, my firm receives an incentive which equates to over half of our net revenue, and  95% goes to the equity partners in the firm. My firm feels it important to provide (inferior) these eight fund companies to you because they provide me and my firm with not only financial incentives but they support us at most of our meetings and trips.

The compliance department has advised us NOT to use the grocery store analogy because the stores don't provide any analysis about the products they offer. Other than American and Franklin (a recent addition to our product line), the only fund family I have not been burned with so far, I would conclude that our mutual fund department asks who will pay the most for our mind space (instead of shelf space at the grocery store) as a way to stay in the fold. Certainly, Federated, Hartford, Putnam, and Van Kampen are mediocre at best. So what is so different than the grocer?

Oh yeah, Mr. and Mrs. Smith, one more thing. Please disregard the blatant conflict with Hartford. The general partners forgot to tell us to tell you that they owned a stake in the mutual funds from the very beginnning and received income every year for almost ten years before terminating the relationship with a 70M payment. You will find this information buried in the small print of our disclosure. One final issue, let's plan our lunch next week at MickeyDees to spend the $32 you are going to receive as your share of the 75M settlement. Any questions? Great and I almost forgot, Who else do you know that would like to take advantage of this awesome opportunity? After all, this is an industry problem not just EDJ.

May 21, 2006 4:42 pm

Footsoldier,

Thank you kindly for that nice Sunday morning laugh!

May 21, 2006 5:40 pm

Footsoldier,

Well said, couldn't agree more.

May 21, 2006 7:15 pm

Footsoilder thats a good one.  Sound exactly like what the home office would ask you say to your prospect. Yea, sure just keep on selling those fund familys.  Keep the flow moving to the GP's....

Will it ever end....

May 22, 2006 3:16 pm

Footsoldier,

Good stuff.  I will add a joke of the day...

Edward Jones Product Review

...they should just call it what it is, the "kick back" generating dept.

May 22, 2006 9:02 pm

It's a crazy thing when you think about it but all EDJ really boils down to is a way for the GPs to create personal wealth through kick-backs via their loss leader the IR.  It's really ingenious.  Take out those kick backs and what do you have?  Surly not a viable company.  That's all EDJ really boils down to.   Isn't that kind of the way Amway works??  

Great remarks Footsoldier.    

May 22, 2006 9:33 pm

Malcolm-

And when one takes the time to read the recently filed 10K and you see the companies owned under EDJ holdings, your realization of their business model is exactly what you assert. EDJ Brokerage represents 20% of net profit.

Where does the rest come from? Ah ,the devil is in the details. If the kickbacks were eliminated this firm would be very different than it is today.

A question for the masses.

What other securities/brokerage firm does EDJ Holdings own?

May 23, 2006 2:19 am

footsoldier -

What are the other securities/brokerage firms EDJ Holdings own? What was the story on the Money Market account?