Edward Jones Technology

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BigPayDay's picture
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Joined: 2005-01-10

EJ Technology pretty good:

1. Robust Financial Assessment Software: Sungard product used by some of the large wires. Very good product that Jones has integrated into their system. Client data/portfolio is automatically downloaded. Monte Carlo simulation, Retirement Income Planning, Debt manager, etc.

2. T1 lines replace satelite to all branches: Very reliable and fast.

3. JCMS: In house client/prospect contact software. Very good and user friendly

4. Wordpower: Very good client/prospect letter program. Compliance approved letters and paragraphs you can make into custom letters.

5. Scanning: BOAs (Branch Office Administrator) can now scan all paperwork into system in branch. Example: Client brings in statement from another firm, tax return, etc can now be scanned into the system and linked to the client or prospect.

6. New FAs have a very cool tablet PC: Take a look:
http://www.stltoday.com/stltoday/business/stories.nsf/manufacturingtechnology/story/403B5B42F9D3BB39862573B00013316A?OpenDocument

7. All client/prospect seminars can now be downloaded into a PC and shown on powerpoint: Investment classes and seminars are available.

8. Client website: Very user friendly. Clients can access accounts, statements, cost basis info, etc. Take a look:
http://findarticles.com/p/articles/mi_pwwi/is_200704/ai_n19011439

9. Statement Technology: Clients can select what statement (3 to choose from: At a glance to In depth) they would like to receive. Take a look:
http://www.bizjournals.com/philadelphia/othercities/stlouis/stories/2007/12/03/daily9.html?b=1196665076^1558882

10. Very professional CPA and Attorney CE Credit Courses produced by EJ home office and delivered directly to branches. Very good way to network and build relationships with centers of influence in the community. A great resource for the CPAs and Attorneys as well.

Weddle has the firm headed in the right direction.

troll's picture
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Joined: 2004-11-29

So... they finally caught up to the technology of 5 years ago, hmmm?
 
Your summary at least shows that there have been some upgrades to the 10-15 year old technology of last year.

donatello's picture
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Joined: 2007-12-22

Well Big Pay Day, that's so impressive. I loved the article about the 25 year old female at the door taking notes on her little laptop. I'm sure that's not intimidating at all. Pretty soon, EDJ will wire each person with microphone and camera and they won't even need to write.
 
I also loved the article from the Luxury Institute, but I couldn't help wonder how many people making 305k+ with portfolios of 3.2m who answered the survey were EDJ clients, or did the EDJ clients just bring the average down? Never mind, I already know the answer.
 
All these items mentioned above have been at my firm for years and years. Very interesting you didn't mention e-mail---something you just got within the last year and a half or so. Unbelievable.

BigPayDay's picture
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Joined: 2005-01-10

Hello there Mutant Ninja Turtle,

So are you saying that Dalbar has ranked your client statement number 1 and that you're client can select from three different statements?

So are you saying that you have professional, live CPA and Attorney CE credit courses in your office 4 times a year?

And remember of all the responders of the luxury institute survey Edward Jones was selected the #1 web site. Where was your website ranked? Jones has been slower to roll out technology, bt when they do it's very user friendly and clients really think it is effective.

What financial assessment/planning software do you use?

BigPayDay's picture
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Joined: 2005-01-10

donatello,

Who serves the afluent well? Take a look at this research piece:

http://www.phoenixmi.com/prfiles/02222005.pdf

Copy and paste this url. Interesting data.

Bull&Bear's picture
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Joined: 2007-10-26

The technology at EJ has improved dramtically over the past 3-5 years.  No, it isn't the best, but the tools that have been added are definitely aimed in the right direction.

nestegg's picture
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Joined: 2007-06-14

Welcome to the 2000's lol!

donatello's picture
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Joined: 2007-12-22

BPD-Slower to roll out technology??? No, slower is a year late, not 10 years.
And wow-3 kinds of client statements that clients with an average of $46k with you can read. And a good website. I was under the impression you were a financial advisor now. I don't know where we rank on websites, but ours is awesome. And I don't know where we are on statements, but my clients know how much money they are making on a monthly basis. Does that make it a good statement? And I can do CE credits for CPA's and attorneys anytime I want. We have them on the system--we teach them live with real people. I did one for CPA's last year.

compliancejerk's picture
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Joined: 2004-12-03

BPD,
 
http://registeredrep.com/wealthmanagement/Wealthy_Like_Ed_Jones_Schwab/index.html
 
the best part of the article is
 

"Edward Jones outranked its peers in each of the three “pillar” categories with ratings above eight, and it came out on top among both customers with net worth of under $1 million and those with over $1 million. But oddly enough, among full-service brokerages, the firm was the one least used by survey respondents."

troll's picture
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Joined: 2004-11-29

donatello wrote:BPD-Slower to roll out technology??? No, slower is a year late, not 10 years.
And wow-3 kinds of client statements that clients with an average of $46k with you can read. And a good website. I was under the impression you were a financial advisor now. I don't know where we rank on websites, but ours is awesome. And I don't know where we are on statements, but my clients know how much money they are making on a monthly basis. Does that make it a good statement? And I can do CE credits for CPA's and attorneys anytime I want. We have them on the system--we teach them live with real people. I did one for CPA's last year.
 
You just keep drinking that kool-aid.  I think you're about to graduate to get that pink line above your lip.  Gosh it sure tastes good, doesn't it? 
 
Perhaps you can get a job teaching CE for another firm if EJ doesn't pan out for you?

donatello's picture
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Joined: 2007-12-22

Skippy-you misunderstand. I'm not a Jonesie, but a happy former one. I was responding to BigPayDay above and commenting on his wonderful listing at the top of Jones' fabulous technology (sarcasm, sarcasm). Your posting makes no sense.

troll's picture
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Joined: 2004-11-29

Now I see it.  Thanks for the clarification.  Too much egg nog.

BigPayDay's picture
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Joined: 2005-01-10

donatello wrote: BPD-Slower to roll out technology??? No, slower is a year late, not 10 years.
And wow-3 kinds of client statements that clients with an average of $46k with you can read. And a good website. I was under the impression you were a financial advisor now. I don't know where we rank on websites, but ours is awesome. And I don't know where we are on statements, but my clients know how much money they are making on a monthly basis. Does that make it a good statement? And I can do CE credits for CPA's and attorneys anytime I want. We have them on the system--we teach them live with real people. I did one for CPA's last year.

donatello,
A couple questions for you:
So who are you with?
What's your gross?
What's your net, net payout?
Bet you don't answer....

donatello's picture
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Joined: 2007-12-22

you first. same questions as above.

compliancejerk's picture
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Joined: 2004-12-03

compliancejerk wrote:BPD,
 
http://registeredrep.com/wealthmanagement/Wealthy_Like_Ed_Jones_Schwab/index.html
 
the best part of the article is
 

"Edward Jones outranked its peers in each of the three “pillar” categories with ratings above eight, and it came out on top among both customers with net worth of under $1 million and those with over $1 million. But oddly enough, among full-service brokerages, the firm was the one least used by survey respondents."

 
Hey Big Pay Day,
 
How come you haven't commented on the above quote???
 
 

compliancejerk's picture
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Joined: 2004-12-03

BigPayDay wrote: donatello, A couple questions for you: So who are you with? What's your gross? What's your net, net payout? Bet you don't answer....
 
Hey Big Pay Day
why don't you respond to the same questions

compliancejerk's picture
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Joined: 2004-12-03

Hey Big Pay Day,
 
Why are you so silent with your response for the above two post?
 
 

Broker7's picture
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Joined: 2007-02-23

No big pay day

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