EJ wins JD Power Cust Sat Award

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frankstrom's picture
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OK, just came from breakfast and saw an old EJ buddy training a new EJ drone.  He could not contain himself in telling about the JD Powers Customer Satisfaction Survey.
This is like the punk kid on your sons football team making the winning touchdown.  You just know that they are going to be throughing this in the face of everybody.

Guest1's picture
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Joined: 2005-01-16

I am sure it is rigged just like the RR mag survey, Fortune survey and Dalbar etc etc etc

Bill Fakkland's picture
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Joined: 2005-01-18

I'll be throwing this in everybody's face, but I'll throw it knowing how how to spell the word throw. What a dork.

BrokerRecruit's picture
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Joined: 2005-04-19

Looks like their brokers aren't the only ones that are drinking the kool-aid from a beer bong.

frankstrom's picture
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Do real people still use the word "dork"?  Wow William, you know how to slam a guy.  I don't know how I am going to get up from that one.

Soothsayer's picture
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Joined: 2005-02-24

What always killed me about Jones was that any positive publicity was all absolutely true.  All of it.  Every word.  Anything negative written about the company was not credible--in fact an outright lie.  Just look at their reaction to the whole revenue sharing thing.  You can't have it every which away.  If you're going to go running around like that punk kid mentioned in the previous post saying, "See I told you, see I told you!" then you also have to accept some of the criticism.  Jones has never accepted any criticism with the slightest hint of humility.   

Starka's picture
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I'm curious...does anyone know how JD Power gets it's data? 
Companies that expect to do well can manage, I'm sure, to have clients included in the polling.  But what of companies like Schwab and Waterhouse?  I can't see them telling the pollsters, "Hey!  Call over to the Smith household!  They hate our guts!"

BigPayDay's picture
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Soothsayer wrote: What always killed me about Jones was that any positive publicity was all absolutely true.  All of it.  Every word.  Anything negative written about the company was not credible--in fact an outright lie.  Just look at their reaction to the whole revenue sharing thing.  You can't have it every which away.  If you're going to go running around like that punk kid mentioned in the previous post saying, "See I told you, see I told you!" then you also have to accept some of the criticism.  Jones has never accepted any criticism with the slightest hint of humility.   

Tooth Decayer,

What did Jones says was "an outright lie" regarding revenue sharing?

compliancejerk's picture
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Joined: 2004-12-03

bpd,
not only don't you lool-aid swillers comprehend sarcasm, yous guys clients don't read The WSJ (or that's what your lame duck managing principal claimed)      

BigPayDay's picture
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CJ,

Could you please trnslate your comment into english for me? Maybe then I will respond.

BPD

ashton's picture
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Joined: 2005-04-20

It seems simple to me why a company would be hesitant to admit wrong doing. They don't want consumer confidence to drop. That protects the company and the reps. Did Bush admit to wrong doing in Iraq! Sounds like EJ was hoping to ride out the revenue sharing thing as quitely as possible. What's wrong with that? Probably the best thing for the company and their reps. Sounds like a smart business decision to me.

compliancejerk's picture
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Joined: 2004-12-03

bpd,
LOL ...  as must be anyone from the "dark-side" of EJ. Are you taking writting lessons from Fakklands as you are just as funny!
As for translating, I guess you would have to have been reading this forum for a number of years to fully understand.
as for the WSJ bit, check out http://registeredrep.com/mag/finance_accused/index.html 
what 30 year bond are suggesting everyone to buy TODAY?

zacko's picture
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Joined: 2004-12-01

You guys are all wrong,
Clients for the most part don't really care about Edward Jones.  92% of my clients didn't care or show any loyalty to Jones when I went indy.
The POINT that all you are missing is that if clients are happy it simply means that they are happy with and like/trust their adviser.  Jones brokers have always enjoyed a more personal relationship with their clients due to the one-man office arrangement.  It creates an intimate setting that clients enjoy.  There's your dalbar results right there.
Many clients already view Jones brokers as franchise owners as they don't really understand the relationship.  I remember when a second Jones office opened up in my town--I was first).  Clients asked--HOW could they do this to you?  They saw me as the one they were happy with and Jones as the clearing firm who prints their statemnts and tries to sell them credit cards.
The "my firm is better than your firm" mentality that occurs here circumvents an obvious and often understated fact.  Most clients don't do business with firms--they do business with their advisers. 
Now, if you are talking about what is the best platform to run an office from.....that's a different scenario altogether.  It's indy all the way--no comparison.
 

frankstrom's picture
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Joined: 2004-11-30

Zacko, amen.
We need to seperate the IR from the company. 

zacko's picture
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Joined: 2004-12-01

Frank,
That's a big part of being indy is all about.

BigPayDay's picture
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Soothsayer wrote: What always killed me about Jones was that any positive publicity was all absolutely true.  All of it.  Every word.  Anything negative written about the company was not credible--in fact an outright lie.  Just look at their reaction to the whole revenue sharing thing.  You can't have it every which away.  If you're going to go running around like that punk kid mentioned in the previous post saying, "See I told you, see I told you!" then you also have to accept some of the criticism.  Jones has never accepted any criticism with the slightest hint of humility.   

Sooth,

What did Jones says was "an outright lie" regarding revenue sharing?

Havn't come up with anything yet?

BPD

compliancejerk's picture
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Joined: 2004-12-03

bpd,
you're right they never lied.
So could you please explain why
1) your firm agreed to a $75 million dollar settlement
2) your managing partner returned $3 million from his last year's compensation
3) your managing partner agreed to step down in the same settlement
                  

Bill Fakkland's picture
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Joined: 2005-01-18

Don't Jones customers read this message board? Bunch of idiots. All they seem to care about is good service and solid investments. Don't they understand that Jones payout is lower and they don't have email? Stupid customers.

Malcolm's picture
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Joined: 2004-12-02

"Solid Investments"  Yea right.  High net worth clients in general do not go to EDJ.  You guys are pikers and the big money knows that.  You can keep plunking along year after year after year Bill.  See how you feel when you have 3000 clients and virtually no trails built up and all you can see in front of you is more of the same for the rest of your career.   More power to you I guess if that is all you want out of your career.        &nbsp ;   

Bill Fakkland's picture
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Joined: 2005-01-18

Malcolm, you have said a lot of really dumb things before, but this one beats all. 3000 clients with no trails? How about 30,000,000 in MFs at year 4 with a LOT of trails and 567 clients, give or take. When I have "3000" clients, I'll be fine. Unless I jump from firm to firm like Liz taylor jumps husbands.

elliemae's picture
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Joined: 2004-11-30

Bill Fakkland wrote:Malcolm, you have said a lot of really dumb things before, but this one beats all. 3000 clients with no trails? How about 30,000,000 in MFs at year 4 with a LOT of trails and 567 clients, give or take. When I have "3000" clients, I'll be fine. Unless I jump from firm to firm like Liz taylor jumps husbands.
The first thing you find out after going indy is how much you were screwed and lied to by EJ.  I was told that the MF co's kept .75% of the sales charge off the top. The rest was paid to Jones and I got a 40% payout on that.   AmFunds A-shares are 5.75% max. Jones gets 5% and you get a 40% payout.  Did I do the math right?
Then, I go indy and the MF company isn't taking the .75%.  I get the whole thing.  At Jones, you really get screwed at the 100K breakpoint.  Load is 3.5% and you get 40% of 2.75%.
Bill, check out how much you were screwed.  .75% times $30,000,000.  You could buy a nice house with that
 

Bill Fakkland's picture
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Joined: 2005-01-18

Ellie, the sad truth is that I'm really not being screwed frequently enough. Thats not your fault, though. I think you may be forgetting the bonus, though...mine is going to be about a months net/net commissions here in April. That is substantial. I may buy a playhouse for my daughter and a new barbecue, and maybe a deck of smokes.

BigPayDay's picture
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Joined: 2005-01-10

compliancejerk wrote: bpd,
you're right they never lied.
So could you please explain why
1) your firm agreed to a $75 million dollar settlement
2) your managing partner returned $3 million from his last year's compensation
3) your managing partner agreed to step down in the same settlement
                  

CJ,

Read the post!

Soothsayer wrote:
"What always killed me about Jones was that any positive publicity was all absolutely true. All of it. Every word. Anything negative written about the company was not credible--in fact an outright lie."

What I asked Sooth was "What did Jones say was "An outright lie". I did not say Jones lied or didn't lie.

Since Sooth can't answer the question, can you? What did Jones say was "An outright lie".

BPD

P.S. Sooth, if you're still alive, can you answer the question? You are the one that brought it up.

Soothsayer's picture
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Joined: 2005-02-24

I would like to answer your question, but can't.  It may compromise my identity, do damage to a broker or two still at Jones, and stir up a bunch of ugliness that I just don't want to start.  I'll leave it at that.  I would love to give you name, day, setting, and context of what was said, but can't with the the lawsuit in California still pending.

zacko's picture
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Joined: 2004-12-01

Another 65 gross month for me.....No fancy bonus brackets or varying payouts depending upon share class or firm policy.
53k net less my office expenses of about 10k.  So, 43 net pretax.  That's kinda like getting one of those fancy bonus checks too...but I wonder why they keep sending me one of those every month?  Go figure?
So, please don't tell anyone as it might be a mistake!

zacko's picture
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I just checked....
It's actually not a mistake! 
I actually keep about 80% of my commissions instead of 38%.  No "bonus" check though....oh well. Can't win em all.

troll's picture
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Joined: 2004-11-29

zacko wrote:
I just checked....
It's actually not a mistake! 
I actually keep about 80% of my commissions instead of 38%.  No "bonus" check though....oh well. Can't win em all.

No bonus?  Awwww.....that sucks!  Man I feel for ya.    
Are you crying all the way to the bank?

troll's picture
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Bill Fakkland wrote:Ellie, the sad truth is that I'm really not being screwed frequently enough. Thats not your fault, though. I think you may be forgetting the bonus, though...mine is going to be about a months net/net commissions here in April. That is substantial. I may buy a playhouse for my daughter and a new barbecue, and maybe a deck of smokes.
That's great man.  You 'jes keep sellin' them three preferred funds, kay?

Guest1's picture
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Joined: 2005-01-16

Sooth, how convienient

Soothsayer's picture
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Guest1 wrote:Sooth, how convienient
Sorry, but it's just not worth it to put people's livelihoods and careers at risk over some silly, bullsh*t ego battle. 

troll's picture
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Soothsayer wrote:
Guest1 wrote:Sooth, how convienient
Sorry, but it's just not worth it to put people's livelihoods and careers at risk over some silly, bullsh*t ego battle. 

Stand your ground Sooth....smart man!  Don't take the bait.

Guest1's picture
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Bait?? Sooth just found a way to say whatever the heck he wants and doesn't have to prove it. I call that convienient

BigPayDay's picture
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Soothsayer wrote: I would like to answer your question, but can't.  It may compromise my identity, do damage to a broker or two still at Jones, and stir up a bunch of ugliness that I just don't want to start.  I'll leave it at that.  I would love to give you name, day, setting, and context of what was said, but can't with the the lawsuit in California still pending.

Sooth,

All this Jones bashing and now you are called to the carpet and you are pleading the fifth. Pretty wimpy. "It may comprimise my identity". What a crock.

Let me ask the question again:

What was stated in the press that was negative for Jones that Jones said was an outright lie?

Soothsayer's picture
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And, I will answer you one final time.........The incident I am speaking of is so freaking real and specific, that if I mentioned who said it, what he/she said, and when they said it, it would be obvious to anyone who was present, and they would recall the incident as well.  Then, throught the power of transitive logic, they could figure out who all heard what was said, and then figure out who is no longer working at Jones.  Got it?  Have a nice life!

Starka's picture
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BPD, Soothsayer has been quite clear that he cannot answer your questions without compromising other individuals.  He has taken an honorable postition.
Why do you persist in calling him a liar?  Is everyone with whom you disagree a liar?
If your attitude is a representative sample of the firm you represent, I must say it's pretty sorry.

Soothsayer's picture
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Starka--
Thanks for understanding and "getting it."  If what I'm speaking of is that dangerous, believe me it's real.

BigPayDay's picture
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Starka wrote: BPD, Soothsayer has been quite clear that he cannot answer your questions without compromising other individuals.  He has taken an honorable postition.
Why do you persist in calling him a liar?  Is everyone with whom you disagree a liar?
If your attitude is a representative sample of the firm you represent, I must say it's pretty sorry.

Starka,

In what post did I call Sooth a liar?

Starka's picture
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Joined: 2004-11-30

Most recently, your post of April 30 2005 at 1:21am.

Guest1's picture
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Sooth, you stated that Jones was called on something in the PRESS and said it was a lie. By stating what the "lie" was how are you compromising someone? If Jones publically stated it was a lie, who are you exposing?
Starka, sorry I missed where BPD called him a liar. I won't go that far but it is pretty chicksh*t to say something like that and then plead the fifth.
I have a reliable source that says 80% of Sooths business is in B share annuities. BUT, I can't reveal my source 'cause someone might get hurt.
Get it! Stupid tactics that make this board so fun to read.

Starka's picture
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Yes, I've noticed that you Jones people have trouble with reading comprehension.

Player's picture
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Joined: 2004-12-08

Someone needs to findout how many of those custimers read the WSJ, because according to 3 Mill Bill Hill Edward Jones Investments customers don't read that nasty rag.................. 
Their Clients aren't smart enough, and don't require the TRUTH....   
With all the Jones Lovers on here and not one of you has the guts to admit The Firm should tell it's clients the TRUTH.......Hopefully the SEC reads this and wakes up........ and slaps them with another FINE.........OH, THAT WAS THE truth.......... 
WHEN WILL THEY EVER KNOW................. NEVER, If it is up to Mr 3 Mill Bill Hill and his FRAUDLENT band of GP's
By the way have any of you Jones Drones explained how Mr 3 Mill Bill Hill paid 3 Million to keep his fat 277 out of jail, and you still defend him ?
I don't know who is smarter, your clients that don't read the WSJ, or Jones Ir's that are not GP'S.....

babbling looney's picture
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Joined: 2004-12-02

Aaaaagh!!!! My eyes!!!! 
          
Please post with fewer emoticons.  It will really make your post more readable.

BigPayDay's picture
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Starka wrote: Most recently, your post of April 30 2005 at 1:21am.

Starka,

I can not locate this post. I have looked and looked. I do not recall calling Sooth a liar.

BPD

BigPayDay's picture
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BigPayDay wrote: Starka wrote: Most recently, your post of April 30 2005 at 1:21am.

Starka,

I can not locate this post. I have looked and looked. I do not recall calling Sooth a liar.

BPD

Starka,

What was the topic of the thread?

BPD

Guest1's picture
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BPD, it is not there

Starka's picture
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"Sooth, All this Jones bashing and now you are called to the carpet and you are pleading the fifth. Pretty wimpy. "It may comprimise my identity". What a crock. "
                                     --BPD, April 30 2005 at 1:21am
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
Now that either means that tow of you can't read, or you're the same simple creature posting under two names.
Which is it?

Starka's picture
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Typo: Two

BigPayDay's picture
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Starka,

Where's the post where you said I called Sooth a liar?

BPD

Starka's picture
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I quoted it for you a couple of posts ago.
Or does "what a crock" mean "I agree with you completely"?

BigPayDay's picture
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The post you listed does not exist.

BPD

Starka's picture
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BigPayDay wrote: Soothsayer wrote: I would like to answer your question, but can't.  It may compromise my identity, do damage to a broker or two still at Jones, and stir up a bunch of ugliness that I just don't want to start.  I'll leave it at that.  I would love to give you name, day, setting, and context of what was said, but can't with the the lawsuit in California still pending. Sooth, All this Jones bashing and now you are called to the carpet and you are pleading the fifth. Pretty wimpy. "It may comprimise my identity". What a crock. Let me ask the question again: What was stated in the press that was negative for Jones that Jones said was an outright lie?
 
Clearly BPD, if you're that simple, we have nothing further to discuss.

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