jones haircuts

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doubleb's picture
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Joined: 2005-05-29

question to the former jones brokers: what haircuts does jones give their reps on mutual funds? i knew that we get haircuts on annuities and life insurance. specifically, i was curious about service fees. we get 25 basis points on trails. i noticed that some fund companies pay 35 basis points on 12b1 fees. are you indies or wirehouse brokers getting 35 bps on any a or b shares funds?  any other haircuts the average unsuspecting jonser like myself is not aware of?   doubleb

Cowboy93's picture
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Joined: 2005-05-10

I think they like the combover and the bowl cut.  But only from a few preferred barber shops.

dollarbills's picture
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Joined: 2005-12-14

DoubleB
I know that there is 75 bps on each fund trade that we do not get with at least every A Share.  Majority of others get the full 5.75 if the charge is 5.75, not 5%. 

rightway's picture
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Joined: 2004-12-02

Cowboy93 wrote:I think they like the combover and the bowl cut.  But only from a few preferred barber shops.

That is funny.

BigPayDay's picture
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Joined: 2005-01-10

dollarbills wrote: DoubleB
I know that there is 75 bps on each fund trade that we do not get with at least every A Share.  Majority of others get the full 5.75 if the charge is 5.75, not 5%. 

All funds are sold by prospectus. Per the propsectus for American Funds American Mutual (check page 19).

Try this link:
http://adviser.americanfunds.com/literature/catalog.htm?cat= 5&r=h_t

It says for A shares under $25,000 dealer commission as a percentage of offering price 5%. Occasionally Mutual Fund companies will have specials, usually when they are introducing new funds, where they will pay full dealer reallowance. Jones has not allowed full dealer reallowance for some time feeling it was not in the best interest of the client.

Variable annuities are also sold by prospectus as well.

BPD

Dirk Diggler's picture
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Joined: 2005-12-30

BigPayDay wrote: dollarbills wrote:
DoubleB
I know that there is 75 bps on each fund trade that we do not get with at least every A Share.  Majority of others get the full 5.75 if the charge is 5.75, not 5%. 
All funds are sold by prospectus. Per the propsectus for American Funds American Mutual (check page 19). Try this link: http://adviser.americanfunds.com/literature/catalog.htm?cat= 5&r=h_t It says for A shares under $25,000 dealer commission as a percentage of offering price 5%. Occasionally Mutual Fund companies will have specials, usually when they are introducing new funds, where they will pay full dealer reallowance. Jones has not allowed full dealer reallowance for some time feeling it was not in the best interest of the client. Variable annuities are also sold by prospectus as well. BPD
 
Jones allows full dealer reallowance. They just allow themselves to have it and then haircut the brokers.

csmelnix's picture
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Joined: 2005-06-01

Dirk,
I'm beginning to like you, hell you can come over my house and *$%# my sister...
Beware of any BPD comments - he's a trainer at the jones home office.  "feeling it was not in the best interest of the client"  huh????
Somebody is getting paid that piece which affects the client the same!

Dirk Diggler's picture
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Joined: 2005-12-30

csmelnix wrote:
Dirk,
I'm beginning to like you, hell you can come over my house and *$%# my sister...
Beware of any BPD comments - he's a trainer at the jones home office.  "feeling it was not in the best interest of the client"  huh????
Somebody is getting paid that piece which affects the client the same!

Tell me more about your sister.

FREE's picture
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Joined: 2005-03-05

 What about 12b1 on the great edj money markets who gets those? What a nice surprise to find out I RECEIVE service fees on mm and the client gets a higher return!!! A course this happened after I left edj after 10yrs  

exdrone's picture
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Joined: 2005-07-01

You mean that the Jones money market doesn't yield less because it is invested in safer, lower yielding securities. Tell me it isn't so. 

Greenbacks's picture
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Joined: 2004-12-21

BPD
Wow are you gullible or ignorant either way no wounder Jones likes you! But you got to admit you come off looking like a BUTT KISSER  for Jones!
Sorry But that is what I see.

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