I was a Jones' Rep for 8 years and I just went INDY. It was amazing when I got a million dollar client in the office I was figuring out how many ways I could slice the pie so I could miss breakpoints. The amazing thing is Jones professes to be this honest/ethical firm and they only sell A-Shares. I can tell you that maybe one broker out of a hundred would put $1,000,000 at NAV and get paid 1% and .25 trail. Instead most successful top producers have figured out that in order to "get paid" on a million dollar account, they need to split the million over three fund families, buy some 3 point bonds and buy 5 or 6 stocks so that it appears diversified to the client but instead it is allowing the IR to "get paid"! They can miss the $500k breakpoint and justify to their Field Supervisor that they are diversifying the client. Jones reps continue to try and sell against Fee-Based programs because of the "WRAP-FEE." The problem is when they get a $1,000,000 client they F%#! the client on commissions by avoiding breakpoints purposely. If any current Jones reps disagree I would love to hear about it. Because at Regional Meetings and Diversification trips I never hear about 1,000,000 NAV trades!