No Load Fund
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Moraen:[quote=Moraen] [quote=JackBlack] [quote=Moraen] [quote=Ronnie Dobbs] Well it has a 1.25 Annual Fee. It’s not like i won’t be making ANYTHING and It’s not like I was putting everything in it. I’d be making money the rest of his portfolio, but when I build a portfolio and if i feel that a portion of his money would do well in a no-load, i should have that right. I could understand if it’s risky…but not if it doesn’t have a load. Maybe it’s me i guess. I’ll gladly put someone in a fund, if it doesn’t have a load if A). I feel it’s appropriate and B). I’m being compensated somehow for the work I do. CD’s don’t pay anything, but they are appropriate for every portfolio. I try not to think of my compensation until after I build a portfolio…Maybe i’m wrong lol hell i dunno. Hell i’m not sure what the difference in a no-load fund is and hitting the Million Dollar breakpoint with American Funds lol[/quote] Not sure, but from your post you think you would makes some of that 1.25%. You won’t. There are no 12b-1 fees associated with no-loads.
<P style=“MARGIN: 0in 0in 0pt” =Msonormal>There are several No Load funds that pay 12b-1 fees. According to Morning Star over 700 funds that are No Load that pay 12b-1 fees. Below are two that I know of.
<P style=“MARGIN: 0in 0in 0pt” =Msonormal>Look at Artio Global Equity (BJGQX) and Artio Total Return Bond (BJBGX).
<P style=“MARGIN: 0in 0in 0pt” =Msonormal><?: prefix = o ns = “urn:schemas-microsoft-com:office:office” /><o:p> </o:p>
[/quote] I stand corrected. Eating my crow now.[/quote]
Still think Drew Barrymore is disgusting?[/quote]
Yes. Will never eat crow over that.
You have hit on a fundamental bias at Jones…you can transfer in Vanguard and Fidelity until the cows come in but you can’t add to them. If I want to buy them I can, the client is charged a transaction charge… BTW, he doesn’t have to be in a fee based account.
My old firm allowed no loads, but charged a $30 transaction charge - supposedly charged by the fund family (employees even had to pay it).
[quote=B24]Fairholme is a good fund.
And Windy, stop being so damn defensive. You are a like a little girl sometimes. One last thing - you state "I don't mind doing what is best for the client, even if I don't get paid for it".....that's called pro-bono work. That is not a sustainable business model. Doing the right thing for the client does not mean working for free. It means doing what is right for the client and getting paid fairly to do it. How many CPA's say "you know what, I just want to do the best job I can on your tax return, whether you pay me for it or not."[/quote] I'm not being defensive in the slightest. I wanted to start an interesting topic. I just can't get over the fact that no matter how many times I post that i'm not working for free, i continue to get posts saying "thats pro-bono" and "You need to be compensated. This thread was simply, "What if i put a small amount in it". Just because i throw 20,000-30,000 of a portfolio in 1 no load fund does not mean i won't be compensated. Again i'll say that you are forgetting the other investments within the portfolio that i did get paid on. By the way Noggin. Jones can't hold alot of Vanguard funds. We tried transferring in substantial account from Vanguard 2 weeks ago and we couldn't even hold half the funds, so we had to liquidate them to transfer it.You don’t go to a Ford dealership, buy an Explorer, and then ask the sales guy if you can buy a new Toyota from him… DUMMY
Not even close to being comparable to this situation.You don’t go to a Ford dealership, buy an Explorer, and then ask the sales guy if you can buy a new Toyota from him… DUMMY
Windy, it’s not about you. It’s not Edward Jones saying that Windy can’t sell this fund. It’s Edward Jones saying that they won’t be involved in a sale in which they don’t get compensated. It seems to be a smart business decision.
[quote=Ronnie Dobbs][quote=B24]Fairholme is a good fund.
And Windy, stop being so damn defensive. You are a like a little girl sometimes. One last thing - you state "I don't mind doing what is best for the client, even if I don't get paid for it".....that's called pro-bono work. That is not a sustainable business model. Doing the right thing for the client does not mean working for free. It means doing what is right for the client and getting paid fairly to do it. How many CPA's say "you know what, I just want to do the best job I can on your tax return, whether you pay me for it or not."[/quote] I'm not being defensive in the slightest. I wanted to start an interesting topic. I just can't get over the fact that no matter how many times I post that i'm not working for free, i continue to get posts saying "thats pro-bono" and "You need to be compensated. This thread was simply, "What if i put a small amount in it". Just because i throw 20,000-30,000 of a portfolio in 1 no load fund does not mean i won't be compensated. Again i'll say that you are forgetting the other investments within the portfolio that i did get paid on. By the way Noggin. Jones can't hold alot of Vanguard funds. We tried transferring in substantial account from Vanguard 2 weeks ago and we couldn't even hold half the funds, so we had to liquidate them to transfer it.[/quote] If you are newer to the business why not put them in advisory solutions and let Jones allocate their money in different fund companies. It's pretty tough to stay on top of 20 different fund companies when you are trying to build a business. You will have plenty of funds to choose from including the one you like.