Blarmston and Greenbacks,

Notice this IH doesnt have an I in his name?  He is an imposter who does not work at jones, but enjoys coming on this board and yankin everyones chain.  Have you figured it out now?

[quote=Maxstud]Blarmston and Greenbacks,

Notice this IH doesnt have an I in his name?  He is an imposter who does not work at jones, but enjoys coming on this board and yankin everyones chain.  Have you figured it out now?
[/quote]

boy, nothing gets by those irs in green!

Hey, my suits are not crappy.  I get them at S&K, two for $200.  The salesman is great and understands me.  He even gives me free ties with the suits on special sales. 

You only get 2 suits for $200? Man.

[quote=Greenbacks]

Maybe I have been lucky! I asked American Funds to give a client seminar and my whole saler came and presented and paid 75% of the cost. I have met with the him twice so far this year! One thing I will say for his credit He always sends a thank you card at least once a month. He is a worker!    

As far as American funds ruling! I use seveal fund companies! Not just American funds IH! Today I invested more into IVY & Franklin then American funds.

IH, you will be gone in three months and I must say I will not miss you, But I know Jones hires morons like you every day and there will be some one else just as ignorant to replace you in three months. On this board we have heard from so many rookies ranting on & on about how great Jones is and then all of a sudden they are gone! And you will be too.     

[quote=Incredble Hulk]Hey, my suits are not crappy.  I get them at S&K, two for $200.  The salesman is great and understands me.  He even gives me free ties with the suits on special sales.  [/quote]

WHAT? No Edward Jones tie? tsk tsk

American funds is an above average family--but no way do they deserve the asset in flows they have achieved. 

Combine the fact of poor wholesaler service, minimal support for client events, and bloated asset sizes (precursor for upcoming poor performance)--my question would be why do they STILL GET over 1/2 of all load fund business?  It makes no sense to me at all.  On top of that, they have no true small or mid value domestic funds. 

Capital Income builder and Income fund of america have over 60% of their holdings identical.  Large overlaps in other american funds as well.

Sometimes I think brokers are just as bad (if not worse) as clients when "following the herd." 

Please tell me where I am incorrect? 

You’re not.  They get about 25-30% of my business and based on the above, and the lack of support for my next event, they’ll get considerably less going forward.  The two wholesalers who are co-sponsoring the event (and have similarly good performance) will see the business that AmFunds is losing, although as I said before, I doubt if AmFunds even cares at this point…sad…

They don’t even need the assets anymore…what they make in mangement fees has to be colossal.

Hey, I wonder if they're inflating themselves by creating their own demand for the stocks they own.  They have so much money, when they buy a stock there's suddenly an increase in demand and a decrease in supply. 

Yall follow?  As they buy a stock, it's price keeps rising as they buy it.

Sure, they have to be fundamentally sound picks, but it seems to me that someone who's figured out who their new favorite stock is could make a killing picking it up early in the game. 

Or is that idea old hat?

Ace

Ace, that is an excellent point.  The Microsoft of MF’s.



American Funds pays trails?

[quote=Incredible Hulk] [quote=Greenbacks]

Maybe I have been lucky! I asked American Funds to give a client seminar and my whole saler came and presented and paid 75% of the cost. I have met with the him twice so far this year! One thing I will say for his credit He always sends a thank you card at least once a month. He is a worker!    

As far as American funds ruling! I use seveal fund companies! Not just American funds IH! Today I invested more into IVY & Franklin then American funds. 

IH, you will be gone in three months and I must say I will not miss you, But I know Jones hires morons like you every day and there will be some one else just as ignorant to replace you in three months. On this board we have heard from so many rookies ranting on & on about how great Jones is and then all of a sudden they are gone! And you will be too.     

[/quote]

I'm just going to assume you're speaking about the other guy. I've got 5 years in (probably a rookie by some standards). If I'm gone in 3 months, it's because I accept the check MS or ML keep offering. While I'll freely admit that 60-70% of my fund flows go to American, I'm certainly not alone. I don't have the numbers at hand, but at one point like 50% of all flows nationwide were going to American. And it seems like just recently 90% of all fund flows were going to American, Vanguard and Fidelity?   
Get off your high horse and maybe I'll buy one of those expensive 2 for $200 suits from you next month.[/quote]

Um, I'm calling BS here.  MS doesn't recruit Clones.  A few years ago jones got pissy about losing IR's to MS and threatened to pull Van Kampen as a pref fund company.  Morgan has agreed to not recruit IR's anymore to keep money flowing to the venerable Enterprise Fund.

[quote=exdrone] [quote=Incredible Hulk] [quote=Greenbacks]

Maybe I have been lucky! I asked American Funds to give a client seminar and my whole saler came and presented and paid 75% of the cost. I have met with the him twice so far this year! One thing I will say for his credit He always sends a thank you card at least once a month. He is a worker!    

As far as American funds ruling! I use seveal fund companies! Not just American funds IH! Today I invested more into IVY & Franklin then American funds.

IH, you will be gone in three months and I must say I will not miss you, But I know Jones hires morons like you every day and there will be some one else just as ignorant to replace you in three months. On this board we have heard from so many rookies ranting on & on about how great Jones is and then all of a sudden they are gone! And you will be too.     

[/quote] I’m just going to assume you’re speaking about the other guy. I’ve got 5 years in (probably a rookie by some standards). If I’m gone in 3 months, it’s because I accept the check MS or ML keep offering. While I’ll freely admit that 60-70% of my fund flows go to American, I’m certainly not alone. I don’t have the numbers at hand, but at one point like 50% of all flows nationwide were going to American. And it seems like just recently 90% of all fund flows were going to American, Vanguard and Fidelity?    Get off your high horse and maybe I’ll buy one of those expensive 2 for $200 suits from you next month.[/quote]

Um, I’m calling BS here. MS doesn’t recruit Clones. A few years ago jones got pissy about losing IR’s to MS and threatened to pull Van Kampen as a pref fund company. Morgan has agreed to not recruit IR’s anymore to keep money flowing to the venerable Enterprise Fund.

MS ACTIVELY recruiting Jones brokers? Now that is BS. Jones brokers

average production is below $350K. Didn’t MS just whack a bunch of those

guys? At Jones once you get past the very few elite you are left with people

that no one wants. Including the banks.

[quote=exdrone]Um, I'm calling BS here.  MS doesn't recruit Clones.  A few years ago jones got pissy about losing IR's to MS and threatened to pull Van Kampen as a pref fund company.  Morgan has agreed to not recruit IR's anymore to keep money flowing to the venerable Enterprise Fund.[/quote]

I'm not Jones or MS, so I've got nothing personal in this.  However, this doesn't pass the smell test.  Any B/D (except maybe Goldman) will take a broker that is putting up good numbers.

[quote=blarmston]

“American Funds RULE”

IH, you remind me of the 4 EDJ guys who have come over... They sit in the corner during sales meetings in their crappy suits with these confused looks on their faces... all four are failing miserably out of our program...

[quote=munytalks]

Back in the day when we could get some 'assistance' from our Preferred Product Partners, I asked Metlife, Lord Abbett and American Funds to pitch in a little shindig we put together. Total cost was just over $5000, so anything they could give would be great.

Metlife came, spoke, handed out little Snoopies and cut a check. Lord Abbett came, spoke and cut a check.

American Funds came and spoke. The wholesaler gave me a sleeve of golf balls with American Funds stamped on them. One Sleeve. Not a box. Not a Case. Not one sleeve for each client. One (1) Sleeve.

I still have it. Unopened. I plan to sell it back to Jones to put in the History of Edward Jones Museum.

[/quote]

Freakin Priceless 

A buddy of mine did a client event and recieved highlighters.  We still joke about it today.

[quote=zacko]

American funds is an above average family--but no way do they deserve the asset in flows they have achieved. 

Combine the fact of poor wholesaler service, minimal support for client events, and bloated asset sizes (precursor for upcoming poor performance)--my question would be why do they STILL GET over 1/2 of all load fund business?  It makes no sense to me at all.  On top of that, they have no true small or mid value domestic funds. 

Capital Income builder and Income fund of america have over 60% of their holdings identical.  Large overlaps in other american funds as well.

Sometimes I think brokers are just as bad (if not worse) as clients when "following the herd." 

Please tell me where I am incorrect? 

[/quote]

I wouldn't post, but you wanted to know where you were incorrect.  I agree that American doesn't deserve the inflows they have recieved, b/c the wholesalers don't do SH%^!  I also agree that brokers follow the herd.  I think it is crap they hold trails for the first year, and I think the ship is getting to big. 

Where I differ is the often exageration of "Overlap", ya it's a real thing but people don't take certain things into perspective.  The real overlap between Income Fund of Amer and CAIBX is 39% based on March 31st of 2006, and that is alot.  So, 39% of the fund is the same right?  Not really.  Chevron makes up 1.42% of Income fund, but it makes up .38% of Capital Income; however, overlap doesn't take into account the weighting of those positions in each fund.  So, ya I hate American cause "generally speaking" there wholesalers don't hike for anything.  But the overlap example you gave was exagerated a little.

Hey Rev,

  Real original by the way, picking on the Growth Fund of American's 5 year number, your sharp buddy.  Let me know some of your favorite fund companies that you work with.  I doubt any of those families have a fund that hasn't performed well over some 5 year time frame, seriously.  I'm not in hear to defend Jones and American, but ignorant comments like your post about Bond's outperforming AGTHX over 5 years is just asking for it.  How is AGHTX's 1 year, 3 year 10 year, lifetime?????  No, you won't mention that, just pick a crappy time frame and exploit it.  Get a life.

[quote=The Truth] MS ACTIVELY recruiting Jones brokers? Now that is BS. Jones brokers

average production is below $350K. Didn’t MS just whack a bunch of those

guys? At Jones once you get past the very few elite you are left with people

that no one wants. Including the banks.[/quote]



MS has some kind of “rising star” program. I don’t know all of the ins and outs, but they are looking for brokers with shorter LOS with $250k or better I believe. mikeb could probably better inform you on the details. Is MS “actively” recruiting all Jones brokers, no. But if you think they don’t want some…