[quote=xej1984]

candy bar,

VAs c'mon is that really the best you can offer?

[/quote]

Hey, if'en you don't like that there VA, he's always got them there three funds...

Stanbrown,



Speak english much?

bpd,

Seems stan comprehends anglis mucho better dan you.

[quote=BigPayDay] Starka,



Do you sell VAs?



[/quote]



Starka,



No answer yet?



Starka. R.I.P.



BPD

Yes.

A or B?



BPD

Dependent upon the circumstances, I’ve sold A, B and C.

You’ve sold A.



That’s funny.



Witch one?



BPD

Why do you find that funny?

You see, unlike you, I can do what is best for the client.

[quote=stanwbrown] 

Hey, if'en you don't like that there VA, he's always got them there three funds...

[/quote]

And that is apparently three times as many fund families to work with as your average Morgan Stanley rep.  What is it they say about glass houses?

http://registeredrep.com/mag/finance_trouble_house_purcell/i ndex.html

"Morgan Stanley's brokers and their branch managers got marching orders: 75 percent of their sales had to be proprietary product, say former employees, who requested their names not be printed. Those who met the target got fat bonuses; those who didn't often got fired."

[quote=jonesnewbie][quote=stanwbrown] 

Hey, if'en you don't like that there VA, he's always got them there three funds...

[/quote]

And that is apparently three times as many fund families to work with as your average Morgan Stanley rep.  What is it they say about glass houses?

http://registeredrep.com/mag/finance_trouble_house_purcell/i ndex.html

"Morgan Stanley's brokers and their branch managers got marching orders: 75 percent of their sales had to be proprietary product, say former employees, who requested their names not be printed. Those who met the target got fat bonuses; those who didn't often got fired."

[/quote]

You DO realize that you're talking about policies that changed at MS, versus policies still in place at Jones, right? You might want to reread your source material.

Now, after you've done that and found the error of your ways, care to find me an MS broker here who's bragging about selling just three funds?

BigPayDay.

R.I.P.

I'm an ex-Dean Witter broker. I left before the DW-MS union. Proprietary funds were a big deal and pushed hard. As a new broker, I remember one incident when my branch manager pointed his finger at me and told me to sell some new crappy DW fund or I'd be fired. So, I picked-out my largest client, sold him on investing $1,000 in this fund, and never heard another word from my boss. (Why sell it to my largest client? If the new fund crapped-out, he would take less of a hit percentage-wise.)

As I gathered more assets, the pressure on me to sell proprietary was less pronounced. When DW Leveraged Bond Funds (LBF) came out in the early '90's, I finally stood my ground and refused to sell the first share. I thought they were loaded time bombs, just waiting to go off.

DW pushed LBF's hard. The only mention of interest rate risk was in the fine print of the brochure and the prospectus. But, hey, who reads the prospectus? DW offered trips, bonuses, gifts, etc. to sell these "bond funds on steroids".

Well, about 4 years later was when the first of many shareholder LBF lawsuits "hit the fan".

I didn't start selling outside funds until they installed software to run hypo on mutual fund investments, in the early 90's. My epiphany was when I ran a hypo of every DW fund against the S&P 40 Utility Index and found that not one of DW's fund beat it, for any length of time.

[quote=stanwbrown]

You DO realize that you're talking about policies that changed at MS, versus policies still in place at Jones, right?

[/quote]

To quote you, if I may be so bold:  "close, but no cigar."

Jones policies have also been changed.  Sorry to rain on your self righteous parade, stanley.

[quote=stanwbrown]

You might want to reread your source material.

[/quote]

I would suggest you do the same.

[quote=stanwbrown]

care to find me an MS broker here who's bragging about selling just three funds?

[/quote]

If you are referring to BPD, he is so simple minded that he convinced himself you and I were the same person.  I think three funds are more than enough to occupy his mind.

EDWARD JONES HAS YET TO PAY ANYTHING..........

Edward Jones has not leveled with their IR's, and they have not told their clients  about their wrong doings........Thats a FINE

The SEC should double their Fines unless the FIRM  comes clean to their clients

THE TRUTH HURTS

 [quote=jonesnewbie] [quote=stanwbrown]<?:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />

You DO realize that you're talking about policies that changed at MS, versus policies still in place at Jones, right?

[/quote]

To quote you, if I may be so bold:  "close, but no cigar."

Jones policies have also been changed.  Sorry to rain on your self righteous parade, <?:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" />stanley.

[/quote]

Really? No more trips? They're not in part paid for by prefered fund families? You sure?  <?:namespace prefix = v ns = "urn:schemas-microsoft-com:vml" />

[quote=jonesnewbie] [quote=stanwbrown]

You might want to reread your source material.

[/quote]

I would suggest you do the same.

[/quote]

See above, do fill us in on the state of the trips, ok?

[quote=jonesnewbie] [quote=stanwbrown]

care to find me an MS broker here who's bragging about selling just three funds?

[/quote]

If you are referring to BPD, he is so simple minded that he convinced himself you and I were the same person.  I think three funds are more than enough to occupy his mind.

[/quote]

He’s simple and he’s yours.

[quote=doberman]

I'm an ex-Dean Witter broker. I left before the DW-MS union. Proprietary funds were a big deal and pushed hard. As a new broker, I remember one incident when my branch manager pointed his finger at me and told me to sell some new crappy DW fund or I'd be fired. So, I picked-out my largest client, sold him on investing $1,000 in this fund, and never heard another word from my boss. (Why sell it to my largest client? If the new fund crapped-out, he would take less of a hit percentage-wise.)

As I gathered more assets, the pressure on me to sell proprietary was less pronounced. When DW Leveraged Bond Funds (LBF) came out in the early '90's, I finally stood my ground and refused to sell the first share. I thought they were loaded time bombs, just waiting to go off.

DW pushed LBF's hard. The only mention of interest rate risk was in the fine print of the brochure and the prospectus. But, hey, who reads the prospectus? DW offered trips, bonuses, gifts, etc. to sell these "bond funds on steroids".

Well, about 4 years later was when the first of many shareholder LBF lawsuits "hit the fan".

I didn't start selling outside funds until they installed software to run hypo on mutual fund investments, in the early 90's. My epiphany was when I ran a hypo of every DW fund against the S&P 40 Utility Index and found that not one of DW's fund beat it, for any length of time.

[/quote]

I agree completely. DW was a firm in dire need of a shower with hot water and soap. There were, without a doubt, among the scuzzy element of the wirehouses.

[quote=Starka]

Why do you find that funny?

You see, unlike you, I can do what is best for the client.

[quote=BigPayDay] [quote=Starka]

Why do you find that funny?

You see, unlike you, I can do what is best for the client.

[/quote]

Starka,

You didn't answer the question. You said you have sold A, B and C share annuities. I asked which "A" share annuity you have sold and you have not answered.

So, what "A" share VA have you sold?

BPD[/quote]

The specifics of what I sell are no concern of yours.

Try to not act like a petulant child, and you might earn a modicum of respect.  Until then, however, you have leave to evaporate.

[quote=stanwbrown]

Really? No more trips? They're not in part paid for by prefered fund families? You sure?  <?:namespace prefix = v ns = "urn:schemas-microsoft-com:vml" />

[/quote]

At least you don't let your lack of understanding temper your outspoken opinion.

Let me explain:

Old Jones:  Jones shared revenue with its preferred funds.  Jones then added some of this revenue sharing money into the bonus pool.  If Jones, as a firm, was in a bonus bracket, and, if a broker qualified for a bonus, then that broker could get a bigger bonus by selling preferred funds.  Why?  Because they were credited with a portion of the revenue sharing on their profitability based on how much revenue sharing they actually brought in.  Sell more preferreds, get a bigger bonus.

Although this possibility of bigger bonus may not have been as egregious as paying brokers an extra 25% guaranteed right up front (e.g. Morgan Stanley's old policy), the potential for a conflict of interest was obvious.  Enter the regulators.

New Jones:  Jones still shares revenue with its preferred funds.  Jones still kicks a small portion of that revenue into the bonus pool.  However, the amount of revenue sharing that gets credited to a broker is solely based on production.  Selling more preferreds no longer has any bearing on the size of a bonus.  If two brokers have equivalent business, one doing exclusively preferred funds, and the other exclusively non-preferreds, they both get the same bonus.