Remember me???? 

I left the message board about six months ago, and vowed not to return until the last of 5 predictions I made came true.  Yesterday's $75 Million OFFER by Edward Jones was the last of the 5.

I specifically predicted $50-100 Million for this settlement, and was verbally stoned.  $75 Million plus California???  Looks like I wasn't too far off.

I shall, however, say "I told you so" only once, as the intention of this posting is not to gloat.

So what is the intention??  If there is anyone left at Jones with at least half of a mind, a half decent book, and half of your nerve left, this should be your wake-up call.  LEAVE. It only gets worse from here...........

ILLUMINATI

I think I owe all you Exjones  guys an appoligy for always talking about Jones! You where right to keep bad mouthing them and warning green horns about a horrible firm.

I am sorry !  

Thank God I am Indy! And yes I am Liking it!

My bet is Jone is out of business in 5 to 10 years! 

Merry Chirstmas!

Greenbacks:  If you are as good at financial planning as you are at spelling, capitalization, and basic grammer techniques, it's a good thing you're gone!

Illuminati:  Golly, Mr. Wizard, tell us what will happen next!  Should I really quit?  Please share with all the 20-somethings on this board your wisdom beyond your years!!

The only reason anyone would spend so much effort badmouthing Jones is because you were a FAILURE there.  And don't bother responding with a bunch of made-up production numbers.  Everyone here knows you're lying.  Go watch SpongeBob, junior.

Grammar, not grammer

You won't like this but even with the $75 million EDJ is still profitable this year.  Most of the money was set aside already.  Bonuses (which are are up, AGAIN) pay out tomorrow.  An extra bonus was announced for January.  We start 2005 with this portion behind us.  Sure there are still challenges from class actions and CA but not a day goes by that we don't have any number of lawsuits against us.  Any firm our size will always be a target. 

"You won't like this but even with the $75 million EDJ is still profitable this year.  Most of the money was set aside already.  Bonuses (which are are up, AGAIN) pay out tomorrow.  An extra bonus was announced for January.  We start 2005 with this portion behind us.  Sure there are still challenges from class actions and CA but not a day goes by that we don't have any number of lawsuits against us.  Any firm our size will always be a target"

Clearly a Stlouis  A s s ociate.     As far as I know theres no bonus being paid tomorrow for brokers at Jones.  Most certainly no extra bonus in January.  Go back to your cube.

Any firm our size will always be a target. Are you saying the smaller firms are targets??



               Revenues

Merrill        $27 billion

Morgan Stanley $34.9 billion

Goldman Sachs   $23 billion







Edward Jones    $2 billion

Hypocrisy...insincerity by virtue of pretending to have qualities or beliefs that you do not really have

Values...Set of beliefs or standards that the organization (i.e., organizational values) and its stakeholders (i.e., personal values) believe in and operate from. Organizational values are utilized to guide the day-to-day operations, serving as a linkage between Mission (i.e., present operations) and Vision (i.e., intended direction). Personal values are utilized to allow organizational members to understand how their own beliefs fit into the organizational values and its intended operations and direction.

Ignorance...the lack of knowledge or education

Your leadership has abandoned the values of Ted Jones and those of us who helped build that firm.  The leadership of the firm is a disgrace to the Jones name, and to his memory.  What's worse is the Hypocrisy of investment professionals who profess to give independent unbiased advice, while accepting bonus money and trips for selling inferior products to those who trusted them.  Now that you are faced with the truth about your firm, you can no longer use ignorance as an excuse to stay. 

You can figure out ethical on your own. When your firm makes no profit on it's operations without the kick back money, you must conclude that your bonus is dirty money....sleep well.  

I have been away from the forums here for a long time. But today's thrilling news has brought me back.

$75,000,000 settlement to the SEC. And the California Attorney General is suing the all knowing, always do what is right for your client, self righteous Edward D. Jones for $300,000,000!!!! This has made my day and then some! Merry Christmas Edward D. Jones!! And a happy($300,000,000) New Year.

I am could not be happier that I left that place and I am thiving as an independent broker.

Hey Mr. Hanky,

Care to wager on the bonus in January?  Apparently my cube is more aware of what's going on than yours.

Broker's Trimester bonus comes at the end of the month I believe.  St. Louis gets theirs tomorrow.  

Welcome back Illuminati & Westy

Hey Mr. Hanky,

Care to wager on the bonus in January?  Apparently my cube is more aware of what's going on than yours.

For brokers...there is no bonus in January A S Sociate.  Broker bonus is paid about Feb 15th for 3rd trimester. 

Are you from Field services dept?  Salesprevention would be an appropriate name if so. 

Mr. Hanky,

You don't need to get nasty.  If you were offered (additional) LP in the last offering (and accepted) you will be paid a "bonus" in January as though you had actually received it already.  At this point the amount is supposed to be the actual return on LP for 2004 (currently 19.83%). 

I'm not exactly sure why you are upset that I'm telling you there will be an extra bonus in January.

Im not upset.   Don't come on here like a white knight coming through a storm preaching all is well and times are good, in fact theres bonuses for all!  I'm tired of all the lies that are told and people like you who perpetuate them.

There were at least 3 inconsistencies from the "internal"  version that can't be printed by the way, and the article in the St Louis Post. Go read them both and then tell me Im wrong. 

By the way salesprevention, you are wrong.  The accrual of the phantom LP starts in Jan 05, it does not go back retroactive to 04. 

HEY YOU DRONES......

The only reason the Firm (Fraud) would pay Drones & Clones something for nothing (LP promised and not paid for ?), is because  ?

They are afraid you will wize up and  LEAVE !

Mark my words, the WORST is yet to come  !

California Dreaming is the tune..............................

[quote=RadioOne]

Illuminati:  Golly, Mr. Wizard, tell us what will happen next!  Should I really quit?  Please share with all the 20-somethings on this board your wisdom beyond your years!!

The only reason anyone would spend so much effort badmouthing Jones is because you were a FAILURE there.  And don't bother responding with a bunch of made-up production numbers.  Everyone here knows you're lying.  Go watch SpongeBob, junior.

[/quote]

#1 Should [you] really quit?  No.  After reading your complete pedantic response, my posting wasn't intended for you.  If you go back and read it carefully you will see I SPECIFICALLY intended it for Jones Reps with HALF a mind left.  My guess is, judging by your assumptuous and moronic diatribe, that your destiny is not that of the rats leaving the sinking ship, but rather the dead weight in the ship's hold which helps it to sink faster.

#2 "Please share with all the 20-somethings on this board your wisdom beyond your years!!"  I haven't been 20-something in a very long time, if that is part of what you are implying.  If it is mostly 20-somethings on this board, then it is they who have the chance.  It sounds to me that YOUR glass of kool-aid was emptied long ago.  DRINK UP!!

#3 Your dedication to scientific principles and discerning empiricism in assessing my character is overwhelming.  I warn Jones brokers to leave...therefore I am bad-mouthing Jones...therefore I must have been a FAILURE...  AMAZING!!!  Who is the "Wizard" now??

The beautiful part is your assumption that I will give you false production numbers, and then you can label me as a liar in advance.  How very convenient for you.

In my own defense (since you have drawn first blood, verbally):

I sincerely doubt I am YOUR junior. I left Jones making PLENTY of money (not yellow, or green or blue or purple...).  Finally, I would venture that any ONE of the SIX companies I am presently involved with is worth more than your book of business at Jones (Zero, I believe). 

Again, for anyone on the fence (twenty-something or not), LEAVE for your own good.  Jones has an archaic business model, an archaic communication system, and an archaic pay-out and support structure.  At this point, you can't go wrong by going ANYWHERE else.

Illuminati:

Wow! Six companies!!  Maybe after my company sinks I can ACAT all of my personal accounts to you!  Grow up, kid.

What a chucklehead I was. Instead of pushing inappropriate stocks on clients, Edward Jones could have pushed inappropriate funds on them. Stocks can't give kickbacks, but funds can. What Jones was doing was far worse than just recommending bad stocks.

Monday, this firm agreed to pay a gigantic fine, $75 million, and to stop this outrageous pay-to-play junk where preferred funds got tons of money in return for hefty fees on the back end. To think that this firm cloaked itself in conservative clothes is just outrageous. The company exhibited a stupefying two-facedness that makes me want to scream.

Of course, it will pay the fine and be allowed to stay in business. Everyone gets to stay in business. You would think it was in the Constitution or something, that it was written, that, no matter how outrageous the fiduciary violation, you still are good to go in the financial services business because once you are in, you are in.

When I started my radio show, I alleged that there were a lot of secret revenue-sharing agreements between brokers and funds because otherwise, the really crummy funds would have no customers. Who would deliberately stay with a crummy fund? Who is that stupid?

But I wasn't able to get the documents that told you who was paying to get money and who wasn't. We now have settled the problem when it comes to brokers. Next up? The kickbacks some of these human resources people have been taking to keep their companies with bad funds for the 401(k)s. Some of it will be kickbacks to the companies, others will be under the table. What else is new?

Would anyone mind taking a pledge with me to do what's best for the client over the long term, so both he and the client make big money? Is there anyone willing to raise his right hand and swear he will do his best for his client, not for his firm or himself?

From here, the silence sure seems deafening.

Player,  you are right they are afraid people will leave.   I’m glad I did 8 months ago, best career move I ever made.   I have a good friend still over there but he’s getting wiser every day.  In fact he told me about this board, said it would be like therapy.  He’s right.

So are jones clones reps getting a bonus or not? Boy I’m glad I left a year ago. They are in trouble. Bad place to be.