[quote=jonesnewbie][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.

[/quote]

Nifty, and it's not new information, but thanks for playing.

Now, if you'll answer the question still standing to you, doesn't Jones STILL run "trip" contests and aren't they STILL paid for by "preferred fund families"?????????

Stan, you know as well as I do that the "Diversification Trip" is nothing more than a glamorized due dilligence trip where St. Louis kicks in a few bucks from the mutual fund kickbacks, thereby transferring the tax liability to the brokers.

It's actually brilliant.  Throw the broker under the bus and get him to thank you for it.

Starka,

When's the last time you went on a due "dilligence trip" to Africa, or on a Mediterranean cruise, or to Machu Picchu, or Porofino, Italy with your entire family? This year we are going to Cambodia and on a Greek Isle Cruise.

There's only one reason all you Jones Bashers, or should I say Jones Failures, are discussing this.

Let me repeat:

envy
Pronunciation: 'en-vE
Function: noun

<?:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />

Painful or resentful awareness of an advantage enjoyed by another joined with a desire to possess the same advantage.

jealous
Pronunciation: 'je-l&s
Function: adjective

Hostile toward a rival or one believed to enjoy an advantage.

'nough said.

Out!

P.S. They should put your picture next to these two words in the dictionary!

I flew to Cambodia several times in the early '70s.

It was night time.

We didn't land.

JONES CLONES,

What about TRUTH & HONESTY, ALWAYS do what is RIGHT for your CLIENT.........how soon they forget............Ted Jones & Edward D Jones must be rolling over in their graves..

How the once PROUD FIRM has declined to deception, and half truths, slight of Hand and Mouth.......how the PROUD have fallen

I can't understand how any so-called Jones IR's can stand their FIRM not telling their clients the TRUTH............and allowing it to happen?

Bench Warmer,



What lies has Edward Jones told?



BPD

[quote=BigPayDay]Bench Warmer,

What lies has Edward Jones told?

BPD[/quote]

BigPayDay,

Did I say "LIES", I said TELL THE TRUTH

1) Has Jones told their clients about their "FINES" by the "SEC", AND EXPLAINED THEM TO THE CLIENTS?

2) Has Jones told their CLIENTS about Bill 3-Mil Hill's Personal 3 million dollar fine, and how he avoided being charged with FRAUD, in Missouri ?

Now, BigPayDay, I never said JONES LIED, they just have not fully disclosed to their CLIENTS, or to their IR'S just what they did or did not do, so why don't you enlighted us and disclose it now?   

And tomorrow I will send it to the WSJ, AND THE SEC....I WONDER IF YOUR STORIES WILL BE THE SAME?

[quote=stanwbrown][quote=jonesnewbie][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.

[/quote]

Nifty, and it's not new information, but thanks for playing.

Now, if you'll answer the question still standing to you, doesn't Jones STILL run "trip" contests and aren't they STILL paid for by "preferred fund families"?????????

[/quote]

WOW,   Someone needs to ggo back to school...IR get 38% STL gets 62% whatever BONUS, or TRIP you get, YOU PAID FOR IT!

[quote=Player]

[quote=BigPayDay]Bench Warmer, What lies has Edward Jones told? BPD[/quote]

BigPayDay,

Did I say “LIES”, I said TELL THE TRUTH

1) Has Jones told their clients about their “FINES” by the “SEC”, AND EXPLAINED THEM TO THE CLIENTS?

2) Has Jones told their CLIENTS about Bill 3-Mil Hill’s Personal 3 million dollar fine, and how he avoided being charged with FRAUD, in Missouri ?

Now, BigPayDay, I never said JONES LIED, they just have not fully disclosed to their CLIENTS, or to their IR’S just what they did or did not do, so why don’t you enlighted us and disclose it now?    

And tomorrow I will send it to the WSJ, AND THE SEC…I WONDER IF YOUR STORIES WILL BE THE SAME?

[quote=Player] [quote=stanwbrown][quote=jonesnewbie][quote=stanwbrown]

<P style=“MARGIN: 0in 0in 0pt” =“Msonormal”><O:P></O:P>

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” /><V:SHAPE id=_x0000_t75 stroked=“f” filled=“f” path=“m@4@5l@4@11@9@11@9@5xe” o:preferrelative=“t” o:spt=“75” coordsize=“21600,21600”><V:STROKE joinstyle=“miter”></V:STROKE><V:ULAS><V:F eqn=“if lineDrawn pixelLineWidth 0”></V:F><V:F eqn=“sum @0 1 0”></V:F><V:F eqn=“sum 0 0 @1”></V:F><V:F eqn=“prod @2 1 2”></V:F><V:F eqn=“prod @3 21600 pixelWidth”></V:F><V:F eqn=“prod @3 21600 pixelHeight”></V:F><V:F eqn=“sum @0 0 1”></V:F><V:F eqn=“prod @6 1 2”></V:F><V:F eqn=“prod @7 21600 pixelWidth”></V:F><V:F eqn=“sum @8 21600 0”></V:F><V:F eqn=“prod @7 21600 pixelHeight”></V:F><V:F eqn=“sum @10 21600 0”></V:F></V:ULAS><V:PATH o:connect=“rect” gradientshapeok=“t” o:extrusionok=“f”></V:PATH><O:LOCK aspectratio=“t” v:ext=“edit”></O:LOCK></V:SHAPE><V:SHAPE id=_x0000_i1025 style=“WIDTH: 12.75pt; HEIGHT: 12.75pt” ="#_x0000_t75" alt=""><V:IMAGEDATA o:href="http://forums.registeredrep.com/smileys/smiley36.gif " src=“file:///C:\DOCUME~1\STEVEN~1\LOCALS~1\Temp\msohtml1\01\ clip_image001.gif”></V:IMAGE></V:SHAPE><O: P></O:P>

[/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.

[/quote]

Nifty, and it’s not new information, but thanks for playing.

Now, if you’ll answer the question still standing to you, doesn’t Jones STILL run “trip” contests and aren’t they STILL paid for by “preferred fund families”???

[/quote]

WOW, Someone needs to ggo back to school…IR get 38% STL gets 62% whatever BONUS, or TRIP you get, YOU PAID FOR IT!

BigPayDay,

YOU FULL OF "BS" BONUS IN 2004 WAS NEXT TO NOTHING, AS FOR YOUR "LP" you count that as earnings ?  Anyone reading this that has ever worked at JONES, or is there now, knows you are full of it!

It just PROVES what I have been saying on here, all the HONEST IR'S HAVE LEFT THE BUILDING......  you confirmed it !

[quote=BigPayDay] [quote=Player]

[quote=BigPayDay]Bench Warmer, What lies has Edward Jones told? BPD[/quote]

BigPayDay,

Did I say "LIES", I said TELL THE TRUTH

1) Has Jones told their clients about their "FINES" by the "SEC", AND EXPLAINED THEM TO THE CLIENTS?

2) Has Jones told their CLIENTS about Bill 3-Mil Hill's Personal 3 million dollar fine, and how he avoided being charged with FRAUD, in Missouri ?

Now, BigPayDay, I never said JONES LIED, they just have not fully disclosed to their CLIENTS, or to their IR'S just what they did or did not do, so why don't you enlighted us and disclose it now?    

And tomorrow I will send it to the WSJ, AND THE SEC....I WONDER IF YOUR STORIES WILL BE THE SAME?

Bench Warmer,



You need to seek some psychiatric help. I think you may end up hurting someone. Yourself or someone else.



Try this:



http://www.depression-helper.com/



Hang in there, the sun will come up tomorrow.



BPD

As usual, ChumpChange attacks the poster when he's been proven wrong.

Tragic.  Very sad.

BigPayDay,

the TRUTH......

ANSWER THE QUESTIONS....

SHOW US SOME HONESTY....

bpd,

This board is for the exchange of ideas. Yes unfortunately it is currently predominately about one firm in particular. Have you ever reached a conclusion as to why that might be?

Have you any friends/relatives or even personally gone through a divorce where the "other" person mistreated/lied/unfaithful or was a completely changed person than when they first married. Well that's how a number of us relate to being treated by the firm we write so much against.

It's good to hear that you're having a great time with this firm. I didn't and neither did the others. (and it would seem that there are more in the near future)

If what we've presented on this board is not correct, why have us "vocal opponents" were asked to provide info to WSJ and other newspapers? Why hasn't the firm we write about asked for/demanded a retraction from Forbes or The WSJ ???

I have to go along with BPD on this one. Player is wacked.

Speaking of BPD, I wonder what happened to the little pinhead?

[quote=Philo Kvetch]Speaking of BPD, I wonder what happened to the little pinhead?[/quote]

I think he may have overdosed on green Kool Aid.  Or, maybe his head swelled up to the point that he can't get through the doorjam.

Hey DRONES, BigPayDay Did answer the Questions, and guess what The Player is RIGHT ON...........................................

BigPayDay

Thanks for some Honesty, however you weaseled on them, so you need to go back and do some homework and read the December 2004 & Jan 2005 "WSJ" ! I assume you do read it, you can contact them and go back and get past articles.   I DID NOT MAKE THIS UP!

The State Attorney General of Missouri was set to Fine  the Firm and charge Doug Hill and several other GP's with FRAUD, This is a FACT stated in the "WSJ" !   Why would Doug Hill resign if he did nothing wrong?   Know one outside of Jones believes that crap about falling on the sword, not even Jones IR's I know buy that.  State Attorney Generals often worth with the Feds, like the SEC, look at the State Attorney General in New York 

BigPayDay,

I have never stated on here that I think all IR's at Edward Jones are BAD, I have stated that the current Leadership have tarnished a once GREAT FIRM, and based on YOUR ANSWERS, you have confirmed that!

I have many friends still at Edward Jones, and there is still NO REQUIREMENT, or anything for the CLIENT to sign and read, that FULLY DISCLOSES revenue sharing?  

Hopefully you do disclose to your clients, and have fully told them about the FINES, because I have never seen anything come out from the Home Office stating anything about it?   I have many clients I have had keep an account at Jones just to see if and when Jones discloses FACTS to clients, they haven't yet, if you know when and how they did that please tell us all ? 

Joedog,

Go read the WSJ, very often State Attorney Generals work in conjunction with the SEC, especially with  FRAUD on consumers...NOT FULLY DISCLOSING FACTS. you must be new, so do your own education, go back and read the WSJ, checkout past articles, go back and read the article on RR that stated Jones settled right before Christmas, so the impact on their clients would be reduced because of the holidays...that's real ethical Leadership, or was it smart disclosure? 

You decide............But first get all the FACTS!

The firm management has made some serious errors. The reason Doug resigned effective later this year was because there were some mistakes made on the response to the allegations from the SEC. The regulators frown on companies and or people who do that. Doug was looking at being held personally accountable. How many companies survive when their CEO is indicted?

The truth is that EDJ gets a ton of bad press on these forums. Ironic that when the surveys come out, that both client and IR's feel EDJ in spite of its misgivings, is still at or close to the top in satisfaction. I admit, I was very bitter when it first came out, and I did not like the lack of information we received. But when you realize, for greed or whatever the reason, that the industry has accepted this practice of revenue sharing, EDJ is just one of the gang. It certainly does not make it right...just somewhat understandable.

All you former Jonsers will cry until the end of time about how unfair life was when you were at Jones. I agree.

All you former Jonsers will cry until the end of time about how unfair the firm is with goodknights versus new brokers in new offices. I agree.

All you former Jonsers will cry until the end of time about how unfair the firm is with limited partnership (LP). I agree.

All you former Jonsers will cry until the end of time about how unfair the firm is regarding IR's spending time for the good of the firm fostering the culture of helping others. I agree.

All you former Jonsers will cry until the end of time about how unfair the firm is regarding our LACK of technology. I agree.

In spite of the above, I have chosen to stay. Guest1 are you shocked? Let's just say that for me, since I am not forced to recruit, and am not forced to sell company products, and I can and do choose mutual funds that are not preferred, that I feel better about the climate at Jones. I hope things continue just the way they are.

If disclosure is required so be it. The truth is clients don't read it. We have disclosed until the cows come home since December, and the overwhelming response is "stop the paper flow!". They have heard enough.

The firm management has made some serious errors. The reason Doug resigned effective later this year was because there were some mistakes made on the response to the allegations from the SEC. The regulators frown on companies and or people who do that. Doug was looking at being held personally accountable. How many companies survive when their CEO is indicted?   What about the Attorney General of Missouri, not to mention the California Attorney General's claims?  Please do not state a Company Line, that no one believes except Kool Aid Drinkers.

The truth is that EDJ gets a ton of bad press on these forums. Ironic that when the surveys come out, that both client and IR's feel EDJ in spite of its misgivings, is still at or close to the top in satisfaction. I admit, I was very bitter when it first came out, and I did not like the lack of information we received. But when you realize, for greed or whatever the reason, that the industry has accepted this practice of revenue sharing, EDJ is just one of the gang. It certainly does not make it right...just somewhat understandable.  The FACT is Edward Jones the FIRM has still not leveled with their beloved clients, what do you think your clients relationship is going to be when they find out you didn't tell them this had happen, loyalty goes away when you deceive people! 

All you former Jonsers will cry until the end of time about how unfair life was when you were at Jones. I agree.  I didn't have a problem with this, except the lack of a Succession Plan!

All you former Jonsers will cry until the end of time about how unfair the firm is with goodknights versus new brokers in new offices. I agree. I didn't have problem with this either, it allowed me to get rid of my bottom 10 to 15% that took up my time!

All you former Jonsers will cry until the end of time about how unfair the firm is with limited partnership (LP). I agree. I never had a problem with this either!

All you former Jonsers will cry until the end of time about how unfair the firm is regarding IR's spending time for the good of the firm fostering the culture of helping others. I agree. I never had a problem with this, in fact since I left I have discovered this concept is just not at Edward Jones!

All you former Jonsers will cry until the end of time about how unfair the firm is regarding our LACK of technology. I agree.I never had a problem with this either!

None of the above did I have problems with, it was the dishonest way the GP's & Managing General Partner's dealt with Wholesalers (Mutual Funds & Annuities) demanding their AGENDA at any cost, and we all know what that cost was, don't we?

I just got fed-up with the arrogance of STL and their lack of communication to the field on the investigation, we had always been told there was no wrong doing, the FIRM is above all that, it just wasn't TRUE, was it? 

In spite of the above, I have chosen to stay. Guest1 are you shocked? Let's just say that for me, since I am not forced to recruit, and am not forced to sell company products, and I can and do choose mutual funds that are not preferred, that I feel better about the climate at Jones. I hope things continue just the way they are. You need to look out for yourself, and do what is best for you and your clients, Jones did not build your business you did! Jones betrayed the TRUST of the Clients, and the IR's, not the other way around 

If disclosure is required so be it. The truth is clients don't read it. We have disclosed until the cows come home since December, and the overwhelming response is stop the paper flow!. They have heard enough.   Try setting down FACE to FACE, and tell them what happen, how you benefited as a FIRM, as an IR in them buying certain products pushed by the FIRM, not more paper to read, just honest dealing FACE TO FACE, JUST LIKE WHEN YOU OPENED THEIR FIRST ACCOUNT WITH YOU....the TRUTH WILL SET YOU FREE.....

When you state you (tHE firm) are sending them more paper to read it sounds like the Firm is overloading them with articles, and not just coming out with the TRUTh...COULD THAT BE THE plan?

[/quote wrote:

Player-

I kept all but one of my clients. Yes it hurt to defend the company brass. But you have once again proved my point. Your goal is to make EDJ look bad because YOU feel that they have not been forthright and mistreated you.

What more do you want. I am telling you I did not benefit directly with revenue sharing. I have been on due diligence trips and diversification trips and the grip you feel the GP's have on us just isn't there. Myabe the new IR's but after awhile we get what's going on.

Tell me where its better? The wirehouses? Indy? I have checked them out and it seems that nothing is substantially better, different, but not better, at least for me.

I used to be very interested in these forums, but I have hit the point where I can guess fairly well where the agendas are, and I think its time to set some of the record straight. Jones ain't perfect. This industry isn't either.

I have a question for BigBayDay,

As a licensed individual you would not want to misrepresent yourself to the general public which would also include this online forum.  For clarification, are you a General Partner at Edward Jones?  Have you ever been a General Partner at Edward Jones?  If not a GP, are you now a LP? 

Thanks in advance...

I'm sorry BigPayDay, I saw you were on since I last posted this question and you must have missed it.  Would you mind answering it now?  Thanks in advance

Hey DRONES & CLONES,

go read:  BigPayDay Defend Jones Answers Questions

THE TRUTH WILL SET YOU FREE.............

Try to answer some questions like BigPayDay, I respect the fact he answered and did not just slam but actually stated FACTS, even though he was not aware or atleast said he wasn't of everything, but when Leadership keeps you in the DARK, that is what happens....we all should know:

Absolute Power Corrupts Absoutely, and there is no stronger Power than a Privately held Partnership, that doesn't have to be accountable to anyone, until the SEC came calling....change of plans