Thanks for sharing. What a COMPLETE breach of confidentiality. I would take the little old lady by the hand, guide her to a computer, and show her how her "new" advisor just vomitted the prospective clients personal financial information over the world-wide web. Maybe I would show her son or daughter this post as well. If you don't like the portfolio, which sounds like it was designed to provide maximum income for her, then deal with is in a professional, confidential manner.

What a joke.  The same thing happened to my wife's grandmother - lost $200-300k because some j@ckoff put a 75 yo woman (at the time) in investments with very long mature dates.  She sued her rep and won a nice little settlement.  Her broker is now out of the biz.  Wouldn't that be a nice thing to see for that guy, indy?    I hate @$$holes like that.

I bet she hit a breakpoint on those fund purchases though.  Isn't that what really matters....

Bill,

Of course you would.  Her old rep worked for Jones. 

So would you do the same for an elderly person?

[quote=Bill Fakkland]

Thanks for sharing. What a COMPLETE breach of confidentiality. I would take the little old lady by the hand, guide her to a computer, and show her how her "new" advisor just vomitted the prospective clients personal financial information over the world-wide web. Maybe I would show her son or daughter this post as well. If you don't like the portfolio, which sounds like it was designed to provide maximum income for her, then deal with is in a professional, confidential manner.

[/quote]

WTF! GO DRINK SOME MORE KOOL-AID.

Unless that was  your client, there is no way you could know who that is.  Hmmm, maybe she was your client.

Go build some more of those great DIVERSIFIED portfolios and win another trip. BF

How would that info divulge who that client is.  And who in their right mind would defend that rep?!  If this is an example of the "SELF PROCLAIMED best sales force", then I'm glad I invest somewhere else.

[quote=Bill Fakkland]

Thanks for sharing. What a COMPLETE breach of confidentiality. I would take the little old lady by the hand, guide her to a computer, and show her how her "new" advisor just vomitted the prospective clients personal financial information over the world-wide web. Maybe I would show her son or daughter this post as well. If you don't like the portfolio, which sounds like it was designed to provide maximum income for her, then deal with is in a professional, confidential manner.

[/quote]

Thanks for the freakin sermon "O Pious One". 

And people actually ask why ther is so much animosity toward Jones. Gimme a break.

[quote=Indyone]

 $500,000 account with $350,000 in ten bonds ranging in maturity from 2019 to 2034.  Included in this total are two GMAC bonds bought at $50,000 face that are now worth about $30,000 each.

[/quote]

The rest of the account sounds horrible BUT, tread lightly with these bonds. If these are direct access bonds with death puts, I'd consider holding them. She'll get the higher yields of the longer maturities AND her family will get back 100% of the face if she passes away before maturity.

Also, I wouldn't sell those GMAC bonds.

chug chug chug yummie Kool-aide!  Whatever the mother ship wants us to sell we will sell it (jones corp motto)

It just occurred to me...you guys are complete losers in every sense of the word. Running to your computer to rat out a Jones broker (who probably kicks your arse year after year) shows me everything I need to know. There is ONE guy I respect on here, Zack. Period. He would never do anything so low.

[quote=Bill Fakkland]

It just occurred to me...you guys are complete losers in every sense of the word. Running to your computer to rat out a Jones broker (who probably kicks your arse year after year) shows me everything I need to know. There is ONE guy I respect on here, Zack. Period. He would never do anything so low.

[/quote]

Thank you.  If I do ever get respect from a Kool-aid chugger like you I will kill myself. Where did you take your last DIVERSIFICATION trip?

[quote=Bill Fakkland]Thanks for sharing. What a COMPLETE breach of confidentiality. I would take the little old lady by the hand, guide her to a computer, and show her how her "new" advisor just vomitted the prospective clients personal financial information over the world-wide web. Maybe I would show her son or daughter this post as well. If you don't like the portfolio, which sounds like it was designed to provide maximum income for her, then deal with is in a professional, confidential manner. [/quote]

Do you believe that I put the EXACT facts in that post?!!!  Sure, they are close enough to give you the flavor of what happened, but I was careful not to divulge anything that would pin down the identity of the account.  For example, the client could be 65 or she could be 75, etc.,etc.,etc.  How else do you think case studies are created?!!

Also, I sincerely doubt the Joneser would point out my post, even IF he thought he recognized the client, since my post would tend to point out some pretty serious weaknesses in his management.  There is no doubt that the portfolio was designed to maximize income...while ignoring risks such as inflation and diversification...do you honestly think this is in this lady's best interest?

As you've probably guessed, no, I don't like the portfolio and rest assured, I will deal with this prospect in a more professional manner that her present "advisor"...and no, I won't lose any sleep over not getting your endorsement, you Kool-Aid Chugger.

P.S. Mike, the death put thought had crossed my mind and I am investigating this, although from my past experience with the names I am seeing, most of them don't have that option...thanks for the input nevertheless...

Hmm, so now we are throwing rocks at each others accounts? Childish! EVERY firm has bad brokers. Like the RayJay account I recnetly  moved in. Sold off over 500k in American Funds and bought 3 different annuities. B share style for a 78 year old (Approx, don’t want to be too specific) WITH an estate tax issue. Can you say no step-up (and aggregation). Face it, we all have bad brokers, Jones is no different.

Bill F - you are an a Dick!  At least G1 can state honestly that this rep is a moron.  I don't know you, your business, background etc but boy you sound awfully self absorbed.  You wouldn't happen to be a former professor by any chance would you?  Your counter is great - it's like a pedophile cursing what a rapist did. 

Why don't you take your ball and go home now. 

Bill,

You make an ameoba look like an advanced life form. 

Indyone's profile indicates nothing about where he's from or who he is, in his post he refers to the subject as a 70 year old lady w/ $500k in a REIT, some Junk funds etc...  I guess you're right if that description fits one person in the whole world .  That description applies to multiple dozens of people who I've met with and/or are clients in my limited area alone.

My god, get a clue.  Point of this forum is to discuss our business, which does include talking about clients in an anonymous fashion.

sorry to insult, but you made yourself an easy target Bill.  You must be insecure about working for Edward D' Clones.

Edward D' Clones

Bill

Don't you know that by going on this board and posting comments violates the EDJ computer usage policy.  You are going to your "arse" fired.   Maybe I will just email a copy of this thread over to the compliance guys at HQ and put a stop to your prohibitive behavior you are jeopardizing the integrity of the firm!

Sweet Dreams!

Lance

The simple fact that you posted confidental client info is pretty puzzling to me. I transferred a similar type situation account from good old Raymond James, the rep was and is a scuzzbucket but that doesn’t make Raymond James one any more than this situation makes Ed Jones one. The fact that it happens even once is what I call poisoning the well. That well is client good will. I tire of brokers and insurance salesman who have no more interest in clients than how much will i make on this deal while the rest of us have to clean up the mess.