Ej 10-k

Also see the note at the bottom about 3mil Hill.  Would be in the top 3, but not required to be named because he’s no longer an “executive”.  He must be at least 8mil Hill now, with no responsibilities.

Almost 50 million for the top five and I have to pay top dollar for health insurance. Pay for a meeting without a vendor for once in your lives.

Here are a couple recent headlines:

   "Merrill Lynch Co. recently disclosed that the total salary and bonus package for its chairman and CEO, E. Stanley O'Neal was $28.14 million last year"

    "John Mack, who replaced ousted Morgan Stanley chief Philip Purcell in June, pulled in more than $68 million, including $37.8 million in restricted stock and $30 million exercising stock options."

    "The proxy statement for Goldman Sachs Group Inc. (The) uses the old SEC executive compensation rules. In 2006, Lloyd C. Blankfein raked in $54,320,955 in total compensation."

I could list all the major executives in the financial industry, and almost all would be making more than at Jones.  Even Waddell & Reeds CEO made over 5 million last year. 

Wow, 50 mil.  You don't earn that by working off of 10% tips.  

COMPETITION:

"With minor exceptions, customers are free to transfer their business to competing organizations at any time. There is intense competition among firms for salespeople with good sales production records. In recent periods, the Partnership has experienced increasing efforts by competing firms to hire away its financial advisors."

This is copied directly from Jones' 10k.  They currently have 10,320 Financial Advisors.  I think the growth of 500 advisors in the past 5 years has come from Canada and the UK.  The US is described by the comment above.  Any Financial advisor in their right mind would not want to stay after reading that 10k.

"The Partnership derived 66% of its total revenue from sales and services related to mutual fund and annuity products in 2006 and 64% in 2005 with 30% of its total revenue in 2006 and 2005 being derived from one vendor"

Can you spell proprietary fund A-m-e-r-i-c-a-n.

Spike, soon they will  make every newbie sign a non compete for life. We know the reason they are stuck at 10 when they train 250 each month 10x's a year. NO newbies make it <2%. When what is acutually happening is that 4-6 brokers are going through 30-40% of the branches. Well, that 5-6th broker will make it because of all the accounts and assets left behind. I don't buy there boasting. I have lived it and have read many posts from new news that talk about the new new playing second fiddle because the other guy 2 blocks over got an office and gets all the glory at the meetings.

Again, I only tip 10% now.

[quote=spikedkoolaid]

COMPETITION:

"With minor exceptions, customers are free to transfer their business to competing organizations at any time. There is intense competition among firms for salespeople with good sales production records. In recent periods, the Partnership has experienced increasing efforts by competing firms to hire away its financial advisors."

This is copied directly from Jones' 10k.  They currently have 10,320 Financial Advisors.  I think the growth of 500 advisors in the past 5 years has come from Canada and the UK.  The US is described by the comment above.  Any Financial advisor in their right mind would not want to stay after reading that 10k.

[quote=joedabrkr] [quote=spikedkoolaid]

COMPETITION:

"With minor exceptions, customers are free to transfer their business to competing organizations at any time. There is intense competition among firms for salespeople with good sales production records. In recent periods, the Partnership has experienced increasing efforts by competing firms to hire away its financial advisors."

This is copied directly from Jones' 10k.  They currently have 10,320 Financial Advisors.  I think the growth of 500 advisors in the past 5 years has come from Canada and the UK.  The US is described by the comment above.  Any Financial advisor in their right mind would not want to stay after reading that 10k.

[/quote]

I am in STL, the home of the evil empire.  I coach my daughter's soccer team, and my son plays on another team where I assist.  When looking at my son's roster I noticed that one of the mom's worked at the kool-aid empire, and then it was out of my mind.

Tonight was my son's practice, and I was hanging out on the side ready to help.  Got to chatting with some parents, and all of a sudden this lady goes "ooooohhhh YOU are the one with LPL!  I work for EdJones and I noticed your email address on the team roster."

Hmmmm....I guess the defections have gotten their attention?
[/quote]

...yes, Joe, YOU are with the evil empire!!!

Can some one tell me ...for as much as Jones is hated.. here ...where would these boards be without them.. I mean really .. It seems that is all that is discussed...*sigh*...just an observation...

Non-religious groups may also display cult-like characteristics, I say.

I overheard a couple of GP's discussing the disparity of income at the top...and well their happy as hell and don't give a damn about Spiffy!!!

The managing partners care very much about me. They got a trip category filled by hiring me. My 62% goes to fill their garages. Their revenue sharing helps my clients to trust me. Your disloyalty is disturbing, bspears, you vill be sent to re-education in the gulag.

Space-

Can you explain how revenue sharing helps your clients trust you? This is interesting...

[quote=footsoldier]

Space-

Can you explain how revenue sharing helps your clients trust you? This is interesting...

SPliff…get the hell out of here!!!  You nappy headed ho!!!  I LOVE EDWARD JONES!!   I LOVE REVENUE SHARING!!  I LOVE CONTESTS!!  I LOVE TRAILING 4 NUMBERS!!!  I LOVE EVERYTHING ABOUT SPIFFY AND HIS WIFE!!!  By the way…watching Bloomberg this am…Noticed Merck has had a great run since way back when EDJ downgraded them to a sell…got a lot of longtime shareholders out of it…made my month as the Jones breathren would say…

Longtime shareholders?  You mean the ones who bought it back in 99 in the 70’s or the ones who bought it in 2005 in the 30’s?  I haven’t been following MRK because until last year the stock had been horrible.  3% return over 10 years and negative numbers for the last 5.  If they were long time shareholders they probably hated the stock anyway. 

What was the recommendation in 99 from bald head…Buy…and then when it gets to the low 30’s …put it to a sell…BUy and hold my ass!!

That awesome research team did the same with YUM and MO

I'll never forget the analysts changing YUM to a sell and stating in his report that fewer people are eating at Taco Bell, Pizza Hut & KFC because everyone in the US in so health conscious.  UHHHH........mr. analyst did you forget about the rest of the world where they eat that crap daily?  That was late 2002 when the stock was $20.  Today it is $60!

[quote=Gone Indy]I’ll never forget the analysts changing YUM to a sell
and stating in his report that fewer people are eating at Taco Bell,
Pizza Hut & KFC because everyone in the US in so health
conscious.  UHHHH…mr. analyst did you forget about the rest
of the world where they eat that crap daily? 

[/quote]

The chinese are bonkers for KFC. YUM is very well positioned for growth the sectors where people are still eating that crap and finally being able to afford KFC.

I hate to do this..but...EDJ SUCKS!!!!

My all time favorite strong buy recco from ol’ Alan was Lucent (LU).

I would have to think there would be some pretty sharp individuals at EDJ, maybe janitors, who sit around and look at each other…and say…wow…there’s alot of dumbass recommendations flowing out of here…and then…rock paper sissors…who will wash weddles cars this weekend…

You are all stupid and ignorant. Obviously, the main criteria for recommending a stock is the amount of PE. The higher the better. So Tiffany’s, which we recently pegged as a buy, is trading at 27 times earnings. Perfect. Hopefully the next stock we recommend will be trading at 30 or more.

ss-

Calling others ignorant makes you appear even more stupid. I'll ask the question again that you haven't answered...Tell us why revenue sharing is good for your clients or helps them trust you. We are all waiting...

Obviously, Footsoldier, you are a “red.”

Revenue sharing allows us to provide clients with due diligence obtained from outside vendors with exclusive access to brokers. By limiting our knowledge of product to only those offered by our 8 partners, Edward Jones keeps us from making an effort to learn about the outside world and keeps us focused on our primary job…selling Capital Income Builder.

Anyone who does not buy American funds is an idiot.

Spaceman,

 You are so fulla SpLiff. I think you're cool.

[quote=Starka]My all time favorite strong buy recco from ol' Alan was Lucent (LU).[/quote]

I remember sitting in one of those god forsaken meetings in St Louis (1999) and all of us IRs were treated to a special visit from Dave Powers.  I will always remember his exact quote..."if you people are not putting your clients in Lucent, Worldcom, and AT&T you are missing the boat".  I swear that those were his exact words, I couldn't make that up if I tried.

Why bring politics into it dipsh*t. You are so far inside EDJ bowels you can't see out of it. If you think CAIBX is the bomb, I won't disagree, but to make a blanket statement that anyone who doesn't buy AF is an idiot, says volumes about you. You have no frickin brain. You rely on the management to tell you what is right for your clients assuming you actually have some you that you didn't inherit after you left the cozy confines of SL.

If you can, find out the trading costs of your beloved (and mine) CAIBX. I'll give you a hint, 1.75% all in. So even the best have expenses that are large. Personalfund.com might be a good place to start or look at the whitepapers written by the managers at DFS.com.

And do you really think that all firms don't have due diligence trips. Most don't kick it back as well. So your argument is full of as many holes as your lame responses.

I won't resort to bspears tactics, but I do have almost 15 years in the business and not one company, even American, is much better than the indexes. I remember when you were in college(assuming you went) and the powers at Jones kept us in the dark regarding Putnam, another family that you couldn't lose with. Right. So as much as I have loved the performance of AF, they ain't up there with the elite because everyone will have their day to shine as well as take the heat. It's only a matter of time. You just haven't been around long enough.

One last comment. Until Jones added Franklin, I sold alot of them. The wholesaler used to come in and tell me the reason Franklin wasn't a preferred was because your management demanded upfront money. Finally Franklin gave in and now Oppenheimer did as well. When over 60% of your managements profit (notice I did not say your company)comes from kickbacks, I and others say YOU ARE DIRTY.

Get off your soapbox and start calling on your bond of the day. After all your customers do come first. What a joke.

FS - you’ve been punk’d man…that’s not the real spaceman…

foot,

Just so you know, SpacemanSpLiff is the one taunting you, not SpacemanSpiff.

Before you think I'm an idiot for reiterating Indyone's post, please note the time of the posts...  Now, you may think I'm an idiot for other reasons, but that's another matter entirely.

Now I know how Demi feels…

Everybody here is ignorant and doesn't recognize the fact that asking for the order, regardless of client needs, is paramount. We do what's right for the client, especially in PG or JNJ phone sessions. Also, revenue sharing allows us to better educate the client via the materials provided from product partners.

I would like to close by saying

"I am the richest man in America."

[quote=Spaceman Spliff]

Everybody here is ignorant and doesn't recognize the fact that asking for the order, regardless of client needs, is paramount. We do what's right for the client, especially in PG or JNJ phone sessions. Also, revenue sharing allows us to better educate the client via the materials provided from product partners.

I would like to close by saying

"I am the richest man in America."

[/quote]

Excuse me, Spacedout Queef, a few of us do know that. In fact we're so good at it that we don't waste time educating clients that we could be using to close deals.

[quote=Gone Indy]

[quote=Starka]My all time favorite strong buy recco from ol' Alan was Lucent (LU).[/quote]

I remember sitting in one of those god forsaken meetings in St Louis (1999) and all of us IRs were treated to a special visit from Dave Powers.  I will always remember his exact quote..."if you people are not putting your clients in Lucent, Worldcom, and AT&T you are missing the boat".  I swear that those were his exact words, I couldn't make that up if I tried.

[/quote]

Dave Powers.  Now there's a blast from the past.  Is he still an analyst with Jones?  I know he gost busted down from covering the vaunted tech sector to covering industrials or something like that.  I think that boob Art ?? does tech now.  I remember how cocky and full of himself Powers was in those meetings, too.  What a waste of skin!  OTOH, he did have a really hot wife.....who was about 6 inches taller than him with her heals on.

[quote=now_indy]

Before you think I'm an idiot for reiterating Indyone's post, please note the time of the posts...  Now, you may think I'm an idiot for other reasons, but that's another matter entirely.

I didn’t realize Spiffy was the firms gp for RR.

Are you saying that Spiff is an office pogue withoiut first hand knowledge of

production? If so, that’s despicable.

[quote=footsoldier]I won't resort to bspears tactics, but I do have almost 15 years in the business and not one company, even American, is much better than the indexes. I remember when you were in college(assuming you went) and the powers at Jones kept us in the dark regarding Putnam, another family that you couldn't lose with.[/quote]

[quote=Soothsayer]

Dave Powers.  Now there’s a blast from the
past.  Is he still an analyst with Jones?  I know he gost
busted down from covering the vaunted tech sector to covering
industrials or something like that.  I think that boob Art ?? does
tech now.  I remember how cocky and full of himself Powers was in
those meetings, too.  What a waste of skin!  OTOH, he did
have a really hot wife…who was about 6 inches taller than him with
her heals on.

Wow…SPliff you do a damn better job than myself!! LPL is looking for you…

[quote=Bobby Hull][quote=Spaceman Spliff]

Everybody here is ignorant and doesn't recognize the fact that asking for the order, regardless of client needs, is paramount. We do what's right for the client, especially in PG or JNJ phone sessions. Also, revenue sharing allows us to better educate the client via the materials provided from product partners.

I would like to close by saying

"I am the richest man in America."

[/quote]

Excuse me, Spacedout Queef, a few of us do know that. In fact we're so good at it that we don't waste time educating clients that we could be using to close deals.

[/quote]

I think it's funny that my knock off is being talked down to by BH.