Jones FeeBased Platform
Just an update…
For all of those wondering.. Lisa Pelican who designed AGE's platform is the one creating ours. That gives ME a lot of hope. She has an ETA of March or May 2008. I cannot remember what month I heard.. All I remember was the month started in "M". She brought over her team from AGE and they are in the process of getting ours up and running. I have a lot of respect for AGE so I am excited that Jones sought her out and she is in charge. Miss JIt’s March…2011.
Just had to beat everyone to the punch![quote=MISS JONES]Just an update…
For all of those wondering.. Lisa Pelican who designed AGE's platform is the one creating ours. That gives ME a lot of hope. She has an ETA of March or May 2008. I cannot remember what month I heard.. All I remember was the month started in "M". She brought over her team from AGE and they are in the process of getting ours up and running. I have a lot of respect for AGE so I am excited that Jones sought her out and she is in charge. Miss J [/quote] "....................one time at band camp"Wow, what’s the payout–75 basis points gross–35 to 39% of that–$100,000 x 75 basis points = $750 x 35% = $262.50, means you only need 822 like that to make you minimums per year on a rolling 4 month basis
We don’t know the payout yet. I’m guessing 1% with a 40% payout. And your math is way wrong. Let’s try this again, using your numbers. Minimum bogey is $18,000 gross X 12 = $216,000/.75% = $28.8 million/$100,000 = 288. See, you were calculating the number of plans needed like that on NET numbers, not gross. If you’re going to make fun of Jones, you could at least get the math right.
Miss Jones - Fes told us at a meeting recently that it would be launched in time for Summer Regionals. You can bet we are going to spend a few hours talking about the platform then.one time at bandcamp…that is funny
Hey Spiff–Get this your right–my math was wrong!
Spiff- Summer regional sounds like a good time to do that. I know they will need to do some MAJOR educating and that event might be just the right place to do it. Thanks for the info. Either way- I am thrilled to know Lisa Pelican is on board and in charge of the platform.
Miss JIt might actually make regionals interesting this year. Last year ours were really boring. There’s only so many ways you can talk about service and how great we are at it before I start to yawn.
Glad to hear you guys are finally getting a fee-based platform of some sort - something most of the industry has had for years now. Better late than never, I guess.
Having been with AGE for most of the recent years, though, I have one comment: Lisa WHO?
I’m not saying she wasn’t perhaps the unseen power behind the throne in the fee based area, but I know lots of names in that area and none of them are Lisa whatshername. She may be hot stuff, but I’ve never heard of her.
Oh,,well...the GP's have pumped her up to get the troops excited. Just in time recharge for the troops. She's probably dating a GP...kinda like Connie whatshername...
With her ability to leave a lasting impression like this I can see what you're all so excited about!
Having been with AGE for most of the recent years, though, I have one comment: Lisa WHO?
[quote=Morphius]
Having been with AGE for most of the recent years, though, I have one comment: Lisa WHO?
[/quote]
"Lisa Pelikan, vice president of the investment management consulting
department, has been with A.G. Edwards for 16 years."
St. Louis Commerce Magazine 2003
like I said before ........ one time at band camp = summer regionalsIt might actually make regionals interesting this year. Last year ours were really boring. There’s only so many ways you can talk about service and how great we are at it before I start to yawn.
how many VPs are there at a brokerage firm?????? a $#!^load .... check FINRA for history[quote=Morphius]
Having been with AGE for most of the recent years, though, I have one comment: Lisa WHO?
[/quote]
“Lisa Pelikan, vice president of the investment management consulting department, has been with A.G. Edwards for 16 years.”
St. Louis Commerce Magazine 2003
Forgot to add that the person in questions seems to have gone through some name change(s) through the years.
You crack me up Spears.
I'm actually starting to like your humor. I used to be real annoyed by you, until I realized that you were really just....trying to annoy us!
I find myself laughing at your comments now. I actually bet you are pretty funny in person. You remind me of my brother. He ALWAYS has a smarta$$ response to every comment in our weekly e-mail threads.
Keep it coming Spears..
[quote=Spaceman Spiff] We don’t know the payout yet. I’m guessing 1% with a 40% payout. And your math is way wrong. Let’s try this again, using your numbers. Minimum bogey is $18,000 gross X 12 = $216,000/.75% = $28.8 million/$100,000 = 288. See, you were calculating the number of plans needed like that on NET numbers, not gross. If you’re going to make fun of Jones, you could at least get the math right.
Miss Jones - Fes told us at a meeting recently that it would be launched in time for Summer Regionals. You can bet we are going to spend a few hours talking about the platform then. [/quote]
I actually have heard 75 bips, but of course that is from the shadiest of grapevines…I hope it’s 100.
With her ability to leave a lasting impression like this I can see what you're all so excited about![/quote] I could see how you might not know who Lisa Pelikan is if you don't do a lot in the fee based world.. The BIG producers at AGE that use Fee based would.. You could ask those people if you really cared to know. Just a thought- Miss J[quote=Morphius]
Having been with AGE for most of the recent years, though, I have one comment: Lisa WHO?
I appreciate your nice comments broker24. I work very hard in developing my postings, with many of them rewritten several times. I take my inspiration from a man I met while hiking in Ghana. He had so many great thoughts and was so fluid with his stories, I was just so inspired. It wasn't unti I found this beautiful forum, in Feb of 06, that I began to put together small inspirational postings.
Iwill continue to post as long as there are needy brokers who need to hear the truth. As Jack said "you can't handle the truth!!! and some can't. I report from outside the cult camp. Sincerely, Bspears[quote=bspears]
I appreciate your nice comments broker24. I work very hard in developing my postings, with many of them rewritten several times. I take my inspiration from a man I met while hiking in Ghana. He had so many great thoughts and was so fluid with his stories, I was just so inspired. It wasn't unti I found this beautiful forum, in Feb of 06, that I began to put together small inspirational postings.
Iwill continue to post as long as there are needy brokers who need to hear the truth. As Jack said "you can't handle the truth!!! and some can't. I report from outside the cult camp. Sincerely, Bspears[/quote][quote=MISS JONES]
I could see how you might not know who Lisa Pelikan is if you don't do a lot in the fee based world.. The BIG producers at AGE that use Fee based would.. You could ask those people if you really cared to know. Just a thought- Miss J [/quote]I know you had no way of knowing this, Miss Jones, but I AM one of those people to whom you refer, and I'm afraid her name means nothing to me.
Again, that is not to say she wasn't key in developing the fee based programs, but she wasn't one of the folks who interfaced with the FCs who actually used those programs. Could very well be that those people reported to her, for all I know. I don't expend much energy studying the names of Home Office folks. Not enough hours in the day for such non-essentials.
I have no horse in this race, my dear Miss Jones. My only point was that her name is not a prominent one TO ME. Doesn't mean she wasn't a key player. But it is also possible there's just a wee touch of PR and rallying the troops stuff going on as well.
Either way, who really cares? If she delivers the goods for you, that's all that matters. Good luck to you!
boy you must have a winner with lisa what’s her f@cking name. you’re gonna have the best darn fee based platform in the world. kinda like your sales force huh? she sounds like a keeper! big f@cking deal!
With her ability to leave a lasting impression like this I can see what you're all so excited about![/quote] I could see how you might not know who Lisa Pelikan is if you don't do a lot in the fee based world.. The BIG producers at AGE that use Fee based would.. You could ask those people if you really cared to know. Just a thought- Miss J[/quote] I am 70% fee based thru our advisory models and I say, "Lisa Who?"[quote=apex01][quote=Morphius]
Having been with AGE for most of the recent years, though, I have one comment: Lisa WHO?
I have been at AGE almost 9 years and do alot of Fee Based…never heard of Lisa Pelican!
You guys are just big fat liars. Lisa is the best and your jealous of her and her accomplishments. SHE INVENTED FEE BASED PLATFORMS…along with the internet. COME ON…LISA PELICAN…LISA PELICAN. ARE YOU TELLING US…HER NAME DOESN"T RING A BELL…L I S A P E L I C A N…
[quote=MISS JONES]Just an update…
For all of those wondering.. Lisa Pelican who designed AGE's platform is the one creating ours. That gives ME a lot of hope. She has an ETA of March or May 2008. I cannot remember what month I heard.. All I remember was the month started in "M". She brought over her team from AGE and they are in the process of getting ours up and running. I have a lot of respect for AGE so I am excited that Jones sought her out and she is in charge. Miss J [/quote]I was at AGE until the Wacho deal. Their Fee-based platform is good, but nothing cutting-edge, but not behind anyone either. I liked their American Funds and Franklin Templeton-centric wrap mutual fund program. I'm sure the EDJ guys and gals with appreciate AmFunds.
Sedona,
Where are you headed? You left way to soon in my humble opinion..What about the Wachovia deal is most troublesome to you?[quote=Morphius] [quote=MISS JONES]
I could see how you might not know who Lisa Pelikan is if you don't do a lot in the fee based world.. The BIG producers at AGE that use Fee based would.. You could ask those people if you really cared to know. Just a thought- Miss J [/quote]I know you had no way of knowing this, Miss Jones, but I AM one of those people to whom you refer, and I'm afraid her name means nothing to me.
Again, that is not to say she wasn't key in developing the fee based programs, but she wasn't one of the folks who interfaced with the FCs who actually used those programs. Could very well be that those people reported to her, for all I know. I don't expend much energy studying the names of Home Office folks. Not enough hours in the day for such non-essentials.
I have no horse in this race, my dear Miss Jones. My only point was that her name is not a prominent one TO ME. Doesn't mean she wasn't a key player. But it is also possible there's just a wee touch of PR and rallying the troops stuff going on as well.
Either way, who really cares? If she delivers the goods for you, that's all that matters. Good luck to you!
[/quote] I agree with you.. Who cares.. This post was really for the Jones people that may not be aware of who was in charge of our new platform.. Nothing more.. Thanks for the comments.. Much love! Miss J
Miss Jones…Why do you have to be so flirty? And where is my “Much love”?
Sorry to rain on your parade but, Miss Pelican or who ever takes control will only be as good as Jones lets him/her to be.
Bottom line it has to benefit Jones (GP's) more then clients! If it fails to do this nothing will not fly. You have to admit Jones is at least ten years behind on this platform! Good luck!Forget the fee based platform. I cant wait to hear about the UMA they will be rolling out next year. It's called FFACX with 35pb payout. KAAACHING!!!!!!!!
IT IS AAALIVE!!!!!!!!!![quote=exdrone]
Forget the fee based platform. I cant wait to hear about the UMA they will be rolling out next year. It's called FFACX with 35pb payout. KAAACHING!!!!!!!!
IT IS AAALIVE!!!!!!!!!![/quote] Hey, I like that fund!I cant imagine jones with real advisory platform. Are they actually going to build a mutual fund research dept? Are they going to give the IRFAs discretion?
I must ask once again why Edward Jones needs a fee based platform.
The Edward Jones niche, from what I’ve seen, is the lower end, unsophisticated investor. Given the business model, the off-site supervision and lack of training this is how it must be. How then will their demographic benefit from a fee based account? On the cost side, all things being equal, how will they compete with say Mother Merrill from a cost standpoint without a deep discount, given their extreme disadvantage on the services side? It would seem that the only reason Jones is considering the platform is to play follow the leader, and I think it’s a misstep for them.
[quote=Philo Kvetch]I must ask once again why Edward Jones needs a fee based platform.
[/quote]
To make more money. Why does everyone else like the fee based platform?
Max-
Are you implying that the philanthropic GP's have held back from the fee based platform because they didn't want to make "more" money? And you claim I fell off the turnip truck! Dude.... you are perfect for Jones.[quote=footsoldier]Max-
Are you implying that the philanthropic GP's have held back from the fee based platform because they didn't want to make "more" money? And you claim I fell off the turnip truck! Dude.... you are perfect for Jones. [/quote] No I'm not implying that at all.Gosh- It’s moments like this that I just know I LOVE working at Jones!
Miss JWhere I work, the answer to your question is because it's in the clients' best interests. Apparently it's different where you are.[quote=Philo Kvetch]I must ask once again why Edward Jones needs a fee based platform.
[/quote]
To make more money. Why does everyone else like the fee based platform?
[quote=MISS JONES]Gosh- It’s moments like this that I just know I LOVE working at Jones!
Miss J[/quote] Is this a joke account? I have never met a bigger puppet in life.Where I work, the answer to your question is because it's in the clients' best interests. Apparently it's different where you are.[/quote] Thats funny. From some of the recent articles I've read about Merrill and Morgan elminating their fee based accounts and converting them to advisory or transaction accounts, they are concerned about the lose of revenue. If your clients best interest is the only motivating factor then using a transaction based model would often be less expensive for the client and then you could offer the exact same service to them that the fee based platform gives them. Then only person coming out on the short end would be you. Would that be in your client's best interest? My other question is do you believe the fee based platform was created to stablized revenue and increase profit for the advisor and firms?[quote=Maxstud] [quote=Philo Kvetch]I must ask once again why Edward Jones needs a fee based platform.
[/quote]
To make more money. Why does everyone else like the fee based platform?
[quote=MISS JONES]Gosh- It’s moments like this that I just know I LOVE working at Jones!
Miss J[/quote] What about other moments?Sorry Philo I made a mistake, I decided to give Jim Weddle a call about your question and he said, "Edward Jones is adding a fee based platform because it in the best interest of our clients." You are right and I'm wrong.I must ask once again why Edward Jones needs a fee based platform.
[quote=Philo Kvetch][quote=MISS JONES]Gosh- It’s moments like this that I just know I LOVE working at Jones!
Miss J[/quote] What about other moments?[/quote] Those are questionable..Do tell
[quote=Maxstud]
That’s a given.
[quote=Philo Kvetch] [quote=Maxstud]
That's a given.[/quote] Agreed. It would be nice to hear your answers to my other two questions. I love to learn from the best.
Gotcha…Jim told me…“the natives are getting restless, momma wants a new boat and what the hell…if we can milk the unsophisticated investor…why not”…Sorry Max…you thought it was Jim, but it was a fella in IT playin with ya.
To the IRFA fee based= fee in lieu of commission.
From my reading, I dont think most of them get the difference in services provided in an advisory acct where there is substantial planning, reporting, and communication for the client. Does Jones have ad hoc performance reporting avail yet? What about fund research? I hear they finally have NaviPlan, but are they able to charge a fee to build a real plan or does each plan come with a complimentary touchdown bond? Getting paid fees is great, but if you dont have the tools to earn those fees, or you try to compete on price by offering lower fees, the whole thing will fall flat on its face.Where I work, the answer to your question is because it's in the clients' best interests. Apparently it's different where you are.[/quote] Thats funny. From some of the recent articles I've read about Merrill and Morgan elminating their fee based accounts and converting them to advisory or transaction accounts, they are concerned about the lose of revenue. If your clients best interest is the only motivating factor then using a transaction based model would often be less expensive for the client and then you could offer the exact same service to them that the fee based platform gives them. Then only person coming out on the short end would be you. Would that be in your client's best interest? My other question is do you believe the fee based platform was created to stablized revenue and increase profit for the advisor and firms? [/quote] Certainly clients see it that way, and they are happy about that. "If you know what you are making each month/year, you aren't as worried about trying to sell stuff are you?"...I have been amazed at how many of them have said that without me prodding them abit.[quote=Philo Kvetch][quote=Maxstud] [quote=Philo Kvetch]I must ask once again why Edward Jones needs a fee based platform.
[/quote]
To make more money. Why does everyone else like the fee based platform?
What a surprise … another EDJ post dissolves into worthlessness.
[quote=anabuhabkuss] [quote=MISS JONES]Gosh- It’s moments like this that I just know I LOVE working at Jones!
Miss J[/quote]
Is this a joke account? I have never met a bigger puppet in life.[/quote]
Actually, I think in this case YOU are the puppet. MJ just has fun with all of this. Lighten up.
Gotcha…Jim told me…“the natives are getting restless, momma wants a new boat and what the hell…if we can milk the unsophisticated investor…why not”…Sorry Max…you thought it was Jim, but it was a fella in IT playin with ya.
See Spears, that's what I'm talking about. Where do you come up with this stuff? They must have loved you at the Regional Koolaide parties. You were the guy at the back of the room asking Fes Shaughnessy questions like "Hey Fes, Homosaywhat?"
"What?"
Actually Broker 24 I was in the front row drinking as much green shit as possible. What a loser I was for it to…hurt a lot of clients listening to a dumbass mentor tell me how to churn and burn. I actually got a 84 year old to buy a 42 year bond, damn I was good. On the radar early on to move up in the region…but then one day something snapped. Not sure what it was, but something inside of me said “Stop and quit listening to these crooks”. Since that day, I’ve road EDJs ass as hard as possible. THey deserve, in my eyes, to be put out of business.
Actually Broker 24 I was in the front row drinking as much green shit as possible. What a loser I was for it to…hurt a lot of clients listening to a dumbass mentor tell me how to churn and burn. I actually got a 84 year old to buy a 42 year bond, damn I was good. On the radar early on to move up in the region…but then one day something snapped. Not sure what it was, but something inside of me said “Stop and quit listening to these crooks”. Since that day, I’ve road EDJs ass as hard as possible. THey deserve, in my eyes, to be put out of business.
It's funny, either I work in a strange region (for Jones), or I am just not as numb as some other newer advisors. I just don't see any of that brain washing going on in our region. I pretty much do what I want. Part of it may be that there are many transfer brokers in my region (my mentor was a xfer), so we get a lot of different viewpoints. And maybe it's also because the "veterans" in our region have only been with Jones about 15 years. Most are in the 7-10 year range (being in the Northeast, we were one of the last regions of the nation to really start developing). So you don't have all those 20+ year guys bleeding green like out in the midwest, the Carolinas, etc. A lot of the guys in my region are older, 2nd career guys - they are in their mid-50's, but only 6 or 7 years with Jones. They don't care about all the BS, and a lot of them don't even bother coming to regional meetings sometimes. Their happy with their 150K a year and cruising towards retirement in a cushy 10-4 job. I truly believe a lot of the culture people talk about on this board is specific to certain regions.
My region is younger also and runs in a similiar manner, Broker24.[quote=bspears] Actually Broker 24 I was in the front row drinking as much green shit as possible. What a loser I was for it to…hurt a lot of clients listening to a dumbass mentor tell me how to churn and burn. I actually got a 84 year old to buy a 42 year bond, damn I was good. On the radar early on to move up in the region…but then one day something snapped. Not sure what it was, but something inside of me said “Stop and quit listening to these crooks”. Since that day, I’ve road EDJs ass as hard as possible. THey deserve, in my eyes, to be put out of business. [/quote]
It’s funny, either I work in a strange region (for Jones), or I am just not as numb as some other newer advisors. I just don’t see any of that brain washing going on in our region. I pretty much do what I want. Part of it may be that there are many transfer brokers in my region (my mentor was a xfer), so we get a lot of different viewpoints. And maybe it’s also because the “veterans” in our region have only been with Jones about 15 years. Most are in the 7-10 year range (being in the Northeast, we were one of the last regions of the nation to really start developing). So you don’t have all those 20+ year guys bleeding green like out in the midwest, the Carolinas, etc. A lot of the guys in my region are older, 2nd career guys - they are in their mid-50’s, but only 6 or 7 years with Jones. They don’t care about all the BS, and a lot of them don’t even bother coming to regional meetings sometimes. Their happy with their 150K a year and cruising towards retirement in a cushy 10-4 job. I truly believe a lot of the culture people talk about on this board is specific to certain regions.
Just dug the tread back up–I’ve given you a week–hows that fee based program comming?
I wish I was joking by suggesting you see a therapist.Actually Broker 24 I was in the front row drinking as much green shit as possible. What a loser I was for it to…hurt a lot of clients listening to a dumbass mentor tell me how to churn and burn. I actually got a 84 year old to buy a 42 year bond, damn I was good. On the radar early on to move up in the region…but then one day something snapped. Not sure what it was, but something inside of me said “Stop and quit listening to these crooks”. Since that day, I’ve road EDJs ass as hard as possible. THey deserve, in my eyes, to be put out of business.
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