Top 10 Firms?

or Register to post new content in the forum

33 RepliesJump to last post

 

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Aug 19, 2009 11:14 pm

Just curious who are the top 10 firms up to date?

Aug 19, 2009 11:23 pm

http://www.smartmoney.com/investing/stocks/ranking-the-full-service-brokers/



#1 is RayJay

#2 is EJ

And so on and so forth

Aug 19, 2009 11:31 pm

^ Thank you sir. How is Edward Jones #2 with complaints like this:

" Do not do business with Edward Jones . Every negative rating here is true plus more. Their "compliance dept is a joke and will not help you when the "adviser" starts tp play with your money. They will not leave a paper trail , every order has to be verbal so you have to prove you DID NOT order hundreds of thousands of dollars of preferred mutual funds. Finra is no help , sec is no help. THIS COMPANY IS CROOKED , A DRESSED UP VERSION OF THE WORST SWINDLER EVER,, THEY WILL STEAL YOUR MONEY WHILE SHOWING YOU PRETTY CHARTS AND FAIRYTAIL FIGURES AND SMILE THE WHOLE TIME . dO NOT MAKE THE MISTAKE THEY GIVE A RATS ASS ABOUT YOU, THEY WANT YOUR MONEY AND WILL DO ANYTHING TO GET IT. sTAY AWAY!!!!!!!!!!!!!!!!!"
Aug 19, 2009 11:34 pm

Pretty easy when that's the exeption and not the rule. Every company has its complaints, its the amount and severity that is the problem, and compared to the other firms out there EJ has one of if not the cleanest name in the business.

Aug 19, 2009 11:36 pm

Really hmm... You don't work there do you lol?

Aug 19, 2009 11:42 pm

Yes, and I am heavy on the kool aid. However I did my thorough checking before signing on the dotted line that and friends of mine at other firms, the general public and Jim Cramer all seem to agree with such. But check around for yourself. True Story: I was in a retail store during the interview process and happened to see a guy at the register use a EJ Credit Card and asked him his opinion of the firm and he said they've been great to both him and his parents and that his FA was a very smart guy, def all helped to seal the deal for me.

Aug 19, 2009 11:52 pm

Thats so ironic to find a guy who works at EJ out of  thin air while you were in the interview process. How is business going for you at EJ?

Aug 19, 2009 11:56 pm

Haha I thought the same thing but he didn't offer me a business card or talk to me about American funds, so I knew he was for real.

Aug 20, 2009 12:00 am

Lol I would have thought he would at least give you his card or something.

Aug 20, 2009 12:03 am

Ok so what's ur beef with EJ anyways? Did u not get in? Did you get in and hear something bad? What's ur excuse for hating on the smart money rankings.... afterall u had nothing to say about rj?

Aug 20, 2009 12:05 am

No beef at all just researching here and there.

Aug 20, 2009 12:30 am

The guy in the store didn't work for EDJ. He was a client. You can't even read. Go suck a nut.

Aug 20, 2009 2:02 am
Ameriprise

2. Wachovia now wells Fargo

3. Lpl
Aug 20, 2009 9:07 am
fa09:

http://www.smartmoney.com/investing/stocks/ranking-the-full-service-brokers/



#1 is RayJay

#2 is EJ

And so on and so forth





I dont really consider smartmoney a leading source on anything.. Anyone who publishes the best mutual funds of last year in a "con" to get readers to buy them this year is dumb

Aug 20, 2009 9:32 am
VenomRx:

^ Thank you sir. How is Edward Jones #2 with complaints like this:

" Do not do business with Edward Jones . Every negative rating here is true plus more. Their "compliance dept is a joke and will not help you when the "adviser" starts tp play with your money. They will not leave a paper trail , every order has to be verbal so you have to prove you DID NOT order hundreds of thousands of dollars of preferred mutual funds. Finra is no help , sec is no help. THIS COMPANY IS CROOKED , A DRESSED UP VERSION OF THE WORST SWINDLER EVER,, THEY WILL STEAL YOUR MONEY WHILE SHOWING YOU PRETTY CHARTS AND FAIRYTAIL FIGURES AND SMILE THE WHOLE TIME . dO NOT MAKE THE MISTAKE THEY GIVE A RATS ASS ABOUT YOU, THEY WANT YOUR MONEY AND WILL DO ANYTHING TO GET IT. sTAY AWAY!!!!!!!!!!!!!!!!!"



I hate to stick up for Jones, but this "complaint" is meaningless. The person who wrote it was probably drunk, or a ML rep who lost half his AUM to Jones; or a drunk ML rep who got frustrated when he couldn't figure out how to log into the BOA server...anyway, Jones is a clean operation when it comes to picking investments and customer service. This "complaint" is a joke.

Aug 20, 2009 9:43 am

Or it could be a real client that had a real bad experience with a real bad FA at Jones.  You never know.  There are bad FA's at every firm, bar none.  But you can't account for outliers.  You have to look at the entire firm(s).  There are not many "bad" firms out there, just bad FA's.  On the other hand, I had a client the other day railing about how awful Merrill Lynch is, about all the corporate greed, lies, etc.  I actually found myself defending Merrill to him.  What I wanted him to understand was that despite all that he had heard in the press, most of the advisors are very good people that care about their clients, and should not necessarily be a reflection of what their bosses bosses boss did.  It's a weird industry.  Good firms with bad FA's, bad firms with good FA's.  I guess I was sort of defending the industry as a whole, whose reputation has been even further reduced by the very firms that helped build it up over the years.  It's sad.  We as an industry should work more towards unity versus trying to tear each other down. 

Aug 20, 2009 10:16 am
chief123:
fa09:

http://www.smartmoney.com/investing/stocks/ranking-the-full-service-brokers/



#1 is RayJay

#2 is EJ

And so on and so forth





I dont really consider smartmoney a leading source on anything.. Anyone who publishes the best mutual funds of last year in a "con" to get readers to buy them this year is dumb





Well I figured I'd throw something out there other than JD powers which can be slanted in its own right. What better ranking did you have in mind that you failed to post?

Aug 20, 2009 10:51 am

First my problems with rankings is that the sampling is poor, for example in my area suburbs of major city(top 10 largest) the EDJ people within 30 miles of my location are useless, but if you stretch that to 45 miles then you pick up some very good advisors(used to be part of the region) but in my friends area down south, they have a lot of high quality EDJ guys... We don't have a lot of RJ, so hard to compare.



My other problem was what the survey was based on:

"For our ranking of full-service brokerage firms, we supplemented SmartMoney research with research from outside experts: Zack’s Investment Research for stock picking, J.D. Power for customer service and account statements, Forrester Research for trust, Dalbar for account statements and Corporate Insight for Web sites. The results:"



I find it hard to analyze trust over 10,000+ brokers of any firm. Account statements?? Serioulsy... Websites, not for client over 65...Of course we all know the flaws of JD Powers.. and then Zacks?? Are they the gods of stock picking?



However I would agree that RJ does a good job providing their advisors with information, and lots of it. Plus it's a rather conservative firm that knows who they are(like EDJ, except instead of mainstreet everyday customers I think the focus in Higher new worth people) But both firms do what they say, and I think that is why they rank so high. Now it depends if you want what they do(or in some cases don't do).

Aug 20, 2009 10:57 am

Again I will ask how u have assisted the op with ur post.... what ranking did you suggest?

Aug 20, 2009 11:05 am

I don't suggest any ranking.. Just like i don't suggest looking at top funds of 2008.. Rankings are for media and idiot investors..