I was wondering how the cost basis reporting is at Edward Jones.
I'll tell you one thing...they sure do lie about the current market value of bonds on their statements.
Cost basis is automatic for securities bought in firm name. It can be added manually for transferred in securities.
Most firms use an outside company to price bonds on statements. I am not aware of a firm that does it in house.
Apparently, you work for one.
So are you saying that you have someone (or a department) at your firm that prices every bond for every client on every statement by hand each month?
Dude, you're dreaming!
You have it wrong, as usual.
Unlike your chop shop, we don't have proprietary bonds, and we don't overvalue what our clients do have.
OK, clients of yours have bonds in their portfolios, right?
OK, clients of yours get statements regularly that show them what the value of their bonds are, right?
OK, who at your great firm prices all the bonds on these statements?
My point is all firms use a pricing service to do this. Usually it's an institutional type pricing so is it not uncommon if a client is selling a small position say $50,000 or $100,000 piece that they would not get the price that could be gotten for a $500,000 or $1,000,000 piece. This is not a Jones only problem. It is industry wide. Bond prices on statements should only be an indication of price.
Not sure what you mean by "proprietary bonds". All of our bonds can be held by or transferred to other firms.
WOW, you do have a thick head, no wonder you can't answer QUESTIONS, or TELL THE TRUTH?
ANSWER THE QUESTIONS?
again your comphrension is somewhat ....... lacking, and you have not answered the questions posed to you please re-read.
Candybar we are all waiting?
Here is ehtics 101:
Just so people understand the symbols at Edward Jones:
Managing General Partner & GP's
IR's that are Drones (LP's)
IR's That are Clones
I wonder what Candybar is?
Player which are you
disgruntled you didn't make GP
just plain wacky
I left EJ three years ago, and I am happy I did. Player you seem to need some "professional" help before your anger destroys any relationships you may have left.