21 years with Edward Jones- ED HOOD
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How our organization operates? Really? What makes you think Jones is in any way not cooperating with all parties involved? You don't know any more than we do B24 and I do. You take this new poster's information as the truth like she served it to you with her hand on a Bible. Then you go on a rant about 60 minutes, bringing down this and that on STL, etc. Like I said, you've set a new definition for over the top. If you can find one shred of factual evidence that Jones isn't playing ball with the victims in this case, I'll apologize to you.
You need to heed your own advice. Get back on the phone. You've got a secretary's salary to earn.[quote=bspears]I'm not doing anything except putting out my personal opinions. I've been there and no how your oganization operates. If I were you, I'd be pissed they haven't made them whole, but instead, your so drunk on koolaid, you defend your firm and make excuses. You can deny, deny, deny and act as if this is the victims fault and its all corporate way of doing things..but in the end..its the way your organization operates. I have no dog in this race, but if I did, I would be bringing down holy shit on St Louis. I can't see why someone hasn't raised hell with the firm and made this public. I have no idea whether HurryuP is real or not, but to not understand how anyone finds this forum is rediculous. Hell, we've got new people popping up all the time..."wow, I'm glad I found this forum, so much great info"...get back to your calls, before your inventory dries up...[/quote]
Cute.
As far as your other comments...I could scour the internet and find dozens, if not hundreds of instances of crooked brokers, insurance salesmen, duping thousands out of millions. But I don't. Because I know, for the most part, that those individuals are not reflections on an entire firm. What does a bad annuity salesman from LPL that is snaking money from old people have to do with LPL as a firm? Very little. That's why most of us don't take a singular act and try to extrapolate it to every advisor in a firm. Spears, you know it happens at every firm, probably more often than at Jones (not because we are "better" or "holier", but because we require higher compliance oversight due to our structure). You are just so pleased to see that this board has blown up this one instance at Jones. And I am not trying to excuse Hood, Jones, or their attorneys. It was a despicable act, but I also don't know the current facts(about the settlement), nor do I trust some random poster that claims on an open internet forum that Jones is not making one of the victims whole.I have been asked to bow out and I will do that. But I really did want to let you guys know what was happening since you were asking. Sorry to have stirred the proverbial hornets nest. I have already followed much of your advice and it was somewhat consoling to find that this is infuriating to the people who know this industry best. If you need any other info, feel free to contact me.
Apparently, the legal industry also frequents this blog. Thanks for your listening ear and advice.[quote=B24]
[quote=bspears]I'm not doing anything except putting out my personal opinions. I've been there and no how your oganization operates. If I were you, I'd be pissed they haven't made them whole, but instead, your so drunk on koolaid, you defend your firm and make excuses. You can deny, deny, deny and act as if this is the victims fault and its all corporate way of doing things..but in the end..its the way your organization operates. I have no dog in this race, but if I did, I would be bringing down holy shit on St Louis. I can't see why someone hasn't raised hell with the firm and made this public. I have no idea whether HurryuP is real or not, but to not understand how anyone finds this forum is rediculous. Hell, we've got new people popping up all the time..."wow, I'm glad I found this forum, so much great info"...get back to your calls, before your inventory dries up...[/quote]
Cute.
As far as your other comments...I could scour the internet and find dozens, if not hundreds of instances of crooked brokers, insurance salesmen, duping thousands out of millions. But I don't. Because I know, for the most part, that those individuals are not reflections on an entire firm. What does a bad annuity salesman from LPL that is snaking money from old people have to do with LPL as a firm? Very little. That's why most of us don't take a singular act and try to extrapolate it to every advisor in a firm. Spears, you know it happens at every firm, probably more often than at Jones (not because we are "better" or "holier", but because we require higher compliance oversight due to our structure). You are just so pleased to see that this board has blown up this one instance at Jones. And I am not trying to excuse Hood, Jones, or their attorneys. It was a despicable act, but I also don't know the current facts(about the settlement), nor do I trust some random poster that claims on an open internet forum that Jones is not making one of the victims whole. [/quote] There is a huge difference in someone that works for LPL or Raymond James missusing annuities and a General Partner in a firm bilking people out of their hard earned money. I thought for a while you were a reasonable person but you have proven to me that you are not. Believe me if you could have seen and experienced the things that I did, you would not be at the firm.......Oh, Noggin. You are so, so short-sighted. Simply because you were so close to this does not make it the only firm or only instance of a situation like this. Many, many firms have perpetrated much, much worse frauds than this. Despite how it sounds, I am not at all defending Jones or Ed Hood. But the people on this forum have blown this up into the only case of fraud to come down on U.S. soil. Not only that, Spears, or whoever, comes on here masquerading as one of the defendants??? Come on.
And by the way, the annuity thing was just an example. It would take me 5 minutes to find 5 other real examples of securities fraud on the internet.Joe, Truth be told, I was just using LPL as an example, as there is a large percentage of LPL reps on this site, so it was just top of mind. Honestly, I don't consider what someone does at LPL, or RayJay, or Merrill, or EDJ to be a reflection on the firm. No firm WANTS individuals like this. But in the battle to be the biggest, some always slip through the cracks. I also have no doubt that many may have at one time been good, honest advisors. But they got greedy when they stumbled upon a loophole and one thing led to another. Now of course, there are some out there that are just plain dirty.[quote=Spaceman Spiff]OK, whatever. Are we done with this conversation now? [/quote]
I think this horse has been rode hard and put up wet…really now…enough already.
Every firm has lawyers who have the responsiblity, no, DUTY, to their clients to advocate for them and minimize ‘damages’. It sucks, but it’s just how it happens.
And…to the extent there are any dirty indy reps out there, they will do their best to slip their leashes as well.
Having said that, I will note that I’ve observed a few of you citing LPL as a ‘hypothetical’ example. I won’t claim we are as pure as fresh snow, but frankly I’ve seen little of that sort of behavior here. It’s usually more prevalent at the smaller indy b/d’s who are hungry for brokers with big GDC and who have limited compliance infrastructure.
My 2 cents. Take it for what it’s worth.
http://www.google.com/search?hl=en&q=%22edward+hood%22+%2B+edward+%2Bjones&btnG=Search&meta=
Nope. I wouldn’t expect one either. We didn’t hear anything when it happened. And they aren’t going to send updates to the firm on something like this.