AG Edwards

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Dec 14, 2005 6:44 pm

Considering changing BD. Is the environment at AGE as good as it sounds?

Dec 14, 2005 7:48 pm

Depends on what city. If you are considering St. Louis region I would not consider because you will have too much competition from other AGE reps.



Personnally I think AGE is a shade above EDJ with respect to hypocrisy. From the clients perspective it does not matter. You will be the one managing the conflict of interest between yourself and your firm wrestling over how much of the clients money belongs to you!

Dec 14, 2005 10:11 pm

Lance, I beg to differ AGE is not a shade above EDJ, it is a whole f**king galaxy above EDJ.  Bob Bagby makes Doug Hill look like a saint.  Oh Ben, who did you leave us with this POS as a CEO. The convict is running the prison now.  Stop the bullsh*t with the SEC, NYSE, the state of Massachussetts, Illinois, and FLorida and give the money back you and your managers stole. I've said my peace.

Dec 14, 2005 10:22 pm

In my haste I should have said AGE is a whole f**king galaxy below EDJ. 

Dec 14, 2005 10:28 pm

I work for AGE, and have no clue what you are talking about.  I'm relativley new to AGE and think it is heads and shoulders above both Morgan Stanley and the bank I worked for.  Platform and tech are good.  Maybe I've been missing something lately.  I've been very happy so far.  my payout is great, 401k is second to none, reputation is great.  Can somebody clue me in here.

Dec 14, 2005 10:29 pm

I stand corrected. The only thing I know about Bagby is that he can not keep his johnson in his trousers! But the real criminal at AGE is a guy name Doug Kelly - He is the maestro behind all of their Doug has more corporate titles than anyone else in the industry



Check out this from the AGE Website...



"Douglas L. Kelly - Executive Vice President, CFO, Corporate Secretary, Treasurer, Director of Law and Compliance, Director of Administration

Douglas L. Kelly is treasurer, chief financial officer and corporate secretary of A.G. Edwards, Inc. and its brokerage subsidiary, A.G. Edwards & Sons, Inc. He also serves as executive vice president and director of the Administration and Law and Compliance divisions of A.G. Edwards & Sons, Inc.

Mr. Kelly oversees the firm's compliance and law practices as well as its accounting, tax, internal audit, real estate acquisition and risk management areas."





I got to believe that Bagby is Kelly's lackey, he appears to have his finger in everything...has anyone ever seen a public company where one guy has so much authority over so many areas.



My prediction...embarrassing class action lawsuit exposes scandal and Doug and Bagby are forced out. Cought with their pants down and their finger in the pie



Sometime I just start laughing thinking about these frickin hypocrits and the obvious conflict of interest their caught in between the brokers, the shareholders, the clients and the regulators and the plaintiff bar



I am sick of throwing rocks at EDJ - I think I can have more fund with AGE ... Thanks VotedforKerry!

Dec 14, 2005 10:30 pm

Hey Dude you big DOPE!



You work for your clients

Dec 14, 2005 10:55 pm

I wonder if Bob and Doug have the cajones to perjure themselves in court.  Lying to any government official is I believe a crime just ask Martha.  As for Dude, the grownups are talking here.  But just look on a search engine an insert "market timing + a g edwards" and here is one for the record books cut and paste this yahoo.businessweek.com/magazine/content/03_08/b3821095.htm.


Happy Reading and Welcome to AGE

Dec 14, 2005 10:59 pm

http://yahoo.businessweek.com/magazine/content/0308/b382109 5.htm

Dec 14, 2005 11:24 pm

Voted for Kerry, Lance:


Thanks for the insights.  I guess I'll go hang my head in defeat, cry my ass off and pray for forgiveness that I'll be saved for my bad deeds as an AG Edwards broker. 


The link didn't clarify for me why AG Edwards is a crappy company, just that we had a crappy broker, I'm sure we have had many more, just like any other firm.


The market timing scandal: Give me a f*ckin break!


The other issues alluded to didn't clarify anything for me and or moneyadvisor.  I asked a sincere question, you guys are just straight up c*cksuckers. 


Dec 14, 2005 11:32 pm

Money,


Whatever the hell these guys are making a fuss about, I still haven't figured out.  These are probably the guys who invest their whole lives creating the "bash" on Ed Jones threads and can't seem to move on.


I'm sure AG edwards has not been a perfect company, no one has, even Raymond James has gotten slammed.  My understanding is that the reputation is great relative to other "big" firms and I love working here.


I'm still hoping that Lance and Voted can bury their idiotic egos and give us some usefull insights that clarify their issues with AG Edwards as a company.  I've heard that Bob Bagby is no Ben Edwards and leaves a lot to be desired, but it hasn't impacted my business.  He's not calling me and telling me to F*ck my clients.  I am working for them and taking very good care of their financial situations.  I don't have proprietary product pressures like I did at Morgan StanFee or the bank. 

Dec 15, 2005 12:17 am

Buddy, he hasn't asked you yet.  In all seriousness the company execs and managers had a scheme to defraud investors through market timing, late trading, and revenue sharing.  They knew exactly what they were doing.  Before you go running your mouth.  As advisors we are expected to protect clients and put them above the firm and above ourselves.  Once you violate that trust, it cannot be undone.  AGE stole at will and doesn't seem one bit interested in returning that money.  All they can do is deny when many of us know the truth.  And for those who came forward and confronted AGE internally, those people were shown the door.  AGE violated their own internal policies and Federal and State securities laws in the process.  These people deserved better.  I know you are new, but before you call people idiotic, just walk a mile in their shoes.

Dec 15, 2005 12:35 am

Damn Dude, I had to read your posts again.  What are you like 12?  But I like your spirit, defending a company you hardly know.  Geez, you think I had just insulted your mother or something.

Dec 15, 2005 10:34 am

I'll say this. Anything now is better than this half attempt at having a BD with an insurance co.  I had them close a wrap account on a client when all they wanted was to open up a new account with check writing.  They say they have a BD but really its 5-8 people sitting somewhere using NFS.  I know for sure I need to make a change.  Selling insurance was not my intent.  I did no need a series 7 to puch annuities.  Thats why I'm BD shopping.

Dec 15, 2005 12:12 pm

I worked for AGE for a few years and was once high on their kool aid. Then reality set in and I realized that they are just another wirehouse. I started a few years ago when Bagby started changing things. Some of the changes have been for the better (technology) and some for the worse (branch management, home office pressure). My branch manager isn't worth a s%!@. He actually thinks he's bringing in the business when he is cherry picking the home office leads and exiting brokers books of business.


2 other things I didn't like were the push to sell more managed futures and annuities.


I was really pumped when I joined the firm. Had a good BM (non-producing)then moved to a new branch and had  a really shi*&^ producing BM. But that's the way it goes. I can remember the Saturday morning breakfast club broadcasts. They had a guy on one time from NJ or NY that all he did was seminars for annuities or managed futures. Only 2 choices for his clients.Yeah his payout was great but what about the clients.

Dec 15, 2005 1:03 pm

Voted,


I asked a sincere question and all you guys did was dump a bucket of crap on my head.  If you really were interested in something other than inflating your self esteem you would have just answered my question.  How can I walk in your shoes if I don't know where you come from?  I didn't know that you worked for AGE. 


Frankly, anyone who sh*ts on someone for asking a quesiton is an a*shole in my book.


Dec 15, 2005 1:13 pm

Even if AGE was involved in that garbage, you tell me a major firm that wasn't?  Hell even smaller "independent" firms like RJ have been hit up by the regulators.  Your words are equally valid for virtually all of the major financial services firms.  Based on your ferver, I was expecting to hear of something uniquely eggregious, that is not common knowledge.  I'm not defending the perpetrators or deeds of the wrongdoers (which should be punished), just putting it into perspective given the last 5 years in our business.  I was getting calls almost daily at Morgan when they were in the WSJ on an almost daily basis.  It happened to 'em all. 


As far as I'm concerned AGE is a fine firm to work for relative to the other Brokerages.  Money, you'd probably like it here.


Dec 15, 2005 5:09 pm

Dude, the events that transpired at AGE we're much different.  Were they egregious? No other firm had the CEO and CFO directly connected to securities fraud.  You act like I was accusing them of stealing $100 from petty cash.  If you walked into a bank and stole $10 or $20 mil would you get a fine or a thirty year prison sentence.  What exactly is the difference in what AGE did? 

Dec 15, 2005 6:00 pm

Look Voted,


Fine, I get your point.  I don't see it in my everyday work or environment, I'm not worried about how it will affect my business. 


My issue is your disrespectful response to my question. 


I'm not comparing it to stealing petty cash, it is bad; but not any worse than the World Com, Enron, Bshare proprietary fund etc, etc.....  crap that's been going on.  Investor's have gotten bilked for billions of dollars the last five years..... old news friend.  Does not make it o.k. but why aren't you as energetic or balanced about the smithbarney, merill, morgan(...on on on and on) improprieties.

Dec 15, 2005 10:30 pm

That BM Gibbs in Georgia was  hyped internally by AGE for being a
big producer. Funny how they aren't talking about him any more. A lot
of the AGE producing BM's aren't worth a sh@#.