Skip navigation

Arbitration and The Green Machine

or Register to post new content in the forum

210 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.
Apr 17, 2008 5:55 pm

CIB—if it were me I would split the ticket and put into ICA and VK Comstock…get the FULL load…take just a little off the top and buy PFE and have the dividends and int off the mutual funds directly reinvest into PFE…I am a revenue machine…and a year from now if PFE still isn’t doing anything I will sell PFE and purchase dell and move comstock to LA affiliated and move ICA to a tax free bond paying 3 points…

Apr 17, 2008 6:10 pm

Funny…

Unfortunately spears this is a loophole EJ compliance doesn't really have a system to track. You can set everything to pay cash dividends, and then reinvest it at sales charge when you are contacting the clients. Word is there was a guy doing this that was a "top producer" in his region. Every stock, bond, and mutual fund was paying cash dividends. I guess he even talked about it at presentations to the region and no one asked if he was charging sales charges on the reinvestments. Later it was learned that he was.
Apr 17, 2008 6:14 pm

I bet we were in the same region…My RL/GP had a board with investments in circle.  Everything stocks, funds, interest was paid to the mmkt.  Then there was another arrow pointing to a word…what was that word…OPPORTUNITY…yah thats it…I know them all…every trick…every gimmick…every smoke screen…

Apr 17, 2008 8:15 pm
bspears:

I bet we were in the same region…My RL/GP had a board with investments in circle.  Everything stocks, funds, interest was paid to the mmkt.  Then there was another arrow pointing to a word…what was that word…OPPORTUNITY…yah thats it…I know them all…every trick…every gimmick…every smoke screen…

    I'm literally praying that this didn't (and doesn't) really happen.   If it did, to say the least, I'm nauseated.
Apr 17, 2008 8:24 pm

Borker, other than LPL, I’ve been at one firm, EDJ’s.  Are you suprised at this sales aid…I could come up with dozens more…

Apr 17, 2008 8:45 pm

I have a serious question. Would this mutual fund change be an issue if it were a C share or in a managed account?

Apr 17, 2008 10:11 pm
Borker Boy:

[quote=bspears]I bet we were in the same region…My RL/GP had a board with investments in circle.  Everything stocks, funds, interest was paid to the mmkt.  Then there was another arrow pointing to a word…what was that word…OPPORTUNITY…yah thats it…I know them all…every trick…every gimmick…every smoke screen…

    I'm literally praying that this didn't (and doesn't) really happen.   If it did, to say the least, I'm nauseated.[/quote]   Quite honestly I really hoped it wasn't true as well, especially because of how highly regarded this IR was (probably much like Spears GP/RL, maybe it was the same guy). I really couldn't believe everyone was that blind when I was asking the question to myself as a 3 year vet. It was too obvious.    
Jun 7, 2008 2:03 pm
wombat:

Hi there, I left Edward Jones 8 days ago. I moved to Raymond James. I had gross of $365,000.00 in 2007. I have worked for Jones for 6 years as a licenced FA. I have no limited partnership and although I do win the trips they are a taxable benefit and believe me the tax is not inconsequential. I have done about 3 months volunteer service in EJ in those 6 years. I have now joined Raymond James. I received a substantial transition and bonus payout. I own my own book now but didn’t before I left. It is worth around $500,000.00 to sell at its current value. The payout on the independent platform is 85%. Sue I have costs but I am sharing them with another FA that left with me. By my calculations my net payout will be about 70%. Twice the payout I was receiving at Edward Jones. Add that all up and it was a million dollar move for me. I am staggered that more FAs haven’t seen the light. I am sure that increasingly many will. Alan AKA Wombat

  This is my first post, sorry if I screw something up.  To Bspears and others... I am looking for advice.  I have worked at Jones for 8.5 years.  Trailing 12 months gross is about $350k.  I was a "new-new",  starting a new Jones office in new location from scratch, in a town where I had virtually no business or personal relationships.  I followed their formula, did all the door knocks, seminars, etc., and now have a very loyal clientele.  I am Seg 4, winning every trip, and getting profitabilty bonuses every trimester (about $20k in 2007).  In the last LP offering, approx 18 months ago, I was passed over.  I had enough profitability, but apparently not enough volunteer hours.  The same thing happened to two other FAs in my region.  The real slap in the face was that, due to our profitablity, and OUR own rec's, our BOAs were all offered LP shares.  Our RL/GP has never discussed this with us.  He did however, "highly recommend",  all three of us for "Visiting Vet" duties in STL.  All three of us have completed 2 out of 3 VV weeks in STL this year for no compensation, with the hope that we will get some LP in the next offering. Between the three of us, we should have close to $200 mil AUM.  Advice???
Jun 7, 2008 2:31 pm

Go Indy once the market turns!  PM me and I’ll give you a blueprint.

Jun 7, 2008 5:28 pm

It’s time to move on. I can supplement uwec’s advice if needed. He and I both had very good moves to Indy.