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Aug 6, 2008 6:43 pm

What types of investment managers does EDJ clients have access too. I was always curious about the platform. I've always heard their platform isn't catered to high networth individuals, and is why they excel in smaller more rural towns? Do you have access to Harding Loevner, Neuberger, Renaissance, Wentworth Hauser etc? What types of investment managers do you have access too?

Aug 6, 2008 7:18 pm

If you are referring to our SMA platform, we have access to about 30 or so different managers. If that is the focus of yuor current business, Jones might not be the place for you. I don't think they put enough focus on the SMA business yet.



If you are referring to MFD managers, we have a few hundred managers we can use (no no-loads except in our managed advisory platform).

Aug 6, 2008 7:56 pm

Does it matter? Are those "gurus" you mentioned beating the market by 10% a year or something?

Aug 6, 2008 7:59 pm

Yes it does matter. We actually lost a 3 million dollar account because we didn't have access to an investment manager that Credit Suisse did- and yes many of them are beating the market > 10%

Aug 6, 2008 8:46 pm
jtx25:

What types of investment managers does EDJ clients have access too. I was always curious about the platform. I've always heard their platform isn't catered to high networth individuals, and is why they excel in smaller more rural towns? Do you have access to Harding Loevner, Neuberger, Renaissance, Wentworth Hauser etc? What types of investment managers do you have access too?

American Funds.  They also have American Funds.  Or, if your client would prefer, you could do American Funds.  Jones and serious money management in the same breath?  Your kidding, right?
Aug 6, 2008 8:55 pm

American funds eh? Wouldn't an investor be better off finding an updated asset allocation model online, opening up a discount brokerage account and doing it themselves? Speaking of which, is EDJ considered a discount broker? I didn't think it was....

Aug 6, 2008 8:59 pm

Right, Right, Right. That long, long, long list of managers who are always beating the market by 10%. Keeping looking for them and continue to chase returns for your clients after the fact. I wish you luck and you will need it.

Aug 6, 2008 9:03 pm

Good luck w/ American Funds! ( Your clients will need it!)

Aug 6, 2008 9:07 pm

Is that the rumor? Jones guys only use American Funds? Wow. That is a new one. Is another rumor they knock on doors to find clients? If only they had access to Neuberger, the clients would just come right in.

Aug 6, 2008 9:11 pm

Neubergers minimum is 100k- that may weed out 95% of your clientele.

Aug 6, 2008 9:17 pm

That will weed out 100%. Im at Jones so I only do $50/month DCA's. Oh, and I cant tie my shoes.

Aug 6, 2008 9:19 pm
Soothsayer:
jtx25:

What types of investment managers does EDJ clients have access too. I was always curious about the platform. I've always heard their platform isn't catered to high networth individuals, and is why they excel in smaller more rural towns? Do you have access to Harding Loevner, Neuberger, Renaissance, Wentworth Hauser etc? What types of investment managers do you have access too?

American Funds.  They also have American Funds.  Or, if your client would prefer, you could do American Funds.  Jones and serious money management in the same breath?  Your kidding, right?
 
Give me a break.  People come on here spouting this and that about their ecclectic, beating-the-market investment investment style all the time.  You know who is the largest American Funds partner?  Edward Jones?  Ohhh, juuuust a bit outside.  It's Merrill Lynch.  Yup, the big boys of Wall Street.  Those brilliant guys that just wrote off a few dozen billion.  They are the biggest AMF users.  And how many investors have been seriously hurt by AMF?  I can tell you, it's far fewer than those that have been helped by them.  Does it take a genius to put together an AMF portfolio?  No.  It also doesn't take a genius to sell your firm's IPO-of-the-week to every client you have.
 
I have no idea what firm you are with, or if you are indy.  But the idea that (1) something is inherently wrong with AMF, (2) that it's the only product Jones sells (we do 50% MFD's, and of that, about 60% is AMF), and (3) that Jones is the only firm selling AMF is just plain wrong.  I know some Indy's that sell ONLY AMF.  Nothing else.  No bonds.  No stocks.  No Blackrock or Ivy or First Eagle.  No SMA's.  No advisory accounts.  Not even C shares.  Nothing but plain old vanilla American Funds A shares.  And no, they are not ex-Jonesers.
 
I have no problem with anyone else's investment style.  There are a million ways to solve our client's investment needs.  But when people come on here and make stupid statements about American Funds, it just sounds, well, stupid.  And for the record, I do use AMF, but only a few of their funds.  I probably use funds from about 6 different families (and AMF and Franklin are the only "preferred" families I use).  In addition to over 100 MFD families we can use, we also have another 20 or so (including no-loads) in our advisory platform, and about 22 SMA managers.  No, it does not span every firm in the world, but it gets the job done just fine. 
Aug 6, 2008 9:24 pm

Well said.


 
Aug 6, 2008 9:49 pm

Maybe that can be your pitch- " Hello Mr Don Nodueligence- don't worry about those investment managers that MS, ML, SB and UBS have access to, and dont worry about the silly syndicate their investment bank underwrites,we get the job done just fine."

 
Give me a break- I didn't ask the question to pick to pick a fight, I was trying to learn about your platform.
 
Aug 6, 2008 10:06 pm

You are obviously too smart for Jones. We only hire idiot robots like myself. Stick your head back into your financial engineering book and find those all-world managers who beat the market by 10% every year. Your career will depend on whether or not you find them !!!!!!

 
PS - When you do find them, don't tell anyone. You will have a huge competitive advantage.
Aug 7, 2008 9:16 am

Ron14 , glad to see you are back and in true street fighting form!! Like you and B24 always amazed at the next movers and shakers that are going to be able to beat the market. Once someone has the answer may I respectfully suggest let's invest BIG TIME in that firm. Why invest in the Market.....just invest in the firm , your proxy to win/win. PM with the name , I am ready to retire.

Aug 7, 2008 9:21 am
jtx25:

Maybe that can be your pitch- " Hello Mr Don Nodueligence- don't worry about those investment managers that MS, ML, SB and UBS have access to, and dont worry about the silly syndicate their investment bank underwrites,we get the job done just fine."

 
Give me a break- I didn't ask the question to pick to pick a fight, I was trying to learn about your platform.
 
 
JTX,
I should have clarified.  My rant was not aimed at you.  You were simply asking what managers we had access to.  Then Sooth has to come on and start bashing Jones (yet again), because we use a lot of American Funds.  The problem is, because a lot of FA's use AMF at Jones, the picture gets painted somehow that it's ALL we use, or ALL we have access to.  Just not true.
 
Sorry for the misguided missile!
Aug 7, 2008 11:35 am
jtx25:

Neubergers minimum is 100k- that may weed out 95% of your clientele.





My guess.... You're a snot nosed 23 year old kid who just graduated from college in May. You think that because you're on a team that manages a substantial amount of money and that your job on that team is to get coffee for clients when they come in that you are an exceptional money manager by default. Number one, grow up. Number two, after you have successfully built your own practice, then feel free to come and spout off. Unbelievable the amount of arogance kids these days have. I'll bet you also think that Obama IS the messiah.

Aug 7, 2008 12:31 pm

Wow, I think I caused a train wreck.

Aug 7, 2008 12:34 pm

Wooaaah Woooah- Sorry Incredible Hulk, apparently I hit a sensitive spot. I do work for a high powered group though, I do have my own clients, I'm not arrogant, merely curious.

Go McCain!