EJ wins JD Power Cust Sat Award

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Apr 20, 2005 2:21 pm

OK, just came from breakfast and saw an old EJ buddy training a new EJ drone.  He could not contain himself in telling about the JD Powers Customer Satisfaction Survey.


This is like the punk kid on your sons football team making the winning touchdown.  You just know that they are going to be throughing this in the face of everybody.

Apr 20, 2005 2:28 pm

I am sure it is rigged just like the RR mag survey, Fortune survey and Dalbar etc etc etc

Apr 20, 2005 2:46 pm

I'll be throwing this in everybody's face, but I'll throw it knowing how how to spell the word throw. What a dork.

Apr 20, 2005 2:47 pm

Looks like their brokers aren't the only ones that are drinking the kool-aid from a beer bong.

Apr 20, 2005 9:05 pm

Do real people still use the word "dork"?  Wow William, you know how to slam a guy.  I don't know how I am going to get up from that one.

Apr 21, 2005 12:00 am

What always killed me about Jones was that any positive publicity was all absolutely true.  All of it.  Every word.  Anything negative written about the company was not credible--in fact an outright lie.  Just look at their reaction to the whole revenue sharing thing.  You can't have it every which away.  If you're going to go running around like that punk kid mentioned in the previous post saying, "See I told you, see I told you!" then you also have to accept some of the criticism.  Jones has never accepted any criticism with the slightest hint of humility.   

Apr 21, 2005 12:11 am

I'm curious...does anyone know how JD Power gets it's data? 


Companies that expect to do well can manage, I'm sure, to have clients included in the polling.  But what of companies like Schwab and Waterhouse?  I can't see them telling the pollsters, "Hey!  Call over to the Smith household!  They hate our guts!"

Apr 21, 2005 12:23 am
Soothsayer:

What always killed me about Jones was that any positive publicity was all absolutely true. All of it. Every word. Anything negative written about the company was not credible--in fact an outright lie. Just look at their reaction to the whole revenue sharing thing. You can't have it every which away. If you're going to go running around like that punk kid mentioned in the previous post saying, "See I told you, see I told you!" then you also have to accept some of the criticism. Jones has never accepted any criticism with the slightest hint of humility.





Tooth Decayer,



What did Jones says was "an outright lie" regarding revenue sharing?



Apr 21, 2005 8:09 am

bpd,


not only don't you lool-aid swillers comprehend sarcasm, yous guys clients don't read The WSJ (or that's what your lame duck managing principal claimed)      

Apr 21, 2005 10:05 am

CJ,



Could you please trnslate your comment into english for me? Maybe then I will respond.



BPD



Apr 21, 2005 10:21 am

It seems simple to me why a company would be hesitant to admit wrong doing. They don't want consumer confidence to drop. That protects the company and the reps. Did Bush admit to wrong doing in Iraq! Sounds like EJ was hoping to ride out the revenue sharing thing as quitely as possible. What's wrong with that? Probably the best thing for the company and their reps. Sounds like a smart business decision to me.

Apr 21, 2005 10:23 am

bpd,


LOL ...  as must be anyone from the "dark-side" of EJ. Are you taking writting lessons from Fakklands as you are just as funny!


As for translating, I guess you would have to have been reading this forum for a number of years to fully understand.


as for the WSJ bit, check out http://registeredrep.com/mag/financeaccused/index.html 


what 30 year bond are suggesting everyone to buy TODAY?

Apr 21, 2005 11:23 am

You guys are all wrong,


Clients for the most part don't really care about Edward Jones.  92% of my clients didn't care or show any loyalty to Jones when I went indy.


The POINT that all you are missing is that if clients are happy it simply means that they are happy with and like/trust their adviser.  Jones brokers have always enjoyed a more personal relationship with their clients due to the one-man office arrangement.  It creates an intimate setting that clients enjoy.  There's your dalbar results right there.


Many clients already view Jones brokers as franchise owners as they don't really understand the relationship.  I remember when a second Jones office opened up in my town--I was first).  Clients asked--HOW could they do this to you?  They saw me as the one they were happy with and Jones as the clearing firm who prints their statemnts and tries to sell them credit cards.


The "my firm is better than your firm" mentality that occurs here circumvents an obvious and often understated fact.  Most clients don't do business with firms--they do business with their advisers. 


Now, if you are talking about what is the best platform to run an office from.....that's a different scenario altogether.  It's indy all the way--no comparison.


Apr 21, 2005 1:57 pm

Zacko, amen.


We need to seperate the IR from the company. 

Apr 21, 2005 3:16 pm

Frank,


That's a big part of being indy is all about.

Apr 22, 2005 10:49 am
Soothsayer:

What always killed me about Jones was that any positive publicity was all absolutely true. All of it. Every word. Anything negative written about the company was not credible--in fact an outright lie. Just look at their reaction to the whole revenue sharing thing. You can't have it every which away. If you're going to go running around like that punk kid mentioned in the previous post saying, "See I told you, see I told you!" then you also have to accept some of the criticism. Jones has never accepted any criticism with the slightest hint of humility.





Sooth,



What did Jones says was "an outright lie" regarding revenue sharing?



Havn't come up with anything yet?



BPD

Apr 22, 2005 11:37 am

bpd,


you're right they never lied.


So could you please explain why


1) your firm agreed to a $75 million dollar settlement


2) your managing partner returned $3 million from his last year's compensation


3) your managing partner agreed to step down in the same settlement


                  

Apr 22, 2005 1:44 pm

Don't Jones customers read this message board? Bunch of idiots. All they seem to care about is good service and solid investments. Don't they understand that Jones payout is lower and they don't have email? Stupid customers.

Apr 22, 2005 3:00 pm

"Solid Investments"  Yea right.  High net worth clients in general do not go to EDJ.  You guys are pikers and the big money knows that.  You can keep plunking along year after year after year Bill.  See how you feel when you have 3000 clients and virtually no trails built up and all you can see in front of you is more of the same for the rest of your career.   More power to you I guess if that is all you want out of your career.        &nbsp ;   

Apr 22, 2005 5:45 pm

Malcolm, you have said a lot of really dumb things before, but this one beats all. 3000 clients with no trails? How about 30,000,000 in MFs at year 4 with a LOT of trails and 567 clients, give or take. When I have "3000" clients, I'll be fine. Unless I jump from firm to firm like Liz taylor jumps husbands.