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How is Jones' Technology?

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May 14, 2005 12:48 pm

Big Pay Day-  been working on some big VA business that might just hit close to home for you.  I love how you and your Jones friends endorse the A share annuity.  But problem is this A share annuity pricing structure will factor in very little when your firm goes through the "exam" for annuities by the regulators.  The fact your firm sells an enormous amount of annuities inside of retirement accounts will be what you will need to defend.  Good luck!

On the tech side do you have real time quotes yet?  I assume e-mail is still a no-no.  Bottom line is due to the one man, one office setting many of the liberties others enjoy will never be available for your Jones clowns.  Well, at least that is what the GPs will say.  Truth be known it probably has more to do with the 60% they are taking from you.

May 14, 2005 6:49 pm

"your firm sells an enormous amount of annuities inside of retirement accounts"

Saw some numbers recently that showed about 10% of revenue coming from annuities.  Don't know how much of that is sitting in an IRA, but the total is not much. 

There are plenty of things to rip on Jones for, pushing annuities is not one of them. 

May 14, 2005 9:45 pm

Most major wirehouses are running 1-3%, so if your 10% is right, which I highly question, then you are still on the high end.  Or at least the regulators will see it that way. 

May 15, 2005 2:45 pm

Truth-

You haven't a clue. If you think EDJ has to justify an A share annuity inside an IRA, to the regulators, then the regulators are on a mission to hurt EDJ. They have too many other opportunities that are alot easier to prosecute elsewhere This firm always made us prove the case for the annuity inside an IRA.

If you have been alive during the last five years, insurance companies have been paying benefits with riders that actually worked for the client when the market fluctuated (fell!). For the majority breadwinner with the huge retirement account especially where the spouse has little or no retirement nestegg, and A share maybe a piece of the puzzle. And when you can hit breakpoints its tough not to consider.

You need to de-sharpen your axe with EDJ. I'll admit the last 6 months have been trying, but the firm will survive despite the constant diatribes from reps on this forum.

BTW- In keeping with this thread EDJ does need to improve their technology now. Still hoping for email and remote access. Someday soon, actually sometime this summer I have been told. Truth- If you want to look for a wound inside EDJ.....it's the technology.

May 15, 2005 3:53 pm

It not Truth (or any other poster here, for that matter) or the regulators who’s “wounding” EDJ…it’s the management at Jones itself that’s done the damage.  Look nowhere else.

May 17, 2005 2:17 am

Truth (a.k.a. False, Suzie Orman),



[quote=The Truth]

Big Pay Day- been working on some big VA business that might just hit close to home for you. I love how you and your Jones friends endorse the A share annuity. But problem is this A share annuity pricing structure will factor in very little when your firm goes through the “exam” for annuities by the regulators. The fact your firm sells an enormous amount of annuities inside of retirement accounts will be what you will need to defend. Good luck! [/quote]



Do you agree that A share pricing on an annuity is better over the long term than B share pricing especially when working with more than $100,000? Of course you do, unless you really are Suzie Orman. OK, then why is Jones the ONLY firm on the street to have A shares? The exam for annuities has been going for quite some time. Jones has and will do just fine.



[quote=The Truth]On the tech side do you have real time quotes yet? I assume e-mail is still a no-no. Bottom line is due to the one man, one office setting many of the liberties others enjoy will never be available for your Jones clowns. Well, at least that is what the GPs will say. Truth be known it probably has more to do with the 60% they are taking from you.[/quote]



Real time quotes - yes, had for more than 10 years at least

Email - soon

Do to the one man / one office model Jones is very much different than our competitors and very hard to duplicate. Differences sell, and differences make our competitor’s jealous.

My pay out last year when you include commissions, bonus, profit sharing, trips, LP return and Goodknight plan reimbursement was over 60%.



BPD



P.S. Ever wonder why Jones is talked about so much on this board? Probably more than 60% of the posts. It’s the same reason the Yankees or Cowboys get the highest ratings when they are on TV. They’re the best. And when you’re the best either you’re loved or hated. There is no middle ground. Either you’re one of us or you want to be one of us and you’re jealous.



Ask yourself this question: Why is it year after year JD Power ranks the Lexus the best atumobile and Edward Jones the best brokerage firm in customer service? Why? They’re the best. Period.







May 17, 2005 12:47 pm

hey candy bar (I see some else thinks you're nutty),

email response is the same one that has been given out for the last ten years.  It's got nothing to do with Compliance as FS already has a program that reviews ALL incoming emails sent to ir via their webpage. There is more than enough storage space in AZ, it's strictly because your firm embraced (or is that embrassed) an old and cheap technology ..... say where is that satellite that went dead last Thanksgiving (talk about a turkey!)

Cowboys and Yankees the best??? I guess you must be talking about the Yankees payroll as they last won the Series in 2000. As for the Cowboys, they last won the SuperBowl in 1996 and now have two quaterbacks named Drew (one is a Buffalo Bills reject .... go figure) and had a better record than 5 other teams last year. Or are you talking about the 2003 season?

And you still don't understand about your own firm.  It's not the firm that gives good customer service, it's the individual ir.

May 18, 2005 2:45 am
Phlyin' Phule:

It not Truth (or any other poster here, for that matter) or the regulators who’s “wounding” EDJ…it’s the management at Jones itself that’s done the damage. Look nowhere else.



Fool,

You're right Ted Jones, John Bachmann and Doug Hill have just run this firm into the ground.

Not!

Take a look, if you can stomach it:

http://www.edwardjones.com/pdf/COM-101D.pdf#search='edward%2 0jones%20hawaii'

BPD
May 18, 2005 11:46 am

candy bar,

What does your post have to do with answering tech questions?  How where the 41 Hawaiian irs affected by your firms "leading edge" communications system outage around Thanksgiving? At least these irs don't have to climb up on a roof to brush the snow off a dish. 

Check with your Legal department how many job related injury lawsuits your firm has settled on regarding slipping off a ladder or roof to keep your "leading edge" technology working?   

May 18, 2005 11:49 am

Ted Jones was a good and just man.

Please don't associate those other two pikers in with him.

May 18, 2005 12:36 pm

Wait a sec, these people don't even have EMAIL???????

When did they get telephones in their offices, or are they still waiting on that too?

May 18, 2005 1:13 pm

Stan, judging by the thorough knowledge in evidence, quality and intellectual content of the posts submitted here by Edward Jones people, I’m not sure that they have opposable thumbs over there.  And you want to give them technology???

May 18, 2005 1:54 pm

candy bar,

I heard EJ Canada branches still used Burrough's (sorry about the spellin) machines up to around 1996 or 97 and thermal paper fax machines until 2002. Is this part of that "leading edge" technology?

candy bar could you also explain what a "wire" is at your firm?    

Could you also describe what programs your firm provides for asset allocation reviews?

May 19, 2005 1:09 am

[quote=Starka]

Ted Jones was a good and just man.



Please don’t associate those other two pikers in with him.

[/quote]



These two “pikers” have grown the firm from 541 offices in 1982 to more than 9500 today. Ted pretty much was out of the business in 1982, he passed away in early ‘90s.



Take a look:



http://www.edwardjones.com/pdf/COM-101D.pdf#search='edward%2 %200jones%20hawaii’







BPD
May 19, 2005 2:12 am

I know when Ted died.

Bachman is everything that Ted was not.

Hill is nothing but a fall guy...a cipher and nothing more.

Pikers.  Both of them.

May 19, 2005 2:14 am

Imagaine how strong Jones would be with some good leaders? Huh?

May 19, 2005 2:19 am

YES!!!  FINALLY YOU GET IT!!!!!

Edward Jones could be a leader in the industry with the right leadership!!!

May 19, 2005 2:55 am

Starka,



It’s a shame you left. You could have been our saviour?



Not!



Just think, if you stayed with Jones you wouldn’t spend so much time on this board. Just think how much stronger the relationships with your spouse and children would be if you spent all the time on this booard insted with them!



No, that wouldn’t be worth it, would it?



Dude, get a life.

May 19, 2005 12:25 pm

[quote=xej1984]

candy bar,

I heard EJ Canada branches still used Burrough's (sorry about the spellin) machines up to around 1996 or 97 and thermal paper fax machines until 2002. Is this part of that "leading edge" technology?

candy bar could you also explain what a "wire" is at your firm?    

Could you also describe what programs your firm provides for asset allocation reviews?

[/quote]

bpd,

why you ducking my questions?

May 20, 2005 2:49 am

So I guess Jones isn’t going to fail because of the revenue sharing settlement so its back to bashing our technology? At top producers last month a vote was taken and of the reps that were there 80% said they did NOT want email for client use. Wonder why? We don’t want to be bothered. Our technology is just fine. We have had internal email before there was an internet. It’s called an intranet. And we’ve had it since the early 90’s.



BPD