How is Jones' Technology?

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Jun 22, 2005 11:47 pm

Communications charges agains P&L: $1425

Quote from guy in region in charge of disseminating the latest technology propoganda:

"The firm wants to increase the number of offices so we can spread our tech costs over a wider base"

For that much money I should be able to place trades via voice command in my car while driving past the regional meeting to a real resort for some R&R.

I repeat,

"Communications charges agains P&L: $1425 "

10,000 offices and shrinking every day.... how's that bigger base coming Dougy.  Do you think the tech charges will go up or down from here.  How about PDA support and those tablet PC's I heard about. Sh*t how about DSL.

Out.

Jun 23, 2005 7:52 am

[quote=gpwanabe]

"The firm wants to increase the number of offices so we can spread our tech costs over a wider base"

[/quote]

Believe it or not, that's the same thing they were telling us back in 1997!  What are they thinking?  "Build it and they will come"?

Jun 23, 2005 8:08 am

interesting description of my former firm. Although trying to enter the technology age my former colleagues still can't email clients like I can.

Have a read a ZDNet article

http://blogs.zdnet.com/ip-telephony/

Even Luddites can change - gradually

-Posted by Russell Shaw @ 12:00 pm 
General Products News <?:NAMESPACE PREFIX = RDF />

I remember reading a Wall Street Journal article a few years ago examining broker Edward Jones' then-apparent resistance to technology innovation. The piece mentioned that - in contrast to the sweeping momentum of online investing and ubiquitous broker contact options of most other investment services firms, Edward Jones brokers preferred customer contact through phone and in-person visits to one of their 6,000 retail locations. Some brokers didn't have email addresses.

Old phones, and no email. So "90s"- 1890s.

Yet even Luddites can change- at least somewhat. Today, Edward Jones and 3Com announced that the broker would be purchasing the 3Com Convergence Applications Suite. The core of the solution is the 3Com VCX IP Telephony module, which includes IP telephones, 3Com 4400-PWR enterprise switches, and the3COM Router 5000.

Combined, The Suite offers IP Telephony,IP Messaging, IP Mobility and IP Contact Center services.

First on board for the retrofit: conversion of Jones' St. Louis coroporate HQ to a 3Com-based IP telephony solution.

Oh, but still no email, at least not overtly on the Edward Jones website. Their agents have contact forms. Understandable in the age of spam, but …

Jun 24, 2005 2:20 am

This just keeps getting better and better.......................

Notice how all of the Jones defenders have left the building?

Could it be the TRUTH hurts?

Also they all got busted for slamming instead of stating facts

By the way that $ 1,425 was about what I paid all last year including new Programs and upgrades..........Those GP's do know how to cook the books, don't they?

Just maybe it's needed in St. Louis to pay those $75 Million in Fines, oh they said it wouldn't cost the IR in the field, but they also said the field was it's only source of revenue, didn't they? 

Doug "3" Mil Hill to the Greatest Sales Force in the world...suckers, oh that was a miss print or was it?

Jun 24, 2005 10:22 am

Now we should talk about what we are paying for. I’m suprised nobody has mentioned that antiquated order by number portfolio system yet.



"I’ll take one number 3 and super size it please"



Translation: Person coming in with large rollover that falls into the "High Income and Savings Years"



The best is when they tried to add color to it and couln’t get the graphs to print out right. So ot looks no better than black and white (now its yellow and green or something) and the bar graphs overlap each other.



Jun 24, 2005 10:34 am

I can access my office from PC...I can access my office email from any PC so I can send messages to clients and my office staff from any PC.

The technology is light years ahead at most firms when compared to Jones.   Why then do the IR's rate it so highly in RR annual survey?  That's how isolated the typical IR is from the truth and how much they buy into management's spin. 

Everything I thought about going indy has come true--in fact, it's even better than I envisioned.  But, hey--we can't really compare Jones and Indy, can we? 

Jun 24, 2005 10:53 am

port,sample,3,p-all



breathtaking.

Jun 24, 2005 3:32 pm

So the way I figure it 1400 times ~9000 offices equals roughly $13 million per month in revenue that they do not have to pay bonuses on.



I’m sure that covers the fees to the suppliers of Portfolio, JCMS, Jones Link, the great new Quotes and Research and of course "Intercom"



Actually I’m quite sure those were all cooked up in house so there are no licensing fees.



At this rate 6 months of tech fees pays the 75 million fine and then some. Maybe enough extra for a golden parachute for the fallen hero D3MH.

Jun 24, 2005 3:46 pm

How do you think we pay our unamed partner in charge of technology all that money.

Jun 24, 2005 4:08 pm

D3MH

By the hard work, sweat and tears of the poor basterd who calls themself "IR".

By the way, there used to be a cartoon called "I R Baboon"

SA_Jim

Jun 24, 2005 9:38 pm

Whatr happen to all the Jones Drones and Clones telling us how good it is?

The TRUTH....BITES!

Jun 28, 2005 1:44 am

Talking technology with Jones IRs is like fighting a one legged man in an a** kicking contest. It just ain’t fair.

Jun 30, 2005 1:58 am

smoke N mirrors,

Can't add to that!   Well said...................

Jul 5, 2005 12:09 pm

According to the "Uptick" Rich Malone just won the Computerworld 100 award for leadership and innovation as a corporate IT leader.

If you go to the Computerworld website, it says that the award was for Jones being one of the top 100 places to work.

Now, being a great place to work is fantastic for Jones, but I bring it up here because it is another example of Jones twisting the truth to make one of their weak points look better.

Jul 10, 2005 9:10 pm

[quote=brokerbob]

According to the "Uptick" Rich Malone just won the Computerworld 100 award for leadership and innovation as a corporate IT leader.

If you go to the Computerworld website, it says that the award was for Jones being one of the top 100 places to work.

Now, being a great place to work is fantastic for Jones, but I bring it up here because it is another example of Jones twisting the truth to make one of their weak points look better.

[/quote]

Brokerbob,

Well said, it's just like Edawrd Jones wins another JD Power award, they are all over the local papers, bragging about it, and at the same time they have failed to level with their clients about revenue sharing...........I don't understand how any honest IR  can stand to stay there any longer..............