Jones haircuts

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Dec 30, 2005 7:10 pm

question to the former jones brokers: what haircuts does jones give their reps on mutual funds? i knew that we get haircuts on annuities and life insurance. specifically, i was curious about service fees. we get 25 basis points on trails. i noticed that some fund companies pay 35 basis points on 12b1 fees. are you indies or wirehouse brokers getting 35 bps on any a or b shares funds?  any other haircuts the average unsuspecting jonser like myself is not aware of?   doubleb

Dec 30, 2005 11:50 pm

I think they like the combover and the bowl cut.  But only from a few preferred barber shops.

Dec 31, 2005 8:48 am

DoubleB


I know that there is 75 bps on each fund trade that we do not get with at least every A Share.  Majority of others get the full 5.75 if the charge is 5.75, not 5%. 

Dec 31, 2005 10:56 am
Cowboy93:

I think they like the combover and the bowl cut.  But only from a few preferred barber shops.





That is funny.

Dec 31, 2005 1:14 pm
dollarbills:

DoubleB



I know that there is 75 bps on each fund trade that we do not get with at least every A Share. Majority of others get the full 5.75 if the charge is 5.75, not 5%.





All funds are sold by prospectus. Per the propsectus for American Funds American Mutual (check page 19).



Try this link:

http://adviser.americanfunds.com/literature/catalog.htm?cat= 5&r=ht



It says for A shares under $25,000 dealer commission as a percentage of offering price 5%. Occasionally Mutual Fund companies will have specials, usually when they are introducing new funds, where they will pay full dealer reallowance. Jones has not allowed full dealer reallowance for some time feeling it was not in the best interest of the client.



Variable annuities are also sold by prospectus as well.



BPD

Dec 31, 2005 3:06 pm
BigPayDay:
dollarbills:

DoubleB



I know that there is 75 bps on each fund trade that we do not get with at least every A Share.  Majority of others get the full 5.75 if the charge is 5.75, not 5%. 




All funds are sold by prospectus. Per the propsectus for American Funds American Mutual (check page 19).

Try this link:
http://adviser.americanfunds.com/literature/catalog.htm?cat= 5&r=ht

It says for A shares under $25,000 dealer commission as a percentage of offering price 5%. Occasionally Mutual Fund companies will have specials, usually when they are introducing new funds, where they will pay full dealer reallowance. Jones has not allowed full dealer reallowance for some time feeling it was not in the best interest of the client.

Variable annuities are also sold by prospectus as well.

BPD



Jones allows full dealer reallowance. They just allow themselves to have it and then haircut the brokers.

Dec 31, 2005 6:44 pm

Dirk,


I'm beginning to like you, hell you can come over my house and *$%# my sister...


Beware of any BPD comments - he's a trainer at the jones home office.  "feeling it was not in the best interest of the client"  huh????


Somebody is getting paid that piece which affects the client the same!

Dec 31, 2005 7:17 pm
csmelnix:

Dirk,


I'm beginning to like you, hell you can come over my house and *$%# my sister...


Beware of any BPD comments - he's a trainer at the jones home office.  "feeling it was not in the best interest of the client"  huh????


Somebody is getting paid that piece which affects the client the same!



Tell me more about your sister.

Jan 2, 2006 12:05 pm

 What about 12b1 on the great edj money markets who gets those? What a nice surprise to find out I RECEIVE service fees on mm and the client gets a higher return!!! A course this happened after I left edj after 10yrs  

Jan 2, 2006 1:57 pm

You mean that the Jones money market doesn't yield less because it is invested in safer, lower yielding securities. Tell me it isn't so. 

Jan 2, 2006 2:01 pm

BPD


Wow are you gullible or ignorant either way no wounder Jones likes you! But you got to admit you come off looking like a BUTT KISSER  for Jones!


Sorry But that is what I see.