Jones to Pay $40 million to settle with former IRs
26 RepliesJump to last post
I guess someone at Jones told RR Forum that the previous post was not conducive to EDJ recruitment brochures…
I posted 4 times in 4 different forums and RR deleted the whole string. Censorship at its finest! I can't believe that RR hasn't even picked up the $40 million settlement as a magazine story. Maybe one of the strip mall lawyers, Goldberg,blah,blah,&blah sent them a cease and desist letter.Spike,
If you wouldn't mind emailing me the particulars on this case I would appreciate it You can send it to [email protected]. If it has anything to do with reps having to re-pay training costs I definitely want to hear about it. Thanks! DukeDuke,
It has nothing to do with repaying training costs. It has everything to do with Jones expecting you to pay for all of your expenses and then paying you on commission. It's a Department of Labor violation that they are going to have to pay current and former FA's $40 million bucks.I wonder how they are going to calculate the reimbursement? Time at Jones, costs out of pocket from the rep, commission offest? anyone know?
Don’t let him fool you. Jones released this info weeks ago. It’s the same class action suit that Merrill, Morgan, Smith Barney, and a few others have dealt with.
It's based on a labor law that was passed over 50 years ago, when workers in this country really did need to be protected. Some attorney somewhere has figured out a way to make some money at the expense of the brokerage firms. It has to do with overtime, not the expenses that spiked alluded to. Funny, he didn't start a topic when the same thing happened at the other firms. Why now?Maybe because he use to sell stuff for Jones…and won many turkeys and t-shirts.
This is the second Thurkey joke… BSpears if you are that upset about the damn turkey you can have mine. I normal just pass on it but heck… If you really want it… It’s yours!
See Jonesess are nice, we share.. Miss J[quote=Spaceman Spiff]
Funny, he didn't start a topic when the same thing happened at the other firms. Why now? [/quote] Could be because Merrill, MS and Smith Barney aren't the laughingstock of the brokerage industry.I called Bill Dwyer at LPL to discuss Turkeys. He said , “Get the hell off my ship”…I’m kinda hurt by that.
Ha Ha Ha Ha… You can only get that at the ‘Mother’ ship… Wanna come back… We could get you that Turkey just in time.
Now that I am thinking about it.. We have a couple new offices open.. Believe it or not, I read about them on this website.. I'm sure they weren't lying.. Ha Ha Ha.. Seriously Spears- You crack me up cometimes! Miss JIf I could only make Spiffy laugh...this is all I want. Make spiffy laugh and enjoy the business. He seems bitter after his 10 plus years and not 1 offer to become a GP. I guess the number of turkeys he's won hasn't held up to the superstars in the company. I bet your a lot more fun at the christmas party than spiffy. How many beers before you pass out?
[quote=Philo Kvetch][quote=Spaceman Spiff]
Funny, he didn't start a topic when the same thing happened at the other firms. Why now? [/quote] Could be because Merrill, MS and Smith Barney aren't the laughingstock of the brokerage industry.[/quote] So does that make the Jones settlement any different than theirs? BTW, I think the only people who think that Jones is the laughing stock of the industry would be the people that left Jones. Cause that's the only people I EVER hear it from. Boy, if those millions of happy clients out there only knew what you guys know.[quote=Spaceman Spiff] [quote=Philo Kvetch][quote=Spaceman Spiff]
Funny, he didn’t start a topic when the same thing happened at the other firms. Why now? [/quote]
Could be because Merrill, MS and Smith Barney aren’t the laughingstock of the brokerage industry.[/quote]
So does that make the Jones settlement any different than theirs?
BTW, I think the only people who think that Jones is the laughing stock of the industry would be the people that left Jones. Cause that’s the only people I EVER hear it from. Boy, if those millions of happy clients out there only knew what you guys know. [/quote]
Ask some brokers and clients from Goldman or Bear Stearns how they’d feel about a jump to Jones. You’ll hear the laughter.
[quote=Philo Kvetch] [quote=Spaceman Spiff] [quote=Philo Kvetch][quote=Spaceman Spiff]
Funny, he didn’t start a topic when the same thing happened at the other firms. Why now? [/quote]
Could be because Merrill, MS and Smith Barney aren’t the laughingstock of the brokerage industry.[/quote]
So does that make the Jones settlement any different than theirs?
BTW, I think the only people who think that Jones is the laughing stock of the industry would be the people that left Jones. Cause that’s the only people I EVER hear it from. Boy, if those millions of happy clients out there only knew what you guys know. [/quote]
Ask some brokers and clients from Goldman or Bear Stearns how they’d feel about a jump to Jones. You’ll hear the laughter.[/quote]
or a jump to indy. You’ll hear the laughter.