Attention Business Editors:

self-regulatory organization and representative of the securities industry.
The IDA’s mission is to protect investors and enhance the efficiency and
competitiveness of the Canadian capital markets. The IDA enforces rules and
regulations regarding the sales, business and financial practices of its
Member firms and its approved persons. Investigating complaints and
disciplining Members and approved persons is part of the IDA’s regulatory
role.

Does anyone know how much EJ has in AUM?

The last I read the averaged approx 25 mil/ broker it was in some broker magazine. 

Jonestown:

A couple definitions by Webster:

1. envy
Pronunciation: 'en-vE
Function: noun

Definition:

Painful or resentful awareness of an ADVANTAGE enjoyed by another joined with a desire to possess the same ADVANTAGE.

2. jealous
Pronunciation: 'je-l&s
Function: adjective

Definition:

Hostile toward a rival or one believed to enjoy an ADVANTAGE.

Truculent: 1. Having or showing an eagerness to fight: bellicose, belligerent, combative, contentious, hostile, militant, pugnacious, quarrelsome, scrappy, warlike. See ATTACK.

2. So sharp as to cause mental pain: acerbic, acid, acidic, acrid, astringent, biting, caustic, corrosive, cutting, mordacious, mordant, pungent, scathing, sharp, slashing, stinging, trenchant, vitriolic. See ATTACK, RESPECT.

3. Showing or suggesting a disposition to be violently destructive without scruple or restraint: barbarous, bestial, cruel, fell2, feral, ferocious, fierce, inhuman, savage, vicious, wolfish. See KIND.

I guess Big Pay Day changed his name to Webster.  I guess his GP was monitoring his posts and this forced him to change names.  Doesn’t matter because he is still pretty dumb.

Edward Jones, a financial services company based in St. Louis, Mo., is seeking investment advisers to set up offices in the Twin Cities area.

John Murphy, an investment adviser in West St. Paul, said the company wants to open 100 two-person offices in the next three to five years. An office would have an adviser and an office manager, doing business with individual investors and small business.

"We are a company that is growing," he said. "We find a lot of call for one-on-one service."

Since he joined the company in 1998, the number of offices has more than doubled to 8,000, mostly in the United States. There are 90 offices in the Minneapolis-St. Paul area.

"Folks that have an entrepreneurial spirit tend to be the most successful," Murphy said. "We tend to look for folks who can operate like their own boss."

Up to a point. The investment advisers are all employees of Edward Jones, not franchisees. The company sets up the office, hires an assistant and gets the brokers up and running. "The person coming in does not borrow a dime," he said.

The new hires are on the payroll as they study for the securities licensing exam. They'll also attend a series of training classes and have mentors in St. Louis.

In the first year, there is a guaranteed annual base salary of $24,000, with a bonus and commissions on new accounts. After that, it is entirely a commissioned position. By the third year, advisers typically make between $61,000 and $72,000. By the fifth year, advisers are expected to make between $92,000 and $102,000.

If interested, call Murphy at 651-455-0319. For more information or to apply, go to www.jonesopportunity.com.

http://www.twincities.com/mld/twincities/business/10869431.h tm?1c

Jonestown:

A couple definitions by Webster:

1. envy
Pronunciation: 'en-vE
Function: noun

Definition:

Painful or resentful awareness of an ADVANTAGE enjoyed by another joined with a desire to possess the same ADVANTAGE.

2. jealous
Pronunciation: 'je-l&s
Function: adjective

Definition:

Hostile toward a rival or one believed to enjoy an ADVANTAGE.

"Folks that have an entrepreneurial spirit tend to be the most successful," Murphy said. "We tend to look for folks who can operate like their own boss."

Up to a point. The investment advisers are all employees of Edward Jones, not franchisees. The company sets up the office, hires an assistant and gets the brokers up and running. "The person coming in does not borrow a dime," he said.

In other words you can pretend to be your own boss....and here's your list of funds bub....

Let me ask this question… Since I work at Jones and opt not to sell just preferred funds what can they do to me?  As long as I continue to excell, and run my business clean, I don’t see a thing that they could do to me. 

They can't do anything.  You are correct.  Pick whatever funds U like the best and use those.  A few might be preferred...and a few may not.  I wouldn't go out of my way not to use them as there are a few respectable families with good funds among the choices at Jones.

[quote=zacko]

They can’t do anything. You are correct. Pick whatever funds U like the best and use those. A few might be preferred…and a few may not. I wouldn’t go out of my way not to use them as there are a few respectable families with good funds among the choices at Jones.

I use Templeton Foreign fund and Cundill Global value for overseas.

I use Lord Abbett all Value as well Van Kampen Growth and Income

I use Federated Kaufmann and Putnam New Value.  I used Federated's market opportunity as well as their muni-advantage.(new fund but I like it)

I use Nuveen High Yield Muni (great fund for a bond fund)

For small cap I am using mainstay.  Oh, I also have used Franklin Income fund although not as much lately.  I also used Lord Abbett for Balanced

I hardly ever use only one family for a client.  I use a fair amount of C shares unless the dollar amount is large than we use A shares to achieve breakpoints.  Avoid B when possible.

There you have it--Zacko the Mutual fund expert.

For all your railing against the “preferred funds” you seem to use a lot of them…

http://www.stltoday.com/stltoday/business/columnists.nsf/dav idnicklaus/story/1E523A7A74D1039386256FAA0037D92E?OpenDocume nt&Headline=Missouri+bill+might+give+MOST+to+the+brokers

As the Legislature takes up Scott's bill, one important industry player is on the sidelines. Edward Jones, a brokerage firm based in Des Peres, was penalized $75 million recently for failing to adequately disclose revenue-sharing payments from its preferred mutual fund families. Among those families were American Funds and Putnam Funds, whose Virginia and Ohio college-savings plans were sold extensively by Jones brokers.

Edward Jones has dozens of offices in Missouri, but MOST isn't on the list of products its brokers make available. http://www.missourimost.org/ 

In the past, the company's lobbyists led the push to extend Missouri's tax breaks to out-of-state plans. In light of the regulatory settlement, spokeswoman Mary Beth Heying said, the firm isn't commenting on the issue now.

The company's case, along with the mutual fund industry's market-timing and late-trading scandals, should be reason enough to avoid changing Missouri's clean, successful college-savings plan. If the Legislature must tinker, let's hope Steelman succeeds in including meaningful protection for investors.

It appears Missouri has an inexpensive, well managed option for college savings 529, but Edward Jones won't offer it to its clients.  Investors should do more homework before buying.   

Jonestown, just how many no-loads do you offer your clients that are not wrapped by a fee or otherwise compensate you? Jones is in business to make a profit. Read the ad for MOST, bet you haven’t. MOST is a pure no-load play on 529’s, good for some not good for others. I don’t see a granmother sending a 110k check through the mail to MOST. But she will write a check at your desk or mine…

Some securities firms are happy to sell MOST, earning a modest commission. But others push out-of-state plans that pay them more lucratively. The National Association of Securities Dealers has expressed concern that many brokers are selling out-of-state college plans to investors who might be served better by their home-state plan.

How 'bout you go read the article so you can understand the issue.

why all the value funds zacko?

i take that back, i missed the van kampen G&I.  regardless, i think there are better foreign funds than that cundill global, at least many that are cheaper.  and i’ve never liked federated, again a very expensive fund (1.95%) that’s getting too big to do what it is intended to do.  Also, have you looked into Oppenheimer Rochester National Muni, yielding over 7%!  I also dislike the mainstay stuff, we’ve been using oppenheimer small cap value and munder s.c. value.  we used sentinel small cap in the past, but then the manager left and took his whole team with him, so we moved people quickly out of that.  does anyone else ever use Davis NY venture?  i have a few times, but alot of the older guys in my office love it.