Jones Secrets Revealed, Part 6

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Feb 20, 2007 9:56 am

Spiff,

    That's quite a shot from a Jone's guy who's always saying 'why can't you just leave Edward Jones alone.'  Not that the LPL guys din't have it coming, but let the war of words begin.

Feb 20, 2007 10:55 am

[quote=Spaceman Spiff]

[quote=joedabrkr] [quote=Philo Kvetch]I just came across this table and thought it interesting.

Legal Actions Against Retail Brokerage Firms Between 2001 and 2002

Complaints per Million Retail Accounts*
------------------------------------------------
1.5        Fidelity Brokerage Services
2.6        Credit Suisse First Boston
4.8        Edward D. Jones & Co.
6.1        Charles Schwab
6.5        ***American Express Financial Advisors***
7.2        TD Waterhouse Investor Services
7.3        E*Trade Securities
8.4        Salomon Smith Barney
8.9        Quick & Reilly
9.8        UBS PaineWebber
10.6        Raymond James & Associates
11.5        A.G. Edwards
11.9        Ameritrade
12.1        Merrill Lynch
14.9        Wachovia Securities
20.2        Morgan Stanley
27.5        Prudential Securities
63.3        U.S. Bancorp Piper Jaffray

*Source data: http://www.financial-planning.com/pubs/fpi/
20030701102.html


Deduce from it what you will........[/quote]

LPL is not on the list at all....wonder why?
[/quote]

Maybe they couldn't find enough clients to satisfy their polling minimums.

[/quote]

Or more likely it's that this list doesn't include any of the independent B/D's. 

Feb 20, 2007 4:38 pm

[quote=FreeFromJones]

Spiff,

    That's quite a shot from a Jone's guy who's always saying 'why can't you just leave Edward Jones alone.'  Not that the LPL guys din't have it coming, but let the war of words begin.

[/quote]

I don't see how we "had it coming", but whatever.

I am just going to presume that Spiff is trying to be funny.

Besides, we don't need as many clients as Jones brokers, because our books aren't built on $100/month automatic investment plans. ;-)
Feb 20, 2007 4:58 pm

I’ve been on my own for a few weeks now and have in transit 66 household accts.  I came in early this AM to look over the rest of my households I haven’t touched base with.  I rated them as potental client, dead money, small acct or little potential to benefit from my services. I realized what a crappy book I had.  Yes, we don’t need the $4100  IRA from a 61 year old school cook anymore.  She would be better served staying in the office and work with the new guy churning her from 1 mutual fund to another.  SHe will then notice how little she has made and move it to the local bank and buy a cd.  EDJ’s talks about the assets they keep, well in my case, it will be a majority I don’t care to have.  And to all you current Jonesers…I start off by telling my appts "Jones is a great firm, BUT…

Feb 20, 2007 8:21 pm

bspears,

How's that shaved head workin' out for ya'?

Feb 20, 2007 10:04 pm

[quote=doberman]

bspears,

How's that shaved head workin' out for ya'?

[/quote]

You do know how much indy broker's save on haircuts?
Feb 21, 2007 1:28 pm

[quote=FreeFromJones]

Spiff,

    That's quite a shot from a Jone's guy who's always saying 'why can't you just leave Edward Jones alone.'  Not that the LPL guys din't have it coming, but let the war of words begin.

[/quote]

I guess you left your sense of humor at home today.  Just trying to have a little fun.