Kool-Aid

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Nov 18, 2005 9:30 am

That's right, 27 years ago today, the Jonestown cult drank the kool-aid.

Nov 18, 2005 3:47 pm

Wasn't EDJ foundedn prior to this?

Nov 18, 2005 4:02 pm

According to the cult, they have been in business for...what is it you kool-aid drinkers...100 years or something like that.  Oh that's right, they bought another company or merged with it or something like that that had been in business for that period of time so now they claim it as their own history. 


Like everything over there it's just a bunch of bull.  Misrepresentations.  Half truths.  Clever little not-quite-lies.     

Nov 18, 2005 6:57 pm

Yes, Edward Jones trains IR's to tell that story because they want their clients and prospects to think they survived the "GREAT DEPRESSION",


But in fact Edward Jones is really the "GREAT DECEIVERS" ..............  So much for ETHICS...................


I would challenge any of you Drones or Clones to defend this tactic as ETHICAL selling?


I remember those ETHICS classes at Edward Jones I always felt telling clients and prospects that story just wasn't being totally honest, that type of practice along with getting short changed on payouts lead me to leave, YES, it was about the MONEY, but it was also about the ETHICS.............. 


Nov 19, 2005 1:04 pm

I remember being told the 1871 thing was what was traditionally done in the financial services industry.  It would have made sense if they had kept the name of the firm they aquired, but to change the name and keep the start date is B.S.


Serving individual Investors Since 1871.  Did the bond house of Whitaker and Company even serve individual investors back in 1871. 

Nov 19, 2005 3:11 pm
exdrone:

I remember being told the 1871 thing was what was traditionally done in the financial services industry.  It would have made sense if they had kept the name of the firm they aquired, but to change the name and keep the start date is B.S.


Serving individual Investors Since 1871.  Did the bond house of Whitaker and Company even serve individual investors back in 1871. 



WELL SAID.................

Nov 20, 2005 7:10 am

What has been the experience of Jones brokers leaving and being cleared
to join the new firm? Does Jones hold them up, for example, taking
inventory of the leased office to make sure all the Jones equipment,
furniture, etc. is there and in good shape before giving an OK to the
new firm? Please advise. Thanks.

Nov 20, 2005 11:40 am

There is no OK to join a new firm. You just go quietly into the night.  Usually on a 4 day weekend  


Jones doesn't allow bulk ACAT transfers or help you in anyway.  I imagine that they do take an inventory of the office after you have left.  The answer to that is take nothing (zip, nada) that you didn't purchase yourself and leave everything in good order and condition.  When I left I took everything that didn't come in the Jones in a box set up, everything even down to the last paperclip and roll of toilet paper. (Sorry to my BOA)

Nov 20, 2005 8:50 pm

I left 4 months ago. Segment 5. My assumption is they monitor and inventory everything very closely. I also took everything including the toilet paper as it was my thinking it would take time for the tr to go get those things. My understanding is that they(EDJ) have to clear your license to be transferred to your new firm in less there is some sort of pending compliance issue. Mine was transferred in about an 2 hours to my new firm.


Nov 20, 2005 8:52 pm

Let me clarify . I took everything that was mine. Must leave everything you did not personally pay for or that are their documents or records.

Nov 21, 2005 10:15 am
babbling looney:

There is no OK to join a new firm. You just go quietly into the night.  Usually on a 4 day weekend  


Jones doesn't allow bulk ACAT transfers or help you in anyway.  I imagine that they do take an inventory of the office after you have left.  The answer to that is take nothing (zip, nada) that you didn't purchase yourself and leave everything in good order and condition.  When I left I took everything that didn't come in the Jones in a box set up, everything even down to the last paperclip and roll of toilet paper. (Sorry to my BOA)




Same here.  But don't forget, you have already paid for 1/2 of the postage stamps, too.


If you do go, big brother monitors printer output.  So, either print off what you need slowly, or do it all the day that you are leaving.

Nov 21, 2005 11:53 am

Use print screen

Nov 21, 2005 12:02 pm
bengal:

What has been the experience of Jones brokers leaving and being cleared to join the new firm? Does Jones hold them up, for example, taking inventory of the leased office to make sure all the Jones equipment, furniture, etc. is there and in good shape before giving an OK to the new firm? Please advise. Thanks.


It has been a while now, but Jones used to send out an all wire whenever there was an open office in our state along with the assets in the branch.  They stopped doing this about a year before I left.  I assume it was for obvious reasons that they stopped.....to save paper.


Anyone know if they are back to posting open offices?

Nov 22, 2005 7:38 pm

They still don't post them...too demoralizing to the troops.



Nov 23, 2005 2:22 am

BigPayDay & Guest1


THIS IS FOR YOU:


TOP 10 REASONS MY CLIENTS ARE GLAD I LEFT EDWARD JONES:


10. My clients also like the FACT my FIRM wasn't hit for 75 million in fines and facing close to 1 Billion in CA settlement.........


  9. FEE BASED BUSINESS (NO I WON'T EDUCATE YOU ON WHY IT'S BETTER THAN A SHARES) MY CLIENTS LOVE IT


  8. WHEN MY CLIENTS COME IN IT IS FOR SERVICE, NOT SELLING THEM THE "FLAVOR" OF THE MONTH LIKE YOU STILL DO...........DO THEY STILL HAVE THOSE SATURDAY PROMOTIONS, LIKE SELLING A "STOCK" or  'BOND" or A PARTICULAR "MUTUAL FUND"  OH, YEA BFD, THAT'S REALLY TAKEN CARE OF YOUR CLIENT ISN'T IT? Do you think they don't know it?


   7. BY THE WAY MY CLIENTS DO READ THE "WSJ" SO THEY ARE VERY PLEASED I LEFT..........They relate to the articles.


    6.  The don't have a nebie that Edward Jones put in my old Office, that's still wet behind the ears


   5.  They really love our customer statements, it really smokes Edward Jones statements


   4.  They love our financial plan, that is reinforced every quarter when we have our review


    3. They love that we don't bug them with unecessary crap that is mailed in their Quarterly statement.


     2. They LOVE NOT PAYING HIGH COMMISSIONS........


     1. THEY LOVE THE FACT THERE IS MORE THAN ON IR IN OUR OFFICE, AND ALL OF OUR STAFF IS LICENSED SO THEY DON'T HAVE TO CALL SOME DIM WIT IN ST. LOUIS TO GET AN ANSWER...... 


 HAPPY THANKSGIVING


Nov 23, 2005 10:20 am

BW,


A couple of definitions for you:<?:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />


 


envy
Pronunciation: 'en-vE
Function: noun


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


 


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


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


Webster

Nov 23, 2005 10:37 am

Again, Webster (Emmanuel Lewis?) - if everyone was so jealous, wouldn't the logical solution be to join the "best sales force"?

Nov 23, 2005 10:38 am

BR,


Why is it that 90% of every post on this board is someone obsessed with EJ?


TA

Nov 23, 2005 10:46 am

Who woke up the Jones guys?  Please go back to sleep and dream your clueless dreams.


Nov 23, 2005 10:50 am

BL,



Shouldn't you be home cooking your tofu turkey? At least someone that can actually hold a conversation for longer than two sentences without talking about EJ GPs.



BPD