Trouble in Paradise.......Alan Skrainka fired from Jones
This just in, Skrainka is STILL registered with ej as per Finra broker check ??????
I am an FA at Edward Jones. I believe, as with everything, that there are two sides to this story.
Alan has always been a person that spoke his mind (in private setings), even if it wasn't in concert with the company line. Additionally, it is my opinion that the culture at EDJ has been changing to more of a "big corporate culture" environment. Whether or not that change is for the better is a matter of opinion, and subject to one's interpretation.
I have always enjoyed and appreciated Alan; and am sorry to see him go. That being said, my belief is this:
Alan butted heads with enough of the right people to cause them to want him out. His failure to properly document sources (whether intended deceit, or sloppiness) gave them the reason they were looking for.
what it really comes down to is that EJ is no better or worse than any other firm, regardless of what the leaders in "Jonestown" claim. I recall a few years ago the firm in question took out a full page ad in the WSJ proclaiming that they're was the best firm for clients as they were oh so compliance oriented.......
If you fire your head analyst for NOT attributing properly Finra, NYSE and of course SEC is going to be interested in what other things are allowed to "slide" by.
Looks like Skrainka resurfaced and registered an LPL branch under the DBA "Cornerstone Wealth Management".
Alan did some excellent work at Jones. While I got tired of the cheerleading aspect of Jones' "Research," there's no question Alan put out some excellent presentations and ideas. There were several presentations he did that I thought were innovative and superb.
How interesting that Alan, formerly a top EJ GP and apparatchik, is now also going "Independent" - as so many of us former Jones people have done. I wish him, and all of us, the best.
I wouldn't listen to a guy that liked financials in early Sept of 08 after watching Bear Stearns evaporate to $2 a share.
Love how fa’s get on here and defend their firm so staunchly… have you ever thought about would your firm defend you so emphatically too?
Check out Alan Skrainka’s statement on his FINRA Broker Check report: “I was shown a report that was more than a year old that contained information related to the monthly employment report. I was told that it was not properly attributed to Bloomberg News. I felt the information was factual in nature and that sourcing the Labor Department was sufficient. No products were mentioned. No penalties or fines were levied. No lawsuits filed and no outside organization complained about my work. This occurred five months after I was asked to retire early”. I’m a former Edward Jones guy who LOVED the firm and drank the Kool-Aid. Luckily, I got over it and was able to leave on my own terms. It looks to me like Edward Jones did what Edward Jones does, which is whatever they want. Clearly Skrainka was caught on the wrong side of the argument (most likely with Weddle). I no longer trust Edward Jones or Jim Weddle. Alan Skrainka is FAR better off now.