If “Financial service firms have been ripping off clients for a long time, I am changing the way things are done.” why don’t you really do it right.  Quit as an FA and become an Consumer Advocate.  Instead of showing your clients how you are better at cheating the system than all of the rest of us in financial services, you could spent your life exposing and correcting the great injustices.  Not profiting from them.  I would like to encourage you to quit EJ and go work somewhere else but I do not dislike any other firms enough to wish you on them or their clients.  Morons like you are what make the rest of us work harder to protect both our clients and this industry.  I am obviously not as smart as you but I do not think you can “when” a trip.  Are you sure it is your daughter that is mentally retarded?

I didnt say our service wasnt worth a price or that profit was wrong.  I  must say I am pretty awesome at using the system to my advantage. Cheating it is a big stretch. Believe me I have begged Jones to let me go they wont do it. Just waiting for contract expiration in a few months.  You have been reduced to harping on typographical error. Maybe I will “spent” my life exposing injustices.  You got nothing noob.  How bout you leave my daugher out of this my friend.

[quote=covered calls]Ive built a business and I am doing just fine.  I am not struggling to make it and have not been put in the position to have to make it as a new new for three years. I was very clear about that.  I certainly dont envy the position a new new is in by working out of the trunk of their car.  Your right  I am suited for a 9-5 desk job. A 9-5 commissioned desk job which is what I  have been doing for almost three years. 40-45  hours a week and enjoying my life.   I have made it without trading options.  I will say it is stupid to not have options and what makes you think I care how much everyone else uses them.   Its like not selling hammers at a hardware store. 

 almost all of them.  franklin templeton is 2.25% and 1.75% at 100k.  Maybe I think the investment is worth the cost at those rates.  I am not really  looking for ways  to cut compensation either.   I am looking for ways to not fleece my clients. This is my opinion.  Everyone has their hand out to get paid in the financial services industry.  The Fund Family, The Fund Managers, The Broker Dealer, The Advisor, The Tax man. There are alot of people in line to get paid before the client does. I am trying to limit that as much as possible.  I really dont use managed funds that much anyway so  its not really an issue.  

 almost all of them.  franklin templeton is 2.25% and 1.75% at 100k.  Maybe I think the investment is worth the cost at those rates.  I am not really  looking for ways  to cut compensation either.   I am looking for ways to not fleece my clients. This is my opinion.  Everyone has their hand out to get paid in the financial services industry.  The Fund Family, The Fund Managers, The Broker Dealer, The Advisor, The Tax man. There are alot of people in line to get paid before the client does. I am trying to limit that as much as possible.  I really dont use managed funds that much anyway so  its not really an issue.  

covered calls, what you are doing (if you are actually ducking loads by using bond funds for entry) will land you in arbitration or get your license pulled.  You should reconsider your “business” decision.

How is it $500 savings on a 100m ticket. Its $1750.00 dollars.  Secondly your not ducking loads when you go into these funds, they are a dollar cost averaging tool. I have already verified this.  Our firm already screams Walmart. If I hear the prices a client pays for an investment is a direct valuation of the advisors worth I will puke.   I love how people keep doing that.

How is it $500 savings on a 100m ticket.  Sorry, misread your previous post, you are correct.  Its $1750.00 dollars.  Secondly your not ducking loads when you go into these funds, they are a dollar cost averaging tool. That is completely different than what you posted before.  Who said A shares are bad. I put the clients in the intermediate term  A share fixed income funds for half the upfront fee or less and then move them into the funds we really want days later.   This is not a method of DCA.  What happens if the market moves more than the amount you saved the client on the load?  Do you send them a check?  This upfront load is mostly distributed to the broker, your method does not cut FT one bit, it takes away from you.  You are saying that you are not worth the charge.  Once you devalue yourself to a client, it is very hard to be viewed as anything other than a cheaper alternative. And cheaper may win with some, for most of the people we deal with, cheaper is not always better. I have already verified this.  Our firm already screams Walmart. If I hear the prices a client pays for an investment is a direct valuation of the advisors worth I will puke.  Only because you cannot show your own value to a client or this board.   I love how people keep doing that.

Get over it dude. I am going to be fine. You are sucking down the Kool aid and thats fine. I dont even mean that in a bad way.  Its whatever each individual needs to do to pay the bills. The Kool aid doesnt work for me from a business or personal level. I am not going to get into trouble using DCA regardless of length time.  What if I have written instructions from the client of what our strategy is? What if I give them the option either way such as you can pay 5.75 today all in or 2.25 and average in over several days months etc…  Which option do you think they take?  I ultimately dont use managed funds much anyway. I use ETFs which are even more cost effective. I can also offer the client put protection or generate income by selling options agains their ETFs.  The  managed mutual fund strategy simply generates conversation. Do online brokerages stop clients  from doing this strategy. Oh i thought the American Funds guy told me three times they dont sell American Funds on any online brokerage platforms.  BZZTTT wrong answer. Sort of off topic I know.   Just a question though what is the difference between this strategy   and DCA into a VA. The market could go into 30% uptrend before the client gets 25% of their money in the VA.   Am I going to arbitration because they missed it?

[quote=covered calls]Get over it dude. I am going to be fine. You are sucking down the Kool aid and thats fine. I don’t work for Jones, I reside at a wire.I dont even mean that in a bad way.  Its whatever each individual needs to do to pay the bills.  So this strategy should be ignored if you are struggling.  The load isn’t a ripoff then? The Kool aid doesnt work for me from a business or personal level. I am not going to get into trouble using DCA regardless of length time.  A DCA does not happen in a matter of days.  DCA’ing can be a very effective strategy, however bastardizing it so you can sell someone an unsuitable investment to quickly switch to a suitable investment to avoid commissions is not a DCA, no matter how much you want it to be.  What if I have written instructions from the client of what our strategy is? In arbitration, they will say that you never explained that the market could go up more than they saved, and this was your idea not theirs.  After all, you are the financial advisor.  What if I give them the option either way such as you can pay 5.75 today all in or 2.25 and average in over several days months Lose the months part, that is not whay you said you were doing.  Of course the client is going to take the lower commission, this would not save you in arbitration. etc…  Which option do you think they take?  I ultimately dont use managed funds much anyway. Then why bring it up? I use ETFs which is even more cost effective. From a commission standpoint, only on a long held position that goes down in value.I can also offer the client put protection or generate income by selling options agains their ETFs. Not at Jones you can’t. The  managed mutual fund strategy simply generates conversation. Do online brokerages stop clients  from doing this strategy.  There is a serious difference in liability between self directed accounts and brokerage accounts.  Unfair yes, but reality. Oh i thought the American Funds guy told me three times they dont sell American Funds on any online brokerage platforms. This affects you how?  “Mr. Client, you can pay them and get no advice, or you can pay me the same and get advice.  Which do you prefer?” BZZTTT wrong answer. Sort of off topic I know.   Just a question though what is the difference between this strategy   and DCA into a VA.What you are doing is not DCA.  You are exposing a client for some lame brained idea that you are overpayed.  You probably are. The market could go into 30% uptrend before the client gets 25% of their money in the VA.   Am I going to arbitration because they missed it?

You cant use options at EJ? ouch.   Why?

You cant use options at EJ? ouch.   Why?

That as a blanket statement is simply not true. Not only will using options increase a portfolio’s retuirn but can reduce the risk by as much a 50%.

Not only that covered call & cash secured puts are considered low risk and appropriate for IRA’s and other qualified accounts that can use no margin and require investment grade securities. I guess I know to take accounts from EJ.

I wish that you would shut the hell up Icecold.  Did I not say that I was leaving the firm when the contract ran out.  I understand that it could be construed that I have already used options for my clients on my ETF positions.  I said that I “can” use options (as in after I leave) .  I have been positioning my clients in ETFs because they make sense without  the use of options.  After they are my clients at a new firm they will have the ability to use options on their etfs.  From my posts do you think I care what my peers think.  They are the same idiots that believe jones statement about missing the 20 best days in the market in the last 20 years bullshit dispels market timing.  I will never see arbitration for my strategy. Thanks though.

Newbies are funny.  CC, do what you want, I could care less.  My objection was telling another newb to use your hair brained strategy to poach accounts within your own firm.  Your scheme will accomplish one of two things.  Censure or you will keep cutting your own compensation.  Either way, it is funny to me. 

An addition to the last comment.  I wouldnt let one person in my “region” manage my money.  Many of them call me on a daily basis for advice.  Some of them are not even aware of my disdain for the firm or other brokers in the region.  Some who call for advice are SEG 4 and SEG 5.  You can call me whatever you want but that is your firm, not mine.  Some are scared shitless of me and  they hope I dont run across their clients.  We even laugh about it together because they know its true.  All I have to do is get them in the door.  Gaddock you hit it on the head. If you can show a jones client how you can generate an income stream by writing covered calls etc…  youve got them if you can earn their trust.  If jones strategy is to buy and hold why wouldnt you write out of the money calls every single month for income.  You were going to hold the stock anyway through thick and thin. Because remember you cant time the market buy quality. LOL 

Primo & Ice  thanks for the info … If I can learn something new each day sooner or later it will add up to something.

“If jones strategy is to buy and hold why wouldnt you write out of the money calls every single month for income”

Gaddock nice to meet you ,  I am the newbie idiot.  At least that is what everyone seems to think.  I take care of my clients and protect their wealth. But I am a loser because I reduce my fees. I am sorry I have let you down