Another Thing I miss
158 RepliesJump to last post
What happened to the sanctimonius Guest1.
He challenges us to find the buried treasure in the 10K, and we prove to him , proudlp, and the green monster that the firm that feels ethics is so important is unethical (Not because of what they do but what they say). An example is we (the IR's) are the only profit center. That's true for EDJ brokerage and way off the mark with EDJ Holdings.
The firm is in trouble. Maybe not tomorrow, maybe not next month, but clearly growth is stagnate, profits are down to the point that the wholesale division makes more than the retail. The model will change or the inevitable will occur. The partners will sell out to the highest bidder leaving the troops in the trenches to find employement elsewhere. After all we are employees. The GP's could give a rats ass about us.
And all the babble from the loyals, is an attempt to make themselves feel better, by denigrating us who speak the truth about EDJ. Babs is right, when we leave or consider a change we have gone to the dark side.
Foot, sorry I missed the post where you showed the earnings from other sources. Check out how many umbrellas LPL or RJFS has under their entity.
[quote=Guest1]Foot, sorry I missed the post where you showed the earnings from other sources. Check out how many umbrellas LPL or RJFS has under their entity.[/quote]
Why would that matter?
No firm would want Jones. Possibly a bank like BAC, but they would
inevitably close about 6,000 branches. Jones will survive unless a few things
on the regultory front occur.
Guest-
What matters is how you respond to the lies, half truths, by our management. It does not matter what LPL or RJ does. I would guess they don't share anything with their reps and keep it for themselves. So what.
As Malcolm said in an earlier post, the Brokerage business is the engine that drives the back door revenue. And if I were a GP I would rev share with any vendor that would be willing. It's a pay to play environment.
Another question for Guest, Success, the real Hulk, proudlp and any others who think Jones is the real deal.
How can ED trust company, a fiduciary, participate in rev sharing? Aren't they held to a higher standard than us?
Holy cow!! can we get off this revenue sharing topic. Jones knows revenue sharing is slowly going away. why do you think there is talk of wrap accounts at Jones? As for the trust company, i have no idea. There is probably stuff that goes on in all firms that i would not want to know. Indy has its merits, but there is no single platform thats the best. they all have flaws. Its very amusing to listen to FS get upset at anyone who likes working at Jones. It is as if he is pissed that he failed at Jones and wants to make sure he lets everyone know.
But success…Bachmann always used to say, “we will never have WRAP accts, or charge management fees,” in facat his exact response to a wire years ago was…“to offer the best mutual funds we can is one thing, to be there for the client is another, charging a management fee…that’s just not right.”
devoted SA,
you are correct, but I believe weddle is different. Before FS goes crazy on that one, let me explain. If the LP goes through this year, it can be said that it was Weddles decision to move forward. There was no way doug hill was going to bring us the LP. He was too worried about another $3M fine. We finally have someone who can at least relate a little more to the IR. I dont know weddle, but I am sure there are many people who dont care for him. Thats fine, but I believe he will bringing up wrap accounts. I dont know what they will look like, but I know it is being heavily discussed.
Do I detect a change of heart?A rational overtone. This from the sacarstic one who in past posts blasts all those who have chosen a different path. Could it be that you are starting to see the real truth?
I hope this won't be construed as going crazy. Dialogue is good and maybe a few GP's are reading and/or participating on these forums. It would be a cold cold day before Weddle rocks the boat with wrap fees. But it is an interesting slant.
Foot.... Weddle introducing WRAP fees at Jones would be more than just rocking the boat....It would be the flippin (did I really just say flippin?) Posideon.
he he he
It would be interesting to hear the "new" presentation of WRAP fees at Jones....as opposed to the old A vs B share T chart.
[quote=Devoted SA]
Foot.... Weddle introducing WRAP fees at Jones would be more than just rocking the boat....It would be the flippin (did I really just say flippin?) Posideon.
he he he
It would be interesting to hear the "new" presentation of WRAP fees at Jones....as opposed to the old A vs B share T chart.
[/quote]
Could not agree more!
[quote=spikedkoolaid]
Muny speaks the truth...I have another funny one. When I was in St. Louis for a meeting (segment 3), I ended up staying out at the casinos all night and didn't get back to the hotel until 5 a.m. I called the training center and told them I was sick and I wouldn't be at the training until the afternoon. Well, good ole Jack Cahill called my room and I wasn't there. He then called the front desk and the guy that drives the shuttle van told Jack that he had dropped me off at the Hooters down the street for lunch.
Cahill asked me about this and I didn't deny anything. I told him I like the chicken wings at Hooters and that I was just starting to feel well enough to eat. I told him that I was planning on attending the afternoon training sessions. Cahill typed all of this stuff on my ListApp and my Regional Leader had to call me and say that Hooters was not an acceptable place to have lunch. The RL said that I should've used better judgement. Looking back, I think Big Brother is always watching.
Focking Priceless Spike, and I am pro Jones
[/quote]
If lying is priceless, than Spiked has it for his Hooters comments and why he “left” Jones. Honesty here Spike? Talk to your attorney lately?
[quote=Guest1]If lying is priceless, than Spiked has it for his Hooters comments and why he "left" Jones. Honesty here Spike? Talk to your attorney lately?[/quote]
If you're looking for honesty, why in the world would you talk to an attorney?
Thats fine, but I believe he will bringing up wrap accounts. I dont know what they will look like, but I know it is being heavily discussed.
[/quote]
Maybe it is the same group that is discusssing E-Mail for the reps? If that is the case maybe in 5 to 10 years you can open up fee base accounts.
Good Luck
Strange, but interesting point.
What would a WRAP account look like at EDJ?
My guess, C shares of the same preferred Mutual Fund families, so as not to disrupt the Revenue Share to the GP's - with the added kick of the annual fee. 60% to the GP's/ 40% to the IR. Yeah, if I was a GP, that might deserve some pretty heavy discussion.
I predict a blanket breakpoint using preferrds. Annuity choices without m&e. I think Hancock funds is doing something like this now.
Wrap, although I think EDJ should consider, would mean they would use institutional or in the case of American F class. That would mean lower fees to GP's. I don't see that on the horizon.