The answer to question #3 is “No.”  Change your better clients over to the “in depth” statement prior to transfer.

[quote=CIBforeveryone]Very close to the jump from EJ to RJFS…

3 questions out of a thousand I have that I thought might be simple to answer here:

1. With ticket charges can I still afford to offer my clients CDs for their emergency cash?

2. Is there a breakeven point on small mutual fund trades considering ticket charges that I haven't had to consider at EJ? How do you handles SIMPLE IRAs, etc. with lots of small trades?

3. Will cost basis info transfer from EJ?

Thanks

CIB[/quote]

1.  Use the money market...most pay close to 4%.  $5,000 CDs are no longer in your vocabulary...not worth your effort.  I don't do short CDs for any less than $50,000.

2.  Small trades, SIMPLEs, etc., belong in direct accounts...no ticket charges (at LPL...assume none at RJFS either).

Enjoy the jump...you might want to read Robert Fragasso's book on making the transition...title escapes me, but I believe he only wrote one book.

Jump now!

1. Regarding CDs, you have two options, you can offer cd's from brokerage side :w/ticket charge" or use RJbank "no ticket charge" for smaller dollars.  I would use this as a service vs. generating commissions.

2. Small trades use the PIP no ticket charges, great system!  Don't let this hold you back! 

3. EDJ and cost basis, it does not transfer!  Hum...... Why....? EDJ does not share cost basis for several reasons, one is it really accurate in the first place? they also know it makes it more difficut for EDJ reps to leave if they know they have to re enter.  All statements must be "Indepth" prior to jump!!!!  RJFS has help, they enter cost for you with current statement or do it yourself, system is very easy to use.

Have no fear!  Make the move when your fully prepared!  

I too am preparing to jump.  Be VERY careful, do not put everyone on in depth statements as that is a big red flag.  Instead make sure all clients mfd's are costed and use the print screen (not p-all).  Mfd's are the big deal due to possible small periodic investments and reinvested div's and cg's.  That is my top priority on cost basis, after that then worry about stocks which is much easier and clients probably would still have their confirms.  The goal is to get it all before you go.

Your correct Mother Jones watches every key stroke!  Make the changes to Indepth over several weeks or months.  They are watching you!

Hmm, we are worried over commissions on CDs and “small mutual fund” investments? Yes, jump now. I just printed out LA, P-All. When will my phone ring from a nervous GP ?

[quote=Guest1]Hmm, we are worried over commissions on CDs and "small mutual fund" investments? Yes, jump now. I just printed out LA, P-All. When will my phone ring from a nervous GP ?[/quote]

Only if you like to talk to yourself.

Guest1, better well known as the village idiot has his head up the GP's 277 so far that he can't see daylight..............

The very ethical Edward Jones will do everything to not provide Cost Basis, to your clients, it seems service is just lip service for x-Jones clients.............FACTS.........   Don't forget the indepth statement!

And when they bring in the new IR in to take your place,Edward Jones will allow them to churn and burn, whatever it takes to keep the client from leaving and believing you were a crook, why else would you leave Edward Jones?

Leave as fast as you can, but listen to some great advice you have received from this forum, we've been there and done that.......  

Don't worry about the little things, because the Bottom Line is MUCH BIGGER............

Cost basis does transfer. Once the account has moved my assistant formerly my BOA at Jones had everyone sign a form which requires prior firm to release cost basis info. to new firm. My replacement tried to make a fuss however, it is required.

skolbrother couldyou pm me with the letter you used I just left edj, thanks

Skolbrother,

Not sure where you work, but cost basis does NOT transfer.  I have transferred many to ML and can tell you it doesn't.

You have to dig through a client's confirms and statements to figure it out. 

Let me be clear. The cost basis does not transfer with the assets however if client signs a release  losing firm is required to forward cost basis info which we in turn input. We have not failed on one yet over 200 households from EJ.