What about BAC and WFI?

Dewey Cheatham & Howe.....you must work for Edward Jones

I noticed you forgot about the indy firms?   

Payout too high?

This thread will likely be pulled since you posted a competitors link info. 

So, read it while you can!

Damn, The jones payout sent chills down my spine–even though I’ve been gone for 2 years!

I guess Jones doesn’t do managed money.

It almost seems like a disclaimer at the bottom of the print article under the Jones payout, trying to make things sound better than they actually are.

remember in 2002, 2001 Edward Jones did not pay any bonus

…or offered a LP since 2000, but plenty of GP offerings.

Is this the one that inclues "profit" as a piece of Jones' compensation? What a joke! As of they gave every dollar of "profit" back to the IR.

They also failed to include the trips in the compensation.

The reason the trips are not included is because eventhough Edward Jones sells them to the broker as compensation they really are paid by the Vendors through revenue sharing. Therefore, if you receive a trip you pay tax on it and it is included in your w-2 wages but in is not compensation.

[quote=Player]

Dewey Cheatham & Howe.....you must work for Edward Jones

I noticed you forgot about the indy firms?   

Payout too high?

[/quote]

16 firms listed and Edward Jones is the only one you care about, Dewey never mentioned EDJ.  Maybe its you that cant get away from EDJ?

The reason the trips are not included is because eventhough Edward Jones sells them to the broker as compensation they really are paid by the Vendors through revenue sharing. Therefore, if you receive a trip you pay tax on it and it is included in your w-2 wages but in is not compensation.

The Vendors pay $500 of the average $5400 per trip. Less than 10%. It is charged as taxable income because it is beneficial for the company’s taxes. I’m sorry you didn’t do enough production to earn one while you were there advisor1.

[quote=Incredible Hulk]The Vendors pay $500 of the average $5400 per trip. Less than 10%. It is charged as taxable income because it is beneficial for the company's taxes. I'm sorry you didn't do enough production to earn one while you were there advisor1.[/quote]

Tell the truth, how long before Jones has to dump the contest trips, aren't they really an embarrassment and a compliance nightmare waiting to happen? Why would anyone want their employer to “reward“ them with a trip (not of their choosing as to timing and destination) instead of cold hard cash they can spend as they desire? Are there work related meetings or is it all personal time, just in a cult format? What would your customers say if they learned you “earned” a trip from (among other things) selling them this mutual fund over that one?

Why would anyone compare the firm in question to a cult (sarcasm!)

It’s a diversification trip. You have to hit $107k production in 6 mos. In addition, you have to hit specific dollar amounts in 4 categories that Jones calls Growth, G/I, taxable income, taxfree income, or insurance(LTC&Life). You can also get someone hired to hit one.The idea is that you “diversify” your clients (or at least your book) through the different categories. As to timing and destination, there are about a dozen trips with 3-7 different weeks you can go. Your choice, also if you dont want a trip, you can cash it in. There are group meetings for Jones and the vendor buys a couple hour session for chipping in their $500. I was just getting some advice on what to do while I’m in Oahu earlier this week from a client.

Almost every business has trips for their sales force.  Make no mistake your a salesman.  I don't see why any client would care if I won a trip for being a top producer and I have they are alot of fun.  I was never awarded for selling this or that, just for being in the top echelon.

“Diversification” trip? What a joke. I can see it now…let’s go through my book to sell X$ of annuities to meet the criteria. Let’s do it again to sell X$ of G&I (read ICA) to meet the criteria. Repeat until everyone is “diversified”. Go on trip. Gloat about it. Repeat in 6 months. Last trip I was on was production based NOT product based. I save my paper clip, postage, cleaning serv $$ and buy my own trips. I suppose you jones guys can clean your own offices and accomplish the same thing. Quit kidding yourselves!