EJ - Fined $75 mil...again
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I think the mutual fund moving is part of the Jones package. I was told, “make sure the funds have been held for AT LEAST 3 years, and then compliance won’t make a fuss”…
[quote=Dust Bunny][quote=Spaceman Spliff]
The P&L obfuscation was the main reason I left.
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+1
[quote=Spaceman Spliff]
3. Develop more tools for rich investors. - Like what?
1. STOP REVENUE SHARING. IT'S NOT ETHICAL AND BARELY LEGAL! - While I don't totally agree, I would agree that this is an industry issue that needs to be dealt with.
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Ask any firm that offers sophisticated investments to tell you what Jones lacks.
I can't believe you don't totally agree that revenue sharing creates a direct conflict of interest to put clients that might be inappropriate for them, just because the fund company pays the controlling persons of the company. Unbelievable.
And not only that, credit cards are thievery. You are charging high interest and encouraging people to buy things they can't afford. How is it possible that that is remotely good for people's financial health? Obviously you are a GP, because you only care about lining your pockets, rather than doing what is right for your clients. Get off this forum. You are an Edward Jones shill employee paid to post here.
[quote=farotech]
And not only that, credit cards are thievery. You are charging high interest and encouraging people to buy things they can't afford. How is it possible that that is remotely good for people's financial health? Obviously you are a GP, because you only care about lining your pockets, rather than doing what is right for your clients. Get off this forum. You are an Edward Jones shill employee paid to post here.
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The rate on the card is a fixed 9.9%, not variable. Is a credit card the best financial product for everyone? Obviously not........
[quote=bspears]I think the mutual fund moving is part of the Jones package. I was told, "make sure the funds have been held for AT LEAST 3 years, and then compliance won't make a fuss"...[/quote]
It is definitely not part of the Jones package. I wish that you had worked in a good region rather than the one you worked in. I believe had I worked in the region that you did I would be right beside you in your railing.....
[quote=farotech]
And not only that, credit cards are thievery. You are charging high interest and encouraging people to buy things they can’t afford. How is it possible that that is remotely good for people’s financial health?
My clients pay their bills every month and don’t carry debt. Who do you work with?
[quote=Maxstud]
[quote=farotech]
And not only that, credit cards are thievery. You are charging high interest and encouraging people to buy things they can’t afford. How is it possible that that is remotely good for people’s financial health?
My clients pay their bills every month and don’t carry debt. Who do you work with?
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Oh yea I forgot, your the guy with HNW clients who can’t afford to put $2,500 into a money market account.
[quote=farotech]
How is encouraging somebody to use a credit card good financial advice?
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It would be if they are consolidating into a lower interest rate card. The EDJ card was 9.9% fixed, as I recall. Most of my clients when at Jones, didn't carry balances on their cards so it was a moot point.
That’s the truth. Since that’s the case, why would clients with good financial health benefit from an Edward Jones credit card?
Also, people that carry credit card debt making minimum payments could transfer balances and then keep making minimum payments...to Edward Jones!
The credit card industry is nothing but loan sharking and I'm ashamed to say that a company "doing what's right for the client" is engaged in this terrible scam.
If you recommend a credit card to somebody, you are encouraging them to A) Incur Debt or B) Reduce Interest Payments and profit from their stupidity.
Use the card for points and pay off the balance every month. A very common use for credit cards for people who are responsible with their money. What kind of clients do you work with?
Took the family to Disney World first week in June and paid for all of our food, boat rentals, t-shirts ect with Disney bucks from my Chase Disney card.
Your kinda of stupid aren’t you faro?
Irresponsible clients who need my constant attention to make sure they don't screw up.
[quote=farotech]
Irresponsible clients who need my constant attention to make sure they don’t screw up.
[/quote]Wow that must really suck.
What the hell kind of name is Maxstud anyway? Are you a fag porn star? Why don't you go bufu Jim Weddle?