How many brokers does EDJ have?
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Come on men, footsoldier, consults dude, brokerrecruitNOT: I’m waiting on your comments. I might wait up all night. I’m on a roll now and I have until Tuesday because I am using my email at home. I don’t have one at work so on Tuesday I will reply at night. For now, I am staying up and waiting for your stupid responses.
[quote=Incredble Hulk]Come on men, footsoldier, consults dude, brokerrecruitNOT: I’m waiting on your comments. I might wait up all night. I’m on a roll now and I have until Tuesday because I am using my email at home. I don’t have one at work so on Tuesday I will reply at night. For now, I am staying up and waiting for your stupid responses.[/quote]
Still don’t have email at work?
So when they do install it, will it be dial-up via AOL?
[quote=Incredble Hulk]That’s B.S. Look at Growth fund of America. It has beaten the SP500 on the ytd, 3 yr and 5yr. How can you get better that that? It is also TEAM MANAGED!![/quote]
Growth Fund of AMERICA is so bloated with new assets from retards like you that they now have 23% of the fund invested in FOREIGN stocks…which is in no small part why their numbers are so good over the last quarter and 12 months. This would be why they are outpacing their peers who have stuck to their mandate.
Then again, I wouldn’t expect a feeble-minded door to door salesman like yourself to understand…
[quote=joedabrkr] [quote=Incredble Hulk]That's B.S. Look at Growth fund of America. It has beaten the SP500 on the ytd, 3 yr and 5yr. How can you get better that that? It is also TEAM MANAGED!![/quote]
Growth Fund of AMERICA is so bloated with new assets from retards like you that they now have 23% of the fund invested in FOREIGN stocks....which is in no small part why their numbers are so good over the last quarter and 12 months. This would be why they are outpacing their peers who have stuck to their mandate.
Then again, I wouldn't expect a feeble-minded door to door salesman like yourself to understand......
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joedabrkr, you really are a horses' behind. How old are you, anyway?
[quote=Incredble Hulk]And by the way, WRAP counts are a rip off. "A" shares are the best class of funds for clients if they are investing for the long run and that's what we do at EJones. We look after our clients.[/quote]
If Wrap accounts are so bad, why are your precious American Funds in all of them? As well as Fidelity, Pimco, Davis, etc.... Wrap is easy, it's pay as you go and you can swap out or rebalance anytime for no cost.
If you charge your 5% up front to buy an "A" share and the client has an unexpected event a year later and needs some of that money, he just paid that load for nothing.
Get your facts straight rookie. You won't be in business in a year.
Brokers at Jones are a tad bit smarter than the morons in the home office.
Hulk works in the home office. He stinks of the culture they try to promote.
Hulk- when is Jones going to merge with American Funds?
I do not work at the home office.
inconsult100 wrote, " Wrap is easy, it's pay as you go..."
Yes indeed, easy for the broker and expensive for the client. Come on, you are making it too easy.
IH-
The most reasonable pro knows that clients have options. At Jones we have a box of goodies. All I am suggesting is they enlarge the box. Essentially what I am saying is I want the client to be guided by me, but the decision, as to how I am paid is theirs.
Ask any wholesaler and they will tell you without a doubt A shares are the most profitable for the firms. Going to wrap reduces the funds/firms revenues, yet they do it because the clients want the portability without additional costs. And remember the fees are typically deductible (above 2% of AGI I think).
Without American I probably would be out of business today. They saved me during those horrible years. I can not and will not abandon them. But I know that going forward I have to provide value and just offering AF isn't enough.
I'll make a prediction. In five years or less EDJ will have a wrap program. And if they don't watch for a blanket breakpoint schedule using the preferreds. The latter sustains the GP revenue.
Foot, I disagree with you on what is most profitable for the firm. A shares short term but.. I have over 100 million in funds alone. Imagine the bump to the bottom line of not only my branch but to the firm if I had a 1% wrap on those. Granted, not all would be in a wrap program but the revenue would increase tremendously. A breakpoint among the preferreds would not nor can not happen under current regulations.
I do agree with you on the wrap coming to Jones. Only I feel it wil be much sooner than later.
I am off these boards for a while. It is nice to take breaks now and then and I am taking one. Hulk, give it a try.
[quote=Incredble Hulk]And by the way, WRAP counts are a rip off. "A" shares are the best class of funds for clients if they are investing for the long run and that's what we do at EJones. We look after our clients.[/quote]
If they are such a rip off then why in hells name do 99% of high net worth people have their money in fee based accounts with ML,SB,MS,GS etc...not EDJ. I guess if all I had in my tool chest was a hammer everthing would look like a nail. Face it idiot the only reason you stand up for your 5 or 6 "A share " products is because thats all you have! The first step to recovery is admitting you have a problem. You are just not there yet. BTW does Weddle have any polyps since you have a very good veiw of his internals.
[quote=Incredble Hulk]
I do not work at the home office.
inconsult100 wrote, " Wrap is easy, it's pay as you go..."
Yes indeed, easy for the broker and expensive for the client. Come on, you are making it too easy.
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5% upfront or 1% a year. I've ran the numbers dude and with average performance it takes 3.5 years to break even. Why don't you follow up your ignorant comments with facts and not the canned company schpiel.
Why don't you make me? 3.5 years to break even and then the client makes a better performance. Thanks for explaining that to me.
GO EDWARD JONES!
[quote=jonesescapee]
[quote=Incredble Hulk]And by the way, WRAP counts are a rip off. "A" shares are the best class of funds for clients if they are investing for the long run and that's what we do at EJones. We look after our clients.[/quote]
If they are such a rip off then why in hells name do 99% of high net worth people have their money in fee based accounts with ML,SB,MS,GS etc...not EDJ. I guess if all I had in my tool chest was a hammer everthing would look like a nail. Face it idiot the only reason you stand up for your 5 or 6 "A share " products is because thats all you have! The first step to recovery is admitting you have a problem. You are just not there yet. BTW does Weddle have any polyps since you have a very good veiw of his internals.
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99% of high net worth don't have fee based accounts and certainly they are not all at ML,SB,MS and GS. When you overally generalize your argument loses validity. Your point should be that a good percentage of hi net worth do fee based accounts such as SMA's and Wraps. Jones has SMA's so I would say that there is certainly a lot more than A shares at Jones. I have found that ultimately most decisions are made because of relationships not products. It sounds like you disagree with that....
Look at average account size at Jones vs. other firms mentioned. That might
help answer this debate. Products do have a big impact.
[quote=Incredble Hulk]That’s B.S. Look at Growth fund of America. It has beaten the SP500 on the ytd, 3 yr and 5yr. How can you get better that that? It is also TEAM MANAGED!![/quote] Fercryinoutloud! Pimco BOND fund has beat GFA for past 5 yrs. We won’t even go into the risk.
Hulk-
I will try agin. Take a breath and just for a moment, think of a world outside your box of goodies that EDJ makes available for your clients. Versus, a different viewpoint, the box of goodies that others (both indy and wirehouse) have that appears to meet the rest of society.
Get off the bandwagon that the Jones way is the best. If that were true, everyone would buy A shares with breakpoints. They don't. So don't denigrate or try weak attack measures when you are obviously undermanned intellectually and my fine green friend, factually.
I am working with the same firm as you. They have given me alot in the beginning and taken much more than I will ever receive in return.
There is life I am told after EDJ. Since others before have left and never regretted their decision I am optimistic I will experience the same.
I could not disagree more. But I'll bite. Why would it be the biggest mistake that I will ever make?
Your concoction must be a very special brew. Make sure someone else drives.