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Feb 15, 2006 7:08 pm

Take my advice and just leave. In light of the considerable legal problems Edward Jones is under the tyranny that they practice  on their workforce will only get worse. In the words of Patrick Henry, "Give me Liberty or give me death"As for me I chose liberty. Don't let Edward Jones, kill your spirit.

Feb 15, 2006 10:20 pm

I think the new Merrill rule is out to hurt Jones more than any other firm.  Almost every other firm has an RIA that advisors can give advice under.  Jones however is pure b/d and advice was always incidental to the sale of some product.  Now however, the rules have changed and there can be no advice given by someone with only a securities license.

Feb 15, 2006 10:38 pm

What exactly does it mean to be a CFP at Jones now?

Feb 16, 2006 5:54 am

[quote]Anyone still at Jones have any comment on the recent compliance notice that says IR's can't say in publice that they do financial planning or any kind of planning for that matter?  Have they stripped you of even your quasi professional status and made you a true product pusher now? [/quote]

Isn't that technically the case with everyone who is not an RIA?  I know we all dance around it, but it was my understanding that if you are not an RIA, you cannot hold yourself out as a planner, even if you have your CFP.  I realize this doesn't make sense and we all know it isn't true, nonetheless that's the law as I understand it, correct me if I'm wrong.

Feb 16, 2006 5:56 am

[quote]I am still reeling from the recent compliance memo on joneslink that attempts to tell us NOT to use analogys. Or only ones that they approve of. They don't like the grocery strore analogy when describing revenue sharing. Where will this end?[/quote]

I'm not familiar with the memo you are referring to.  Did this only apply to a particular analogy about revenue sharing or is there some sort of broad prohibition against unapproved analogies?  If so, I'll be ex-EDJ after my next audit.

Feb 16, 2006 6:00 am

I will say that EDJ is currently hypersensitive to any compliance issue right now.  I think part of it is industry wide, but after the big settlement and Hill being crucified, everyone over here is afraid of their own shadow.  I think having a diligent compliance department is a good thing for everyone, but I have been wasting more time lately jumping through unnecessary hoops and explaining myself on transactions that should not be getting flagged for special review.

Feb 16, 2006 2:46 pm

Hill wasn’t “crucified”, Jesus was. Hill was the lead crook. More lead crooks should suffer the same fate.

Feb 16, 2006 7:05 pm

[quote=EDJ4now]

[quote]Anyone still at Jones have any comment on the recent compliance notice that says IR's can't say in publice that they do financial planning or any kind of planning for that matter?  Have they stripped you of even your quasi professional status and made you a true product pusher now? [/quote]

Isn't that technically the case with everyone who is not an RIA?  I know we all dance around it, but it was my understanding that if you are not an RIA, you cannot hold yourself out as a planner, even if you have your CFP.  I realize this doesn't make sense and we all know it isn't true, nonetheless that's the law as I understand it, correct me if I'm wrong.

[/quote]

4NOW,

There is a diff with Jones.  Most firms have an RIA that reps with a 65 or 66 license can operate under(as an IAR) and provide financial planning through. Jones doesn't and therein lies the problem. When I was studdying for my 66 this idea of a broker dealer providing finacial planning with its inherent conflicts of interest stood out like a sore thumb.  I thought the recent ruling by the SEC saying that they can no longer do it is a potentially huge blow for Jones unless they modify their business model.

Feb 16, 2006 9:31 pm

I’ve never heard anyone say Hill was crucified.  Very eloquently stated, turd.

Feb 16, 2006 10:45 pm
http://www.lodinews.com/articles/2006/02/15/news/8_logbook_0 60215.txt

Scroll to the last police blotter item

Logbook First published: Wednesday, February 15, 2006
Last updated: Wednesday, Feb 15, 2006 - 07:10:04 am PST

Lodi Police Department

In the 79 hours since 8 a.m. Saturday, the Galt Police Department handled 540 calls. The following is a sample of calls received by dispatchers.

Saturday

12:33 p.m.: People were leaving fliers on front doors at Cabrillo Circle and Bella Vista Drive. The fliers were in colors that the caller doesn't believe are the city's colors.

1:15 p.m.: Someone burglarized a mailbox in the 1800 block of South Church Street.

1:15 p.m.: Twenty-one cars with booming stereos were at South Central Avenue and Poplar Street.

Sunday

9:09 a.m.: A 1991 Acura was stolen in the 1700 block of South Hutchins Street.

9:38 a.m.: One vehicle was stolen and another one burglarized in the 800 block of South Beckman Road.

11:44 a.m.: Someone in an older car dumped a sofa at Lodi Sickroom Supply, 340 S. Fairmont Ave.

4:34 p.m.: Some people tried to sell items to Orchard Supply Hardware, 360 S. Cherokee Lane, that were stolen from an Orchard Supply Hardware in Stockton.

8:44 p.m.: Gunshots were fired at a house in the 400 block of East Elm Street.

11:14 p.m.: Someone stole a 1996 Nissan Sentra in the 1200 block of South Sunset Drive.

Monday

2:40 p.m.: A man in a suit, claiming that he worked for Edward Jones, was asking very personal questions as he wen door to door at Grant and Eureka avenues.

Feb 18, 2006 6:20 am

Yes, it is true, Doug “3 Mil” Hill is back door knocking…