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Dec 6, 2007 6:57 pm
Maxstud:

[quote=Philo Kvetch]I must ask once again why Edward Jones needs a fee based platform.

[/quote]

To make more money.  Why does everyone else like the fee based platform?

  Where I work, the answer to your question is because it's in the clients' best interests.   Apparently it's different where you are.
Dec 6, 2007 8:18 pm

[quote=MISS JONES]Gosh- It’s moments like this that I just know I LOVE working at Jones!  

  Miss J[/quote]   Is this a joke account? I have never met a bigger puppet in life.
Dec 6, 2007 8:40 pm
Philo Kvetch:

[quote=Maxstud] [quote=Philo Kvetch]I must ask once again why Edward Jones needs a fee based platform.

[/quote]

To make more money.  Why does everyone else like the fee based platform?

  Where I work, the answer to your question is because it's in the clients' best interests.   Apparently it's different where you are.[/quote]   Thats funny.  From some of the recent articles I've read about Merrill and Morgan elminating their fee based accounts and converting them to advisory or transaction accounts, they are concerned about the lose of revenue. If your clients best interest is the only motivating factor then using a transaction based model would often be less expensive for the client and then you could offer the exact same service to them that the fee based platform gives them.   Then only person coming out on the short end would be you.  Would that be in your client's best interest?  My other question is do you believe the fee based platform was  created to stablized revenue and increase profit for the advisor and firms?  
Dec 6, 2007 8:42 pm

[quote=MISS JONES]Gosh- It’s moments like this that I just know I LOVE working at Jones!  

  Miss J[/quote]   What about other moments?
Dec 6, 2007 8:55 pm
Philo Kvetch:

I must ask once again why Edward Jones needs a fee based platform. 

  Sorry Philo I made a mistake, I decided to give Jim Weddle a call about your question and he said, "Edward Jones is adding a fee based platform because it in the best interest of our clients."  You are right and I'm wrong.
Dec 6, 2007 9:00 pm

[quote=Philo Kvetch][quote=MISS JONES]Gosh- It’s moments like this that I just know I LOVE working at Jones!  

  Miss J[/quote]   What about other moments?[/quote]   Those are questionable..
Dec 6, 2007 9:16 pm

Do tell

Dec 6, 2007 9:54 pm

[quote=Maxstud]

You are right and I’m wrong.[/quote]



That’s a given.
Dec 6, 2007 10:01 pm

[quote=Philo Kvetch] [quote=Maxstud]

  You are right and I'm wrong.[/quote]

That's a given.[/quote]   Agreed.  It would be nice to hear  your answers to my other two questions.  I love to learn from the best.
Dec 6, 2007 10:09 pm

Gotcha…Jim told me…“the natives are getting restless, momma wants a new boat and what the hell…if we can milk the unsophisticated investor…why not”…Sorry Max…you thought it was Jim, but it was a fella in IT playin with ya. 

Dec 6, 2007 10:29 pm

To the IRFA fee based= fee in lieu of commission. 

  From my reading, I dont think most of them get the difference in services provided in an advisory acct where there is substantial planning, reporting, and communication for the client.  Does Jones have ad hoc performance reporting avail yet?  What about fund research?  I hear they finally have NaviPlan, but are they able to charge a fee to build a real plan or does each plan come with a complimentary touchdown bond?  Getting paid fees is great, but if you dont have the tools to earn those fees, or you try to compete on price by offering lower fees, the whole thing will fall flat on its face. 
Dec 6, 2007 11:08 pm
Maxstud:

[quote=Philo Kvetch][quote=Maxstud] [quote=Philo Kvetch]I must ask once again why Edward Jones needs a fee based platform.

[/quote]

To make more money.  Why does everyone else like the fee based platform?

  Where I work, the answer to your question is because it's in the clients' best interests.   Apparently it's different where you are.[/quote]   Thats funny.  From some of the recent articles I've read about Merrill and Morgan elminating their fee based accounts and converting them to advisory or transaction accounts, they are concerned about the lose of revenue. If your clients best interest is the only motivating factor then using a transaction based model would often be less expensive for the client and then you could offer the exact same service to them that the fee based platform gives them.   Then only person coming out on the short end would be you.  Would that be in your client's best interest?  My other question is do you believe the fee based platform was  created to stablized revenue and increase profit for the advisor and firms?  [/quote]   Certainly clients see it that way, and they are happy about that. "If you know what you are making each month/year, you aren't as worried about trying to sell stuff are you?"...I have been amazed at how many of them have said that without me prodding them abit.  
Dec 7, 2007 12:02 am

What a surprise … another EDJ post dissolves into worthlessness.  

Dec 7, 2007 1:47 am

[quote=anabuhabkuss] [quote=MISS JONES]Gosh- It’s moments like this that I just know I LOVE working at Jones!



Miss J[/quote]



Is this a joke account? I have never met a bigger puppet in life.[/quote]



Actually, I think in this case YOU are the puppet. MJ just has fun with all of this. Lighten up.
Dec 7, 2007 1:52 am
bspears:

Gotcha…Jim told me…“the natives are getting restless, momma wants a new boat and what the hell…if we can milk the unsophisticated investor…why not”…Sorry Max…you thought it was Jim, but it was a fella in IT playin with ya.



   

See Spears, that's what I'm talking about. Where do you come up with this stuff? They must have loved you at the Regional Koolaide parties. You were the guy at the back of the room asking Fes Shaughnessy questions like "Hey Fes, Homosaywhat?"    

"What?"
Dec 7, 2007 10:59 pm

Actually Broker 24 I was in the front row drinking as much green shit as possible.  What a loser I was for it to…hurt a lot of clients listening to a dumbass mentor tell me how to churn and burn.  I actually got a 84 year old to buy a 42 year bond, damn I was good.  On the radar early on to move up in the region…but then one day something snapped.  Not sure what it was, but something inside of me said “Stop and quit listening to these crooks”.   Since that day, I’ve road EDJs ass as hard as possible.  THey deserve, in my eyes, to be put out of business. 

Dec 8, 2007 1:10 am
bspears:

Actually Broker 24 I was in the front row drinking as much green shit as possible. What a loser I was for it to…hurt a lot of clients listening to a dumbass mentor tell me how to churn and burn. I actually got a 84 year old to buy a 42 year bond, damn I was good. On the radar early on to move up in the region…but then one day something snapped. Not sure what it was, but something inside of me said “Stop and quit listening to these crooks”. Since that day, I’ve road EDJs ass as hard as possible. THey deserve, in my eyes, to be put out of business.



It's funny, either I work in a strange region (for Jones), or I am just not as numb as some other newer advisors. I just don't see any of that brain washing going on in our region. I pretty much do what I want. Part of it may be that there are many transfer brokers in my region (my mentor was a xfer), so we get a lot of different viewpoints. And maybe it's also because the "veterans" in our region have only been with Jones about 15 years. Most are in the 7-10 year range (being in the Northeast, we were one of the last regions of the nation to really start developing). So you don't have all those 20+ year guys bleeding green like out in the midwest, the Carolinas, etc. A lot of the guys in my region are older, 2nd career guys - they are in their mid-50's, but only 6 or 7 years with Jones. They don't care about all the BS, and a lot of them don't even bother coming to regional meetings sometimes. Their happy with their 150K a year and cruising towards retirement in a cushy 10-4 job. I truly believe a lot of the culture people talk about on this board is specific to certain regions.
Dec 11, 2007 4:49 am
Broker24:

[quote=bspears] Actually Broker 24 I was in the front row drinking as much green shit as possible.  What a loser I was for it to…hurt a lot of clients listening to a dumbass mentor tell me how to churn and burn.  I actually got a 84 year old to buy a 42 year bond, damn I was good.  On the radar early on to move up in the region…but then one day something snapped.  Not sure what it was, but something inside of me said “Stop and quit listening to these crooks”.   Since that day, I’ve road EDJs ass as hard as possible.  THey deserve, in my eyes, to be put out of business.  [/quote]

It’s funny, either I work in a strange region (for Jones), or I am just not as numb as some other newer advisors. I just don’t see any of that brain washing going on in our region. I pretty much do what I want. Part of it may be that there are many transfer brokers in my region (my mentor was a xfer), so we get a lot of different viewpoints. And maybe it’s also because the “veterans” in our region have only been with Jones about 15 years. Most are in the 7-10 year range (being in the Northeast, we were one of the last regions of the nation to really start developing). So you don’t have all those 20+ year guys bleeding green like out in the midwest, the Carolinas, etc. A lot of the guys in my region are older, 2nd career guys - they are in their mid-50’s, but only 6 or 7 years with Jones. They don’t care about all the BS, and a lot of them don’t even bother coming to regional meetings sometimes. Their happy with their 150K a year and cruising towards retirement in a cushy 10-4 job. I truly believe a lot of the culture people talk about on this board is specific to certain regions.

My region is younger also and runs in a similiar manner, Broker24.
Dec 17, 2007 10:29 pm

 Just dug the tread back up–I’ve given you a week–hows that fee based program comming?

Dec 18, 2007 8:05 pm
bspears:

Actually Broker 24 I was in the front row drinking as much green shit as possible.  What a loser I was for it to…hurt a lot of clients listening to a dumbass mentor tell me how to churn and burn.  I actually got a 84 year old to buy a 42 year bond, damn I was good.  On the radar early on to move up in the region…but then one day something snapped.  Not sure what it was, but something inside of me said “Stop and quit listening to these crooks”.   Since that day, I’ve road EDJs ass as hard as possible.  THey deserve, in my eyes, to be put out of business. 

  I wish I was joking by suggesting you see a therapist.