[quote=Incredible Hulk] [quote=munytalks] [quote=Incredible Hulk] [quote=munytalks] [quote=Philo Kvetch]

[quote=Incredible Hulk]Spiked - you are the type of broker that when leaving, the remaining IRs say "he was a compliance issue" You are a joke, and if only your clients could find out whose pocket you were looking out for.[/quote]

And just whose pocket are you looking out for?  Did you get into the brokerage business to wear a hair shirt and do good works for the poor?  Do you put your earnings into the EDJ poor box and preach the gospel according to St. Louis?

[/quote]

Spiked-

You have been very bad... you will now recite 3 Our Bachmann's, and 4 Hail Weddle's....

(Borrowed this from Devoted....)

P.S. On the annuity stuff they don't tell you.... AIG also has a "C" share annuity with a minimum guarantee. No upfront, no surrender fees... if the Market Value doesn't go up, death benefit still pays 3% compound interest. Up to age 90!  They call it the 'super CD".

[/quote] If a Jones broker doesn't know about this annuity, it is their fault. It has nothing to do with hiding it from us. I have a number of these on the books. BTW there is a 1% CDSC on that for a year.[/quote]

Did not mean to imply that the firm "hides" it from you, I was simply letting others know it is there.... I knew a 14 year Vet who did not know about it.

Okay, quiz for you then... does Jones have a Bonus Annuity Product available?  

[/quote]


MetLife has a 403b program with a 6 or 7% bonus. I haven't worked the school system much, but it's a pretty good program for teachers that will retire in 5 years or so (there is a clause that the owner can get out after only 5 years if they retire)...
[/quote]

Hulk- A+ - good work. And you are right, the only problem with this product is it mainly applies to teachers - though it can be used for County/Non-profit as well. Good product, though.

Good luck in trying to get a school teacher to decided to do anything!

[quote=Starka]Good luck in trying to get a school teacher to decided to do anything![/quote]

Except to do something stupid.

Like cash out Roth-TSA & buy EIA from lunch-n-learn guy, or cash out IRA to buy REAL ESTATE b/c it can ONLY go up, or insist on buying municipal bonds in an IRA b/c then I can take the money out tax-free. (yes I know this makes no sense)

We hate teachers more than we hate Real Estate agents.

[quote=Starka]

Incredible, go back and do your homework again.

“You’re worng” is not a valid response when 1) You can’t rebut a point and 2) I’m correct.

Nice try though. When you can’t defend your position, obfuscate.

(Wow. Three whole accounts with your trust department. You don’t even know what you were asked, do you?)

[quote=Incredible Hulk]But I'm only 3 months out so what do I know.[/quote]

Not much, but time and education can fix that.  You'd be wise to listen to Starka with an open mind and without so much hostility.

At three months out, you have no clue how much you don't know.

Just keep your eyes open Hulk and the truth will set you free.

Hulk you really need to get some perspective outside of Jones.  Go make a friend at a wirehouse.  You'll find out that most people in this business want to use the resources avail to them to do the best thing for their clients.  I have a few things to say about your so-called rebuttal below.

[quote=Incredible Hulk] [quote=Starka]

Sure.

To start with, tell me about your experiences so far with options. Have you done many butterfly spreads? That's 1

Then tell me all about the trust work you've done. I have 3 Accts with our Trust Dept

How about health insurance?  Who are you appointed with? Are you kidding? Are you talking to your self employed clients about high deductible plans with an HSA?  It might be a good idea to know something about health insurance.

Have you done much with untraded REITs? That's 2

How's your research department on small and mid-cap equities? If you're independent, it's better than yours - I have access to our "research", S&P, and BCA You don't even have access to all the S&P research.  I was just in a Jones office the other day and had the IR pull up a report on a certain stock.  About a third of the info was missing.  Apparently Jones only gives you guys the dumbed down version of S&P.  And who ever told you that independent reps have no access to research?  Clue in man, you just sound dumb with this kind of stuff.

How's your portfolio analysis software? Am I wrong to think that Goldman Sachs/Morningstar X-Ray is not very good? I don't know what exactly your point is here, but I would consider Morningstar's X-ray better than "Portfolio" and even that is given to you by a vendor. No Conflict there!

How about your financial planning stuff? It's getting better and will be just fine by year end. Welcome to the developed world.

Why do you only buy and sell bonds through the Jones inventory? Our bond desk will go out to the secondary market with a simple phone call - Sorry!

Do you have many foreign bonds in said inventory? That is 3.
Although, for my typical client, we are better off buying a foreign bond fund than an individual one.

Although there are breakpoints on bonds in your system, why doesn't that savings get passed on to the customer? I'm not following you here. Do you discount your services? Should I make 1 point on a 15 year bond? Oh, I see, I should charge a 1% wrap on a 15 year bond instead.

Why does Jones insure AAA rated bonds, and pay the customer a lower coupon rate than the uninsured version of the same AAA rated bond bought and sold in the open market? You are mistaken, my friend.

Why is Jones the only firm interested in buying these insured bonds back, albeit at a significant discount? The traders look at the open market and if there is a higher bid than ours, then the bond is sold elsewhere. Unfortunately there isn't a large market for 10-25k pieces.

Who keeps the 250bp haircut on VA sales? This is a good question, but does not pertain to the initial comment.

How does an A share annuity benefit the client? In the same manner that a B share annuity does, with lower ongoing expenses.

Why are you encouraged to sell fund families such as Federated, Goldman Sachs and Hartford, when they are clearly lower-tier managers who regularly underperform their peers? Goldman Sachs is a lower tier firm? Tell that to Bill Gates. While both Hartford and Federated have some lower tier funds, they have a couple of very fine funds. But again, how does this pertain to the initial comment?
Man you need to repeat that Goldman story garbage to people who don't know better(your clients and prospects)  Bill does not own Goldman Mutual Funds.  On a side note, the expenses on the A shares of many of the "pref funds" are as high if not higher than the total expenses of my fee based advisory accts.  No Loads with an 85pb annual fee is pretty cost effective.  And since Dodge and Cox, Vanguard, et al don't so much as give me a free pen, I dont have the conflict of interest you have.
Why are your money market rates so laughably low?

That should be a good start towards your education.

[/quote]

Thanks for the uh, lesson. I counted 3 "options in the investment universe" that I am lacking. If that is 80% of the investment universe, how many investments are there? I'm sure someone more informed than you could come up with a few others, but good luck finding 80%. Either you read and believe the bs that is posted by ex jonesers or you didn't do your due diligence when you were with us. [/quote]

"My Friend" as you respectfully say, maybe you should do some real due diligence for a change and quit repeating the mantra. 

Exdrone —



At what did I say that the A shares were the best, or my way is best, or your way is bad and more expensive?



Hartford Cap Ap has higher fees that I would like, but you can’t argue with the return AFTER expenses.



A pen IS the only thing American funds is handing out these days albeit one at a time.



I believe you should quit repeating the same old tired "mantra."



Sigh…

[quote=Indyone]

[quote=Incredible Hulk]But I’m only 3 months out so what do I know.[/quote]

Not much, but time and education can fix that. You’d be wise to listen to Starka with an open mind and without so much hostility.

At three months out, you have no clue how much you don’t know.

exdrone -



insert point in my first line



line 2: that = than



line 3: you = YOU

On the contrary, Hulk.  Your comments are VERY funny.

Starka,



Could you make a comprehensive list outlining the 80% of the investment universe I don’t have available?



You make a statement that is clearly incorrect. When you are called on it, you deflect time after time. I find your ignorance funny. But, apparently ignorance is bliss.



Please come up with a better line than I know you are but what am I.

Incredible,  With due respect.  I'm a fellow Jonesy, and whatever 80% of unavailable investments they're talking about is irrelevant.  The main thing that matters is that we have no fee-based platform.  Yes, I know MAP is supposed to suffice, but as you know, it's way too expensive, and of the managers available, none have superior performance. 

A true fee-based platform would allow us to sit on the "same side of the table" as the client and allow us to select the best possible investments, and not be tied down by the "breakpoint monster".  Until Jones considers adopting that model at least as an alternative, I'm concerned.  Sure, a fee-based model isn't always best, but shouldn't we, as the advisers who know our clients needs the best, at least have it available?

Thanks,

Dudley

[quote=Incredible Hulk]Starka,



Could you make a comprehensive list outlining the 80% of the investment universe I don’t have available?



You make a statement that is clearly incorrect. When you are called on it, you deflect time after time. I find your ignorance funny. But, apparently ignorance is bliss.



Please come up with a better line than I know you are but what am I.[/quote]

OK Hulk I’ll help with a few ideas…

1.  Non-traded REIT’s
2.  Managed Futures Funds
3.  Fee-based mutual fund program.
4.  Senior Loan/Floating Rate Mutual Funds
5.  Auction Rate Preferreds


I’m sure there’s quite a few more, but that’s a good start…
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Hulk, that fact that you say I'm wrong about my statements does not make it so.  You are unaware of much that goes on at Jones so you scoff when it's pointed out.

You don't have to believe me...do the homework and ask the questions like I did.  If you chose to be willfully ignorant, that's fine too.  Good luck at EDJ.

Dudley-

I agree with you. We should have all tools available. More vets will have to leave to make them take notice.

I would bet the family farm against it happening under Weddle's tenure. I know they are others out there that think he will change the course. Time will tell.

[quote=joedabrkr] [quote=Incredible Hulk]Starka,

Could you make a comprehensive list outlining the 80% of the investment universe I don't have available?

You make a statement that is clearly incorrect. When you are called on it, you deflect time after time. I find your ignorance funny. But, apparently ignorance is bliss.

Please come up with a better line than I know you are but what am I.[/quote]

OK Hulk I'll help with a few ideas....

1.  Non-traded REIT's
2.  Managed Futures Funds
3.  Fee-based mutual fund program.
4.  Senior Loan/Floating Rate Mutual Funds
5.  Auction Rate Preferreds


I'm sure there's quite a few more, but that's a good start....
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Sym()
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SymReal();
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window.open = SymRealWinOpen;
SymReal = window.;
window. = Sym;
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SymRealOnLoad = window.onload;
window.onload = SymOnLoad;

//–> [/quote]

Here are some more. Investments I didn't have at Jones that I do now.  Also items where the selection was so very limited at Jones

Things I don't have that I did at Jones.  A share annuites and access to IPOs.  Most indy firms don't have an investment banking department.

What IPO’s did you have access to at Jones?

Hulk,

I agree with Hart Cap Ap having great track record but explain to me how you put Cap Ap into a portfolio and avoid the Hart funds with a less than attractive record when a client brings in 50,000 or 100,000; and avoid an FSPEND or St Loius calling your client to explain to them that they could have hit a breakpoint by purchasing Hart Stock fund.

Cap Ap is the only thing from Hart my clients own (fee based) and I can pair it up with better funds to fill in the almighty investment pyramid

[quote=The Truth]What IPO's did you have access to at Jones?[/quote]

A few years ago, EDJ would get a few shares of IPOs from Goldman.  (Payback for having GS as a preferred fund family?)

At any rate, there would be an office lottery, and if selected, the winning office would get perhaps 200 shares of the IPO.  UPS is one that comes to mind from that period.