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

There were a very few. I can't remember which because it was some years ago.  More of the offerings were secondary.  In addition a lot of corporate bonds as new issues were available.  In my currenty indy world, I have only had access to a few secondary offerings. 

I forgot to mention that I can now do 1031 exchanges.  They are rare occurances but very lucrative.  I work with a couple of CPAs and Attorneys who have high net worth clients with commercial real estate holdings who need to defer their cap gains and have grown tired of dealing with the actual property. 

[quote=Starka]

[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.

[/quote]

The Jones IPO system is an office lottery.  If your office is chosen you are alloted 100 shares of the stock.  If you had more than one client with an indication then an additional lottery took place to decide which of your clients would receive the 100 shares!  Working the issue was a complete waste of time.  Making calls to get one client no more than 100 shares is a joke.  Also, the IR has no control over which client gets the shares.

Sounds like the best way to serve a client - "I have a great IPO, but unfortunately, you were second in the drawing to purchase 100 shares.  Thus, Mr. Smith will be the one reaping these benefits, not you.  Want to buy some more Am. Funds, though?  And by the way, did you see our JD Powers & Assoc. award?"

BR-

Drum roll please.

And now for only $60 I can purchase a hand made replica of the JD award. Thanks to the marketing department for coming up with the ultimate door stop, and of course due to the economies of scale, i.e., the suckers I mean IR's, will pay less than the average joe because there are so many of us who will be waiting in line for the opportunity.

Whew. I am out of breath with excitement.

[quote=footsoldier]

BR-

Drum roll please.

And now for only $60 I can purchase a hand made replica of the JD award. Thanks to the marketing department for coming up with the ultimate door stop, and of course due to the economies of scale, i.e., the suckers I mean IR's, will pay less than the average joe because there are so many of us who will be waiting in line for the opportunity.

Whew. I am out of breath with excitement.

[/quote]

If putting that award in your office wins a single convert it will have been money well spent.

There are thousands of Jones brokers who are making very attractive livings, caring for their families and enjoying their communities.

What a shame that you whiners on this forum cannot do the same.

If the award really meant something, we would have clients coming in droves because of it. I have never seen it as long as I have been with Jones.

I will say that everyone is looking for an advantage. It isn't just EDJ. Went into my bank to make my mortgage payment and there was a picture of the award on the window. So Jones may only have the exclusive in terms of CHARGING us along with 1% gross for those ads you see on cable. So NASD maybe there is a hint of whinerism in my post, but when you see it from our  side there is a stench.

And this forum provides a sounding board. It used to be for sales ideas. In fact with all your years in this industry, why don't you start a thread about sales ideas. Can you give us any?

Are you kidding, foot?

That useless scheisskopf Put Trader couldn't sell a thing without Daddy's help.  And he ended up a failed "middle manager" even with the leg up.

Pretty boring stuff.

A new thread for sales ideas.  Ok, that sounds good.  I'll get right on that one.

Here is my sales idea.  Be outstanding for your clients accounts.  Do all the money management yourself.  Perform well, not only on a relative basis but also on an absolute basis.  ABSOLUTE BASIS

Learn how to manage stocks.  Become a skilled technician.  Learn how to short.  Assume all the responsibility for their accounts and let your performance speak for yourself.  Especially in down markets. Teach your clients about all the BS that is Wall Street.  Protect them from the scums that run the firms and run the street.

Do this year after year and you will bring in referrals on a consistant basis.  You will be treated great by your wirehouse...if that is where you work.

You will be your own king.  There's my sales idea.

[quote=Greenhills]

Pretty boring stuff.

A new thread for sales ideas. Ok, that sounds good. I’ll get right on that one.

Here is my sales idea. Be outstanding for your clients accounts. Do all the money management yourself. Perform well, not only on a relative basis but also on an absolute basis. ABSOLUTE BASIS

Learn how to manage stocks. Become a skilled technician. Learn how to short. Assume all the responsibility for their accounts and let your performance speak for yourself. Especially in down markets. Teach your clients about all the BS that is Wall Street. Protect them from the scums that run the firms and run the street.

Do this year after year and you will bring in referrals on a consistant basis. You will be treated great by your wirehouse…if that is where you work.

You will be your own king. There’s my sales idea.

[quote=bankrep1] [quote=Greenhills]

Pretty boring stuff.

A new thread for sales ideas.  Ok, that sounds good.  I'll get right on that one.

Here is my sales idea.  Be outstanding for your clients accounts.  Do all the money management yourself.  Perform well, not only on a relative basis but also on an absolute basis.  ABSOLUTE BASIS

Learn how to manage stocks.  Become a skilled technician.  Learn how to short.  Assume all the responsibility for their accounts and let your performance speak for yourself.  Especially in down markets. Teach your clients about all the BS that is Wall Street.  Protect them from the scums that run the firms and run the street.

Do this year after year and you will bring in referrals on a consistant basis.  You will be treated great by your wirehouse...if that is where you work.

You will be your own king.  There's my sales idea.

[/quote]

Why don't you start your own fund and become a money manager? An advisor's job is to advise, not manage. I spend my day creating plans, prospecting and meeting with clients and there other advisor's, when do you have time to research stocks, read 10K's etc.? [/quote]

This whole AUM idea is still too new to know with any degree of certainty how investors will react when they lose 25% of their account.

There is an old adage in the street, "When they raid the whorehouse they take the good girls in too," which means that when there is a bear market everything loses value.

That will happen--it's as sure as day follows night.  And when it does investors are going to move their money elsewhere.  First to CDs and other money market securities where they will feel safe.

Eventually, a year or two later, they will begin to realize that money market returns are not going to allow them to retire so they'll begin to venture back into growth funds and other vehicles.

What is not known is if they will make the mistake of using an "advisor" or if they'll simply go directly to the funds.

I wouldn't use an advisor because I know what a joke 99% of the advisors are, but I am not typical.

Typical is my brother.  He's a no-load customer.

Typical is my friend Stephen.  He's a Schwab client.

Typical is my next door neighbor.  She runs a small advertising agency with nine employees.  She believes--actually believes--in moving her assets from firm to firm every year to eighteen months.  In her opinion she gets a lot of attention, good ideas and so forth, while she's a new customer, but then she becomes "just another client" so she moves elsewhere.  For all I know she has her own set of ACAT forms ready to be filled out at a moment's notice.

My point is this. Unless the customer's first brokerage account is with you, you took them away from somebody else.  That means your client knows that the relationship is not predestined to be a long-term one.

The other day I mentioned my old friend with the three accounts that represent a huge portion of his AUM.  One of them alone is $60 million.  What he said about them was, "There is no way I could get them or keep them if we hadn't 'grown up' together."

What that means is that the only clients you really have a solid relationship with are those who started small but are small no more.  If you were truly instrumental in that growth they'll reward you by staying with you--but if it was really their ideas, or they inherited much of their money, they're going to be as fickle as the wind.

If you expect to keep your book through the years you must be able to persude yourself that you are in fact bringing something to the table other than a report at the end of the year regarding their gains and losses--and, of course, looking great in your country club casual wardrobe.

If you educate your clients they'll feel more comfortable leaving you, and if you don't educate them they'll conclude you're not very bright yourself.

There's a Sophie's Choice for your Thursday pondering.

Do you have anything other than your ridiculous opinions and a few little anecdotal fables or is this just more of your whimsical mental vomit Putsy?