so let me get this right...

BAC stinks

RAYJAY stinks

and you don't like LPL's bond desk.

Time to look in the mirror my friend, no more excuses.

As someone who is considering RJ, what is the prob w/their annuity business? 

#2 -RE- Fixed annuities, do they limit their advisors to only the "approved annuity vendors". 

[quote=badmove?]

so let me get this right...

BAC stinks

RAYJAY stinks

and you don't like LPL's bond desk.

Time to look in the mirror my friend, no more excuses.

[/quote]

I haven't following your exchanges with this other party. I think the board is reduced when people focus on other posters rather than stay focused on the concepts and ideas presented for discussion.

No, RJFS isn't an independent firm, maybe it never was but it's painfully obvious in recent times over many of the points presented. It's a topic worth disucssing if people are considering moving and about 15% of the registered population will move or move on each year. Many more consider their options wisely most of the time. This isn't exactly a business culture where for most people you have to take care of yourself and management often doesn't merit trust. On the trust factor RJ related is even worse than the already low industry average. 

RJFS is even more dependent than ever on people moving from extreme control situations like wirehouses to their toned down but still contrary to the advertised "independent" culture. More and more "your clients" mean "their clients" regardless of the segment you find yourself. Perhaps it's the nature of corporations, as they grow you have a ever growing management elite that in it's heart wants to tell everyone in the organization how to fold their toilet paper. The Orwellian part of it in recent years is how almost all the major scandals that largely reflect on senior managers have been twisted into excuses to abuse the rank and file of both RJFS and the producer as a whole through the industry. It kinda misses the basic truth of the circumstance but that's how it goes in business and mindless government regulation. Yeah, I'd skip RJ related and LPL. On another level all together you should review the BAC recruiting stories and what their word is worth.

If there is plenty of bad out there it should be exposed and discussed from the producers view. It doesn't make a person negative to look at the facts as they really are. People here tend to be motivated and optimistic or they wouldn't pursue this work, there in lies the emotion that others try and do exploit. Our sector from a point of view of freedom and trust has been under a very great attack in recent years. The quality of management and sales production now reflects the decline. This messenger doesn't care about attacts to deflect the topic. If you want to talk about RJ or producer abuses I would be glad to reinforce my position but spare us; "you're negative and I'm positive" white wash.

[quote=gad12]

As someone who is considering RJ, what is the prob w/their annuity business? 

#2 -RE- Fixed annuities, do they limit their advisors to only the "approved annuity vendors". 

[/quote]

It's way more complicated an further reaching then that. It's "proprietary" design system with every contortion possible to obfuscate the facts by forcing vendors into certain criteria. The motivations of this are hidden in "consumer interests" but it's really about money and control at the fields expense.

You can search my handle if you want to see the gory details and undercurrents of the action. It's a total violation of the stated mission statement I and many were recruited under. It's complicated and poorly reported on in the various trade magazines, I suspect given the level of ad funding RJ represents to the trade space. Just ask yourself this question;

RJ know more about annuity design than say Hartford or AIG?

It's another massive overstep. They change the firms mission statement and still talk out of both sides of their mouth about most things.

RJFS, it's wirehouse. Know that going in.

btw badmove?

BAC is crap

RJ is respectable

I was asking for feedback with regards to LPL bond desk

Get it right piker!

I think the board is reduced when people focus on other posters rather than stay focused on the concepts and ideas presented for discussion.

Nice point, big picture.

The Orwellian part of it in recent years is how almost all the major scandals that largely reflect on senior managers have been twisted into excuses to abuse the rank and file of both RJFS and the producer as a whole through the industry. It kinda misses the basic truth of the circumstance but that's how it goes in business and mindless government regulation.

Wisdom. At what level are the industry ethics controlled?

People here tend to be motivated and optimistic or they wouldn't pursue this work, there in lies the emotion that others try and do exploit.

Any one can start a broker dealer and recruit on emotion. We have to think for ourselves.

[quote=Farmboy][quote=badmove?]

so let me get this right...

BAC stinks

RAYJAY stinks

and you don't like LPL's bond desk.

Time to look in the mirror my friend, no more excuses.

[/quote]

I haven't following your exchanges with this other party. I think the board is reduced when people focus on other posters rather than stay focused on the concepts and ideas presented for discussion.

No, RJFS isn't an independent firm, maybe it never was but it's painfully obvious in recent times over many of the points presented. It's a topic worth disucssing if people are considering moving and about 15% of the registered population will move or move on each year. Many more consider their options wisely most of the time. This isn't exactly a business culture where for most people you have to take care of yourself and management often doesn't merit trust. On the trust factor RJ related is even worse than the already low industry average. 

RJFS is even more dependent than ever on people moving from extreme control situations like wirehouses to their toned down but still contrary to the advertised "independent" culture. More and more "your clients" mean "their clients" regardless of the segment you find yourself. Perhaps it's the nature of corporations, as they grow you have a ever growing management elite that in it's heart wants to tell everyone in the organization how to fold their toilet paper. The Orwellian part of it in recent years is how almost all the major scandals that largely reflect on senior managers have been twisted into excuses to abuse the rank and file of both RJFS and the producer as a whole through the industry. It kinda misses the basic truth of the circumstance but that's how it goes in business and mindless government regulation. Yeah, I'd skip RJ related and LPL. On another level all together you should review the BAC recruiting stories and what their word is worth.

If there is plenty of bad out there it should be exposed and discussed from the producers view. It doesn't make a person negative to look at the facts as they really are. People here tend to be motivated and optimistic or they wouldn't pursue this work, there in lies the emotion that others try and do exploit. Our sector from a point of view of freedom and trust has been under a very great attack in recent years. The quality of management and sales production now reflects the decline. This messenger doesn't care about attacts to deflect the topic. If you want to talk about RJ or producer abuses I would be glad to reinforce my position but spare us; "you're negative and I'm positive" white wash.

[/quote]

While you make a couple of valid points - look at what 5 bucks is almost always doing - whining about something that he cant have or looking for reasons that "the man" is screwing him.  He's always moaning like a victim.  You mention "positive attitude" but whenever he is challenged for being a cry baby he starts with the name calling and "I do more gross than you" bit.  It's tiresome.  I don't blame anyone for calling him out.  It's becoming a sport on this board.

Yeah, no whining five bucks.

If there is plenty of bad out there it should be exposed and discussed from the producers view. It doesn't make a person negative to look at the facts as they really are.

I think this larger issue is important. When are we going to become more of a respected profession? There's a bottom-up element (advisor, don't screw your clients), and a top-down element (advisor, don't let your broker dealer exploit you). "Vote with your feet, vote with your wallet."

We can at least raise consciousness here.

o.k all kidding aside. of the reps who joined rj, who here if they had to do it all over again would have joined lpl instead. no need to explain just cast your vote.

Most folks here know that I took a long hard look at RJ, and while I thought it was a fine firm and a good 2nd choice, I ultimately chose LPL, and almost everything I've seen since then has simply reinforced in my mind that I made the right choice.  The recent changes to VA's is a travesty in my mind and although VA's are a relatively small part of my business (about 10%), I would have been very pissed had I been at RJ when that came down.  Why they didn't just knock a few of the higher cost vendors off the approved list is beyond me.  What they did just reeks of a haircut scheme.  The VA wholesalers I deal with tell me that there is very little change in cost to the client.  My understanding is that the only real change was in advisor compensation.

I also felt like compliance was a bit over the top when I visited, and I didn't like the RJ sales manager at all.  I got the feeling that he was viewing me as a low potential indy since I was coming from a bank.  He asked me why I felt like I would be successful as an independent, even though I had ramped up from nothing to 350K in six years.  I already knew that RJ's bar was higher and that they'd asked some indies producing less than 200K to leave.  Several times I felt more like an employee than a prospective independent producer that they should view as a CLIENT.

Bottom line is, I won't tell you that LPL is perfect...the perfect B/D probably doesn't exist, but if you ask any LPL indy you meet, my guess is that you'll find almost all of them well satisfied with LPL.  I certainly don't feel like an employee when I contact them.  Certainly, there could be some upcoming negative changes that will affect my view, but on balance, I'm well pleased and don't regret my decision to affiliate in the slightest.

[quote=planrcoach]

Wisdom. At what level are the industry ethics controlled?

[/quote]

If you think about it ethics aren't controlled. My comment points out a key flaw that the people on the top of the system are worse ethically than those they see over. The NASD is club more than a serious regulatory system. They vote for dealer interests and dress it always that it's a point of sales issue they are looking after.

The key reform needed are individual licenses away from dealer supervision. Similar to the RIA structure but for commissions.

just vote, no comments are necessary.

[quote=$$$$$]just vote, no comments are necessary.[/quote]

Ok.  Go to Ray Jay…please.  You won’t like the LPL bond desk.

Go to Ray Jay.

I’d recommend the same, but I don’t think he has sufficient production…for the life of me, I can’t understand why RJ is making a pitch…

joe, I thought we were friends.

[quote=Indyone]I’d recommend the same, but I don’t think he has sufficient production…for the life of me, I can’t understand why RJ is making a pitch…[/quote]

Maybe he should look at Primerica or World Financial Group?

i’m going to lpl.

btw, my prod. is north of 330k gross.

[quote=$$$$$]btw, my prod. is north of 330k gross.[/quote]

BUT, what is your trailing 6 x 2 ?