I’m interested in hearing from Edward Jones reps that sell individual bonds. I read recently that bond pricing will become completely transparent and show the clients the full fees/markups. Concerns?

like
Posting as :
works at
You are currently posting as works at

Regarding munis in retirement accounts, for all you advisors who have been in business < 8 years, there was a time back in 2008-2010 when tax free actually yielded more than similar quality taxable bonds. So I’m not saying that’s your specific cases WM1 and FA2...but be careful knocking a strategy that on the surface may not make sense but actually worked really well at one time.

I’ve got a few nonprofit accounts where we took advantage of AA and AAA rated tax free 5% munis priced at a discount and they are just about to lose their 10 year call protection. I’d buy those today again in a heart beat if they were out there 👍

likesmart

No concern at all since we’ve already been showing this on bond confirmations for years.

We’ve led the way on this push for transparency. Since our bond desk does not make any markups of their own and is not a profit center (unlike many of our competitors), it wasn’t a big deal at all.

My big bond buying customers realize the markup is usually between 50-200 bps. Otherwise I’d be working for free.

like

I’ve seen munis in Roth(!) IRA’s at EJ. One client said she was told it was “double tax free”. SMH.

likefunny

Probably a taxable muni. Our compliance department would not let a tax free muni trade go through.

No? Why would we be concerned? Do what’s right for the client and always be transparent and you have nothing to worry about?

like

And, it’s already on their trade confirmations.

like

Lol ^. No ones will disagree that every company has some super uneducated advisors

likefunny

Lol what I have done is take accounts from W&R that were 50% asset strategy fund. Nice 3% net return over the last 3 years

likesmart

Individual advisers cannot compete w the institutional money now.

likesmart

Took over an EJ account last year for a tax free charitable org that had probably 90% munis.

like

I work for Jones, and I’ve literally never taken an account from another brokerage that held an individual bond.

like

My apologies for the typo. But it sounds like you found the rarity.

like

So many guys were so worried when DOL requires us to disclose annuity comp rates. I haven’t had one single client complain that I get paid for the work that I do. “So, on your million dollars the insurance is going to pay me 7% up front to service you for at least the next ten years. Or in one of my managed money accounts YOU can pay me 1% per year for the next 10+ Years."

Not worried at all. Clients know we get paid and our confirmations already show everything. We have a report showing what they’ve paid over the last 12 months I always show- I get a lot of “that’s it” responses. Transparency is a good thing, if someone is worried about it they’re doing something wrong

Thanks for sharing guys. It sounds like your system has changed to be more transparent. I don’t really purchase many individual bonds for clients. However, over the years I have had EJ customers say there was no charge or not even know what a mark up was. It’s changed a bit, but every single statement I would see would have muni’s in it. We’ve even seen muni’s inside IRA accounts.

EdJ1-I do remember that point in time when munis were paying better than corporates. However, the particular account we saw owned Tax Free Bond Funds, not individuals.

Buying on Secondary market rarely sees prices of Bonds with ytw that are lower than BDs with thier own “market.”

Right. We have the best pricing when we reprice a bond back into our own inventory.

Case in point...5% muni bond yesterday I purchased for client was priced at $104 internally. On secondary it was $105. That’s a big difference since only 2 years call protection.

Related Posts

Hello, Does anyone know of any Mental health jobs that can be done remotely? I’ve gotten COVID 2X in the past 6 months and I’m so scared of getting it again I have 9 years experience in the healthcare field and 5 years of Management experience! Thank you in advance!

like

More tether fud. Gotta love it.

like

Hi fishes,
I left hcl in august and have been trying to transfer pf from hcl trust to my epfo account. So this is what i tried:
1. On the epfo website , login and go to Online Services -> One member - one epf account
2. It asks for the MID of previous employer. As per hcl pay slip my pf account number is -GN/GGN/5572/474542
3. I am entering the MID as GNGGN00055720000474542 but getting an error.

Please tell me what am i doing wrong here? Or is there any other way to get the pf transferred?

Post Photo
like

Family law attorney for the last 3 years and looking to do almost anything else. Any tips on where to start? I spent the last ten years working towards becoming a family law attorney so I am very lost now that I want out.

like

Hi Fishes,

Which company shall I join ?
1. Sun Life Financial
2. EY India

YoE- 3.10 yrs
Tech - Cybersecurity
CTC & location - same for both companies

like

I wish they would do away with the CPA or at least make only people in audit require it.

funnylike

Did any one recently joined LTI chennai? Need to ask few regarding interview scheduling process ?

like

Do titles mean shit anymore?

like

Interview approaching for a director of growth strategy at f100. Responsible for leading team of 10. Have never done a growth strategy project. Can prob get thru interview cases by prepping same way I did for consulting but am I taking a huge risk of failure if I get the job?

like
Post Gif
like

Anyone familiar with Battery management systems engineering roles and what they pay on avg?

like

What are some safe, affordable, and convenient places to live for a late-20s female? I’m wfh for the foreseeable future and want to spend less on rent. Everywhere close to Boston is getting so expensive and parking can be a headache. Would like to live close to public transit to go to Boston occasionally (I’ve started to value peace and quiet more). Also any forecast on rent prices? Is 1500 a month for a relatively nice studio or 1b1b realistic if I move further away from Boston?

like

I’ll be 38 when I enter my graduate program and I’m curious how being the oldest may impact the way people view me. If you were the oldest, did you notice a difference?

like

What’s the best 30-90 plan when you start as a SE to differentiate yourself from your peers?

like

Got an Offer from PwC SDC of 20.38 CTC. I am sharing the screenshot. Need help in calculating the In-hand salary.
TIA

Post Photo
likefunny

Hi all, I’m exiting Federal consulting and going into commercial. I’m going to be running a few concurrent projects and am looking for a cool PM software. What are your favorites and why?

likehelpful

I was shortlisted to appear for Sr BI Engineer role at Amazon. The interview was scheduled for 23rd Sep but I have a medical situation at home. As I value this opportunity a lot and wanted to give my best, so requested to reschedule after 2 wks to which they responded as below.

Thank you for informing us, we will cancel the interview for now and put it on hold for now. Please kindly reach out to our recruiter, XXXXX once you are ready to take the interview.

Have I lost my chance ?

like

Why do I have a little resentment towards ppl who fled NYC? Even if I could have left - I wouldn’t have. I hate that I feel this way but 🤷🏼‍♀️

like

What happens if I get terminated from Infosys? I will never join IT anymore so will it be a problem if I get myself fired?

like

Additional Posts in Financial Advisors

Tax question: If two young people go to Vegas and get married on a whim, never lived together, and nine years later are engaged to be married with other people, what are the tax consequences having filed single for nine years and what is the solution?

like

Most random way you've gainned a client?

like

Looking at a new CRM, does anyone have experience with Redtail?

Please watch for an article in AdvisorHub this week regarding NDAs... not good! Control Your Future, Go Indie RIA!

like

Any advice for someone in the middle of a merger?

likehelpful

I watch CNBC all day and I see those Fisher Investment commercials talking about how they have much better strategies than everyone else. Anyone have a clue what their MO is?

like

I would like to prospect 401(k) plans and plan sponsors, to be a listed advisor on inefficient plans. (To make them better of course..) I am considering getting a subscription to Judy Diamond. What qualifying questions should I ask to the sponsor? Any advice for a newb in this space? (small $3-5mm plans)

like

Keep running into two advisors in my area that always slam their clients in to 10 year fixed indexed annuities. I have never written one. What are some of the pros and cons?

like

As silly as this may sound, how do I learn to let “work be work” and not let it be my source of identity?

Best shoe brands (office)? Business formal, conservative dress code

like

I have a job interview tomorrow, and I'm so prepared, I'm so ready to go! I want this job so badly!! EEEKKK. can everyone just send in some good vibes!

likehelpfulfunny

Younger FA here (24 years old). I’m really looking to take it to the next level. How does one really overcome the “age gap”, and what’re some target markets for younger advisors such as myself?

like

I’ve had to talk quite a few clients off a ledge to prevent panicked selling. To what degree are you all seeing this? I’m worried this is an industry trend and will lead to layoffs on our ends

likehelpful

What is your nightly routine? I am struggling to find consistency and looking for some tips

like

Edward Jones advisor with 30 million AUM and roughly 250k gross production. Been there for almost 4 years. Got an offer at Merrill Lynch to take over a 100 million dollar retirement transition plan in 5 years, or to join a 5 person Merrill Lynch team that manages a lot.

Pros to EJ: Have my own office, a year or two away from partnership, great office setting and client satisfaction.

Pros to Merrill: Bump in compensation, additional tools and services w banking, ability to take over assets.

likehelpful

Website design? Who do you use and pros/cons? Best for RIAs?

likehelpful

I’m working on a list of what’s important for me to have at my new firm and scoring my options on a scale of 1-5. Here’s what I’ve come up with so far (in no particular order): income and income potential, control over my schedule, marketing support, marketing freedom, product suite, technology stack, diversity, work/life balance, ease of doing business, and administrative support. What items am I missing? What’s important to you and how does your firm score?

like

Seeking Associate or Jr Advisor in Chicago burbs.

My partner and I are looking for an associate that has a small book (10-15 Million) that would be able to help take over a portion of our book.

like

Anyone work at Ameriprise what are your payouts? Does company take any compensation from you? What are the grids like?

like

What would a guy pay on 500k of 1099 income? Im setup as an s Corp and pay a wage of around $150k. I have a number from my tax person but it doesn’t seem right. There must be some people in in this similar situation.

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Send download link to your phone

OR

Scan your QR code to download
Fishbowl app on your mobile

By continuing you agree to Terms of Use and Privacy Policy.

Messaging rates may apply

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal