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Registered Rep.
June 5, 2006
John Churchill |
Edward Jones' to Pay for Revenue Sharing, Still Faces Civil Complaints The financial firm will soon be writing a lot of checks to a lot of clients: $75 million in checks, to be exact. The payday is actually a payback per the terms of Jones' 2004 settlement with regulators for inadequate disclosure of revenue-sharing practices in its mutual funds sales.   |
Registered Rep.
June 1, 2004
Will Leitch |
Accused A recent mutual fund scandal at Edward Jones causes a temporary hiccup in the firm's reputation. |
Registered Rep.
April 6, 2004
Will Leitch |
SEC Investigates Edward Jones' Fund Sales Edward Jones--a firm that hasn't attracted much regulatory scrutiny over the years--has been under considerable fire of late, thanks mainly to previously undisclosed revenue-sharing arrangements. |
Registered Rep.
May 21, 2004
Will Leitch |
Roye Blasts Revenue Sharing at ICI Conference; Strong Settles The SEC's director of its investment management division delivered perhaps his strongest remarks yet on mutual fund malfeasance. |
Registered Rep.
March 24, 2005
Kristen French |
Mutual Fund Enforcement Picks Up Steam On March 23, the SEC and NASD handed out fines in mutual fund-related punishments totaling more than $80 million to five firms. And that is likely just the beginning of a coming avalanche of similar regulatory actions, legal experts say. |
Registered Rep.
February 1, 2005
Will Leitch |
Smiling Through the Pain If Edward Jones reps are dismayed by the firm's record-setting SEC fine and the subsequent dismissal of their managing partner, Doug Hill, they're doing a good job of covering up. |
Registered Rep.
January 1, 2006
John Churchill |
I Fought the Law After stepping into the ring last spring with California Attorney General Bill Lockyer over fund disclosure practices, American Funds recently knocked the AG on the canvas; Edward Jones, another Lockyer target, hasn't been so lucky. |
Registered Rep.
August 23, 2005
John Churchill |
Proprietary Matters for AEFA and UBS Selling proprietary product via a firm's own sales force was once considered a great strategy for maximizing revenue. In another sign that that strategy is dead: UBS and Ameriprise are now embroiled in separate class-actions suits. |
Registered Rep.
September 9, 2005
Stan Luxenberg |
Imagine 50 Eliot Spitzers When are mutual fund companies charging too much in advisory fees? What constitutes proper disclosure of revenue sharing? And which governmental authority has jurisdiction over these issues? |
Registered Rep.
April 1, 2005
Luxenberg & French |
A Pile of Reasons Regulators and broker/dealer management have gone overboard with mutual fund disclosure. Take the case of the B-share class of mutual funds. |
The Motley Fool
March 17, 2006
Selena Maranjian |
Beware of Revenue Sharing Have you ever heard of a practice called "revenue sharing" by mutual fund companies and brokers? It isn't as magnanimous as it sounds. You could lose $213,000. |
Registered Rep.
January 1, 2005
Will Leitch |
529 Plans in the Crosshairs To virtually no one's surprise, regulators have begun scrutinizing how 529 plans are peddled. |
On Wall Street
October 1, 2013
Mason Braswell |
Non-Solicitation Disagreement What can you say without crossing the line and violating a non-solicitation agreement? |
Registered Rep.
October 23, 2003
John Churchill |
Edward Jones hit with $2.7 million fine One of the firm's brokers overloaded a client's account with unsuitable investments on margin. |
Registered Rep.
October 1, 2004
Will Leitch |
RIAs Kickin' Back Three registered investment advisors were accused by the SEC of accepting cash payments from TD Waterhouse in return for putting client assets with Waterhouse. |
Registered Rep.
July 1, 2005
Christopher O' Leary |
The Fund Family That Said No While in the past few years many funds sued by regulators have been quick to settle, American, the second-largest fund family in the U.S. with $650 billion in assets is fighting back. |
Registered Rep.
February 17, 2005
John Churchill |
NASD Charges American Funds with Directed Brokerage Violation Saying it's just as impermissible to make directed brokerage payments as it is to receive them, the NASD charged American Funds---one of the country's most reputable asset managers---with paying kickbacks to brokerages for selling its funds. |
Registered Rep.
December 1, 2005
Kevin Burke |
Edward Jones: Whistle While You Work According to survey results, financial advisors working at this financial firm seem to be living a charmed life. Here's why. |
Registered Rep.
February 21, 2012
Kristen French |
Due Diligence: Edward Jones Has an Edge at Training in an Industry That Stinks at it Only about one out of every five rookies in the Wall Street brokerage business makes it through year two or three of a four-year training program, according to industry consultant CBM Group. |
Registered Rep.
January 1, 2007
John Churchill |
Will Jones Wrap it Up? Buy-and-hold Edward Jones is considering a platform option it has long eschewed as foreign to the firm's culture: fee-based accounts. |
Registered Rep.
January 1, 2003
Will Leitch |
Not Going Gently Into that Goodknight The day after his retirement in December, Edward Jones broker Jim Goodknight, 60, headed to the lake by his home in Joplin, Mo., to spend some well-deserved time fishing. Seeing him, it would be easy to forget that the unassuming Goodknight changed the way Edward Jones does business. |
The Motley Fool
May 20, 2004
Tim Beyers |
American Express Unit in Scandal The broker could be a target of a regulatory inquiry into mutual funds revenue-sharing. How can you tell if your own broker or advisor has a conflict of interest? |
Registered Rep.
May 1, 2005
Kristen French |
Scandal Scorecard: Mutual Funds on Top With the SEC and NASD recently levying more than $80 million in fines to five firms (for transgressions related to revenue sharing and B shares), mutual fund sales practices officially sit on the front burner. |
Registered Rep.
August 8, 2013
Megan Leonhardt |
When the Fight to Independence Is Won Breaking away from a large institution can get messy. But if this advisor's tale is any indication, it does pay to fight the system -- sometimes. |
BusinessWeek
September 5, 2005
Anne Tergesen |
Slow To Reveal The Deals Sure, brokerage firms and fund companies are disclosing more about their financial dealings. Dig deep enough, though, and you may unearth more questions than answers. |
Registered Rep.
August 18, 2004
Will Leitch |
SEC Unanimously Votes to Ban Directed Brokerage The 5-0 vote surprised few. Perhaps more worrisome was the call for comment on overhauling or banning outright 12b-1 fees, which were described as disguised commissions. |
Registered Rep.
May 26, 2010
Christina Mucciolo |
More Changes at Edward Jones, Chief Strategist Alan Skrainka Out According to a Jones spokesperson, Skrainka was ousted due to "his use of written materials without giving attribution." |
Registered Rep.
September 1, 2005
Karen Donovan |
Under Siege Executives of broker/dealer firms are not exaggerating when they say it seems like regulators are locked into a competitive battle to collect the most pelts on Wall Street. |
Registered Rep.
November 18, 2003
Will Leitch |
Senate Committee Hears Testimony about Fund Industry Each day seems to bring more news from the mutual fund industry. And industry reform is in the air. The climate is such that on Capitol Hill today even the mutual fund industry's lobbying group had to eat some crow. |
Registered Rep.
July 30, 2003
Will Leitch |
SIA Says "Me Too" on Sales Fee Investigations Amid the brewing investigations into mutual fund sales practices, the Securities Industry Association came out last week in support of the new Joint NASD/Industry Task Force. |
Investment Advisor
January 2007
Kara Stapleton |
News & Products Bank of New York and Mellon Financial Corporation announced plans to merge... The brokerage firm Jefferies & Co. will pay $9.7 million to settle SEC charges... New York Attorney General Eliot Spitzer has sued UBS... etc. |
Registered Rep.
April 1, 2006
John Churchill |
Keeping Up With the Joneses While Edward Jones will likely continue to lose larger producers until it finds another way for them and their wealthier clients, the business of the firm is really about serving the middle market. |
Registered Rep.
October 20, 2004
Will Leitch |
Tough Talk at SIA Mutual Fund Conference NASD Chairman and CEO Bob Glauber blasted the mutual fund industry for trying to shift the focus of SEC regulation away from the people it was intended to protect: the investors. |
T.H.E. Journal
August 2003 |
Jones Knowledge Releases Updated Open-License Course Management Software Jones Knowledge Inc. has released the new 2003 version of its free open-license online course management and delivery software, Jones e-education: Software Standard. |
Registered Rep.
March 1, 2005 |
Blotter Regulate Thyself, NASD... Class is in Session... He Looked Bigger on TV... |
Registered Rep.
June 1, 2005
Will Leitch |
Edwards Weighing How to Settle A.G. Edwards is ready to talk about paying for its transgressions in the sale of Class B and Class C mutual fund shares. |
Financial Advisor
April 2004
Tracey Longo |
Wanted: Real Disclosure Rules on brokers compensation disclosure are changing---but slowly. |
Registered Rep.
April 7, 2005
Kristen French |
NASD Advocates More Disclosure, Less Paper Broker/dealers and their reps may get a big break on point-of-sale disclosure if the Securities and Exchange Commission heeds recent NASD advice. |
Registered Rep.
June 1, 2004 |
10 Years Ago in Registered Rep NASD warnings, again. |
Registered Rep.
February 3, 2009 |
EJ Employees Are Lovin' It Edward Jones made Fortune magazine's "100 Best companies To Work For," list again this year, its tenth year on the list. |
Registered Rep.
October 1, 2002 |
Warm Bodies Brokerages ranked by number of reps. |
Registered Rep.
January 9, 2006
Kristen French |
Ed Jones, AG Edwards, Baird: Great to Work For The three regional brokerage firms made Fortune magazine's top 100 companies to work for this year. Brokers at AG Edwards and Edward Jones gave their firms the highest marks for everything from sales support to management to ethics. |
Registered Rep.
September 1, 2004
John Churchill |
Hidden Market-Timers A new study of mutual fund firms' enforcement capabilities affirms what many in the industry have known for some time --- omnibus accounting practices by fund intermediaries make catching timers virtually impossible. |
Registered Rep.
July 2, 2003
David A. Gaffen |
Morningstar Editors Differ on Fund Disclosures Among the proposed revisions to mutual fund disclosure rules, the one relating to "soft-dollar" arrangements between fund companies and brokerages is touching off particularly spirited debate. |
Registered Rep.
February 27, 2004
David A. Gaffen |
Regulators, Industry Still Divided On Mutual Funds David Brown, bureau chief of investment protection in the New York Attorney General's office, said insurance companies who sold mutual funds wrapped in variable annuities, along with banks and law firms, may end up becoming targets of Eliot Spitzer's ire in coming months. |
Registered Rep.
May 1, 2012
Diana Britton |
Seasoned Veterans General George S. Patton once said, "You cannot be disciplined in great things and indisciplined in small things." That same philosophy could be applied to being a financial advisor. |
Registered Rep.
June 24, 2004
John Churchill |
Morgan Stanley Sued by New Hampshire Regulators New Hampshire securities regulators are suing Morgan Stanley, charging that in 2002 the firm encouraged its brokers to sell proprietary mutual funds by using sales contests, a violation of NASD rules. |
Registered Rep.
October 23, 2009
Christina Mucciolo |
Ed Jones To Sell Brokerage Unit in U.K. Edward Jones announced the sale of its U.K. business operations to Towry Law, an independent wealth management firm based in the U.K., for an undisclosed sum. |
Registered Rep.
December 1, 2005 |
Registered Rep.'s Broker Report Cards How seven of the nation's largest brokerage firms stack up against each other. |
Registered Rep.
April 29, 2010
Christina Mucciolo |
Edward Jones Raises FA Production Expectations Edward Jones announced that it had laid out increased production expectations for its army of 12,700 advisors that will take effect next year. |
