Legit question 🤔 considering all these changes that are harming a once strong and proud company.
7 replies (most recent on top)
@178 SW is about profits. Money is their god and you don’t matter.
Disagree. Not Cr--ker Barrel or Target. More like Southwest Airlines who’d shiver at money is not my god.
@ab The average Edward Jones client is an elderly person getting scammed into buying awful annuities, investing in terrible mutual funds and paying some of the highest fees in the industry for some of the most incompetent financial advisors in the industry. I'd say the average Edward Jones client is pretty daft. No offense to your relatives. I'm sure they're great people.
K-mart lol...Instead of doing things that are not directly head on competing with wal mart (ie the big banks on wall street) we have decided to stop thinking outside the box with our business model to change with times (door knocking to sell A share mutual funds). Instead, we are now in panic mode while trying to follow and copy every stupid move the big guys are doing in hopes that one day we (penny) will be allowed to play in their sandbox. The reason we didnt go under or layoff anyone in 2008 was because we did our own thing and ignored the greedy wall street culture. Now, we are nothing more than a cheap knock off of Bear Stearns
@OP tbh I think they are more similar to Sears. A 100 year old company that hadn’t paid attention to the changing landscape of their industry and fell too far behind to catch up. They thought their target clients didn’t want fancy tech and all the choices other companies offered. They seem to be flailing a bit. Trying to do to many things at once. I expect to see them announcing more partnerships and perhaps acquisitions to try to close the gaps (remember when Sears bought Lands End?)
@a5 Clients aren’t as daft as you think. Especially clients who have relatives in the home office. Think about how many families sat around the dinner table over the holidays to discuss life events after the layoffs at Edward Jones. I know many of my relatives are looking to move to a different brokerage after the major malfeasance in leadership over the past year. Just give it time. It will happen slowly and then all at once.
The changes and mistakes at Target and Cr--ker Barrel were well publicized and known to customers. I know FAs who are completely clueless as to what goes on in the home office, nevermind clients.