PP said we’re not selling the firm. But do you think going public is a possibility?
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@ts No managing partner will want to be the one who ended what Ted created. Maybe if the company was going under. But when you are this profitable, no need to be the one who ruined it. As much as I despise PP and DC, neither would sell.
For the "nope" votes. Can you explain why you think this? The 'yes' votes have given a logical reasons why this their opinion. What is your reason behind why you think the company will continue as a LP?
Yep
Also nope
Nope
The more outsiders that are hired at the upper GP level and ELT. Especially those who have close relationships with M&A and investment bankers. The more likely we will be public or sold. Ted despised this. These new people don't care.
I have been saying since about 2019 that the actions they are taking is to put themselves in a positing to either be sold or to go public. More and more evidences is pointing in this direction.
Yes. Fr@nk l#@uinta let it slip that we tried to market ourselves to LPL at one point (then he was fast tracked to retirement like a week later). We also tried to do "strategic partnering" with citi but that failed in 2023. From what I have been told, we are too risky and too expensive to be bought/merged/sold etc. However, there has already been seeds planted about us letting outsiders buy into the LP offer. It will start off as this. "We are still private LP, we are not publically traded etc etc". Once that mold is broken, then they can condition everyone to being used to the possibilty once PP is gone. When new MP clown takes over, that is when we open ourselves up to "transitioning into the future" by going public. I also think the LP offer in sept will have a lot of us being able to read the tea leaves. This place, in its current condition, cannot sustain itself by paying out record amounts of LP $ while we bleed FAs in record numbers.
I don't think it will happen under PP, but the next ghoul in charge will do whatever benefits them and ELT personally the most. Every single action they've taken leads to them caring about themselves above all else - why would a tiger change it's stripes?
Selling would probably cost a large bank $25-35 billion, so it would need to be 1) a US Bank or PNC-like that is wanting to elevate themselves into the top tier of national wealth managers, and giving themselves even more nationwide presence (especially in suburban and rural markets), or like 2) a Goldman Sach trying to have more reach into the mass market/affluent.
Option #3 would be "going public". Notice how they can bend language and say we "aren't selling" but "this will open up more capital to invest in the future and our clients (fingers crossed behind back, secretly meaning giving us huge personal cash windfalls for our ownership basis).
I will be shocked if Edward Jones isn't owned by investors or another company by 2033. There are just too many pieces of sh-t running the show at this point.
@OP , yes. You have to look at everything that's been happening the past few years. I'm more concerned on the new LP offering and the new bank.