Just because one guy from company ABC says "you need to be on our approved vendor list," or "Our company says we cannot buy leads" it does not matter.
Another advisor with the same company does not care and will do business with us and not check his company list. Some advisors obey their company rules and others do not.
Therefore, some guy from Edward Jones (or any company) may tell you that "We need to get compliance approval every time we..."But the next guy from Edward Jones doesn't care what his company says and will do whatever he pleases.
Therefore, there is no single rule that applies to any of these firms because many of these financial professionals will do whatever they want and it doesn't matter what rules their firm has. And whatever rule the company has, they can change it in three months. In fact, each time these firms get a new compliance officer, the rules change. That is why listening to what one guy from one firm says has no validity for anybody else at that same firm.
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