You want to wrap a ferrule as close to the end as possible. Any exposed ferrule that is not reinforced with thread wraps is in danger of splitting.

Even a slight gap of a 1/16" inch is enough to start a split. At least it was on one of my rods.

It's not that hard to keep the epoxy out of the joint. If some threatens to get in the way just clean it out with a Q-tip soaked in white vinegar.