diff --git a/steam/client/__init__.py b/steam/client/__init__.py
index 3142295..d97a920 100644
--- a/steam/client/__init__.py
+++ b/steam/client/__init__.py
@@ -109,10 +109,15 @@ class SteamClient(CMClient, BuiltinBase):
             jobid = msg.header.targetJobID
 
         if jobid not in (-1, 18446744073709551615):
-            self.emit("job_%d" % jobid, msg)
+            jobid = "job_%d" % jobid
+            if msg.body is None and self.count_listeners(jobid):
+                msg.parse()
+            self.emit(jobid, msg)
 
         # emit UMs
-        if emsg in (EMsg.ServiceMethodResponse, EMsg.ServiceMethodSendToClient):
+        if emsg in (EMsg.ServiceMethod, EMsg.ServiceMethodResponse, EMsg.ServiceMethodSendToClient):
+            if msg.body is None and self.count_listeners(msg.header.target_job_name):
+                msg.parse()
             self.emit(msg.header.target_job_name, msg)
 
     def _bootstrap_cm_list_from_file(self):
diff --git a/steam/core/cm.py b/steam/core/cm.py
index 2102c6f..57d0ff2 100644
--- a/steam/core/cm.py
+++ b/steam/core/cm.py
@@ -247,6 +247,10 @@ class CMClient(EventEmitter):
         emsg = EMsg(clear_proto_bit(emsg_id))
 
         if not self.connected and emsg != EMsg.ClientLogOnResponse:
+            self._LOG.debug("Dropped unexpected message: %s (is_proto: %s)",
+                            repr(emsg),
+                            is_proto(emsg_id),
+                            )
             return
 
         if emsg in (EMsg.ChannelEncryptRequest,
@@ -254,13 +258,13 @@ class CMClient(EventEmitter):
                     EMsg.ChannelEncryptResult,
                     ):
 
-            msg = Msg(emsg, message)
+            msg = Msg(emsg, message, parse=False)
         else:
             try:
                 if is_proto(emsg_id):
-                    msg = MsgProto(emsg, message)
+                    msg = MsgProto(emsg, message, parse=False)
                 else:
-                    msg = Msg(emsg, message, extended=True)
+                    msg = Msg(emsg, message, extended=True, parse=False)
             except Exception as e:
                 self._LOG.fatal("Failed to deserialize message: %s (is_proto: %s)",
                                 repr(emsg),
@@ -269,6 +273,9 @@ class CMClient(EventEmitter):
                 self._LOG.exception(e)
                 return
 
+        if self.count_listeners(emsg) or self.verbose_debug:
+            msg.parse()
+
         if self.verbose_debug:
             self._LOG.debug("Incoming: %s\n%s" % (repr(msg), str(msg)))
         else:
diff --git a/steam/core/msg/__init__.py b/steam/core/msg/__init__.py
index c68a79a..d1eaab3 100644
--- a/steam/core/msg/__init__.py
+++ b/steam/core/msg/__init__.py
@@ -62,23 +62,30 @@ def get_cmsg(emsg):
 
 class Msg(object):
     proto = False
-    body = '!!! Unknown message body !!!'  #: message instance
+    body = None     #: message instance
     payload = None  #: Will contain body payload, if we fail to find correct message class
 
-    def __init__(self, msg, data=None, extended=False):
+    def __init__(self, msg, data=None, extended=False, parse=True):
         self.extended = extended
         self.header = ExtendedMsgHdr(data) if extended else MsgHdr(data)
         self.msg = msg
 
         if data:
-            data = data[self.header._size:]
+            self.payload = data[self.header._size:]
 
-        deserializer = get_struct(msg)
+        if parse:
+            self.parse()
 
-        if deserializer:
-            self.body = deserializer(data)
-        else:
-            self.payload = data
+    def parse(self):
+        """Parses :attr:`payload` into :attr:`body` instance"""
+        if self.body is None:
+            deserializer = get_struct(self.msg)
+
+            if deserializer:
+                self.body = deserializer(self.payload)
+                self.payload = None
+            else:
+                self.body = '!!! Failed to resolve message !!!'
 
     @property
     def msg(self):
@@ -116,7 +123,10 @@ class Msg(object):
             self.header.sessionID = value
 
     def __repr__(self):
-        return "<Msg %s>" % repr(self.msg)
+        return "<Msg %s%s>" % (
+                    repr(self.msg),
+                    ' (No Body)' if isinstance(self.body, str) else '',
+                    )
 
     def __str__(self):
         rows = ["Msg"]
@@ -138,32 +148,36 @@ class Msg(object):
 
 class MsgProto(object):
     proto = True
-    body = '!!! Unknown message body !!!'  #: protobuf message instance
+    body = None     #: protobuf message instance
     payload = None  #: Will contain body payload, if we fail to find correct proto message
 
-    def __init__(self, msg, data=None):
+    def __init__(self, msg, data=None, parse=True):
         self._header = MsgHdrProtoBuf(data)
         self.header = self._header.proto
         self.msg = msg
 
-        if msg in (EMsg.ServiceMethodResponse, EMsg.ServiceMethodSendToClient):
-            proto = get_um(self.header.target_job_name, response=True)
-            if proto:
-                self.body = proto()
-            else:
-                self.body = '!! Failed to resolve UM: %s !!' % repr(self.header.target_job_name)
-        else:
-            proto = get_cmsg(msg)
+        if data:
+            self.payload = data[self._header._fullsize:]
 
-        if proto:
-            self.body = proto()
+        if parse:
+            self.parse()
+
+    def parse(self):
+        """Parses :attr:`payload` into :attr:`body` instance"""
+        if self.body is None:
+            if self.msg in (EMsg.ServiceMethod, EMsg.ServiceMethodResponse, EMsg.ServiceMethodSendToClient):
+                is_resp = False if self.msg == EMsg.ServiceMethod else True
+                proto = get_um(self.header.target_job_name, response=is_resp)
+            else:
+                proto = get_cmsg(self.msg)
 
-        if data:
-            data = data[self._header._fullsize:]
             if proto:
-                self.body.ParseFromString(data)
+                self.body = proto()
+                if self.payload:
+                    self.body.ParseFromString(self.payload)
+                    self.payload = None
             else:
-                self.payload = data
+                self.body = '!!! Failed to resolve message !!!'
 
     @property
     def msg(self):
@@ -193,7 +207,10 @@ class MsgProto(object):
         self.header.client_sessionid = value
 
     def __repr__(self):
-        return "<MsgProto %s>" % repr(self.msg)
+        return "<MsgProto %s%s>" % (
+                    repr(self.msg),
+                    ' (No Body)' if isinstance(self.body, str) else '',
+                    )
 
     def __str__(self):
         rows = ["MsgProto %s" % repr(self.msg)]