Cold Calling Europe from the U.S. - Is it worth it?

6 replies [Last post]
bullmarket2711's picture
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Joined: 2010-12-01

I just moved over from a boutique firm to a large wirehouse and I have been flirting with the idea of calling europe.  Does anyone do this on a regular basis?  Know anything about the licensing etc?  I was always told that its much easier doing business in the U.S. alone but I know a lot of people who are very successful with this. Anyone experienced please leave your advice... Thanks

BigFirepower's picture
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Joined: 2010-07-09

There are typically legal restrictions that prohibit this stuff, because it has much to do with regulation. There was trouble in Canada back in the mid to late 90s, and you cannot cross prospect/do business that I'm aware of. I think you'd have to be part of some international unit that has licensing in a foreign country. Unless you have existing clients, are some big shot, your firm is going to shut you down. Bigger picture, you typically never want to prospect away from about 10 miles of your location if you can help it. Never go beyond a "natural" market, unless you have to, or can afford it.    

Otane's picture
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Joined: 2008-08-04

You have to be kidding me, right? Calling Europe?Try your own backyard first. 

Sportsfreakbob's picture
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Joined: 2008-08-24

When i was in training, 11 years ago, i remember sitting down with the head guy of the biggest producing team in the branch. As part of the training i was required to interview him. One question i asked was, if you were starting all over again, what would you do differently.His answer was that rather than cold call all over the country, he would have totally focused on calling people within a reasonable driving distance from the branch, because his best relationships were the face to face meetings.

pforprez's picture
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Joined: 2011-02-01

I have actually the same question as the creator of this thread. I am just starting out in the MSSB Trainee program and I moved to the US just two years ago from germany. I lived all over europe and all my family is still living in Germany as well. Therefore it would be very interesting for me to also prospect in Germany as well as using my relationships I have their! Do you know if this is at all possible?

JohnnyReb's picture
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Joined: 2010-11-06

So long as you got the local "accent" down may be worth a try....Rosetta Stone!

myonbroker's picture
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Joined: 2011-03-28

pforprez wrote:I have actually the same question as the creator of this thread. I am just starting out in the MSSB Trainee program and I moved to the US just two years ago from germany. I lived all over europe and all my family is still living in Germany as well. Therefore it would be very interesting for me to also prospect in Germany as well as using my relationships I have their! Do you know if this is at all possible? I am told that Germany does not allow American Brokers to cold call inside Germany (This was from my compliance officer 4 years ago , so I would check the laws. 

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