BigRed & Teeks,
Thanks to you both, I'm really rusty and not really looking forward to starting this....kinda got out of the habit...not good.
it really helps having you both on board...let's do it because it works.
All The way
believe me ATW I am with you there. I need to add about $3500-$4000 in Gross per month by END of Year so my wife can stay at home.
I think we can do it. Lets get out there and make it rain
I hear ya Big Red. Good for you on the drive and wanting to have your wife care for the hone.
As for me, the motivation is family trips;( I'm married and have a son and daughter) to London early summer with the family to see some friends as I used to be a stockbroker there , and then back to Ixtapa, Mexico which is where we tend to spend Christmas. We see my wife's family as she is Mexican.
There are other things such as Scuba diving with my son, Motorcross with him, plays with my wife and daughter, weekend breaks with them....just want to enjoy it while we are all happy and healthy....
It dosen't get any easier picking up the phone again. I don't think I've done a steady campaign on the phone since the summer and I want to get back at it as it's always worked for me and is pretty predictable as to results.
Thanks for joining in BigRedFan...it does help a lot.....
How about you Teeks, what 's driving you???
All The Way
The question is.....is it really posible, from a cold start,a shhet of names on a piece of paper with a lot of effort and a bit of good 'ol lady luck shinning....to add 10M to a book in 6 months....seriously...oufffff. seriously...can it be done...I'm curious.
Stay tuned to find out....I have tried but didn't...maybe this time...
All The Way
My question is what script is everyone going to use??
My script is very generic. My compliance will not allow me to recommend a specific product site unseen due to suitability. I simply introduce myself and my firm. I ask if I can mail them some information which includes a non-specific piece on investing, along with my bio, a letter and a picture of my office. I include a million dollar bill thanking them for taking a moment to consider myself and my firm and I tell them when I will call back. On the call back they typically remember my info due to the million dollar bill and I have just begun a very non-threatening dialogue. The call back ranges from not interested to discovering their unique situation. Vince Lombardi told his players to run the play but to also "run to daylight." I don't hammer one particular investment. I "run to daylight" and follow up on where the openings might be as we talk.
What motivates me? It's simple, I want to be the best and never worry about my family needing money. That's it.
Also just for fun ill share my marketing plan for 2014 been running numbers for these campaigns last three years so results are pretty close if the work is inputed
Hours 15 a week
10 k mailers/insert in paper - 10 attendees
1 out of 5 set appnt = 2 appointments
Social events (bring a friend referral opportunitys)
Nna current clients
Roughly goal is
250k from existing client base
250k cold calls
750k overall a month * 12 = 9mill 90k fess based
Obviously will never be this cut and dry but these are the targets
Great numbers and also different activities to capture new accounts. Good stuff...I haven't done mailers in a while Teeks, so thanks for showing the ratios.
Good luck warrior, keep us posted on results. i'll catch up with you all later in the week.
Big Red, I'm using different pitches based on headline news, markets off like now, regular steady income, things like that. I'll let you know how it goes this week.
All The Way
Hi! I'm a new guy here...see below(this is just to erase a duplicate post). GL to everyone out there all day grinding!
Hey Guys. Been distracting myself from coldcalling and getting myself inspired over the last week reading your thoughts and experiences from the frontline. I am starting with pretty much exclusively cold calling, and I already know that I need to get my dial(200/300) and contact numbers(7% per dial) up. I am going to be shooting for 2,000 dials my first week and see where that leaves me(I've been at 30dials/hour due to spreadsheet and other distractions). Focusing on refining my speed for the rest of the day and Saturday. Also, I am a new FA with 0 clients and doing business development for a PWM team and we need accounts to be $1mm and up or we don't get paid. If anyone has any ingenious ideas to complement the grind let me know. Thanks again for all your contributions to this site it has really given me perspective on what it take to make it in the biz. Best!
Felt a little bit like the Broncos out of the gate from the get go for our campaign last week.
all on muni script
The numbers are actually right on once I put in 3x time for 3 hr days in dials to reach the 20 lead mark. Thats the goal going to keep moving towards it!
Is it a waste of time to merely try to get prospect to allow you to mail information on Portfolio Manager/Team if I face account min. of $1 million? Calling residential for now. Any feedback is appreciated!
Thanks for the thoughts Teeks. Good luck this week on your numbers!
Good afternoon all. I have never posted on hear before. I have been reading these forums for years (BondGuy, 500 day war and all). Kudos to you all for being supportive of one anothers' efforts. I wanted to ask if any of you could provide answers to a few questions. My business is being built solely on cold calling. I have had some success with calling off of the "Financial Planning" angle, however, everything I am seeing indicates it is best to lead with a product. Would any of you comment on a possible Municipal Bond Script that you have had success using? I wanted to mix it up and see if I could improve my conversion rate. Also, my firm preaches "fee based" business and that is great but, I am realizing I will hit their numbers and still not be where I want income-wise without blending in transactional business, also. Sorry for being long-winded and thanks in advance for any responses.
This Campaign needs to be worked in more time during the week.
3.5 Hrs on First Cold Call contacts
( all on Seminar calls 2 of the 5 leads rsvp for event)
This is an excellent thread.
I find myself under the gun after my first year of selling at EDJ; in a similar place All The Way was in when he first started this thread. Starting from scratch, I had success doorknocking in the beginning, but this form of prospecting as an end all became stale quickly. Not that it isn't incredibly effective, I just need some variation. I recently purchased a list and will be supplementing with some ideas that I've gleaned from the regulars on this post and will be conducting a blitz of my own starting tomorrow. I'm going to start at the EDJ prescribed 25 contacts and ramp up to 40-50.
I would be very happy with 5M AUM in 6 months... and ATW proved it can be done...(shout out with the ellipses).
It's time to start hunting or hang it up. Who's with me?
ATW - about to start same campaign for rest of the year. What did your results turn out to be for your June deadline?
hi everyone im from santiago of chile and i am fp since 2008,i need a advise of how you self motivate with cold calling ( so much time that i dont cold calling with strenght i think i cold call like 10-20 times per week), i am desmotivated since december of 2013 =/
thank you very much =)
A few days ago it was nothing to do, began to look for how to make money on the internet and came across this seven WebMoney purse
Said that the need to put 77 to 7777 dollars and come back at 7 times more! I thought it was just another divorce, but $ 77 was not sorry to go.
Already thought lost money, but in 7 hours by going to the page I saw that I had 539 dollars! Sent a second time, it's over. Sent a third, also came. But only 7 times a day, you can send money
Hello Top Gunners,
Anyone still using the phone to bring in business???....its incredibly quiet out there....maybe a little 50 contact a day Blitz to help keep things moving. I'll be back.
All The Way
Hey All The Way,
I'm new to this side of the business. I've read all kinds of stuff on these forums (I've read through this thread several times in he past couple of months) and have been procrastinating for quite some time with picking up the phones. I started dabbling last week, made some calls yesterday and officially started a 500 day war of sorts today.
I'm independent and am going to start a thread because I could sure use motivation and pointers! But today's #'s were 278 dials, 14 contacts 2 leads.
I'm on production starting in 2016. Spent the last week reviewing this thread as I am in search of the best possible way for me to get my business off the ground. I will be mining through the bottom of my partners books to try to bring in more assets but have become convinced that I need to get myself in front of more people. It sounds like some guys out there are still having success dialing the phone.
I want to join anyone in 2016 that will be making a conceded effort to pound the phones. I can sacrifice about 2.5 hours a day for this. Just need a direction in terms of a list. ATW - How are you creating these lists from scratch? I know you're using residential areas 20-25 min within your office location... But where are you getting this info in the first place? Phone books? Online?
Your plan looks solid. 2.5 hours a day will get you there. I've made some changes in how I build my business and will start a new thread on the weekend to focus on the prospecting activities that I'm doing, mainly seminars and 1 on 1 meetings. Yes, the phone still works and I look forward to following your progress. Be active, call 4 days a week and post often as it can get a bit lonely out there.
All The Way
ATW, Looking forward to reading about your updated prospecting strategies. I will keep you updated on the calling.
I'm about to embark on an aggressive cold calling campaign myself. 100 Contacts Per Week until August 1st. I'm hoping to bring in 1 million per month in new assets. I have a funnel that is ripe from calls last year, just need to start bringing in the assets.
I'm on board for posting stats, results and sharing ideas. I've been calling on general wealth management, specifically asking them to let me review their portfolio. I'm interested in hearing about how and what products people are calling on.
I call small businesses and corporate directories
Browndog, where are you getting your lists? Do you send out any mailers prior?
I'm going to focus on general wealth management as well as financial/retirement planning.
Business owner lists come from a public database, corporate direct dials are purchased
Browndog, just got my hands on a local corporate dial list. Are you getting anyone asking you how you got their business number? What is your response for that?
I just tell the truth, "I work with a company that creates direct dial lists for companies in the area that I'd like to work with". I figure that if you are trying to build someone's trust, it's best not to lie to them in the first conversation.
Also, if you are saying that you work with select employees of XXXX Company.... be prepared for someone to ask you who you work with. If you don't have a reference it can put you in a bad spot. I got called out on that one before.
bigeatz are you calling on product?
browndog - I'm calling on financial planning and portfolio reviews. If they're not interested, I ask them if they would be interested in attending a seminar (running one first week of may) or if I can send them some more information.
What are you calling on?
I see you want to do biz owner seminars. I run them on a regular basis and have a check list of what and when to do it. Let me know if you want it uploaded. it may seem a bit overloaded at first but once you've done a couple it's pretty much....easy going.
I got one planned for this Thursday, so far 15 people in.
Go get them Big Man.
All The Way
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