Why doesn't anyone cold call to pitch stocks? all you guys pitch bonds...
I do.... been doing it for years....
Ok, so how do you avoid the inevitable; "thanks, I'm going to now go buy that stock from my broker/discount broker.."?My thoughts Jack, are finding a really good utility stock, decent dividend, selling it as a growth/income story, with rising dividend potential? How would you present that?
Soyuz, I'd suggest you are on to something though. Being a stock broker today, as a big part of your biz, is a great way to differentiate yourself, and has gone a long way in my efforts to grow AUM from existing clients. Very few RR do that biz these days, and they leave a ton of money on the table because of that.
scottrade and clients lose money on stocks. hardly ever do on bonds. stocks are a great thing to own but cold calling with them is difficult. establish the account with bonds, then diversify from there.
you can also call about bonds that no one else has. and bonds have a limited inventory. makes them buy today.
Gethardgetraw.... Yea i heard that people will try to open the account on a bond and then second trade on a stock do you think that is the better route? I've just been pitching stocks.. small caps at that.. and its pretty hard to get someone to open on them.. Also do u guys think it matters what lead source you're using?
GHGR, back in the 99 time frame, nobody on earth wanted bonds. "you can't make money doing THAT"... Every few years, someone says "you can't make money doing THAT..." And usually, that then, is exactly where you can make money. Bonds back then, were coming out tax free, 6% coupon, AAA rated.... But, I'd agree that any prospecting strategy that is running against the tide, is quite a challenge...,
If I drove as fast as I could, to get to NY, that doesn't mean I get there does it? I have to also be headed the right direction, make the proper turns along the way. Dials is only a part of success in getting accounts. So, in the worst example, calling the white pages would be an example of driving very fast, but not in the right direction. Dials upon qualified investors with a product or service folks are willing to buy.... What you'd maybe realize, if you study this site, is that most folks seem to have found success in the following model. Good bond, dialed to many thousands of people that are QUALIFIED, creates results. Frankly, I cannot argue with that model one least bit.
Seyless26 wrote:Why doesn't anyone cold call to pitch stocks? all you guys pitch bonds...Because if you want to get all of their money, you lead with bonds.
jackofalltrades wrote:I do.... been doing it for years....did you start your business by calling on stocks?
Seyless26 wrote:jackofalltrades wrote:I do.... been doing it for years....did you start your business by calling on stocks? I did... and i did well right away....why...? I didn't have all of these ideas and assumptions everyone on here is making. Such as: It's tough, if you want the big money go w/ _____, etc.If you've been on here long enough you've seen the threads wherein alot of us posted our GDC 1st 3 yrs in... I did and do well. While 12 yrs later I do have a bit of a diff. approach, I take solace in knowing that if you sucked my business out from under me and I had to start over. I could and would do it and I would do so w/ stocks first.Sadly, I'd probably make more money that way then I do now... to some of you that may actually make sense.
I hate the word "pitch" it sounds like a used car salesman tactic.
I started presenting bonds, to just get the idea across to CD-Saver's that you can get better rates. I'd like to call on stocks, but avoided it for the reasons people posted above. I'd like to hear the experience people have had with calling on stocks, and how it differs from bonds.
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