Letter to contacts

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12345's picture
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Joined: 2006-12-04

I am going to be sending a letter to everyone I know letting them know I have begun a career as a Financial Advisor, could anyone here post a letter they may have used or PM it to me. Thank you for your help.

troll's picture
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Joined: 2004-11-29

Dear Friend,
I've recently begun a career as a financial advisor. I feel that the 3 month training program my firm put me through is sufficient to immediately begin dispensing advise to you for your hard earned assets.  I have no other experience with investments and I would love it if you moved your accounts here so I can practice on them.  My firm will require me to put your accounts into their flavor of the month investments.  If we're lucky, I won't lose all your money and we will remain friends.  If we're lucky, I won't fail out of the business and your accounts won't go to another broker in the office.
Sincerely,
12345
Newbie Broker

12345's picture
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Joined: 2006-12-04

Ferris Bueller wrote:
Dear Friend,
I've recently begun a career as a financial advisor. I feel that the 3 month training program my firm put me through is sufficient to immediately begin dispensing advise to you for your hard earned assets.  I have no other experience with investments and I would love it if you moved your accounts here so I can practice on them.  My firm will require me to put your accounts into their flavor of the month investments.  If we're lucky, I won't lose all your money and we will remain friends.  If we're lucky, I won't fail out of the business and your accounts won't go to another broker in the office.
Sincerely,
12345
Newbie Broker

I Like it, they'll be lining up!

Malcolm's picture
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Joined: 2004-12-02

12345  I frankly would not rely on friends and family. If you succeed over the long run it wont be because of them.  Rather than putting them in uncomfortable postions get successful for a few years.  Prove you will succeed and then you may see money come to you from these areas.  That's just my opinion.  Best of luck in your new career.   

troll's picture
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Joined: 2004-11-29

Sarcasm from my previous post aside, I agree with Malcolm.

Ashland's picture
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Joined: 2007-03-06

This was posted my whomitmayconcern in the weekend joke thread:

So a guy gets a job as a stock broker.

He's through the training.

He's smiling, he's dialing, he's listening to the Hoot and Holler (which is also known as the Squawk Box, but... well you know)

One day he decideds it's time to call DOD (Dear Old Dad) who has plenty of money and has been dealing with stock brokers for as long as junior can remember.

"Dad!"

"Yes son?"

"Dad, I was just listening to the Internal Communication Device. There was a call, specifically for the top of the class new guys and the head of trading himself came on to tell us about a great opportunity.."

"Yeah?" said dad, who didn't want to spoil the mood.

"Yeah! As it turns out there is this stock that the firm follows but can recommend..."

"Oh? Why's that?"

"Well the guy said that the company is too small, and if they cam out and told everybody about it, it would run up too fast, and so they're going to introduce it slowly, during dog and pony shows about other things over the next year..."

"What do the earnings look like?"

"Oh, that's what's great about this company! it earned a penny last year and is trading at ten dollars a share. The analysts think it'll earn 2 cents next year and at that multiple, the stock is a sure double. Dad I don't call you on just any stock! This one is a sure fire hit and I wanted you to get some!"

"How are things going son? Are you getting a lot of clients?"

"Oh yeah dad! I'm knocking the cover off the ball, that's why they included me in this special call! 'Course, anybody in the firm can listen but it was directed only to the toppermostist guys."

"So you're selling a lot of these stocks to your new clients?"

"Oh yeah."

"You making a loty of money?"

"Well yeah I'm doing gross, but you know how it is, after expenses and the firm's cut and whatnot, that's why they have these calls, because they offer us the stock on the bid, and then they print it at the ask plus the commission so it helps new guys that are workin hard. It's a great firm I work for, one of the best one the street! I think it is THE best, especially in the research department! Did you know we have one of the youngest research departments on all of Wall Street? Our guys have the latest MBAs with all the newest computer tools available and the most modern investment theories of any firm on the street!"

"So you're eatin good? Your mother'll get mad if I don't ask!"

"Well, yeah, well there's always some guy taking the guys out to lunch or dinner someplace, you know, guys for mutual fund companies and annuities, that sort of thing."

"You've hit your goals then? The firm requirements."

"Oh yeah."

"Well, then let's see, what if I were to buy 500 shares of this stock..."

"I think you should get a thousand dad, that's the minimum lot they're giving this deal on."

"OK 1,000. How much commission would you make on that, including the markup."

"Um, well $1,000. But I was gonna discount that for you..."

"$1,000, and how much of that would hit your grid?"

"Well, cause I'm still new $750, but if I weren't at the top, I'd only get $500!"

"Sounds like you're doing great. Now, of the $750, how much do you get?"

"Thirty Percent Payout meannnnnnssss.... $225"

"And what's that after taxes and deductions?"

"About $135, see, I'm not trying to beat you here."

"How about if we do this? How about If I just write you a check $270 and that way you'll have gotten the commission that you would have made for buying and for selling it, and I won't have to lose $5,000 of my $10,000 investment for the love of my son!?"

OK so it's not all that funny it's poigniant! I'm going surfing, Ill be back before the close. Anybody calls, take a message!

12345's picture
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Joined: 2006-12-04

I have no intention of going after friends and family just thought they might be a good source for referrals.

anonymous's picture
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Joined: 2005-09-29

12345,
Don't waste your time writing a letter.  If you want to meet with them, pick up the phone and call.   If you are primarily dealing with investments, wait to call on friends and family.  If you are primarily dealing with insurance, call them immediately.

12345's picture
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Joined: 2006-12-04

Thanks anonymous, I think I'll hold off on the letter and wait until I get some experience.

AllREIT's picture
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Joined: 2006-12-16

anonymous wrote:12345,
Don't waste your time writing a letter.  If you want to meet
with them, pick up the phone and call.   If you are primarily
dealing with investments, wait to call on friends and family.  If
you are primarily dealing with insurance, call them immediately.

Dear Aunt Jane,.

While you may not be concerned about what you leave behind for your
survivors, your survivors certainly are. That's why I'd like to talk to
you, with no obligation, about life insurance....

snaggletooth's picture
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Joined: 2007-07-13

Ashland,
Good find.  I must have missed that on the joke thread...well done Whomit.
When I was a newbie, a guy in my office said, "New brokers cripple more people than Polio!"  Didn't care for him much, but he's right.  Imagine all the suffering out there........

Ashland's picture
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Joined: 2007-03-06

Snaggletooth -

I was at Jones in 1998-1999. I had a really quick start. I had $14MM AUM my 2nd year.

$7MM was in LU & $6MM was in WCOM... Anyone ever heard of ARXA, SFSK, or QUOT???

snaggletooth's picture
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Joined: 2007-07-13

Ashland wrote:Snaggletooth - I was at Jones in 1998-1999. I had a really quick start. I had $14MM AUM my 2nd year. $7MM was in LU & $6MM was in WCOM... Anyone ever heard of ARXA, SFSK, or QUOT???
So your book was worthless in 2000?  How long did it take you to get back to that $14MM mark?  Did you solely call and door knock and pitch those 2 positions?  I am intrigued by these painful events...

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