At a social gathering or party, what do you say...

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haulin79's picture
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At a social gathering or party, like a wedding, birthday party, etc...what do you say when someone asks "What do you do?".
 
I want to let them know that I can likely help them but I don't want to come off as too forward during those social circumstances.

snaggletooth's picture
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haulin79 wrote:At a social gathering or party, like a wedding, birthday party, etc...what do you say when someone asks "What do you do?".
 
I want to let them know that I can likely help them but I don't want to come off as too forward during those social circumstances.
 
It depends on what you do.  Is there anything you specialize in or do you mostly try to be as generic as possible?
 
Whatever you say, I would try to make it conversational.  If you say, "I'm a Financial Advisor" or "Wealth Manager", lump you with every other advisor.  You could say, "I help people not lose money in this market" or "I help people protect their money" or "I do safe money" or whatever you specialize in.

Ron 14's picture
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You could just answer, Women

snaggletooth's picture
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Ron 14 wrote:
You could just answer, Women
 
That's funny.  I'm going to use that when I'm out prospecting at the bars next time.  Thanks Ron!

MISS JONES's picture
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I say I help people save for retirement, Save money on their taxes, plan for education.. etc..

Vin Diesel's picture
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i'm a legit bernie madoff

HAAIC's picture
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MISS JONES wrote:I say I help people save for retirement, Save money on their taxes, plan for education.. etc.. Yawnnnnn........

UNDERMINDED's picture
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I just tell them I'm a financial advisor with Edward Jones.  Then they respond with "Oh yeah, I'm with (biggest producer in region)..." 

I respond with "great, he really knows what he's doing"  (ugh, why did I come to this stupid thing?)

MISS JONES's picture
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HAAIC wrote:
MISS JONES wrote:I say I help people save for retirement, Save money on their taxes, plan for education.. etc.. Yawnnnnn........

I don't care if you think it's boring.. Guess what? This business is boring and we are boring. It works for me.

Miss J

JackBlack's picture
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I agree with Miss Jones. I always tell people that exciting investments are overrated. The Chinese say “may you live in exciting times” as a curse.  Slow and steady wins the race.

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Miss Jones I notice your posts as of late have a little attitude to them.  I feel the same way, I'm tired of the bullsh*t, but you need to find your "happy place"  this last 18 months has been stressful for us all and have probably taken years off our lives.  I will disagree that this business we are in is boring and I know I'm definately not boring.  From what I read, you're not boring either, a little testy right now but not boring.  You don't really think the last couple of years have been boring do you?  I will also agree with half of Tenacious D, this may be a curse we are living in. 

someonewouldntexpect's picture
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"f*** you. That's who I AM!"

Still@jones's picture
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hmmm...is someonewouldntexpect another name for miss jones?Otherwise, that last reply simply does not make sense.

someonewouldntexpect's picture
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Still@jones wrote:hmmm...is someonewouldntexpect another name for miss jones?Otherwise, that last reply simply does not make sense.
It does if you've ever seen Glengarry Glen Ross.

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ah! saw it, didn't like it...couldn't take the whining about the "good leads". nobody likes a whiner...ain't that right Miss Jones.

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The answer depends on who asked the question. If a guy or girl with a young kid asked, you specialize in 529 College Savings Plans and helping young families prepare for the future.

If a retired couple asked, you specialize in helping active retirees put together a portfolio that provides them with the income they need to enjoy the lifestyle they desire.

If a wealthy middle aged person asked, you specialize in helping successful local business men and women minimize taxes and plan for an active retirement.

You get the point. You're a specialist. What you specialize in depends on who you're talking to.

Ron 14's picture
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Jack of all trades, master of none ?

Ron 14's picture
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just kidding

OS's picture
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Master of one trade using a large bag of tools.

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MISS JONES wrote: HAAIC wrote:
MISS JONES wrote:I say I help people save for retirement, Save money on their taxes, plan for education.. etc.. Yawnnnnn........

I don't give a f*** it you think it's boring.. Guess what? This business is boring and we are boring. It works for me. What works for you 'Brain Child'? I get loads of business from networking events. Maybe I just run with a better crowd than you! Don't hold that against me. J/K

Miss J

Sounds like you DO give a f***.

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HAAIC wrote: MISS JONES wrote: HAAIC wrote: MISS JONES wrote:I say I help people save for retirement, Save money on their taxes, plan for education.. etc.. Yawnnnnn........ I don't give a f*** it you think it's boring.. Guess what? This business is boring and we are boring. It works for me. What works for you 'Brain Child'? I get loads of business from networking events. Maybe I just run with a better crowd than you! Don't hold that against me. J/K Miss J Sounds like you DO give a f***.
 
Are AA meetings considered social gatherings Bobby?

someonewouldntexpect's picture
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"I specialize in claiming to manage your money when all I really do is let someone else do it and you pay me a fee."

MinimumVariance's picture
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Please, trying to gather assets at a social event is just completely inappropriate. How many doctors do you meet and they say "I'm a physician, a proctologist to be exact, and I specialize on that part of your prostate that's kind of oblong on the cranianium side. Next time your in town let me stick my finger up your ass".

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MinimumVariance wrote:Please, trying to gather assets at a social event is just completely inappropriate. How many doctors do you meet and they say "I'm a physician, a proctologist to be exact, and I specialize on that part of your prostate that's kind of oblong on the cranianium side. Next time your in town let me stick my finger up your ass".
 
When the money starts to hit my bank account, I don't give a f*ck where gathered the assets from.

Ron 14's picture
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MinimumVariance wrote:Please, trying to gather assets at a social event is just completely inappropriate. How many doctors do you meet and they say "I'm a physician, a proctologist to be exact, and I specialize on that part of your prostate that's kind of oblong on the cranianium side. Next time your in town let me stick my finger up your ass".
 
LOL ! Totally agree! When I hear some schmuck talking shop or selling his craft at a social event I immediately think that he sucks at what he does.

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MinimumVariance wrote:Please, trying to gather assets at a social event is just completely inappropriate. How many doctors do you meet and they say "I'm a physician, a proctologist to be exact, and I specialize on that part of your prostate that's kind of oblong on the cranianium side. Next time your in town let me stick my finger up your ass".
 
If the doctors schedule wasn't full and they thought that the line would work, I imagine that most would say that.
 
At a social event, I'm not trying to gather assets, but I do on many occasions try to see who would make a good prospect. 

haulin79's picture
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Thanks for your input. I can totally understand that point of view.
 
I guess he could say "I'm a physician." and if I was looking for a doctor, then I would ask what he specialized in and then make it a point myself to get in contact with him later.
 
So in our field, what I am finding is that many people don't have a clue what "I'm a financial planner" means...I think it's too vague a title. Whereas most everyone has at least a little clue what a physician does. That's why I asked the question in the first place.
 
MinimumVariance wrote:Please, trying to gather assets at a social event is just completely inappropriate. How many doctors do you meet and they say "I'm a physician, a proctologist to be exact, and I specialize on that part of your prostate that's kind of oblong on the cranianium side. Next time your in town let me stick my finger up your ass".

haulin79's picture
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MinimumVariance,
At a social event where it was not appropriate to sell your craft, what do you say to someone that asks what you do?
 
MinimumVariance wrote:Please, trying to gather assets at a social event is just completely inappropriate. How many doctors do you meet and they say "I'm a physician, a proctologist to be exact, and I specialize on that part of your prostate that's kind of oblong on the cranianium side. Next time your in town let me stick my finger up your ass".

anonymous's picture
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If you are trying to prospect in a social setting, I think that it's more important to find out about them and whether they are someone with whom you would want as a client.  Let them talk about themselves instead. 

MISS JONES's picture
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jkl1v1n6 wrote: Miss Jones I notice your posts as of late have a little attitude to them.  I feel the same way, I'm tired of the bullsh*t, but you need to find your "happy place"  this last 18 months has been stressful for us all and have probably taken years off our lives.  I will disagree that this business we are in is boring and I know I'm definately not boring.  From what I read, you're not boring either, a little testy right now but not boring.  You don't really think the last couple of years have been boring do you?  I will also agree with half of Tenacious D, this may be a curse we are living in. 

You are right. I am normally the total optimist but this market hasn't allowed me that leisure. I am happy the market is ticking up but I feel it is a false start and so I am bracing myself the next fall. I haven't taken a vacation in two years. I felt bad about leaving my clients in their darkest financial hours to have fun on the beach or running around Europe. My pay has been cut, my hours have increased and I have lost tons of peoples money. That has to take a toll after some time. Now is that time.
I have taken it out on some posters here but seriously.. its the same story with new people asking the same sh*t all the time. I am just tired. Not just of those same ole questions but in general. I should be in a better mood in two weeks. That is when I will return from my first vacation in two years. I am so excited, but first I have to make some money so I can go..

I love Edward Jones and my job. I feel blessed to have the office that I do, the staff that I have and the clients that trust me. However, I am tired and need a restart.

Miss J

jkl1v1n6's picture
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I am with you 100%.  This has been a real drag.  I think we might all need a restart.  Enjoy your vacation!

HAAIC's picture
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MISS JONES wrote: jkl1v1n6 wrote: Miss Jones I notice your posts as of late have a little attitude to them.  I feel the same way, I'm tired of the bullsh*t, but you need to find your "happy place"  this last 18 months has been stressful for us all and have probably taken years off our lives.  I will disagree that this business we are in is boring and I know I'm definately not boring.  From what I read, you're not boring either, a little testy right now but not boring.  You don't really think the last couple of years have been boring do you?  I will also agree with half of Tenacious D, this may be a curse we are living in. 

You are right. I am normally the total optimist but this market hasn't allowed me that leisure. I am happy the market is ticking up but I feel it is a false start and so I am bracing myself the next fall. I haven't taken a vacation in two years. I felt bad about leaving my clients in their darkest financial hours to have fun on the beach or running around Europe. My pay has been cut, my hours have increased and I have lost tons of peoples money. That has to take a toll after some time. Now is that time.
I have taken it out on some posters here but seriously.. its the same story with new people asking the same sh*t all the time. I am just tired. Not just of those same ole questions but in general. I should be in a better mood in two weeks. That is when I will return from my first vacation in two years. I am so excited, but first I have to make some money so I can go..

I love Edward Jones and my job. I feel blessed to have the office that I do, the staff that I have and the clients that trust me. However, I am tired and need a restart.

Miss J If you're ever in Dallas, I'd be glad to give you a massage.

jkl1v1n6's picture
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Come on Ice, it's Monday morning and as men we're always thinking with the wrong part of our anatomy.  If it were coming from a guy he'd throw out the annuity bit. 

Bank of Amerrill's picture
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I usually say that I help people manage their wealth. It works better with high net worth people who dont really want to hear that you help people plan for retirement because they usually have more than enough and don't worry about retirement. It may be sound like a general statement but it always gets people to ask more questions.

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Bank of Amerrill wrote:I usually say that I help people manage their wealth. It works better with high net worth people who dont really want to hear that you help people plan for retirement because they usually have more than enough and don't worry about retirement. It may be sound like a general statement but it always gets people to ask more questions.
 
I have to disagree with this.  I have encountered a few people with net worth of $10MM, $20MM, and even $30MM.  They are concerned about their money lasting too, and more so their lifestyle.
 
When you have $1MM, you might have some nice cars.  When you have $20MM, you might have a private plane.  The only difference is the fuel. 
 
People of all net worth levels have some concern of running out of money.
 
Off topic a little, but I remember a study done that asked people how much money someone needed to make to consider them "rich".  They asked people making $50k, they said rich people make $100k.  They asked people making $100k, they said rich people make $200k.  They asked people making $500k, they said rich people make $1MM.  The point was that generally people think others are "rich" when they make twice what they do...it's all relative.

troll's picture
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.

bspears's picture
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I guess I'm the anti prospecting type.  I very rarely tell anyone what I do, if I can avoid it. The less they know the more they want to know.  My wife always says exclusivity and a bit of mystery draws people to you.  It works. 

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bspears wrote:
I guess I'm the anti prospecting type.  I very rarely tell anyone what I do, if I can avoid it. The less they know the more they want to know.  My wife always says exclusivity and a bit of mystery draws people to you.  It works. 
 
I don't think anyone in this topic is saying they are outright prospecting at say a c***tail party. 
 
It's just what to say when someone asks you what you do.  Obviously you aren't going to stand there like Helen Keller would and not say anything. 
 
But yes, exclusivity works.  Reference Bernie Madoff or any dude who's good with the ladies.

bspears's picture
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Oh..social gathering...is that like a church dinner or prom...I thought we were talking about a wine tasting or murder mystery dinner..country club social.  My bad...
 
Point is our industry, along with lawyers, are some of the least respected.  If I come out and say I'm a "Financial Advisor"...I already have an uphill battle.  Get to know me and the wife after a few c***tails and some good food, maybe a stogie and then when it gets around to what you do, they will open up and invite your opinions.  Otherwise the response is ..yah..the market sucks, my broker is a dumbass.  Where do you go from there..."Is his name Spiff?"LOL

Spaceman Spiff's picture
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And he responds, no his name is spears something or other.  You resemble him, but he's a good 30lbs lighter and has more hair. 

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anonymous wrote:If you are trying to prospect in a social setting, I think that it's more important to find out about them and whether they are someone with whom you would want as a client.  Let them talk about themselves instead.  I thoroughly agree with this post.  If they ask make a brief specialization statement, "I help build multigenerational wealth" or whatever and switch the conversation back to them.  Get them to talk 95% of the time and get their card.  Then you can follow up with a nice note.  I suggest the book Endless Referrals as a good resource for pressureless prospecting.

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I tell them I am an independent financial planner.  You can watch the news and find out why I am indy.  
If they tell me they are with a wire. I say so you are enabling them. Waiting for them to screw up again. So who is at fault the next time you or them?  

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bspears wrote:I guess I'm the anti prospecting type.  I very rarely tell anyone what I do, if I can avoid it. The less they know the more they want to know.  My wife always says exclusivity and a bit of mystery draws people to you.  It works.  Do you find that the local Dungeons and Dragons players have a lot of investible assets?I'm kidding, I'm kidding! Ice made me post that.

Ron 14's picture
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Greenbacks wrote:
 
I tell them I am an independent financial planner.  You can watch the news and find out why I am indy.  
If they tell me they are with a wire. I say so you are enabling them. Waiting for them to screw up again. So who is at fault the next time you or them?  
 
So basically you are lying. If some guy was an advisor at Bear Stearns or Merrill the fact that the company itself screwed up has nothing to do with the advice he is giving to his clients.

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I'm with Greenbacks.  I say, "I own my own independent and impartial financial advisory practice.  I have only one client--that is, my client.  Everything has come full circle in our business."  If that grabs their attention, they'll ask more.  But, try and turn the conversation back on them. 

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Soothsayer wrote:I'm with Greenbacks.  I say, "I own my own independent and impartial financial advisory practice.  I have only one client--that is, my client.  Everything has come full circle in our business."  If that grabs their attention, they'll ask more.  But, try and turn the conversation back on them. 
 
I agree.  As an indy, you can, and should, leverage that for all it's worth in this climate. 

haulin79's picture
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Soothsayer,
Please excuse my ignorance, I don't understand the " I have only one client--that is, my client." part. Please explain, sincerely thanks!
 
Soothsayer wrote:I'm with Greenbacks.  I say, "I own my own independent and impartial financial advisory practice.  I have only one client--that is, my client.  Everything has come full circle in our business."  If that grabs their attention, they'll ask more.  But, try and turn the conversation back on them. 

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I am not accountable to a branch manger, a regional manager, a divisional manager, a regional leader, an area leader, another general partner, god forbid some banker, worse yet a foreign banker, or anyone else--just my client.  Does that help?

haulin79's picture
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That makes perfect sense! I like it.

For me, I think my wife is the toughest boss/client I have, hahahaha.

InvestorTester's picture
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Soothsayer wrote:I'm with Greenbacks.  I say, "I own my own independent and impartial financial advisory practice.  I have only one client--that is, my client.  Everything has come full circle in our business."  If that grabs their attention, they'll ask more.  But, try and turn the conversation back on them.  Clever, smart. Separates you from the massive financial institutions that "so and so has said they've been reading about in the papers."

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I think the oversight at Jones is a good selling point.If someone asked to invest my money and told me he is the only one overseeing his actions, I'd tell Bernie to go pound sand.

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