[quote=bankrep1]Dude, I am not at a bank, haven't been in years although I hear they are a decent place to work if it's a small community oriented business focused type of bank. I work in a niche market (guess?), and I would not work for 35% unless I did 0 prospecting. No I didn't do 80K this month, but neither did you. Didn't you just start there like a month ago? Are you sure you didn't add a zero and do really 8K this month?

I am sorry to hear you got crappy referrals problem was self inflicted, did you tell them what to look for? and told them not to send you crap because that is not what or who you help. [/quote]

I never wrote I had a crappy referral problem....maybe you need to go back for a third degree to get the reading comprehension down?

In fact, I said that the quality of my current referrals are better than the quality at the bank.  I get people who know what they want already (mostly) and have expressed a definite interest in my knowledge and product.  My time is spent educating and exploring wheter the product is a good fit or not. 

I've already done $61,000 of my $80,000.....as long as the client doesn't excercise his 'free look' then I'm in like flynn. 

I can understand how you would have a hard time confusing $80,000 for $8,000 since you have clearly demonstrated your inability to read.

So if you're not at a bank, where do you work (if you say 'credit union'....whatever man)?

Anyway, I will trade $80,000 at 35% over $40,000 @ 70% (closer to real payout at an indy when considering overhead.....albiet a little high) for the great hours I work (40 a week), ability to be with my family more (I have two kids under age 6) and extremely low stress environment. 

One absolutely has to consider quality of life when choosing a path to follow.....right now being a good dad, present for my little girls at a time when they need me around trumps any ego centric need to be a 'big swinging d*ck' or prove myself by 'building it myself' and getting 100% payout (or whatever).  I respect greatly those who have and will listen to their advice, awaiting to apply it when the time is right for my family.

If I were to look at the world in the jaded way you seem to I'd say that brokers working 70 hours a week doing $40,000 a month at 70% payout are getting raped relative to me.  I get paid the same for working 40% less hours with probably 80% less stress (compared to my wirehouse days).  That extra energy goes where it belongs most...with my children.

I'm sorry that you have such a narrow perpective and narrow mind bankrep1.

[quote=dude]

I work at a firm that gets a lot of call ins because of an exceptional marketing process.  We are leaders in our particular 'niche' which focuses on fixed annuities marketed to people who are looking specifically for fixed annuities (in addition to SPIA's etc...). 

I can also sell life insurance so I am using the opportunity to give advice to many people who are interested in passing assets on to their heirs in the most tax efficient, cost effective way. 

Yeah, it sucks that I only get 35%, but I have neither the capital or competitive position to pull in this kind of volume.  Plus I'm hoping that in a couple years I can branch off my efforts here to expand back into a more traditional 'advisor' role.....although I have to admit that having a product focus and specializing is a hell of a lot more productive than being a generalist like I was.  I think I will specialize in some aspect of asset managment...maybe working with convertibles and/or some unique investment process.  I also think I'll start working on my CFA within the year.

I am in a good position because all I have to do is focus  on profiling the prospects (for suitability of course), educating and closing sales.  I believe this will help me hone my pitch and develop a better sales aptitude.  It's also nice that everybody I talk with during the day is an interested (most are also qualified too) prospect.

That being said....I might only do business with one to two folks for every 10 to 15 I speak with since some are not suitable for the product or just wanted to learn a little more etc....

Now before I get the vultures swirling about being an 'annuity salesman', I will say that I am very dilligent in turning away folks who are not a good fit for an annuity.  Plus annuities, like all invesmtents have their appropriate place.  I'm not here to get into a debate about annuities.

Also the $80,000 month is a large month, but I'm planning on doing some marketing that piggybacks off of the existing system to try and make that a common month. 

[/quote]

Dude, do I have this right, you've produced $80,000 this month and you're going to take home 35% of that? If that's right then your income for this month is in the region of $28,000? That would be $28,000 for one month's work? And there are people here taking you to task for that? I don't get it. 28 grand is a lot of money.

How long have you been doing this? And what do you see as an average month going forward?

I've been here a Couple months. 

Average month over the next year I'd expect to be between $15k to $20k with bigger months sporadically.  This is assuming that I rely on the house leads.  We just had a lady in our office that grossed (income) $109,000 as of September working about 30 hours a week.  She's been here about 3 years and has relied entirely on the company leads.

Right now I am not prospecting, but am thinking about ways to build off our platform and do some additional marketing.  Currently I have quite a bit of free time to allocate towards marketing but am not exactly sure how to do it...yet.

Oh...and yes you have the figures correct.  I'll probably land between $80k and $90k this month, although it is an unusually large month.  So far $61,000 has hit my commission blotter.

[quote=dude]

Oh...and yes you have the figures correct.  I'll probably land between $80k and $90k this month, although it is an unusually large month.  So far $61,000 has hit my commission blotter.

[/quote]

Great job dude.  

Thanks Mike.....I'm quite blown away to be honest.  It feels good to start making a nice income while lowering stress and increasing quality of life.

None the less, I do miss stockbrokering.

I did 80K this month, yes I mean 61, but normally I’ll do 15K. That is like saying I am a clerk but one month out of the year they let me be CEO, c’mon.

Oh yeah if you taught your bank platform that you only deal with people who have over 100K or 200K properly how woul dyou ever get crap leads…answer: you wouldn’t

Congrats on your month, dude. It’s good to hear you’re doing well with

your new firm.

[quote=bankrep1]I did 80K this month, yes I mean 61, but normally I'll do 15K. That is like saying I am a clerk but one month out of the year they let me be CEO, c'mon. [/quote]

You must have low self esteem issues bro, it seems like you really get your energy from sh*tting on others......are you becoming the new Forum Troll?

I have never claimed to be a rock star.  I merely mentioned my production to illustrate that there can be life after a wirehouse or 'failing' out of the business.  You were the one with the jaded attitude.  It will be over $80k because one sale is still in it's 'free look' period, which expires in a couple days.  Then I get credited.

You really can't read, can you?  I mean, I expained this in clear terms above that I'm using other's averages and that I'm going to market and build off an already excellent platform.  I'm doing that kind of production just focusing on annuities and in house leads....I've already started to 'upsell' prospects on setting up permanent life insurance to take care of estate transfer etc......right now I'm working on almost $5 million in death benefit on some UL policies.  These activities, I believe will help me exceed those numbers I posted. 

[quote=bankrep1]Oh yeah if you taught your bank platform that you only deal with people who have over 100K or 200K properly how woul dyou ever get crap leads.....answer: you wouldn't[/quote]

Try Hooked On Phonics bankrep1......I'd try to get your money back on those two degrees. 

[quote=bankrep1]vbrainy if you re-read what you wrote you're not very clear. I know what my firms guidelines are I was asking what your firms were. Whose the idiot I cannot understand your english, I have two degrees I know how to read.[/quote]

Let's give the guy a little refresher.....

[quote=dude]

I never wrote I had a crappy referral problem....maybe you need to go back for a third degree to get the reading comprehension down?

[/quote]

[quote=dude]

I've been here a Couple months. 

Average month over the next year I'd expect to be between $15k to $20k with bigger months sporadically.  This is assuming that I rely on the house leads.  We just had a lady in our office that grossed (income) $109,000 as of September working about 30 hours a week.  She's been here about 3 years and has relied entirely on the company leads.

Right now I am not prospecting, but am thinking about ways to build off our platform and do some additional marketing.  Currently I have quite a bit of free time to allocate towards marketing but am not exactly sure how to do it...yet.

[/quote]

Where is here.  Sounds pretty good to have leads generated for you.  Is it an insurance company>?

Here is a small, fixed annuity focused insurance broker that has a pretty robust marketing platform.  We do business with both the public as well as contracting other agents who would like to access our companies (we represent well over 50 carriers).

Yeah, it's pretty nice to be calling on warm leads for a change.  It's also nice to never have to explain to clients why their portfolio is down or fluctuating etc.....Although I miss advising, I still find ways to build off of the annuity inquiry and provide value added advice. 

In a handful of circumstances I have helped guide folks in finding a primary advisor. 

That is after I've invested every last penny they have into a 15 year, 20% surrender, high upfront bonus annuity of course......

Oh, that pays me 10% too!!!

Just kidding of course (unless it's suitable ).

[quote=dude]Oh, that pays me 10% too!!![/quote]

You only get 10 points on a 15 year product?

dude, honestly I don’t think that is very funny.  Many new people read this site and they might actually think that it is OK to steer your clients into one product over the other for the commission you receive.  Versus what is best for the client.

OK vbrainy.

disclaimer:

Buyer beware...my posts are often served with a hearty helping of sarcasm. 

Signed: dude

C shares are a rip, and you guys know it.

Everyone uses them though.