Thursday, March 3rd

278 Dials

34 Contacts

2 Prospects

5 Pipeline Prospects

1 Call Back

...alot of people showed good interest in our conversations, but a lot of $ was tied up.  Will follow-up with my pipelines in about 3 or 4 weeks to check in on their situation.

Friday, Maych 4th

251 Dials

29 Contacts

2 Good Prospects

1 Pipeline Prospect

--apologies for the late post, was in a rush to go drinking after work on Friday...my contacts are way up, resulting in my dials being a little lower, but I've also been stuck in numerous meetings per day which cuts down on my calling time...I usually like to keep a minimum of 300 dials per day.

--I believe my manager and myself are going to be trying to close some accounts this week, so I will keep you guys posted on how that goes.

hit dem phones!

forgot to mention, any accounts that I lock up and state on here will be from prospects generated from cold calls on this thread, this way people will be able to (hopefully) see that cold calling works and use it as a motivating factor to get on the phones.

remember, I'm pretty much a rookie when it comes to cold calling, so if I can do this, certainly other can too.

Great day on March 4th Com, congrats!

You are already motivating me for this week.  I came in today kind of grubby but now I'm pumped as I see my colleagues like yourself are pushing forward.

Thank you.

[quote=newregrep]

Great day on March 4th Com, congrats!

You are already motivating me for this week.  I came in today kind of grubby but now I'm pumped as I see my colleagues like yourself are pushing forward.

Thank you.

[/quote]

Glad to hear that!

Thats why I wanted to do this, to motivate others as well as myself

Monday, March 7th

235 Dials

35 Contacts

4 Good Prospects

5 Pipeline Prospects

Dials were down because I had a lot of long conversations...happy pulaski day to me.

Another awesome day, what is your closing rate so far?

Haven't closed anything just yet, nor have I attempted to yet, but have multiple opportunities toward the end of this week, will keep everyone filled in.

Got a hot prospect today: hour and a half initial cold call, just talking the markets, and completely drilled him with questions the entire time, he talked most of the time off my questions and gave me a lot of openings to close on...we're meeting on Thursday morning and I'm going to walk him through some different strategies that he expressed a lot of interest on the phone toward.

and...I've changed up the script, I simply introduce myself and my firm, and then just ask tons of questions...

are you in the markets right now? have you traded in the past? which markets have you been involved with? what types of strategies have you used towards those markets? have you had success with that in the past? what did your previous broker have you doing? is your portfolio correctly allocated? etc etc

THEN....

a good appointment setter...

As you may know _____, right now we are in some unchartered waters with the multiple rounds of QE the fed has been putting out, and this type of activity can make the markets very volatile.

In a volatile marketplace, a solid approach would be to utilize a margin of error in your trading...would you agree with that much?

Giving yourself a margin of error, we can establish a position in the market, and if we are wrong on market direction, we STILL have the potential to be profitable, AND we can establish our worst-case scenario ahead of time.

Now, do you think this approach is suitable for a volatile market, much like what we have seen in recent years?

Let's do this ______, next time we speak, we can walk through how we can use this margin of error together in a market of your choosing...do you have a time later in the week you would prefer?

Would like to hear everyone's thoughts...

Tuesday, March 8th

227 Dials

26 Contacts

2 Prospects

1 Weaker Prospect

One of my prospects was excellent, will try to close when we meet on Thursday morning.

You are going to have a problem if you don't qualify for the investment amounts. Small amounts with a lot of dials is going to put a damper on your efforts. 

Good luck to you and keep us posted. 

[quote=Otane]

You are going to have a problem if you don't qualify for the investment amounts. Small amounts with a lot of dials is going to put a damper on your efforts. 

Good luck to you and keep us posted. 

[/quote]

Qualifying is a bit different for managed futures...the minimum on the programs I work with his 25k, which would net you about 400 per month, 4800 annually...and I qualify for at least that amount.

I also work with a tiny one, but not as much, that has a minimum of 10k which would still net you a few hundred per month, few thousand annually

Also, with a managed futures program, you act primarily as an asset gatherer...once a client enters a program, there is zero maintenance to do yourself.  The program's managers/assistants then service the account, and you could paid transactionally on what they do for as long as they're in the program.

For you guys that are indy, I would seriously consider getting a series 31 and implement managed futures with your clients if it fits their risk tolerance and you can find some good managers.  There is a lady at my firm that makes well into 7 figures per year, 6 years in, and all she has done is raised assets for managed futures.  Because she just raises the assets, she makes her own hours, vacations when she wants...you get the point haha

the f'ing phones are down in our office so another thought to you guys possibly looking at managed futures...

as I mentioned before we also have the RIA side of our business which focuses on modern portfolio theory asset allocation. 

Given that you make 1-2% gross off these and your average account is 150-250k, it may not be too attractive.

Now, with those clients that we have that have a more aggressive investment taste, we will allocate 5-10% of their portfolio to a managed futures program of their choosing(we have 5 different ones, all different strategies and different levels of risk). 

I would say a minimum sized portfolio to include managed futures would be 200k...so with this minimum amount, lets say you make 2% gross per annum off that 200k...thats about 4k yearly gross, 1500-2k yearly to you depending on your payout.

Now, incorporate managed futures and put 25k of that into a program...you'll prob make 3500 gross per year, maybe 1000-1500 net...BUT, you'll also make another $10,200 gross of the managed futures, netting you another 4k per year figuring a 40% payout

Now, I understand you guys at a firm might not be able to raises managed futures assets, but you guys who are indy most likely can.

food for thought....

I have been thinking about series 31, I know MSSB requires the newbies to take that exam now to do what you're currently doing.

I'm more of a bond, EIA, equity linked-notes guy.  I'm fine tuning my pitch right now to some how include the word FDIC insured in there.

But I will definitely keep an open mind to your advice and speak to my manager.

When you focus on what you are making and not your clients it's a sure recipe for failure or litigation.

Not that I understand what you are doing, I'm a Jones broker

[quote=SuperMan]

When you focus on what you are making and not your clients it's a sure recipe for failure or litigation.

Not that I understand what you are doing, I'm a Jones broker

[/quote]

As I mentioned in my previous post, people I put in only managed futures programs are not my clients, they are clients of the CTA(commodity trading advisor) who manages the program, and because I introduced that money to the account(and any other additional deposits after introduction) I take in a cut of the transactional commission from the program...in this aspect I am purely an asset raiser.

I could def understand this being the wrong mindset if I were working with my clients one on one as a planner/advisor/broker...but as purely an asset-raiser that will not have future contact with the client after opening, I think its an ok mindset to hold...

So client has 200k, you "raise" 25k for the CTA, what happens with the other 175k?

[quote=SuperMan]

So client has 200k, you "raise" 25k for the CTA, what happens with the other 175k?

[/quote]

Goes through our asset allocation program...spread across 18 different ETFs and different types of fixed income that our portfolio manager oversees.  This type of account I would manage along with the portfolio manager, but, I am not licensed for it just yet, which is why I am only focusing on the futures side of the business right now.

Com,

I think you'll start closing soon.  As the pipeline gets full I believe it's evitable you'll close 10% of your current prospects.  That's the number for me so far.

This is my 3rd month into production now, I have 2 appointments friday for a total of 500k.  That should put me at 1.4 million assets under management.  Not fantastic but I'm keeping float.

Keep pushing !

[quote=newregrep]

Com,

I think you'll start closing soon.  As the pipeline gets full I believe it's evitable you'll close 10% of your current prospects.  That's the number for me so far.

This is my 3rd month into production now, I have 2 appointments friday for a total of 500k.  That should put me at 1.4 million assets under management.  Not fantastic but I'm keeping float.

Keep pushing !

[/quote]

Thats awesome...I would think 1.4 mm in 3 months would be real good...almost 500k in new assets per month. But, then again I am fairly new to the planning side of the industry so I really don't know.

Anyways, I have numerous meetings and closing opportunities tomorrow and Friday so hopefully I can get an account or two through.

Wednesday March 9th

150 Dials

20 Contacts

1 Prospect

1 Pipeline Prospect(pretty good one)

--phones were down for awhile today, and had to go to the doctors for a few hours in the middle of the day, along with an hour long lunch trip slowed down my momentum a lot...hopefully this type of day doesn't happen often.