24, it's okay if you don't get it.

[quote=B24]

[quote=tenthtee]

24, squirtguns, really? They're called purchasing agents. You guys go for it.

[/quote]

Or buyers.  Which is exactly what everyone is. 

I have heard of people disagreeing with cold-calling, but you are taking this thing to a whole new level.  I just don't understand your disdain for BG.

[/quote]

I'll bet an entire dollar, they're brothers.

Tenth, you seem to have many issues with an industry that has made you rich. I can understand that, as i have issues with the industry as well. Past the indentured slave labor of using trainees to enrich big teams though, we have only one thing in common. We feel the same way about inherited accounts.

Allreit was shown the door here because the mods finally tired of his out of control rants. Sometimes it was fun to read, but usually, way too far over the top.

Sorry,  I don't believe you about the assigned accounts.

I agree, it's easier to try to impress your dog than to take a controversial stand about cold calling on the RR forum.

[quote=tenthtee]

24, it's okay if you don't get it.

[/quote]

Thanks for the affirmation.  My day is complete.

[quote=tenthtee]

Sorry,  I don't believe you about the assigned accounts.

I agree, it's easier to try to impress your dog than to take a controversial stand about cold calling on the RR forum.

[/quote]

There's a big surprise!

You lost me on the dog comment.

Tell ya what, instead of spouting off about how you wish the industry would change and develope a "more professional" marketing program for rookies, why don't YOU start a thread in the rookies forum about social prospecting. Give them the White Paper on how to build a business from the ground up, from day one, using Country Club membership or what ever social prospecting means you would recommend. Keep in mind the elimination hoops set  by the industry as the trainess progress in that they have to meet those standards or they are out. Instead of whining about things, change them. Show rookies the way. And, as long as you don't go negative on alternative marketing channels I'll stay out of the thread.

You have a strong opinion. And, even though i disagree with some aspects of your opinion, i don't totally disagree with you. This place is suppose to help people. You've done it, you've succeeded. Give back. Show rookies the way. Show us whatchagot!

Thanks for the invite BG. Sales is about being positive.

I came here to find a few folks who want to compare notes on social prospecting, and ended up challenging the wirehouse coldcalling model - which is a tiresome exercise after a couple of decades of witness. My business was started with calling "leads", where the prospect had requested info off a mass mailing. These were still mostly cold and invasive, and pretty much set up the dynamic of broker chasing prospect. It was a way to learn the business, and if you got lucky, some guys got a few fish that were big enough to eat and survive. I totally respect the guts and sweat equity of cold calling. Many brokers around me were PC and got the blowout accounts, I am self made and went independent, and went to referrals and marketing as soon as possible.

I only found one poster here who seems interested in alternative. As far as the wirehouse, this became personal and I guess you became the poster boy. I believe the economics of the accretion of the labor of rookies cold calling pretty much speaks for itself. A business owner once reminded me, you cannot serve two masters. The economics of the cold calling model is being severely tested, but I can see it is still profitable.

Therefore, I believe you may be right in your implied claim that this is a cold calling forum. Sales is about affirmation and activity.

Someone just posted that getting clients is about introductions. Right on. A numbers game, in that sense. Obviously, it does not take a lot of money to get out of the office and meet people, just imagination and confidence.

The biggest impediment is the structure of the trainers - people with capital to hire - and the conflicts of interest around the accretion of rookie labor. Wirehouses are going more to the team model, RIAs are hiring Jrs., and independents are growing, but many of the "planners" are growing old, and should be mentoring the next generation.

Mainly, if I was a young person coming into the business, I would be very careful about where I signed on - learn the business and make some money before worrying about having your own book. Great claims are made about how much money you can make in this business, but many are disappointed.

As for comparing social prospecting techniques, systems, and success, I have been trying to ramp up my own client aquistion as I am quite comfortable but will need to grow for the next decade to achieve my personal goals. Also, this is an exciting business and should be a great time. There is so much bad news built into the market, America is like a coiled spring that will be unleashed, and people need our help and we will be well paid.

But I'm just a solo shop owner, also in the sales business, and need to stay positive. So I'll keep implementing my plan, which has more to do with small educational lunches than golf, and best case I'll take on an intern in the coming year, to give back and walk the talk. Like the man says, it's about introductions. And staying positive.

I think we've covered the theoretical ground and everyone will do what is best for themselves to stay motivated. I'm not sure this is the best venue for me, but I'll check back and see how it goes here.This business is about leadership, what we do for our clients. And change - in the sense that having all of those Ed Jones shops around everywhere probably generates stronger branding, trust and walk in business - if every advisor (could) stop cold calling tomorrow - if the wirehouses let them - it would likely lift all boats. There is no surplus of good advisors.