When you build your business don’t you want to know what your workign with? What if he transfers in a bunch of crap, the market tanks, and he blames you even though you told him to sell.



Even though I have been at this awhile, I know everything coming in. In fact to process a transfer I need a statement, you don’? If there is something I don’t like being held I talk to them about dumping it.



If you want the business don’t act like a desperate rookie. Ask for their current statement, do a fact finder, and set up a second appointment. At the second appointment make a proposal and have the paperworkl ready, assume the business is yours, they have taken the time to meet with you twice so they are not happy you do not need to dwell on that. If they seem anxious transfer t he account and tell them at our next meeting I will have a proposal for you. This is how I run my biz and and my book is growing and GROWING.

[quote=Bobby Hull][quote=pratoman]

Bobby, you complimented the guy. I can't believe it! I have a newfound respect for you.

Compliments to you, for being UN abrasive. (I'm figuring that will elicit an abrasive response, but thats truly not my intention. Your complimentary post was actually refreshing.)

[/quote]

I didn't realize that one small act of kindness and senseless beauty would be so far reaching.

[/quote]

See, it pays to be nice, Bobby! And that lunatic on the other threads thought we are the same person, what an idiot!

Well well well

looks like prato man has definitely changed his mind about his devil bro: here's what he thought about him, before:

Unlike <?:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" />Hull the troll, I work for a living. <?:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />

f**k himm. Lets get everyone on the boards to gang up on him. (yeah, the cyberbullies are good at ganging up, aren't they!)

......

He should be banned. He distracts from the real purpose of the boards. And he riles up type A's like myself. If I met him face to face, I would beat the sh*t out of him, then spit on him as he lay there holding his balls. He would be Clarice, and I would be Hannibal Lechter.

Ok, gotta go, onto the boards to see if that motherf**ker is trashing me again.


Suzie is not only a lesbian, which is fine, she is also an idiot, which is notShe is an idiot, almost as dangerous as people like Bobby, who sells Equity Index Annuities with big expenses and loooonng surrenders, with little upside, and no downside, but only if you dont die before the surrender period, to little old ladies.

Alth0ough I must admit, he seems to be softening up a bit on the boards.

But he's still a dick.

As far as getting Joedabroker on my side, no need. I really try not to even get into the bashing bulls*t,  (oh really! you could have fooled me!!!!) its just sometimes, when I run across a guy like Hull, I cant help myself.

I am also not bothered by people who use more than one screename.  (oh really!)

There would be no reason for me to post your PM's on the board. (oh really!)

[quote=ManagedMoney]

[quote=Bobby Hull][quote=drewski803]

Hey guys, what do you guys do when you run across a wirehouse client?  I have typically asked them something to the effect of "well how has that worked out for you?" and I always get a "I'm satisfied and not looking to switch, etc" type answer.  In fact, I've never actually ACAT'd another broker (all my clients had either cash or rollovers).

What do you guys do to win these accounts?

[/quote]

"Do you pay your broker a fee, every single quarter, win or lose? I'll bet it wasn't YOUR idea, was it? I don't charge those extra fees and my clients have more than doubled their money over the last 4.5 years. Do you have an interest in taking a closer look?"

That's about it.

[quote=bankrep1]When you build your business don't you want to know what your workign with? What if he transfers in a bunch of crap, the market tanks, and he blames you even though you told him to sell.

Even though I have been at this awhile, I know everything coming in. In fact to process a transfer I need a statement, you don'? If there is something I don't like being held I talk to them about dumping it.

If you want the business don't act like a desperate rookie. Ask for their current statement, do a fact finder, and set up a second appointment. At the second appointment make a proposal and have the paperworkl ready, assume the business is yours, they have taken the time to meet with you twice so they are not happy you do not need to dwell on that. If they seem anxious transfer t he account and tell them at our next meeting I will have a proposal for you. This is how I run my biz and and my book is growing and GROWING.[/quote]

Thanks for the advice however coming from a bank rep, everything "you guys" have to say I take with a grain of salt. You're growing your business everyday? I would hope so, sitting on hundreds of millions in bank deposits.

Look, assuming you're talking to me please keep in mind that this was my first ACAT. In the future I'm sure I'll become a bit more polished in determining what is being transferred in but what is the point of making a sell/buy recommendation when you don't have the account yet? What's to stop them from saying, thanks for the free advice and processing the trade at their discount broker or with their 401k administrator? At the very least its good to know how bank guys are running their business. I'll see if I can incorporate that into a traditional brokerage format.

[quote=drewski803]

Hey guys, what do you guys do when you run across a wirehouse client?  I have typically asked them something to the effect of "well how has that worked out for you?" and I always get a "I'm satisfied and not looking to switch, etc" type answer.  In fact, I've never actually ACAT'd another broker (all my clients had either cash or rollovers).

What do you guys do to win these accounts?

[/quote]

Being at a wirehouse, and having taken ACATS from other wirehouses many times, I can tell you, in my experience at least, the biggest reason they sign the acats is lack of attention.

I think thats the best hot button you can pound on.

[quote=AllREIT] [quote=ManagedMoney] [quote=Bobby Hull][quote=drewski803]

Hey guys, what do you guys do when you run across a wirehouse client?  I have typically asked them something to the effect of "well how has that worked out for you?" and I always get a "I'm satisfied and not looking to switch, etc" type answer.  In fact, I've never actually ACAT'd another broker (all my clients had either cash or rollovers).

What do you guys do to win these accounts?

[/quote]

"Do you pay your broker a fee, every single quarter, win or lose? I'll bet it wasn't YOUR idea, was it? I don't charge those extra fees and my clients have more than doubled their money over the last 4.5 years. Do you have an interest in taking a closer look?"

That's about it.

[/quote]

If I was the client, I would reply back and say, "it's not the frequency of fees that matter, it's the total amount of fees that matter....so tell me, what are the total fees that you charge, and how does that compare to what I'm being charged now?"
[/quote]

Annuity shark: Its probably the same or more than you are currently paying and I'll lock up your assets with punishing surrender charges. Does your broker do that? [/quote]

This is really a touchy subject for you, isn't it? How much business have you lost to annuity salesmen? Here's a tip for you...figure out what people REALLY want and sell it to them.

I do not take bank deposits, maybe 3-4% of my biz. I am viewed as more of an independent advisor would be. Most of my business comes from ACATS and 401K rollovers. My situtation is unique, it took awhile to get where I am.