kingbobby, im trying to figure out if my Senior is trying to screw me or not. Here is the basics. He is paying me a “training” allowance for about 6 months while I build a list of prospects and throw a few work shops and such. He said once I drop my salary we split each new account I bring in 60/40 and the assets go to my own book. My question is, while im making a salary (a small salary) should I expect to make a split of commission if I bring in a new account?? Or is it normal to not make any commission while you are getting paid salary?? I am trying to learn this as I go and make sure im not getting screwed!

Your boss is taking all the risk by paying you a salary. If I was him there would be minimum comp on new accounts unless you validate 150% of your base.

Thank you for the input njh at ifg. Anyone else have any insight??

What time have you guys found the best time to call?

I have been starting at 8:00am but I get a lot of VM prior until around 9:00 to 9:30. I was hoping if you get early enough, I’d miss the gate keepers but that isn’t working out the way I hoped.

I’m calling primarily residential and specifically retirees age 60+…I’ve found between 10-2 I get best contact ratios.

In the past week I have closed a $900,000 account and a $400,000 account. The $900,000 is for muni bonds and the $400,000 is going into fee-based. It was a great week. How is everyone else doing?

Been doing ok. Landed a 350k account this week but I had two appts this week, one with a 4m and 3m. Been rough lately, kind of been dragging a little bit. Only been making a 100 dials a day as of late. Phone is getting heavy I need a pick me up anybody got any ideas for some motivation? Been doing this about 6 months landed about 6M have another few million in the pipeline that needs to be closed. However my pipeline is pretty dry outside of that. I blame myself for this. I need to work harder but I’ve just hit a minor wall. Need some help.

Hello Registered rep followers,

Been away for a while…all’s good, been hammering away and happy to report back to HQ that the assets and more importantly, the momentum is there. Glad to read that the callers and business builders are doing well.

Amber_M has gone silent……come on Amber_Mmmmmmm a little something to keep us guys going……a little post with those pretty eyes……it’s lonely out there on the phone…….something.

I’m go to to post a new Rock’n”Roll Train Blitz by Monday morning, fired up and ready to post some good numbers….keep it tight ….I love reading your posts……the next blitz will be a killer…something to have a great Spring by…you guys are great…keep it up!!!
All The Best

All The Way

Im not sure if this is a common day for any of the bloggers on this thread but I wanted to share my day today. I actually cranked out 102 contacts generating 7 leads and 3 phone appointments for tommarow. I lead with a muni bond and took some of the guys on this blogs advice of just trying to open the account over phone. Ive sent information by email and will try to close on phone tommarw. I already qualified how much they’re willing to spend. I have no idea if I will get anything of closed business from today other than the satisfaction of just getting in at 8am and ending at 630pm while basically never leaving my desk or checking the market (because it is closed) I also used a different strategy of calling the business owners in the am till 930; 45 min after lunch and late from 4:30-5:45, then residential to hit the 100 contacts I also called residentials on the times between. I think by alternating the list it gave me umpf. I just thought to share this with everyone. I hope to keep ridingthe momentum the rest of the year. Along with everyone else whoes been grinding it out in here.

Teeks19,
You are a monster…100 plus contacts in a day…man, ain’t no stopping you. Seriously, keep us posted on results, they tend to follow effort pretty close.
Well Done,
All The Way

Interesting thread. I learned a lot reading all of that.

Im very new, finished college in June, Passes my 7, working on the 66 now…
I work for a family member right now, he is an IAR. Right now I am a part time assistant until he can justify registering me with the company required a minimal 50k/yr in production. Until then if I find clients, the business will go through him and he’ll pay me comp. I don’t go on very many apts yet, but I hope to soon, I mostly do scheduling, customer relationship mgt, paperwork, profiles, illustrations, stuff like that. He is independent and has a flexible schedule.

Besides my employer who is established and doesn’t do a ton of new client meetings, mostly continues to plan for with 400 clients and ride that wave, I have no one else to learn from in the same stage of theit career. Going forward I will be able to work with some of his smaller clients, and he has a 13mill pension plan that I can call for additional planning needs, so those will be huge helps. But I would like to get out there and find clients of my own too…

Because of the nontraditional setting and the way I am getting started, I am asking for a little advice on how you all started out…I already have been in networking groups, chamber of commerce, stuff like that.

How did you first learn what to say in an inital meeting with a prospect?

Also can someone please explain “pipelining”? I would like to start cold calls, but don’t know where to start or what to say.

What is your method and the timeline of your calls? Messages? Call backs?

Any advice would be greatly appreciated.

Hello SuperStar,
How are the crème de la crème of business builders doing/ I’m doing great. Picked up 7M so far this year and going full blast.
Been dong a lot of diferent activities.

Been doing all kinds of different things to get business in.
Took a page from a buddy at EDJ and went door knocking close to my office, mainly focusing on homes on the DNC as they don’t hear from anyone.

If they got kids, I drop off a report on Disney, call them the same evening, pretty amazing how easy to get a meeting.

Also, got some client appreciation diners going, sending out 2 tickets that look like ticket to a concert, send 2 for clients and 2 for clients friends,been working great.
Also been hammering the phones, as usual, it works.

Really got the wave going, tons of pipeline and happy with the process, not letting any of the greens go yellow and moving the yellows to green, drip, drip, drip.

I miss ya all at lot, haven’t been around much, but do enjoy the hunting, keep us posted on what you guys and gals are up to….this site rules.
All the Best,

All The Way

Kelcied123,

Just read your post. Looks lie a decent set up. If possible, sit in on those meetings, take notes, find any excuse to get in to learn. The family member will probably say yes.

As for pipeline, pipeline is lifeline….the key is to understand the process. First call….they really don’t know you from a whole in the wall, then drip by email or post, then follow up by phone, dig deeper, so what are you working with, got some ideas, will get back to you. Then hit them with something real good, well know, and visible, say Disney…listen for their feedback, if they are close to your office, say, you know what works best, we get together, have a look at Disney and see if it fits into your long term plans, if so….great, if not, then lets focus on what does, fair enough?

Don’t judge results on first, second, third contact, as long as the relationship is moving forward, you are on track……start with that……, because pipeline is like having inventory……also good to have it.
Keep us posted,

All The Way

Thanks for the response all the way. I will begin in January after I take the 66 and get registered.

Until then I will keep learning and try to get in on some meetings!

hello everyone!

I’ve been in the business for about 8 months. haven’t done any straight cold calling yet. I’m curious where you are getting your lists from? My firm has pre-approved companies but I can only get about 2500 leads. my area has a population of about 200k. Im thinking that when i start to cold call those 2500 leads will go pretty quick and Im looking for different avenues to get more leads. any tips are much appreciated. Thanks!

kelcied 123

You want to be calling as many people as possible. Get your face out there! Your pipeline is the list of contacts you plan to call. The after hours networking can be helpful but dont count on it. Use that to develope your communication and people skills. Most people at those events just want to sell their products too. Call your natural market first then start cold calling individuals and businesses. You first have to learn what your pitch is when you call people. This is a useful website.

Thanks Donbateman, good advice.

The pitches here seem to be oriented towards selling a certain stock or bond/munis. I will start working on pitches, but it will be something more broad.

What process do you use when calling? How many times do you call without message or before giving up. Do you keep track of names you don’t intend to call again?

The advisor I work for doesn’t do cold calling and so I don’t get much guidance in that area. He did 20 years ago, but now works with his current clients and gets a lot of referals.

Kelcied

Pitching with a particular product is good because you have something specific you want to talk about, But some people dont care or know what the hell a muni bond is. They dont know preferred stock from livestock-Gordon Gecko. So you have to pitch to the everyday person. If you are calling qualified referrals that are experienced investors use a product. I use to call and say my office is hosting a workshop on retirement planning at the local library in 2 weeks and there will be food and drinks you can bring 2 friends. Make sure you know the venue you want to host at is available. If you get enough people that want to show up call and reserve the room. Some people will say I cant make it that night, then you say ok well we host events like this fairly regularly so I will keep you in mind for the next one. Then call them back in a month and say there is another. If you get one person that sounds interested keep calling them every few weeks until they tell you to stop or till they say ok ill meet with you. If you dont get a ring try maybe 2 more times then move one, depends how many numbers you got.

where are you guys ordering your lists from?

Thanks, thats a good idea to event them to an event, everyone likes free stuff .