[quote=Gaddock]

Chris,

1 AGE is the symbol for AG Edwards, generic call is the call they teach you in training.

2 My first call is to get permission to send my card and make future calls but if its an elderly woman I tell her what our best CD rates are or the like to see if I can get her to talk. Subsequent calls are with a product that I think may be their hot button and to set an appointment

Malcom,

A reverse phone directory list people in order by number or by street address etc. Chances are you will see a big thick book in your office that is the POLK directory. Basically Sales Genie is Polk under another name utilizing the same functions plus a lot more.<?:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />

Bornagainbankr

I could have worked at a bank. Better yet I had an offer from Allstate as an EFS. I want more than a job working for somebody else and simply brining home a paycheck. I want to build an empire that’s mine. Something I can pass to my children. Like most things in life you get what you pay for. Go ask Merrill how much they will pay you for your book.

I had a great week. I graduated from training at the end of July. So far in August I’ve written 19 tickets and have just over $6k in gross. My manager is a very happy man. I have $50k I'm waiting for from a annuity (index annuity bought 8 years ago from a ‘bank broker’ the “meathead” put the annuity into a IRA and made the beneficiary the estate even though the guy has been married for 40 years. I took it by agent of record as well as the other $300K plus from BAC) it is only paying 3%. They guy doesn’t care about the surrender charges. Even the thought of that annuity ticks him off. We have agreed to put the proceeds into a UIT blend. That will put my gross up over $7k. I’m hoping for $9.

I'm trying to get my call volume up and manage my time much better.

[/quote]

Well, I applaud your desire.  Not sure how long you can last.  Seriously, you sound like many others who meant well, but burnt out.  I am telling you this just because i have seen it happen.

Do yourself a favor, build a fee based practice.  If you are taking all upfront comissions, you will have a good start, but fail in the long run.  A transactional book with all A shares is not worth very much.

Are you an asset allocator?  Good luck, but take a longer term perspective.

Hello Vbrainy,<?:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />

I’m far more concerned about starving out than burning out. I have built two other small businesses. One a failure, one was successful and sold for a pretty penny. Both required the same amount of time and commitment to get off the ground. The salary I’m receiving leaves me on a burn rate. I could have got a bit more from the other firms I spoke with but not enough to make a difference in the long run. I went with AGE for local opportunities that existed in the branch I’m in and a 120-year-old firm with a stellar reputation. Fee based business and a partnership were part of the long-term business plan.

Enter the “merger” and all has been turned upside down. I have had to rethink my entire strategy to not find myself stuck in the mud with my pants down in the mid term future. WB has not made me feel warm & fuzzy tp present.

I’m thinking firms love fee-based business, as it’s much harder to ACAT than a transactional relationship. That would be another reason WB is hot and heavy on teams. You get involved with a team that has a fee-based book and the strings have turned into chains. The “it’s your book” shtick is nothing more than lip service IMHO.

That being said, my current train of thought is to build a transactional book heavily utilizing UIT’s where appropriate. If I can crank out six figures in TTM commissions in my first year I believe my options will be multiplied and offer a new set of options that currently don’t exist. The contracts I have seen for a new FC just out of training vs. one with a good solid year under his/her belt greatly differ.

I’m forced to make a change that is beyond my control (WB/AGE “merger”) so I’m thinking I’ll try to leverage the best possible options with this strategy.

Any thoughts on this would be appreciated.

Yes I believe in Asset Allocation. My personal preference would include strategic allocation models with a satellite that is as opportunistic as the clients risk aversion will allow.

Yes I believe in Asset Allocation. My personal preference would include strategic allocation models with a satellite that is as opportunistic as the clients risk aversion will allow.

Just out of curiosity- I am 35 and come to you a 20 year timeframe, an aggressive investor, looking to put $250K to work from cash. Taking lets say 80% and investing in the usual Large Cap, small/mid, International, and a slight amount of fixed income... Where would you put the remaining 20%?

Just interested to see what tactical ideas you would recommend...

Blarm.  personally, I use Morningstar software and build a portfolio with globalization, mix between growth and value, then rebalance annually.  The morningstar software is very good and if you use good mutual funds you will do well by your clients.

Gaddock, the buyout probably does stink for you.  I think you are very wise seeing that teams can be chains.

And numbers DO talk.  High revenue floats alot of boats.  You still may well be at a good firm to build and stay. 

Noone can tell you how to feed yourself and your family.  Unlike others here, I assume you do the best for your clients.

As soon as you do hit your number, start wrapping EVERYTHING you can.  C shares, fee based, UITs whatever.

Good luck.  I think they got a good one in you.

IGNORE the idiots here on this forum.  Don't give away too much personal information on this forum or any forum.

Gad,

You mentioned a 50% no show. I'm curious, do you call the prospect the day before to confim? Do you send an appt reminder in the mail? If you're not doing these, I would recommend, at least, confirming the appt the day before.

[quote=doberman][quote=Gaddock]

My calls are 10 times what they were in April May and June. I get better every day. BUT I also have to say that the market tanking has helped in a big way. Cold calling during a raging Bull market was tough. I got the feeling most people didn’t even want to talk to their own Broker when they were getting double-digit returns. A couple more weeks of this crazy volatility on top and I feel I can get way ahead of things.

Still having a 50% no show on the appointments. I’ll post my stats for the last two weeks once I’ve added them up.[/quote]

The market volatility of late, represents the best opportunity I've had to snag the accounts from brokers who sold on "high, steady returns". I love this market!

[/quote]

Agree with that - and the best question to ask before you let them go, and after they say they are not interested, is "oh, by they way, just curious, what does your current advisor think about whats going on in the markets.?" Most of them dont know, because they havent heard from him or her.

If you're busy calling other guy's clients trying to swing them your way, who is the other guy calling?

Your clients?

If you’ve been prepping your clients all along for an inevitable downturn it shouldn’t take that long per client to chat and reassure them of their strategy, make changes if warranted and move on to the next.  Unless you are carrying thousands of clients all with different portfolio make ups.

[quote=pratoman][quote=doberman][quote=Gaddock]

My calls are 10 times what they were in April May and June. I get better every day. BUT I also have to say that the market tanking has helped in a big way. Cold calling during a raging Bull market was tough. I got the feeling most people didn’t even want to talk to their own Broker when they were getting double-digit returns. A couple more weeks of this crazy volatility on top and I feel I can get way ahead of things.

Still having a 50% no show on the appointments. I’ll post my stats for the last two weeks once I’ve added them up.[/quote]

The market volatility of late, represents the best opportunity I've had to snag the accounts from brokers who sold on "high, steady returns". I love this market!

[/quote]

Agree with that - and the best question to ask before you let them go, and after they say they are not interested, is "oh, by they way, just curious, what does your current advisor think about whats going on in the markets.?" Most of them dont know, because they havent heard from him or her.

[/quote]

The highlighted part is GOLD. Good come back!

[quote=DAtoo]

If you're busy calling other guy's clients trying to swing them your way, who is the other guy calling?

Your clients?

[/quote]

My clients. But I dont care, because every one of them heard from me in the last two weeks and they all KNOW what I think.

Blarm,<?:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />

To answer the question with the information available would like a Dr. giving you a script from a phone call where you only tell him you are sick. That being said I might put $20K in a sector rotation strategy, keep the other $30 in cash and wait for a good opportunity (probably sooner than later given the nice correction). Would give a lot of thought to maybe buying some puts or a crutch trade for protection on any larger positions in the portfolio until things settle down.

Vbrainy,

Good stuff and 100% agreement on fee based asap. You wrote …”I assume you do the best for your clients” YES that is my first and foremost goal. As I gain clients and always do what I believe to do the right thing a payoff in spades will surely be the result.

Now_indy,

Yes I have started using measures to get the no shows in. Now I’m sending a letter with directions from their house to my office, calling the day before and telling them there is one little detail I forgot like a birthday to put the finishing touches on the HUGE AND GRANDIOS presentation, a little guilt can’t hurt for motivation.

DAToo,

You wrote …”If you're busy calling other guy's clients trying to swing them your way, who is the other guy calling?”

Some of the older clients like it when you help them register for the DNC list. 

[quote=maybeeeeeeee]Some of the older clients like it when you help them register for the DNC list.  [/quote]

In all seriousness.  That is as clever an idea as I have ever heard in thirty-six years of hearing ideas.

That is as clever an idea as I have ever heard in thirty-six years of hearing ideas.

Kind of like this idea?

"Hey, you made Charman's Council in only your 2nd year. Great job! Sorry your career flamed out because you blew up Grand Ma's muni portfolio... Hey!!! Want a job in the back office? Maybe, after slurping the nut off of every manager you have for the next 30 years, you can make it to within 7 people of actually saying hello to our CEO! What do you think?"

"UMMMMMM... That sounds fantastic!"

[quote=blarmston]

That is as clever an idea as I have ever heard in thirty-six years of hearing ideas.

Kind of like this idea?

"Hey, you made Charman's Council in only your 2nd year. Great job! Sorry your career flamed out because you blew up Grand Ma's muni portfolio... Hey!!! Want a job in the back office? Maybe, after slurping the nut off of every manager you have for the next 30 years, you can make it to within 7 people of actually saying hello to our CEO! What do you think?"

"UMMMMMM... That sounds fantastic!"

[/quote]

Blarm, why all the hate lately?  You were a pretty consistent poster of good information.  What's up?

[quote=Gaddock]

A few simple changes dramatically increased the productivity of my cold calling.

 <?:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />

1)      I now call people with the purpose of disqualifying THEM.

2)      I speak to them with courtesy and respect but at the same time as if they are subordinate to me.

3)      I make my voice loud and clear trying to make it as forceful as I can.

4)      I stand up while calling and look in a mirror and force myself to smile even if a fake smile. I built a little calling station in a back room to facilitate this.

5)      I set my daily goal. Then one of two things will happen … I will call until 8 PM or meet my goal and go home.

6)      The most common knee jerk objections are simply ignored and I proceed with the call.

7)      I give my manager my efforts and results (cold calling daily sheets) each Friday and asked him to keep me accountable as to effort and results that are no less.

The above I’m sure is simple and common knowledge to most. BUT these simple changes have made my recent calling beyond my wildest.

I’m now looking forward to making my calls, THANKS Joe for making me get my head around things.

Hope this helps somebody out there.[/quote]

Hey Gaddock,

Thanks for posting. This is really one of the best threads on this site. As I approach my first days of production I really appreciate info like this. Thanks again.

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Blarm, why all the hate lately?  You were a pretty consistent poster of good information.  What's up?

Because I would like to punch the guy in the throat. But you're right, I must resist the urge to reply in a negative manner. There is no point in that... Thanks for checking me.

yikes.  A throat punch.  .hmmmmm

Not too many client calls for me.  Good deal.  Very happy I am not a stock picker.

Yeah. They hurt just as much as a facial delivery, and you dont have to worry about breaking your hand on a cheekbone or jaw…