Ameriprise
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[quote=Fud Box]At least they aren’t collecting business cards in fishbowls at the local Mexican restaurant…oh wait…[/quote]
I’m not a big fan of that and it’s a practice they’re doing away with. But it’s a prospecting technique the same as Door Knocking is, and has worked.
I guess there's no "ideal" way of cold prospecting, but the fishbowl thing just seems so....sleazy. Lure them with food, or bait, and try to land a fish. Doorknocking, cold calling, various forms of networking, seminars....all hard work, and not every technique works for everybody. However, these are all legitimate and straight forward forms of prospecting. Doorknocking and cold calling may not always get a warm welcome, your BNI group or the other Chamber members may not like you (maybe the smell), and your seminars may flop, but atleast your not luring people in under the guise of "winning a free lunch" and then beating them up for an hour to get financial information. The whole fishbowl thing just seems like such a slimy, underhanded, bait-and-switch-like tactic. It stinks of time-share sales tactics. So, do I think it's the same...nope. Does it work..it must work like a champ for a company to employ the use of such a tactic for so long. Just my opinion.[quote=Fud Box]At least they aren’t collecting business cards in fishbowls at the local Mexican restaurant…oh wait…[/quote]
I’m not a big fan of that and it’s a practice they’re doing away with. But it’s a prospecting technique the same as Door Knocking is, and has worked.
I guess there's no "ideal" way of cold prospecting, but the fishbowl thing just seems so....sleazy. Lure them with food, or bait, and try to land a fish. Doorknocking, cold calling, various forms of networking, seminars....all hard work, and not every technique works for everybody. However, these are all legitimate and straight forward forms of prospecting. Doorknocking and cold calling may not always get a warm welcome, your BNI group or the other Chamber members may not like you (maybe the smell), and your seminars may flop, but atleast your not luring people in under the guise of "winning a free lunch" and then beating them up for an hour to get financial information. The whole fishbowl thing just seems like such a slimy, underhanded, bait-and-switch-like tactic. It stinks of time-share sales tactics. So, do I think it's the same...nope. Does it work..it must work like a champ for a company to employ the use of such a tactic for so long. Just my opinion. [/quote][quote=GlengarryGlenRoss] [quote=Fud Box]At least they aren’t collecting business cards in fishbowls at the local Mexican restaurant…oh wait…[/quote]
I’m not a big fan of that and it’s a practice they’re doing away with. But it’s a prospecting technique the same as Door Knocking is, and has worked.
I don't know anyone who ever put their card in a fishbowl and didn't already realize the premise. Most people know you don't get something for nothing. I think it's only misleading if you're clueless. And hey, you still got a free lunch. Besides they are not doing it anymore. Though if they were, I'd have done it too. Anything that puts you in front of people is a win.
Perhaps you’re right. I can certainly understand where you’re coming from. I personally feel that doing ANYTHING to build your business can cross some lines that question one’s integrity and character. Bernie Madoff built a very nice practice.
I'm glad to hear that they've decided to do away with that practice.[quote=Fud Box]Perhaps you’re right. I can certainly understand where you’re coming from. I personally feel that doing ANYTHING to build your business can cross some lines that question one’s integrity and character. Bernie Madoff built a very nice practice.
I'm glad to hear that they've decided to do away with that practice. [/quote]Did I misunderstand you or did you just liken Fishbowl prospecting to what Bernie Madoff did?
lol! Of course not...it's just the principle that doing ANYTHING isn't always a win.
[quote=Fud Box]
lol! Of course not…it’s just the principle that doing ANYTHING isn’t always a win.
[/quote]Well by anything I meant nothing illegal or blatantly slimy. I think the general public understood the fishbowl concept. It’s been around in various forms for years.
I think its a joke to say that coldcalling is a more legitimate prospecting technique than lunch and learns…and I HATED doing lunch and learns. If you are a prospect, do you feel better and more trusting in a person who just made their 432nd dial of the day and you happened to answer the phone, or the person who you actually met and can judge for yourself if this advisor is someone you want to come in and meet? The best part for the prospect is that you can see up close and personal if the lunch and learn guy looks like a sleazeball, or if they can answer a tough question that you may pose to him on the spot at the restaurant.
I know 96% of people on here do cold calling so I will get flamed for this, but its ALWAYS better for the prospect to meet someone before becoming a client than hearing some voice over the phone and having to make a decision based on that. *Waiting on the 57 yr old brokers who have built a 20 year business 100% on cold calling to come screaming...*[quote=SometimesNowhere][quote=anonymous]“just check out AMERIPRISESUX.COM for the inside dope about this dopey company”
I'm not an Ameriprise fan, but that website should be ignored. It's you and Macca (Posted here as William before getting booted) and a couple of other people who failed there along with some lawyer who tries to drum up business. [/quote] Thanks for saving me time, I have little love for Ameriprise, but I at least want objective bashing if somebody has something to say. [/quote] In a buy sell agreement or as a funding device for a smaller firms version of a "golden handcuff" It gives a smaller business flexibility in the premium.[quote=anonymous]“Is it the VUL that’s bad or the Ameriprise VUL. My impression of VUL’s have their place but certainly are not for everyone, or even many. What are the downsides of the VUL? The fees I’m guessing are a big part, right?”
Conceptually, VUL could work in some situations. In reality, it may never be appropriate. At the very least, it would take a very strange fact pattern to make it appropriate. At the heart of the problem is that it combines annually renewable term insurance with a side fund. Annually renewable term insurance is not appropriate for a permannent insurance need. With Ameriprise, both the insurance and the investments are overpriced. I've put out a challenge in the past because I'd like someone to prove me wrong. I want someone to give me a realistic example where VUL beats buying term insurance and putting the difference in the same investment choices. Nobody has done it yet. [/quote] Woops responded to wrong post ... In a buy sell agreement and or as a funding device for a smaller firms version of a "golden handcuff" It gives a smaller business flexibility in the premium as well.Gaddock, it sounds good. Now put numbers to it. Unless you come up with a very strange example, it will lose to BTID.
The VUL has the following disadvantages: 1) Overpriced term rates 2) Sales charge on all money going into the policy regardless of whether the money is going into the investments or the insurance. 3)No breakpoints 4)Surrender charges 5)All gains taxed as income at surrender 6)Insurance must be kept until death I think that you'll find that at no matter what age death occurs or the policy is surrendered, the BTID will win. Are you up for the challenge of making a comparison?I hear what you are saying BUT have you ever seen a buy sell agreement funded with term? I have not. In theory the BTID sounds great. Less than half of 1% of term polocies ever pay a death benefit. Human nature and life gets in the way.
[quote=3rdyrp2]I think its a joke to say that coldcalling is a more legitimate prospecting technique than lunch and learns…and I HATED doing lunch and learns. If you are a prospect, do you feel better and more trusting in a person who just made their 432nd dial of the day and you happened to answer the phone, or the person who you actually met and can judge for yourself if this advisor is someone you want to come in and meet? The best part for the prospect is that you can see up close and personal if the lunch and learn guy looks like a sleazeball, or if they can answer a tough question that you may pose to him on the spot at the restaurant.
I know 96% of people on here do cold calling so I will get flamed for this, but its ALWAYS better for the prospect to meet someone before becoming a client than hearing some voice over the phone and having to make a decision based on that. *Waiting on the 57 yr old brokers who have built a 20 year business 100% on cold calling to come screaming...*[/quote]You are an Ameriprise planner. Therefore, you are mediocre. Mediocre planners don't tell real brokers how to do business. Just because you suck on the phone doesn't mean that everyone does.
What's wrong with using WL instead? And FTR, you can use term for buy-sells, but make sure there are good convertability terms.I hear what you are saying BUT have you ever seen a buy sell agreement funded with term? I have not. In theory the BTID sounds great. Less than half of 1% of term polocies ever pay a death benefit. Human nature and life gets in the way.
[quote=Hank Moody] [quote=3rdyrp2]I think its a joke to say that coldcalling is a more legitimate prospecting technique than lunch and learns…and I HATED doing lunch and learns. If you are a prospect, do you feel better and more trusting in a person who just made their 432nd dial of the day and you happened to answer the phone, or the person who you actually met and can judge for yourself if this advisor is someone you want to come in and meet? The best part for the prospect is that you can see up close and personal if the lunch and learn guy looks like a sleazeball, or if they can answer a tough question that you may pose to him on the spot at the restaurant.
I know 96% of people on here do cold calling so I will get flamed for this, but its ALWAYS better for the prospect to meet someone before becoming a client than hearing some voice over the phone and having to make a decision based on that. *Waiting on the 57 yr old brokers who have built a 20 year business 100% on cold calling to come screaming...*[/quote]You are an Ameriprise planner. Therefore, you are mediocre. Mediocre planners don't tell real brokers how to do business. Just because you suck on the phone doesn't mean that everyone does.
[/quote] 3 years of lunch and learn experience has allowed me to do 6 corporate seminars in the past 2 months with 30+ attendees at each one. If you ask me, I'd much rather suck on the phone than in front of a large room of prospects. But keep plugging away in front of your list of numbers, you hack.
[quote=3rdyrp2][quote=Hank Moody] [quote=3rdyrp2]I think its a joke to say that coldcalling is a more legitimate prospecting technique than lunch and learns…and I HATED doing lunch and learns. If you are a prospect, do you feel better and more trusting in a person who just made their 432nd dial of the day and you happened to answer the phone, or the person who you actually met and can judge for yourself if this advisor is someone you want to come in and meet? The best part for the prospect is that you can see up close and personal if the lunch and learn guy looks like a sleazeball, or if they can answer a tough question that you may pose to him on the spot at the restaurant.
I know 96% of people on here do cold calling so I will get flamed for this, but its ALWAYS better for the prospect to meet someone before becoming a client than hearing some voice over the phone and having to make a decision based on that. *Waiting on the 57 yr old brokers who have built a 20 year business 100% on cold calling to come screaming...*[/quote]You are an Ameriprise planner. Therefore, you are mediocre. Mediocre planners don't tell real brokers how to do business. Just because you suck on the phone doesn't mean that everyone does.
[/quote] 3 years of lunch and learn experience has allowed me to do 6 corporate seminars in the past 2 months with 30+ attendees at each one. If you ask me, I'd much rather suck on the phone than in front of a large room of prospects. But keep plugging away in front of your list of numbers, you hack.[/quote]
Sounds like we only differ in that you can get people to show up for food and I can get them to show up and buy.
Are you able to fit them in considering your busy posting (7 per day) schedule?