BEST CLOSES or Techniques
70 RepliesJump to last post
One has to wonder what the client was gripping when he called...The client called SB and gripped and they said “Oh well, we can cut it in half”…
He was gripping his ankles as wind was showing him his brand new A share portfolio
One has to wonder what the client was gripping when he called...[/quote] To quote my 25 year old M.B.A. friend Windy, "Thats rediculos"[quote=wind3574]The client called SB and gripped and they said “Oh well, we can cut it in half”…
I guess life is pretty easy when you just shove everyone into GE, Home Depot, Intel, Johnson & Johnson and McDonalds…
But I am concerned about the Spendulous Bill, I wonder if there is some perspective available on that?I guess life is pretty easy when you just shove everyone into GE, Home Depot, Intel, Johnson & Johnson and McDonalds…
[quote=maddog][quote=buyandhold] [quote=maddog]
Sam is right - this type of approach may be successful in the short run - but, be prepared to lose those clients during the next downturn. [/quote]Wind will be 70 the next time we have a downturn like this.[/quote] What? - the market only cycles every 70 years? [/quote]
This is not a cycle, this is a crash.
[quote=wind3574]Sam - I apologize, I just get tired of the crap in here…Yes i am putting them in class appropriate funds. Most people hold these things long term, or plan to so A shares are definitly appropriate. What I am finding is most advisors just don’t want to have the commission talk to the customers, so they put them in B shares or C shares. I just try to get rid of as many “unnecessary” fees as possible. I guess alot of guys in here find it hard to believe someones actually doing whats best for the client… Right now it’s difficult for older generations, so I try to focus more on single bonds, cds, UIT’s, and the occasional bond fund for them.
No SMA...It was just an IRA account, managed by Lord Abbot. SB really screwed him on the deal. He had 2 IRA accounts. 1 with nothing but bonds and bond funds, the other with single stocks. When SB had LA take over the stock account they transferred the bonds into the managed account, and were taking the 4% "Management fee" on not only the stocks, but the bonds too....That kind of thing pisses me off...[/quote]I am at SB - you have no idea what you are talking about. Moving the bonds into a managed account and charging even a penny on them as a fee is not permitted. In addition if the client had individual stocks in it and the account is being managed by LA, then it IS an SMA.
As far as being afraid to show the commission - thats great - you show the 5.75% commission - you are my hero. I prefer to tell the client that there is no commission to buy and sell, but there is a fee for my advice and knowledge.
You are 2 1/2 to 3 months in, and you 1. have 30k gross in and 2. are trying to tell us this crap and get upset when we dispute it?
You are full of crap, you dont know what you are talking about, and you need to get a thicker skin.
[quote=theironhorse]i don’t see how it is possible. not saying you are lying, just that without seeing anything i cannot make heads or tails of it. my b/d would not allow it. i believe our ceiling is 2.5%[/quote]
He is lying. SB or ANY wirehouse or ANY legitmate b/d would not allow a 4% fee on an advisory account.
Please teach me how to do $30k in my first two and hal months and spend so much time on a message board.
[quote=wind3574]
thats exactly how I do it...and it works well for me....Im about $30,000 gross, at about 2 1/2-3 months out[/quote] I know some advisors that put their parents in a $600,000 annuity in their 2nd month as well.