gethardgetraw

thanks for update on ur progress. u have me amp. going to make calls. saturday night at 7pm

GHGR,

Can I get in touch with you?  I'm a newer advisor in the DC metro(out 9 months) and would like to pick your brain because I want to start cold calling more as doorknocking has been a waste of time.  (not sure if its my market or me - I'm a younger FA).  

PM me.

Damn good post GHGR. 

Very motivating, It's monday and I'm still hung over from the wedding on saturday that spilled over into Sunday morning. Ughhhhh

GHGR, the script is good stuff. And, so is the approach to find a bond and make the calls.

Sounds like you are putting out the effort. Why, aren't you hitting it out of the park?

Is there an aspect of your process that is holding you back or could be improved?

Your script works wonders, because it has name recognition, a tangible rate of return, sense of urgency, it's 35 seconds or less. The only area you could improve upon, might be "special offer".

(Are you able to take advantage of this "new issue", or would you like me to contact you in the future if we have a "special offer".)

GHGR, nice job, nice enthusiasm. Apply what you're doing in decent numbers of calls, and by the end of this year you might have the base of a lifelong book.

success in sales is about quantity and QUALITY. What EXACTLY are you saying on your call?  Would you be open to improving your picth and getting more results?

good point ryan. going forward i will try to remember what i've been saying. i'll also try to find some sort of medium in which to keep record of my pitch. looking forward to success in sales.

Yeah GHGR that would actually be immensly helpful if you were able to record a (mock) call. I've found your posts very useful, just seems to be a key ingredient or phrase I'm missing. Thanks in advance

[quote=gethardgetraw]

I was listening to a Bill Good seminar last night and he had a top producer come in and talk to the group. The FA said, the instant you walk into your office in the morning, become a professional actor. If you were being pitched a bond on the telephone, would you rather listen to an actor playing a financial advisor or a college professor playing a financial advisor?

All too often we're the professor. And we bore them to death and they just want to hang up the phone as soon as possible. You get Tom Cruise calling you up with a bond, and he's going to inject a hell of a lot of energy and emotion into his bond presentation.

That's why this job is so mentally exhausting. If we want to become successful, we've got to go into each and every call thinking the prospect is sitting on $100k cash and is very willing to invest with us. 200 times per day, 6 days a week. We've got to sell on emotion, not logic. One of the hardest jobs in the world. Phone book and a bond. Work your magic.

[/quote]

Which seminar do you find most valuable at this point?

Gone...

Indy!!!

I will get to everyone's PM's, requests, etc soon. Give me a minute; never done this before :)

Dude, just post it in here!  Dying to know your story.

I am with SuperMan, let's hear it. 

Congrats!

Details man, we need the details. Specifically, how you are handling your NonCompete.

I'm with the others. Please post up the details. You can do it and keep your anonymity.

So what's the story??

[quote=gethardgetraw]

Gone...

Indy!!!

[/quote]

I'm starting to think he's just gone.

All PM's responded to that weren't asking for too much personal info. Still don't want to discuss compensation, city/state, or AUM. Just not comfortable with that. I'll give up my full name, AUM, etc when I make Barron's Top 100 :)

Ok my story - 3 years at Jones and I met with a local indy and was offered an absolutely incredible offer. Wells Fargo FiNet. He had locked in a lease with a collegue who left the business shortly after the lease was signed. Literally an empty room other than desk/comp just sitting there. 90% payout. We split lease, utilities, part time assistant (min wage), tech. We each pay our own ticket charges, transfer fees, etc (anything that has to do with advisor's own clients).

As for the noncompete - no trouble so far. Jones took their full 30 days for the license transfer. Longest 30 days of my life. Really nothing bad to say against Jones even after leaving. Great firm to start with. I'm paying the $95 account transfer fee out of my own pocket and only talking to clients who I genuinely enjoyed talking to while at Jones. No a-holes will transfer.

The two main reasons for going indy -

1) Wow we have a great bond inventory here. A 5% muni at discount with $10mm inventory at Jones was gone before the end of the day. Here, we have several of these available, and some even at 6%. Jones had Jones-specific inventory. We have access to the entire open market.

2) 90% payout. The broker I'm sharing a roof with is meeting the full payout and has been for the past 10 years. Not to get too much into it, but even bringing on a collegue, we're still at 90%. Nice guy and knew him for a while too. Outside of fixed income, all fee-based. He makes a killing and works 2 days a week, maybe 4 hours total. Very nice guy. Been in this area doing business for 30 years. Briefly mentioned wanting to retire but I'm not going to even bring it up. Brick and mortar real office. No shopping mall, no suite number. How I always imagined it could be in this business.

Ok I had three reasons. 3) You'll have to excuse the rough math, but after taxes and expenses, doing Seg 2 numbers at Jones nets you roughly $45,000/yr. Indy and you're making $100,000/yr. Materially different lifestyle. You've just got to be honest with yourself. Are you REALLY getting $55,000 worth of "support" from Jones? This is just on Seg 2 numbers. And you've got to remember, assistant, lease, tech are all fixed expenses. It blows my mind that there are million dollar producers who are still at Jones.

Anyway, I'm still moving over clients and my anxiety is still through the roof.

All I know is no more regional meetings dodging your $450 loafers from cow shit on some guy's farm while having to listen to some wholesaler preach Met Life Variable Annuities. There's so much more to this business.

Also is it weird to feel more "solidified" while in this huge transition? I'm not leaving this business and I feel so much more like a permanent fixture in my city and business after the move. Shedding the Jones green sport coat and I feel... liberated. I mean, no more recruiting emails about how we need more Jones in the area. No more monthly newsletters reading about how some 22 yr old rookie claims he wakes up at 5am (come on...) and who says they're in this business to "help people," yet they're selling annuities which they don't. even. understand. (But hey, they pay 6%.)

I feel like I now really do eat what I kill. Like, "Welcome to the Big Leagues, son."

Let's do this.

congrats gethardgetraw, I'm very happy and excited for your new adventure.  Don't forget us and keep in touch.

beer monday