Guys , I think the comments are really quite fair and balanced. Even for those with a reasonable book it is still a challenge. I do say this with all seriousness , I am fortunate to have a considerable percentage of my business in Insurance Product/s.

In 2000, I learned to keep about half of the porfolio in bonds. That's just a hard learning. There is no reason to put more than 60% in stocks, ever. Nick Murray is a cranky old man. People's risk tolerance is what you tell them it should be. Cash reserves are king. If you don't talk to your clients now, they will leave. If you talk to other people's clients, your AUM will grow. These are hard times and they may get harder, but we should be cutting our costs (go RIA?) or selling insurance, reassuring our clients to the point where they are sending their friends because the other advisor is paralyzed by fear.

Without going in to specifics and percentages my Insurance Production has been very profitable and continues to grow.

My bond portfolios are just as ugly looking…insured muni bonds trading at 75c on the dollar…closed end muni funds even uglier…tough tough tough time right now.  No bailout, 777 points down…bailout passes down 150 pts…BUT…2 new accts today…245k+ transfers

Bspears…there is always an upside or something positive in a week. Good for you two new accounts. I mean it. I did a couple of decent underwritings this week with Life Product. Bonus …they Underwriting Department approved the Apps.

I did have a client buy 1000 shares of fertilizer company today...I love those farmers. 

Monsanto?   Do they make fertilizer?

Mosaic

NOW IS THE BEST TIME TO START. If you think it’s hard to prospect during fear and panic imagine prospeting in a multi year bull market like a year and a half ago. Each month they see a nice increase and it’s all roses why would they want to talk to you in the good times?

Bspears…No Shit! Mosiac if you get a chance P.M. next week between whatever crisis developes between now and then.

Great…are you saying they’re about to go under because of subprime mortgages and credit default swaps

Bspears…just checking out for the week. They are okay today…what could they be exposed too???

I’m glad I checked unsolicited…

I too, as some already know, am getting very cautious about taking the position with EJ.

It’s tough in this environment, but maybe not if you are just starting. The first year you mostly prospect, so take the gig, put 3000 prospects in the system in year 1 and start mining them in year 2 when things turn around or when they get tired of waiting for things to turn around.

In the words of Lou from Wall Street “Remember there are no shortcuts, son. Quick buck artists come and go with every bull market, but the steady players make it through the bear market. You’re a part of something here, Bud”

Thanks for all of the advice and opinions.  I am going for it!  

hey web manager (a$$wipe). stop erasing my posts!

[quote=ezmoney]hey web manager (a$$wipe). stop erasing my posts![/quote]
EZ, was that Dale Carnegie or you that wrote the classic book, “How To Win Friends and Influence People?”