Well just to keep you guys up to date with this here thing they call prospecting. I have shortened my script to:

Hello Mrs. Pleasedontsayno my name is James Doe I'm an financial representative with a firm downtown City, AL. I'm calling to see if there is any opportunity for us to meet to review your investment accounts as I know there's alot of advisors ignoring their clients during these uncertain times. With that  I know banks arent paying anything and we've just had some insured tax free muni bonds become available. Do you do any brokerage business?

You guys still think this is too lengthy? On the phone it doesnt seem to be.

Other than all the dang no's and the lack of prospects I've generated to dial I love this jobCan anyone suggest any other sources for creating a dial list. I've literally scrubbed 1400 names to come up with 225 callable leads of which 63 were bad or fax numbers. It took me literally a week to scrub the 1400. I have to come up with something better then scrubbing residential leads.

When calling on a business what do most pitch? I am very confused when people say they call on businesses. The one business I called on was to get a 401k plan and am in the works of getting it. (side note what do we get typically get paid on 401k plans? 2 milliion assets) Any help will help!!!!

You dont want to hear this but I've got to shoot straight here - it's still way too long

Lose the financial representative. They won't let a stranger calling them out of the blue to review their retirement accounts as well. Some bonds? Tell them about ONE bond. One. Specific. Bond. They need to know it's a particularily attractive bond. And you called them about it. Their existing broker didn't.

Scrub on the weekends. Bring an ipod.

Hello Mr Mcgullicudy, my name is toolongscrpt and I'm calling from BeMyClient Wealth Management. I'll be brief - The reason for my call is as follows: 6%, Tax Free, Fully Insured. Any interest on your part?

Then shut up.

Hello Mr Mcgullicudy, my name is toolongscrpt and I'm calling from BeMyClient Wealth Management. I'll be brief - The reason for my call is as follows: 6%, Tax Free, Fully Insured. Any interest on your part?

Then shut up.

And by the way, buy a list thats already scrubbed.

Bob, or any others. Have you found being very punchy with minimum details like you've said would yield serious responses? I sometimes feel you;ll get a sincere response in level with how sincere you ask. Just curious what you guys think about a pitch as brief as bob's

Mr. Smith, i'm calling with information on an investment that yields 7% tax free. Does that sound like something you'd have an interest in?

or the long version:

Mr. Smith I'm calling with inforamation on an investment called a tax free mutual fund are you familiar with these?

(yes)

Then as you are aware they are a collection of bonds selected for tax free income and safety. i currently have a fund available that is yielding over 7% tax free. Could i send you some information on it?

(sure)

terrific, i have you at ________________ . And i've got your last name spelled_________ is that right?

Great, Mr. Smith, on last question , our minimum investment is $50,000, if you like the idea, i assume that wouldn't be  problem for you?

(no problem at all)

terrific, mr. Smith i'll get this information right out to you and i'll be in touch next week to see what you think.

(OK)

Have a great afternoon

(you too goodbye)

let them hang up first.

_________________________________________________________________

This approach is known as an appeal to greed. Yeah it sounds horrible. Our job isn't to spend couch time analyzing why this works, only to know that human nature being what it is, it does work. So, while the jury may be out on whether or not greed is good, greed does sell lots of fixed income.  So, use it.

Send Oppco Rochester National Fund info. (due to bond market conditions, this fund's yield may currently be a smidge below 7%)

Note: this may be an inappropriate investment for some investors. I'm not reccomending anyone buy this fund. Not the point! The goal here is to guage interest not to sell a product. On the second call you can either fact find or set an appointment. On the flip side, there is nothing wrong with selling the prospect this Opco fund if it fits their needs and risk parameters. You be the judge.

Thank you all. (Bond Guy thanks for putting in the real vanilla script as I needed it LOL)  I will be out of the office the remainder of the week but look forward to using a revised pitch starting next week.  Thanks again for the recommendations and I will keep you posted.

Another thing I'm looking at doing is changing the city/region of the state in which I'm calling. I have familiarity with this region as I use to work over there. Again, I'll keep you guys posted. Thank you thank you thank you for the positive input!!!!!

Sportbob's script works very well.

Here's the simple truth: you're a stranger calling them out of the blue.

Here's what you've got to do: close your eyes and imagine you're home after work. Doing what you do. Sitting on the couch watching tv, grilling outside, browsing the web, throwing your dog's toy around - and you get a phone call. You're kind of hungry and kind of tired, and it's some guy just calling you out of the blue. You really weren't doing anything important so you hear the guy out. You already know you're not interested. Why? Because you don't know him and he called you out of the blue. But let's say you're a cigar aficionado. And this guy who called was actually just letting you know that his cigar shop has your brand of cigar at an insanely low price because of an shipping error they were delivered 100 too many cases. Ok... so now you're interested. You went instantly from zero interest to a hot prospect. And you hear him out.

Is everyone you call going to be a cigar aficionado? Nope. But, this is exactly the scenario with a wealthy tax free bond buyer. Take you 160 calls to find one? So be it.

6%. Tax free. Fully insured.

He starts asking questions... bingo.

GHGR when you say 6% are you calculating a ficticious tax bracket into that? Assuming obivously the caller is at least in the 25+ tax bracket.

I guess the other issue I'm running into is when looking at the muni bonds available in AL. I dont have anything over yield to worst of 2.82 with being held to maturity of 3.482 for 12 years so in this case what would you quote?

When prospecting use the highest yielding bonds in the inventory. That means showing long term bonds. You have to get their attention and 2% isn't going to get that done. Don't worry, they will tell you if they don't buy LT bonds.

There is no reason to stay in state when selecting a bond for prospecting. let the prospect tell you they buy only in state bonds. If you can find higher yield out of state, do it! Again, they will tell you if that isn't going to work.

One of the reasons I showed a MF pitch is with the movement in the market you may not be able to find suitable bonds to pitch everyday. The funds are open and available every day. Even if you're not a fund guy, and I'm not much of one, using one to prospect with in lean times is just plain smart. And, to cover the base, there is nothing wrong with being a bond fund guy/girl. Whatever floats your boat. In fact putting a million a month into C share  muni funds will give you a great start to next year. Or, doing a million a month of A shares will give you a great year this year.

I can't speak for others, however, the fund i showed has a yield of 7% tax free. The Fake yield better known as the taxable equivalent yield will be north of 11% for your target investors.

Mivy. Just do whatever BondGuy says. Seriously. He is probably the best prospector on this forum

I would also add, stop analyzing so much. If you call one thousand people and your script is "the reason for my call is to tell you to F*** off, are you interested" 5 or 10 will say yes. I'm exaggerating, but i think you get the point. Start a conversation. Talk to people.

As promised a quick little update.

As everyone has stated it takes time to build a book but some things are starting to roll. Someone I had been speaking with for some time finally came in to open an account and stealing it from a major wire  Not to mention I have a HUGE deal in the works that will almost double my salary.... KEEP YOUR FINGERS CROSSED I know I am.