Call Script for CDs

“Hello, would you like to buy some CD’s?”

Mr. Prospect,

My name is Turd Ferguson and I'm an advisor with Stool Securities here in Logville.  I have built my business around raising the investment income of retired individuals.  Do you have any CDs currently paying you 6%? 

Well, I have a limited quantity of just that investment today.

No matter what you are cold calling on, the qualifier of your success is volume (especially in these days of the DNC list).  When calling on bonds or CDs I always made it short and sweet:

After intro:  " I'm calling today because I have a (bond/ CD) with a guaranteed rate of 6% would you like to hear about the deal?"  <>  Prospect asks one question about you or the product - full pitch.

Prospect says "no", ask:  "next time I come accross a guaranteed etc. like this would you like me to give you a call?"  If it's "no" move on  -"maybe" or "yes" quallify for when will he be liquid and if he "loves" the idea - how much would he put into it.  It will make him uncomfortable but if he wont answer that, 9 out of 10x, he's not a good  prospect.  Hang up and dial someone else.

Boy, do I miss cold calling (or do I?)

[quote=ManDate]

Well, I have a limited quantity of just that investment today.

[/quote]

That line smacks of Shelley "the machine" Levine ...

[quote=wlooney]Just out of curiousity, does anyone have a good call
script for CDs.  I am going to give it a shot in an effort to get
the asset numbers up a bit.  [/quote]





Good morning, Mr. Jones this is AllREIT at Pump and Dump Capital and
I’m calling you today with a fantastic CD yeilding 5% This CD probably
has a higher interest rate than any CD your bank offers.  Does
this sound like something you would be interested in?



—

Now make sure to speak slowly with a natural pace, not a bad idea to record yourself and practice your delivery.

[quote=NOFX]Prospect says “no”, ask:  “next time I come accross a
guaranteed etc. like this would you like me to give you a call?” 
If it’s “no” move on  -“maybe” or “yes” quallify for when will he
be liquid and if he “loves” the idea - how much would he put into
it.  It will make him uncomfortable but if he wont answer that, 9
out of 10x, he’s not a good  prospect.  Hang up and dial
someone else.

Boy, do I miss cold calling (or do I?)

YOU can't get paid on CDs so why call on them.

Try IPOs, that is if your firm underwrites them.

"YOU can't get paid on CDs so why call on them."

You dont get it.

Having a prospect open an account with an initial CD purchase will make none of us rich. The key is getting the account, mining for their other assets, developing a relationship, bridging to other products/services( i.e closed end income funds, Step Up notes, tax free muni funds, etc), and growing the relationship and revenue from there.

Now you get it. Hopefully.

[quote=maybeeeeeeee]

YOU can’t get paid on CDs so why call on them.

Try IPOs, that is if your firm underwrites them.

Do most broker dealers still allow cold calling? (Mine doesn’t, not that I care).

"Do most broker dealers still allow cold calling? (Mine doesn't, not that I care)."

....Uhhh....  

Mine doesn't, so I hooked-up a CB radio in my office and talk to truckers all day. Hey, don't laugh. Indy truckers make good money!

This is my CB script:

"Breaker, breaker 1-9, this is doberman. Anyone lookin' for some high yield, tax-free bonds? Over."

Eaton Vance has another closed end fund coming in FEB.

Their funds have good track records, excellent professional mgmt, and high yield. They're leverage free, and pay about 3% yield to pocket.

The NI aspect could get some fence sitters of the ...well you know.

I don't think it's a good strategy to prospect with CD's.  You are looking for investors, not savers.  There are more than enough qualified investors out there.  I realize that often you want to get your foot in the door.  Still, you'll spend more time dealing with a friendly saver who (yes) will take your call, yet will rarely do any significant business.  I would rather take a small account where some sort of stock/bond/fund is sold, when you know there is more to come (i.e. 401k rollover). 

My firm does does underwrite IPOs, but I'm looking for something guaranteed that can get me in the door.  My strategy with CDs (and don't worry, pitching CDs isn't high on my list of strategies in my business plan) is exactly that which blarmston stated.  Gathering assets and staying in the program #1, then mining for other assets, developing relationships, bridging to other products, and asking for referrals.  If I can develop a few relationships with conservative investors at or near retirement, I'd imagine they will have friends who might need to rollover their 401(k) soon, possibly into an annuity.  I'll let you know how it goes.

[quote=maybeeeeeeee]

YOU can't get paid on CDs so why call on them.

Try IPOs, that is if your firm underwrites them.

NYSE symbol for the new Eaton Vance fund is EXG.

Yes Bondguy, thanks again...that has been pushed down my throat plenty over the last few weeks.  We are one of the underwriters.  I just want to ALSO sell CDs to gather assets and build relationships.  Maybe I am taking this response the wrong way (and if I am let me know) but why are half the people in here so against selling CDs?  We kill any interest rate I have seen. 

[quote=BondGuy]

NYSE symbol for the new Eaton Vance fund is EXG.

Each year I get a copy of the various annual reports from the banks.  When someone asks me about CDs, I drag one of these out, turn to the page titled “Investments”, and ask, “If the bank thinks CDs are such a great idea, why don’t they, as a company, own any?”

I’m sure that spiel works on clients who don’t understand how banks operate.



However it is sort of obvious why banks don’t own CD’s, it’s because
they are in the business of earning a spread on deposits and risk free
assets don’t generate much NIM. So the difference is CD rates vs Corp
bond rates.



At current rate’s CD’s are an excellent thing to call with, and you do
get paid for them. I’d much rather sell a CD, than a closed end fund
which is 10-1 going to trade a discount to NAV in ten months. If you
lose clients money, you will lose clients.

[quote=AllREIT]I'm sure that spiel works on clients who don't understand how banks operate.

However it is sort of obvious why banks don't own CD's, it's because they are in the business of earning a spread on deposits and risk free assets don't generate much NIM. So the difference is CD rates vs Corp bond rates.

At current rate's CD's are an excellent thing to call with, and you do get paid for them. I'd much rather sell a CD, than a closed end fund which is 10-1 going to trade a discount to NAV in ten months. If you lose clients money, you will lose clients.
[/quote]

Well said.

Here's a question...if I get people on board as CD clients, how do I develop that into actual business once the CD comes up?

[quote=AllREIT] I’m sure that spiel works on clients who don’t

understand how banks operate.



However it is sort of obvious why banks don’t own CD’s, it’s because

they are in the business of earning a spread on deposits and risk free

assets don’t generate much NIM. So the difference is CD rates vs Corp

bond rates.



At current rate’s CD’s are an excellent thing to call with, and you do

get paid for them. I’d much rather sell a CD, than a closed end fund

which is 10-1 going to trade a discount to NAV in ten months. If you

lose clients money, you will lose clients.



[/quote]



Whether they understand how banks work or not is immaterial. You said

it yourself…these vehicles don’t earn much. That, in a nutshell, is the

reason for NOT using CDs.

[quote=Starka] [quote=AllREIT] I’m sure that spiel works on clients who don’t

understand how banks operate.



However it is sort of obvious why banks don’t own CD’s, it’s because

they are in the business of earning a spread on deposits and risk free

assets don’t generate much NIM. So the difference is CD rates vs Corp

bond rates.



At current rate’s CD’s are an excellent thing to call with, and you do

get paid for them. I’d much rather sell a CD, than a closed end fund

which is 10-1 going to trade a discount to NAV in ten months. If you

lose clients money, you will lose clients.



[/quote]



Whether they understand how banks work or not is immaterial. You said

it yourself…these vehicles don’t earn much. That, in a nutshell, is the

reason for NOT using CDs.[/quote]

I think what this all comes down to is whether or not one wants to use the CD’s as a “loss leader” to gather assets, open accounts, and get to know the client better.

Some folks-myself included-are not inclined to spend the time on a product that essentially pays them nothing.  In fact, I think on many indy platforms if you make too small a CD trade it could literally COST you to open the account.  (i.e. Ticket charges exceed the commish).

There’s also the question whether or not marketing CD’s are going to attract the kind of person who-long term-won’t really make a very good client anyway.

[quote=wlooney]

My firm does does underwrite IPOs, but I'm looking for something guaranteed that can get me in the door.  My strategy with CDs (and don't worry, pitching CDs isn't high on my list of strategies in my business plan) is exactly that which blarmston stated.  Gathering assets and staying in the program #1, then mining for other assets, developing relationships, bridging to other products, and asking for referrals.  If I can develop a few relationships with conservative investors at or near retirement, I'd imagine they will have friends who might need to rollover their 401(k) soon, possibly into an annuity.  I'll let you know how it goes.

[quote=maybeeeeeeee]

YOU can't get paid on CDs so why call on them.

Try IPOs, that is if your firm underwrites them.

[/quote] [/quote]

Selling PRODUCT is never a good idea.

[quote=vbrainy] 

Selling PRODUCT is never a good idea.

[/quote]

Gotta totally disagree with this.

I disagree as well.

So tell us Vbrain- what is your approach?

[quote=BondGuy]

NYSE symbol for the new Eaton Vance fund is EXG.[/quote]

Now that ETY and AOD have hoovered up over $6 billion, how much more addressable assets are left?

[quote=entrylevelFA]

[quote=AllREIT]I’m sure that spiel works on clients who don’t understand how banks operate.

However
it is sort of obvious why banks don’t own CD’s, it’s because they are
in the business of earning a spread on deposits and risk free assets
don’t generate much NIM. So the difference is CD rates vs Corp bond
rates.

At current rate’s CD’s are an excellent thing to call
with, and you do get paid for them. I’d much rather sell a CD, than a
closed end fund which is 10-1 going to trade a discount to NAV in ten
months. If you lose clients money, you will lose clients.
[/quote]

Well said.

Here's a question...if I get people on board as CD clients, how do I develop that into actual business once the CD comes up?

[quote=entrylevelFA]

[quote=AllREIT]I'm sure that spiel works on clients who don't understand how banks operate.

However it is sort of obvious why banks don't own CD's, it's because they are in the business of earning a spread on deposits and risk free assets don't generate much NIM. So the difference is CD rates vs Corp bond rates.

At current rate's CD's are an excellent thing to call with, and you do get paid for them. I'd much rather sell a CD, than a closed end fund which is 10-1 going to trade a discount to NAV in ten months. If you lose clients money, you will lose clients.
[/quote]

Well said.

Here's a question...if I get people on board as CD clients, how do I develop that into actual business once the CD comes up?

[/quote]

You don't. CD buyers tend to be CD buyers.

[quote=wlooney]

Yes Bondguy, thanks again...that has been pushed down my throat plenty over the last few weeks.  We are one of the underwriters.  I just want to ALSO sell CDs to gather assets and build relationships.  Maybe I am taking this response the wrong way (and if I am let me know) but why are half the people in here so against selling CDs?  We kill any interest rate I have seen. 

[quote=BondGuy]

NYSE symbol for the new Eaton Vance fund is EXG.

[/quote] [/quote]

In my experience yield sells. Or it at least gets the prospect's attention. Thus leading with EXG at 9.5%. That said, I see nothing wrong with leading with CDs if that's the way you want to go. It's important to use the bake time on whatever CDs you use to build a relationship to penetrate the account. Otherwise you end up with nothing more than a PIA CD buyer. Little income for you and lots of aggrevation. Some good points on this have been posted.

A word about the closed end fund criticism here. I'm the last person to defend closed end funds. Generally speaking I don't like them. However, no more than a doctor would ignore an entire class of pharmacuticals, I can't ignore an entire class of securities. Nor can I judge the performance of one by the completely unrelated performance of another. That said, the reputation of closed end funds is not totally undeserved. Still, the comment that they will be down in 10 months can be applied to any investment. For that reason it's important that any buyer of these funds be made aware of the risks.

EVs closed end funds have done well, though at this point in the cycle many remain untested. Looking at EV's management on the open end side should add a level of confidence. The current crop of CEF come to market sans the NAV killing leverage that earned the field distain.

A word about leading with product.

I specialize in wealth management through creative fixed income solutions for individuals such as yourself.

That line sounds terrific in a one on one meeting with a willing prospect/referral. On the phone. it's just another caller saying they are the best. It's impact is lost in the electronic haze.

Leading with a product, we are fishing for a certain type of fish. With tax frees, that fish is the wealthy income investor. Who just so happens is exactly the same person who will benefit from my wealth management through creative fixed income solutions specialty. Only difference is I don't pull the specialist card until I have a seat at the table and the client's full attention. Leading with a product gets me a seat at the table. Leading with a service, even a good one, get's a place on the unemployment line.

Thanks BondGuy…good input.

ditto…

[quote=BondGuy]A word about the closed end fund criticism here. I’m the
last person to defend closed end funds. Generally speaking I don’t like
them. However, no more than a doctor would ignore an entire class of
pharmacuticals, I can’t ignore an entire class of securities. Nor
can I judge the performance of one by the completely unrelated
performance of another.[/quote]

Bondguy, what percent of closed end funds are trading at a discount today? (roughly 93% of them).

How many started trading at a premium to NAV?  (All of them).

Is this really good odds?

[quote]That said, the reputation of closed end funds is not totally undeserved. Still, the comment that they will be down in 10 months can be applied to any investment. For that reason it's important that any buyer of these funds be made aware of the risks. [/quote]

With closed end funds, most of them trade at a discount to NAV within 10 months of the IPO. This is well known and not in dispute.

The reason closed end funds exist is becasue they are very profitable for the managing company (the AUM sticks with you no matter what the expenses or performance) and very profitable for the underwriters and salesforce. It's the same as bad variable annuities or life insurance products.

I wouldn't buy a new CEF with my own money, and I wouldn't buy it with other people's money.

[quote]EVs closed end funds have done well, though at this point in the cycle many remain untested. Looking at EV's management on the open end side should add a level of confidence. The current crop of CEF come to market sans the NAV killing leverage that earned the field distain.[/quote]

The leverage was at most 1/3rd of assets (per the 1940 act). What got CEF's into disdain is the fact they are offered at a premium to NAV, and tend to trade at discount to NAV soon after the IPO. This has very little to do with the quality of management or assets chosen for investment.

The academic community is still unsure why CEF's trade at a discount but the main hypothesis is that the discount tends to converge on the present value of management fee's.

Covered Call CEF's were tried back in the late 1970s and failed for the same reason that they will fail today. The monetisation of upside via covered calls will cause the portfolio NAV to have a "downward ratchet" over time. As the portfolio errodes, the % of the portfolio covered will increase as will leverage to maintain the distributions.

[quote]A word about leading with product.

I specialize in wealth management through creative fixed income solutions for individuals such as yourself.

That line sounds terrific in a one on one meeting with a willing prospect/referral. On the phone. it's just another caller saying they are the best. It's impact is lost in the electronic haze.[/quote]

To paraphrase Goering:

“Whenever I hear the word ‘creative’ I reach for my revolver.”

[quote] Leading with a product, we are fishing for a certain type of fish. With tax frees, that fish is the wealthy income investor. Who just so happens is exactly the same person who will benefit from my wealth management through creative fixed income solutions specialty. Only difference is I don't pull the specialist card until I have a seat at the table and the client's full attention. Leading with a product gets me a seat at the table. Leading with a service, even a good one, get's a place on the unemployment line.[/quote]

CEF’s trade at a discount because the markets are information efficient.

Doubt me?

Call your local Blackrock or Eaton Vance internal wholesaler, and ask them for an update on the performance and portfolio composition for a CEF you purchased on the IPO a year or two ago.  Listen to the silence. ;-)  Better yet, ask them for something in writing, other than the annual report.  It’s getting better, because at least some of the firms now keep updates on their websites.  But the internals and externals don’t talk about them much because they don’t get PAID any moreonce the offering is done.  If you buy the fund in the open market it doesn’t matter to them one whit.  The EV guy in my old territory used to suddenly become an expert in the (fairly good) past performance of the older offerings about 2 weeks before he was ready to bring a new one.

Still doubtful?  Go to your b/d’s research platform and input the symbol of a few of your CEF holdings, and see how much research info you find.  If there is any, it’s likely to be minimal.  Why?  Well how much to the I-banker’s make after a deal is closed.  ZIPPO!

Yes there are some exceptions to the examples I cite, and it is better now than a few years ago.  But, in general, you just need to FOLLOW THE MONEY!

[quote=AllREIT] [quote=BondGuy]

NYSE symbol for the new Eaton Vance fund is EXG.[/quote]

Now that ETY and AOD have hoovered up over $6 billion, how much more addressable assets are left?

[/quote]

Although it comes in Feb, this is March biz for me...anyone else?

[quote=AllREIT][quote=BondGuy]A word about the closed end fund criticism here. I’m the last person to defend closed end funds. Generally speaking I don’t like them. However, no more than a doctor would ignore an entire class of pharmacuticals, I can’t ignore an entire class of securities. Nor can I judge the performance of one by the completely unrelated performance of another.[/quote]

Bondguy, what percent of closed end funds are trading at a discount today? (roughly 93% of them).

How many started trading at a premium to NAV?  (All of them).

Is this really good odds?

[quote]That said, the reputation of closed end funds is not totally undeserved. Still, the comment that they will be down in 10 months can be applied to any investment. For that reason it's important that any buyer of these funds be made aware of the risks. [/quote]

With closed end funds, most of them trade at a discount to NAV within 10 months of the IPO. This is well known and not in dispute.

The reason closed end funds exist is becasue they are very profitable for the managing company (the AUM sticks with you no matter what the expenses or performance) and very profitable for the underwriters and salesforce. It's the same as bad variable annuities or life insurance products.

I wouldn't buy a new CEF with my own money, and I wouldn't buy it with other people's money.

[quote]EVs closed end funds have done well, though at this point in the cycle many remain untested. Looking at EV's management on the open end side should add a level of confidence. The current crop of CEF come to market sans the NAV killing leverage that earned the field distain.[/quote]

The leverage was at most 1/3rd of assets (per the 1940 act). What got CEF's into disdain is the fact they are offered at a premium to NAV, and tend to trade at discount to NAV soon after the IPO. This has very little to do with the quality of management or assets chosen for investment.

The academic community is still unsure why CEF's trade at a discount but the main hypothesis is that the discount tends to converge on the present value of management fee's.

Covered Call CEF's were tried back in the late 1970s and failed for the same reason that they will fail today. The monetisation of upside via covered calls will cause the portfolio NAV to have a "downward ratchet" over time. As the portfolio errodes, the % of the portfolio covered will increase as will leverage to maintain the distributions.

[quote]A word about leading with product.

I specialize in wealth management through creative fixed income solutions for individuals such as yourself.

That line sounds terrific in a one on one meeting with a willing prospect/referral. On the phone. it's just another caller saying they are the best. It's impact is lost in the electronic haze.[/quote]

To paraphrase Goering:

"Whenever I hear the word 'creative' I reach for my revolver."

[quote] Leading with a product, we are fishing for a certain type of fish. With tax frees, that fish is the wealthy income investor. Who just so happens is exactly the same person who will benefit from my wealth management through creative fixed income solutions specialty. Only difference is I don't pull the specialist card until I have a seat at the table and the client's full attention. Leading with a product gets me a seat at the table. Leading with a service, even a good one, get's a place on the unemployment line.[/quote]

Well said. [/quote]

NFJ was up 31% in 2006 (including div. reinvest) and it was a lay up to buy in 12/2005.  It's not always about the IPO...

[quote=NOFX]

NFJ was up 31% in 2006 (including div.
reinvest) and it was a lay up to buy in 12/2005.  It’s not
always about the IPO…

[quote=AllREIT] [quote=NOFX]

NFJ was up 31% in 2006 (including div. reinvest) and it was a lay up to buy in 12/2005.  It's not always about the IPO...

[/quote]

We are talking about selling people new funds at IPO. Not selling them old knocked in CEF's trading at deep discounts.
[/quote]

Hmm...  I thought we were looking for good ways to make clients $ or start a relationship with a good story or product ... my bad.

[quote=NOFX][quote=AllREIT] [quote=NOFX]

NFJ was up 31% in 2006 (including div. reinvest) and it was a lay up to buy in 12/2005.  It's not always about the IPO...

[/quote]

We are talking about selling people new funds at IPO. Not selling them old knocked in CEF's trading at deep discounts.
[/quote]

Hmm...  I thought we were looking for good ways to make clients $ or start a relationship with a good story or product ... my bad.

[quote=joedabrkr] ]Still doubtful? Go to your b/d’s research platform

and input the symbol of a few of your CEF holdings, and see how much

research info you find. If there is any, it’s likely to be minimal. Why?

Well how much to the I-banker’s make after a deal is closed. ZIPPO![/

QUOTE]



Joe, you are dead-right. I have several clients with closed-ends, and I

usually end up going to EFTConnect to research them. It has much more

info than their own sites. This is the only site with much decent info that

I have found.

[quote=Broker24]Joe, you are dead-right. I have several clients with closed-ends, and I

usually end up going to EFTConnect to research them. It has much more

info than their own sites. This is the only site with much decent info that

I have found.[/quote]



The main CEF’s that I like are muni’s/TIPS/preferreds. Usually the
discount is so bad, that even after management fee’s yeilds are
competative with underlying instruments.



Unlike equity CEF’s you don’t have to worry as much about poor management.



CEF’ preferreds are also a very nice investment, since they are AAA rated yet yeild alot more than equivalent AAA debt.

Try this website - all kinds of info on closed ends:

http://www.closed-endfunds.com/

I have a sizeable brokerage account well into the 7 figures. Why would I want to buy an IPO closed end fund when 95% of the time it will be trading at a discount to the NAV shortly on the secondary market. As far as everyone badmouthing CD's, I have 6% cd's with wash mutual, try topping that with something that is guaranteed, and with the least amount of risk

[quote=M CANTO]

I have a sizeable brokerage account well into the 7 figures. Why would I want to buy an IPO closed end fund when 95% of the time it will be trading at a discount to the NAV shortly on the secondary market. As far as everyone badmouthing CD's, I have 6% cd's with wash mutual, try topping that with something that is guaranteed, and with the least amount of risk

[/quote]

I'm sure you had a point in there somewhere... We just discussed the benefits of buying CEFs in the after market and congratulations on your 6% CD and your 7 figure accounts. 

In my experience, the people who have the most $ are the last ones  to brag about it. 

I have a sizeable brokerage account well into the 7 figures. Why would I want to buy an IPO closed end fund when 95% of the time it will be trading at a discount to the NAV shortly on the secondary market. As far as everyone badmouthing CD's, I have 6% cd's with wash mutual, try topping that with something that is guaranteed, and with the least amount of risk"

This guy doesn't have a 7- figure account. And if he does, he probably isnt using an FA, so he will blow himself up sooner or later...

Your right I don’t use a FA  I have one  I used to be series 6 licensed many moons ago,  I do have a brokerage account with ML only to write covered calls. I used to used them for cd ladders but I rate shop and can do better on my own. I used to think my FA was looking out for my own interest until he recommended EXG on the initial IPO, now I’m not so sure. and yes the 7 figures is true, I had a Boars Head distributorship for years that I recently sold, worked for every dime of it

[quote=M CANTO]

I have a sizeable brokerage account well into the 7 figures. Why would I want to buy an IPO closed end fund when 95% of the time it will be trading at a discount to the NAV shortly on the secondary market. As far as everyone badmouthing CD's, I have 6% cd's with wash mutual, try topping that with something that is guaranteed, and with the least amount of risk

[/quote]

So go love your cd's and quit wasting our time. 

[quote=M CANTO]Your right I don’t use a FA  I have one  I
used to be series 6 licensed many moons ago,  I do have a
brokerage account with ML only to write covered calls. I used to used
them for cd ladders but I rate shop and can do better on my own. I used
to think my FA was looking out for my own interest until he recommended
EXG on the initial IPO, now I’m not so sure. and yes the 7 figures is
true, I had a Boars Head distributorship for years that I recently
sold, worked for every dime of it[/quote]



How much do you pay on commisions to do options at ML?



If you are serious about writing covered calls I would think OptionsXpress is much cheaper.

I buy cold cuts direct. Why pay some thievin’ ba$tard distributor?

No There is a differance Philo.  I was up at 3:30 in the morning doing an honest days work.  I am not complaining I got paid well.  I never tried to beat anyone.   I am not accusing anyone here either, as anyone looking to stay in any business long term would Have to do the right thing. I have a lot of money to invest and I used this site as a tool and found some of the replies uneasy to the investor. My cut on cold cuts was 17%  if you want to go direct Go to Rock Street in Brooklyn and you will save 1.70 on your 10 dollar order

A broker’s cut on a transaction is generally 1 to 2%. You didn’t need any

specialized knowledge, pass any qualification tests, or complete any

continuing education. Further, what makes you think that any of us don’t

put in long hours or do an honest days work?



17%??? That’s despicable. I don’t know how you live with yourself. There’s

a “differance” you say? I say thank God we’re different from you!



They should lock you up.

Philo  I apologize for disrupting the sight. I didn’t acuse you of being unethical or not putting in long hours. What I did say was that some of the respones on here were though   but that is in any business even mine. I had a bad experience, and I am not begrudging anyone from making a living  I know the hours of prospecting, continuing ed, marketing etc that goes on behind the scene, before the sales call.I don’t mind anyone making a commision but it has to be in Both our interests.  I don’t have the education in your field, need to take continuing ed. I do have a Business degree from Brooklyn College  which I know doesn’t sound like it is, but is a respectable school. As far as the 17%, I did lay out 1.25 million dollars for the business 14 years ago, which does entitle me to a good return, if I continue giving at least the level of service as the gentleman before me. I won’t respong back as I know this is a forum for you brokers

“As far as the 17%, I did lay out 1.25 million dollars for the business 14

years ago, which does entitle me to a good return, if I continue giving at

least the level of service as the gentleman before me. I won’t respong back

as I know this is a forum for you brokers”

************************************************************ ***********



How does the fact that you laid out $1.25 million entitle you to make 17%

profit? Entitle you? Laying out the money ‘entitles’ you to NOTHING but the

chance to run an ethical, profitable business.



I think you should go back to Brooklyn College and ask for your money

back.

I'm not going to argue Philo         You're right

[quote=M CANTO]

I'm not going to argue Philo         You're right

[/quote]

M Canto

You seem to be getting a lot of grief for a few minor offenses.  (Get used to it, on this forum we can be a bit rough, myself included.) 

Personally I do not begrudge you your 17%.  Many other industries have much higher gross and net margins than ours.  (and yours) 

I will give you a piece of advice, as your seem to be looking a bit. 

Go find a Financial Advisor that works on an hourly rate.  You can be sure you are getting unbiased advice and with the size of account you are claiming will save you thousands in fees.  If I were out of the business and had a low digit 7 figure account this is the type of advisor I would want.  It may be hard to find a good one, but ask for some referrals from all of your rich friends.   

Thank you for the advice Gad. I don't mind how rough it got as I am used to that. In my business I came across many people who disagreed, and I would explain my position without childlike name calling and what not. And in the end if we disagreed that was fine. I wouldn't resort to insults. Thanks for your professionalism