The SuperMan 2011 Business Log

superman what is the dfference btw prospect calls and cold calls??

Following your weekly  blog in 2011 with interest.

Me too.  But looks like you have fallen off.  It's been eight days.

I've been working an expo and will update tomorrow.

@repgirl .. Prospect calls are exisiting prospects in my system that I've spoken with.  Cold Calls, well you know.  I'm making an effort to call every prospect in my system over the next two months.

Week 2

Whew, glad it's over .. after working 7 days I'm clocked.  Of course I have 5 apts. set for tomorrow so no rest for the weary. 

My call volume was way down and I need to address that next week but it's loaded with apts from the last two weeks.  Going to be tough.  I made zero cold calls.   

Prospect calls: 175

Contacts: 68

Prospects Created: 18

New Clients: 3 - One large, one small, one mid-range but I feel like they will be large over time.

I did some solid face to face prospecting this week and picked off a six figure account from an Indy broker.  My pipeline is gaining strength but I need to do some more heavy lifting this week.  I've picked up a few referrals and should close a 250k plus account tomorrow.  My week 3 focus is calls and prospecting via f2f.

That contact ratio seems really good.  are these businesses or residential when doing cold calls?

Residential .. I'm only cold calling from 6:00 - 7:00pm, when I actually do it. 

Week 3

I'm so damn glad this week is over!   I got sick two days and hardly made any calls for the week.  Heck I didn't even track what I did.  Totally feel off the tracks. Will rebound next week.  I did create alot of clients but my pipeline is drying up with all the HHs I've added this year.  Can't wait for seminar season to hit in my office (spring)  I was able to do some doorking this week but wow it blew.

Clients Created: 4

Client 1: 150k wrap

Client 2: 80k uit, MF mix

Client 3: 105 fixed annuity, uit / MF mix

Client 4: 45k uit/mf mix

I would not have taken the last account however it was a walk-in and they were willing to take my advice.  My avg. account size is 80k and my rule of thumb is to accept no account less than that size. Call tracking will be back next week.

How are sales of the golf thingy going?  Can you keep us updated there also?

[quote=Prime Time]

How are sales of the golf thingy going?  Can you keep us updated there also?

[/quote]

The following is a post from SuperMan that completely debunks your above accusation.

[quote=SuperMan]

Actually, Stone, your responce and question is typical. I think we can infer by your question and avitar you are a black man.  Don't hijack a thread to press your agenda.  As a black man I am embrassed by young brothers like you.

[/quote]

First, why are you (and your compliance buddy) over here stirring the pot?

Second, either Superman is a liar or Primo is a moron. 

Third, who cares?

I don't care really but like I pointed out if SuperMan is a man of color as he claims then you have him confused with someone else. So he is either lying or you are a dumbass.

As for you coming over here, we do not mind so long as you contribute as opposed to chasing Volt and ML around like you are an adolescent.

I don't care really...   And yet you keep  posting.   Hmmmm.

As for you coming over here, we do not mind so long...  I have been here far longer than you, but thanks for permission anyway.  I needed a laugh this morning.

as opposed to chasing..... I don't recall saying anything concerning you in the slightest.  Aren't you doing exactly what you are saying I should not be doing?  It just gets better and better.

I'm lost...

Back to the log ... I'm in the office today planning me next week.  My goal is to be more centered in my prospecting.  Know the who, where, and when for each day - rather than doing it on the fly.  I'll post my results Friday or Sat.

[quote=SuperMan]

Back to the log ... I'm in the office today planning me next week.  My goal is to be more centered in my prospecting.  Know the who, where, and when for each day - rather than doing it on the fly.  I'll post my results Friday or Sat.

[/quote]

Make it happen!

[quote=Prime Time]

1. I don't care really...   And yet you keep  posting.   Hmmmm.

2. As for you coming over here, we do not mind so long...  I have been here far longer than you, but thanks for permission anyway.  I needed a laugh this morning.

3. as opposed to chasing..... I don't recall saying anything concerning you in the slightest.  Aren't you doing exactly what you are saying I should not be doing?  It just gets better and better.

[/quote]

1. Third post not really obsessed yet. Besides I asked why you were here stirring the pot as you know you are doing with your golf thingy post and others. I do not care you are here unless your intentions are to ruffle feathers of those you banned from your world regardless if your reasons were valid or not. Those people are gone from your world and best I can tell no longer causing you and your community issues.

2. You left this site for reasons I am guessing are valid but now for whatever reason you have chosen to be a troll here as you know the golf post clearly is a perfect example of a post made by someone trolling a forum. I challenge you to be a positive member to both sites and end your provocation.

3. As for the chasing, I simply pointed out that there the comment you two have made creates an obvious contradiction. It could have supported your accusation or not. If I were chasing you I would post your other stabs to incite our members but I do not care that much.

SuperMan, I apologize for the hijack and will not reply AGAIN regardless of Primo's rebuttal. Good luck on your business plan and keep us updated on its progress.

Week 4

Landed a whale.  Not else much to talk about after that ... but I'll tell the story.  He was a referral, made a run at him 6 months ago and have dripped on him since.  Sent personal notes, phone calls, and mailings.  Called me Monday and asked if he and his wife could stop by my and meet with me that day.  Three hours later - SOLD!  Also picked up a smaller account later in the week and wondered why the heck I dabble in accounts under a 100k.

New Contacts: 12

Plan for next week.  PROSPECT.  My Feb. and March should be done.  Filling my pipeline is my number one priority.

Jan Results - 16k gross and 500k new money.  Already beat the new money for Feb. by a wide margin. YEAH!

dude...great job man. 

What is your pitch and your sales process?

[quote=SuperMan]

Week 4

Landed a whale.  Not else much to talk about after that ... but I'll tell the story.  He was a referral, made a run at him 6 months ago and have dripped on him since.  Sent personal notes, phone calls, and mailings.  Called me Monday and asked if he and his wife could stop by my and meet with me that day.  Three hours later - SOLD!  Also picked up a smaller account later in the week and wondered why the heck I dabble in accounts under a 100k.

New Contacts: 12

Plan for next week.  PROSPECT.  My Feb. and March should be done.  Filling my pipeline is my number one priority.

Jan Results - 16k gross and 500k new money.  Already beat the new money for Feb. by a wide margin. YEAH!

[/quote]

Good job, and right mindset....always get and stay way ahead of the curve!

How big is your "whale"?

@ newregrep  -- Nothing fancy.  High touch serivce and comprehensive advice,  I'm not process oriented enough mostly because I'm still trying to figure out how I want to build this thing.  When I find low hanging fruit they make my HOT PROSPECT list and I work the heck out of them until they blow me off or turn into clients.  Right now there are about 46 prospects on the list ... I mean to double that number by the end of Feb.

@ 7 Figs - - 750k+  probably not huge for some but cracks the top 5 for me.  I'm meeting with a referral Thursday that told me on the phone he's got 3mm in cash and really needs to consolidate his assets.  That would be huge for me.

Doorknocking, I go....

SuperMan,

Are you in a small town or metro area?

How do you prospect?

What's your cold-call like?

Anything else you believe makes a difference concerning your marketing process...

superman,

great numbers. how muc h do u have in aum with the 48 accounts.  also what do u do in the day if u only call at night.

@ youngbuck - I don't market, I prospect.  I meet people via DKing, cold calling, events, and semianrs and have a business conversation with them.    My cold call script is as follows:  Just calling to into myself, I specialize in helping people enjoy the retirement they deserve and estate planning.  Let me ask you, are you working with a local advisor?  .. i then shut up and let it go from there.  (that is not word for word but close enough) .. Young, I think the biggest difference between me and my peers is I chase the money, like a dog with a bone. Small town, btw.

@repgirlnj - Where did you get 48 accounts from?  All in, I have just north of 12mm AUM.  I screw around 8 out of 10 hours I work each day.  Seriously.  My goal is to be at work 8 hours and work half of them by April.  Just got back from doorknocking and I'm headed to an appt. - then 10 more calls. So I'm getting closer to reaching that goal. 

Where I live you will either get arrested (nice neighborhoods) or shot (bad neighborhoods) for knocking on people's front door.  Truth. 

Nice start to the blog.   Congrats on the success!

Question: Your script " My cold call script is as follows:  Just calling to into myself, I specialize in helping people enjoy the retirement they deserve and estate planning.  Let me ask you, are you working with a local advisor?" .... I might be wrong in saying this, but does that allow you to call people on the DNC list as well?  It's really not a sales pitch.  

@ Who do you know - I can't answer that.  I do my best to follow the rules. What I "think" though about the DNC is people that are on it do not want calls from telemarketers or guys from India calling them, local business people calling to introduce themselves tend not to fall in that category.

@ Young, I've heard that same line from other guys, think it's BS.  Know a guy that DKed in NYC with no issues he is still in the business and doing well from what I can see.  Also know guys that have done it in DC, Baltimore, and Miami. Since when is knocking on a  door and introducing yourself a criminal offence.  Get more targeted.  Buy a list and DK the people on it.  Drive right up to their damn door, get out, and give them your card. What is the alternative?  I'd rather listen to Jim Rome as I prospect than sit in the office.

Week 5

My first week of the year with no new clients.  I had some great appointments this week and did have a prospect call me to say they are going to do business with me.  It's a small six figure account but still a nice cherry on top of an otherwise good month.  Met with a prospect that would / will be my largest client.  Think I have a really good shot at landing him.  Time will tell.

Prospecting, I'm back in the game and damn am I rusty!  Had to write out my script and practice in front of  my mirror.  Good to be back out knocking on doors though.  I'm using the Nick Murray method of prospecting, focusing on activities and not results + building my baseline back up.  Right now, that's 10 doors a day. In two weeks I'll move to 12 doors per day.  Only knocking four days a week though.

DKs: 40  .. and wow did my contacts blow. 

Hey Superman great posts, I'm hearing so much about Nick Murray. wether it be podcast or reading about him registered rep. which book are you referring to?

Also do you purchased list or do you create your own?

Week 6

I'm glad this week is over.  One more appointment to go and it's beer Friday.  My 4pm today is with the big dog prospect , it's a 2nd appointment so I'll comment after this if we end up working together.  I had alot of trouble getting motivated this week - mostly because it was a great week for closing business and getting new business from exisiting clients.  It is however going to hurt me later in the year I guess.  I ended up adding two new clients this week and increasing my relationships with two others.

Client 1 - already had about 100k with me.  She bought some LTCi and rolled over  400k+

Client 2 - already had about 125k with me.  We 1035 a 70k annuity

New Client 1 - 125k with another 200 per month into a roth

New Client 2 - 14k plus another 200 per month into a roth - she has another 300 in a 401k and plans to retire in two years. 

A good week but I let myself down on prospecting.  BOA had a sick kid one day and we had snow another - should have done more though.  Have a seminar planned next week and its firming up nicley. 

Just a random thought on exisiting clients - wow, there is alot of opportunity to be had if you've never went deep with them.  I've been so focused on gathering $$$ I've missed the insurance side. 

@LIU - I buy a list.  I'm lazy. I bought a Nick Murray book called "the game of numbers"  My fav. book is still "The Million-Dollar Financial Services Practice

Damn dude, you're a rockstar...

Where do you get your lists? or do you build them yourself?

What is your pitch?!

I've been cold calling with bonds, but want to change the pace up a bit.

My pitch is listed within the thread..  My primary prospecting method is seminars.  I like rollovers and dealing with people in the late fifties and early sixties.  Once I get them I work them like crazy for referrals.  People at work who are also thinking about retirement.  People that started when they did.  Who do they talk about invesments or the market with?  You get the point.  They get a call and invited to a seminar. 

The last list I purchased was from colelists.com  -- very inexpensive but not as sortable as some others.  Just do a google search and you'll find tons of list providers.

I usually make my own list, but I want to purchase a batch from a reputable dealer, so this way I can do a bit of both.

I have not pithced service yet, I always pitch a product and try to close over the phone, and if not I'll pitch for an appointment to see how it all fits into their portfolio.

I will mix my day with your method and see how it goes.

I use the lists for two reasons, seminar invites and targeted door knocking.  My problem with cold calling is the DNC and my follow up sucks.  So, when I'm out DKing people its easier for me to seperate the wheat from the chaffee.  Plus on a day like today it's going to be in the mid 60s here and I have a chance to listen  to sports radio and be outside just a bit.

Good luck - I'm off to knock on doors.

Great attitude, Super! I’m very much enjoying your blog. I started the same way you are, from scratch, and I’m up to $700K T12. You will be at 700K sooner than you think, if you keep up the same process week after week. Good luck!

Lew

Week 7

I had a seminar Thrusday so I'll focus on that.  20 people attended.  It was a canned Jones seminar about retirement.  Of the 20 there were 10 couples, two were already clients.  Five solicited me after the event to schedule appointments my first of which is tomorrow.  The seminar was held at a nice place and we bought them a nice meal.  6:00 - 7:30pm.  I had a wholesaler, he talked for 15mins and I did the main presentation. 

I hate doorknocking.  It works - don't get me wrong.  I just hate trying to find people at home.  I've decided to go all in on the seminars and make them my primary method of business generation this year.  Added another 6 to my already packed schedule. My only issue is I'm land locked.  Office in a small town surrounded by three larger ones with EDJ offices already there and I'm worried about diminishing returns for my small pool.  I know we don't have "territiories" but we do! Drives me crazy, it's the only reason I'd really want to leave my firm.  Hate being locked into one city from a seminar prospecting perspective. 

Wow 5 follow ups?! Amazing dude..

I'm starting a new campaign in a week for March-May, and I will keep a separate journal here as well...I agreed with some fellows in this site ot keep a journal through gmail but I have not followed up which I feel terrible about. 

Excellent, I look forward to reading that. As for my seminar - check out advisorcontrol.com - they recorded one of their seminars and I used alot of the same ideas.  (not material but approach)

Here is a quick mid-week update:  Wow, this is a game of ups and downs.  Yesterday I had an great day by all accounts.  Landed two new clients.  One so small I should have walked away and another one 500k+ with clients I really enjoy.  However, I felt totally discouraged.   I though great, I've gotten them as clients but now I need to find a replacement in pipeline.  The grind takes it toll.  I was wondering when this blood sport will get less bloody.  Today I called the multi-millionaire I had been chasing to get an update if he liked my plan and BAM .. we are doing business.  HECK yeah. My BOA told me to stop high fiving her because her hand was getting sore. Not sure the game is any less bloody today but it does feel good.  2011 is off to a heck of start... hope I can keep it up.

What approach did you use from advisorcontrol.com ? The seminar video he has on there is the ivy league portfolio concept. Can you do that at jones?

Please reread my post, I never said I used his material.  As for approach - his style, timing, etc. etc.   Good stuff, imo.

SuperMan , this is great stuff. Thanks and keep it up.

[quote=newregrep]

I usually make my own list, but I want to purchase a batch from a reputable dealer, so this way I can do a bit of both.

I have not pithced service yet, I always pitch a product and try to close over the phone, and if not I'll pitch for an appointment to see how it all fits into their portfolio.

I will mix my day with your method and see how it goes.

[/quote]

I still have yet to read a post from someone who was glad they spent money on a list. Seems like everyone throws $300 out the window and never does it again. Spend 12 hours this weekend creating your own. Last weekend I googled "dentist __(my city, state)__" and made a spreadsheet with roughly 200 names and numbers. Left a few messages on the dentists' general office line, had a call back Monday morning from a guy practicing in a surrounding city (not even the city I was calling from!) wanting more info on the 5% tax free bond I briefly mentioned on his answering machine.

Efficient? Nope. Effective? Absolutely. Absolutely mind numbing but with some music and some cold beverages on a Saturday afternoon, it's not so bad. Do that every weekend and before you know it, you've saved thousands of dollars, and you end up with 5000 names/numbers far better than the ones you'd buy.

Week 8

Well, the rest of my year in seminars has been planned out and I've decided to ignore the fake territory lines that exist in other Jones brokers and target prospects within a 15mile radius of my office.  Prior to this I had only went after people within my city limits.... no longer.  I expect alot of sideways glances at regional and other meetings but they've never wrote me a paycheck, offered me help, or even are doing seminars themselves so all is fair.

As for my week - wow do I need a vacation.  I realized last week that since I've started I've never really taken anytime off.  Sure two / three days here and there but never an entire week.  Need to resharpen the saw. 

Feb. results:

17650 gross

New Account bonus (which I share with my BOA)

Big week ahead.  Lots of appointments and an event I'm participating in at the end of the week.

.... AS FOR A LIST.  They work.  Buy a book called the four hour work week and you'll soon learn why you should not waste your time on crap you can pay someone else for.

Super.. nice month and I applaud you for posting your results..

How much of your gross was due to new clients contacted in this month or last? Just curious..

Keep it up Super!  I am enjoying the read.  I am about to start my own prospecting campaign so thanks for sharing the "good gas"!

@ Squash - to be honest I'm not sure.  I wish I had better metrics to track this stuff but don't.  15k worth of commissions came from new business. 

17k holy crap! You did double what I did!  congrats dude, I have no doubt in my mind you will succeed. 

Just a quick update ... I've decided to impliment a points system into my daily activites.  I've done it before and it works for a little while so I figured why not. 

25 points per day

1 call = 1pt

New Prospect = 3pts

Appointment Set = 5pts

(one score from each points total is required before I leave)

I realize my points goal is laughable but you've got to start somewhere and I've been so lazy I want to meet my goal and then move up.   FIRST CALL - 25k Bond UIT order!!!  It'll never happen that way again but feel like bragging.  24 more points to go... cya!

[quote=SuperMan]

Week 8

Well, the rest of my year in seminars has been planned out and I've decided to ignore the fake territory lines that exist in other Jones brokers and target prospects within a 15mile radius of my office.  Prior to this I had only went after people within my city limits.... no longer.  I expect alot of sideways glances at regional and other meetings but they've never wrote me a paycheck, offered me help, or even are doing seminars themselves so all is fair.

I would imagine the region penetration report would shut them up......0.75% shouldnt give anyone the right to look sideways at you...keep fighting!

As for my week - wow do I need a vacation.  I realized last week that since I've started I've never really taken anytime off.  Sure two / three days here and there but never an entire week.  Need to resharpen the saw. 

Feb. results:

17650 gross

New Account bonus (which I share with my BOA)

Big week ahead.  Lots of appointments and an event I'm participating in at the end of the week.

.... AS FOR A LIST.  They work.  Buy a book called the four hour work week and you'll soon learn why you should not waste your time on crap you can pay someone else for.

[/quote]

Cold calls are still effective nowadays.... though you will get a less percentage of prospects but at least you got a few from a hundred calls. :) great business log :-)

Week 9

Landed a 400k client I've been working on since Sept. last night.  For those of you just starting out this could be a good lesson.  She has about 30k outside of her 401k and the rest locked up tight with her current 401k plan.  Since she is over 59 1/2 we did an inservice withdraw.  SWEET!   75k into a VA for lifetime income and the rest into advisory solutions.  Also sold some other stuff to exisiting clients - Just now doing my first real annual reviews with clients. 

As of yesterday we mailed out 1200 seminar invitations for my second seminar of the year.  I expect 20-25 people to attend.  I'll be prospecting all weekend at a local event - have a table and will be on my feet all weekend.  Just need 2-3 clients to make it worth it and that's usually not a problem.

My points system worked.... FOR TWO DAYS!  Vacation is planned very soon and damn am I ready to go.  All in all it was a good week that once again needed alot more activity.  There is a reason I'm not doing 25-30k per month and I'm looking at it in the mirror.

Superman,

How long have you been in the business?  Also, what percentage of your monthly revenue is fee based recurring revenue vs one time commission? 

@TwoTwelve .. About two years.  31% of my book is fee based currently - plan to keep increasing that % and it's easier to do every month since I have a bit of a base under me.  Tough to build a fee based business at Jones since our salary only last 1 yr.

SM,

You're right about building an advisory busienss.  It's the primary reason I left JOnes.  I could not build my advisory business and make a living at the same time.  In the last 6 months at Jones, I put like $4mm into AS, and my production sucked.  But Jones does not recognize assets gathered, only the production screen.

How are you getting people to attend your seminars?  Are they all cold invites?  Do you call to follow-up, or just mail and hope?

Week 10

I spent most of the week getting ready for a vacation but managed to squeeze a little business into the mix.  Ended up with one new client.  We fully funded husband and wife Roths for 2010/2011 - plus they are retiring at the end of April so there will be another 350k behind that. Also had some nice appointments that should yeild some good results for May. 

Our seminar next week is shaping up to be pretty good with 14 confirmed so far.  I expect to add another four before it's all said and done.  Our process is pretty simple.  We talk about seminars and events everytime we talk to a prospect.  We also cold mail.  I expect to send over 10,000 pieces of mail this year.  We mail about three weeks before the seminar and then if we are a week and half out with not enough confirmed we hit the phones. My family helps with stuffing the envelopes, etc. etc.  We buy a nice meal at a good place.  Seminars move people up the trust meter almost as fast as a referral.  Again, watch the videos on advisorcontrol.com and read some of the infomation here.  Good stuff.  Just have a process.  Mail like crazy and make it happen.

I'm logging off for the week!

Alright...  Week  11

I was on a div. trip with Edward Jones.  After catching up on my jet lag wow do I feel better.  I'm taking a week off every six months no matter what.. going forward.  As for the trip, it was terrific.  I've heard alot of bad things on here about them but mine was nice.  Didn't spend much time with the Jones people, did my own thing, and got to stay at a great place and see a new country.   Anyway, I really had the time to reflect on building my business and how to better serve my clients.  I did that on the plane ride home.  TGIF, I need some sleep!

[quote=SuperMan]

Alright...  Week  11

I was on a div. trip with Edward Jones.  After catching up on my jet lag wow do I feel better.  I'm taking a week off every six months no matter what.. going forward.  As for the trip, it was terrific.  I've heard alot of bad things on here about them but mine was nice.  Didn't spend much time with the Jones people, did my own thing, and got to stay at a great place and see a new country.   Anyway, I really had the time to reflect on building my business and how to better serve my clients.  I did that on the plane ride home.  TGIF, I need some sleep!

[/quote]

where did you go?

liar

[quote=volt]liar[/quote]

great 1st post...welcome to the forums. it appears you will be a valuable member.

great 32nd post dbag. my old name was voltmoie but I kept getting my password reset by those pricks at the other forum where people apparently still go. I have several hundred more posts than you. Besides the fact that this piker contradicts his own production lies within the same thread and beats his girlfriends, you keep looking up to him and drink up that kool aid bud.

nope, not drinking his kool-aid or looking up to him. however, i don't think that calling someone a 'liar' without proof is a great contribution. nor is calling anyone a 'dbag'. it's all good though, i'm on the board to gain and give help, not call names.

[quote=j20a00g]

[quote=volt]liar[/quote]

great 1st post...welcome to the forums. it appears you will be a valuable member.

[/quote

]

Jealous much Volt?  I know for somewhat of a fact he's killing it.  I am sure Sup will take your dbag of a comment as a compliment though.  It's got to feel pretty good to know you are doing so well that people can only comprehend your #'s as a lie.  Keep up the good work Sup.

Update?

[quote=j20a00g]

nope, not drinking his kool-aid or looking up to him. however, i don't think that calling someone a 'liar' without proof is a great contribution. nor is calling anyone a 'dbag'. it's all good though, i'm on the board to gain and give help, not call names.

[/quote]

Go to page one and reread Supermans posts.  Mentions average account size is 80k and then he all of a sudden has 48 accts with 12mm.  12mm divided by 48 is 250k which is an AVERAGE.  That would be proof.  Or a complete misunderstanding of what an average is.