Merrill's 100 people list

Don't put Brad Pitt on your list, everybody puts him on the list--usually down around thirteenth--as some sort of subliminal deal.

Sort of like flashing "Popcorn" on the movie screen so fast your can't really see it.

Put down everyone you know from any clubs, organizations and business relationships.  If you even slightly know the owner of a business put them down as a possible retirement plan prospect and for personal investments.  Any teachers you know as 403B prospects.   People you know who have jobs and may be close to retirement as roll over IRAs.  Young people with children for college planning.  The mechanic at your garage as an IRA prospect.  The retired lady down the street as a prospect for fixed income investments. So on and so on.

Do they want you to detail exactly what investment or just a general idea?  So they want you to put down how much the investment could be or just a general idea?

I have never worked at Merrill but I am guessing that they want you to be able to mentally scan through your acquaintances and through prospects you meet and be able to immediately come up with several business/investment opportunities that you can approach them with.  After you are in this business for a while, you will look at everyone you meet and size them up for just what approach and what investment would generate their interest and make them want to do business with you. 

Babs… Good advice…

That’s true.  I size everyone up now.  They start to pick my brain and I say the right things to get them curious enough to see me at my office.  I invite everyone in my niche market onto my electronic newsletter.  I get a 70% of my calls turn into appointments.  50% of appointments into clients.  100% of my clients into cash value life insurance cause they love it!

Thanks for all the responses. If anyone else has anything to add that would be great. So far I have 30, need 70 more, due Thursday. I will be back if I have anymore questions. I just can not say how much help this forum has been. Thank you and have a nice day.

Choida...

Get out the yellow pages and look at each heading and ask yourself..."Who do I know that is a _______ or who works for a ______?" 

You will have your 70 in no time.

[quote=choida]Thanks for all the responses. If anyone else has anything to add that would be great. So far I have 30, need 70 more, due Thursday. I will be back if I have anymore questions. I just can not say how much help this forum has been. Thank you and have a nice day.[/quote]

I used to not understand why these big companies want us to churn our friends and family...but now it is more clear why.  It works in favor of the company if you fail, they at least acquire some of your accounts.  This biz is about relationship and building many of them.  You don't have to pay for leads, advertise, etc...  Your connections with others is gold.

Nice advice guys. Now I am up to 60. Anymore help would be much appreciated. Anyone know much about Merrill? What the next step will be? What are they goint to do with the list I create, what are they going to talk to me about when I bring it in? Thank you.

"Nice advice guys. Now I am up to 60. Anymore help would be much appreciated. Anyone know much about Merrill? What the next step will be? What are they goint to do with the list I create, what are they going to talk to me about when I bring it in? Thank you."

Merrill is the enemy. Stay away. They will chew you up, work you to death, then spit you out. They are merciless, cutthroat, and not to be crossed.

They will ask for your list, tell you to go interview with some sales manager, then give your list to their best cold caller in the office. He will have great success qualifying your leads, then invite your prospects in for coffee and a chat. Your leads will leave the office and get on the elevator holding new account forms, and the FA will be inputting their ACAT forms.

When you are done with your interview, ML will kindly tell you that they will get back to you. You will walk out confidently thinking you got the position... They will never call you back...

Can anyone else justify what blarnston said about Merrill? Is this true, I will just be taken for a ride. I sincerely felt the branch manager was being upfront with me. Are they just going to take my list and broom me aside? If this is so, why should I even bother going to meet up with him again.? I hope this is not true.

Choida… Get your bull$hit radar up. I was just messing with you.

Well my bs radar may not be good, but i bet 99/100 rookies would have felt for it. I mean, I still believe what you said earlier. It maybe something that may happen. Who knows? You mentioned it for a reason, so it has a possibility of being true. I just don’t want to taken for a ride. They can have my list, just wanna avoid wasting time and effort.

Keep your list with you, show it to him, but keep it with you,

Thats what I would do. I have often heard that ML managers don’t hire
you unless you have some people to pull from. This is why it is often
hard for new guys fresh out of college to get hired, and even make it.
I would have as many contacts on the list as possible. Hopefully you
know some pretty good contacts b/c if you don’t its going to be a 
tougher route. I’ve had a list for 2 yrs now and everyone on there I
know for a fact has at least 250k in investable assests if not 500k or
a couple million. Are all those people going to invest with me when I
get hired on somewhere, no, but some will. And that will be a d— good
start. I would play the numbers, at least one of your people out of 20
should do business, so I would get as many contacts as possible. Start
going to after hours functions, chamber of commerce, clubs,
organizations, think of it like your a politician. Shake hands and kiss
babies, your their financial advisor baby, whether they know it or not.

Also

I haven’t heard of anything about what Blarm said,

but, it is common practice if a rookie fails they take his assests and

disperse it around. That means you have to make it, no matter what. Its
not a 40hr a week job, its 70+ hr week and you work your a-- off for a
few years. Then you pretty much work off refferals and just manage
money, the hunter will become the hunted, that is the goal, people you
couldn’t even talk too a few yrs earlier will be coming to you. If you
do well, but if you don’t you will be another failed broker. I would
start listening to self motivational cds, like Paul Tracy, Tony
Robbins, etc. That stuff works, get yourself in the right mind-frame.
Then you will do it.

Another piece of advice I would give you is exceed what is expected of you, in all things.

Don't turn in 100 names, but rather, turn in 200 names plus a list of business owners in the area. (You might have to purchase a list. Is the job worth this expense? You decide.)

If the interviewer asks for a 6-month business plan, turn in a 12-24 month business plan. Even better, if you want to really impress him/her with something they rarely see, turn in a business plan on how you plan to market yourself during training (before licensing). Can't market yourself until after licensing? No problem. Become a "Goodwill Ambassador" for the Chamber of Commerce during your training period. This will allow you to go out and meet Chamber members (read: Business Owners - a.k.a.- prospective clients). Why do this pre-licensing? So, you'll have a leg-up on gathering assets when you get licensed. Do the math: (Assuming 26 business days/month [Mon-Sat], 2-month pre-license period, 25 face-to-face contacts per day equals 1300 prospects you've personally met by the time your first day to sell has arrived. (Take copious notes after each meeting!!)

When will you study for the 7? In the early morning and at night.

Of course, passing the 7 is the priority and if you're having trouble with the practice exams, scale back marketing yourself and ramp-up study time.

But trust me on this, if you can manage to have met with 1000-1300 business owners by day one, your start as a licensed trainee will be much easier.

Remember, to get this job and to keep this job, exceed what is asked of you.

Dobs… Great post…

thanks for the post guys. i think the next three days I will go knocking on businesses doors and introducing myself, and writing their information down. Screw 100, i will make sure there is at least 150 on that list. thanks for the motivation. if there are any more posters who want to contribute, please feel free. I LOVE THIS BOARD. thanks

Choida

Learn to capitalize the first letter of a sentence.

Coming in with a list of names indicating that you cold walked a few streets, while meaningful, does not reflect a strong network so much as a willingness to cold walk in an attempt to get the job.

That's good, it shows a certain ambition--but the reality is that lots of young kids have ambition.  But think of what the manager is going to think when you show him/her a list that reads, "Mr. John Jones, Main Street Cleaners, 123 Main Street, 234-0987" then "Mr. Mike Smith, Main Street AlphaGraphics, 127 Main Street, 234-8710" then "Mr. Bob Norton, Norton's Florist, 131 Main Street, 234-9192" and so forth.

A brutal reality of the bring a list drill is to get the young person to realize how few people they know and to dissuade them without discouraging him.

I think the mere fact that Choida did not realize that his/her chain was being pulled indicates immaturity.  This is a business that eats the immature as an appetizer.

Choida--go build your network by selling insurance.  The fact that you had to ask how to get 100 names on a rough draft of a prospect list is PROOF that you're going to be pissing into the wind and why would you want to do that?

For the experience NASD Newbie. That is why I would want to piss in the wind. Even pissing in the wind takes talent, and I think it is worth a shot in my case. I think it doesn’t hard to give it a shot, and considering I will be faced by tons of people by trying to “dissaude” me. That alone is pure motivation for me to build upon. I am still going to turn in this list, and want to see how far I can get.

[quote=choida]For the experience NASD Newbie. That is why I would want to piss in the wind. Even pissing in the wind takes talent, and I think it is worth a shot in my case. I think it doesn't hard to give it a shot, and considering I will be faced by tons of people by trying to "dissaude" me. That alone is pure motivation for me to build upon. I am still going to turn in this list, and want to see how far I can get.[/quote]

That's what is so great about the country--we can all make stupid mistakes.

Child, I did not say you cannot make it.  What I said was if you had to ask "How can I fudge a list of 100?" you don't have an ice cube's chance in hell.

Think about this.  If you had a shot you would have signed on to this forum and asked, "I am being asked to bring in a list of 100 prospects.  Do I have to stop there, I think I have at least 1,000?"

But nope you came looking for help in coming up with more than a couple of dozen names--you were joyous at the thought of turning in an essentially meaningless list.

I suggest the manager will toss you out on your ear if you turn in a list of names obtained by walking down the street--do you think that manager is so stupid he or she won't know what you did?

Nice Post Doberman

Thank you all for contributing to this post. I have 70 and am going to Chamber of Commerce and an entrepreneuship center, old networks from college. I think I will have at least 100. Thank you all for contributing and also those who throw salt. Thank you.

One thing I overlooked for sure when I started was warm networking. I used to cold call, buy leads, and cold walked.  None of them worked well for me.  Cold walked may have worked, but I walked too fast and didn't build the rapport that was needed.  Afterall, we do what advertising dollars and call centers can't do effciently is build relationships.  That's why agents/advisors have not been replaced.  Keep expanding your list, nurse them, and work them.

[quote=JimmytheRocker]That's true.  I size everyone up now.  They start to pick my brain and I say the right things to get them curious enough to see me at my office.  I invite everyone in my niche market onto my electronic newsletter.  I get a 70% of my calls turn into appointments.  50% of appointments into clients.  100% of my clients into cash value life insurance cause they love it![/quote]

So Ameriprise is the place for you.

What is the fit for cash value life insurance?  Aren't you just selling it for the commission?

[quote=choida]Thank you all for contributing to this post. I have 70 and am going to Chamber of Commerce and an entrepreneuship center, old networks from college. I think I will have at least 100. Thank you all for contributing and also those who throw salt. Thank you.[/quote]

100 leads.  Stop. Quit. 

You can't even come up with 100 leads?  How do you expect to bring in $6million in assets your first year?

[quote=vbrainy]

[quote=JimmytheRocker]That's true.  I size everyone up now.  They start to pick my brain and I say the right things to get them curious enough to see me at my office.  I invite everyone in my niche market onto my electronic newsletter.  I get a 70% of my calls turn into appointments.  50% of appointments into clients.  100% of my clients into cash value life insurance cause they love it![/quote]

So Ameriprise is the place for you.

What is the fit for cash value life insurance?  Aren't you just selling it for the commission?

[/quote]

I sell the prospect on the living benefit of cash value life insurance. Commissions keep me in the biz.  I shuffle through the people who don't see eye to eye with me.

[quote=vbrainy]

[quote=JimmytheRocker]That's true.  I size everyone up now.  They start to pick my brain and I say the right things to get them curious enough to see me at my office.  I invite everyone in my niche market onto my electronic newsletter.  I get a 70% of my calls turn into appointments.  50% of appointments into clients.  100% of my clients into cash value life insurance cause they love it![/quote]

So Ameriprise is the place for you.

What is the fit for cash value life insurance?  Aren't you just selling it for the commission?

[/quote]

I am a commission based planner.  I'd be a fool to not be in it for the money.

You are not a planner, u are an agent

Planner/agent/consultant.

Be all you can be

bankrep, the Dow might very well hit 12000, soon, and google might hit 500

[quote=JimmytheRocker][quote=vbrainy]

[quote=JimmytheRocker]That's true.  I size everyone up now.  They start to pick my brain and I say the right things to get them curious enough to see me at my office.  I invite everyone in my niche market onto my electronic newsletter.  I get a 70% of my calls turn into appointments.  50% of appointments into clients.  100% of my clients into cash value life insurance cause they love it![/quote]

So Ameriprise is the place for you.

What is the fit for cash value life insurance?  Aren't you just selling it for the commission?

[/quote]

I am a commission based planner.  I'd be a fool to not be in it for the money.

[/quote]

You sell it based on the cash value they can pass on when they die?  You call yourself a planner?  Death is just one life event.  College planning, retirement planning, estate planning, legacy planning those are things a financial planner does.

If you are selling just one product, based on getting a high comission, you are DIRT.  I hope you get fired.

It is OK to make money in this field, when we do the best for our client.  There are very few fits for VULs.  They have VERY high expenses and sales charges.

Do you believe in sin?

Nice information guys. Thank you for the valuable advice. I got a call to sign one more paper needed for the hiring process and she needs my SSN and drivers license copied. Start in two weeks. What should I expect in two weeks, training, meetings? Thank you

[quote=vbrainy][quote=JimmytheRocker][quote=vbrainy]

[quote=JimmytheRocker]That's true.  I size everyone up now.  They start to pick my brain and I say the right things to get them curious enough to see me at my office.  I invite everyone in my niche market onto my electronic newsletter.  I get a 70% of my calls turn into appointments.  50% of appointments into clients.  100% of my clients into cash value life insurance cause they love it![/quote]

So Ameriprise is the place for you.

What is the fit for cash value life insurance?  Aren't you just selling it for the commission?

[/quote]

I am a commission based planner.  I'd be a fool to not be in it for the money.

[/quote]

You sell it based on the cash value they can pass on when they die?  You call yourself a planner?  Death is just one life event.  College planning, retirement planning, estate planning, legacy planning those are things a financial planner does.

If you are selling just one product, based on getting a high comission, you are DIRT.  I hope you get fired.

It is OK to make money in this field, when we do the best for our client.  There are very few fits for VULs.  They have VERY high expenses and sales charges.

Do you believe in sin?

[/quote]

I find people who are perfect candidates for cash value life insurance.  There are many people who don't qualify for it.  A heavily funded VUL does wonders for the right client.  I have a specific target market I work with.  I don't try to be everything for everyone.    Nothing dirty about that. 

What is the profile of the “perfect candidate” for cash value life insurance?

36-24-36 blonde

36-24-36?

Only if your 5'3".

Who is on my side on this one?

What difference does that make?  Do you decide what a perfect customer for cash value life insurance is based on a poll?

Do you live on the forum?

No, but I’ve been to the Forum in Rome several times.  Have you ever seen it?

[quote=Knows Wall St.]No, but I've been to the Forum in Rome several times.  Have you ever seen it? [/quote]

Rome Georgia. Floyd County, the enchanted land. Great place, B-52 country. I can't see you fitting in there but......

[quote=Knows Wall St.]What difference does that make?  Do you decide what a perfect customer for cash value life insurance is based on a poll?
[/quote]

I check for hair color and waist to hip ratio.

[quote=BondGuy]

[quote=Knows Wall St.]No, but I’ve been to the Forum in Rome several times.  Have you ever seen it? [/quote]

Rome Georgia. Floyd County, the enchanted land. Great place, B-52 country. I can't see you fitting in there but......

[quote=Knows Wall St.] [quote=BondGuy]

[quote=Knows Wall St.]No, but I've been to the Forum in Rome several times.  Have you ever seen it? [/quote]

Rome Georgia. Floyd County, the enchanted land. Great place, B-52 country. I can't see you fitting in there but......

[/quote]

You might be surprised.

For what it's worth--B-52 Country is actually Clarke County Georgia, on the other side of the state.
[/quote]

B-52 country is relative. Georgia's a small state. And for what it's worth, nobody cares.

[quote=BondGuy][quote=Knows Wall St.] [quote=BondGuy]

[quote=Knows Wall St.]No, but I've been to the Forum in Rome several times.  Have you ever seen it? [/quote]

Rome Georgia. Floyd County, the enchanted land. Great place, B-52 country. I can't see you fitting in there but......

[/quote]

You might be surprised.

For what it's worth--B-52 Country is actually Clarke County Georgia, on the other side of the state.
[/quote]

B-52 country is relative. Georgia's a small state. And for what it's worth, nobody cares.

[quote=Knows Wall St.] [quote=BondGuy][quote=Knows Wall St.] [quote=BondGuy]

[quote=Knows Wall St.]No, but I've been to the Forum in Rome several times.  Have you ever seen it? [/quote]

Rome Georgia. Floyd County, the enchanted land. Great place, B-52 country. I can't see you fitting in there but......

[/quote]

You might be surprised.

For what it's worth--B-52 Country is actually Clarke County Georgia, on the other side of the state.
[/quote]

B-52 country is relative. Georgia's a small state. And for what it's worth, nobody cares.

[/quote]

Actually Georgia is the largest state east of the Mississippi, so you'd be wrong by saying it's a small state.
[/quote]

 No kidding, biggest state in the east?  Wow!

Did you know that Georgia was ranked the 44th healthiest state in 2005? Even New Jersey(16th) beat it. How bad do you have to be that Jersey, on the receiving end of the entire country's air pollution, is a healthier place to live? Georgia's trying hard to be in the top 40 for 2006.

And, did you know Georgia ranked 46th in SAT scores in 2006. Mean combined score below 1000. That's why housing is so cheap there. Not to mention the big debate going on in science classes there. Do you think the science thing has anything to do with the health thing?

Georgia, big, and unhealthy, and well, not so hot on education.

But hey, they've got the love shack.

Bond Guy,



Your an idiot, so what Knows Wall St. watches his VH1. Your just a fixed income ass hole and wished that he understood equities.



And yeah I’m from Ga

[quote=rook4123]Bond Guy,



Your an idiot, so what Knows Wall St. watches his VH1. Your just a fixed income ass hole and wished that he understood equities.



And yeah I’m from Ga

[/quote]

Well given your grammar, sentence structure, and spelling I’m inclined to believe you when you say you are from Georgia.

Did you get a high school diploma there?

[quote=rook4123]Bond Guy,

Your an idiot, so what Knows Wall St. watches his VH1. Your just a fixed income ass hole and wished that he understood equities.

And yeah I'm from Ga
[/quote]

Rook you're right. It was a cheap shot on Georgia when I was really aiming at Wall Street. Sorry about that.

It’s funny how topics can change. Reading this sh*te is hilarious. Good entertainment for a Saturday morning.