Newbie Advice
Ok, here’s the deal. I’m a Jones FA. I live in a fairly conservative town (word on the street is Obama is a socialist who is going to nationalize everything, including McDonalds). It’s a new suburb-only got city sewer about 15 years ago, so not many retirees. Lots of money, though-million dollar homes along lakes, ect.
Here's my problem-I'm getting nowhere with anyone! I've been selling for about 5 weeks and have three households (my parents, a SBO, and a working investor family). My two main rejections have to do w/ the future socialism (for the person not investing outside of a bank) and fear of leaving their current advisor (for those currently invested). My mentors/field trainers/other jones FAs have said respond to people by taking their arguments to their absurd conclusion. So I tried this, and basically the door was shut in my face. So, do I keep on taking it to the logical conclusion or is their a better way to handle these objections. ps-let's keep the sarcasm to a minimumThe problem is not socialism, the problem is these prospects do not trust investing. Socialism is the excuse of the day. As far as people being afraid to leave their current advisor, you need to give them a compelling reason to do so by showing them how you are different.
Why are you trying to sell on the doorstep?
Why aren't you doing what they tell you - which is to just make contacts and ask them for permission to contact them if something good came up? You can't win over $1million accounts on the doorstep. But you CAN do a little at a time. Ask questions that get people to THINK - not offend them. Ask questions like "If I could show you a way to...., would you have any objection to me stopping by to show you more of the kind of work that I do?"People WILL buy what they WANT to buy. Start selling it to them.
Alice is a broken record with this piece of advice.
Listen to him!.
How much you guys make on CD’s?
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True.
[quote=Sam Houston] The problem is not socialism, the problem is these prospects do not trust investing. Socialism is the excuse of the day. As far as people being afraid to leave their current advisor, you need to give them a compelling reason to do so by showing them how you are different.
This is great advice Sam. I have a client who is DOOM AND GLOOM as well. Everything going to hell according to him and his wife. I couldn't get anywhere with them in the beginning but I had a local FA tell me to say, "Mr. Prospect, you know since everything is really bad right now I hope you have 3 things: A Horse, cow for milk, as well as a few guns to protect yourself from outlaws." This sounds really stupid and I felt weird about it but I actually did it.
The prospect said, "Thats absurd why would I do that?" Thats when I said, "How else are you going to survive once the U.S. collapses?"....Prospect: "It's not". BINGO...
Anyway, that worked for me. Once he realized how retarded he sounded, He rolled over a $500,000 account. It's just CD's right now, but slowly he's been interested in other things and going to seminars, which goes back to the post from Ominous about "little at a time". Maybe that will help, maybe it wont, but it worked once for me.[/quote]
So this guy will buy CDs from you but nothing else? Does that happen alot?
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[quote=wind3574]No and if anyone on here says they don’t have a client who is saying they only want FDIC insured CDS…your a lying sack. This thread isn’t about me Bull…I answered a question…End of conversation[/quote]
LOL are you hungover this morning and grumpy? The reason I ask is that my company is going to start letting us sell CDs probably within the next 12 months and I was wondering how you go about marketing that.
Sounds like you are jumping to negative conclusions about your prospects. If you don’t like them, they will pick up on that.
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No and if anyone on here says they don’t have a client who is saying they only want FDIC insured CDS…your a lying sack. This thread isn’t about me Bull…I answered a question…End of conversation
I'm not lying and I don't have any clients who want to buy only FDIC insured CD's.
[quote=Sam Houston] The problem is not socialism, the problem is these prospects do not trust investing. Socialism is the excuse of the day. As far as people being afraid to leave their current advisor, you need to give them a compelling reason to do so by showing them how you are different.
This is great advice Sam. I have a client who is DOOM AND GLOOM as well. Everything going to hell according to him and his wife. I couldn't get anywhere with them in the beginning but I had a local FA tell me to say, "Mr. Prospect, you know since everything is really bad right now I hope you have 3 things: A Horse, cow for milk, as well as a few guns to protect yourself from outlaws." This sounds really stupid and I felt weird about it but I actually did it.
The prospect said, "Thats absurd why would I do that?" Thats when I said, "How else are you going to survive once the U.S. collapses?"....Prospect: "It's not". BINGO...
Anyway, that worked for me. Once he realized how retarded he sounded, He rolled over a $500,000 account. It's just CD's right now, but slowly he's been interested in other things and going to seminars, which goes back to the post from Ominous about "little at a time". Maybe that will help, maybe it wont, but it worked once for me.[/quote]
You're a liar.
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[quote=wind3574] [quote=BerkshireBull]
[quote=wind3574]No and if anyone on here says they don’t have a client who is saying they only want FDIC insured CDS…your a lying sack. This thread isn’t about me Bull…I answered a question…End of conversation[/quote]LOL are you hungover this morning and grumpy? The reason I ask is that my company is going to start letting us sell CDs probably within the next 12 months and I was wondering how you go about marketing that.[/quote]
My apologies, I assumed it was going to be like EVERY other thread, where you say i suck because 1 client wants nothing but CD’s.[/quote]
No problem. How do you Jones guys market CDs? Are they a door-opener (I would guess) or are they ancillary business you do as a service once you have their investments?
[quote=Sam Houston] The problem is not socialism, the problem is these prospects do not trust investing. Socialism is the excuse of the day. As far as people being afraid to leave their current advisor, you need to give them a compelling reason to do so by showing them how you are different.
This is great advice Sam. I have a client who is DOOM AND GLOOM as well. Everything going to hell according to him and his wife. I couldn't get anywhere with them in the beginning but I had a local FA tell me to say, "Mr. Prospect, you know since everything is really bad right now I hope you have 3 things: A Horse, cow for milk, as well as a few guns to protect yourself from outlaws." This sounds really stupid and I felt weird about it but I actually did it.
The prospect said, "Thats absurd why would I do that?" Thats when I said, "How else are you going to survive once the U.S. collapses?"....Prospect: "It's not". BINGO...
Anyway, that worked for me. Once he realized how retarded he sounded, He rolled over a $500,000 account. It's just CD's right now, but slowly he's been interested in other things and going to seminars, which goes back to the post from Ominous about "little at a time". Maybe that will help, maybe it wont, but it worked once for me.[/quote]
Liar .. That is the gayest thing I've ever heard. You are not qualified to give advice on tying shoes.
I guess that I'm a lying sack. I don't have any clients who only want FDIC CDs. If they did, they wouldn't be my clients. It is safety of principal that these people want. It's easy to show them that they don't need CD's to accomplish this. Your inabilty to use the English language makes you appear to be under educated or just stupid. You are going to respond defensively that you don't care about others on an internet forum. 1) If you didn't care, you wouldn't respond. 2) For someone who can use proper written English, it is easier to use it than not use it. Why don't you just admit that this is a weakness of yours instead of protesting with some B.S.?No and if anyone on here says they don’t have a client who is saying they only want FDIC insured CDS…your a lying sack. This thread isn’t about me Bull…I answered a question…End of conversation
[quote=wind3574]No and if anyone on here says they don’t have a client who is saying they only want FDIC insured CDS…your a lying sack. This thread isn’t about me Bull…I answered a question…End of conversation[/quote]
Nope, no clients saying this … although I have had some prospects say this.
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Wind - you need to shut up and stop lying. From 250k accounts dropping into your lap during door knocking to taking million dollar clients to dinner to CD clients moving their entire relationship over to you because you say “you need a cow for milk” STFU
If we were to believe what you say you have over $7mm AUM in less than 6 months. Jim Weddle is kissing your arse. You’re putting up 23k months. Gross is all that matters. You’re a cold call hero. and you can leap buildings in a single leap.
A TOOL AND A FOOL … CLASS A Idiot!
You've been at this for 6 months. How can you say what you are saying? I've been at this for 20 years and it's never happened. Clients do get freaked out at times. They do want guarantees at times. Nobody is saying anything about clients turusting us 100% or anything similar. The scared clients do need some hand holding. Wanting reassurance and wanting guarantees is not synonomous with wanting FDIC.Holy crap. You guys are full of it. There is ALWAYS a client at some point who gets freaked out and wants nothing but FDIC. Whether its a client who just transfered over and isn’t comfortable with other investments, or just a scared client. For you guys to be saying NONE, makes me think your just being arrogant. In this market there are a ton of scared clients/prospects. And for you to say that EVERY client comes over trusting you 100%, is never worried, and invests 100% of what you tell them too, is nonsense. IF you really believe that, then you haven’t found the rest of their assets.
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[quote=wind3574] [quote=hotair1] Wind - you need to shut up and stop lying. From 250k accounts dropping into your lap during door knocking to taking million dollar clients to dinner to CD clients moving their entire relationship over to you because you say “you need a cow for milk” STFUIf we were to believe what you say you have over $7mm AUM in less than 6 months. Jim Weddle is kissing your arse. You’re putting up 23k months. Gross is all that matters. You’re a cold call hero. and you can leap buildings in a single leap.A TOOL AND A FOOL … CLASS A Idiot!
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You don’t have to believe me. I don’t care. I already proved my numbers to Spiff, and i wasn’t lying. Don’t make a sh*t to me, Have no reason to lie…besides, that statement about “the cow”, actually worked, use it…or don’t. I’m the one that got the $500,000 account out of it. I’ll be happy to continue what i’m doing, while you waste your time calling me a liar on an internet forum.
Anonymous - I’m talking more about the initial client relationship with new clients. Especially people who have all their money in cash/cd’s. They don’t want anything else and it’s tough to talk them into anything else. I have quite a few new clients with a good chunk of cash/cds just sitting around in a bank account.
and by the way, I’ve heard your “bad English” story 100 times. At some point you’ll get over it. I’d have to really questions YOUR intelligence considering you can’t stay on the damn thread topic. My 2 year old has a better attention span, or maybe its because you don’t have anything intelligent to say relevant to the thread, so you resort to “Windy bashing”. It’s much easier to insult someone’s typing, than it is to actually add value to the conversation. Would make sense, seems to be a trend with you and a few others.
You don’t like my “cow” Idea, tell the kid your own and STFU. That was mine and it worked.[/quote]
When you try to talk people out of safe things and into risky things, when they want safe things, you are making unsuitable recommendations. That is dishonest.
wind you are a liar
you are dishonest
you are dumb
accept who you are - we have
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wind did you just find a 75k rollover in the bathroom? LIAR
"Anonymous - I’m talking more about the initial client relationship with new clients. Especially people who have all their money in cash/cd’s. They don’t want anything else and it’s tough to talk them into anything else. I have quite a few new clients with a good chunk of cash/cds just sitting around in a bank account. "
If they don't want anything else, they aren't a client."and by the way, I've heard your "bad English" story 100 times. At some point you'll get over it. I'd have to really questions YOUR intelligence considering you can't stay on the damn thread topic. My 2 year old has a better attention span, or maybe its because you don't have anything intelligent to say relevant to the thread, so you resort to "Windy bashing". It's much easier to insult someone's typing, than it is to actually add value to the conversation. Would make sense, seems to be a trend with you and a few others." Let me explain a giant difference to you. I can admit my shortcomings. I have plenty of them. For instance, you are correct about my attention span and I don't doubt that your 2 year old has a better one. You, on the other hand, can't admit that your written English is poor and instead blame it on your typing. The thing that I like the most about you, Windy, is that it's great to have someone to laugh at on the board. My favorite is when you continuously tell us that you don't care about what others say or think of you. People who don't care, don't care. They don't constantly tell people that they don't care. If you didn't care, it would no longer be fun to laugh at you. I happen to believe your numbers and have never questioned them.
He’s lying about his numbers and I can prove it.
Please prove it, I need a good laugh.
I believe whatever anybody tells me about their numbers on this board. It just doesn’t make any difference to me.
[quote=hotair1]Please prove it, I need a good laugh.
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Check your PM’s.
tisk, tisk, tisk WINDY … you are quite the liar.
Alice send it to me also.
Poor windbag deleted all his posts after he was proved to be a fraud!
Window, everyone can see through you!!
Since he deleted his posts and figuratively took his ball and went home, hit me up too Alice!That would be a hoot. Count me in on the PM.
This is rich. Can you toss me a PM too, Alice? Thanks!
Windy Windy Windy … Spiff suggested you change your name and start over but your ego got in the way. Now everyone can see what a total fraud you really are. I personally have no desire to see what a loser you are, figured that out months ago piker.
That is funny. Thanks Alice.
I’ve been lurking on this board for months and have seen windy’s posts. If its not too much trouble can I see this “proof,” I need some inspiration at someone elses expense.
http://forums.registeredrep.com/forum_posts.asp?TID=7302&PN=1
I want to continue this thread as a "Wind Memorial". Remember this thread? One of the beginning of the kool-aid spewing from him. Easier to get into Harvard than Jones...hahaha!!![quote=svm21]I’ve been lurking on this board for months and have seen windy’s posts. If its not too much trouble can I see this “proof,” I need some inspiration at someone elses expense.
[/quote]
I’m calling bullsh*t on this poster. Nice try windy. Go check out his original post.
hahaha wow.
I mean I guess I am similar to windy. I’m in my twenties and just started with jones. Besides that…Jeez guys its my 2nd post, give me a chance.
http://forums.registeredrep.com/forum_posts.asp?TID=7025&KW=
"I was told in the office at Prometrics that she has never seen a 25 year old pass the test (Series 7) I am 25." Lmao!!!!! The 1st 25 year old to pass the 7!Lol, quite a few "...."'s.[quote=svm21]I’ve been lurking on this board for months and have seen windy’s posts. If its not too much trouble can I see this “proof,” I need some inspiration at someone elses expense. [/quote]
I’m calling bullsh*t on this poster. Nice try windy. Go check out his original post.
[quote=3rdyrp2]http://forums.registeredrep.com/forum_posts.asp?TID=7025&KW=
"I was told in the office at Prometrics that she has never seen a 25 year old pass the test (Series 7) I am 25." Lmao!!!!! The 1st 25 year old to pass the 7! [/quote]Classic windy
Someone PM the link to iceco1d. I’m too lazy.
Windy, .......when....... you....... come .......back .......with .......a....... new....... identity.......you....... may .......want to use one without your own unique use of the English language.I mean I guess I am similar to windy. I’m in my twenties and just started with jones. Besides that…Jeez guys its my 2nd post, give me a chance.
wow. seriously wow.
lol-this is funny call time reading. So my little post brought wind down.
Hmm, as far as my original question, I'm guessing the answer is keep on keeping on. I think someone on this forum once said that dumb folks make it at Jones b/c they don't know any better while smart people try to remake the wheel. Here's to being persistently dumb!Source URL:https://www.wealthmanagement.com/forums/rookies-trainees/newbie-advice