Rude Awakening at Edward Jones
I’m a new FA who just recently finished KYC and I’m struggling with the
whole idea of getting phone numbers. The main reason I am having this
problem is that I just do not like the idea of pitching over the phone.
The face-to-face strategy was the #1 reason I chose to work for Jones
(I had 3 other offers) and I am very disappointed to have these new
expectations.
I believe, if I bust my a$$, I could knock on
every door in my town at least once every month and I feel I have the
drive and motivation to do this. For people with whom I have a genuine
conversation (not some bull-s**t conversation about their lawn gnomes)
I would call and try to set up an appointment and have the opportunity
to make my sale. The rest, I would follow up in person and possibly
have a better conversation now that they know me.
This is what
I call relationship sales and this is what I signed on to do. I’m very
disappointed about the eval/grad requirements and have been seriously
questioning my decision to join Jones.
If there is anyone who can offer some feedback or advice, it would be greatly appreciated.
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Alot of what I do is based solely around relationship sales, which is why I enjoy the company I’m a part of. I make very few phone calls, and a lot of what I do with setting up appointments is done in person. You can read my story on another thread called “Newcomer here”. If you want more information about my company and I please PM me and I’ll give you details and maybe you would be a better fit in my upline, rather than taking it from “the man” in corporate america. Look forward to hearing from you.
Man, as a newbie you won’t have time to sit around and wait on “relationship sales” to produce biz. It’ll take 9-12 months for relationship-based leads to come through. Too much rapport and lunch buying in the meantime before any paperwork is signed. Ask anyone on here how long it took them from the time they joined alliances with a CPA or an estate attorney to getting actual referrals from them, or how long it took them from when they developed their first connection with the Chamber of Commerce for that person to actually come on as a client. Takes WAYYY too long for that to be your sole source of marketing, especially as a newbie.
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Hey still@jones, I agree with Wind. Just do the work and hang in there. I haven’t been on here for a long time because I haven’t had the time. Wanted to pop on and reply because I get what you are feeling right now. I’m out working towards eval/grad and everytime I get worked up about something I realise I’m just making excuses to not do the work.
Don’t look for a reason to fail. Door knock your ass off then and get your numbers and appointments to a point where it won’t matter that you hate making phone calls. If you let that psyche you out (especially when it’s so far away from what you are supposed to do right now) you will fail.
Don’t forget that you can make appointments before eval/grad too. In person. Face 2 face. Just date them for past your grad date.
....and if they should ever find out you talked to them before you were licensed, you not only get to write a check for them, you also get to contribute to Finra's penalty fund and you are out the business. Great advice from a veteran to a newbie."Upline"? Sounds like you're either with Primerica or World Financial Group. This is not a board for recruiting to MLMs. Edward Jones is a MUCH better alternative and better reputation over those two companies (and that's not saying much either).Alot of what I do is based solely around relationship sales, which is why I enjoy the company I’m a part of. I make very few phone calls, and a lot of what I do with setting up appointments is done in person. You can read my story on another thread called “Newcomer here”. If you want more information about my company and I please PM me and I’ll give you details and maybe you would be a better fit in my upline, rather than taking it from “the man” in corporate america. Look forward to hearing from you.
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Sam, stop being an ass. You are not doing anything wrong. You are not asking for money. You are not giving advice you are setting up a time to meet with them. Totally within the boundries of compliance. Stop looking for fights.
Were you trying to say that you can schedule appts for after your grad date?Sam, stop being an ass. You are not doing anything wrong. You are not asking for money. You are not giving advice you are setting up a time to meet with them. Totally within the boundries of compliance. Stop looking for fights.
I’m not engaging in an argument, I have too much work to do.
I was thinking maybe I read your post wrong. Must not have.I’m not engaging in an argument, I have too much work to do.
You probably did Sam.
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I don't know what you're talking about, but I'm on pace to be making well into the six-figure income within the next 2-3 years. All while not having to worry about being "butt-holed" by my boss, or having to worry about abiding by some strict schedule. I'm 100% independent, and the activity I am doing right now is more than many of my cohorts.Sam - I’m not as much worried about Cool Aid’s comment on appointments as I am the Primerica guy saying move there to not deal with “Taking it from the man”. lol
Paying for your license - $300
New suit - $400
Working for Primerica, giving your RVP 85% pay-out of your prospects, while being butt-holed from every direction and loving every minute of it - Absolutely Priceless
Don’t set appointments. I would like to clarify that it is NOT ok to to give any solicitation of business before eval/grad. Wrong wording. My apologies.
And no my name doesn’t start with C.
I don't know what you're talking about, but I'm on pace to be making well into the six-figure income within the next 2-3 years. All while not having to worry about being "butt-holed" by my boss, or having to worry about abiding by some strict schedule. I'm 100% independent, and the activity I am doing right now is more than many of my cohorts. [/quote] Your ignorance of your situation is astounding.[quote=wind3574]Sam - I’m not as much worried about Cool Aid’s comment on appointments as I am the Primerica guy saying move there to not deal with “Taking it from the man”. lol
Paying for your license - $300
New suit - $400
Working for Primerica, giving your RVP 85% pay-out of your prospects, while being butt-holed from every direction and loving every minute of it - Absolutely Priceless
I know it's very important to develop those relationships early on, but to expect you can rely solely on relationship-based sales when you first start out and still have a job in 6 months is more than someone can handle. I could be wrong, but I don't think you can live off of COI's and business alliances and not do quick turn-around marketing strategies, cold calling or door knocking in your 1st year, unless you are a former CPA or estate attorney transitioning your current clients/contacts with you3rdyrp2 - You have to remember. At Jones you do nothing but prospect for 3 months. Anyone who can’t start developing some business relationships within that time probably shouldn’t be in this biz. Building relationships first and then selling to my clients is workin fine for me, but then again not everyone does things the same way, especially in different parts of the country…
[quote=wind3574]3rdyrp2 - You have to remember. At Jones you do nothing but prospect for 3 months. Anyone who can’t start developing some business relationships within that time probably shouldn’t be in this biz. Building relationships first and then selling to my clients is workin fine for me, but then again not everyone does things the same way, especially in different parts of the country…
I know it’s very important to develop those relationships early on, but to expect you can rely solely on relationship-based sales when you first start out and still have a job in 6 months is more than someone can handle. I could be wrong, but I don’t think you can live off of COI’s and business alliances and not do quick turn-around marketing strategies, cold calling or door knocking in your 1st year, unless you are a former CPA or estate attorney transitioning your current clients/contacts with you[/quote]
I think you all are misunderstanding the OP. He is not talking about networking, he is talking about building a relationship with the client through face-to-face interaction versus product pushing over the phone. He said he came to Jones for that Face-to-Face approach, and from what I can gather, he is under the impression he will have to sell over the phone. (Please correct me if I’m wrong, still@Jones.)
Now, I am curious, if I could get some feedback from other EDJ newbies, is this pitching over the phone @ Eval/Grad actually an expectation? I don’t see how that fits into the business model. I just started SFS and I don’t know how many times I have read that a recommendation must meet a client’s individual needs. How is it possible to make a recommendation over the phone at Eval/Grad? There is no way the client’s needs have been established at that point. I thought the big thing at Eval/Grad was setting appointments.
I don't know what you're talking about, but I'm on pace to be making well into the six-figure income within the next 2-3 years. All while not having to worry about being "butt-holed" by my boss, or having to worry about abiding by some strict schedule. I'm 100% independent, and the activity I am doing right now is more than many of my cohorts. [/quote] Your ignorance of your situation is astounding.[/quote] The only thing this idiot is on pace for is arbitration.[quote=Bigmoneyhoney][quote=wind3574]Sam - I’m not as much worried about Cool Aid’s comment on appointments as I am the Primerica guy saying move there to not deal with “Taking it from the man”. lol
Paying for your license - $300
New suit - $400
Working for Primerica, giving your RVP 85% pay-out of your prospects, while being butt-holed from every direction and loving every minute of it - Absolutely Priceless
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[quote=wind3574]
Diane - Yes you have to make 60 product presentations at eval grad and have 20 pipelines (money dues/referrals, etc)… It really isn’t that bad, but I can promise you I went for the appointment. It also depends on your ATL because mine was REALLY relaxed and so was my VV. But I have heard of some that were military style so. It’s really just a game, they want to make sure you can do the job. It’s not really about what you can make at Eval/Grad. I only sold one bond, but I’ve done extremely well since I’ve been back. Just play the game.[/quote]
Thanks Windy! Are you basically just presenting bonds, or what? I just don’t see how you can get to the point of recommending a product after just a door knock, especially a door knock that was done before you can even talk investments.
My actual start date is tomorrow, but I went ahead and started studying this past week to get a head start for when the hard stuff hits.
Thanks for everyone who provided positive information and “get a life” for everyone else who is filling this forum with moronic banter…and of course, the Ameriprise guy shouldn’t even be on this forum, unless he’s hoping to join Jones one day (which he probably is…).
I seem to be getting the mantra, “just stick it out and things will be better after eval/grad” from almost everyone I speak to; but, it still is disheartening to be given this assignment. This clearly goes against everything I was led to believe during the interview process.
Also, there are a few people who have told me off-line that the phone calls need to continue for the first 2 years…this is getting depressing.
Whats wrong w/the Ameriprise guy?? I was giving some advice that I thought was pretty sound. I mid-read the question, and thought you wanted to build your business starting off of COI’s and business alliances. Thats what I thought by “relationship sales.” I agree w/Wind when he says he wants to actually meet the prospect and develop rapport before recommending products, which is correct. I just never called that “relationship sales”, I considered it developing a client relationship.
Ameriprise is fine for this forum. I have a problem with the MLM’ers.
"Ameriprise" "Primerica" - their names are not the greatest for an ad campaign at any rate.If you didn’t know this was a sales job you are in for a rude awakening. You pitch the product to build the relationship, it’s not about selling 20k worth of bonds on that call it’s about moving the relationship, learning more, etc. They are not boiler room calls but you’re not going to sale a damn thing if you don’t ask.
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Windy… we know you are a god and all but most people never make a sale because they don’t ask for it. That’s sales 101 - no use disputing it. The pitch gets the conversation started. It allows you to qualify the person. CAN THEY DO BUSINESS WITH ME, WILL THEY DO BUSINESS WITH ME? You could be the exception to the rule but after you blow through the low hanging fruit from your 3 months of door knocking I expect the real side of the business will take hold.
Of course, you could be Zeus reborn and have the world bow at your feet but your experience will be anything but the norm.
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Sometimes you can break all the rules and still “win”.
I get what Wind is saying. I’ve always had much better luck selling in person. My focus has always been getting the appointment when calling, not actually pushing a product over the phone. Should be an interesting change.
Windy - you have a major complex man, I’m not doubting your production or methods. This is not about you it’s about someone that has a problem asking for a sale.
Low hanging fruit you had for sure, just like I do. You walk into a business and the owner wants to do business with you after 20 mins… That’s not relationship building that’s just lucky. We’ve all been there but it’s not the typical sale.
Dianna - pushing the product is not the goal it’s the bridge to an appointment. Do you really think people in your community want random Jones brokers to call you talk about fishing? They know what you do - they want to know what the hell is going on with the market and how you can help them.
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LOL…“John/Jane, This is an excellent opportunity and if you have the money available, I think you should buy some today!”. That is, in a nut shell, the heart of what you should get to, eventually. Even if you don’t make a sale, it advances the conversation into game on mode. If you don’t create an expectation at the door that you will be calling clients back with an appropriate recommendation, be it a muni, blue chip, etc, you will set yourself up for major disappointment later on down the road.
Let's just put some perspective to this.... Despite how it appears, Jones is not really about "product pushing over the phone". The sole purpose of these phone sessions - and some veterans AND trainers will admit this - is to train you to sell and be comfortable selling. They pretty much KNOW you will not sell anything at Eval/Grad (even though they have the silly contest). They are just forcing you to do something that is not natural and not comfortable. And the reality is, you can't spend the rest of your career going face-to-face. You have to rely on the phone at some point. You are going to call to make appointments, catch up with people, build relationships, fill a "gap" in their portfolio, whatever. But the reality is, if you someday have 250-500 clients, are you still going to be driving around town dropping off literature to them? You're not. And don't forget, every phone call is not a "sales call". You don't have to sell product over the phone. They are going to make you say some pretty silly stuff on the phone in STL. Just hang in there. It's all about training. They can't train 50 different newbies 50 different ways. Just get through it, call your worst prospects (so not to embarass yourself in front of good prospects), and make a conscious effort to get good on the phone. You are still going to meet with people face-to-face the rest of your career, but like I said, the phone is going to be your friend. You have to get used to it. Whether you work here or anywhere else, you need to use the phone. As far as using the phone "for the next 2 years", I don't quite get that. You realistically are using the phone the rest of your career. What you use it for is up to you.Thanks for everyone who provided positive information and “get a life” for everyone else who is filling this forum with moronic banter…and of course, the Ameriprise guy shouldn’t even be on this forum, unless he’s hoping to join Jones one day (which he probably is…).
I seem to be getting the mantra, “just stick it out and things will be better after eval/grad” from almost everyone I speak to; but, it still is disheartening to be given this assignment. This clearly goes against everything I was led to believe during the interview process.
Also, there are a few people who have told me off-line that the phone calls need to continue for the first 2 years…this is getting depressing.
I think it’s a little funny that already, before you new guys have your CSD, you’re already trying to change the recipe. Before you decide “relationship sales” or FTF sales, or whatever you want to call it is THE way you’re going to get things done, you might want to talk with your regional leader or the vets in your area. They may have some other suggestions for you. None of you have ever sold stocks or bonds before. I find it funny that you’re making up your own rules before you even start the game.
You're going to have calling sessions every day at Eval/Grad. Used to be no more than an hour or so. During that time you're going to call on specific things. One time it will be a bond, one time a stock, others you get to pick. You will have spent your time between KYC and E/G out meeting people, telling them that when you find something you think could be of value to them, you'll let them know. That's what you're doing. You're delivering on a promise. You do that several times and you'll find yourself opening a new account. Here's the problem with calling for appointments only: You: Hello Mr. Smith, this is Spaceman Spiff with EDJ. Did I catch you at a good time or do you have just a minute? Them: I'm busy, what do you want. You: Then I'll be brief. Mr. Smith, when I was at your door a few weeks ago we talked briefly about your financial situation and I'm calling to see if you would like to sit down with me so we can do a portfolio review. How does next Tuesday at 10 or Thursday at 5 sound for you? Them: No. I'm not interested. I'm sticking with the guy that I've got. You: OK, well, then um....Thanks for your time. Good bye. You're done with that prospect. You can keep going back to bug him about setting an appointment with you, but eventually he's just going to tell you to go away. Him telling you no about an appointment is a different vibe than telling you no on a stock or a bond. When he tells you no, he doesn't want to buy that stock, you can ask him why. Or you can tell him when you see something else, you'll call him again. Maybe he doesn't like stocks. Maybe he prefers tax free bonds to corporates. It doesn't completely shut down the process.As said many times in this thread, and any vet will tell you, the business is about relationship building and reputation. My personal opinion about the Jones training process is that they are trying to give you the means to build a relationship. In that case, it is not about product sales, but selling who you are in contrast with either who they are working with/what they are currently doing. It is a process that was built to be one size fits all, from the no sales experience and up. Calling a client and offering them a product is just a conversation starter for you if you don't know any other way to meaningfully start the conversation.
B24 is right. You don't need to burn your good relationships for some ATL in Eval/Grad pitching them some stock that they think is great. Hit your numbers the way they ask you to, and cultivate your promising relationships for the time where the client is comfortable moving forward and you are ready to provide them the service they deserve. And the Ameriprise dig was a bit unfair. I thought he/she was trying to be helpful.So, basically, you tell your prospect that if you come across something that looks particularly good for them, then you'll be sure to let them know about it. And when something comes up that's suitable for their situation (given the superficial information that you probably got from them at the "meet and greet"), then you go back and sell it to them, right? If you close the deal, then you make a little money; however, what you're really going for is a "conduit" to start building a real relationship that will turn this "customer" into a happily involved client that ideally uses several products and services, am I reading you right?
Thanks, I really appreciate the perspective. It makes a lot more sense now. I will definitely have to break out of the bank mentality.
[quote=Marty McFly]
So, basically, you tell your prospect that if you come across something that looks particularly good for them, then you'll be sure to let them know about it. And when something comes up that's suitable for their situation (given the superficial information that you probably got from them at the "meet and greet"), then you go back and sell it to them, right? If you close the deal, then you make a little money; however, what you're really going for is a "conduit" to start building a real relationship that will turn this "customer" into a happily involved client that ideally uses several products and services, am I reading you right?
[/quote] Exactly. Your job is to get people to listen to you and do what you know is best for them. Sometimes you do have to do like Ted Jones said and sell them what they want before you sell them what they need. That investment they want may be the perfect conduit to allow you to talk with them about what they really ought to be doing with their portfolio.Interesting way of thinking. Could you clarify "selling them something they want before something they need?" Is this like if someone has a fetish for the Far East markets, you'll overweight them in China/Japan/etc. in their international funds to appease them, or is this like if they hear great things about no-load funds, you recommend a portfolio of no-loads, then wait for their next rollover to put them in wrap accounts/annuity/a shares, etc.? From my experience, I don't get a whole lot of pushback from clients when going over specific investments, unless they are adamant about not investing in tobacco or defense companies. But I'll fight to the death any clients that insist on buying no-load funds as their initial order of business with me.Exactly. Your job is to get people to listen to you and do what you know is best for them. Sometimes you do have to do like Ted Jones said and sell them what they want before you sell them what they need. That investment they want may be the perfect conduit to allow you to talk with them about what they really ought to be doing with their portfolio.
I think you're over-analyzing this. What they talk about is maybe someone "only buys CD's". So you sell them their next CD because our rate is a little better than the bank. Or maybe they love utility stocks. So you buy them 100 shares of some solid utility. So now you have the relationship formalized. Now you can get them in and start talking about their goals. Maybe they need to be a little more aggressive, or a little less aggressive. Maybe they are too overwieght. You understand what I'm saying. They "easy sale" for something they want (which is usually stuff they already buy somewhere else) just opens the door. But no, it doesn't mean you give away no-load funds, or sell them a BRIC fund with their last $2,000.
No, I sell them pretty much whatever they want. $100K to invest in emerging markets? Sure you can buy that. $250K in treasuries? Sure you can buy that. You want some stocks too? I just got a tip on a pink sheet stock. Going through the roof. Before you know it, it’ll probably be at $1 per share. We can buy 100,000 shares today and it’ll only cost you $2000. Think of the money you’ll make.
Goober.Well put. Thanks.I think you’re over-analyzing this. What they talk about is maybe someone “only buys CD’s”. So you sell them their next CD because our rate is a little better than the bank. Or maybe they love utility stocks. So you buy them 100 shares of some solid utility. So now you have the relationship formalized. Now you can get them in and start talking about their goals. Maybe they need to be a little more aggressive, or a little less aggressive. Maybe they are too overwieght. You understand what I’m saying. They “easy sale” for something they want (which is usually stuff they already buy somewhere else) just opens the door. But no, it doesn’t mean you give away no-load funds, or sell them a BRIC fund with their last $2,000.
[quote=Spaceman Spiff]No, I sell them pretty much whatever they want. $100K to invest in emerging markets? Sure you can buy that. $250K in treasuries? Sure you can buy that. You want some stocks too? I just got a tip on a pink sheet stock. Going through the roof. Before you know it, it’ll probably be at $1 per share. We can buy 100,000 shares today and it’ll only cost you $2000. Think of the money you’ll make.
Goober. [/quote] This is the 2nd time I've been flamed on this thread for no reason. WTF?[quote=B24]
I think you're over-analyzing this. What they talk about is maybe someone "only buys CD's". So you sell them their next CD because our rate is a little better than the bank. Or maybe they love utility stocks. So you buy them 100 shares of some solid utility. So now you have the relationship formalized. Now you can get them in and start talking about their goals. Maybe they need to be a little more aggressive, or a little less aggressive. Maybe they are too overwieght. You understand what I'm saying. They "easy sale" for something they want (which is usually stuff they already buy somewhere else) just opens the door. But no, it doesn't mean you give away no-load funds, or sell them a BRIC fund with their last $2,000.
[/quote] First of all that just seems redundant to me. Second of all that's very judgemental of you. Maybe they have a gland problem. All kidding aside, that was explained very well. Good on ya B24.[quote=3rdyrp2][quote=Spaceman Spiff]No, I sell them pretty much whatever they want. $100K to invest in emerging markets? Sure you can buy that. $250K in treasuries? Sure you can buy that. You want some stocks too? I just got a tip on a pink sheet stock. Going through the roof. Before you know it, it’ll probably be at $1 per share. We can buy 100,000 shares today and it’ll only cost you $2000. Think of the money you’ll make.
Goober. [/quote] This is the 2nd time I've been flamed on this thread for no reason. WTF?[/quote] I took it as a slam on my comment about selling them what you want. If it wasn't intended it that way, my apologies for the goober response. If it was then... Goober.Windy … I always thought the forum community was a bit tough on you. How
everything you post is all about you. Now I realize what they already knew, you
are a functional retard.
As the one who started this thread, I should chime in…I believe Windy has
provided some excellent & valuable insight for me (maybe the best along with B24).
But Voltmoie you seem to be online just
to hear yourself type. You know, there’s other things you can do online like games & news or girley (or man) pics (or both, if
that’s your thing). But for this forum, you’re not helping…
I gotta back voltmoie. I supported Wind but now it seems he is the only one of us (all firms included) that can get clients without hundreds and hundreds of calls. I like fishing but I think prospects just might see through it. A Financial Advisor talks about investments. A prostitute talks about…well not fishing. If you do not give your prospects some credit they just might be offended. Not all fishermen have money.
[quote=Still@jones]As the one who started this thread, I should chime in…I believe Windy has
provided some excellent & valuable insight for me (maybe the best along with B24).
But Voltmoie you seem to be online just
to hear yourself type. You know, there’s other things you can do online like games & news or girley (or man) pics (or both, if
that’s your thing). But for this forum, you’re not helping…
[/quote]
Interesting, you have the same writing style and display the same level of personal attacks Windy does.
As for helping, knock yourself out talking fishing. Lawyers talk law, Doctors talk medicine, and Financial Advisors talk… well, figure it out son. Not saying you don’t build rapport but trust is not built from bullsh*ting - it’s built from doing the right thing and knowing your business.
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Windy, it’s hard to read your messages. You write like a 3rd grader -
any chance you can act like a adult or at least write like one?
I’m not selling at EDJ yet but this is not my first barn dance so of course I was willing to listen to what helped you win, DJ.
Here is a summary of what I’ve learned from you to be successful:
Go to a Big 12 School
Wear a nice suit
Get statements at the door and then open accounts that day by finding WRAP accounts at 4.5%
Stop doorknocking and start cold calling since doorknocking was only landing you 200k accts.
Take days off so you can log on to brag about your production
Don’t sell - simply build relationships and talk about fishing
Tell everyone you’ll never log on to this site again yet post, post, post
Does that sum it up? When you put up 5 years of production I’ll be
impressed until then you’re simply a pompous prick with a chip on his
shoulder. You’re like Hank Moody without the wit, one liners, or track record.
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You all have allot of talent and experience doing what you do, otherwise you’d be doing something else. Ladies and Gentleman, could we please reframe from the personal attacks. We don’t have to like each other personally to act professionally, would we talk this way in person?
I think you mean "refrain" as in stop, not "reframe" as in to do it differently.You all have allot of talent and experience doing what you do, otherwise you’d be doing something else. Ladies and Gentleman, could we please reframe from the personal attacks. We don’t have to like each other personally to act professionally, would we talk this way in person?
I think you mean "refrain" as in stop, not "reframe" as in to do it differently.[/quote][quote=Centurion]You all have allot of talent and experience doing what you do, otherwise you’d be doing something else. Ladies and Gentleman, could we please reframe from the personal attacks. We don’t have to like each other personally to act professionally, would we talk this way in person?
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[quote=wind3574]It’s funny that you wasted quite sometime looking at all the threads to make that response. You in no way posted any advice that I mentioned. All you did was find nonsense information, to make yourself look funny. I’m still putting up the numbers and you still asked me for pointers…[/quote]
You’re the village idiot - it’s hard to miss or forget your posts.
Didn’t ask you for pointers simply wanted to understand what you were doing. Never denied it and won’t, I will always try to find what is working and make it work for me. Now I know you are simply gods gift to the world, something I can never live up to.
Thank you for a readable post and I assure you I’d have no issue telling you any of this to your face DJ.
I believe this entire site has been swarmed by Jones trainees.
It has! I think it’s because we are cut off from others so we come here to abuse each other like newbies in the wirehouses
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[quote=voltmoie] It has! I think it’s because we are cut off from others so we come here to abuse each other like newbies in the wirehouses
[/quote]
Thanks for pointing out the needed correction.
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Wind, you are knocking it. Product pitches do work in the South. Many southern producers have built giant books on product pitches. It doesn’t fit my style and it may not work for you, but it does work.
You are taking "low hanging fruit" as an insult. It shouldn't be taken as one. Who collects the most low hanging fruit? It's the person who works the hardest.* When a rep meets with someone and they are very quickly willing to transfer their $250,000 account, that is low hanging fruit or the rep is incredibly gifted. Good reps make a killing from the low hanging fruit. If you are tired of the whole "Windy thinks he's god" thing, stop making every post about you. You are kicking ass and working hard. Great. How many times are you going to tell us that? *The "hardest" worker is the one who spends the most time meeting prospects..
There you go with another post about you. You can talk about yourself all that you want, but it’s interesting that you talk about yourself and then are somehow suprised that people bash you. The conversation will continue to be about you because you want it to be about you.
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See here’s the deal. I was doing some catching up on this thread this morning. Somewhere at the point that people were telling Wind that he should be talking more about investments and not fishing. I was thinking here’s something that I agree with Wind on and I do. You build a little rapport and then you transition into what you do and how you do it. So if you have to talk a little fishing to build the trust you do that. Then I kept reading, and they keep bashing Wind and he gets more and more defensive. Wind you have to learn to reel it in. No pun intended! Learn to ignore certain things or respond better to them. If someone were to read this thread from start to finish they would come to the conclusion that you are an a**hole. You should keep YOUR comments positive. We all have bad days and can fly off the handle but you should be having good days with the business you are doing. Stop looking for affirmation among your peers and share with the younger guys and gals your recipe for success.
Your post to anonymous is not helping your cause!
I was catching up on this thread too, and realized something that was terrifying. I too need to do more doorknocking, but not because of the need for business (I need to business too, by the way). I just realized I put on my EJ 20.
What is the EJ 20, you may ask? It is the 20 pounds you put on when you stop doorknocking regularly, and start drinking more and more beer. I was leaning back in my office laughing at this thread, and my belly shook my desk. Man, I hate reality sometimes..
Salespeople seem to pride themselves on controlling conversations. It’s how they make their living. They are very attuned to the weaknesses of others, and they attack those weaknesses relentlessly.
Windy, you keep going to battle in a field of experienced soldiers with a gaping hole in your armor...namely your temper. Repair that hole, and you'll soon find the battle takes a turn.Consider this as part of " paying your dues " in the business. As to Jaxson , a very valid point , using the phone assists in time management.
As an " old timer " , I have my appointments daily in my office ( my preference ) and still call daily. The nature of the business , it could be a new contact that I made , a referral , cold call but I do it to stay ahead of the curve. Even with a Book of Business this is a numbers game. That may sound simplistic but it has worked for me.I guess it’s good to have a recipe and a script; especially when you are training 2,000 new reps a year.
But, in my opinion, to be successful in sales (and to make it through the first 2 years), you really must enjoy what you are doing. I think it doesn’t matter if you are on the phone or in person; if you talk about fishing or munis; wear Armani or Flannel (yeah, I’m talking about you, Maine). In the end, the people who will succeed find a way to wake up every morning with a true feeling of joy for this job…and this is where I want to be.
At KYC, I was told my phone calls could be monitored. Maybe, this is my real sticking point. I know I will not be a successful salesperson if I’m being forced to read a script while someone listens in. Reps who get the big accounts quickly do so because they find a way to connect with their prospect…not because they said “buy some…”. And in this respect, if your prospect is passionate about fishing, you will have great success if you bring this into the conversation.
I think I’ve gained a greater respect for the Jones model through reading this thread. What Jones is giving us is a foundation. It is a model that works no matter how old or young someone is; how experienced or inexperienced they are. Yeah, it’s a numbers game and may become a little tedious at times. But, when your sales numbers are down, you know what you can do today to get them up again…maybe that’s why Jones is so successful.
Thanks again to everyone who posted! You’ve been a big help!
Been doing this almost three years – I think you are on the right track here if you take this to the logical conclusion: Stick to knocking on doors and calling your best DKs to set up appointments.
I got sidetracked by making phone calls and dripping on people and let me tell you – it doesn’t work and was a huge waste of time. What works is finding people who are sensible, motivated people with ready money or a pebble in their shoe who size you up on the first or second meeting and agree to meet you.
Reminds me of the Bill Gross "Cherry Picking" method. It makes sense. Unless you have already "made it" those undreds of people in your database can just suck up valuable time that you can't get back.Been doing this almost three years – I think you are on the right track here if you take this to the logical conclusion: Stick to knocking on doors and calling your best DKs to set up appointments.
I got sidetracked by making phone calls and dripping on people and let me tell you – it doesn’t work and was a huge waste of time. What works is finding people who are sensible, motivated people with ready money or a pebble in their shoe who size you up on the first or second meeting and agree to meet you.
I think you actually meant, Bill Good’s “Hot Prospects”. I’m about 50 pages in and I’m loving what I’m reading. Thanks for the tip!
Yes, that’s the title of the book. I was referring to his concept of Cherry Picking in the book.
Reminds me of the Bill Gross "Cherry Picking" method. It makes sense. Unless you have already "made it" those undreds of people in your database can just suck up valuable time that you can't get back.[/quote] - Absolutely find the willing. My region taught me to call the same prospects for years and years on end. 50-60 months of monthly message leaving. In the beginning I was finding new and willing prospects (which was happening naturally through my initial doorknocking), when that stopped and I just started pounding the 800 names I had it was game over.[quote=buyandhold]Been doing this almost three years – I think you are on the right track here if you take this to the logical conclusion: Stick to knocking on doors and calling your best DKs to set up appointments.
I got sidetracked by making phone calls and dripping on people and let me tell you – it doesn’t work and was a huge waste of time. What works is finding people who are sensible, motivated people with ready money or a pebble in their shoe who size you up on the first or second meeting and agree to meet you.
How did you go about finding more willing? At what point did you decide they were not really willing?
Good question and it is different for everyone, but as you go you will get a feel for who is d***ing you around. I would say 5-7 discussions and if the aren’t willing to meet, NEXT !
I hate it when newbies like yourself come out acting all c@cky… Truth is you will likely fail! There is a 90% chance of it and with your attitude I would advise you to just quit!
My $ .02
Miss J
[quote=Still@jones] I’m a new FA who just recently finished KYC and I’m struggling with the
whole idea of getting phone numbers. The main reason I am having this
problem is that I just do not like the idea of pitching over the phone.
The face-to-face strategy was the #1 reason I chose to work for Jones
(I had 3 other offers) and I am very disappointed to have these new
expectations. I believe, if I bust my a$$, I could knock on
every door in my town at least once every month and I feel I have the
drive and motivation to do this. For people with whom I have a genuine
conversation (not some bull-s**t conversation about their lawn gnomes)
I would call and try to set up an appointment and have the opportunity
to make my sale. The rest, I would follow up in person and possibly
have a better conversation now that they know me. This is what
I call relationship sales and this is what I signed on to do. I’m very
disappointed about the eval/grad requirements and have been seriously
questioning my decision to join Jones. If there is anyone who can offer some feedback or advice, it would be greatly appreciated.
[/quote]
You’ll make a great mom someday, Miss Jones.
Worthless child: Mom, I can’t figure out my homework.
Mrs Jones: Truth is you will likely fail! So, don’t try and don’t ask for help. You c@cky sonofabitch!
ps: I’ve been taught that saying “I’m struggling” and asking for “feedback or advice” is the exact opposite of c@cky.
Still@Jones, going back to the earlier posts before this degenerated into a cat fight, I too am between KYC and Eval/Grad. I have had a good deal of trouble getting the 25 "quality" contacts on a daily basis. I have basically learned the hard way that this is a game we have to play to get to the promissed land. First I went out with a local rep fairly fresh out of PDP to see how he did it. We spent about two hours door knocking without 1 contact. At one house the owner's son answered the door, he asked him for the phone number. He let me know if you can get it, that counts as a contact (definitely not KYC approved). Second, I was getting frustrated and sent an e-mail out to my ATL and CC'd my RL. My RL called me promptly and said, "just get the numbers to keep them off your back", if a dog chased you at that house, it was a contact. Print out the directory for your service organization and log them (Just make sure later they know you may call them!). The third happened the other day. Talking with my ATL, they were concerned that my contact list did not have any contacts without phone numbers!! I had assumed it wasn't a contact without a phone number, and am furiously pounding out dozens of contacts, that seemed could be quality, without the phone. I could move about $1mm in rollovers and sell at least $100K in munis tomorrow if I had the sell date, but my "contacts" are behind. This is truly just part of a training process that lets us know the general rules of the game, and weeds out the unworthy. I truly believe the earlier posts were dead on. Just get what you need for Eval/Grad, take your lumps, and then it is game on!
If it makes it easier for you guys, when I was with Jones I got so sick of not getting the phone numbers when I asked I just stopped asking. If I had a good conversation they were going to be called if I could find their phone number. Out of 1500 prospects only one dude called me out on it, I told him sorry for the mistake and that I wouldnt bother him again. Click.
Whitepages.com baby!
yes sir, people will remember you came to their door and thats all that matters
absolutely, gave him the bill good
[quote=Still@jones] You’ll make a great mom someday, Miss Jones. Worthless child: Mom, I can’t figure out my homework. Mrs Jones: Truth is you will likely fail! So, don’t try and don’t ask for help. You c@cky sonofabitch!ps: I’ve been taught that saying “I’m struggling” and asking for “feedback or advice” is the exact opposite of c@cky.
[/quote]
I just call it like I see it. I am a trainer with Jones as well as a mentor so that affords me the opprotunity to see loads of new FA’s. I always know which one are going to make it and which ones aren’t just by what they say in the first few minutes. If you were my trainee I would help you and encourage you but your not and therefore I don’t care. I am just being honest. You won’t be here in 6 months… Who cares, some new trainee will take your spot and we will be having this new conversation with them.
Right BSPEARS?
Miss J
You are absolutely right Miss Jones! I love honest, aggressive and sexy trainers. If you were my trainer, I might have stayed...
If Miss Jones was really honest, aggressive and sexy, she would be an FA.
Do people really leave Jones after just six months? I figured most stay at least long enough to siphon off some of Spiff’s LP, and then bail when the salary goes away.
She is. And evidently a pretty good one if she's doing all those things this early in her very promising career.If Miss Jones was really honest, aggressive and sexy, she would be an FA.
Why can’t i have an honest, aggressive, sexy trainer?
Mine reminds me of Elmer Fudd!
Are you looking for a date or to learn something? Concentrate.
Maybe it’s just the beer talking, but I’m enjoying this trip down memory lane, looking at my old posts…I figured I would reply to this one, just to bump it back to the top…
Looks like there’s a few posts which were converted to “troll”…I think they were by a guy called Wind…does anyone remember him?
Don’t bust on someone who is doing what you couldn’t/wouldn’t do.
No busting here…Me & Wind were friends…
and, if he’s opening $200k rollovers on a door-knock, more power to him.
All I was getting is sex with lonely housewives…I feel like such a loser.
I dunno if this will help anyone but I have no trouble getting phone numbers by first establishing a "question and answer" response mode with the prospect. They reflexively answer as if it was a test. "Okay thanks. Hey, I'd like to send you some information if I find an interesting investment. The street adress is...?" "27 Elm" "And Bill, how do I spell your last name? "Schmidt, s c h m i d t" "Great. And your daytime phone number is 555...?" Now stare at the pad and do not look up! In fact, never establish eye contact while they are answering these questions. "Yeah, 555-325-7853" "Thanks. I'll keep you in mind if anything interesting comes up." I swear, it works like a charm. When I went out to eval/grad I had 86% of my contacts' phone numbers. "Super. If I see something interesting, I'll keep you in mind." In order for this to work effectively, before you get to this wind-up you have to smile like crazy and exude positive energy and make them smile back.If it makes it easier for you guys, when I was with Jones I got so sick of not getting the phone numbers when I asked I just stopped asking. .
Here's a book suggestion, Never Eat Alone by Keith Ferrazzi. If you're sick of phoning and door knocking, my suggestion would be to read this book and start working your relationships. Its not magic. As some on this forum have suggested, things take time, particularly with younger folks. The colleague that suggested this book to me came into the business and has had one of the fastest starts in our firm's history. For perspective, the firm I'm with has 5000 + advisors and has been around for decades.
To be fair, this person has 10+ years in corporate accountanting and a CPA, but no experience in the financial world otherwise. This person simply goes out to lunch almost everyday with someone, and partakes in a variety of networking functions. The last thing I'd say is, there are a lot of ways to be successful in our business. If you want to call 300-500 people a week, you'll probably make it. If you want to knock on every door in town every week, you'll probably make it. Buy I personally hate doing those things. I have had great success simply getting into the community and following the advice of the book I suggested. Best of luck to all of those out there. Some days our business feels so easy, other days it seems impossible.I dunno if this will help anyone but I have no trouble getting phone numbers by first establishing a "question and answer" response mode with the prospect. They reflexively answer as if it was a test. "Okay thanks. Hey, I'd like to send you some information if I find an interesting investment. The street adress is...?" "27 Elm" "And Bill, how do I spell your last name? "Schmidt, s c h m i d t" "Great. And your daytime phone number is 555...?" Now stare at the pad and do not look up! In fact, never establish eye contact while they are answering these questions. "Yeah, 555-325-7853" "Thanks. I'll keep you in mind if anything interesting comes up." I swear, it works like a charm. When I went out to eval/grad I had 86% of my contacts' phone numbers. "Super. If I see something interesting, I'll keep you in mind." In order for this to work effectively, before you get to this wind-up you have to smile like crazy and exude positive energy and make them smile back.[/quote] You sound like Penny Pennington herself![quote=Ron 14]If it makes it easier for you guys, when I was with Jones I got so sick of not getting the phone numbers when I asked I just stopped asking. .
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