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Jan 12, 2006 7:18 pm

Do you think it is better to call businesses regarding personal investments or retirement plans (in S. Florida)?

Jan 12, 2006 8:09 pm

In this day and age when  everyone is calling businesses for those reasons, try something different. We have a guy who is doing very well by calling business regarding their cash management needs. He tells them about the VRDO/ VRP option to regular money market accounts. Granted, he is getting the accounts but making very little. BUT- its a way in the door to get a look at the 401K, DB, and personal money...... he then has done fairly well at capturing other assets that actually pay out nicely..


Just something different to think about......

Jan 13, 2006 8:54 am

Thanks

Jan 13, 2006 9:03 am

here's a story I just read in one of the trade mags - there's a rep that starting calling executives to discuss concentrated positions and strategies dealing with that and obviously stock options.  He would get one of the investment papers that disclosed insider trading information, get the names, find their numbers and begin talking to them about those certain strategies.  It was a great way for him to get into that market and also in a high net worth market.

Jan 13, 2006 9:34 am

thanks!

Jan 13, 2006 4:41 pm

I call business owners to go after their personal money and I have good success with it.  I tell them briefly who I am and then ask for a maximum of ten minutes of their time for me to stop by to tell them what I do and why it is very unique.  Once I get through to talking to someone on the phone they often just say well why don't you tell me briefly what it is that you do that's so different.  That is my opening and then from there I get the appointment.  I call larger successful business in the industrial part of town like roofing companies, waste management companies you name it.  My call list is the yellow pages. Once a month I also cold walk those areas with success using the same introduction.  


I am a tactical mostly absolute return manager and I do all the investing myself using my own technical research so having something that actually is unique what ever it is I think is key.

Jan 14, 2006 10:09 am

Too many people vying for the 401(k) money. More times than I can remember i put together a proposal, did a kickass presentation only to find out the presidents brother in law is a broker and had the business all along- I was one of the 2 others chosen for quotas sake.


I learned long ago to go after the personal business first, which opens the door for the corporate accounts. I call initially about an account where you participate only in the gains of the market but none of the losses.(eia's).Ask if they'd like more info and they say yes mail it, I say what I normally do is stop by, hi-lite a few points and leave the info.I'll be downtown by you tomorrow at 8:15 I can see you then- will you be there? Great. do you have a pen handy? My #'s  __________. Call me if something comes up, otherwise I'll see you then.


Understand my goal isn't to open an EIA account there, my goal is to get in front of a potential client with multiple needs and assets, probe for pain and provide solutions.


I make an average of 15 contacts per day,set 2 appointments per day and usually open 2-3 new accounts per week.


Go for the personal account!


Stok

Jan 14, 2006 3:29 pm

"Too many people vying for the 401(k) money. More times than I can remember i put together a proposal, did a kickass presentation only to find out the presidents brother in law is a broker and had the business all along- I was one of the 2 others chosen for quotas sake."


I ran into that situation about 5 months ago. Was competing for a 1.8MM 401K, but the real opportunity was that only 30% of the employees were particpiating, and the top 8 exec's were all making over 150K... We met 3 times with HR director, COO, and then the founder, only to get shot down when the CFO's neice ( who was reecently licensed and starting with UBS) got the account... We still got a few nice relationships from personal $ but it was infuriating that we lost the deal due to family relationships..... OH WELL, it is what it is.

Jan 14, 2006 8:34 pm

blarmston:

 We met 3 times with HR director, COO, and then the founder, only to get shot down when the CFO's neice ( who was reecently licensed and starting with UBS) got the account... We still got a few nice relationships from personal $ but it was infuriating that we lost the deal due to family relationships..... OH WELL, it is what it is.


----------------------------------


Check-in on the CFO, from time to time. As soon as the CFO leaves for another job (or is canned) swoop-in and snatch the 401(k).

Feb 13, 2006 1:40 pm

Anyone calling businesses?  I just dialed 572 residences and got almost 400 DNC!

Feb 13, 2006 1:51 pm
stokwiz:

Too many people vying for the 401(k) money. More times than I can remember i put together a proposal, did a kickass presentation only to find out the presidents brother in law is a broker and had the business all along- I was one of the 2 others chosen for quotas sake.


I learned long ago to go after the personal business first, which opens the door for the corporate accounts. I call initially about an account where you participate only in the gains of the market but none of the losses.(eia's).Ask if they'd like more info and they say yes mail it, I say what I normally do is stop by, hi-lite a few points and leave the info.I'll be downtown by you tomorrow at 8:15 I can see you then- will you be there? Great. do you have a pen handy? My #'s  __________. Call me if something comes up, otherwise I'll see you then.


Understand my goal isn't to open an EIA account there, my goal is to get in front of a potential client with multiple needs and assets, probe for pain and provide solutions.


I make an average of 15 contacts per day,set 2 appointments per day and usually open 2-3 new accounts per week.


Go for the personal account!


Stok



Stok, great stuff, as usual.