$250,000 Minimum on 1st call

or Register to post new content in the forum

14 RepliesJump to last post

 

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Nov 20, 2009 7:50 am

All decent prospects has investments net of their house and 401k of at least $250,000.

What is the best "by the way"...

BTW My practice specializes in the needs of families who have investments of at least 250m; does that describe your situation?

Is there a better way to say this? Thanks!

Nov 20, 2009 9:25 am

ROOGLE!

Great now I'm saying it.

I use "we run two portfolios -one for hnw investors with portfolios over $250,000 and the other for investors with $50- 100,000 portfolios"

That usually gets them talking (if they are really interested). It doesn't sound too cold and has worked well for me.

Nov 20, 2009 9:54 am

How would you start that call?

Nov 20, 2009 12:09 pm
henrybar:

How would you start that call?

 
I'd start by dialing the phone!
 
Sorry henry, you had that one coming, i couldn't resist.
 
Money question is a qualifying question. Add it to whatever you are pitching
 
For example:
 
After asking for interest in a tax free bonds the prospect indicates interest, the qualifcation question goes like this:
 
Mr. Bar, we have two programs available, one for investors with less than $100,000 to invest and one for investors with more than $100,000 to invest, which program information would you like to see?
 
I'll answer your next question now - under gets mutual fund info, over gets muni bond info
 
Of course you can just prospect for money:
 
Mr. Bar I'm looking for a very special investor tonite, one who could raise $1,000,000 on a phone call. Is that something you could do? or- Does this describe you?
 
Ok, you don't have to ask for a mil, ask for less, however I suggest that everyone here man-up and spend some time asking for a million. Do that and you'll never have a problem asking for money again. And, maybe you'll find someone who says YES! So make sure you've got something to say after the money question.
Nov 21, 2009 11:53 pm

It's not a question of enough, pal. It's a zero sum game, somebody wins, somebody loses. Money itself isn't lost or made, it's simply transferred from one perception to another.

Nov 21, 2009 11:55 pm

We get it, you've seen Wall Street a few times.

Nov 22, 2009 1:23 pm

I've always been partial to Boiler Room.... its newer. =)

and lately, Wall St Warriors was kind of fun.

Nov 23, 2009 10:30 am

What is Wall St Warriors

Nov 23, 2009 10:41 am

One of the best shows ever.  I've seen Season 1 and 2, not sure if there is a 3.  Go to Hulu.com and watch them.

 
Funny story, I was at a FINRA conference in Chicago last fall (Oct 2008), and turns out a FINRA examiner I met there busted one of the guys from that show - "The Hard Sell."  I don't remember if it was season 1 or 2, but basically after FINRA saw him on the show, they decided to investigate him.  I believe he is now barred from the industry.
Nov 23, 2009 10:43 am

So what is it a documentary?

Nov 23, 2009 11:11 am
Wet_Blanket:

One of the best shows ever.  I've seen Season 1 and 2, not sure if there is a 3.  Go to Hulu.com and watch them.

 
Funny story, I was at a FINRA conference in Chicago last fall (Oct 2008), and turns out a FINRA examiner I met there busted one of the guys from that show - "The Hard Sell."  I don't remember if it was season 1 or 2, but basically after FINRA saw him on the show, they decided to investigate him.  I believe he is now barred from the industry.
 
Haha nice

Its definitely in the general public's best interest to never participate in a reality show... but then again it is the general public.
Nov 23, 2009 11:21 am
gethardgetraw:
Wet_Blanket:

One of the best shows ever.  I've seen Season 1 and 2, not sure if there is a 3.  Go to Hulu.com and watch them.

 
Funny story, I was at a FINRA conference in Chicago last fall (Oct 2008), and turns out a FINRA examiner I met there busted one of the guys from that show - "The Hard Sell."  I don't remember if it was season 1 or 2, but basically after FINRA saw him on the show, they decided to investigate him.  I believe he is now barred from the industry.
 
Haha nice

Its definitely in the general public's best interest to never participate in a reality show... but then again it is the general public.
 
The kicker is that for all of this talk, FINRA discovered that he was one of the lowest producers in the office.
 
Squah - it is a sort of reality TV show / documentary.  Each season they follow about 7 industry professionals.
 
The first season they followed 2 Hedge Fund managers, 1 recent college grad that took a job as a day trader, some sort of financial lawyer / networker, a commodities floor broker, a private fund manager, etc. etc.
 
I find it really interesting because they usually follow a wide range of different professions.
Nov 23, 2009 11:28 am

I looked up the two guys who were brokers from the second season, and both are now out of the business..

Nov 23, 2009 11:30 am
henrybar:

I looked up the two guys who were brokers from the second season, and both are now out of the business..

 
Was it the guys that were all about Sandisk?  If so, I know "The Hard Sell" was out, as stated above, but didn't know about the other guy.