Adding Value
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What are some ideas you are currently using to add value to your prospects?
My big pitch right now has been letting prospects know about the 2% raise they will be getting in their paychecks due to SS reducing the withholding from 6.2% to 4.2% and then trying to convince them they should allocate the extra 2% to starting up a roth with me.
What are some other hot topics are you using to get future clients in the door?
Clever
I've been calling on 10 yr and under tax frees... great yields and people are just sick of low rates. Good door opener.
I have had a couple discussions on this topic…
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ND- Haven't had too much luck with IRA conversions and getting people excited about that.
SM- Could not agree more about pitching rate. Right now might be the best time to be in or get in the business. People are earning 1% on CDs! How fricken hard is it to convince them that a 4-5% muni or an estate feature bond for Grandpa is better than the kick in the nuts he's getting from the bank.
One thing I have been running into lately though is a little bit of complacency with prospects, "my acct keeps going up, I am just going to leave it even though I haven't heard from my advisor in 32 years and my portfolio is 102% in Small Caps." How do you old "veterans" rebuttal?
Other than that little tid bit, there is really not a better time for me to be calling all your clients than right now.
[quote=Who do you know]
ND- Haven't had too much luck with IRA conversions and getting people excited about that. [/quote]
Me either for most clients but those that cannot contribute to a ROTH (no earned income i.e. non working spouse) they can make a non-deductible contribution to a traditional IRA and then immediately convert it to a ROTH and never pay taxes on that amount again.
It is for a specific type of prospect/client but they everyone likes to hear about ways to stick it to the IRS.