CraigsList
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You guys are too funny. I wonder sometimes how many of you live within 100 miles of the friendliest city in the world.
Thanks for the apology Emoticons are much appreciated on this forumThis is exactly my point. Some of you guys have no sense of humour. i’m not taking any cheap shots, bond. It was a friendly jab at the over thirty crowd. I apologize for the misunderstanding. Next time i’ll use an emoticon to make it easier for you to differentiate between a joke and a serious statement. Thanks for the history lesson, although it isn’t anything any AP eighth grader doesn’t already know. What’s next, a lesson on Schroedinger’s Cat? Where do you teach? I’d love to sit in on one of your lectures Just because the nine dots is a 90 year old puzzle doesn’t make a less valuable concept. I will be the first to admit I don’t even come close to knowing it all. The fact that you think that I think I do, just because I quoted a cliche is what is scary to me.
Here is another obvious cliche for you: the insecure man who tries to build himself up by putting others down. time for some serious introspection, bub.(insert emoticon here)
On a more sincere note. I have however found most of these replies to be helpful. There are many points that I didn’t consider and I thank all for participating. Thank you to all who responded with constructive criticism and advice and not purile attempts at sarcasm.
[/quote][quote=Morphius] [quote=Akkula][quote=mrdead]Just a little “outside of the box thinking”. I know this can be frightening for anyone over the age of 30, but there really is nothing to lose in trying. The fact that this idea is so reviled leads me to think that it might be only a little bit stupid. I’ve heard worse.
Why don't you tell your BOM at ML - as soon as you complete training - that you want to try this "outside the box" thinking, Akkula. We can't wait to hear his reaction!!
[/quote] Not that I think it is a good idea--he just characterizes you old, stuck in your ways codgers quite well. For such "risk takers" and "entrepeneurs" some people on this board really like to stick to the same old, same old. Even if the idea has little merit, no harm in kicking it around a bit. I am sure people thought selling a $5 cup of coffee was dumb too and $2 a bottle tap water. I wish I had some of those dumb ideas. [/quote] Akkula, here's the problem. Because we shot his idea down you catergorize us as old stuck in our ways codgers. Yet, the reason we shot it down is because it sucked. It has nothing to do with our codgerness. Here's the deal; any rookies out there who want to advertise their services in the penny saver, go for it! Any rookies who want to advertise on the dregs of the internet where poe people hang out, go for it. Maybe you can find three people who can pool a 1000 bucks and buy a UIT. Expect to haggle over the sales charge. Here's the reality. Depending on your employer rookies reading this have to raise between 7 and 15 million dollars a year to keep their seats. Same for us vets. And us old codgers, who are stuck in our ways, have managed to do this, year in, year out, for a long time. So we know a thing or two about finding and caputuring the M-O-N-E-Y! But you don't have to listen to us. You can reject us with your smarter than we replies, or you can search this forum for the wisdom it contains. This business isn't about reinventing the wheel. Find something that works and clone it. If you decide you want to innovate instead of hanging out with the bargin hunters on Craigslist , how about hanging with the people who have money? For example; I've heard that people who own airplanes have lots of money. Airplanes are expensive to own. Hmm, how to find airplane owners? Well, the AOPA is an organization of aircraft owners that will sell it's list of members and let you advertise in it's publications and on itswebsite. This is just one example of finding the M-O-N-E-Y. I ask you, does it make more sense to put yourself in front of people who have the money to afford a million dollar airplane or those looking to by used bicycle tires on Craigslist? Figure it out, get back to us.
Prior to getting into the Financial Advisory business, I spent years doing marketing programs for private health clinics and we used to use Craigslist as well as classified print ads for marketing, but the key was we never directly advertised our services, but rather offered free educational materials that were related to our business, ie "Free research report on new solutions for Carpal Tunnel Syndrome" and we received a great deal of inquiries with the natual result being that the offer sparked a dialogue between the prospect and the health professional which led to the transaction of business (not always, but often) I imagine that if you wanted to go the CL route, you could put something together that would be pre-approved by compliance and would possibly target a younger market and then post that offer on CL.
just a thoughtGuys, I was just being a jerk; I know this forum can appreciate that! My remarks were a bit facetious when I called some "codgers."
I guess the point I was trying to make is to keep an open mind to new ideas. Age doesn't have anything to do with open mindedness. Sometimes ideas that sound dumb up front can morph into a good one after they are discussed and mulled over.
While advertising on Craigslist probably won't fly for many reasons, perhaps internet marketing in general could be successful (good point above Keith W). Have any of you tried to become a sponsored link on Google when the word "Equity Indexed Annuity" is searched?
Bondguy, I do appreciate your well reasoned, thought out posts. They are of much higher quality that many you can read on this forum because you can dissect and attack ideas without insulting the person. That shows you have argument and discussions skills that have developed well beyond some of the schoolyard comments that are made all the time on this board (including my "codger" comment).
[quote=Keith W]
Prior to getting into the Financial Advisory business, I spent years doing marketing programs for private health clinics and we used to use Craigslist as well as classified print ads for marketing, but the key was we never directly advertised our services, but rather offered free educational materials that were related to our business, ie “Free research report on new solutions for Carpal Tunnel Syndrome” and we received a great deal of inquiries with the natual result being that the offer sparked a dialogue between the prospect and the health professional which led to the transaction of business (not always, but often) I imagine that if you wanted to go the CL route, you could put something together that would be pre-approved by compliance and would possibly target a younger market and then post that offer on CL.
just a thought[/quote]
I could be wrong, but this loops right back to the $$$$ revenue issue. Medical needs would most likely be covered under an individual’s health coverage which most people can afford (no politics, please); even those searching for “used bicycle tires”. It just cannot be compared to prospecting people’s investment wealth.
"I guess the point I was trying to make is to keep an open mind to new ideas. Age doesn’t have anything to do with open mindedness. "
Akkula, you are correct, but what comes across as a "new idea" to someone new in the business is not a new idea to a veteran. We're able to recognize many "new ideas" as recycled old ideas.Akkula, thanks for the kind words.
For the record we advertise on the net for leads and it does work. I'm not going to disclose what we do because it is too easily cloned and, well, we're pigs, we want it all to ourselves. That said, the leads generated require aggressive calling/closing techniques that would make your average wirehouse never closed a thing in his life 30 something manager blush. Luckily, our BOM is far from average. Because it requires aggressive selling/closing it's probably beyond the comfort level of most of today's crop of rookies. But does it work? You betcha!! Would other internet approaches work? I don't know. I do know, however, that any idea, regardless of the venue has to be directed at wealthy people or those with large sums of money in motion. Anything else is a waste of time. By the way, i did more or less attack that other guy, finaceguy, or whatever his name is. So, i'm far from being above it all. And it wasn't about age. it was about his disingenuous rejection of the advice given.Thanks for the humor, folks.
It’s great to think outside the box, and great to differentiate yourself. But, don’t forget that the reason that a lot of ideas are inside that box in the first place is because THEY WORK!
Right now, newbies in my office have about an 8% success rate (a dozen start and only one makes it past three years). The common thread that I see is that they do everything possible to avoid the tried and true. I did it myself for the first year and a half. One of those tried and true methods is to pick up the phone, call someone you don’t know, and introduce yourself. Before we get into a debate about whether cold-calling works or is dead, let’s save that for a different thread.
Craig’s List? No way. Although . . . maybe, just maybe, it could be a way to drum up demand for the AMS/ARPs/VRPs etc that all of our clients are stuck with. (“For sale, $25,000 pseudo-bond, pays a coupon like clockwork, and the clock works most of the time. You’ll want to hold this baby forever! Price: 25,000.”)
Take care!
None of my clients are "stuck" with that stuff. In fact, I am taking on big clients whose advisor elsewhere, much like you, has gotten them "stuck" in that market...so thanks!
Craig’s List? No way. Although . . . maybe, just maybe, it could be a way to drum up demand for the AMS/ARPs/VRPs etc that all of our clients are stuck with. (“For sale, $25,000 pseudo-bond, pays a coupon like clockwork, and the clock works most of the time. You’ll want to hold this baby forever! Price: 25,000.”)
Take care!
[quote=John Galt FA] Wow, you’re too cool for school.
[/quote]
Mr. Galt,
I thought your mission was to stop the motive power of the world…
Let me check my “Mission Statement.” That would be a good one to run past one of the Horsesmouth discussions, huh?
Take care NOLA!
How about putting a magnetic sign on the side of your car or putting an ad on a billboard? (slightly sarcastic)