Had a little success cold calling

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Jan 22, 2011 1:31 pm

I have three different cold call campaigns. Two product and the other review/servcie.

Product script A) is stolen from judge. Product script B) is stolen from bondguy.

A) This is BOLIO. I am an investment broker with BOLIO Securities.

Would you have any interest in receiving some information on an investment that has an outstanding track record... It has averaged better than 12% a year for the last 39 years... as amatter of fact, even in the last miserable decade for investors, it has still averaged better than 12%.

Would you object to my stopping by  one day... for 5 minutes... to drop off some information about this investment?

- My fallback is to mail a Morningstar to them.

B) Today I was buying 5% tax free bonds for my clients. I don't have any left, but, if I were to find some more of them... would you want me to give you a call?

Bondguy gets right to the point and it does get people talking. However it takes me multiple calls to get an appointment. I know this is my fault and my firm/manager has NO interest in opening an account over the phone and actually holding the bonds for a check to come in. However This week,I DID open an account over the phone. I had called him 4 times and told him that all these bonds that were being sold by my company had one thing in common. All of the new owners had an account with my firm and he should too. He gave me the info and I overnighted the paperwork and he is overnighting the check (50K) back to me. It did not even hurt. :)

I have written some business with the first script. Most people are just wanting to hear what the investment is. But I tell them that it is nothing magical just something that we use for a portion of most of our clients' portfolios.

I get them to say that the want to meet with me and then I tell them that there is a $25,000 minimum and do they STILL want to meet with me. If they say yes, I go. In the last three weeks I have made 6 presentations and written almost 100k in an A share(SGENX). I wrote 2 of the 6 on the spot and have gotten to do reviews for 2 others. The two I am doing reviews for have over 500k in their protfolios. My view is that I am being paid to prospect for larger accounts. $25,000 @ 5% = $1,250 in production.

My review script was stolen from here also.

I say that I am part of a financial planning team and we focus on qualified investors. Qualified investors allow us to deliver a higher level of service. YAda yada.

 I try to sound friendly but kinda "above it all" also. I am calling execs in publicly traded companies for this one... some attorneys also. I make them qualify themselves. They always ask what a "qualified invesor" is. I tell them that our clients have over 1 mm in investable assets unless there is a special circumstance. I have had only one appointment from this script. However, he told me he did not have 1mm. Only 500k from aold 401 k. I saw him and got the account opened and the acat hit this week.

Thanks for everyone who helps on this site.

Jan 22, 2011 2:55 pm

Just make sure you are aware that they changed fund manager last year (or was it the year before) so the guy who rolled up all those great returns is gone..

Great job.. 

Jan 22, 2011 3:51 pm

Nice post....

Why would you want to do A shares though and make almost nothing going forward.

Jan 22, 2011 8:38 pm

I use the A share on small accounts. If a person has 100k or above, then I would look at one of our advisory platforms. I don't really care about the comission on the A share other than it pays me while I hunt for larger accounts.

Jan 23, 2011 10:17 am

Excellent post!