Hire Cold Caller?

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Jan 25, 2008 1:01 am

First I apologize if this topic has been discussed but i could not find anything.





 
Of course I understand how you cannot offer/sell securities when unlicensed. 
 
However, is there any reason I cannot hire a salesperson to do the first leg of prospecting for me? 
 
Hi, this is blah blah, I work for gad a wonderful FA, he would love a chance to sit down with you and see if he might be able to help you improve your portfolio.  Should I have him give you a call?  
 
This could save a bundle of time (and yes prospecting pain) with not homes, and no thank you's and really help make my prospecting more efficient. 
 
Has anyone done this?  If so share your experience if you please.
Jan 25, 2008 6:14 am

This could save a bundle of time (and yes prospecting pain) with not homes, and no thank you's and really help make my prospecting more efficient. 

 
gad, It can work, but only if it doesn't save you time.  In other words, these calls have to be in addition to all of the calls that you are making.   They can't replace them. 
Jan 25, 2008 9:45 am

sure, you will still have to make multiple follow up calls to every prospect, and of course the person prob won't be AS effective as doing it yourself (unless you can actually find a really good salesperson) but at the end of the day it seems like it could be a big help

Jan 25, 2008 3:06 pm

I have an intern do it for free. I'm thinking in the big picture anybody that is good at cold calling wont be doing it for another person for long if they have half a brain.

Jan 26, 2008 9:05 am

However, is there any reason I cannot hire a salesperson to do the first leg of prospecting for me?

This is exactly what most wirehouses have been doing for years - they're called trainees! 

This really isn't far off from what happens in practice when 85-90% of newbies spend months or perhaps a couple years cold calling, then wash out and have the few fruits of their labor gobbled up by the BOM and/or big producers.

If you have an intern you think can be effective, why not give it a go and measure the results?  Like Anon said, I would just make sure this is done in addition to your current prospecting efforts - not in place of them!