Investment Classes

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Jun 6, 2008 3:13 pm

Does anyone have experience with teaching investment classes ? I have a bunch of stale prospect relationships and I was thinking about going in this direction. Ideas ? Thank you.

Jun 7, 2008 11:59 am
Ferris Bueller:

I ran up against a guy in my town that was doing that. He got paid by the community college to teach a class to retired people about investing. Low and behold, he tried to get one of my clients to move 700K into an equity index annuity. So once I educated the client that it wasn't a good fit for him, I blew the whistle with the college that he was making recommendations to his students. What an asshat.

 
The larger question is, "Why did Ferris' clients feel the need to take investment classes?". Was it to "check-up" on what Ferris had recommended? Or were they going to dump Ferris, save a ton of money on fees and commissions, and do it on their own? Or were they gathering information to eventually build a lawsuit against Ferris? Hmmmm...
 
Just yankin' yer chain, old boy!
Jun 7, 2008 4:03 pm

I have taught many classes. Jones just updated their investment class series, and it is very good. I use it as my blueprint. I teach through a few different locations, and it has been VERY effective. Not only have I picked up some rather large clients (though nothing earth-shattering), it has been great PR for me. A lot of people recognize my name in the course catalogs that go out to the community. It's a great deal for a few nights a month. It is PURELY educational though. I don't give any recommendations during class. More often than not, if the people in class have money (and sometimes even when they don't), they ask for an appointment, It's like a 4 week interview with a handful of prospects.

Jun 7, 2008 4:05 pm

One other thing - it's pretty much free, and I get reimbursed any costs that I incur (some by Jones, and some by the program I teach through - but my costs are so minimal, because it's not a meal/seminar thing). This is why it's rgeat for someone with either (a) access to a community that would jump at these classes, or (b) someone without a lot of funds to run seminars.

Jun 7, 2008 4:58 pm

yeah, I do a similar think as B24, Mine is 3 times per year, a 3 week course on Estate planning I co-teach with an attorney.  Quality of prospect is high due to them paying to attend.  usually 6-8 students per semester and I average 1.5 new clients per semester with 250-300k avg account size.  Good return for minimal time committment.

Jun 9, 2008 9:30 am

I am looking at these ultimately from a sales perspective, but in the short term, as a way to meet people and develop relationships. Should these be held at my office or at a neutral site such as a library or coffee shop ? Also, how many sessions should there be? I find it hard to believe that people would show up 4 or 5 straight weeks.

Jun 9, 2008 7:33 pm
GT Key:

 Also, how many sessions should there be? I find it hard to believe that people would show up 4 or 5 straight weeks.

 
Depends on the teacher.
Jun 11, 2008 4:07 pm

I hold them at schools.  The two programs I do them through are high school continuing ed programs and a comm. college non-credit adult ed program.

 
If you present them as classes, as opposed to a "seminar", people view them that way.  They also pay to go to my classes (though I waive any fee that the schools would pay me, as this just drives up the cost to the students), so you are getting committed people, not "platelickers" looking for free food.  Not that they all have money, but they are at least very serious about learning and being there.