My Book Building Success

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Nov 30, 2006 1:32 pm

I have been in the industry for a little over 3 years and I have used 1 main method in order to cultivate clients: Seminars. I have done seminars at churches, temples and synangogues on Estate Planning, always having an Estate Planning Attorney present at every seminar so that we can 'sell' each other in a very warm manner.



I cold called my first year only as I was a new FAA and brand new to the business as a whole. I did end up with a little success from this method as well.



I also do Cocktail Parties at Retirement Panning Villages and am proud to say have a fantastic relationship with Norwegian Cruise Line that helps me get in front of approx 1,500 people a month.



Results over 3 year period: As of 11/30/06



$81.7mm AUM and 27 'deep' relationships developed. Also, 90% of my business is fee-based.



This may not be the highest number on this board or the shortest time frame but keep in mind I did this on my own and I'll be reaching $100mm AUM by the Summer of '07. This is my goal and at this point should not be hard to achieve.



Seminars have been a great prospecting method for me and I hope you people can see that it can also be done without beating the phones to death, even though I do miss the excitement of it all.



SBAdvisor.

Nov 30, 2006 3:30 pm

How old/young are you SBAdvisor?  How did you secure the relationship with Norwegian Cruise Line?

Nov 30, 2006 3:48 pm

Hey dude, I'm 30 years old and I started the relationship with Norwegian after I had taken a cruise and spoke to the cruise entertainment director, she got me in the door. 12 meetings later I signed an official contract to conduct financial planning seminars while their ships are docked.



I'm pretty young but extremely passionate about success.

Nov 30, 2006 4:05 pm

Thanks SB, you're an inspiration.

Nov 30, 2006 4:13 pm

I'm not at the level I would like to be at yet. I am the youngest FA in my office but I'm also one of the most agressive. I only have a Bachelors degree so I'm not that smart I just know how to articulate my point so effectively that not many people can say no to me. It's something that I've really refined over the last 24 months. Thanks for the kind words.



Nov 30, 2006 4:44 pm

With the cruise line, are you licensed in every state?  If not, how do you handle someone from state x wanting to do business with you?  I assume if the account is large enough, you can just get the registration. Is there a rule about not prospecting to people who live in a state where you are not licensed?

Nov 30, 2006 5:31 pm

I only handle business with clients in some select states. I am only licensed in 9 states so I only work with those people. Also, I have found the type of people that I would like to invite into my practice seem to come from the sates I am licensed in, maybe a coincidence.

Nov 30, 2006 6:27 pm
SBAdvisor:

I have been in the industry for a little over 3 years and I have used 1 main method in order to cultivate clients: Seminars. I have done seminars at churches, temples and synangogues on Estate Planning, always having an Estate Planning Attorney present at every seminar so that we can 'sell' each other in a very warm manner.

I cold called my first year only as I was a new FAA and brand new to the business as a whole. I did end up with a little success from this method as well.

I also do Cocktail Parties at Retirement Panning Villages and am proud to say have a fantastic relationship with Norwegian Cruise Line that helps me get in front of approx 1,500 people a month.

Results over 3 year period: As of 11/30/06

$81.7mm AUM and 27 'deep' relationships developed. Also, 90% of my business is fee-based.

This may not be the highest number on this board or the shortest time frame but keep in mind I did this on my own and I'll be reaching $100mm AUM by the Summer of '07. This is my goal and at this point should not be hard to achieve.

Seminars have been a great prospecting method for me and I hope you people can see that it can also be done without beating the phones to death, even though I do miss the excitement of it all.

SBAdvisor.


I think you're lying.

Nov 30, 2006 8:15 pm

I know he is lying.

Nov 30, 2006 8:24 pm
My Inner Child:
SBAdvisor:

I have been in the industry for a little over 3 years and I have used 1 main method in order to cultivate clients: Seminars. I have done seminars at churches, temples and synangogues on Estate Planning, always having an Estate Planning Attorney present at every seminar so that we can 'sell' each other in a very warm manner.

I cold called my first year only as I was a new FAA and brand new to the business as a whole. I did end up with a little success from this method as well.

I also do Cocktail Parties at Retirement Panning Villages and am proud to say have a fantastic relationship with Norwegian Cruise Line that helps me get in front of approx 1,500 people a month.

Results over 3 year period: As of 11/30/06

$81.7mm AUM and 27 'deep' relationships developed. Also, 90% of my business is fee-based.

This may not be the highest number on this board or the shortest time frame but keep in mind I did this on my own and I'll be reaching $100mm AUM by the Summer of '07. This is my goal and at this point should not be hard to achieve.

Seminars have been a great prospecting method for me and I hope you people can see that it can also be done without beating the phones to death, even though I do miss the excitement of it all.

SBAdvisor.


I think you're lying.



Hey, aren't you the one who has accused others of being guilty of that which they accuse others of? 


You know the logic...usually it's the criminals who are most fearful of others cheating them because they can concieve of it so easily.


Honest people usually have difficulty concieving of deceit and are often the ones who are easiest to cheat.

Nov 30, 2006 8:27 pm

I'm going to assume he's being honest until his behavior indicates that he's disingenuous. 


Assuming he's telling the truth, I find his story believable.

Nov 30, 2006 9:12 pm

I thought you were only in the business 3 years?



http://www.dohertypa.com/practice/sea.htm

Nov 30, 2006 11:04 pm
dude:
My Inner Child:
SBAdvisor:

I have been in the industry for a little over 3 years and I have used 1 main method in order to cultivate clients: Seminars. I have done seminars at churches, temples and synangogues on Estate Planning, always having an Estate Planning Attorney present at every seminar so that we can 'sell' each other in a very warm manner.

I cold called my first year only as I was a new FAA and brand new to the business as a whole. I did end up with a little success from this method as well.

I also do Cocktail Parties at Retirement Panning Villages and am proud to say have a fantastic relationship with Norwegian Cruise Line that helps me get in front of approx 1,500 people a month.

Results over 3 year period: As of 11/30/06

$81.7mm AUM and 27 'deep' relationships developed. Also, 90% of my business is fee-based.

This may not be the highest number on this board or the shortest time frame but keep in mind I did this on my own and I'll be reaching $100mm AUM by the Summer of '07. This is my goal and at this point should not be hard to achieve.

Seminars have been a great prospecting method for me and I hope you people can see that it can also be done without beating the phones to death, even though I do miss the excitement of it all.

SBAdvisor.


I think you're lying.



Hey, aren't you the one who has accused others of being guilty of that which they accuse others of? 


You know the logic...usually it's the criminals who are most fearful of others cheating them because they can concieve of it so easily.


Honest people usually have difficulty concieving of deceit and are often the ones who are easiest to cheat.



Nope. Not my style. Only a baby would do that. I think it was one of the bank kids.

Dec 1, 2006 1:40 am
bankrep1:

I know he is lying.



...and why is that?

Dec 1, 2006 5:58 am
bankrep1:

I thought you were only in the business 3 years?



http://www.dohertypa.com/practice/sea.htm




How does a guy stay on top of the markets when he is floating out in the middle of an ocean 6 months a year?

Dec 1, 2006 9:33 am
joedabrkr:
bankrep1:

I know he is lying.

...and why is that?





Joe,



Do you believe him?

Dec 1, 2006 9:35 am

Nothing to lie about here. By the way the only time I conduct seminars on the cruises is not when they are at sea but when they are docked overnight. Seems like a waste of time that I ever wanted to share my strat with some of you. Never mind, best of luck for the rest of the year.



SBAdvisor

Dec 1, 2006 9:42 am
SBAdvisor:

Nothing to lie about here. By the way the only time I conduct seminars on the cruises is not when they are at sea but when they are docked overnight. Seems like a waste of time that I ever wanted to share my strat with some of you. Never mind, best of luck for the rest of the year.

SBAdvisor


I do a lot of seminars at The White House. It's a nice joint and most people will accept the invitation that The President sends out for me. I don't have to pay for the room and I have wholesalers pick up the tab for the extra Secret Service detail.

Dec 1, 2006 9:56 am
SBAdvisor:

Nothing to lie about here. By the way the only time I conduct seminars on the cruises is not when they are at sea but when they are docked overnight. Seems like a waste of time that I ever wanted to share my strat with some of you. Never mind, best of luck for the rest of the year.



SBAdvisor



Do you stay on the ship for the full week (or full two weeks,) or do you just fly into whatever port they happen to be docked at for the night?

By the way, since when do cruise ships dock overnight? I've been on a lot of cruises, and I have never been on one that docked overnight.

Dec 1, 2006 10:30 am
mktsystms:
SBAdvisor:

Nothing to lie about here. By the way the only time I conduct seminars on the cruises is not when they are at sea but when they are docked overnight. Seems like a waste of time that I ever wanted to share my strat with some of you. Never mind, best of luck for the rest of the year.

SBAdvisor



Do you stay on the ship for the full week (or full two weeks,) or do you just fly into whatever port they happen to be docked at for the night?

By the way, since when do cruise ships dock overnight? I've been on a lot of cruises, and I have never been on one that docked overnight.


If they're docked overnight, there's no passengers. Did I mention that this guy is a liar?