Old leads

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Jun 7, 2006 5:40 pm

I tried something interesting today.  I pulled out a stack of old leads/prospects.  The 'dead file" as it were.  Some of the #'s were wrong; some barely remembered my from our chats from 5-8 years ago.  Anyways.....


I called them and basically said that I wanted to get in touch about the income fund I had recommended in 1998-1999 (talk about contrarian!) and how it has performed.  I told them that I am currently looking to add 15 new clients to my practice, and if they had 250k to put into an investment very soon I would entertain working with them.  Yeah, I kinda turned the tables on them.


Some blew me off for various reasons.  One scheduled an appointment.  Another said "what about 200k? I can swing that at present time." Opened a new account and started processing an ACAT (from Schwab) all via fax.

Jun 7, 2006 5:54 pm

It's usually a good idea in slow times to bring out old prospects and try to reinitate contact.  You'll always run into a lot of bad numbers and NI's, so it's often just not an effective use of time.  You might consider paying someone $8/hour + appointment bonus to do the dials and set appointments for you while you do other things.


It always puts a smile on my face when I raise one of those leads from the dead!

Jun 16, 2006 11:20 am

I have just begun starting all meetings with them signing an ACATS and at the end of the meeting if they do not want to transfer, I rip it up!