Prospecting Docs

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Dec 28, 2007 6:49 pm

I had a doctors account fall in my lap and it is a great account.  The doctor has a very solid equity account and has now come to me with his office retirement plan.  I have not focused on prospecting doctors because they are extremely difficult to get a hold of and I end up wasting time dealing with gate-keepers.  Has anyone been successful at prospecting doctors, how did you get a hold of them, and what has been their most pressing need?

Dec 28, 2007 9:01 pm

I know one guy who has built most of his practice on docs.  He did it through referrals from a single CPA.

Dec 29, 2007 9:15 am

My unfortunate experience is that doctors can be among the biggest P.I.T.A. clients of all.  Too smart to take advice, because obviously they know everything.

Over-generalization?  Of course.  But not by much.

To me ANY client who resists accepting professional advice isn't a client I want to mess with.  Life's too short for that . 

Dec 29, 2007 10:48 am
Morphius:

My unfortunate experience is that doctors can be among the biggest P.I.T.A. clients of all.  Too smart to take advice, because obviously they know everything.

Over-generalization?  Of course.  But not by much.

To me ANY client who resists accepting professional advice isn't a client I want to mess with.  Life's too short for that . 

 
The guy I referenced is a giant tool, so he is perfect match to work with doctors.
Dec 31, 2007 9:20 am
bondo:

I know one guy who has built most of his practice on docs.  He did it through referrals from a single CPA.

 
I have a few, and once you get them and get the allocation right and do the upfront work (the PITA part), they are actually VERY easy, because they don't have enough time in the day to complain to you.  Now, if you are a transactional broker, I would stay away, as doctors are too difficult to connect with and get an answer from.  But if you are more planning-based, fee based, allocation based, where you don't need to constantly contact them for transactions, it can be pretty sweet business.