Starting my 500 day war NumbersGeek. Goal is $25mm AUM

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Feb 4, 2012 9:42 pm

Hi everyone,

The purpose of this post is to begin my 500 day war journey. It will be a bit different than the traditional methods used on this forum. I'm a life licensed rep so I will be pushing a fixed annuity. Why am I pushing annuities? Well, my indy requires a monthly fee of $400 when series 7 licensed. And I just cannot afford to pay that as of yet. So I figure, I will try to net some annuities sales while I'm studying for the 7/63 or 6/66. Unfortunately, I cannot afford a list so I will be calling straight out of the phone book. Most people in this area have a choice to list their number or not. So I'm assuming those who have listed their number have done so to get soliciting calls.

My script:
Hi <Mr. Jones>, My name is <NumbersGeek> and I have an investment which pays a <5%> return. Do you have any investments which pay that much? <Yes> That's great, when was the last time you had your finances checked? I can run a financial health check in about 5 minutes. <No> Do you have 10 minutes to spare so I can tell you all about it? <Yes> It is a fixed annuity provided by ING. We are the 12th largest company in the world. So you don't have to worry about us asking for a government handout. Tell me, how much in investments do you have?(continue qualifying the prospect) <No> Can I mail you some information regarding the services I provide? <Yes> What is your name and address? <No> How about I call you in a week and see where we can go from there, Thanks.

Day One begins on Monday.

Please feel free to provide some advice. I'm not perfect. =)

Format for updated posts will be in:

Dials: <Number>
Contacts: <Number>
Prospects: <Number>
AUM: <Number>
Accounts: <Number>

I think its a great idea to post AUM/Accounts numbers so I(you) can track my progress. Its nice to see if someone succeeds or not at this 500 day war.

Feb 5, 2012 12:27 am

[quote=NumbersGeek]

Hi everyone,

The purpose of this post is to begin my 500 day war journey. It will be a bit different than the traditional methods used on this forum. I'm a life licensed rep so I will be pushing a fixed annuity. Why am I pushing annuities? Well, my indy requires a monthly fee of $400 when series 7 licensed. And I just cannot afford to pay that as of yet. So I figure, I will try to net some annuities sales while I'm studying for the 7/63 or 6/66. Unfortunately, I cannot afford a list so I will be calling straight out of the phone book. Most people in this area have a choice to list their number or not. So I'm assuming those who have listed their number have done so to get soliciting calls.

My script:
Hi <Mr. Jones>, My name is <NumbersGeek> and I have an investment which pays a <5%> return. Do you have any investments which pay that much? <Yes> That's great, when was the last time you had your finances checked? I can run a financial health check in about 5 minutes. <No> Do you have 10 minutes to spare so I can tell you all about it? <Yes> It is a fixed annuity provided by ING. We are the 12th largest company in the world. So you don't have to worry about us asking for a government handout. Tell me, how much in investments do you have?(continue qualifying the prospect) <No> Can I mail you some information regarding the services I provide? <Yes> What is your name and address? <No> How about I call you in a week and see where we can go from there, Thanks.

Day One begins on Monday.

Please feel free to provide some advice. I'm not perfect. =)

Format for updated posts will be in:

Dials: <Number>
Contacts: <Number>
Prospects: <Number>
AUM: <Number>
Accounts: <Number>

I think its a great idea to post AUM/Accounts numbers so I(you) can track my progress. Its nice to see if someone succeeds or not at this 500 day war.

[/quote]

I'll love to follow this, but first a couple things.

Fixed annuities are paying 5% or anywhere close? If so I suppose.. otherwise you could try pitching index annuities and the bonus. I think that only requires life license for your time being.

I highly recommend going ahead and getting your 7, it won't take as long as you may think.

Also, after getting your 7, (even before I'm sure), you're not limited to your indy's requirements of $400/mo, go somewhere else that'll be more accomodating! Of course best of luck with the annuities, I thought about that as well early on, but really didn't see nearly the anecdotal evidence of it working to build a business like bonds, preferred and even TF funds. Also, call businesses, don't just call out of the phone book!

Feb 5, 2012 12:56 am

The 5% was just an example. I really want to try munis like many have done so on this forum. But I'd have to pay for my series 7 testing prep/fees and well, i'm on a fixed income of $6xx. Which is why I'm considering the series 6/63 to save on some costs and try to do a mutual fund pitch.

The way I figure it, if I can't sell an annuity or mutual fund, there's no reason for me to be in this business.

Feb 5, 2012 7:42 pm

Wasnt AIG the largest?

Feb 15, 2012 3:39 pm

Sorry haven't updated in a while. Finally received my life insurance license. So I'll be updating more. A change of plans; i'm focusing primarily on term life insurance.

Feb 24, 2012 6:02 pm

How much do you make selling term insurance?

Feb 26, 2012 10:10 am

[quote=NumbersGeek]

Sorry haven't updated in a while. Finally received my life insurance license. So I'll be updating more. A change of plans; i'm focusing primarily on term life insurance.

[/quote]

I would try to stick with investments, you'll benefit long term by not being an insurance guy.