The War Path to Year End

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Aug 21, 2009 9:28 am

My business is down YoY.  I hope I am the only one, but most likely not.  We all have legitimate reasons why each of us may be down (divorce, death, kids, marriage, imploded book, etc...).  For one reason or another we have decided to remain in the field as our chosen profession. 


That was yesterday.  I want to begin this post to help each of us encourage each other to grind out the rest of the year.  Post success stores about raising assets.  Post information about good YTB and YTC trades.  Whatever it is, let's be positive to push through the rest of the year.  This way come December, we can be flat at worst YoY and hopefully up...
Aug 21, 2009 11:14 am

I have done several seminars lately, and it has been working well.  My referral business is also coming back.  But that has worked through staying in touch with COI's.

Aug 21, 2009 3:43 pm

I am trying to do another $4500 gross by aug 31st, utilizing cold calling and adds(local paper)

Aug 21, 2009 4:09 pm

Better bang out some calls with that goal... muni's or fixed annuities might work..possibly some non-trade REITS if you have some aggressive buyers...

But you would need about:

60K of Cole(7%)



Best Paying Fixed Annuities:

$110K of American General

150K of American Equity

225K of ING



Not impossible especially where the CD rates are now, might be able to scoop some of those up... Good Luck, not a very big time frame.

Aug 21, 2009 10:53 pm

I opened two accounts today off two seperate clients I door knocked within the last few weeks and have a few that I think will open accounts next week because of a good fixed annuity rate we have at Jones right now.  I've been working on these people for awhile but they wanted something short term and I finally have something so making calls the last three days has been sorta fun:


Client 1: 150k Bond UIT - Get the $$$ Sept 7th  <- This will be my biggest single order so far. Have accounts much larger but 6k gross will be my largest ticket.
Client 2: 19k 401k rollover into Mutual Funds
 
6190 Gross - 2445 Net  (if UIT lady does not back out, I think she is sold)
Aug 22, 2009 11:53 am

Good stuff voltmoie. Congrats.

Aug 22, 2009 1:13 pm

tqspygame, what are you looking at in the paper that would provide leads?  

Aug 24, 2009 9:59 am

I ran an ad for the past month or so on fixed and indexed annuities.

Aug 24, 2009 1:32 pm
frumhere:

My business is down YoY.  I hope I am the only one, but most likely not.  We all have legitimate reasons why each of us may be down (divorce, death, kids, marriage, imploded book, etc...).  For one reason or another we have decided to remain in the field as our chosen profession. 


That was yesterday.  I want to begin this post to help each of us encourage each other to grind out the rest of the year.  Post success stores about raising assets.  Post information about good YTB and YTC trades.  Whatever it is, let's be positive to push through the rest of the year.  This way come December, we can be flat at worst YoY and hopefully up...
 
Use a deadline.  With the reduction of guarantees in one well-known annuity, I closed just under $2MM in VA business in the month of August, about 90% was net new assets that were in either old 401k's or in cash from new clients.  I've also been spreading money out over muni, hybrid, and equity UIT's and asset allocation mutual funds.  Also have some index annuity business pending.  August was very strong, but as good as that wave was, I'm extremely pissed off about losing out on about another million of VA business.  You can't fix stupid people.
 
If you want to raise AUM and do some good gross for the rest of the year, pick a product and lead with it.  Have a couple other ideas in your back pocket for when your first is rejected.  Here's mine:
 
-Variable Annuities - Create a private pension and protect your future retirement income.
-Fixed Index Annuities - Protect principal, potentially increase your interest.
-Equity Linked CD's - 100% point to point interest on S&P-like index, FDIC insured, 5 year hold period, still pays us 3.725%. 
-Municipal/Hybrid UIT's - 6.25% tax free yield or 9% taxable yield.
 
Here is my opinion:  We are at a very unique window right now in the markets.  People are looking for leadership and good ideas with their money.  They are still open to other advisor's ideas and many folks are still very cash heavy.  The market is way up from the March low and now some people are feeling like they are missing out.  Find them while they are willing to hear other ideas especially when they feel they are missing out.  You can get them to move.
Aug 27, 2009 10:28 pm

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Aug 29, 2009 3:25 pm

We're setting up for a big end to the year with whats coming down the pipeline.  The main thing is not to get complacent and to keep pisspounding the phones for new prospects to goose our revenue even higher.  We've really had a spectacular year for life insurance business and BOE.  Don't forget about your clients insurance needs either.  They can give you a nice pop to your revs.