Begging

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May 29, 2007 11:09 am

I have been doing an internship at MM for a couple of weeks. I have the opportunity to join them. The culture is appealing for the most part. One concern I had is that when I hear other "financial professionals" on the phone with clients or prospective clients, they seem to be almost begging. Maybe it is just a$$ kissing. Is this a pretty widespread thing? Do you really have to give up your pride and respect and semi-beg to get clients. I know some established indy advisors who have clients come right to them without even asking for them.

May 29, 2007 11:44 am

It don't think beggin helps, I think it actually hurts.  Since you feel that most others are doing this maybe you are confusing begging with asking for the order or maybe you are confusing building repoir with begging.


Buillding repoir is pretty important.  Asking for the order is required. When they have an objection to buying, you need to find out what it is and answer the objection; then ask for the order again. This is sales 101.

May 29, 2007 11:52 am
Billyclub:

It don't think beggin helps, I think it actually
hurts.  Since you feel that most others are doing this maybe you
are confusing begging with asking for the order or maybe you are
confusing building repoir with begging.





Advisors who try to replace rapport with repoir often have hard time of things.

May 29, 2007 12:02 pm

Hahaha. ya, rapport. I see that. The last thing I want to do is sound needy.

May 29, 2007 12:08 pm

You need to believe that you are independently wealthy and that you don't need the business.

May 29, 2007 12:09 pm

No I do not beg.


I do ask.  This is a sales job, you need to close the sale.


But, I move on when I have done my best.


May 29, 2007 2:19 pm

Begging implies desparity, which makes a prospect/suspect wonder why you don't have clients to meet with.

May 29, 2007 2:35 pm

Desparity?

Are you a proud graduate of the Yogi Berra School of English?

May 29, 2007 3:29 pm

Define what you perceive as begging.

May 29, 2007 7:02 pm

Begging is fine............. if you have no pride.  You will only be succesful/ happy when you believe what you are doing has value for the client and that they are better off having known you.

May 29, 2007 10:17 pm

Is this one or two advisors that you have heard "begging" or all of them? 


Is it possible you are hearing the brand new guys that don't know any better?


Just curious as this strikes me as a little strange also.

May 30, 2007 2:00 pm

A couple of the new guys, and one older guy. It really struck me as weird. Another guy told me to "fake it until you make it." I think that is good advice.

May 30, 2007 2:22 pm
Closer:

A couple of the new guys, and one older guy. It really struck me as weird. Another guy told me to "fake it until you make it." I think that is good advice.



YOu may want to change your name from "closer" to "faker."

May 30, 2007 7:25 pm

You still haven't given us the idea of what you consider to be begging.  Seriously, I would like to know.

May 30, 2007 7:42 pm

It's natural to feel like a beggar in this business sometimes.


Just one too many "Financial Advisors" offerring advice. People have a tendency to not value financial advice which has become available everywhere. Even for free on Charles Schwab.

May 30, 2007 9:45 pm
Closer:

A couple of the new guys, and one older guy. It really struck me as weird. Another guy told me to "fake it until you make it." I think that is good advice.


Sounds like he's attended one too many MLM recruiting sessions.

May 31, 2007 12:38 am

When I client is backing down from a meeting and a rep is throwing out every possible avenue, "well I can see you at 4, o no? well what about the next day, o ok then, well how about after your vacation. o right, then i can come see you at your work. at your house? well is there anytime in the next 3 months that you will be free?" Just launching a barrage on these people. Seems like bad form, but I guess if it works sometimes...

May 31, 2007 1:06 am

You're supposed to ask 3 times, if someone tells you "No" and you let it go the first time you'll never get anywhere, rarely do people fall over themselves to meet with you, you have to be persistent.  There is a fine line between giving up too easy and begging though.

May 31, 2007 6:15 am

Closer, there is a big difference between "begging" for an appointment and begging for business.   You are hearing people fighting to get an appointment. 


Keep in mind that you are calling people who are conditioned to say "no".  They also have no interest in meeting with you.  On the other hand, you know that if you meet with them, you have a decent chance of them becoming a client.


As a general rule, if it is a cold call, the harder you have to fight to get the appointment, the better.  If you call someone and they immediately say, "sure, come on over", this can be because they give appointments to everybody.

May 31, 2007 10:11 am

Thanks for your explanation.  I suppose it would depend on the tone of voice the rep is using when trying to pin the prospect down to committing to an appointment.


Sometimes you do have to keep narrowing the choices and sometimes you even have to force the prospect to state exactly why they are objecting.  As stated, if you just take no for an answer the first time, you will never be successful in this or ANY sales job.  Of course there is a fine line between being persistent and being an irritating pest.