Do EDJ rookies only do door knocking in the beginning or does corporate also have you develop a list of 200 people you know and solicit them also for business and referrals?
They don't give a rat's ass who your prospects are as long as they are of quality grade and potentially poised to open accounts with you.
Jones will not ask you at any point in time to solicit any family members. You can make it a point to not have any family members as clients if you want. They will however ask you to knock on doors and accumulate 1000+ prospects by doing so.
They will however ask you to knock on doors and accumulate 1000+ prospects by doing so.
I was told by the Jones FA that I had my face to face interview with that Jones doesn't care if you actually doorknock or not. He said they just care about your numbers. He said most people with Jones admit that door knocking doesn't work nearly as well in larger cities as it does in small towns.
Yeah that sounds all well and good, but for the 10 weeks or so when you can't ask financial questions and you can only introduce yourself the only thing to do is knock on doors. Once you can sell then you can stop door knocking, call up your Great Aunt Marge who has 3 million in CD's, sell her some bonds and become a hero in your region.
OK, thanks. I know some brokerages require you to develop a friends/family list and attempt to sell them....basically the Multi-level marketing approach. I prefer to call on complete strangers and wait for my family and close friends see that I am sticking with the business before asking them to invest with me and disclosing their financial info. l will ask the close friends and family for referrals, just not for their business directly at this point.
I wish I had that wealthy Great Aunt Marge with 3 Mil in CD's.
I agree with you to an extent. If it's investments we're talking about, I have only worked with friends and family who have asked me to manage their money. I have been very proactive with friends and family regarding insurance planning. It's too important not to. If something tragic happens and I didn't do anything to help, I would never be able to live with myself.
I think you are going about it the right way. Friends and family will always be there and once you have established yourself they will approach you and it is much more comfortable. Find the hard business first and you will have no worries.
They typically want your friends and family - because as they hire you, they are also prospecting for new accounts. When 85% of rookies fail - they will still keep your friends and family.
Also - PraiseHim, you should compile at least 1,000 names on your warm list to work during your first month of production.
Jones will never ask you at any point to prospect your friends and family. It will never be mentioned.
Actually, I remember Jones trainers early on saying "don't rely on friends and family to open accounts. You are just fooling yourself by looking at that as production."
Jones has no real interest in focusing on friends/family. Now, if you have a very wealthy, connected inner-circle, that may lead to a network of prospects, but that would be the rare exception.
... I have been very proactive with friends and family regarding insurance planning. It's too important not to. ...
...because if you're not talking to them about life insurance and long term care insurance, you can bet their auto insurance guy is. At least you know you can give them good rates, proper products, and superior service. And hey, you get paid pretty nice for it too!