Helping the Ultra Rookie

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May 15, 2008 4:31 pm

Hey everyone! I've spent many hours reading the posts around this forum and seriously appreciate all of the information it provides. I recently graduated Cum Laude with a B.A. in finance from a college here on the west coast. I really want to be successful as a rep, but my problem is that I have no sales experience. I've spoken to a few advisors who have told me to get an outside sales job with good training that will put me in a position to talk to the key decision makers at small to med sized businesses. I was wondering if any of the veterans on this site could discuss the companies that they started out with that had excellent training for a newbie to sales. I've interviewed with ADP but due to having absolutely no sales experience, didn't get the job. Thanks for any advice!

May 15, 2008 4:38 pm

Trouble with the good sales training programs these days, if you don't like the firm but want to take your business with you, they zing you for training fees and will likely sue you if you are succesful.  I would consider going to an independent shop that is willing to take you under their wing.  Be an employee, then develop book of business, but always maintain a way to keep your own book and go freely without any hassles.  If you just graduated, you may not have much business experience (making assumption, dont take offense).  Trying to go somewhere that will allow you to run your own business may not be the best plan.  I think you should watch how someone runs a real live working business in this industry before you jump on board for a full blown training program and 3 year contract, which is what most wire houses look for these days.

May 15, 2008 4:56 pm

 Not sure what type of business you really want to build but I found in the beginning for me it really helped to pick a product with longevity and consistency and learn it like the back of your hand.

 I just happened to pick the American Funds family since my parents had owned them for years, but it really helped my confidence on the phone by knowing the product, holdings, fees, classes etc inside and out so I could answser almost any potential question fired my way without having to stumble and look it up.

May 15, 2008 5:51 pm
$FinanceRookie$:

Hey everyone! I've spent many hours reading the posts around this forum and seriously appreciate all of the information it provides. I recently graduated Cum Laude with a B.A. in finance from a college here on the west coast. I really want to be successful as a rep, but my problem is that I have no sales experience. I've spoken to a few advisors who have told me to get an outside sales job with good training that will put me in a position to talk to the key decision makers at small to med sized businesses. I was wondering if any of the veterans on this site could discuss the companies that they started out with that had excellent training for a newbie to sales. I've interviewed with ADP but due to having absolutely no sales experience, didn't get the job. Thanks for any advice!

 
Don't listen to these other posters.  They are newbie posters and don't have the reading comprehension to respond to your post.
 
First of all, FINALLY someone listened to an experienced advisor who told them to go the route of a sales job out of college.  That is very smart on your part.  Too many kids think they can go from college to an advisor and make it, when very few can actually do that.
 
I don't know too much about what sales jobs would be good for you.  I do know that a lot of college grads go to companies like Enterprise Rent-a-Car for experience.  You don't need to have a long tenure with this kind of company, just enough to get hired by someone bigger and better.  There is more sales opportunities at Enterprise than you think.  You sell the insurance, but also sell the company to small, mid, and large-sized business' corporate accounts.
 
Anyone else know of any good sales jobs outside the financial services industry?
May 15, 2008 5:59 pm

Although I show up as a newbie poster I am far from being new to the industry.

 I never had a sales job before entering the industry and had to find my own niche to survive in the first 2 years. I only posted on what worked for me and the rookie can take it for what its worth.

May 15, 2008 6:46 pm

Pharmaceutical sales is a great one as well.  Not sure how much is out there right now with the cuts that some of the companies have made, but definitely great experience.  It will also set you up with a very nice network to take with you when you become an advisor.

May 19, 2008 11:04 pm

I know many very successful advisors that went to EDJ right out of college with no prior sales experience.  Hard work will make you a successful FA....not prior "experience".  It will help but not make or break you.