Just started at MassMutual by way of Spectrum

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Dec 22, 2008 11:28 pm
Dec 23, 2008 5:25 am

Group 1 license? Just curious what you mean.

Dec 23, 2008 11:21 am
anoobis:

Hello guys,

I figured I should join this site considering I am relatively new to the financial services industry.  I was laid off from my job with a brokerage outfit in a customer service position about 3 months ago.  I have decided to take the plunge and enter the sales world and start selling insurance for MassMutual by way of Spectrum Financial Group in Dallas, TX.  I am relatively new to the area, but luckily went to Texas Tech University and have alot of friends in my natural market.  I graduated this year and have many friends that have well to do parents in Dallas.  (Most of my friends are fresh out of college and are 25 or younger)  My basic question is, what would be the best way for me to reach out to these potential prospects?  Also, I have about 180 names in my market inventory, most of which are college friends and some family.  I am aware that I need to go through each of these names and ask for referrals in the Dallas Ft. Worth area.  What would be the best way to approach these friends and ask for referrals in the Dallas Ft. Worth.  My goal is to have about 1000 leads by the end of the year.  Also, what has been all of your general experiences in marketing as you start your financial career?

Sorry for the long diatribe, but I am looking for some sound advice, beyond what I have already heard at the office lol.  Please keep in mind that I eventually want to move to providing mostly fee based financial planning with some insurance sales.  I have my series 7 and Group 1 licenses.  I will be taking my s66 soon.  I also plan to take the CFP and CLU in the next 2 years since I have already done the module requirements by way of the Personal Financial Planning program at Texas Tech University.


Thanks for your help in advance!


 
#1 - You're an idiot for posting your firm location and agency name plus the school you went to.  Being affiliated with a FINRA firm (regardless of licenses you have) subject you to compliance with them... and they don't like "unsupervised" written correspondence that hasn't been pre-approved.
 
#2 - Mass does not allow ANY rep to use the CFP designation due to the CFP BOG recent code of ethics changes that are discriminatory to those who sell financial products for commissions.  But you can apply those same CFP classes to get the ChFC and take a couple more classes.
 
#3 - Find a mentor and introduce your friends and their parents to you and your mentor.  Split the cases 50/50.  If you want to TRULY be different than every other advisor your friend's parents have ever seen... hook up with a LEAP licensee who has been doing LEAP for over 1 year, preferably more.
 
While Mass will allow you to do fee-based planning, don't forget that this is an INSURANCE firm and they expect you to sell ... (wait for it)... INSURANCE!  I would learn how to sell insurance and then collect assets later from your existing clientele.
 
You can delegate investment management.  You can't delegate insurance.
 
Learn to be a financial STRATEGIST instead of "just a planner" or "just an investment advisor" and you'll have some REAL value to give to your prospects!