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Jul 4, 2009 10:50 pm

Ok, here's the deal. I'm a Jones FA. I live in a fairly conservative town (word on the street is Obama is a socialist who is going to nationalize everything, including McDonalds). It's a new suburb-only got city sewer about 15 years ago, so not many retirees. Lots of money, though-million dollar homes along lakes, ect.

 
Here's my problem-I'm getting nowhere with anyone! I've been selling for about 5 weeks and have three households (my parents, a SBO, and a working investor family). My two main rejections have to do w/ the future socialism (for the person not investing outside of a bank) and fear of leaving their current advisor (for those currently invested).
 
My mentors/field trainers/other jones FAs have said respond to people by taking their arguments to their absurd conclusion. So I tried this, and basically the door was shut in my face.
 
So, do I keep on taking it to the logical conclusion or is their a better way to handle these objections.
 
ps-let's keep the sarcasm to a minimum
Jul 5, 2009 12:26 am

The problem is not socialism, the problem is these prospects do not trust investing.  Socialism is the excuse of the day.  As far as people being afraid to leave their current advisor, you need to give them a compelling reason  to do so by showing them how you are different.

Jul 5, 2009 3:02 am

Why are you trying to sell on the doorstep?

 
Why aren't you doing what they tell you - which is to just make contacts and ask them for permission to contact them if something good came up?
 
You can't win over $1million accounts on the doorstep.  But you CAN do a little at a time.
 
Ask questions that get people to THINK - not offend them.
 
Ask questions like "If I could show you a way to...., would you have any objection to me stopping by to show you more of the kind of work that I do?"
Jul 5, 2009 10:00 am

People WILL buy what they WANT to buy. Start selling it to them. 

Jul 5, 2009 10:17 am

Alice is a broken record with this piece of advice. 


Listen to him!
Jul 5, 2009 10:35 am

.

Jul 5, 2009 10:51 am

How much you guys make on CD's?

Jul 5, 2009 11:13 am

.

Jul 5, 2009 11:30 am

True. 

Jul 5, 2009 11:54 am
wind3574:
Sam Houston:

The problem is not socialism, the problem is these prospects do not trust investing.  Socialism is the excuse of the day.  As far as people being afraid to leave their current advisor, you need to give them a compelling reason  to do so by showing them how you are different.





This is great advice Sam. I have a client who is DOOM AND GLOOM as well. Everything going to hell according to him and his wife. I couldn't get anywhere with them in the beginning but I had a local FA tell me to say, "Mr. Prospect, you know since everything is really bad right now I hope you have 3 things: A Horse, cow for milk, as well as a few guns to protect yourself from outlaws." This sounds really stupid and I felt weird about it but I actually did it.



The prospect said, "Thats absurd why would I do that?" Thats when I said, "How else are you going to survive once the U.S. collapses?"....Prospect: "It's not". BINGO...



Anyway, that worked for me. Once he realized how retarded he sounded, He rolled over a $500,000 account. It's just CD's right now, but slowly he's been interested in other things and going to seminars, which goes back to the post from Ominous about "little at a time". Maybe that will help, maybe it wont, but it worked once for me.



So this guy will buy CDs from you but nothing else?  Does that happen alot? 

Jul 5, 2009 11:59 am

.

Jul 5, 2009 12:06 pm
wind3574:

No and if anyone on here says they don't have a client who is saying they only want FDIC insured CDS....your a lying sack. This thread isn't about me Bull....I answered a question...End of conversation



LOL are you hungover this morning and grumpy?  The reason I ask is that my company is going to start letting us sell CDs probably within the next 12 months and I was wondering how you go about marketing that.

Jul 5, 2009 12:16 pm

Sounds like you are jumping to negative conclusions about your prospects. If you don't like them, they will pick up on that.

Jul 5, 2009 1:07 pm

.

Jul 5, 2009 2:01 pm
wind3574:

No and if anyone on here says they don't have a client who is saying they only want FDIC insured CDS....your a lying sack. This thread isn't about me Bull....I answered a question...End of conversation





I'm not lying and I don't have any clients who want to buy only FDIC insured CD's.

Jul 5, 2009 2:24 pm
wind3574:
Sam Houston:

The problem is not socialism, the problem is these prospects do not trust investing.  Socialism is the excuse of the day.  As far as people being afraid to leave their current advisor, you need to give them a compelling reason  to do so by showing them how you are different.





This is great advice Sam. I have a client who is DOOM AND GLOOM as well. Everything going to hell according to him and his wife. I couldn't get anywhere with them in the beginning but I had a local FA tell me to say, "Mr. Prospect, you know since everything is really bad right now I hope you have 3 things: A Horse, cow for milk, as well as a few guns to protect yourself from outlaws." This sounds really stupid and I felt weird about it but I actually did it.



The prospect said, "Thats absurd why would I do that?" Thats when I said, "How else are you going to survive once the U.S. collapses?"....Prospect: "It's not". BINGO...



Anyway, that worked for me. Once he realized how retarded he sounded, He rolled over a $500,000 account. It's just CD's right now, but slowly he's been interested in other things and going to seminars, which goes back to the post from Ominous about "little at a time". Maybe that will help, maybe it wont, but it worked once for me.




You're a liar.

Jul 5, 2009 2:57 pm

.

Jul 5, 2009 3:15 pm
wind3574:
BerkshireBull:
wind3574:

No and if anyone on here says they don't have a client who is saying they only want FDIC insured CDS....your a lying sack. This thread isn't about me Bull....I answered a question...End of conversation

LOL are you hungover this morning and grumpy?  The reason I ask is that my company is going to start letting us sell CDs probably within the next 12 months and I was wondering how you go about marketing that.





My apologies, I assumed it was going to be like EVERY other thread, where you say i suck because 1 client wants nothing but CD's.



No problem.  How do you Jones guys market CDs?  Are they a door-opener (I would guess) or are they ancillary business you do as a service once you have their investments?

Jul 5, 2009 3:28 pm
wind3574:
Sam Houston:

The problem is not socialism, the problem is these prospects do not trust investing.  Socialism is the excuse of the day.  As far as people being afraid to leave their current advisor, you need to give them a compelling reason  to do so by showing them how you are different.





This is great advice Sam. I have a client who is DOOM AND GLOOM as well. Everything going to hell according to him and his wife. I couldn't get anywhere with them in the beginning but I had a local FA tell me to say, "Mr. Prospect, you know since everything is really bad right now I hope you have 3 things: A Horse, cow for milk, as well as a few guns to protect yourself from outlaws." This sounds really stupid and I felt weird about it but I actually did it.



The prospect said, "Thats absurd why would I do that?" Thats when I said, "How else are you going to survive once the U.S. collapses?"....Prospect: "It's not". BINGO...



Anyway, that worked for me. Once he realized how retarded he sounded, He rolled over a $500,000 account. It's just CD's right now, but slowly he's been interested in other things and going to seminars, which goes back to the post from Ominous about "little at a time". Maybe that will help, maybe it wont, but it worked once for me.



Liar .. That is the gayest thing I've ever heard.  You are not qualified to give advice on tying shoes.

Jul 5, 2009 3:38 pm
wind3574:

No and if anyone on here says they don't have a client who is saying they only want FDIC insured CDS....your a lying sack. This thread isn't about me Bull....I answered a question...End of conversation


 
I guess that I'm a lying sack.  I don't have any clients who only want FDIC CDs.   If they did, they wouldn't be my clients.   It is safety of principal that these people want.  It's easy to show them that they don't need CD's to accomplish this.  
 
Your inabilty to use the English language makes you appear to be under educated or just stupid.   You are going to respond defensively that you don't care about others on an internet forum.  1) If you didn't care, you wouldn't respond.  2) For someone who can use proper written English, it is easier to use it than not use it.  Why don't you just admit that this is a weakness of yours instead of protesting with some B.S.?