Luck is always a factor

And you can work those hours and never do a thing!!!

I believe it is how you view/approach it.

[quote=assetgatherer]Joe-I understand your point, but I have nothing to hide. I work my tail off just like you and most in our business. MS has been very good to me and I hope to repay the courtesy by treating my clients right and earning money for the firm and myself.[/quote]

You do have something to hide, dummy, if posting here is against your firms' policy.  OR if some muckety muck from MS reads something your write and just doesn't like it.

Hey I'm just trying to save you some potential grief.  Think about it...

Yeah dont post any information. No one needs to know anything about us.

I live in Cali drive a vet. Catch me if you can.

Scorpio brings up a good question about prospecting 7am - 9pm and then 1/2 a day saturday...would that be enough.....

There is an old saying - "Do what you love, and you will find success". In the beginning, this is a very difficult business to "love". One of the most successful brokers in my branch works like a dog. He is mid 30's, took over a book of let's say $300 million, makes shy of 1 mil on his w-2 plus a ton of stock every year. I wonder how much he loved the business in years 1-5. I'm not begrudging him - he's a good guy, and pursued the right situation. Let's face it... he has a lot of work to do. there is a lot of opportunity in his book, and a lot of relationships to manage.

I don't know of anyone who is productive and motivated  for 14 hours per day in the beginning. Again, the rewards are to few and far between to be incented. It's years in the business that make you. It is very difficult to gain passion, especially if you annuitize. If you bring in a $1 million dollar acct. and your lucky enough to get 1 point on the whole thing, that's $10,000 per year - $4,000 after payout - $2400 after taxes - $200 per month!! now go get 50 more of those, and you might make a living. BTW $1 million dollar accounts are not walking in the door every day. Not so long ago, a broker would make $5,000 or more on every $100,000 that came in. It is more likely that you will repeat a process, ie: cold calling - when you can tie a substantial paycheck to it.

The way the margins have been squeezed, we are LUCKY to get 100 bps for a million dollar account…

You are absolutely right…not to mention that the whole mil. is likely not going in to equities. Bonds and cash won’t pay you much. I have found that on an average million dollar account, you are doing well to get 60 bps.

Or you can just slap them in a variable annuity and catch that 4.5% upfront !!!. JUST KIDDING… Its my old AXA training coming back…

[quote=blarmston]Or you can just slap them in a variable annuity and catch that 4.5% upfront !!!!!. JUST KIDDING.... Its my old AXA training coming back...[/quote]

Only 4.5%?

[quote=blarmston]Or you can just slap them in a variable annuity and catch that 4.5% upfront !!!!!. JUST KIDDING.... Its my old AXA training coming back...[/quote]

Can you give me some ammo against AXA?  I am trying to get a client from them.  Thanks.

I am always up against an axa advisor, when talking to prospects retiring from our local utility. Some of the things I will mention....Mr. propsect, Axa has a very good product...the question is, is it right for your situation. Their annuity, also happens to be one of the only products that advisor can sell. It is the most profitable item for their branch, and I can tell you that the advisors at AXA are not only encouraged, but make more money when they sell the equitable accumulator annuity. If that annuity is the best fit for your situation, we happen to offer the AXA product at ML, along with 11 other insurance company's annuities. Also, if it's the 6 percent guarantee that has your interest, you will be paying a lot of money for a feature that you most likely will never need. And I'm quite sure this little benefit to you has not been explained appropriately, meaning you probably think it works a little different than it actual does.

The AXA annuity is actually a good product. I just don't believe that it's a good fit for everyone, and 100% of assets.

Ive had best luck when I offer the AXA vs Met life, client can choose.

(I think these annuities can be awesome investments 

There you go. When I was with AXA, we had other options for our annuity products, but NOBODY EVER sold anything but Accumulator and EquiVest accounts. It had the highest payout, our 401K match was tied to selling those products, the trails were much higher,etc. AND, you are all irght in that that product was the answer for everything, for all of the clients assets. I realized that about 1 year in, and spent my time moving new clients into brokergae and mutual fund wrap accounts- knowing that it would be easier to move when I left… It was a good epxerience with great training, but AXA is a glorified insurance company…

Good feedback, thanks.  I printed that for my war book

Bar none the best marketing systems I've ever seen are from Advisor Marketing Systems.  They do seminars, direct mail and newsletters.  If your serious about financial services marketing then you should take a look at their website at www.advisormarketingsystems.com.

Good luck.

[quote=notabroker]

Bar none the best marketing systems I've ever seen are from Advisor Marketing Systems.  They do seminars, direct mail and newsletters.  If your serious about financial services marketing then you should take a look at their website at www.advisormarketingsystems.com.

Good luck.

[/quote]

I dont know??? Their website looks a little hokey. Has anyone else bought their stuff?

[quote=notabroker]

Bar none the best marketing systems I've ever seen are from Advisor Marketing Systems.  They do seminars, direct mail and newsletters.  If your serious about financial services marketing then you should take a look at their website at www.advisormarketingsystems.com.

Good luck.

[/quote]

So how long have you been working for them?

I just use the door knocking script that EJ has given me on the phone.

I first introduce myself, and tell them I am opening up a business.

My goal to the whole thing is to find a ‘need’, where they do buisness and their favourite type of investment.

I only ask either/or question to obtain the information.

eg. do you have your retirement plans at the bank or an advisor. I dont care really to much who it is.
ask same type of questions for other two things.

then let them ask me anything. verify their info. Good time to get a work or cell number.

Let them on their way.

Call takes 2-3 minutes. Very non abbrasive. The purpose is so when I call the next time I know their need, and investment likes/dislikes.

The sales calls go real smooth after you make that call.

It has been working real well. Another way of doing it.

favourite type of investment

This always bugged me.  As if your favorite type of investment is like your favorite type of ice cream.  Obviously my favorite type of investment is one that makes money.   Most people, and especially the Jones prospects, have no IDEA what types of investment there are much less what is their "favorite". 

I felt plain retarded using their script.  But if it works for you..... 

I understand that…most people even with advisors dont know their favourite type of investment, so it gets that wedge in btw you and the advidsor they have.

Cause most of them go like…I dont know? and you jot that down, and then you can go for the appointment right there.