Rookie (Me)

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Apr 8, 2008 8:54 pm

I am new (3rd week). Im working at MWA (Modern Woodmen of America). We do alot of insurance, annuities, 401k's IRA's, mutual funds, etc.  I read over the Rookies 500 days of Hell, but with regards to what I do, I cant open accounts over the phone. I use the phone to schedule sit down appointments and go over a prospects "Financial /Retirement" Plan then proceed.
What does the Judge suggest.
Anyone have pointers. (I know the road is long and arduous)

Apr 8, 2008 11:05 pm

Meet as many people as you can.  Meet them where they work, where they live, or where the play.  Let them know that you're passionate about what you do and how you can help them.

 
I wished I had gained confidence earlier.  It would have made a difference.  Learn from as many different veterans as you are able to so that you can find a style that works.  But most importantly, keep talking to people.  If you do that you will succeed.
 
Good luck.
Apr 9, 2008 7:56 am

... and maintain your anonymity on internet forums, if you want to avoid unnecessary compliance and legal headaches!

Apr 9, 2008 12:24 pm

+1 on Morphius' advice.


use the 500 day war to get apppointments. Go to www.billgood.com and download some of his free content. Among the content are scripts for getting appointments. Modify the scripts to your liking or use them as a template to write your own. Always use the script when making you calls. Know the script cold, practice it so it doesn't sound like you're reading it. Keep it in front of you at all times. WHEN someone knocks you off your script or you lose your train of thought, look down and read. Make lots of calls, then make some more calls. Then after that pick up the phone and make some more calls. Stop calling at 9pm, go home at 10pm, come back at 7am and do it again. It's that easy. Then buy something from Bill Good to thank him for your career.

Apr 9, 2008 9:15 pm

Obviously I've never heard you, but since you've only been on the phone 3 weeks I would suggest you make sure you sound good.  I'm sure your manager has mentioned this, but speak slowly, clearly, and act confidently. 


Think of an actor whose words capture your attention, and see what you can take from it.  Your words need to impact prospects as much as possible.  Be somebody that they want to listen to.
 
During my first few months on the phone, my voice and throat literally toughened up.  No idea how old you are, but I'm 22 so I had do my best to not sound like some kid or fresh college grad
Apr 9, 2008 9:46 pm

Make sure you show 10 people a week what you do, face to face.

Good things will follow.
 
Most wont do anything, 2 or 3 will.
Apr 11, 2008 6:02 pm

Indy....why only 10 a week?  If your new you should be meeting 50-100 people a week face to face.

Apr 11, 2008 8:01 pm

Eyetattoo, how you propose that he sets 100-150 appointments in a week so that he can keep 50-100? 


The most that I've ever seen anyone keep on a consistent basis is 25.

Apr 11, 2008 8:09 pm

Oh he didn't say appointments.....he just said show 10 people a week what you do face to face.......If he meant actual appointments I retract my previous post.

Apr 12, 2008 1:36 am
anonymous:

Eyetattoo, how you propose that he sets 100-150 appointments in a week so that he can keep 50-100? 


The most that I've ever seen anyone keep on a consistent basis is 25.

 
25 still seems like a lot of appts to keep
Apr 12, 2008 6:21 am

 25 is a ton which is why it is the most that I've ever seen someone keep consistently.

Apr 12, 2008 8:46 am

Depends on how you run the appointments, what kind of prep work you have to do prior, and service work after. I've found that if I venture over 15 appt's I start getting sloppy because I run a more planning oriented practice. Another rep in my district runs at a minimum of 18 appt's per week. He's more of an asset allocator than a life planner. He makes a lot more money than I do right now... but that will change!



The important thing about running appointments - is that YOU run them. It's your agenda or framework(often cleared w/ the client prior to the appt so there are no surprises), and you have a consistent process that covers everything you need to cover. You also have to have the confidence to delay tangents.

Apr 12, 2008 10:27 am

EyeT-Consistency is important. 

 
Show ten people a week what you do face to face is different than a door knock.  Meeting them in the door or by phone is not showing them what you do.  It is merely an attempt to gain enough interest to sit down for 30-60 minutes and deomnstrate what how you do what you do. 
 
It's not saying "I have a AA rated tax free bond payin 5%, how do you fell about the rates you're getting?"
 
So, Modern Woodmen Guy, sit down with 10 people a week.  3 of the 10 will want to do something.  2 of those will want to do it now, and the other one later.
 
EyeT,  What level of production do you have now?  What is your approach?  What do you normally recommend to people?
 
 
Apr 12, 2008 12:45 pm

I'm going to slightly disagree with GoneIndy02...maybe.    I think that someone needs to see 10 NEW people a week, but keep 15-20 appointments.  I'd be willing to bet that someone who sees 15 appointments a week makes twice as much as someone who sees 10.   Regardless, the point is that the more people whom we try to make our clients, the more successful that we will become.

Apr 12, 2008 12:58 pm
GoneIndy02:

EyeT-Consistency is important. 

 
Show ten people a week what you do face to face is different than a door knock.  Meeting them in the door or by phone is not showing them what you do.  It is merely an attempt to gain enough interest to sit down for 30-60 minutes and deomnstrate what how you do what you do. 
 
It's not saying "I have a AA rated tax free bond payin 5%, how do you fell about the rates you're getting?"
 
So, Modern Woodmen Guy, sit down with 10 people a week.  3 of the 10 will want to do something.  2 of those will want to do it now, and the other one later.
 
EyeT,  What level of production do you have now?  What is your approach?  What do you normally recommend to people?
 
 

Right now my production is not existent with Jones......prior to Jones I was in a bank program splitting time between PB work and financial services......my rolling average was roughly $20K gross a month.  My approach is a full service approach.  I don't like to just throw something at a client to see if it sticks.  I run my appointments by giving a version of a own vs loan to profile their existing holdings.  And based on what is currently out there I make my recommendations.  I like mutual funds and munis if I had to choose......because typically im dealing with clients with $1MM or less invested, Im hoping that will change now that I will be able to focus all my efforts to financial planning.

Apr 12, 2008 1:04 pm

EyeT - Why not go FA w/n the bank? Are you able to prospect your previous contacts?

Apr 12, 2008 1:44 pm

That was honestly the original plan......until I found out my girl and I were having a baby.  We decided to move back to our home town away from the city to raise our son.  The bank tried to find me a position near my home town but nothing panned out, there was already a FA in the area.  Thats when I started looking around the other banks Wachovia, BofA and some of the other smaller banks in my area but again in a small town there isnt much opportunity unless someone retires.  I knew some people that have been with Jones for many years and started talking to them.  I ended up getting a call from the RL in my area asking why I haven't applied.....well long story short they offered me a position that I will be able to have an office in my home town.  And to top it off....the competition around here (non Jones) is a joke so its been like shooting fish in a barrel for the existing Jones guys. 

Sorry for the wordy post but you get what you ask for

Apr 12, 2008 3:18 pm

Good for you, EyeT. Lots of former bank folks do great at Jones.

Apr 12, 2008 7:20 pm

......because typically im dealing with clients with $1MM or less invested, Im hoping that will change now that I will be able to focus all my efforts to financial planning.



_____________________________________________________________________
 
financial planning at jones??
Apr 12, 2008 10:05 pm

Sure - financial planning is possible anywhere. Financial planning is 80% positioning & 20% a written plan. Often times(maybe 50%+) one doesn't do a formal written plan even if you're doing retirement planning for someone. A lot of people benefit from a smart use of excel & keeping in regular touch. So, financial planning @ EDJ - sure... just gotta have the skills to pull it off.