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Jul 12, 2009 8:56 pm

I have a substantial chargeback hitting me this month on top of a Div Trip tax bite.  It will turn an otherwise "average" month into a real loser.  Any thoughts on what product is best to generate immediate activity? Am I better off pounding the phone or going face to face?

Jul 12, 2009 9:09 pm

yes

Jul 13, 2009 8:22 am

Don't worry about your month to month commissions or you will start doing things that are only in your best interest.  Focus on the amount of contacts you make and the clients needs and it should all work out in the long run.  You are striving for annual or quarterly production numbers and not the month to month or daily.  The month to month and daily that you focus on are the things you can control such as the number of quality contacts you make each and everyday.  This will lead to more appts and thus more revenue.

Jul 13, 2009 8:41 am
CashFlow:

Don't worry about your month to month commissions or you will start doing things that are only in your best interest.  Focus on the amount of contacts you make and the clients needs and it should all work out in the long run.  You are striving for annual or quarterly production numbers and not the month to month or daily.  The month to month and daily that you focus on are the things you can control such as the number of quality contacts you make each and everyday.  This will lead to more appts and thus more revenue.

 
You've obviously never worked for Jones.
Jul 13, 2009 9:55 am

CashFlow's theory is correct, but just not with the correct Jones terminology.  Jones tracks a four month rolling average, not an annual production goal.  Which, I don't think is really the point of TheBigE's post. 

 
There are lots of things that will generate immediate activity, funds, stocks, bonds, annuities funded with cash, etc.  Pretty much anything except life insurance, LTC, or 1035 exchanges on an annuity.  Your going to have a month that sucks once in a while.  It's inevitable.  Sometimes you just have to say the heck with this one, let's start working on the next one.  But, if you want to generate activity, you have to be active.  So, Gordon was actually correct.  You're going to need to do both.   
Jul 13, 2009 12:04 pm
CashFlow:

Don't worry about your month to month commissions or you will start doing things that are only in your best interest.  Focus on the amount of contacts you make and the clients needs and it should all work out in the long run.  You are striving for annual or quarterly production numbers and not the month to month or daily.  The month to month and daily that you focus on are the things you can control such as the number of quality contacts you make each and everyday.  This will lead to more appts and thus more revenue.

 
I would have to agree. Go ahead do what you can to salvage the month, but don't get into any gray area of trying to force big tickets to offset a bad month. Get an early start on next month. Generate a lot of activity and appointments and offset this month's production with next months.
Jul 13, 2009 2:28 pm

BorkerBoy, Jones is but a distant memory for me.  Left that place over 15 years ago.  Took a long time to flush the kool aid out that is for sure.  Ah the days of selling 30 year bonds to get 3 or 3.5 pts plus A share mutual funds to make a month.  If you can't make your numbers selling those products I am not sure you ever will.  Enough said on that. 

 
Don't worry about other peoples goals for you such as a four month rolling average.  Do your daily activities while focusing not on selling stuff, but rather advising clients for their long term health.  I know this is easier said than done when your firm is looking over your shoulder.  Keep up your activitis so that you can be in control of your future building a business you can be proud of. 
Jul 13, 2009 8:22 pm

Somehow I knew you guy's were going to say that.  Guess I was looking for a magic bullet...of which I've come to realize there is none.  That is to say, unless you consider busting your butt each day a magic bullet.  Point taken...back to work. 

Jul 13, 2009 8:52 pm
TheBigE:

Somehow I knew you guy's were going to say that.  Guess I was looking for a magic bullet...of which I've come to realize there is none.  That is to say, unless you consider busting your butt each day a magic bullet.  Point taken...back to work. 



Go slam an annuity.  It always helps my numbers...

Jul 14, 2009 1:01 am

I agree with Berk. Find an annuity you like and offers a great rate and dial, dial, dial...

Jul 14, 2009 7:39 am

N.D. and Berkshire...are suggesting a fixed or VA?  I can't see where fixed rate annuities would get anyone excited right now.  VA's are certainly a nice payout but seem to have longer closing cycle due to the moving parts.  

Jul 14, 2009 7:56 am

Call your annuity wholesalers and ask what is the best rate they have right now pick the highest and call about it. When you find a bite then decide which one really fits that particular prosect's needs the best.

Jul 14, 2009 12:03 pm

They get paid on a fixed annuity differently than we do. 

 
Just keep making calls until 3:00 PM on that last Tuesday and if your month sucks, go hit some golf balls, ride your motorcycle, run a few miles, whatever you to to relax.  Then start again on Wed morning with a $0 on the screen but with the knowledge that your last month is done and over and there's nothing you could have done differently.   
Jul 15, 2009 9:36 pm

Spiff, I'm taking your advice.  Just pounding out some calls and finding the need.  I'm having a little luck with recently called 5.5% FHLMC bonds.  Only way to get 5.5% monthly pay now is in bond mutual funds...assuming they can handle possible income fluctuations.  By the way, I actually do all three of the aforementioned activities to relax...good suggestions.