First Week Out.......Suggestions

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Apr 21, 2007 12:51 am

Disclaimer

If you have E. Jones bashing comments, please disregard

****************



I am a new fa and am trying to maximize my efficiency. Any advice on day planning? (I am one week out after eval/grad).



My strategy this far has been.........

Mon:   9-12 phone calls; 2-? face to face/appointments

Tue:   9-5 f2f; 6pm appointments

Wed:   9-12 Phone calls 2-? face to face appointments

Thurs: 9-5 f2f; 6pm- appointments

Fri:   9-5 appointments



My first week, I have brought in 7 accounts for 10k net.

Apr 21, 2007 12:57 am

Most impressive!



Bye bye, then.

Apr 21, 2007 12:57 am

So you are at 27,643.94 gross?  Good job. You must be at a kabbillion above standard.

Apr 21, 2007 1:18 am

I'm trying to learn, real advice is appreciated

Apr 21, 2007 1:28 am
stopwhining:

I'm trying to learn, real advice is appreciated



Do or do not... there is no try.

Apr 21, 2007 2:14 am

You are all real role models of the industry.........knocking the new guy for no reason. Thanks for nothing.........I'm sure your clients feel the same way.

Apr 21, 2007 5:16 am
stopwhining:

Disclaimer

If you have E. Jones bashing comments, please disregard

****************



I am a new fa and am trying to maximize my efficiency. Any advice on day planning? (I am one week out after eval/grad).



My strategy this far has been.........

Mon:   9-12 phone calls; 2-? face to face/appointments

Tue:   9-5 f2f; 6pm appointments

Wed:   9-12 Phone calls 2-? face to face appointments

Thurs: 9-5 f2f; 6pm- appointments

Fri:   9-5 appointments



My first week, I have brought in 7 accounts for 10k net.




Since I know nothing about the Jones payout grid, exactly how much in assets did you bring in? (in your first week)  Also, what did you put these 7 clients in that generated a $10k net, and what was the gross revenue?

Apr 21, 2007 8:25 am
Bamzor:

So you are at 27,643.94 gross?  Good job. You must be at a kabbillion above standard.



I think he means that his average account size is $1,425. Of course the whole thing is a lie. He hasn't brought in any accounts. He can't even decide what to do, each day, and when to do it.

Apr 21, 2007 9:49 am

What the hell is he even on this board for....he's taking one week and saying I opened 7 accts..blah blah blah....Come back in 5 years and tell us you've ave 7 new accts per week.  BTW,,,Jonesy for 4 years..best month ever was 23k Gross, 7 Net Net...Been with LPL 2.5 months...April will be my best month ever...26k gross...23k+ net...19.5net net....Can SPiff get me back to the lower payout..PLEASE!!!

Apr 21, 2007 10:30 am

Thank you for absolutely nothing. This forum is obviously nothing more than a bunch of whiners with nothing constructive to say. There are several of you who are on here constantly. I imagine your business resembles your attitude if you have so much free time to come on here and degrade people.

Apr 21, 2007 11:46 am
stopwhining:

Disclaimer
If you have E. Jones bashing comments, please disregard
****************

I am a new fa and am trying to maximize my efficiency. Any advice on day planning? (I am one week out after eval/grad).

My strategy this far has been.........
Mon:   9-12 phone calls; 2-? face to face/appointments
Tue:   9-5 f2f; 6pm appointments
Wed:   9-12 Phone calls 2-? face to face appointments
Thurs: 9-5 f2f; 6pm- appointments
Fri:   9-5 appointments

My first week, I have brought in 7 accounts for 10k net.



Ok... I'll be constructive.  I know that the focus of the early Jones year(s) is to get you be structured and maximize your time by segmenting your day like you have done above.   This is a good idea to build a discipline.  However, I found that the rigid schedule just didn't work for me.  


My mentor suggested that during my outbound calling time (pounding the phones to sell a bond or other investment), that my BOA just take messages from clients and prospects for me to return during another time block for returning calls.   I'm not going to push off people who are calling ME.  I would take those calls.   Did it screw up the neat time blocked day.  You bet it did.  So what? 


I have a lot of clients who want to stop in unscheduled.  Would I prefer that they make an appointment?  Of course.  Am I going to refuse to see them without an appointment because it didn't fit into the time block set for appointments.  No effing way.  I would, however, suggest to the client that it would be better if I could have them schedule so I can be prepared for them. 


You will find that many of your prospects time availability will not fit into your time blocked day.  .   My advice on day planning is to try to have some structure, but don't be surprised when it just gets all blown to hell.  You need to be flexible without becoming scattered.


Apr 21, 2007 2:45 pm

Why does your day start so late?


During the day, you should be doing nothing except seeing people or fighting to see them. 


New and improved rookie calendar:


Monday-Friday 8:00-6:00 see people or fight to see them.


Schedule as many appointments as possible.  If you're not in an appointment, call people or walk in on them.

Apr 21, 2007 4:51 pm
bspears:

Jonesy for 4 years..best month ever was 23k Gross, 7 Net Net...Been with LPL 2.5 months...April will be my best month ever...26k gross...23k+ net...19.5net net....Can SPiff get me back to the lower payout..PLEASE!!!


4 years and your best month was 23k gross?  if i've read the threads right you haven't been indy for that long, so what has changed so dramatically that you are now beating your "best ever"?   i'm not being a smart ass, i'm just curious.

Apr 21, 2007 4:53 pm
stopwhining:

Thank you for absolutely nothing. This forum is obviously nothing more than a bunch of whiners with nothing constructive to say. There are several of you who are on here constantly. I imagine your business resembles your attitude if you have so much free time to come on here and degrade people.




In others words, you can not answer my very simple and honest questions, which were:

"exactly how much in assets did you bring in? (in your first week) 
Also, what did you put these 7 clients in that generated a $10k net,
and what was the gross revenue?"

In fact, you sound just like the guy who came here a couple of weeks ago claiming he also was just starting out, and that he was averaging $23M in production per month, and that April was going to be $60M month...all of this with just $6MM in assets.

Just like you, he couldn't tell me how he generated that production either.

Apr 21, 2007 5:35 pm

eh, sounds like BS to me.  I started out rocking but it took me a full year before I hit my first $10 net.  I personnally witnessed one guy who rocked so hard that Senor Hill interupted the PDP class to chat with him about what he was doing and he sure as hail didn't hit $10 net his first week.

Apr 22, 2007 6:17 pm

I think we're talking 7 accounts totalling $10,000 in assets, not net production.  Stopwhining and please clarify...perhaps you'll get more constructive feedback...

Apr 22, 2007 8:55 pm

StopWhining, your just another pud knocker--BS is right, come back in 5 years and tell us your story--when your trails are that amount then everyone on this forum will listen to what you have to say--other wise there is the rookie section to play with.


One week, ha!


Apr 23, 2007 1:45 pm

Companman...Sorry it took so long to answer...Great question..I wish I knew the answer, but I don't.  April, I have brought in 1.5+million of new money.  This doesn't count the transfers from my old book, but does include consolidated money from those clients. (annuities, old IRA's etc.)  480k was new money on rollover, 66k Fixed annuity 1035 to Variable.  75k CD brought to me and invested in various income producing assets,  225k in mmkt acct at SmithBarney brought over and invested. Local assisted living facility brought in a check for 700k bequethed(sp) to them...income producing investments.  Great month..Not a career...I assume it's because I'm looked at differently because I own my own business.  Some on here will say..there's no difference blah, blah ...but there is, or it was just divine intervention  Example...I called a guy this AM...I've called on him for 2-3 years without much luck.  Today he tells me he has a 401k from his employer..and noticed he made 3-4% last year.  Set an appt to discuss...Now when I made calls in the past..I couldn't get anything from him...I call him today..tell him I own and operate my own firm now and would like to continue calling on him.  He then pukes his financial info over the phone...has a brother with a 401k also...please send me two business cards and I'll get one to him...GO FIGURE!  I can't explain it....and don't really care as long as it keeps going.

Apr 23, 2007 3:52 pm
Bamzor:

So you are at 27,643.94 gross?  Good job. You must be at a kabbillion above standard.


At that rate, Spiff will be kissing his feet in about 4 weeks

Apr 26, 2007 9:19 pm
bspears:

Companman...Sorry it took so long to answer...Great question..I wish I knew the answer, but I don't.  April, I have brought in 1.5+million of new money.  This doesn't count the transfers from my old book, but does include consolidated money from those clients. (annuities, old IRA's etc.)  480k was new money on rollover, 66k Fixed annuity 1035 to Variable.  75k CD brought to me and invested in various income producing assets,  225k in mmkt acct at SmithBarney brought over and invested. Local assisted living facility brought in a check for 700k bequethed(sp) to them...income producing investments.  Great month..Not a career...I assume it's because I'm looked at differently because I own my own business.  Some on here will say..there's no difference blah, blah ...but there is, or it was just divine intervention  Example...I called a guy this AM...I've called on him for 2-3 years without much luck.  Today he tells me he has a 401k from his employer..and noticed he made 3-4% last year.  Set an appt to discuss...Now when I made calls in the past..I couldn't get anything from him...I call him today..tell him I own and operate my own firm now and would like to continue calling on him.  He then pukes his financial info over the phone...has a brother with a 401k also...please send me two business cards and I'll get one to him...GO FIGURE!  I can't explain it....and don't really care as long as it keeps going.


The difference is YOUR attitude. You are content and clients pick up on that as simple as that is. Good luck to you.