October Statements!

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Oct 27, 2008 11:19 pm

So, the best statement cycle ever draws to a close, and how about we come up with some great statement stuffer ideas for our respective marketing departments to implement.  I propose a photo of both major party candidates for President with the caption, "We promised change...so here you go; three quarters, a dime and a coupon for a free Financial Analysis...Rock the Vote!"

Oct 28, 2008 6:23 am

Brutal.

 
Keep laughing so you don't cry.
Oct 28, 2008 7:33 am

Another topic would be "November Production". I checked my book and have racked up 5 million in CDs lately, a lot of that coming from clients who "can't take it any more". Other than whatever trails and random trades come though, should be an interesting income month.

Oct 30, 2008 5:34 pm

Oy.... you think clients were not happy with the September statement.... wait until they get October's.... Round two of pounding the phones to warn them to just not open the statement....

Oct 30, 2008 6:04 pm
Ferris Bueller:

or mail them a bottle of wine with a note, "open this before you open your statement"

I very good idea....
Oct 30, 2008 8:32 pm

Wine? I think a bottle of everclear would work better.

Oct 30, 2008 9:38 pm

Not sure of anyone else, but most of my clients will have better OCT statements than SEPT and that was with me not really doing any repositioning and no major income coming into the accounts this month. Most of the bonds and PFD's have come back up...

Oct 30, 2008 10:43 pm

If you send this to your clients, it might help ease the pain:

 
http://www.youtube.com/watch?v=IyZ1-7RCFuY
Oct 31, 2008 12:30 am
snaggletooth:

If you send this to your clients, it might help ease the pain:

 
http://www.youtube.com/watch?v=IyZ1-7RCFuY
 
 
WTF is that?????   Some funny shiznit!!!  Not what I was expecting.
Oct 31, 2008 6:49 pm

Market went down 17% give or take in October, I can honestly say that most of my clients are, on paper, poorer than they were in Sept. Too bad they don't get a statement on their home showing how much it tanked as well.

Oct 31, 2008 7:04 pm

Amen to that.  Here in Florida, I've started to begin every review with a question mark on my white board and a horizontal line drawn next to it.  I ask the clients, "What do you think your house was worth at the peak back in '05 ish?"  I write that down on the white board, and then begin the review.  As we're wrapping up, I'll ask them what it's worth now, do the math, and everyone tends to "get it."  Realizing that we're not in this business to provide "relative performance," points like that do make the perspective a lot easier for everyone to grasp.  I've learned ('00, '01, '02) that relative performance might keep you in business for 6 mos. to a year, but after that, you'd better come up with a plan to fix it.

 
 
Nov 2, 2008 12:44 am
2wheeledbeemer:

Amen to that.  Here in Florida, I've started to begin every review with a question mark on my white board and a horizontal line drawn next to it.  I ask the clients, "What do you think your house was worth at the peak back in '05 ish?"  I write that down on the white board, and then begin the review.  As we're wrapping up, I'll ask them what it's worth now, do the math, and everyone tends to "get it."  Realizing that we're not in this business to provide "relative performance," points like that do make the perspective a lot easier for everyone to grasp.  I've learned ('00, '01, '02) that relative performance might keep you in business for 6 mos. to a year, but after that, you'd better come up with a plan to fix it.

 
 
 
Good idea. 
Nov 10, 2008 10:03 am

Well, the unsophisticated, average investor sell-off is now officially in motion within my client base.  Had several calls already this am as a result of Oct. statements, and they're all saying, "If this keeps up I'll be at zero in ___ months..."  These are people that I've already been talking with, yet the reaction is still there.  And they've got bond funds, some utility issues, etc.  Maybe this will be the last part of the bottoming process??   Anybody else having that same conversation over and over and over and over and ov????

Nov 10, 2008 5:53 pm

Yes....same conversation.....with otherwise rational people. 

Nov 10, 2008 6:18 pm

They were calling in full force today. Mostly the clients who don't use online access. One client sold a bunch of CAIBX at around $40 per share...it was around $66 a year ago.

 
Those clients are good at the math that starts with "I did the math and in X months I'll be broke".
 
By the way, does anyone have a clue about this thing the Dems are trying to push through that would sieze 401k and IRA assets? I am just regurgitating what my clients hit me with.
Nov 10, 2008 6:32 pm

http://finance.yahoo.com/p?k=pf3


I don't know if this link wil work, BUT I went to an American Funds meeting a month ago and the manager said the bond market would lead us out of this mess. This could be a good sign!
Nov 10, 2008 7:11 pm

I tell all of my clients that if they open their October statements I am going to send an Appraiser over to tell them how much their home is worth!!

Nov 10, 2008 7:18 pm

That is a good line.  I hope you don't mind if I use it a couple hundred times in the next week.

 
I know what they'll be thinking: "at least I can live in my effing house".
 
Wouldn't an up month just be a beautiful thing? Life goes on and I still need to find new clients.
Nov 10, 2008 8:25 pm
Gordon Gekko:

They were calling in full force today. Mostly the clients who don't use online access. One client sold a bunch of CAIBX at around $40 per share...it was around $66 a year ago.

 
Those clients are good at the math that starts with "I did the math and in X months I'll be broke".
 
By the way, does anyone have a clue about this thing the Dems are trying to push through that would sieze 401k and IRA assets? I am just regurgitating what my clients hit me with.
 
GG, I went on a rant about the 401k/IRA 'federalization' on one of my earlier posts. In fact, that was the topic that took me from a career lurker since way back, to this digital crack pipe that this site is!  I had read a book 15-16 years ago that predicted that, along with bank failures (hmmm), and a redesign/reissue of our larger denom. currency (hmmm), as some of the unwinding of our debt-fueled cultural spiral.  You know, real sunshine and roses.