Cold Calling...Product vs. Appointment

Cold Calling????  You are killing yourself for no reason.  I strongly suggest you embrace technolgy and leverage social media to drive new business from existing relationships.  It's like being able to take several hundred people on the golf course at the same time.

Define excellent success?

FreedomFighter:

Why am I cold calling?  Because you and most other people aren't!  I work at the largest guy on the block and social media for the most part is non-existent.  That doesn't mean I don't use my own personal social media strategy, but i have received absolutely zero business from that so far.  Not saying it doesn't work, it just hasn't worked for me yet.

Navet:

I am finishing up month 3 of production at the end of this week and will have closed $2.5 million under management and it is all fee based.  Now I did start cold calling prior to going into production (during the training program) with the hopes of just building a decent prospect base so I sorta had a head start.  I was scared to death when I first started calling and I tried a bunch of different scripts until I found something I was comfortable with, but I just kept making the dials hoping some fruit would fall from the tree.  My branch manager and sales and service manager track avg. time per call, number of connects, and you have to report contacts (live conversation with a decision maker) and appointments.  You pretty much have nowhere to hide since the data is there for them to see if you are doing the activity necessary for success, but sadly some of the guys still aren't making the numbers in the hopes that their "huge" networks are going to provide them limitless assets. 

That is great.

Mind sharing how many calls you are making and what are you saying to the prospect to get the appt? 

[quote=TenToesDown]

Cold calling like a maniac and having excellent success, but always looking for another bullet to add to my gun and have never tried pitching a product.  Thinking about going the muni bond route in terms of pitching a product during my cold calls and wanted to get the general consensus from those who have done both.  Thanks in advance.

[/quote]

You've raised $2.5mm in your first three months and you want to switch things up?  Either you're lying or you're pretty stupid.  If your approach is working, why mess with it?

[quote=deekay]

[quote=TenToesDown]

Cold calling like a maniac and having excellent success, but always looking for another bullet to add to my gun and have never tried pitching a product.  Thinking about going the muni bond route in terms of pitching a product during my cold calls and wanted to get the general consensus from those who have done both.  Thanks in advance.

[/quote]

You've raised $2.5mm in your first three months and you want to switch things up?  Either you're lying or you're pretty stupid.  If your approach is working, why mess with it?

[/quote]

As far as i am concerned, you are pretty meaningless in the entire grand scheme of things so why would I have a reason to lie to you...or anyone else for that matter?  Also, I have found ONE method that works for me.  Can you give me a good reason why I wouldn't look for other ways to improve my calling efforts and look for ways that are even more effective or better at targeting another demographic?  I am not one to rest on my laurels, so if there is a better way to do something (i.e. product vs. appointment), I am all for it.  It is just that simple.

Given the tone of your posts, I respectfully withdraw my request for people's opinions regarding product versus appointment.  I wanted people's honest opinion...not to ruffle anyone's feathers or get into some infinitesimal online arguement. 

No doubt....COLD CALLING works.  I did it for many years with major success.  I have even done it recently with a new twist.  I am all about the numbers!  I spent over 500k in the past 2 years trying diffent methods of marketing to find the best ones.  Marketing internaly to existing clients to attract more of their investing assets and externally for new business.  SOCIAL MEDIA KILLS THEM ALL!!!!

Before you ask:

Social Media is free and our percentage of closing is dramatically higher.  When one of our existing clients refers someone into our network there is a 90% chance that the person becomes a client.  Additionally, the opening transaction is almost always much more significant and usually involves a transfer.  Through SM we can also communicate with all of our clients continually and have increased our asset base by 20% on newly invest assets from EXISTING clients in the past 12 months......if you are not getting results of SM you are not using it correctly.  We have been using Linkedin and it has been challenging.  Perhaps you encountered some of the same issues and gave up.  There is a new site we just started using which is much easier for our needs called Linkedfa.  You may want to give them a shot, but if i were you i would not give up on SM.  It works!

[quote=TenToesDown]

[quote=deekay]

[quote=TenToesDown]

Cold calling like a maniac and having excellent success, but always looking for another bullet to add to my gun and have never tried pitching a product.  Thinking about going the muni bond route in terms of pitching a product during my cold calls and wanted to get the general consensus from those who have done both.  Thanks in advance.

[/quote]

You've raised $2.5mm in your first three months and you want to switch things up?  Either you're lying or you're pretty stupid.  If your approach is working, why mess with it?

[/quote]

As far as i am concerned, you are pretty meaningless in the entire grand scheme of things so why would I have a reason to lie to you...or anyone else for that matter?  Also, I have found ONE method that works for me.  Can you give me a good reason why I wouldn't look for other ways to improve my calling efforts and look for ways that are even more effective or better at targeting another demographic?  I am not one to rest on my laurels, so if there is a better way to do something (i.e. product vs. appointment), I am all for it.  It is just that simple.

Given the tone of your posts, I respectfully withdraw my request for people's opinions regarding product versus appointment.  I wanted people's honest opinion...not to ruffle anyone's feathers or get into some infinitesimal online arguement. 

 [/quote]

With all due respect, a cold caller, like myself, has a thicker skin than your comment.

I like how this thread has nothing to do with Product vs. Appointment.

[quote=Otane]

[quote=TenToesDown]

[quote=deekay]

[quote=TenToesDown]

Cold calling like a maniac and having excellent success, but always looking for another bullet to add to my gun and have never tried pitching a product.  Thinking about going the muni bond route in terms of pitching a product during my cold calls and wanted to get the general consensus from those who have done both.  Thanks in advance.

[/quote]

You've raised $2.5mm in your first three months and you want to switch things up?  Either you're lying or you're pretty stupid.  If your approach is working, why mess with it?

[/quote]

As far as i am concerned, you are pretty meaningless in the entire grand scheme of things so why would I have a reason to lie to you...or anyone else for that matter?  Also, I have found ONE method that works for me.  Can you give me a good reason why I wouldn't look for other ways to improve my calling efforts and look for ways that are even more effective or better at targeting another demographic?  I am not one to rest on my laurels, so if there is a better way to do something (i.e. product vs. appointment), I am all for it.  It is just that simple.

Given the tone of your posts, I respectfully withdraw my request for people's opinions regarding product versus appointment.  I wanted people's honest opinion...not to ruffle anyone's feathers or get into some infinitesimal online arguement. 

 [/quote]

With all due respect, a cold caller, like myself, has a thicker skin than your comment.

[/quote]

Should your comment somehow matter to me?

Tentoes,

Deekay didn't call you a liar.  He said that you are a liar or you are stupid.   This is because if you are telling the truth, and I'll assume that you are, it makes you stupid.  You don't know this because you are new to the business, but one of the stupidest things that people do is to find something that works and then try to do something different.  If something is working, don't change it!

Otane's comments should matter because it is obvious that the negative comments bother you or you wouldn't respond.   Take the fact that he is telling you to get thicker skin as great advice.

Product vs. appointment is irrelevant.  Use what works.  I use appointment.  Bondguy uses product.  We both make a good living.

Anonymous,

I appreciate those thoughts and points of clarification, but before you assume everyone new to this business is a mindless idiot and that I am of thin skin, you should really take a step back because "assuming" generally only leads to one thing.  Having said that, my background is that before this business, I was in Management Consulting (Strategy) at the largest strategy firm in the business.  My coworkers there would probably run circles around most people...and they generally do.  I left there to start a company that I grew from nothing to grossing $4 million in sales before being consumed in the real estate debacle.  Why did that company fail?  In hindsight it is easy to see...but while I was growing the company (at a fantastic rate I might add), we executed on ONE main niche strategy that was fantastically profitable.  When the end was near, we had absolutely no place to hide because we were really only good at doing one thing. 

So your myopia allows you to assume that I am thin skinned whereas my years of business experience allows me to KNOW beyond a shadow of a doubt that having more than one bullet in the gun yields long term success.  My intent was not to get into an arguement with anyone.  I asked a question and expected a simple answer...not a lecture.  Anyway, it is 1:47...I have 13 more minutes before the top of the hour when I begin to power through another 45 minute call set.  Hopefully, my thin skin allows me to make though the calls without capitulating.  See ya.

Let me see if I understand this correctly.  You take the time to respond to every post that is negative of you, but you don't think that you are thin skinned.   You are just responding because you don't care what people say?

Nope, I am responding because I take GREAT pleasure in pointing out just how off base your silly misguided assumptions are.  No matter what I say (or anyone for that matter), you are going to keep ripping off these mindless posts that are predicated on your ridiculous assumptions.  No worries though, since I planned on taking Friday (tommorow) this week, I have been banging out 60 contacts a day for the week to try and meet my goal of 250 for the week.  Fell a bit short at 243, so I will try to get a few more before I call it quits today.  Like I said earlier, luckily I found the courage to keep driving forward given my history of being a shrinking violet!!

BTW, I leave you with this from our good friend Dr. Stephen Covey:

"We simply assume that the way we see things is the way they really are or the way they should be.  And our attitudes and behaviors grow out of these ASSUMPTIONS."

Pretty good, eh?  See ya...and have a great weekend!

Oh yeah, one last thing Anonymous.  Spoke to a guy today that I cold called and he told me he pretty much makes all of his investment decisions, didn't trust advisors after being burned by some know it all advisor, and that he was about to pump $40K into his SEP.  He was expecting me to bite immediately with usual drivel most people push, but after shootin' the $hit with him for several minutes about his company, which is a SAP Consulting practice by the way with right under $5 million in revenue (all for services), and sharing my consulting background and entrepreneurial experience, he agreed for me to work up a plan for him when we meet next week.  We really hit it off.  I may not get his business, but in general when I get to the point of doing a plan for someone, the tables turn dramatically in my favor.  His personal and business relationships are combined over the magical seven figure number!  Sweet!  Luckily I was able to overcome my white knuckled fear!  LOL!

Sicial media is verbotin at Jones. E-mail is allowed but with only minimal applications. How do you get around compliance issues? How do you get approvable e-mail addresses?

I think you are full of crap. If you have been calling for at least a month, you could care less what people say. You respond like a screaming little bitch.

Your arguments are like global warming. We can neither prove or disprove your assets, but I don't give a fuck. Get lost punk.

[quote=Otane]

I think you are full of crap. If you have been calling for at least a month, you could care less what people say. You respond like a screaming little bitch.

Your arguments are like global warming. We can neither prove or disprove your assets, but I don't give a fuck. Get lost punk.

[/quote]

Lose your blanket today?  Sounds like you have an inferiority complex if you ask me.  But you didn't ask me...did you?  Or maybe you are just an a$$hole in general.  Who knows.  Anyway, try asking your "partner"  to pump you up a little more often...maybe it will knock the edge off you worthless sack of $hit.  Don't get mad at me because I wake up everyday and  give my best effort to make $hit happen.  Always have, and always will.  Activity always yields results.  On the other hand,  YOU are an aimless keyboard loser with nothing better to do than to attack others while you reflect on your worthless existence...probably pissed because your numbers look crappy and you hate life.  I love it though.  Gives me energy.  Peace out you sucka!!!! 

LOL....what a loser. 

This guy sure has a bit of Windy in him.

To answer your original question: yes, calling with a product works as well or better than calling for an appointment or with a service. I built my biz calling with munis. But, calling with any fixed income product would work as well. I know million dollar plus brokers who use mutual funds. So, anything goes.

That said, one of the biggest mistakes made by all Brokers, FAs, FCs etc is finding something that  works and then changing it. 2.5 mil in the first quarter out of the starting gate is an excellent start. I understand your need to try to find greener grass, but you'd be foolish to do anything but put more effort into what is already working.

Good luck!

Something about this thread says bulls-it to me.

Pitching a product in a cold call smacks of "education" which works in this suspicious climate.

Provided anyone that actually picks up a phone today to listen to a pitch is smart enough to want educated,

Doubtful.   But sitting on your ass with your managers feeding you pizza as you dial and smile,  is no better way to spend your youth.  We all did it..

People buy people, not products!  That is the beginning and the end of it.  As for everyone providing you advice to stick to what is successful....sure if you want to be mediocre.  90% of your time should be allocated to what is proven and 10% to see if you can find a more cost effective way to increase revenue at a faster pace. 

I own multiple companies and these are simple business rules not financial rules.  The difficulty with this forum is that there are a lot of "Salemen" (FA's) who only do what they know.  This is why they are just salesmen.

Businesses evolve and so do the business practices.  Never give up looking for something better....that is exactly what gives you a competitve edge! 

Thanks Bondguy, Cinderella, and Freedomfighter!  I am always looking for ways to grow and anything else that can help is well worth it in my opinion, versus just sticking with one thing.  I should add, that I am also a member of a team.  Not splitting any fees yet because of the way we are set up, nor do they help me close business at this point, but two guys are already million dollar producers and two other guys are right under a half million...all built from cold calling.  These are young guys too...all in their late 30's.  Now they do have a specific business model,  and with the exception of one million dollar producer, everyone calls like crazy! 

I mentioned earlier that my branch manager and sales and service manager track contacts, connects, and average time of each call.  Get this, one of the million dollar producers on my team is usually ranked either one or two in terms of connects for the experienced FAs in the branch.  Pretty inspiring because I can clearly see that it works and my goal is to "outdial" everyone, everyweek!  

BTW, Freedomfighter, I am quoting what you said at the end of your post.  THis should be bulletin board material because it is so dead on in my opinion.  Thanks again!. 

"Businesses evolve and so do the business practices.  Never give up looking for something better....that is exactly what gives you a competitve edge! "

TenToes - If you want to keep it simple and give yourself a competive edge, check out a www.five9.com. You will quadruple your dial output and contacts.  Of course no matter what we do it will always be a numbers game!

[quote=Otane]

That is great.

Mind sharing how many calls you are making and what are you saying to the prospect to get the appt? 

[/quote]

Could you address this tentoes?

I call in 45 minute blocks starting at 8 am.  Later on Monday and Wednesday because I have meetings those mornings.  I call for 45 minutes then take a break for 15 minutes.  Generally, depending on the conversations I can strike up with my unsuspecting prey, I can generally bang out 40 - 60 dials per block.  Typically, I shoot for 3 call blocks in the morning before I eat my free lunch provided by a wholesaler!!!  LOL!  I am calling SMBs so it isn't too terribly difficult to get them on the phone so my number of contacts per call block is generally pretty good.  Then I take my lunch break and walk outside the building to get some sunshine and rejuvenate. 

After lunch, I knock out at least 3 more call blocks so in a given day, I am doing approx. 250 - 350 dials.  Today sucks though. ..108 dials and only 10 contacts, but I found one guy who has a jacked up bond portolio who needs help another guy who has been self managing with Fidelity and using his Ameriprise guy sparingly.  Should be able to move the ball forward with him. 

Generally, I am approaching things from a two step approach.  Initial call is to introduce myself and ask them how I work with a team and that we specialize in working with successful entrepreneurs in "anycity" in the areas of investment management and retirement planning (straight outta the Bill Good stuff).  Nine times out of ten they tell me they have an advisor so I look for a way to strike up a conversation because offering them that second opinion spiel has gotten me nothing but a big goose egg!  I have had no luck whatsoever with that approach.  I really just start asking them about their business, goals, etc to get a conversationg going.  Once I find some themes, I frame them up at the end of the call, email them some information pertinent to their solution, then set the follow-up call.  By then they are pretty happy with my non'threatening approach and I usually set an appointment the second time I call them.  When I do have appointments, I schedule them during certain times of certain days so that I have order to my day.  Otherwise, it is too easy to not make the calls. 

I am extremely energetic and nice on the phone and I have my script at the point of being extremely conversational on the phone rather than sounding like I am reading a script.  Like I said in another post, I was originally extremely nervous, but I just kept moving forward to try and get better and better at the cold calling stuff because I figured I would just "run into" people ready to roll...and I have.

Just got an email from my branch manager yesterday who is also the complex manager and he is upping the ante in terms of number of contacts per day for my class of trainees and the class prior to mine.  The pressure and competition in my office is crazy.  I overheard a conversation today from the powers that be and one guy is getting ready to be thrown under the bus.  His fault really.  He was a former entrepreneur like myself and I guess he felt like his past success would carry some weight.  My philosophy is that past success may get you in the door, but you gotta produce and short of having a group of rich friends who give you all of their money, activity on the phone is the only way to do it.  The branch manager and sales/service manager track everything, so there really isn't anywhere to hide. 

TenToes

Great post. Could you share how you answer the initial objection - more specifically- what questions do you ask to get the conversation going and bringing it around to their business goals.

Sports...

As strange as it sounds, I really don't answer the initial objection or try to overcome it.  Because I have already positioned myself as a SMB specialist at the outset, I merely ask them questions about their outlook for the year, hiring plans, etc. which generally starts the ball rolling and it can go in a millions different directions.  Again, I was a business owner before starting at this firm, so I generally try to share/make that connection because other entrepreneurs can appreciate that.    I also may ask how they are potentially going to be impactec (good or bad), by what is taking place in Washington although I make sure I NEVER take sides.  We have just come out with tons of research/analysis pieces to send to clients so this is merely another opportunity to cover a pain point and make a connection with the potential client. 

Yesterday was a wash, but today yielded a guy that needs to make sense of his responsibility as a 401k provider.  I asked him what his current advisor has done to manage/mitigate the risk of his personal investment portfolio in terms of  its correlation to the investment choices he has made in his own investment account in his company 401K plan at which point he immediately put his wife on the phone who needed to understand why that was important.  We talked a bit about why this is important and she immediately wanted to meet.  For other guys in our office that specialize in 401Ks (I don't), the plan isn't that big, but for me it is!!

I also met a guy in the automotive business today.  He and his partners need a securitized loan initially (our firm has been pushing those a lot lately), so that looks extremely promising.  Who knows when it will all close (or if it will close for that matter), but my spidey sense tells me I am already off to a good start for this quarter. 

 We are about to close the office early today since tomorrow is Good Friday, so I am about to "belly-up" to the bar and put down a few.  See ya!

Still haven't tried a product script yet, but I have been hammering away at the dials since the last update.  Consolidating a business owners personal IRAs and those of his wife to the tune of $$400k.  The guy is 5-10 years from retirement and does not have any type of financial plan whatsoever!  Also, taking the company 401k, but someone else is helping me attack this so I will split this with him.  Should be a nice sized relationship.  The moral of the story is that being on the phone works...if you are persistently consistent!! 

Financial Plans are as worthless as the paper they're printed on.

You are worthless.  Why?  Because you're full of it  Why?  Because you are posting in an online forum when you should be 100% focused on gathering your assets and writing up your phony baloney financial plans.  If you're only in month 4, why are you online trying to "share your expertise"?

Yes, cold calling works.  You're selling an appointment instead of product right now.  Let me give you ANOTHER idea:  why don't you talk about PROBLEMS that the prospect has... explore the ramifications of those problems, get the prospect to agree on those problems... and to meet with you for ideas on how to SOLVE those problems.  You'll get LESS appointments, but a much higher quality appointment.

However, you probably can't do this very well.  Why?  Investments don't solve problems, except for "low performing assets".  And unless you can bring up guarantees of some kind, you'll only compound the problem, and add additional stress to that existing problem.

Get back on the phone and keep doing what works.

Gordon,

"Because you are posting in an online forum when you should be 100% focused on gathering your assets..."

Aren't you posting in an online forum as well?  What a dumb ass!!!  If you will re-read (hard for you..I know)  You will note that I asked for advice, I didn't offer advice.  No worries though.  You keep sucking cocks and I will keep closing business!  Peace out you prick!

My frequency of posting is far less than yours.

If you read my post (yes, it's hard.  I'll try to type slower for you), I DID help you answer your original question.

BTW, I work in a different market than you do... and I have greater freedom in my schedule than you'll EVER know.

[quote=Gordon Ramsey]

My frequency of posting is far less than yours.

That is BS.  Looks like you were posting  in multiple threads today.  Liar!

If you read my post (yes, it's hard.  I'll try to type slower for you), I DID help you answer your original question.

BTW, I work in a different market than you do... and I have greater freedom in my schedule than you'll EVER know.

You obviously labor under the impression that I really care about your schedule.  Sounds like an inferiority complex if you ask me.  Oh and btw,  I can tell your schedule affords you many more luxuries than the average bear since you can't seem to find anything else better to do with your time than share your worldly expertise with others.  Like I said..."What a dumb ass!"  

[/quote]

Pick a bond, pick a list, pick up the phone, dial and repeat. If people are interested - they'll let you know. Same with any product.

People WILL listen, will talk with you, will meet with you.  It works. Keep it up.

Kicking Ass and Taking Names...and still cold calling after 4 years doing it. Wouldn't be doing it if it weren't working!

[quote=Takingnames]

Pick a bond, pick a list, pick up the phone, dial and repeat. If people are interested - they'll let you know. Same with any product.

People WILL listen, will talk with you, will meet with you.  It works. Keep it up.

Kicking Ass and Taking Names...and still cold calling after 4 years doing it. Wouldn't be doing it if it weren't working!

[/quote]

TakingNames,

Thanks for your response.  Why it is so difficult for others to give a professional and civil response such as you did is beyond me...so once again I applaud you for the simplicity and candor of your response.  Going to try the product (muni bond) route next week because I am frankly tired of saying the exact same thing on the phone.  Just want to try something different to see if I can improve on my results.  Will report my results at the end of the week if I can gain any traction. 

TenToesDown:  The Muni Bond Route at the moment is a very good idea... Your main focus when making the call should not be geared toward the product, but at the tax benefit they provide... 

You probably know all this already, just giving some insight...  This is the exact route that i have taken... its been working some... supply is low and demand is up, simple economics 101... Bonds are Expensive!

[quote=Rwarchol5]

TenToesDown:  The Muni Bond Route at the moment is a very good idea... Your main focus when making the call should not be geared toward the product, but at the tax benefit they provide... 

You probably know all this already, just giving some insight...  This is the exact route that i have taken... its been working some... supply is low and demand is up, simple economics 101... Bonds are Expensive!

[/quote]

Good insight!

On pitching tax frees keep it simple. I'm calling today with a bond that's yielding 5% tax free. In your tax bracket that's the same as a CD yielding 7%. Tell me Mr. Smith, do you have any CDs yielding 7%?

Just one variation on a theme.

And before anyone screams about 5% tax frees they are readily available if you know where to look. Not hard to find.

To continue:

Tell me Mr. Smith do you have any CDs yielding 7%?

(no)

I didn't think so, they are hard to come by. Does this bond sound like something you could have an interest in?

(maybe, what is it)

It's an A rated Blank blank with a blank coupon priced at blank to yield blank.  Have you bought tax free bonds in the past?

(yes)

Terrific! then you know what great deal these bonds are and that issues like this don't come up very often. I have 300 of these bonds. When i have an opportunity like this i usually keep a small amount aside to start new relationships. What i'd like to do is start with 100 bonds. That would be $100,000 cash plus another $1160 in accrued interest. Is that a comfortable level for you or would you like more?

(Boy, you don't kid around, right to the punch line. that's a little too much for me today. What's the minimum i can do? )

Because this is such a strong bond, it really is take it or leave it, so no kidding around. The bond will be gone within the next hour either way. And probably it won't last that long.   I don't make the market rules. I just have to play by them. To answer your question my minimum is $50,000 on this issue. Less doesn't make economic sense on our end. Is 50 doable?

(I'd love to but i can't)

Is it the money or the timing?

(it's both, I'm cash poor right now)

No problem, when, in the near future do you see yourself being in a more liquid position?

(I have cash coming in in about 3 months.)

And you said you have bought munis in the past?

(yes)

Can you tell me what types of munis you own?

(wow, what a question! I own a lot of state bonds, no revenue stuff...)

G.O bonds?

(yes, that's it, GOs)

What ratings do you like?

( i want the best...)

But you'll take less if it looks safe?

(yes, but it's got to be very safe)

Out of state bonds Ok?

(No, i like to stay in state only)

And amounts?

(I usually invest 25 to 100, i've got to really like it to buy 100)

Anything else i should know?

(yeah, could you send me your card...)

Absolutety, I'll send you my card, some information on who we are and  if you give me an email address I can send you offerings by email. They will keep you up to date on the market and serve to let you get to know us a little better. Then when your liquidity situation improves I'll find you a bond that fits. how's that sound?

(sounds good to me. My email is...)

Terrific! It was pleasure speaking with you, i'll get that info right out to you,have great day.

More or less all day long.  Drip on this guy once or twice a month. get a meeting if you can. Call to close two weeks before money due date. His broker will be all over him one week before. In fact if you can extend settlement, go to the max period and call then. The further out in front of everyone else he is talking to, the better your chances.

Finally, you don't have to use a bond to call with. You can do a general call saying you have nothing today but are seeing X yields would they be interested in a call the next time you see something? or., would they like some info. Qualify for money on all calls.

Rwarchol5 & Bondguy,

Thanks for the replies.  Awesome material!!  Thanks again and keep it coming!

E.

TenToesDown,

You don't want to get burned out.

Go ahead and try a "product", but more importantly when you are doing your normal - "promote yourself, get the appointment...." when its going down in flames - THEN switch to a product. You have a live contact, who just said "I have a ML or SB rep and am quite happy with them...", one response could be "I found that many affluent clients also have CDs/Savings accounts and their current rep. has not reached out to them with solutions in this low interest rate environment. CDs were 5% now 1%. How is your cash working for you?"  get him talking, like the earlier guy said "get him to acknowledge a problem he didn't think was solvable".  You of course are leading to tax free or taxable bonds or even a bond fund. Most wire line reps. hate muni bonds - they pay $10 to $15 per bond and there is no 12b1. Oh sure, put the 3% muni into a 1.5% managed account? that doesn't sound like a fidicuary.  I like zero coupon muni bonds or 5/6 yr structured CDs for college savings - most 529s blew up in 2008. Take a look at the Blackrock Global allocation or IVY asset allocation fund - you could sell them as a unique "solution" - loose less, make more - its what most of us want.

Regardless, you want to get a meeting and get an account open. Build trust, it takes time...

My team built our book on educational seminars that wholesalers paid for, we cold called to fill the slots then worked the attendees. Once we actually had clients, we would invite 3 or 4 of them - get one current client at each table - they will rave about you - its a great way to quickly build trust. with prospects. Ask current clients to bring a friend like them - it works too.

Be gentle!  I don't have a thick skin and I know it!