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12 Month Journey to 6MM AUM

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Sep 29, 2011 2:59 pm

Hello RR Fellows,

I am going to start an accountability thread. I have been following this forum for some time, and have garnerd a great deal of information from fantastic threads and posters such as Bond Guy, DMAN, etc. I have especially been motivated by Long Shot, and his recent activity levels. As such, I am starting a thread of my own- perhaps it too can be helpful to other rookies such as other posts have been helpful to me.

Brief Background-

3 years at Charles Schwab in Advisory role, migrated to Wirehouse in Central California (Bakersfield). I start production tomorrow- my primary marketing channel will be cold calling, both residential and businesses. My list source includes Infinita for businesses and Sales Genie for residentials. From my limited understanding, it seems that cold calling can generate results faster (although not neccessarily immediately) than COI meetings, networking, etc. I will however, pursue those methods as well, when my cold calling targets are made.

My daily goal will be 400 calls/day, except every other Friday when I am at School in So Cal. I will also call Saturdays, when available, which will probably average about 2/month. My objectives for that day will be 50 residential contacts.

I welcome any feedback, suggestions, or flaming if I don't stick to my targets. Hopefully, this can also be helpful to other rookies that are building a business.

Aformentioned in the thread heading, I hope to lock up 6MM in AUM. In addition, my total PC goal is 100,000 for the year, and 50% of my AUM to be annuitized. Thanks all.

Sep 30, 2011 10:50 pm

First Day Out of The Gate-

352 Dials, 31 Contacts, 2 leads

I fell short of my goal by 12%, which isn't going to cut it. I was calling on the product, CA muni bonds.

Oct 5, 2011 2:53 pm

Are you trying to sell the bonds over the phone ; or guage interest ,size and ask if you can stop by to deliver a sheet on the bonds?

What is your pitch?

I like to add " I would assume your portfolio is over $2,000,000 ~ right? No? What about $1mm? , size them hard.

Also add, The approach you've used the last 5 years, if you had to grade it (like in school,... A-F, What would you grade it?)

If they say B-,C, D,F , you can offer " If I could show you how to get to an A, Could we review a few solid ideas now?"

Not that important what you say as long as you have 10 prospect appointments a week, online even...
and Size and build up a list of 300 people with investment portfolio's > $2,000,000.

If I could do this again , I would only write up leads with people with > $1,000,000 period.

MY 2c


read all the market news at TWEETss

Oct 5, 2011 6:20 pm

Hey Dashover, Sorry I haven't posted Mon/Tues- I got a very nasty bout of FP on Sunday, and was out Mon/Tuesday. Not feeling great today, but I felt horrible missing 2 days of calling.

Thanks for your input and suggestions.
I have read many of the innumberable posts, and am calling with muni-bonds (I live in Central CA), to higher income residentials (I'd say middle money) and small businesses. I have been considering adding a service call to businesses, as some have mentioned that it works well. Conversely, selling a bond and then penetrating the account over times seems to work as well.

With regards to qualification, I am still trying to feel that out. I have only been calling for a few days, and my approach was going to be to qualify by bond order sizes. That way, it is a bit under the radar, but parses out the peanuts.

I appreciate your thoughts and approach as well. I'll let everyone knows how it goes. I have to say, looking at other threads, Long Shot has been smokin' it lately, haha!