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Building a BOB in the south

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Jan 29, 2017 3:44 pm

I am a young FA in the southeastern US. During my cold calls I always get the same rejection:

"I have a buddy that I have worked with for years."

It is really frustrating. I am damn good at what I do. I worked as a bank FA for about two years. I left because I refused to keep slinging VAs at every meeting scheduled for me. They only wanted me to get 7 and 63 licensed ( and insurance of course). When I suggested that we get the 65 or 66 and move to a fee based business because it would be better in the long run my boss replied, " I will be retired in the long run I want revenue now!" He made me take all comission up front and mostly sell VAs and A share MF.

I have a few clients that I am bringing with me. However, it is not nearly enough. Cold calling seems so counter productive. I don't think the clientele I am calling on respects anyone who cold calls. They want "one of them" or "a good ol' boy" how do I win them over? How do I earn the respect of the HNW and mass affluent in my community?

Jan 29, 2017 10:29 pm

It's not counter productive. You just don't understand the numbers yet.

Dial Log last week:
350 dials
31 contacts
9 prospects

3 appointments set Here's the response to someone saying they have a a guy already: I'm already working with someone: Would you ever be open to a second opinion?" Most times they say "I am happy, not right now, no thanks." If they have been nice on the phone my response to that is "I understand, but how about this, would it be ok if I checked in with you down the road, maybe 6 months to a year to see if you're still happy with your service?"