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Cold Calling Road to10 Million AUM. Journey Begins 4/30/12

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May 10, 2012 1:32 pm

Slacking a little from the Contacts, tough day with no new prospects.

Contacts: 35

Prospects: 0

Need to get in a solid 50 today to have a good shot at finishing the 200 for the week.  Time to get in front of these people.  Have a meeting today with an old cold call prospect- wish me luck.

A lot to take in from Hacksaws comments.  Definitely will take his suggestions to create that urgency. 

All the Way- you summed it up, get the account or get the meeting...go for broke

May 10, 2012 6:42 pm


Keep up the good work.  Tough days come and go, but always remeber those days that you started with 30 dials, had 10+ contacts and a prospect or two!  It all evens out.

Agree with the comments of AtW and Hacksaw and you summed it up...

Go For Broke! (Possible young/rookie-broker mantra?)



May 12, 2012 7:14 pm

Been a busy week between proposals and meetings.  Some good and some bad, really need to organize and eliminate distractions to prioritize the 200 contacts.


Contacts: 140

New Prospects: 7

Overall TOTALS


Prospects: 18

Had 2 meetings this week, one from a referral and one from an older cold call.  Keeping fingers crossed.  Going to recharge for the upcoming week to hit that 200.  It takes a lot of energy to grind through the numbers to do it, but pretty much knew that going into this business.

Callbacks set for Tuesday and Wenesday.  Really working in for asking for the meeting or the order.

Great posts popping up all around on the previous threads.  Good luck to you guys this week 

May 14, 2012 10:59 pm

Just wrapped up a dry one

Contacts: 40

Prospects: 0

Hitting the callbacks tomorrow.  Time to grab a meeting from the pipeline.

May 15, 2012 2:29 pm

Murdoc,  Whats your dial to contact ratio so far?

May 15, 2012 6:16 pm

10:1 for residential

7:1 for business.

Usually can do 40-50 contacts with 300 dials

May 16, 2012 12:00 am

Just finished up.  Good progress with the callbacks.  Had a lady that said she wanted to meet in 2 weeks!  Couldnt lock her into a date.  Tenatively set up a time at her office.  Feels iffy, so call it a 0.5 Meeting.  Anyways, callbacks are getting stronger.

Got very good traction today with businesses 12-2:30, and Residentials from 5:30-7pm.

Anyone having luck with Saturdays.  Been doing 10-1pm.  Thoughts or experiences.

Contacts: 40

Prospects: 2

May 17, 2012 12:08 am

I think that this is the last saturday that I think will work with the summer but I have had pretty good luck. 

May 17, 2012 12:43 pm

Contacts: 40

Prospects: 1

Slow grind this week.  Hitting the second round of callbacks today

May 21, 2012 2:19 pm

Been a few days since the last post.  Here are the Week 3 Totals

Contacts: 166

Prospects: 4

Been using a list that is being overly-called on.  Time to find another list I suppose??

No real traction on the callbacks on Thursday and Friday.  One prospect asked to be called back on a very specific set of criteria for an individual bond.  Qualified him for 100K


Contacts: 500+

Prospects: 22

Meetings: 1


Trying to hit 40 contacts  for Monday-Thursday.  50 contacts just seems a little of a stretch at this point, been falling behind in running proposals and other admin work.  I definitely need to tighten up the schedule and time management.  However, I want to shoot at realistic goals it feels here.  Or maybe I should just suck it up, drink more coffee and nail the 50!

Get in here early, hit the phone, ask for the meeting, ask for the order.  Pretty simple game I suppose.  Looking forward to a good 4th week

May 21, 2012 3:05 pm

I go for 25 contacts per day and 2 people added to my pipeline. I go for the order on the phone and if they don't want an order, I ask if I can send them some ideas on how they can increase their income (tax free) and add them to my pipline. If you're pitching muni bonds, what is the purpose of the first meeting? to meet you? I'll meet them when i bring out the paperwork and pick up the check.

I wasted three months going on meetings and getting no where.

May 22, 2012 1:09 am

"One prospect asked to be called back on a very specific set of criteria for an individual bond. Qualified him for 100K"
Find it. Call your bond desk. Give them the parameters and tell them you have someone who wants $100k of it. They will tell you if it’s available. If not, get the guys name and call him every week for a month asking him to check.

May 24, 2012 1:17 am

Updating on the Week 4 so far M-W

Contacts: 103

Prospects: 9

Just set a meeting for next week!  Booked Meetings are now at 2 for this month.  Prospect is working with another broker, looking for other investment ideas (yield, downside protection, etc).  Felt good on the phone, building the pipeline, getting the meeting was a nice bonus.  On to moving some assets soon.  Will keep you posted with week end reults 

May 29, 2012 11:05 pm

Finished With Week 4.

Contacts: 150

Prospects: 11

Just started a short week to kick off the next 4 week cycle.


Prospects: 2

Have a nice meeting setup for tomorrow, will get an idea of the total assets uncovered.  Generated a total of 33 prospects for the first 4 weeks, of those 25 are still in the pipeline.  Still working on those for meetings/next steps

May 30, 2012 7:50 pm

Hey great work madoc, just wanted to ask you a few quick questions.

1) What is your pitch? Muni's or Portfolio reviews etc.

2) Are you calling businesses, or residentials?

3) If you're calling residents where did you get your lists

I know these questions may be too much to answer and you might not want to reveal some of your sources which is understandable, but what ever you're willing to share Id appreciate it.

May 30, 2012 11:23 pm

Just finished up today with a great meeting.  Walked through some strategies on the equity and fixed income side.  Munis was the opener to the conversation.  Prospect is working with 4 other brokers, loves the multiple angles on investment strategies. 

End result: asked for $1MM proposal...wish me luck.  Hopefully pounding these phones for the past 4 weeks really pays off.


Contacts: 25

Prospects: 1

Harkkam:  Some insights for you from getting my number in January 2012.

1)  I use retirement planning and munis for residentials and businesses respectively.  Most businesses owners are in a hurry, show them yield (greed) get the hook.  What is earning 0.2% interest at Savings and Loan and what is coming due in a CD??  Now we are talking

I think retirement planning is solid for a list of 59+.  However, I have found it tough to sell urgency.  If I'm lucky I am finding someone who is retiring this year.  I'll go through the retirement plan, lets say 500K.  Then they will say "Ok this looks good, I'll think this over and decide in December when I do leave."  My response "This analysis is based on the beginning of this year.  Why arent we doing this right now, its now April, you need to do this anyways."

Response:  "I want to sit on it a little longer I still might be working till ____"

In the end its a great account, has annuity potential in there, etc etc.  However, you still need a ton of PC's in the meantime.  What can I get my hands on in the 60-90 day window TOPS...thank you wirehouse structure

2)  I think there is success in contacting both residentials and businesses.  To hit the high contact goals you see on this message board, you need to be calling businesses.  It literally takes me most of my day calling from 8-6pm to get 50 contacts.  I think residentials in the numbers of 25-30 is a more accurate goal to shoot for.  Comments welcome on these numbers.  That Mystery Advisor script I think is pretty solid, that was posted on your thread.  A lot of it can be consolidated but I like the angles it has.

3)  Residentials I would buy lead lists.  Use the specific criteria you want with age, investable assets, zip code.  Make sure they have good refund policies and call the shit out of it.  I've been able to get almost a free list because of Bad Numbers Do not Calls, firms clients, etc  There are plenty of good references of list brokers on the site.

I think there are plenty of free sources for businesses.  Corporate Directories are gold...trying to get my hands on a couple.

Appreciate the comments and help i have received since end of April.  Looking forward to some big numbers for this month

May 31, 2012 12:43 am

Hey Murdoc.  Sounds like you are on the money.  I am a rookie too, and I do nothing but call and a few referrals are starting to pay off.  I am at 700% of my hurdles right now and starting to build a fee based foundation moving forward.  Good luck!

Aug 28, 2016 8:50 am

built a 500k practice and raised 32 million in 3 years… PM me for advice I live and breath this, and nothing I would rather do than help others succeed. As long as your not in my market!

Sep 1, 2016 1:05 pm

Murdoc, great post. I started with a national wirehouse a few weeks ago and have been hitting the phones hard however not having the success you have had. My lead list is similar to yours in age and investable assets for residentials. My biggest roadblock so far has been the dreaded “I have a financial advisor already. Not interested…click” My approach has been retirement planning and offering a second opinion. I have not tried leading with a product for residentials however I’ve had better success with the business owners being more open to listening. Any advice would be great.

Jun 4, 2017 10:42 pm

mama1212 wrote:

built a 500k practice and raised 32 million in 3 years... PM me for advice I live and breath this, and nothing I would rather do than help others succeed. As long as your not in my market!

@mama1212 How can we connect? I want to talk. Shoot me a message