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Decisions..Decisions...which way should I guide my ship (fee based vs transaction with product pitch or appt?)

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Nov 19, 2011 3:08 am

Hey guys I am about a month into my training program and I will be taking the series 7 in about one more month. Then have a few months after that before I get my production number.

Anyway here goes the question. The hurdles that I have I want to make and thats obvious. I have two questions.

1. Is it better for a rookie adviser to focus his pitch on fee based solutions vs transactional like muni bonds?

(Better is defined as the probability of finding people who are more willing to do business and close accounts with me so that I can make my hurdles)

2. Now in either case whether my goal is to sell them a bond or sell them managed money service, do I angle for an appointment or do I pitch a product?

(I'll explain more, with a product I feel like I'll be able to capture the transactional business but also pique the interest of the person on the phone offering them a tangible solution and THEN setting an appointment, leading with a product and then transitiong to other services once they come in. Or should I gun straight for offering service and value and nothing tangible and try and make an appointment? I feel like a service based approach with no product trying to setup an appointment is not as strong as a product that the other person can put value on instantly and will be hestitant to part with their time.)

hoping for some insight guys. Thanks

Nov 19, 2011 7:23 am

1. Product.

2. Pitch.

You're goal when prospecting is to peak their interest. A product has potential to do that. Even if the prospect agrees that a review/service is worthwhile, nothing is motivating about it. Not to mention, when you're not armed with a product, and selling your services, what's the first few things they're going to want to know about you and why you're so great? Why shine a flood light on your 0 experience.

If you're at a wire you'll probably have to fit their mold, which is likely different than my response, but you asked what's best for you, not for the company. The product will help you gain sales, AND places you into a great position to attain a relationship which includes more services over time.