The easy answer: work in a bank environment!

Since you're comfortable with this tired old script, I'm not gonna post any tough question examples. You won't be "comfortable" using them.

Not a bad start but let me add a few of my own thoughts:

- Don't acknowledge that they are busy (or that you are) and don't tell them you'll be brief.  Go right into it.  If that's too much to bear and it makes you feel too direct, then try something like "Mr. Prospect this is Bill Broker over at XYZ securities.  If you have a quick moment I wanted to share an idea with you that has been providing investors with better than a 12% average annual return over the past twenty years.  Would you like to hear about it?"

- Don't try to "charm" gatekeepers.  Ever.  Be professional and treat them with respect.  Tell them who you are and where you are calling from.  If they ask what the call is regarding tell them it's regarding a personal investment recommendation.  That's it.  Remember, cold calling is all about numbers.  You better believe you are going to get screened if you are calling on executives.  No big deal; just keep dialing.  Also- try and reach the executives early morning/late afternoon.  And this is where direct #'s are key, as with corporate directories.  If anyone asks where you got their #, tell them that an advisor who recently left the firm had their name/# on a card.  You're not sure if they've ever spoken with them before but you and your firm make it a point to keep up contact with prospective clients (yeah, it's a little shady but it works every time and diffuses the situation immediately).

- Don't ever compare market returns to the investment in their business.  Same goes with real estate.  It's almost a put down and (believe me) many biz owners and real estate investors have done incredibly well investing in just that.  Simply ask if they might be looking to diversify or reduce the amount of taxes they might be paying.

- Mail=fail.  Unless you are doing a huge mailing on a consistent basis, it's not worth the time or money.  That said, be sure you are mailing something to every new prospect and to all prospects on a monthly basis (minimum).  Don't mail to a cold prospect and "follow up" with a phone call.  They won't remember what you sent them and it just gets awkward.  One exception is a (seriously) personalized letter that you send to someone you say in the paper (hand stamped/written with a copy of the article). Oh- and include a SBUX gift card.  THAT they will remember.

- If I had 6 months to "make it", I would pick a particular mutual fund that I liked and pitch it a minimum of 300 people a week.  Go like crazy.  After 6 months I would probably have opened 80 accounts with an average size of around 50k; that's 4 mm in new assets and probably 100k in gross if you put half in C shares and the other half in A/B shares.  No doubt your firm would be quite pleased and you would have 80 households to go after for more $.  Not a bad start. 

i like calling on the preferred. focus on the yield, and limited amount of shares available for "new accounts". if the prospect isn't intrested, ask them if they are more intrested in growth or income. dividend or intrest, taxable, taxfree, etc.

if you play the #'s game with this, you will open tons of lots of new accts.

[quote=Ashland]

Since you’re comfortable with this tired old
script, I’m not gonna post any tough question examples. You won’t be
"comfortable" using them.

[quote=Vin Diesel]

i like calling on the preferred. focus on the yield, and limited amount of shares available for “new accounts”. if the prospect isn’t intrested, ask them if they are more intrested in growth or income. dividend or intrest, taxable, taxfree, etc.

if you play the #'s game with this, you will open tons of lots of new accts.

[quote=joedabrkr]

And what happens when interest rates go up?
[/quote]



Negative Convexity and Extension risk

[quote=joedabrkr] [quote=Vin Diesel]

i like calling on the preferred. focus on the yield, and limited amount of shares available for "new accounts". if the prospect isn't intrested, ask them if they are more intrested in growth or income. dividend or intrest, taxable, taxfree, etc.

if you play the #'s game with this, you will open tons of lots of new accts.

[/quote]

And what happens when interest rates go up?
[/quote]

I've seen FA's in my office place clients in prfd's in the midst of the Fed's rate increases. Clients are content with the steady yields, especially since the fed has paused since their last round of increases.

These are a great way to begin working with a client. Nothing wrong with this being apart of the fixed income portion of a clients portfolio, or are you against fixed income being apart of a portfolio?

707SE do you really work for Waddell & Reed?  How long does it take for people to figure out you are an investment firm over the phone??

[quote=joedabrkr] [quote=Vin Diesel]

i like calling on the preferred. focus on the yield, and limited amount of shares available for "new accounts". if the prospect isn't intrested, ask them if they are more intrested in growth or income. dividend or intrest, taxable, taxfree, etc.

if you play the #'s game with this, you will open tons of lots of new accts.

[/quote]

And what happens when interest rates go up?
[/quote]

you advise the client to sell them, and "re-position" those assets into your new best idea. now they have a tax loss they can use.

[quote=BullBroker]707SE do you really work for Waddell & Reed?  How long does it take for people to figure out you are an investment firm over the phone??[/quote]

Nah. I just used that firm for the sake of the pitch. Hopefully I didn't violate any industry regualtions

Truth be told, my firm does provoke a pause when I say its name. Sounds like a law firm although it has folks seem to be becoming more familiar with it lately.