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MGolds Cold Calling Journal

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Oct 11, 2011 12:56 pm

I am fairly new to the business.  I have tried cold calling in the past but always wind up discouraged.  This time I am going to stick with it until I get the results I want.  I'm going to post my numbers and results here. Feedback is appreciated. 


Calls Made: 400

Contacts: 48

Prospects: 4

AUM: $1.5M

Going to try to make at least 400 calls a day.  

Oct 11, 2011 7:54 pm

Unfortunately I have to leave the office early today...its my last semester of grad schoool and I have class tonight.  I was able to get most of my calls completed tho.

Calls: 388

Contacts: 46

Prospects: 4

I am calling residences w a muni bond.  Tomorrow I am going to try calling a business will be first time.  Ususally I just call residences but after reading some of the posts here it seemsthat calling businesses is more effective.  

Oct 12, 2011 9:29 pm

Day 3

Calls: 493

Contacts: 54

Prospects: 5

I was still calling residential today.  I want to call businesses but I feel uncomfortable doing it.  Not really sure why.  I know i have to just pick up the phone and do it.  I am located in an area with lots of retired, wealthy people so  Its easy to find prospects home during the day.  

I asked for a few appointments today and was shot down but hopefully down the line....

Oct 17, 2011 9:05 pm

Ran out of time to post the rest of last weeks results.  Here they are now:

Last Thursday: 

Calls: 93

Contacts: 10

Follow Ups with previous prospects:  Attempted 12, reached 4

Thursdays are hard for me to make calls because I have a meeting every Thursday morning and then in the afternoons I attend Rotary.  These have both been beneficial for my business but they take up calling time.

Last Friday:

Calls: 335

Contacts: 47

Appointments: 1.

Lsat lady I dialed said she was interested in the bond rate I was calling with.  We scheduled an appt for Monday morning.

Unfortunately on Sunday she called and left a message saying she has no funds right now.  I called her back Monday morning wondering if she had anything coming due in the future and she said no...said she is looking for a job.  Its my fault for not qualifiying her properly but I was so exctied when she said she wanted to meet me.  


Calls: 200

Contacts: 34

Appointments: 0

I had two appointments today.  One became a client.  Bought a small annuity 15K but has large account elsewhere that I believe I can get in time.

Second appt has old 401Ks everywhere.  Explained benefits of rolling over...meeting later in the week to gte that moving.

Also sold a 500k life insurance policy to a new client.  So I had some activity today but nothing from my cold calls yet.

Oct 18, 2011 12:40 am

"said she is looking for a job"
Dude 401k roll-over. Make lemons out of lemonade.
With enough time you will be quick on your toes to spot opportunities.
Keep plugging away. The hardest part is once you fall off the wagon to get back on.

Oct 20, 2011 12:59 am

Tuesday's Results

Calls: 200

Conatacts: 35

Prospects: 2

Nothing too exciting.

Wednesday's Results

Calls: 311

Contacts: 49


I know I need to just keep calling and things will happen....gets kinda boring day after day.  Hopefully tomorrow will bring some exctment.

Oct 25, 2011 11:18 am

Fell off the wagon a bit last week....didn't make any calls on Thursday or Friday.  Thursday I was out of the office for meetings most of the day.  

Anyway, I got back at it yesterday.


Calls: 310

Contacts: 44

Prospects: 3

Wish me better luck today....really hoping for an appointment.

Oct 26, 2011 11:41 am

Yesterdays results

Calls: 407

Contacts: 52

Prospects: 4

So far I have made 3109 calls, spoke with 414 people, 25 qualified prospects and 0 sales.

I know I just have to stick with it.  Had a major surgery a few months back and the medical bills are rolling in so a few clients would help. 

Nov 1, 2011 4:19 pm

I've been out of town for a wedding the last couple of days.  Last Wednesday was the last time I made calls.

Calls: 184

Contacts: 30

Prospects: 5

Appointments: 1!!!

Had the appointment yesterday.  Widowed man.  Portfolio of about 500K that he doesn't plan to touch...just pass on to family when he passes away.  Showed me statements.  Said it takes him a long time to get comfortable with people.  Have second appt scheduled.  Hopefully can move some money then.  

Nov 2, 2011 1:54 pm

Keep going man, I am going to start in a few months and this is very inspirational. If you're still at it two months from now lets get a competition going. We can each post how many calls we made and I'll follow the format you have for reporting and this way we can inspire each other.

Keep going!

Nov 7, 2011 1:27 pm

I am ready to get back on the phones!!  Last week wasn't my best calling week.  I was out on Monday because I was returning from an out of town wedding...Then Tuesday I had to rush a family member to the hospital.  It was a little hectic.  For the whole week I only made 332 new calls, 57 contacts, and 3 prospects.  I am ready to go this week.  NO more distractions!!  Wish me luck.

Nov 7, 2011 1:29 pm

What are the rules about calling on Veterans Day?  Its this Friday and I'm not sure if its okay.  Most of the people are older, retired so a lot are veterans.  Do you think it would piss them off to be called on this day?

Nov 8, 2011 2:38 am

Today was a great day.  I was able to ignore all the distractions and get my calls made.

Calls: 409

Contacts: 73

Prospects: 4 (not many for this many calls but...)

Appointment: 1 Widowed lady that is interested in munis.  Meeting with her on Wed morning.  Keeping my fingers crossed.   Might have another appt on told me he had CDs that matured on the 1st.  Hasnt done anything with the money  yet.  told me to call him again on THursday morning.

Nov 8, 2011 1:53 pm

Just got back from a networking breakfast...Met an older man there that asked me a question that I had a hard time answering.  He asked what I did and I told him that I was a financial advisor.  He said no offense but how can you plan anything when you are so young??  I was caught off guard and not really sure how to answer.  What should I have said?

Nov 8, 2011 5:36 pm

There's probably alot of clever things you could thing of to say. But if someone feels that way there's probably very little chance you'll change their mind. If you think they're testing you, that's another story.

It's probably why networking breakfasts are likely a huge waste of time for a new Advisor.

Also, in general, the more you can direct attention to a product, the less direction/questions/apprehension will be placed on you/experience/age etc.. Especially true if it's a product that can't be screwed up by an Advisor.. so stock picking and asset allocation of a rollover is low on the list.

In that situation you could probably say something simple like 'I find the best bonds (or yields) for people based on their risk and time horizon..usually tax free... '

Nov 9, 2011 3:51 pm

Thanks for the suggestions Bobby...thinking I should have told him to f*** off. 

Yesterdays numbers:

Calls: 200

Contacts: 34

Prospects: 2

Appointments: 1!! Woman said she had a 401K form an old job and doesn't know what to do with it.  Set up appt for next week.  Widowed muni buyer didn't show up this morning...I called her and she said she thought our appt was for 4 this Im keeping my fingers crossed she shows up then.  Gonna make more calls in the meantime.

Nov 9, 2011 8:00 pm

Awesome job sticking with it. With over 4,000 dials so far, where are you getting your leads from? If it's a lead list service, that will get really pricey.

Nov 9, 2011 9:51 pm


Yeah, great job and also fun to read you're posts...keep going.....

All The Way

Nov 10, 2011 1:44 am

Muni buyer showed up this afternoon.  Sold her some bonds...I made a big mistake when we were talking on the phone...she asked me the minimum and I was scared if I said 100K I would scare her away so I said 10K.  Unfortunately she only opened the account for 10K. I know this is completely my fault...Just being as poor as I am right now 10K sounds like a lot.  She did tell me that she isn't happy with the person that is currently handling her stock portfolio...said she wants to get to know me better and we can go from there...she said to call her with muni rates often and if she has the cash she'll buy.  

Todays calls:

Calls: 200

Contacts: 33

Prospects: 6...Lots of people were asking for info...we'll see what happens.  

Thanks for the encouragement All the and Inland!

Nov 10, 2011 2:11 am


You're a real sport for posting that.......the 10K minimum and all. It is worth a laugh.....funny how people navigate to the minimums.....anyways.....1) you may think you are poor at this moment, but keep firing out the work and you WON'T be lacking in no time and 2) Raise your minimum mate...stick to the 100K.....

This post of yours captures the essence of having minimums and that guy with the Size'em.

Thank you for the is worth it's weight in MGold, and keep posting, because you are really doing the grunt work and I look forward to reading about your successes.

All The Way.