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May 15, 2010 1:43 pm

In an attempt to drive up comments:

I am currently having a big push on alternative fixed products (FIAs, NT REITS, etc)... With CD rates hovering at crap%... I am finding a lot of people willing to take 25-50% of their CD money and try something else..

Also with the volatility lately in the market I am setting a lot of appointments by asking :

"How is your advisor's strategy different then last time when the market turned downward? Is he still giving you the advice of hold steady? That is not a strategy. Did it work last time?"


May 15, 2010 3:09 pm

Any you think that is better than others ideas?

How are you getting this conversation going?  Cold calling?  Doorknocking?

Looking at Alternative Fixed Products?  People pay you for advice?

May 15, 2010 3:19 pm

I think the idea depends on the prospect... willing to take a lot more risk(REIT)... want safety(FIA)..

Cold Calling

Not sure what your last line of questioning is..

May 15, 2010 8:57 pm

Hope it gets more comments than mine.

May 15, 2010 10:53 pm

What works is being straight forward. 

I like to talk about simple bond ETF indexes in a wrap account. Obviously long term bonds, TIPS, junk and the like could be scary now, but educating folks about the fixed income world in the basis for opening accounts - moving the money.

I was driving through a neighborhood last night, looking at all the little yards that looked the same, and the big houses, and the landscaper trucks pulled up mowing the lawns and such.

How would you sell a commodity lawn mowing business? It would be more a  matter of showing, than telling. You could charge a little more than average if people liked you, and you did consistent work. Done well, your work would still look like everyone else's work. Over a number of years, the trees and shrubs you were tending would actually tower over some of the other houses, because you were consistent, kept the pH in the soil correct, were proactive about harmful insects, keep the water and fertilizer right, did intelligent pruning at the right times.

Mr. client, my service the real thing. The reason my clients have done better than most is, first of all, I don't believe in half of the junk out there that brokerage firms and other product manufacturers put out there so they can suck off fees and take your money.

Second, we need to clean up the junk you have now, and get it in the right mix of simple indexes: cash, stocks, bonds - plenty of fixed income and cash so you can sleep at night. And we need some things in there to balance your portfolio - like some energy sector indexes, or some basic materials as in inflation hedge. Maybe a little gold in the index.

We need to work together over a long period of time. You have no reason to trust me, trust is earned over time. But we should sit down and look over your brokerage statement, let me educate you a little on what you have and how much you're paying, and give you a few ideas.

Everyone wants to help you manage your money, that's how I get paid. I'm successful and stable and have doing this for a long time, I'm pretty careful about who I take on, just like you want to be careful, and I'd be willing to give you some time at the office when you feel like you want to invest some of your time. If we work together, I know from experience you'll be satisified, because there are certain types of people I won't work with, but if you decide not to change things right away after our meeting, or we're not a good fit, it still will have been a good use of our time, because you'll get some new ideas, and you can let other folks know how I work.