A huge thanks... Maybe a lesson too

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Nov 18, 2011 2:51 pm

So a little about myself...

PSU grad from 2009. Started at MSSB July 2010.

I did the whole training program at MSSB for the 3 months. You learn some interesting things, some usefull things, however they really don't teach you to prospect or to sell. I spent the first quarter or so on prospecting on appointments and financial planning. First lesson, don't do that. It rarely worked and was not an effecient use of my time.

After about 4 months or so I started prospecting on munis. Cha ching. Works like a charm. High net worth people know the advantage of these great investments. From then, it is all a numbers game. My problem was I was a bit too late. Took about a month to get a decent amount of green cherries. At that point I was near my 6th month.

Money started coming in, but I was bellow my boggies. At a year I was let go. Lesson 2, failing just teaches you and motivates you.

I am now at a boutique in Philadelphia. I could not be happier. I'm in a unique program that rotates me around wealth management (planning, manager reaserch, insurance/annuties) for 2 years all while I'm attaining my CFP. At the end of 2 years, I go back into production.

Long story short, I am doing a lot of research on the forum and have seen some amazing advice. I want to thank all of the guys out there that go on here and waste production time just to help the younger guys out here. Bondguy and the others know who they are.

The scripts, schedules, and everything else that you all put out there are priceless and should be incorporated into every firms training program. I just want to say a big thank you and let you know I have created a "bible" for being a broker again filled with all of your info that you all shared with us.

Life will be hard back in production, but will be well worth it. I have a few simple rules I will fowllow:

5 years

Monday - Thursday 7AM-9PM

Friday 7AM-5PM

Sat 12PM-4PM

call call call, pitch munis and other safe and decent yeilding investments

create urgency, qualify ASAP, don't waste time, short calls

If I get them with a muni ticket of about 100K account min, go after the other assets with financial planning once the trust and relationship has been established

Bondguy or any of the respected guys on here... does this sound like a plan? Again thank you all so much for your priceless advice!

Nov 18, 2011 3:49 pm


Congrats.  What is your pitch?  How many dials per day are you doing?  What are your dial ratios in terms of contacts, appts, etc.?  Are you actually selling fixed income over the phone or does the fixed income pitch lead to an appt?  Thanks! 

Nov 18, 2011 4:45 pm

I'm not in production yet. I am still in the rotational program and currently in the Financial Planning Department. I create financial plans for clients and go on meetings with advisors to present the results to the clients. I will be back in production in 1.5 years.

My script I will use:

Plant the Seed

_______ this is __________, CFP at ______________. We're seeing a lot of tax free bonds yielding over __% tax free, in your tax bracket that’s the same as a CD yielding over __%. I have nothing today, could I call you the next time I see one?

Sales Call

_________ it’s _________, CFP again. I know you’re probably extremely busy, so I’ll get right to the point.

As promised I’m calling back with the good news. The tax free bond I told you about is available, but in a limited amount. It’s yielding __%. Would you have any interest in adding it to your portfolio?

No Money

________, with all due respect, you are a___________ at ____________ and I’m sure you have the ability to take advantage of the right opportunity when it’s in front of you because that’s how you got to where you are today! Close 1*

Have a broker

Believe me I understand, many of my best clients felt the same way when we first started. Today, for most of these people I'm their only financial advisor. Where our relationship goes from here is up to you. But let's be honest, if you were totally satisfied with your broker you wouldn't have taken my call. But you did, because you wanted to hear what I had to say. And you wouldn't still be on the phone if you weren't interested in what I'm offering. Your broker isn't offering you this, I am. Close 1*

Close 1*

________, I'm not calling you with our second best idea, I'm calling you with our best idea. A municipal bond yielding ___% which is exactly what you like to invest in. I can give you up to 5000 shares of this deal to get us started together or we can start with just 1000 shares. What level is more comfortable for you? Close 2*

Close 2

______, the shares are depleting as we speak and the opportunity might be sold out by the day’s end. How about we start with the minimum of 1000 shares?

Keep as Prospect or Not

Okay _______. If a similar opportunity comes about in the future, would you like me to give you a call back?