Looking for a mentor

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Nov 19, 2010 11:40 pm

I've been in the business for over eight years now but NOT always as an advisor, but always in a bank or credit union.  I was enticed into joining an Independent Firm and becoming an Independent Advisor last year (my trails are just starting to kick in).  My AUM were 10 million made up of F/A and M/F. (NOW, I realize this is nothing-but I was ranked highly/above average within the company and decided to go for it) Regardless, it has been a struggle!  I have been able to continue some of my previous client relationships, however, not at all the amout I had hoped for.  I utilize lists to prospect by cold calling and mailings, as well as, asking existing clients for referrals.  I'm just not getting enough people in front of me, (Surprised?!) which was an advantage of being in a bank or credit union.  Honestly, I'm gasping for air and my back office expenses are increasing!!  Now that I have had a taste of the Independent world, I don't want to go back!!  I have a strong desire to succeed and believe that I will get there, if I can hold on.  Sadly, those that had encouraged and enticed me into their firm as an Independent have not provided the direction or support they had promised (again Surprised?!) so I am seeking advice or even a mentor from an established advisor. 

Nov 20, 2010 8:29 am

The best mentors are others in your office. if there are none, that's not bad news. Why?

In the end it is up to you. In fact, it is all you. If you are not getting in front of enough people there is only one person to blame. And, that person isn't the one who promised to help and didn't deliver.

This is contact sport. If your aren't seeing enough people you aren't making enough contacts. It's that plain and it's that simple.

To increase contacts make more calls. Just do it!

Read ricky's post and his script in the prospecting thread.

Buy Bill Good's Prospecting Your Way to Success. This antique book is still the White Paper on how to build an account opening process that delivers every day in every state.

Concentrate on the resources you have not the one you don't.

Nov 20, 2010 5:17 pm

Thanks for your suggestions!!  I will get the book and follow your advice. I do want to say that I was given a GREAT opportunity and I do realize that.  I am greatful for this opportunity, however, disappointed that they didn't deliver ANY guidance. I don't blame them for the degree of my success, I know that is all me and I also know it doesn't happen overnight. 

Greatly appreciate your thoughts!

Nov 22, 2010 9:10 pm

I have Bill Good's Marketing System and actually was trained by him personally (in a group within my old firm).  I'd be willing to part with it for the right price. 

It includes CDs, handouts, booklets, flowcharts, folders with appropriate tabs (which he uses in his system), etc.  The firm paid him $10K for a two-day training session.  Private message me if you're interested.