Marketing plan

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Jun 24, 2006 11:02 pm

Does anyone have any tips? I am looking for ideas on how my target market is going to change from one year from now then two years from now.??

How should I phrase in my Marketing Plan that one of my family members wants to transfer a seven figure account once I get hired?

Jun 24, 2006 11:51 pm

How should I phrase in my Marketing Plan that one of my family members wants to transfer a seven figure account once I get hired?

Just my $.02, but I'd leave that OUT of any marketing plan I would submit.

Jun 25, 2006 8:50 am


How should I phrase in my Marketing Plan that one of my family members wants to transfer a seven figure account once I get hired?

Just my $.02, but I'd leave that OUT of any marketing plan I would submit.


I'd go even farther, or is it further.  Not only would I not make it part of a job interview--I wouldn't make it part of my first year plan at all.

Very often young people figure that their family is going to automatically open an account once they get registered--that doesn't necessarily happen.  You must remember that your family, more than anybody else, knows you're new at the game and it's not normal to trust the new kid, especially if they're your kid.

Additionally, the size of account that is simply being estimated is often inflated.  Not intentionally, it's just that an awful lot of people are living way above their means.

There is a lesson at the other end of the spectrum too.  If you come from an average, or typical, American family you probably do not have a real appreciation for how much money a lot of people actually have.

The idea of "The Millionaire Next Door" is exceptionally valid.  Years ago a client told me, "If you think it's good enough for me to buy 100 shares why ask me to buy 1,000."

So I did.

He responded, "I like the case you made for it, buy me 10,000 shares at the market."  I had no idea--he drove a ten year old car and a clothes that were out of style.

Jun 25, 2006 10:08 pm

NoBrakes -

My two cents here..   What I would recommend is to definitely include it in your marketing plan, but not until late in your first year.

For example, in your first two quarters, you project to raise 2 million in assets, but by the end of quarter 3 you project to have a total of 5 Million (or whatever the value is that your family has).

This serves two purposes.  Number one, it gets the manager to ask why you think it would double in the third quarter and that is when you can tell him that you have a wealthy family account that would most likely want you to get established before they give over their account to you.  Number two, it allows you a tactful way to introduce your family's wealth without coming across as bragadicio.

Good luck!  

Jun 25, 2006 10:41 pm

RA, we'll just have to agree to disagree on this one.

What happens, for example, if the account doesn't come through?  NOBRAKES would have some serious egg on his face.  Better, in my opinion, to promise average then deliver above average.

Jun 26, 2006 11:54 pm


I guess it depends on the company you are trying to get on board with.  If it's a difficult company to get hired with, I say use any advantage that you can to get hired.  If, on the other hand, it's Ameriprize or something similar, heck, they're lucky to have you and therefore I wouldn't bother to over-promise.

Jun 28, 2006 12:30 am

I need some help with this !?!   I really like the company I am interviewing with and I want to be offerred the job but I am not sure if my marketing plan sucks or not. I dont wanna sumbit something that makes me the look like a fool.

Well heres a question I got for you guys, lets say 100% I can have 5-8 million in one year thats just from people in my family and friends. How do I word this into my marketing plan and how do write it?  I feel like this is going to be a disaster.! help please!!

Jun 28, 2006 1:04 pm


First, your plan should never center just on monies invested by friends and family.  A good manager will be thinking "Okay.  That's a start.  Then what will you do?".  A bad manager will be thinking "Good.  This kid will bring in $5-8M then leave when he can't find more.  I'll inherit his accounts!"

You can mention friends and family as one or more "Quick win opportunities", but it should not be the center of your marketing plan.

A good manager will be more interested in friends and family as referral sources.  Beyond the assets in your family, tell the manager WHO THEY ARE and WHO THEY KNOW.  The hiring managers at top firms want to see a steady stream of opportunities beyond the quick wins.  If your uncle has $1M in assets, then he can help you make your quota for one or two months.  If your uncle is the head of ZYX surgery for ABC hospital, then he can introduce you to people that will help you make quota every month for years to come.

Finally, although many successful brokers build their practices on 100% networking, you should not assume that's sufficient for your marketing plan.  Be sure to include opportunities to use other marketing techniques IN ADDITION TO your friends and family network.