Merrill's 100 people list

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Sep 8, 2006 4:20 pm

I had good test results, so now they want me gather a list of 100 people, with names, phone numbers, possible investment and relationship. Can anyone throw some tips out there to help with this list. I can think of many friends, I really want to avoid family. If anyone knows any tips to gather this list or and tips in the process, that would be very helpful. Thank you.

Sep 8, 2006 4:43 pm

Don't put Brad Pitt on your list, everybody puts him on the list--usually down around thirteenth--as some sort of subliminal deal.

Sort of like flashing "Popcorn" on the movie screen so fast your can't really see it.

Sep 8, 2006 5:20 pm

Put down everyone you know from any clubs, organizations and business relationships.  If you even slightly know the owner of a business put them down as a possible retirement plan prospect and for personal investments.  Any teachers you know as 403B prospects.   People you know who have jobs and may be close to retirement as roll over IRAs.  Young people with children for college planning.  The mechanic at your garage as an IRA prospect.  The retired lady down the street as a prospect for fixed income investments. So on and so on.

Do they want you to detail exactly what investment or just a general idea?  So they want you to put down how much the investment could be or just a general idea?

I have never worked at Merrill but I am guessing that they want you to be able to mentally scan through your acquaintances and through prospects you meet and be able to immediately come up with several business/investment opportunities that you can approach them with.  After you are in this business for a while, you will look at everyone you meet and size them up for just what approach and what investment would generate their interest and make them want to do business with you. 

Sep 8, 2006 5:55 pm

Babs… Good advice…

Sep 8, 2006 8:43 pm

That’s true.  I size everyone up now.  They start to pick my brain and I say the right things to get them curious enough to see me at my office.  I invite everyone in my niche market onto my electronic newsletter.  I get a 70% of my calls turn into appointments.  50% of appointments into clients.  100% of my clients into cash value life insurance cause they love it!

Sep 8, 2006 10:20 pm

Thanks for all the responses. If anyone else has anything to add that would be great. So far I have 30, need 70 more, due Thursday. I will be back if I have anymore questions. I just can not say how much help this forum has been. Thank you and have a nice day.

Sep 8, 2006 10:32 pm


Get out the yellow pages and look at each heading and ask yourself..."Who do I know that is a _______ or who works for a ______?" 

You will have your 70 in no time.

Sep 9, 2006 12:37 am

[quote=choida]Thanks for all the responses. If anyone else has anything to add that would be great. So far I have 30, need 70 more, due Thursday. I will be back if I have anymore questions. I just can not say how much help this forum has been. Thank you and have a nice day.[/quote]

I used to not understand why these big companies want us to churn our friends and family...but now it is more clear why.  It works in favor of the company if you fail, they at least acquire some of your accounts.  This biz is about relationship and building many of them.  You don't have to pay for leads, advertise, etc...  Your connections with others is gold.

Sep 9, 2006 12:17 pm

Nice advice guys. Now I am up to 60. Anymore help would be much appreciated. Anyone know much about Merrill? What the next step will be? What are they goint to do with the list I create, what are they going to talk to me about when I bring it in? Thank you.

Sep 9, 2006 1:36 pm

"Nice advice guys. Now I am up to 60. Anymore help would be much appreciated. Anyone know much about Merrill? What the next step will be? What are they goint to do with the list I create, what are they going to talk to me about when I bring it in? Thank you."

Merrill is the enemy. Stay away. They will chew you up, work you to death, then spit you out. They are merciless, cutthroat, and not to be crossed.

They will ask for your list, tell you to go interview with some sales manager, then give your list to their best cold caller in the office. He will have great success qualifying your leads, then invite your prospects in for coffee and a chat. Your leads will leave the office and get on the elevator holding new account forms, and the FA will be inputting their ACAT forms.

When you are done with your interview, ML will kindly tell you that they will get back to you. You will walk out confidently thinking you got the position... They will never call you back...

Sep 9, 2006 2:04 pm

Can anyone else justify what blarnston said about Merrill? Is this true, I will just be taken for a ride. I sincerely felt the branch manager was being upfront with me. Are they just going to take my list and broom me aside? If this is so, why should I even bother going to meet up with him again.? I hope this is not true.

Sep 9, 2006 2:57 pm

Choida… Get your bull$hit radar up. I was just messing with you.

Sep 9, 2006 3:32 pm

Well my bs radar may not be good, but i bet 99/100 rookies would have felt for it. I mean, I still believe what you said earlier. It maybe something that may happen. Who knows? You mentioned it for a reason, so it has a possibility of being true. I just don’t want to taken for a ride. They can have my list, just wanna avoid wasting time and effort.

Sep 9, 2006 7:34 pm

Keep your list with you, show it to him, but keep it with you,

Thats what I would do. I have often heard that ML managers don’t hire
you unless you have some people to pull from. This is why it is often
hard for new guys fresh out of college to get hired, and even make it.
I would have as many contacts on the list as possible. Hopefully you
know some pretty good contacts b/c if you don’t its going to be a 
tougher route. I’ve had a list for 2 yrs now and everyone on there I
know for a fact has at least 250k in investable assests if not 500k or
a couple million. Are all those people going to invest with me when I
get hired on somewhere, no, but some will. And that will be a d— good
start. I would play the numbers, at least one of your people out of 20
should do business, so I would get as many contacts as possible. Start
going to after hours functions, chamber of commerce, clubs,
organizations, think of it like your a politician. Shake hands and kiss
babies, your their financial advisor baby, whether they know it or not.

Sep 9, 2006 7:41 pm


I haven’t heard of anything about what Blarm said,

but, it is common practice if a rookie fails they take his assests and

disperse it around. That means you have to make it, no matter what. Its
not a 40hr a week job, its 70+ hr week and you work your a-- off for a
few years. Then you pretty much work off refferals and just manage
money, the hunter will become the hunted, that is the goal, people you
couldn’t even talk too a few yrs earlier will be coming to you. If you
do well, but if you don’t you will be another failed broker. I would
start listening to self motivational cds, like Paul Tracy, Tony
Robbins, etc. That stuff works, get yourself in the right mind-frame.
Then you will do it.

Sep 10, 2006 4:04 pm

Another piece of advice I would give you is exceed what is expected of you, in all things.

Don't turn in 100 names, but rather, turn in 200 names plus a list of business owners in the area. (You might have to purchase a list. Is the job worth this expense? You decide.)

If the interviewer asks for a 6-month business plan, turn in a 12-24 month business plan. Even better, if you want to really impress him/her with something they rarely see, turn in a business plan on how you plan to market yourself during training (before licensing). Can't market yourself until after licensing? No problem. Become a "Goodwill Ambassador" for the Chamber of Commerce during your training period. This will allow you to go out and meet Chamber members (read: Business Owners - a.k.a.- prospective clients). Why do this pre-licensing? So, you'll have a leg-up on gathering assets when you get licensed. Do the math: (Assuming 26 business days/month [Mon-Sat], 2-month pre-license period, 25 face-to-face contacts per day equals 1300 prospects you've personally met by the time your first day to sell has arrived. (Take copious notes after each meeting!!)

When will you study for the 7? In the early morning and at night.

Of course, passing the 7 is the priority and if you're having trouble with the practice exams, scale back marketing yourself and ramp-up study time.

But trust me on this, if you can manage to have met with 1000-1300 business owners by day one, your start as a licensed trainee will be much easier.

Remember, to get this job and to keep this job, exceed what is asked of you.

Sep 10, 2006 5:57 pm

Dobs… Great post…

Sep 11, 2006 3:28 am

thanks for the post guys. i think the next three days I will go knocking on businesses doors and introducing myself, and writing their information down. Screw 100, i will make sure there is at least 150 on that list. thanks for the motivation. if there are any more posters who want to contribute, please feel free. I LOVE THIS BOARD. thanks


Sep 11, 2006 7:00 am

Learn to capitalize the first letter of a sentence.

Coming in with a list of names indicating that you cold walked a few streets, while meaningful, does not reflect a strong network so much as a willingness to cold walk in an attempt to get the job.

That's good, it shows a certain ambition--but the reality is that lots of young kids have ambition.  But think of what the manager is going to think when you show him/her a list that reads, "Mr. John Jones, Main Street Cleaners, 123 Main Street, 234-0987" then "Mr. Mike Smith, Main Street AlphaGraphics, 127 Main Street, 234-8710" then "Mr. Bob Norton, Norton's Florist, 131 Main Street, 234-9192" and so forth.

A brutal reality of the bring a list drill is to get the young person to realize how few people they know and to dissuade them without discouraging him.

I think the mere fact that Choida did not realize that his/her chain was being pulled indicates immaturity.  This is a business that eats the immature as an appetizer.

Choida--go build your network by selling insurance.  The fact that you had to ask how to get 100 names on a rough draft of a prospect list is PROOF that you're going to be pissing into the wind and why would you want to do that?

Sep 11, 2006 11:29 am

For the experience NASD Newbie. That is why I would want to piss in the wind. Even pissing in the wind takes talent, and I think it is worth a shot in my case. I think it doesn’t hard to give it a shot, and considering I will be faced by tons of people by trying to “dissaude” me. That alone is pure motivation for me to build upon. I am still going to turn in this list, and want to see how far I can get.