New FA working on a biz plan

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Mar 12, 2007 7:47 pm

First things first. I've been around the industry for nearly 7 years, working primarily in operations and sales support. Now that I've finished college, gotten married and am in as best position as I expect to be, I decided to make the jump to sales. It's something I've felt I would do well in and am eager to begin. I'm fully licensed and am just waiting for the NASD/SEC's 3 month waiting period to end.

Currently I'm going through my firms training program. I anticipated and am in fact having trouble with one portion of the training. I am presently devising my marketing plan, which includes who I plan on focusing on as my "niche market". The exercise the firm has put me up to is the typical stuff, i.e. Think of family/friends/former business colleagues etc etc.

Here is the problem as I see it: I don't really know what my niche will be. I do not come from money. Growing up and through my early 20's I was not surrounded by successful people. Everyone who was around me was an "employee" in the most fundamental way. Most people that were/are apart of my life have zero to negative net worth. I don't mean this as being disrespectful to those people but it is just what the situation is. Furthermore, I'm not in any sort of close contact with successful people outside of the clients I used to service.

So my question is this: With all this being said, what do you suggest my approach should be in completing this exercise? Should I b/s through it? I don't want to but I'm not sure what to say.

My idea entering this program is that I knew it was a Sales position and I while I see the value in having a plan and focusing on a group, I have no problems deviating from that plan and selling to whomever is buying. I guess thats why I find this so difficult is because my niche, my target demographic is whoever wants to work with me. I try to be all things to all people but in this case, it's presenting a problem.

Advice/direction is greatly appreciated. I expect those "special" remarks however unlike some rookies I'll try not to get emotional and angry at you.

Thanks in advance guys (gals?).

Mar 12, 2007 8:17 pm

I'll make this simple, yet effective as you are starting out as I did:

- speak to 100 people a day, primarily business owners and employees from large companies.  Pitch all of them an investment idea that you believe in and go from there.  Ask everyone if they are looking to retire or change jobs in the near future and what the value of their 401k is.  This should keep you busy enough.

Keep us posted-TJ

Mar 12, 2007 8:45 pm

^^^That is what I had in mind. I appreciate the advice. Keep it coming!

Mar 12, 2007 10:45 pm


Advice/direction is greatly appreciated. I expect those “special” remarks however unlike some rookies I’ll try not to get emotional and angry at you.


  You’re going to do just fine…