http://forums.registeredrep.com/forum_topics.asp?FID=5

Try looking in the Prospecting forum!

do a good job with your current clients and ask for referrals.  Referrals=warmest call ever. End every meeting with “if you know of anyone else who needs help with their investment planning, just let me know”.

What are your approaches when calling on a refferal?  My favorite technique is to invite them to lunch or golf with the client and myself, but I just got a half dozen referrals from a client and am not sure I want to take them all to lunch or golf.  (i.e. not sure they are good enough referrals to spend that much time and money on.) 

[quote=gad12]What are your approaches when calling on a refferal?  My favorite technique is to invite them to lunch or golf with the client and myself, but I just got a half dozen referrals from a client and am not sure I want to take them all to lunch or golf.  (i.e. not sure they are good enough referrals to spend that much time and money on.)  [/quote]

If you get one good referral out of five he will pay for the other four lunches and then some…for what it’s worth.  You should be able to get a good idea in a phone call or two who might be worth taking out to eat.

So how do you approach that first call?  Previously I just call and say we’re golfing or going to lunch want to come along?  Piece of cake.  I’m trying to picture the approach without that crutch.   

Personally I wouldn’t want to go to lunch with my broker, if I had one. So, would it be better to simply send a gift card to a local restaurant or something? I mean, that sounds tacky, but it would seem weird to me to have someone sit down and bring you out to lunch. Free lunch is welcome, but maybe not their company.

[quote=awesome]Personally I wouldn't want to go to lunch with my broker, if I had one. So, would it be better to simply send a gift card to a local restaurant or something? I mean, that sounds tacky, but it would seem weird to me to have someone sit down and bring you out to lunch. Free lunch is welcome, but maybe not their company.[/quote]

Awesome,

????In general, clients value the opinion on their broker and/or clients like their broker...otherwise they would not (or should not) be utilizing that broker. Giving them a giftcard eliminates doing lunch....getting to know your client.  Its called networking.

[quote=awesome]Personally I wouldn't want to go to lunch with my broker, if I had one. So, would it be better to simply send a gift card to a local restaurant or something? I mean, that sounds tacky, but it would seem weird to me to have someone sit down and bring you out to lunch. Free lunch is welcome, but maybe not their company.[/quote]

You are not a business person, right? I ask that because your post strikes me as particularly clueless. Just so we're all on the same page, the purpose of the lunch is not to feed them a free meal. The purpose is to meet them and talk to them. The purpose of talking to them is to explore the possibilities of a business relationship. The free lunch is a professional, low obligation, low cost way of paying the referal for their time. There is nothing tacky about it. It's a straight forward business meeting.

[quote=awesome]Personally I wouldn't want to go to lunch with my broker, if I had one. So, would it be better to simply send a gift card to a local restaurant or something? I mean, that sounds tacky, but it would seem weird to me to have someone sit down and bring you out to lunch. Free lunch is welcome, but maybe not their company.[/quote]

Clients and prospects in general LOVE going to lunch with their advisors.  (At least that is my experience.)  What are you talking about?  You are probably in the mindset of a person with a 20k account.  HNW people want serious contact, not just a phone call to sell them a bond.

"Clients and prospects in general LOVE going to lunch with their advisors.  (At least that is my experience.)  What are you talking about?  You are probably in the mindset of a person with a 20k account.  HNW people want serious contact, not just a phone call to sell them a bond."

AGREED.....

[quote=awesome]Personally I wouldn't want to go to lunch with my broker, if I had one. So, would it be better to simply send a gift card to a local restaurant or something? I mean, that sounds tacky, but it would seem weird to me to have someone sit down and bring you out to lunch. Free lunch is welcome, but maybe not their company.[/quote]

Talk to Chuck.

Real money takes real time, loves to spend time with their advisor, and loves free meals.

[quote=gad12]So how do you approach that first call?  Previously I
just call and say we’re golfing or going to lunch want
to come along?  Piece of cake.  I’m trying to picture the
approach without that crutch.   [/quote]



I wouldn’t propose golfing since thats too much a time comittment and
alot of people don’t golf. Myself, I think negatively of people who
golf, since its a waste of time and land.



Lunch/Coffee is much better try.

[quote=BondGuy]

[quote=awesome]Personally I wouldn't want to go to lunch with my broker, if I had one. So, would it be better to simply send a gift card to a local restaurant or something? I mean, that sounds tacky, but it would seem weird to me to have someone sit down and bring you out to lunch. Free lunch is welcome, but maybe not their company.[/quote]

You are not a business person, right? I ask that because your post strikes me as particularly clueless. Just so we're all on the same page, the purpose of the lunch is not to feed them a free meal. The purpose is to meet them and talk to them. The purpose of talking to them is to explore the possibilities of a business relationship. The free lunch is a professional, low obligation, low cost way of paying the referal for their time. There is nothing tacky about it. It's a straight forward business meeting.

[/quote]

Exactly

Change of venue to a non-threatening environment to foster and advance a relationship, in hopes, to the point they will pay you for your services.  Doesn't matter the industry, works the same.

Golf does the same thing, familiar territory(venue) for all parties to start and advance new relationships and to strengthen and foster existing relationships.  But golf also adds the competitive variable which releases Testosterone in men and makes them feel more confident to conduct business.  But we won't go there.