How many Ponzi schemes are out there?

Its only a handful but with each and everyone being covered on the CNBC does not help the cause.

[quote=egg4019]Its only a handful but with each and everyone being covered on the CNBC does not help the cause. [/quote]

Maybe, it’s because you claim to be some kind of magical trader who claims to make solid returns, like Madoff.

I just joined this site because everyone seemed very helpful. Hank why are you coming out of the gate so strong. I am looking for suggestions not to get a beat down. Its Saturday morning which means cold call time. I already have enough people slamming me, and I sure as hell did not join this site to get more. I was simply wanting to know what I can and cannot say to prospects. Even if I can mention what our current holdings are and the direction we feel the market is heading next week. Again, I am just wanting to know what you can say to prospects. Where does the line get crossed thats all. The point I am trying to get across to prospects is that the obvious buy and hold strategy is not working, and show them ways to potentially increase returns.

People are tired of being told buy and hold.  They want safety and security in their investments.  A LOT of people are putting their money “in the mattress” with the economy the way it is.  I would not be trying to push investments at the moment.  You want to sell someone on yourself and how you run your business.  If you do that, then the client will stay with you during some rough times.  Look up Nick Murray’s, “The Excellent Investment Advisor” and read it.  It tells you all about how to handle people’s emotions.

If you really want to sell something, I would delve into muni’s if you can.  There are some very attractive yields, and people hate paying taxes.  Or you can ask, “did you fund your IRA for 2008 yet?  How do you feel about it’s performance?”  Of course, this is assuming you have all the proper licenses.

Hope that gives you some assistance.  Good luck.

Edit:  Also, stick away from percentage returns.  You want to manage people’s expectations.  If they buy your idea and your 8% drops to -15%, they will not be very happy.  Back to the sell yourself, then the investment.

Thanks a lot for your suggestions and I will do some reading up. We run monthly seminars 4 times per month at an upscale restaraunt and I swear the people that check yes are because they liked us and we gained there trust. The message is strong but when you have prospects with an average age of 65 with a seminar running for 2 hours I highly doubt they were able to soke up all of the information we gave them. I am just having a hard time over the phone (just like everyone else) so I thought by giving them performance numbers and suggestions that they could track before we even meet may help my case a week or two down the road. Then I would call them and see if they were interested in meeting. I know I am putting myself on the line if our recommendations are not performing, however if they are working out then the call to them in a week or two should go over a lot smoother. Again, I am not looking for a quick prospect but if I could win them over with proof in the numbers or even add them to our e-mail list to at least let them know our recommendations. Can I even do this or is this crossing the line?

[quote=egg4019]Thanks a lot for your suggestions and I will do some reading up. We run monthly seminars 4 times per month at an upscale restaraunt and I swear the people that check yes are because they liked us and we gained there trust. The message is strong but when you have prospects with an average age of 65 with a seminar running for 2 hours I highly doubt they were able to soke up all of the information we gave them. I am just having a hard time over the phone (just like everyone else) so I thought by giving them performance numbers and suggestions that they could track before we even meet may help my case a week or two down the road. Then I would call them and see if they were interested in meeting. I know I am putting myself on the line if our recommendations are not performing, however if they are working out then the call to them in a week or two should go over a lot smoother. Again, I am not looking for a quick prospect but if I could win them over with proof in the numbers or even add them to our e-mail list to at least let them know our recommendations. Can I even do this or is this crossing the line? [/quote]

You’re having a hard time on the phone because they weren’t interested in what they heard at the seminar. Think about what I just said, before you get your panties in a wad.

Hank you need to slow down a little bit. We run 4 seminars per month for a reason, and its not because there unsuccessful. On average we have about 60 buying units and about 30% check yes and about 50% of the 30% become clients. I am simply saying that they are willing to come in because we sold them on us, and of course the message is strong but by the second half I could start talking about the weather and they would still have checked yes.

[quote=egg4019]Hank you need to slow down a little bit. We run 4 seminars per month for a reason, and its not because there unsuccessful. On average we have about 60 buying units and about 30% check yes and about 50% of the 30% become clients. I am simply saying that they are willing to come in because we sold them on us, and of course the message is strong but by the second half I could start talking about the weather and they would still have checked yes.[/quote]


I’m confused…your friend has asked you to join, but you haven’t joined yet. Then, you’re doing seminars without being in the business and have people doing business with you? Your story is not adding up.

I am new to the business. I have my 66, and 7 but it has been just over a year since passing the exam. I am sure you would consider this new. The seminar leads are good but not really generated by me. I am trying to increase our growth with additional work and since I do not mind calling on the phone and getting rejected I thought it would be a good way to start. Now I am just trying to use my investments talents to help push the lead over the edge to come in and talk. Once this happens everything is good with a 90% close rate.

I will take this in consideration going forward. Usually the Sr. members are very helpful, this is why I was thrown off right from the start. I am done trying to justify myself to him. It is what it is. I am just looking for suggestions on what I can and cannot say with out bending any kind of rules and regulations.

[quote=egg4019]

I am new to the business. I have my 66, and 7 but it has been just over a year since passing the exam. I am sure you would consider this new. The seminar leads are good but not really generated by me. I am trying to increase our growth with additional work and since I do not mind calling on the phone and getting rejected I thought it would be a good way to start. Now I am just trying to use my investments talents to help push the lead over the edge to come in and talk. Once this happens everything is good with a 90% close rate.

I will entertain you one more time. When we meet with prospects we treat seminar leads, referrals, and call-ins differently. The closing rate could very because they are not qualified after speaking with them. My point was if they were qualified 9 out of 10 time they would close. 

[quote=Hank Moody] [quote=egg4019]

I am new to the business. I have my 66, and 7 but it has been just over a year since passing the exam. I am sure you would consider this new. The seminar leads are good but not really generated by me. I am trying to increase our growth with additional work and since I do not mind calling on the phone and getting rejected I thought it would be a good way to start. Now I am just trying to use my investments talents to help push the lead over the edge to come in and talk. Once this happens everything is good with a 90% close rate.

[quote=Borker Boy][quote=Hank Moody] [quote=egg4019]

I am new to the business. I have my 66, and 7 but it has been just over a year since passing the exam. I am sure you would consider this new. The seminar leads are good but not really generated by me. I am trying to increase our growth with additional work and since I do not mind calling on the phone and getting rejected I thought it would be a good way to start. Now I am just trying to use my investments talents to help push the lead over the edge to come in and talk. Once this happens everything is good with a 90% close rate.

Your initial question was regarding what you can say about client holdings, performance, etc. You also said you had your 7 and 66. Go back and read your 66 book. It’s not just to help you pass a test, it also provides some very insightful legal information. For example, you can use a professional athlete to do a testimonial for your investments as long as he has been inducted into the hall of fame with in the last 2 years and the induction ceremony was held on a Tuesday. That day is key. Seriously though, pitching the way you are, a lot of sophisticated investors are going to think Ponzi. People want a plan nowadays, not a get rich quick scheme. Unless your scheme helps them get rich, and quick too!

Egg
At first, i was going to advise you that it is useless to get into a pissing match wtih Hank. Nobody is better at it then he, and he is a nasty ass negative person who gets his rocks off by tearing other people apart on this board, for some reason that only Sigmund Freud could figure out.
However, as this thread developed, i realized, you are a dolt. You dont know what you are talking about, dont know how to spell, and your facts from one post to the next are completely inconsistent.
I never ever thought i would say this, but in this case, I agree with Hank.
You are a liar and a dolt.

[quote=Sportsfreakbob]Egg
At first, i was going to advise you that it is useless to get into a pissing match wtih Hank. Nobody is better at it then he, and he is a nasty ass negative person who gets his rocks off by tearing other people apart on this board, for some reason that only Sigmund Freud could figure out.
However, as this thread developed, i realized, you are a dolt. You dont know what you are talking about, dont know how to spell, and your facts from one post to the next are completely inconsistent.
I never ever thought i would say this, but in this case, I agree with Hank.
You are a liar and a dolt.

[/quote]


I exchanged a couple of PM’s with egg. He admitted to being dishonest. He’s been in the business for 15+ years.

Nobody on this planet has a better bullshit detector that me. It’s been like that since I was little. If someone here is lying, I will say something about it.