Thanks everyone!  What are the “acceptable” hours for cold calling/cold walking?

For example:  9am-7pm?  I don't want to waist valuable cold calling time doing research or other office work. Any suggestions?

Wholesalers are good for a free lunch, but not much else. Sometimes they can be useful in putting together seminars too, but proceed with caution there.

  Basically, just GET IN FRONT OF PEOPLE, be confident, LISTEN to what they want, and you'll be fine.   ...and don't spend any time shooting the sh*t with other new brokers. They are not your buddies.   If you find some older advisors that have "been there, done that" take 'em to lunch and pick their brains you'll learn more in one hour than you will in 6 months of "training" at a wire.  (buy 'em drinks)   Use your BOM to get you through compliance hurdles, but don't buy into his theory that it makes sense to be on a team, or use more experienced brokers to close business. It doesn't.   Good luck to you.    

[quote=The Duke]

This is my second post, although I’ve been following this forum for quite some time and it seems to be very informative.



I’m a new financial advisor “in training” fresh off a Pre-Medical degree from University, and I’m in my mid twenties. Despite having alot of sales experience, it really wasn’t anything related to the financial industry. Obviously, it looks as though I am inexperienced and I can go through with an explaination of my “work ethic” and “determination”… but negating these details, can someone shed some light on how potential clients will respond to a younger advisor’s attempt to secure business.



Thanks in advance!

[/quote]



I was 21 when I started and am now 35.



In my findings, I got nowhere with the “parent age” type as they viewed me too much as “their kid” who was usually a screw up and they certainly would not trust THEM with their money. age 45-60



60-75 will be your sweet spot. They view things in the “grandparent” perspective and will be far less reluctant to work with you. Nearly all of my original clients were in this range, most being retirees wtih rollovers from several local companies.



Don’t waste your time with institutions.



Good luck! Despite this year, this is a great business. I was told: work 10 years like no one is willing, live the rest of your life like no one is able…this is 100% true, I promise you.

In my previous experience dealing with older clients, I've found that less energy, less talking, and more composure helps a lot. I have natural soft voice, and mellow personality. And I do not like to talk too much as I've been taught that people that talk too much have something to hide. Instead I listen and answer questions in intelligent and BRIEF manner. Dont' get startled by anything they say, but just be calm about everything you do. It helps.

From my experience, even though I'm in my 20's, I have horrible time with clients in 20s and 30s, as I can't keep up with energy levels and pace of conversation, especially if the clients are business owners/sales people/alpha male type. Clients in 40s and 50s love me because I let them do all the talking and let them think they're the boss until they start asking questions. Then I take charge and that's when I try to close. I don't have much experience with clients over 60s as my previous experience dealt with still working professionals, not retirees.   Simply, from my experience: early 20s: they don't give a crap. late 20s-30s: they need someone that's knowledgeable to guide them and be a mentor to them. They probably have the energy to get involved and they probably do want to be involved. 40s-50s: they need someone that can make them feel respected. Good analogy is they're the CEO of the company and you're the CFO. Even though they're your superior, they need your expertise and hire you to do the work for them. Eventually, if you're good, then they can't live without you. They don't have the energy to get involved, but instead rely on hired guns to do the job. 60s: I have no clue. I'm guessing be upfront and honest with them as they're probably infinitely more wiser than you are through their knowledge and real world experience. If you can make them feel like they're helping you, as if they would help their grand kid, that would help.