FMT Solutions - New Member / Vendor |
Post Reply |
Author | |
Guests
Guest Group |
Post Options
Thanks(0)
Posted: Aug/08/2017 at 4:38pm |
Just a heads up everyone, I've invited Greg from FMT Solutions to register here. I'm posting the intro to give a little background on what they did and why I invited him to join, thought he can provide the detailed info. Short version, FMT provides and markets financial education classes to the mass affluent. They provide course materials, targeted marketing in your territory, and the mailers. It's very turnkey and it's somewhat unique. You have to teach the classes in an educational environment (school, college classroom). The attendees have to pay to attend (no plate lickers). They are qualified prospects, etc. Materials are good. System is good. The people are good (classy organization). Full disclosure: I'm not getting anything for posting this, and they are not paying us anything for advertising. There is always talk on here about how to grow. Do you feed people or not? Where do you get lists? Blah, blah, blah. If you have money to spend in order to grow, this is a good way to do it in my opinion, with a good ROI.
|
|
B24
Moderator Joined: Mar/09/2010 Status: Online Points: 25751 |
Post Options
Thanks(0)
|
Fuck that. You chase everyone else off this board, he's not getting a pass.
Plus, he's probably going to fail anyway. -SometimesNowhere |
|
"If Bellicheat pulls that rabbit out of his a$$ with this kid at quarterback, I'll personally kiss his ring." - Sporsfreak, 09/20/16
"Jags/Vikes Super Bowl. Write it down" - Sportsfreak 01/19/18 |
|
Guests
Guest Group |
Post Options
Thanks(0)
|
Shhhh. Some people might actually want to grow their AUM B.
|
|
Macduff
Senior Member Joined: Oct/27/2013 Location: United States Status: Offline Points: 1140 |
Post Options
Thanks(0)
|
I checked this out yesterday after reading this post and it sounds pretty good.
I gave them a call and talked to Dave. The program is pretty interesting. It is more expensive than a typical seminar; the costs to put on the first event will be nearly $12,000. There's a licensing fee of $5400 and then it's around $6500 per event based on their typical 10,000 mailers. Average attendance is between 15 and 35, with 75% of those attending asking for a meeting afterwards and 50% of those asking for a meeting becoming clients. Typical AUM gained is from 2mm to 4mm per event, depending on both the group and how well you close. I'm interested to hear what he has to say; I think it sounds like an interesting program but my biggest question is why I should drop 6k per event here instead of doing another educational seminar with another company for half the initial cost.
|
|
“I was born for the storm, and a calm does not suit me.”
― Andrew Jackson |
|
B24
Moderator Joined: Mar/09/2010 Status: Online Points: 25751 |
Post Options
Thanks(0)
|
I actually had a lot of success when I used to teach classes through a local continuing ed program. I would have kept doing them, but that program shut down. I tried another location, but I got mostly lower income people that were in debt trouble. I bagged it after the first year. If I could find the right location/program, I would do it again.
|
|
"If Bellicheat pulls that rabbit out of his a$$ with this kid at quarterback, I'll personally kiss his ring." - Sporsfreak, 09/20/16
"Jags/Vikes Super Bowl. Write it down" - Sportsfreak 01/19/18 |
|
Guests
Guest Group |
Post Options
Thanks(0)
|
My issue would be getting 10k qualified people in my area. RME came up with less than 5k until I stretched the distance and lowered the minimums. You might give them a look too, but this sounds good.
Helado - you did this? What was your results? |
|
RipRock
Senior Member Joined: Oct/29/2013 Status: Offline Points: 1807 |
Post Options
Thanks(0)
|
Full Disclosure - I have used them for 9 years.
|
|
Best In Class
Rookie Joined: Aug/08/2017 Location: Portland, OR Status: Offline Points: 7 |
Post Options
Thanks(0)
|
B24, we should run a check of your area to see how viable it is. Lead density/availability/venues... Shoot me an email and I'd be happy to run an analysis for you.
|
|
Best In Class
Rookie Joined: Aug/08/2017 Location: Portland, OR Status: Offline Points: 7 |
Post Options
Thanks(0)
|
Macduff, thank you for reaching out! Dave let me know that he spoke to you, that's awesome. The problem with doing educational seminars is the typically high turnout but low conversion rates. This is a symptom of ineffective pre-qualification. We lean heavy on the pre-qualification side, instead of trying to entice as many people as possible to come to our events, we focus on getting the right people there for the right reasons. Would be happy to have Dave elaborate more on why we do things counter to every other form of marketing you're considering and why our system produces such high conversion rates.
|
|
Best In Class
Rookie Joined: Aug/08/2017 Location: Portland, OR Status: Offline Points: 7 |
Post Options
Thanks(0)
|
RipRock! Happy to have you as a client! Thanks for your business.
|
|
Best In Class
Rookie Joined: Aug/08/2017 Location: Portland, OR Status: Offline Points: 7 |
Post Options
Thanks(0)
|
Thanks for allowing me to be part of the discussion!! We had a Wealth Management journalist show up to one of our events and interview the instructor and students. Here's the link in case anyone wants to read it: http://www.wealthmanagement.com/college-planning/finding-new-clients-campus
|
|
SometimesNowhere
Gold Member Joined: Mar/11/2010 Status: Offline Points: 13989 |
Post Options
Thanks(0)
|
^^^^^^^^^^^^ |
|
luvindy
Moderator Joined: May/17/2010 Status: Online Points: 25770 |
Post Options
Thanks(0)
|
Mr. Best,
Do you do anal? Love, helado |
|
8/31/12,Sportsfreak:
"If Barak wins this election, or appears to be clearly winning, we are all fucked. Market will tank big time." Dow 13,090 S&P 1406 5/23/13 UC:Dow 20k before 20% crrectn Dow 15, |
|
Chief
Gold Member Joined: Mar/12/2010 Status: Offline Points: 16265 |
Post Options
Thanks(0)
|
I will chime in on fmt being a former user myself.
I think the idea is good, their execution can be lacking and unless you have 3-4 areas you can cycle through the attendance numbers die of pretty fast. *In all fairness I started with the previous owners and cancelled under the current owners. |
|
"You like winning don't you?" "Saves you from having to say the word please."
Good point Chief. Iceco1d 10/30/12 |
|
Post Reply | |
Tweet |
Forum Jump | Forum Permissions You cannot post new topics in this forum You cannot reply to topics in this forum You cannot delete your posts in this forum You cannot edit your posts in this forum You cannot create polls in this forum You cannot vote in polls in this forum |