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New Member - Wirehouse CFP

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benjammin237 View Drop Down
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    Posted: Aug/02/2017 at 10:14pm
I'm new, want to get some prospecting tips and feedback.

I'm a wirehouse advisor in a midwest metro area. Fully licensed with CFP. Been in the business 4 years, an advisor the last 2. I work on a team. I have a small equity share in the business and I lead all the financial planning, but I want to get more money.

I've been taught to market to COI's. I've had success there, in addition to joining social groups (clubs, politics, etc.) and am on committees/boards. I've had other success doing prospecting on linkedin, mainly as lead generation and begininning a relationship.

What I want to learn more on is direct marketing and bringing in the team to close deals to grow faster with me. Obviously I use my own discretion on bringing the team in on deals, but I want to grow faster.
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bc2051 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote bc2051 Quote  Post ReplyReply Direct Link To This Post Posted: Aug/02/2017 at 10:26pm
Welcome.  What's a good year for you asset wise?  I'd like to hear more about how you used linkedin
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Iamlegend View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Iamlegend Quote  Post ReplyReply Direct Link To This Post Posted: Aug/02/2017 at 10:28pm
What do you mean you have a small equity position in the team considering you are in the employee channel?
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benjammin237 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote benjammin237 Quote  Post ReplyReply Direct Link To This Post Posted: Aug/02/2017 at 11:38pm
good year for me is 5M on my own. Our team has done 30M ths year, I've contributed 1M to that.

Year 1 was 3.5M for me.

On LinkedIn I use premium, "flirt" by visiting profiles then call/email. I try to go more targeted vs a blanket approach.
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benjammin237 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote benjammin237 Quote  Post ReplyReply Direct Link To This Post Posted: Aug/02/2017 at 11:41pm
I'm on the last portion of my salary, it is done in 2 months, so not an employee.

What I mean by small equity portion is I have small splits (2%) on legacy business, while new team business I participate more with my other team members (5%).

If I bring in an account, I get 80%, 2 other advisors split the remaining 20%.
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SometimesNowhere View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote SometimesNowhere Quote  Post ReplyReply Direct Link To This Post Posted: Aug/03/2017 at 7:00am
Originally posted by benjammin237 benjammin237 wrote:

I'm new, want to get some prospecting tips and feedback.

I'm a wirehouse advisor in a midwest metro area. Fully licensed with CFP. Been in the business 4 years, an advisor the last 2. I work on a team. I have a small equity share in the business and I lead all the financial planning, but I want to get more money.

I've been taught to market to COI's. I've had success there, in addition to joining social groups (clubs, politics, etc.) and am on committees/boards. I've had other success doing prospecting on linkedin, mainly as lead generation and begininning a relationship.

What I want to learn more on is direct marketing and bringing in the team to close deals to grow faster with me. Obviously I use my own discretion on bringing the team in on deals, but I want to grow faster.


The best advice you can get is this: you're not cut out for this. Get your resume ready.
I sort of give a fuck.
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PEACH_cm View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote PEACH_cm Quote  Post ReplyReply Direct Link To This Post Posted: Aug/03/2017 at 7:05am
Sounds like you are getting the shaft.
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Iamlegend View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Iamlegend Quote  Post ReplyReply Direct Link To This Post Posted: Aug/03/2017 at 8:52am
Originally posted by benjammin237 benjammin237 wrote:

I'm on the last portion of my salary, it is done in 2 months, so not an employee.

What I mean by small equity portion is I have small splits (2%) on legacy business, while new team business I participate more with my other team members (5%).

If I bring in an account, I get 80%, 2 other advisors split the remaining 20%.

You are an employee.
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apac707 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote apac707 Quote  Post ReplyReply Direct Link To This Post Posted: Aug/03/2017 at 8:58am
can i ask how big your team is? how much production they do? 
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