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Do you need to be good at sales?

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shnooby2 View Drop Down
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    Posted: May/02/2021 at 5:46pm
I want to be a financial advisor, but I am not good at "sales". I am good at building business relationships.  Ironically, my current roles is the general sales manager of an industrial supplier and I operate the most successful store in my region.  I took over the store back in 2008 and have slowly built it up to what it is today.  I do alright, make about $100,000 a year, but that is about the most I can make at the company I work for without relocating, which I do not want to do.  I'm 33, have zero debt (house paid off as well), so I could realistically live off much less, which I anticipate I would have to starting as a financial advisor.  Back in 2019, I applied at Edward Jones, made it to the "day in the life assessment" and failed miserably.  I am not good at cold calling.  99% of my sales at my current job come from referrals.  Do you think I could possibly make it in this job?  Also, I live in Canada, if that makes any difference
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Iamlegend View Drop Down
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You need to be good at building trust quickly. 
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Moraen View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Moraen Quote  Post ReplyReply Direct Link To This Post Posted: May/03/2021 at 6:39am
Originally posted by shnooby2 shnooby2 wrote:

I want to be a financial advisor, but I am not good at "sales". I am good at building business relationships.  Ironically, my current roles is the general sales manager of an industrial supplier and I operate the most successful store in my region.  I took over the store back in 2008 and have slowly built it up to what it is today.  I do alright, make about $100,000 a year, but that is about the most I can make at the company I work for without relocating, which I do not want to do.  I'm 33, have zero debt (house paid off as well), so I could realistically live off much less, which I anticipate I would have to starting as a financial advisor.  Back in 2019, I applied at Edward Jones, made it to the "day in the life assessment" and failed miserably.  I am not good at cold calling.  99% of my sales at my current job come from referrals.  Do you think I could possibly make it in this job?  Also, I live in Canada, if that makes any difference

You need to be good at sales. Shift your mindset. You weren't good at cold calling because you thought about what it was like on the other end of the phone. Shift your empathy to trying to understand that person's life. Think of it as them needing you. 

Get through the bs at Jones and then work by referral. No one cares how you build it - just build it.

Alternatively, you could look into becoming a bank advisor.
I come in peace. I didn’t bring artillery. But I’m pleading with you, with tears in my eyes: If you fuck with me, I’ll kill you all. - General James Mattis

Fiduciary as Fuck - iMo
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helado View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote helado Quote  Post ReplyReply Direct Link To This Post Posted: May/03/2021 at 4:34pm
Yes you have to be good at sales.  That doesn't have to sound dirty.

You are probably good at marketing and relationship management, based on your description of your current job.

But that's not sales.
My posts are for abrasive entertainment only. Nothing posted is investment, legal, tax or any type of advice, nor is anything mentioned true or even based on real events. Posts are complete fiction.
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mindtech View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote mindtech Quote  Post ReplyReply Direct Link To This Post Posted: May/06/2021 at 9:29am
Originally posted by shnooby2 shnooby2 wrote:

I want to be a financial advisor, but I am not good at "sales". I am good at building business relationships.  Ironically, my current roles is the general sales manager of an industrial supplier and I operate the most successful store in my region.  I took over the store back in 2008 and have slowly built it up to what it is today.  I do alright, make about $100,000 a year, but that is about the most I can make at the company I work for without relocating, which I do not want to do.  I'm 33, have zero debt (house paid off as well), so I could realistically live off much less, which I anticipate I would have to starting as a financial advisor.  Back in 2019, I applied at Edward Jones, made it to the "day in the life assessment" and failed miserably.  I am not good at cold calling.  99% of my sales at my current job come from referrals.  Do you think I could possibly make it in this job?  Also, I live in Canada, if that makes any difference


I'm a former Jones guy in Canada. I'll put it to you straight.

If you failed Day in the Life Assessment then you're fucked. Jones will never look at you again. That's what Day in the Life is about. To figure out if you're a hustler or if you're a piker. They know which of the two you are.

Keep in mind that no one will ever drive by your "investment office" to make an RRSP deposit. No one! So if you're not calling on people, you won't make any money.

So if you're not good at cold calling, then stick to your $100k a year job and never come back to this forum. You'll be doing yourself a favour. Clap
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RipRock View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote RipRock Quote  Post ReplyReply Direct Link To This Post Posted: May/06/2021 at 10:47am
Start in a bank, that's your best shot.
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mseni1 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote mseni1 Quote  Post ReplyReply Direct Link To This Post Posted: May/18/2021 at 11:31pm
Read the book "GO Giver"....best advice I could give you starting now in the industry. 

And don't start your career at Ed Jones..


Edited by mseni1 - May/18/2021 at 11:33pm
-mseni

"A good matador doesn't try and kill a fresh bull. You wait until he's been stuck a few times."
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mindtech View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote mindtech Quote  Post ReplyReply Direct Link To This Post Posted: May/20/2021 at 12:17pm
Originally posted by mseni1 mseni1 wrote:

And don't start your career at Ed Jones..


Don't end your career their either
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Post Options Post Options   Thanks (0) Thanks(0)   Quote HCCWManager Quote  Post ReplyReply Direct Link To This Post Posted: Jul/14/2021 at 1:53pm
If you failed the DITL you just have to wait a year before reapplying. Jones has a 0 scratch starter policy that just rolled out formally for career changers. If you can make it through the hiring process, work your network and you will take over assets out the gate likely an office as well down the road. Good base salary and the training works.
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