The Definitive Prospecting Thread

apelila wrote: helado wrote: Apelila, Are you a financial advisor?  No Helado. But I was.  My first job in college was in the industry. My roots go way back.

Did everyone hear about us being on a prospecting pause over at ML? I'm sure someone did. But did you also hear about the new cold calling rules?? It's likely that this thread will be outdated in a couple years based on what's happening out here with cold calling. Unless you work for a company that allows you to do whatever you want so long as you bring in business...

mindtech wrote: jrayfinancial wrote: Did everyone hear about us being on a prospecting pause over at ML? I'm sure someone did. But did you also hear about the new cold calling rules?? It's likely that this thread will be outdated in a couple years based on what's happening out here with cold calling. Unless you work for a company that allows you to do whatever you want so long as you bring in business... Otherwise, door knocking is about to be the new old way of getting in front of people. Any Ed Jones people in here? Please, show us your ways and share with us your almighty door knocking powers! LOL What new rules are you referring to? Be more specific.

Sure.

Dude i worked in the PMD program from 2010-2012.  If they had this rule I wouldn't have opened one account.  I honestly would look for another place to work with this rule being forced down your throat.  Sure its the legal and right way to do it but it was honestly always overlooked and laughed about by management.  No one cared who you called, when we got a big merrill client on the phone, we always asked for their advisors name and sent them an email telling them we where cold calling and called your client by mistake, by the way i uncovered this need and they where interested in this product or service.  I told them you would be reaching out to them.  this always went over well and the advisor always thanked us pmd's for the heads up.

mindtech wrote: jrayfinancial wrote: .....But did you also hear about the new cold calling rules?? It's likely that this thread will be outdated in a couple years based on what's happening out here with cold calling....... .   It sounded like you were referring to new cold calling rules the government sets. If these rules apply only to what is happening only at ML (or wherever you are), then no this thread will not outdated in a couple of years. In fact, this thread is over 10 years old and just as relevant today as it's ever been. Look, people tried telling me in 2012 that cold calling doesn't work. As Mark Twain said, "The reports of the death of cold calling are greatly exaggerated"

Fair enough. To your point, I overstated. From talking with some of you and others in the industry, I think you're 100% right. I have nothing against cold calling, personally. 

bc2051 wrote: Once I asked a ML prick how he brought in clients.  He just said "he had the bull behind him" Why don't you just code them that way?  What a joke this is But really you could be running shit off to the side.  They are telling you not to work basically, so just work 4 hrs a day "off the system" and do whatever you have to do on the CRM.  Then if one of them is about to become a client.  Enter them.  The guys that are going to be around in a few years are doing something right now