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datboiwaynes ![]() Rookie ![]() ![]() Joined: Oct/23/2023 Status: Offline Points: 5 |
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Hey everybody I'm a 22-year-old fresh off the boat. Just started at an independent RIA firm about a month ago. My dad was a 31 year veteran at EDJ and retired as a GP so I have quite the legacy to live up to haha. Some of you guys in this thread have made me laugh to no end the past few days I've been reading it by the way so thanks. Right now I'm exclusively prospecting and my dad just keeps telling me to "keep knocking on more doors" even though I haven't really been trained on it and feel uncomfortable with it. My firm also doesn't push it on me but I feel like it's more effective than cold calling at least.
For prospecting I have a few different avenues, but if something has worked better for any of you please let me know because I've found it difficult for people thrice my age to take me seriously when discussing my job. Here are my prospecting ideas: 1. Door knocking 2. Being involved at a church 3. Country Club Membership 4. Rotary Club 5. Introducing myself to small businesses in my area in person 6. Volunteering in my local community 7. Being involved in the Chamber of Commerce I don't have many digital marketing ideas but I feel extremely comfortable with the thought of it because of my age and knowledge within the online sphere.
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luvindy ![]() Moderator ![]() ![]() Joined: May/17/2010 Status: Offline Points: 25198 |
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In first!
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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, |
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DucatiSportGT ![]() Gold Member ![]() ![]() Joined: Jul/16/2013 Status: Offline Points: 13769 |
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I'll be the jagoff. 1. Door knocking - Yes. 2. Being involved at a church - Good for you. 3. Country Club Membership - Must be nice being the rich kid. 4. Rotary Club - Ok maybe. 5. Introducing myself to small businesses in my area in person - Yes. 6. Volunteering in my local community - Yeah right. 7. Being involved in the Chamber of Commerce - Lol Lastly. Don't ever say thrice again.
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Self appointed leader of the I like to shit on my own face when I jerk off. .
I hate being right. It's not a badge of honor for me. Most of the time I wish I was wrong. |
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datboiwaynes ![]() Rookie ![]() ![]() Joined: Oct/23/2023 Status: Offline Points: 5 |
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Ducati,
First of all love your responses, they always make me laugh. Secondly, I actually took a loan out from a bank for the country club. There are no backup plans for me in this business, so I'm trying to make investments into myself and practice. Perhaps a poor choice of word on "thrice" so I'll keep that in mind.
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luvindy ![]() Moderator ![]() ![]() Joined: May/17/2010 Status: Offline Points: 25198 |
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Didn't read the OP but this normally has a good outcome...
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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, |
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DucatiSportGT ![]() Gold Member ![]() ![]() Joined: Jul/16/2013 Status: Offline Points: 13769 |
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You did what?!!
Pay that loan back. Quit the country club. Just door knock homes and businesses until you can't walk any more. You are young and have a bunch of energy. |
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Self appointed leader of the I like to shit on my own face when I jerk off. .
I hate being right. It's not a badge of honor for me. Most of the time I wish I was wrong. |
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DucatiSportGT ![]() Gold Member ![]() ![]() Joined: Jul/16/2013 Status: Offline Points: 13769 |
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If I could go back to my younger self, this is the advice I would give myself. Just do anything and everything you can to meet people. And don't sell them the first time you meet them. Just get in front of people. Get your name out there to as many people as you can. This industry is slow at first. It takes years to build up a decent book.
This is a contact sport. You can to be get in contact with people to make this work. If I were you, I would door knock all day long. Or at least evenings and weekends. Put in the effort now so that in ten years from now, you can look back with gratitude that you are completely free. And don't even take a loan out for anything. The loans are what will cause you stress. The more debt free you are, the more at ease you will be building your book the right way.
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Self appointed leader of the I like to shit on my own face when I jerk off. .
I hate being right. It's not a badge of honor for me. Most of the time I wish I was wrong. |
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datboiwaynes ![]() Rookie ![]() ![]() Joined: Oct/23/2023 Status: Offline Points: 5 |
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Ducati,
That advice definitely helps, do you have any tips on door knocking? I never really received any formal training on it so it's kind of uncomfortable (I guess it always feels like that though?)
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datboiwaynes ![]() Rookie ![]() ![]() Joined: Oct/23/2023 Status: Offline Points: 5 |
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luvindy,
I included the loan into my monthly budget and it actually works. The membership was only $2,500 buy-in and $750 monthly dues so the loan I took accordingly wasn't insane.
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luvindy ![]() Moderator ![]() ![]() Joined: May/17/2010 Status: Offline Points: 25198 |
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You're nuts. Any budget you have now will be out the window in less than a month.
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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, |
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CashFlow ![]() Senior Member ![]() Joined: May/04/2011 Status: Offline Points: 1498 |
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$750 a month plus usage cost. That’s more than I pay. Why don’t you lean on your dad to lean on EJ to land you a great office. In the end you are at the right place and depending on the deal it may make sense, but you’re trying to knock on doors and have no idea what you are doing. It’s hard enough without that wonderful EJ training. Tell us more about your current arrangement with the independent RIA.
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knuk ![]() Senior Member ![]() ![]() Joined: May/20/2010 Location: Canada Status: Offline Points: 7176 |
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Only 1 and 5 are actually prospecting. Also, do you own a phone. Call!
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Insert signature here
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Chips ![]() Senior Member ![]() ![]() Joined: Jul/08/2019 Location: SF Bay Area Status: Online Points: 650 |
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If you haven’t already, click through Wolfs post. Lots of good advice on door knocking and building a business in general.
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DucatiSportGT ![]() Gold Member ![]() ![]() Joined: Jul/16/2013 Status: Offline Points: 13769 |
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Second this. I still love this post.
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Self appointed leader of the I like to shit on my own face when I jerk off. .
I hate being right. It's not a badge of honor for me. Most of the time I wish I was wrong. |
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BullishT ![]() Senior Member ![]() ![]() Joined: Dec/05/2017 Location: Midwest Status: Offline Points: 2102 |
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I love this financial move.
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DucatiSportGT ![]() Gold Member ![]() ![]() Joined: Jul/16/2013 Status: Offline Points: 13769 |
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datboiwaynes, don't be discouraged. Keep asking questions.
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Self appointed leader of the I like to shit on my own face when I jerk off. .
I hate being right. It's not a badge of honor for me. Most of the time I wish I was wrong. |
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Nathan Explosion ![]() Platinum Member ![]() ![]() Joined: Mar/08/2011 Status: Offline Points: 34982 |
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this kid has a bright future.........stone COLD killer
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advisor86 ![]() Rookie ![]() Joined: Apr/03/2017 Status: Offline Points: 61 |
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Did your Dad retire before letting you in the biz?
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Nathan Explosion ![]() Platinum Member ![]() ![]() Joined: Mar/08/2011 Status: Offline Points: 34982 |
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this kid is on a mission!
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advisorman ![]() Senior Member ![]() ![]() Joined: Oct/22/2011 Location: Behind you Status: Online Points: 4186 |
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Why not get your dads book?
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King of sarcasm and speling
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