This post used to be called A Lot More Than 10 Rules for Wholesalers.
An odd title for a post, I know.
You see, it started as a Sunday Night Email (it’s received by over
4000 11,000 wholesaling folks – get on the Free Email Updates list) which read:
The wisdom of our elders.
A few weeks ago I was speaking at the CFDD Conference in Chicago and was introduced to a long tenured wholesaler.
He’s been around so long that telephones with a dial (versus crank) had just come into vogue when he started his career!!
As we spoke over an adult beverage he told me he had 10 Rules Of Wholesaling.
I insisted that he share them with me so I could share them with you.
Here they are – in the exact format I received them in:
#1 DON”T WHOLESALE DURING FAMILY TIME!!!!! ( on vacation, etc. )
#2 Don’t spend ANY time dissing the competition.NADA.
#3 Don’t eat alone ( makes you look like a loser).
#4 Don’t swear- no matter how much you want to. no F bombs.
#5 Send your expense account weekly. Absolutely NO padding.
#6 Keep your car clean.
#7 NEVER TELL ANOTHER ADVISOR WHAT YOU ARE WORKING ON.
#8 Be discrete and moderate at ALL company sales meetings.
#9 Treat your internal with respect, kindness and professionalism.
#10 NEVER tell anyone how much you earn. never. ever.
If you have more to add to the list (I do and they’ll be published soon) reply to this email and let me know.
Go be amazing this week,
So folks started sending in additions to put on the list – some similar, some new, all good and all appreciated.
And I’ll still be publishing my list soon…
From our readers:
- Limit your drinking 1 or 2 drinks with Advisors, home office and colleagues stay in control at all times
- If you don’t have an answer to an FA’s question: State that’s a great question and at this time I do not have the answer. I will have it for you by the end of day/close of business tomorrow.
- Don’t drive a flashy car. At one point in my career I was an advisor and I remember seeing a wholesaler driving a Audi A8 – then later that week I saw another driving a Camry. All things being equal investment wise and I liked them both, I gave my business to the Camry guy because I figured the A8 guy was doing just fine.
- Never and I mean NEVER complain about your comp being down compared to last year. It has been really tough on advisors these past few years and they do not want to hear about how you use to make $500k but now only make $400k – this will fall on dead ears and create resentment.
- Always, always be on time
- Shine your shoes
- Limit yourself to ONE drink…regardless of where you are and who you are with.
- Never ever, never date the assistant.
- Build on a personal brand – you are what makes the difference.
- Always follow up on request with a personal note or call to make sure the request was fulfilled
- Listen to what your clients want and give them the best that you can do
- Walk in your clients shoes and know their challenges
- Your clients will have good and bad days but you can only let them see your great days
- Never cancel a meeting (unless illness or emergency)
- Never be late to a meeting
- If you are late – call yourself; it’s better than your internal doing it
- The one key piece that has worked well for me over the years has been, get to know the assistant.
- The second key is be good to the receptionist. Once you know the gate keepers, getting a meeting is pretty straight forward.
- Introduce yourself to the branch manager, out of respect for his position and tell him that.
If you have still more to add put them in the comments section down below.
What are your doing to make this year your Career Year?
Let’s talk about what we can do to make the year ahead the best it can possibly be.