On My Mind: Your Strategic Wholesaling Advantage

Thoughts from Coach Rob Shore about the art, science and lifestyle of wholesaling, for wholesalers and their leaders.

This episode: Your Strategic Wholesaling Advantage

What’s on your mind? Email me at rob[at]wholesalermasterminds.com

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Transcription:

Welcome back to On My Mind. This is that little corner of the universe of The New Wholesaler Masterminds Radio Show, where I got to tell you what’s on my mind, and ask you what’s on yours. I’m Rob Shore with Wholesaler Masterminds.

I was talking to a coaching client today. He’s a client that is a part of experiencing two very large organizations that are merging. One formally bought the other. Two big asset managers. Now we won’t talk about the names of the asset managers, or the name of the wholesaler’s region, or anything like that. We keep everything anonymous at Wholesaler Masterminds Coaching.

But he mentioned to me something that had me scratching my head.

The notion that firm expectations of wholesalers were kind of low in this period, probably about 30 days out of from closing, and maybe management wasn’t watching the activity count as much as they would normally watch. Weren’t watching production as much as they would normally watch.

I mean, there’s hundreds, if not thousands of people that are changing jobs, getting new roles and responsibilities, physically moving desks, not sure where they’re going to be sitting. And, I said it made me scratch my head.

Not the notion that organizations will be distracted when there’s merger taking place, but I scratch my head that this wholesaler might be missing an opportunity, and I told him as much.

I equate the opportunity that he might be missing with the same phenomenon that takes place during the holiday season, during the month of December, when we kind of discount that the month of December…you know, anything that happens between the end of Thanksgiving weekend, that four day weekend, and the beginning of the year, especially after the first week of the year, well, that’s just all a very quiet period.

We’ll just go ahead and visit advisors, and drop off our holiday good wishes to their offices, but no serious work takes place.

Or during the summertime, when you ask a wholesaler in Texas how difficult it is to get in touch with advisors, they’ll tell you, “Really, really difficult.”

Or in New York City, when the entire month of August everybody allegedly vacates town. All, what, 10 million people on the island of Manhattan allegedly leave the city? At least those that have a securities and/or insurance license do.

See, I believe that during these periods, during these periods when management expectation is lower because there’s a merger going on that closes in 30 days, during a period where it’s summertime and really, really difficult to potentially see advisors (or you err on the side of assuming you can’t) or during the holiday season when the month of December is all but written off.

Oh, and there’s one more I’ll give you, which is post pullback in the market.

You know, there’s a big dip in the market. People are frantic. We haven’t had one in quite some time. Not prolonged anyway. People are frantic about this correction. People start to take the bunker mentality.

That includes the advisor hiding from the client, and the wholesaler not reaching out to the advisor.

These are those moments. These are those moments when you can poke your head above the wholesaling clouds.

This is the place where you can make headway when others are retreating.

This is the place where you can make an impression upon your boss when they don’t even expect you to make an impression, because their expectations are low.

Because in this case, they’re not expecting a lot of activity, because we got a merger that closes in 30 days.

Look for those moments in time where you can actually get a strategic advantage in your career, at your firm, in your region.

When others are going hard left, you’re taking a right, because you know that you can gain that strategic advantage.

That’s what’s rattling around my head today. That’s what’s on my mind. Send me an email. Let me know what’s on yours. Rob[at]wholesalermasterminds.com.