We wrote the following to our weekly Sunday Night Email readers and we asked for replies with comments/thoughts/suggestions about how to handle this awkward situation (that MANY wholesalers had been in).
Being the amazing folks that they are, not only did we received a bunch of comments, some expressed an interest in knowing what others suggested.
To that end:
Being the amazing folks that they are, not only did we received a bunch of comments, some expressed an interest in knowing what others suggested.
To that end:
Top Producer Gone Wild
Swanky due diligence trips.
Today they are mostly a distant memory.
But back in the day I invited a few of my very best advisors to attend ours in NYC.
The opening event was the welcome reception at Windows on the World.
It was there that I knew Dave was going to be a handful.
You see, Dave was the advisor that got louder the more he drank.
And man, he did enjoy a drink or 10.
On Saturday we escorted folks uptown to watch college football, not surprisingly beers and Bloody Marys ensued.
By late afternoon, Dave’s volume level was dialed up to 11 and he was more belligerent than I ever dreamed possible – literally mouthing off to random strangers on the street.
We were torn between leaving his inebriated butt to wander the mean streets, and feeling responsible for making sure he didn’t get the snot beat out of him.
I’m curious, what do you think is the proper wholesaler etiquette when a top producer goes wild at one of your events?
Comments:
“That’s tricky Rob. I had this happen in NYC and was able to get him to go off campus. Without me or any other reps. He was more than a handful. And of course. He was my top producer.
I’m very curious as to how others have handled this.”
I’m very curious as to how others have handled this.”
“I don’t invite them to trips and try to only attend lunches with them while attending regular in territory meetings.”
“Put him in a cab home. He’s your guest.”
“He is at your event so subtle control seems appropriate.”
““My event, my problem” in my opinion. I’ve had a few close calls and I can only imagine your war stories!”
“In 2023 the answer is don’t invite anyone who can’t be a professional… for better or worse… probably better.”
“Hell No. At the very least he needs to be confronted with this irresponsible and unprofessional behavior.”
“Great email!
First and foremost, the wholesaler should try to prevent this from happening in the first place.
We still do swanky due diligence trips and I let it be known by my behavior (not drinking) that drinking to excess really isn’t part of our protocol.
Most guys who value our relationship understand and are respectful. Additionally, most top producers can afford to buy their own drinks. I typically see the plate lickers be the ones who drink to excess.
My experience is top producers are there to genuinely learn and not to get a free vacation on us. Lastly, the more confidence you have to set the tone (and not let the advisor set it) the better.
That said….it happens. I had it happen in Chicago a few years ago. It was a top producer and he literally fell flat on his face. One of his colleagues noticed and, thankfully, was of sound enough mind to help me get him into a cab (which I also hopped in) and took him back to the hotel. He was embarrassed in the morning and I smiled and said no worries.
In the case of Dave….I’d pull him aside and let him know he’s being out of line and this isn’t the spirit of our trips. His reaction determines my next move. If he gets it, starts drinking water, and calms down…he can potentially stay. If he proceeds to get belligerent with me? Then I calmly let him know that one of us needs to leave and if it isn’t him, it’s me.
My career isn’t worth his party time.
Again, me not drinking solves the lions share if this problem.”
First and foremost, the wholesaler should try to prevent this from happening in the first place.
We still do swanky due diligence trips and I let it be known by my behavior (not drinking) that drinking to excess really isn’t part of our protocol.
Most guys who value our relationship understand and are respectful. Additionally, most top producers can afford to buy their own drinks. I typically see the plate lickers be the ones who drink to excess.
My experience is top producers are there to genuinely learn and not to get a free vacation on us. Lastly, the more confidence you have to set the tone (and not let the advisor set it) the better.
That said….it happens. I had it happen in Chicago a few years ago. It was a top producer and he literally fell flat on his face. One of his colleagues noticed and, thankfully, was of sound enough mind to help me get him into a cab (which I also hopped in) and took him back to the hotel. He was embarrassed in the morning and I smiled and said no worries.
In the case of Dave….I’d pull him aside and let him know he’s being out of line and this isn’t the spirit of our trips. His reaction determines my next move. If he gets it, starts drinking water, and calms down…he can potentially stay. If he proceeds to get belligerent with me? Then I calmly let him know that one of us needs to leave and if it isn’t him, it’s me.
My career isn’t worth his party time.
Again, me not drinking solves the lions share if this problem.”
“At the end of the day- If they are a friend- you have a conversation with them to chill it down. If they aren’t- you let the representatives in attendance from that FA’s home office deal with them.”
“I stop paying for their drinks after number 3. I don’t want to be held responsible for a drunken night out. Dave is on his own.”
“Being a now sober alcoholic, definitely would want to look after this person and get them back to hotel and maybe even try to hang with them until they were coherent enough to realize they had gotten out of hand. Could be a bigger challenge if black out drunk.
Not a good situation at all on many levels for many people especially in the world we live in today…..thanks for your insight and perspective.
It surprises me how this behavior is still facilitated in 2023, I have seen it.”
Not a good situation at all on many levels for many people especially in the world we live in today…..thanks for your insight and perspective.
It surprises me how this behavior is still facilitated in 2023, I have seen it.”
“He’s your advisor so you need to show some responsibility and get him home to the hotel room.
You could warn him that the next episode will result in him paying for his own travel expenses to the event. Follow that up by not inviting him to the next one and let him know why. He will be pissed and may threaten to leave you, but he is a liability to your company and efforts to show clients how good a firm you are.”
You could warn him that the next episode will result in him paying for his own travel expenses to the event. Follow that up by not inviting him to the next one and let him know why. He will be pissed and may threaten to leave you, but he is a liability to your company and efforts to show clients how good a firm you are.”
“If possible, get a divisional/head of sales involved to get them back to their room. Or another wholesaler.
I’ve had to step in on behalf of a counterpart to stop a bad situation and he was grateful. Didn’t want to be the “bad guy” but needed the FA to leave/calm down.”
I’ve had to step in on behalf of a counterpart to stop a bad situation and he was grateful. Didn’t want to be the “bad guy” but needed the FA to leave/calm down.”
“Super tough one. Only had the experience once, and he only did it one night, not the whole trip, so it wasn’t much of a problem.
Here is what I would do:
1. Let my boss know the situation
2. Ask the advisor the day after some question. “Hey Bob, how ya felling today? You ok? Just want to make sure you are alright. We don’t want our guests feeling too tired to make it to all our meetings”!
Here’s the thing-I’d ask these questions with a smile on my face. Non threatening. One of the guys so to speak. Hopefully I’d plant a seed that he drank too much. Get his mind thinking that since I’m asking he (hopefully) realizes he went too far. I’d do it just between the two of us as well. I don’t want to give him the impression that I’m saying this in a group where it can be normalized- (people laughing, he doesn’t respond to my specific questions, etc).
Short of that I’d grab some guys from Brooklyn to throw him in the East River….”
Here is what I would do:
1. Let my boss know the situation
2. Ask the advisor the day after some question. “Hey Bob, how ya felling today? You ok? Just want to make sure you are alright. We don’t want our guests feeling too tired to make it to all our meetings”!
Here’s the thing-I’d ask these questions with a smile on my face. Non threatening. One of the guys so to speak. Hopefully I’d plant a seed that he drank too much. Get his mind thinking that since I’m asking he (hopefully) realizes he went too far. I’d do it just between the two of us as well. I don’t want to give him the impression that I’m saying this in a group where it can be normalized- (people laughing, he doesn’t respond to my specific questions, etc).
Short of that I’d grab some guys from Brooklyn to throw him in the East River….”
“Get them a cab back to the hotel and shut them down. Other top producers will respect you more for taking control, respectfully.
Dave will likely respect you more as well.”
“Don’t have more than a drink or two if you’re the host so you can keep the wheels on! Since the company sponsored the $#!+ show, I’d be sure he was put in a car and safely sent back to his hotel.”
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