Calling all Wall Street Warriors

[gymrat surfer]

Taking my series 3 next week. Wish me luck

Any business tips for a new broker?

 

[kx250rider]

This might be out of left field, but for a new broker, the first thing you need is to come across as a good character, and not be too much of a hotshot. If a broker tells me about a great fund that will "surely get me 12%", and that it's "the safest around", I get scared. Why? Because when for real, those investments aren't ever put out as offers. I'd rather have a broker ask me what I would like to look into, and have him/her say "Let me research that, and I'll show you where it's been, and let me find out who's buying it". That would tell me you're conservative enough to protect me, and you're not hurried. The quickest way to never hear from me again, is to call me with a "great opportunity that just came up today!!!!!!". Present yourself as you already have your own ducks in a row, and your reputation is what you're trying to build; not your commission. Act as if you're not concerned just now with making a living from brokering. It sounds crazy to say that, but just ask around among seasoned businesspeople. They will likely agree with me, although I'm sure your education told you otherwise, when it comes to salesmanship.

Charles

 

[gymrat surfer]

Charles, you hit it right on the button! The purpose of any business as I see it is pretty simple.. "To help other people"

 

[bran987]

This might be out of left field, but for a new broker, the first thing you need is to come across as a good character, and not be too much of a hotshot. If a broker tells me about a great fund that will "surely get me 12%", and that it's "the safest around", I get scared. Why? Because when for real, those investments aren't ever put out as offers. I'd rather have a broker ask me what I would like to look into, and have him/her say "Let me research that, and I'll show you where it's been, and let me find out who's buying it". That would tell me you're conservative enough to protect me, and you're not hurried. The quickest way to never hear from me again, is to call me with a "great opportunity that just came up today!!!!!!". Present yourself as you already have your own ducks in a row, and your reputation is what you're trying to build; not your commission. Act as if you're not concerned just now with making a living from brokering. It sounds crazy to say that, but just ask around among seasoned businesspeople. They will likely agree with me, although I'm sure your education told you otherwise, when it comes to salesmanship.

Charles

Good advice, thumbs up.