This is the craziest job ever. I’m less than one year in and I get no leads given to me. I’m an indy FA (S7, S66, and life + health licensed) I am constantly looking for new prospects to the point I want to rip my hair out, but then I’ll have days like today where I’ll make 20k in one day and think this job is a joke. I really need to learn how to prospect better. I’ve made 150k in my 7 months as an advisor, I’ve made 29 new clients in that time and am looking for a way to streamline prospecting

like
Posting as :
works at
You are currently posting as works at

What are you selling your clients that you’ve made $150k off 29 of them?? That’s a really high commission for 7 months on the job. What response are you looking for from your post?

likesmart

Why are you so pissed? I have clients in fee only as well but starting off they don’t make enough to get into that category. I’m honestly just asking for ideas for prospecting that has worked in the past for other advisors, but you’re coming at me? I’m 26 and top 5 in my company.

like

I think every advisor looking at your post is either scratching their head and wondering wtf you’re talking about or is laughing their ass off. Based on what you’re saying, you generate an average of $10k per client if you only have about 29. Would have to be even more if you’re doing any fee based at all. I’m in the business over a decade and have hundreds of clients and I don’t think I’ve made $10k in revenue on more than 30 clients my entire career and I work for a very large global organization. Dude come on there’s people in this bowl that are major league and know the business. Just ask for ideas to prospect and you’ll get input. Coming here and blowing smoke up everybody’s ass isn’t going to make them want to help you 😂😂😂

like

I don’t entirely agree that it’s “screwing” them. But I’ll be honest, I wish I didn’t have to sell life insurance to make money.

Why would you be given leads if you are Indy

like

Independent contractor status at a firm

Prospecting when you are starting out is the worst part of the job for sure. If you are 7 months in and have that income already you are either doing something very right, or very wrong.
How much of the $150 is commission vs recurring? If all you do is commission based, you will always be digging for the next one. If you build a client base with an ongoing relationship and management, then life gets easier as you go. People you sold a product are far less likely to make referrals than people you have been helping for years.
I am not making a judgement about one path vs the other, just stating a reality.
When I started out I tried to find commission cases to pay the current bills while also onboarding management clients to pay the bills for years to come.
Without knowing more I would say to look at how you met those 29 and try to make it a repeatable process.

like

Most of my plans for new clients consist of maxing a Roth, single reg, and getting them locked in with whole life insurance. So I have sales charges on any contributions to investments for accounts up to 20k balance. Then I move the accounts if the client wants into active managed portfolios. The permanent insurance provided upfront commissions and then very small trails over time. I work 65+ hours a week because I love the job and my close rate is damn near 100%. I was just wondering if anyone in this group had a successful experience of prospecting to streamline the process

😂

likefunny

bump

like

Sounds like a humble brag.

like

Something does not add up. $150 in 7 months it’s pretty good, you should continue the way you were doing with this production. Apparently is bringing you assets. Maybe you should give advise to others!!!

If he’s talking about total revenue it’s a little more believable, but $150k payout mean that’s about $300k generated for a newer advisor. I know hundreds of advisors and I don’t know one singe advisor that has done $300k in revenue their first 7 months in the business.

So an average of about $6k in annual premium per client? That sounds like a lot to me.

Related Posts

Someone from HCM module, could you please share your YOE and CTC.?

like

Can a tax person get a job in federal Gov't? If yes, where and how? My friend used to be an PA auditor, and now a Gov't employee. Going to work 2 days and wfh 2 days. Overall comp much better.

like
like
like

Hello all! I am an associate underwriter in commercial lines for a regional carrier in Boston. I have been in this role for a year. I graduated college in 2019. I was in Sales for a about a year and a half then switched to this role. I make $56 a year. I know my company underpays it’s employees but I am curious how much more I could be making? I will likely be promoted to a Level 1 underwriter within the next 6 months to a year at the latest. Thanks!

like

What would be the in hand salary for 24.8 lpa fixed?

like

What does littler pay 4th years in Miami?

like

What’s a reputable source for verifying industry salary ranges? I’m primarily looking for Project Management and Integrated Production salaries, though I’d be interested in seeing other departments, too.

like

Do tcs change the offered ctc if we counter it with higher ctc offer?

like

After 6 years of temporary contracts and unstable situations, I find my dream job in my dream company. All of a sudden the world goes upside down and I get laid off. I start sending hundreds of applications, with only 2 recruiters getting back to me to say I don’t have experience for the job (this is how it works in Italy). Add a terrible health situation in my family and it seems there’s no light at the end of the tunnel. Ugh. 😞

like

Hi I have two offers please help to choose one

YOE 4.2 Years
Amadeus 16 LPA
Omnicell 19LPA

like

Hospital only offers 3 months maternity leave. How do I negotiate more?

like
like

I’m a Army reservist and retiring In a few years. Will be getting healthcare at age 60 for the rest of my life. Does it make sense to put money in a HSA?

like

Big 4 and others what's the logic behind charging by the hour vs flat rate based on team size? Do you feel it creates the right/wrong incentives? What benefits do you get for having a higher rate?

like

I have offers from below companies.I am having 2 years 4 months of experience in Java Backend.

1. IBS - 9lpa (8.5 fixed + 5% variable)

2. Accenture - 9.18 fixed + 21% variable

3. Bosch - 8.5 fixed + 7% variable pro-9 fixed + 5% variable

4. Wipro- 9 fixed + 5% variable

Also is this pay matching with market standards for java developer with 2.4 years of experience?

Should I try for more compensation?

like

Average Salary for a Physician Assistant in Puerto Rico ?

like

HCL -
Fix -   1,156,500
Variable - 107,200
Total CTC - 1,340,006

EXL -
Fix - 1,100,000
Var - 1,650,00
CTC - 1,345,000 + 50 K Joining bonus.

Which offer is good and which company should i join.

like

*KGS*
Can Business Associate and Analyst disclose their CTC, so will have a clear idea about Pay range.

like

Hi everyone, I'm comparing two offers from Accenture and Cognizant. Could you help me figure out some of these questions: 1. At 5 YOE, what kind of package can I expect? Current offers: Accenture (12LPA fixed, 2.5L variable), Cognizant (14.3LPA fixed, 45K variable) 2. Nature of work - What kind of work can I expect from these companies? 3. would I get the opp to use any authoring Tools? 4. Work life balance - which is better? 5. Increments - avg % hike? 6. Culture - which is better?

like

More Posts

i'm on an F1 visa and going to marry my SO soon ( we're both female) She's American I'm British , does anyone know the process of applying for a marriage based green card? and how long it would potentially take? thanks!

like

I've just been approached by a possible client in the US and I've been scammed many times. Maybe for once this is a potential client. Is there an online resource that anybody knows about that is a list of scammer names or something similar?

like

Hi everyone, I'm comparing two offers from Accenture and Cognizant. Could you help me figure out some of these questions: 1. At 5 YOE, what kind of package can I expect? Current offers: Accenture (12LPA fixed, 2.5L variable), Cognizant (14.3LPA fixed, 45K variable) 2. Nature of work - What kind of work can I expect from these companies? 3. would I get the opp to use any authoring Tools? 4. Work life balance - which is better? 5. Increments - avg % hike? 6. Culture - which is better?

like

Hi Fishes,

How many days prior to our joining should we be getting the physical onboarding details, and do they provide accomodation for initial days if we move from a different location?

like

📚 Resource Thread

Drop your favorite books, videos, podcasts, courses, websites, mentors, etc below!

Help another user 🤝

like

Why does it take some EA’s days/weeks to reply to a simple email, with follow up emails? I understand being busy, but how can you neglect a core part of your role?

like

I recently cleared all rounds of interview for Mindtree and waiting for the offer letter. However, since Mindtree has been recently acquired by LTI, is there any layoff expected to happen in Mindtree?
Kindly pls give me an idea about how the situation is now in both companies.

like

Hey fishes, looking for referral at Deloitte. Can some one refer me for SM in Location Strategy team? TIA Deloitte

like

Self-taught marketers, how did you grow your knowledge to get where you are today?

like

I'm a lead at tw, on beach since 6 weeks(4 weeks onboarding+immersion+bootcamp) followed by 2 weeks beach.
Should I be worried? How long does it take to get project.. I'm new to service based industry so please excuse me if the question is silly.
Yoe-9.5
Skill-react, ui, js etc

like

Anybody have insight into corp culture at Centene?

Does pwc's Parag parekh health insurance cover dental treatments like root canal or others?

like

Hi,

I am looking for referrals for SEO manager or SEO specialist roles, I have 3 years of technical and content SEO experience working with automotive, healthcare, charities and groceries brands in large agency settings.

If your company is hiring for these roles, you can DM me

like

We have a team of 5 people, one AVP and the other 4 including me, working as a team leader, i got to know from my other colleagues from different teams that 2 of my team members were talking degrading things about me to my AVP, on the other hand they are "Ok" type of colleague upfront and talk bad things about each other when they are in front of me, i don't want to get involved in such conversation, I'm having really hard time dealing with bad bitching they do behind my back, how to solve this?

like

Any takes on reaching out to creative recruiters directly? Is it hit or miss?

6 months of work experience out of undergrad in consulting. looking to make the hop to product but have not made it past resume screeners due to no formal product experience. Anyone willing to chat?

like

What will be my take home salary?HCL Technologies
Thanks

Post Photo
like
like

S& experienced hire senior associates - what were your sign on bonuses?

like

Additional Posts in Financial Advisors

Anyone have any experience with prospecting/having a seminar at a school during a PTA meeting or some other type of "parents night"?

like

Best way for a new intern to learn the basics of excel?

How do you know if you're taking on too much work? Especially, if your dream is making it to the top.

like

For my Raymond James friends--how did you decide between W2 and 1099 channel? What were the main benefits that swayed you to which side? Was it the right move?

like

Has anyone bought a list of prospects that was actually legit? If yes, what company did you use?

like

Frustrated. Wealthy client. Gave me his objectives, met a second time and loved it, said it was exactly what he wanted. Wanted to look over that weekend the plan on his own that weekend. Cont..

like

Had our Reg BI call today, and the name of the game is disclosure. While the actual client conversations will change little, the amount of additional paperwork/notes/disclosures for us feels like overkill. I understand it, bit how are your firm's adapting?

like

If there are any wholesalers on here reading this, please come and feed us!!! Oh, and teach us about your lovely products, too

likefunny

How soon should someone start thinking about pursuing CFP or CFA designation? What are the requirements and is it worth it?

like

I watch CNBC all day and I see those Fisher Investment commercials talking about how they have much better strategies than everyone else. Anyone have a clue what their MO is?

like

Looking into certifications like the CFP or CFA but they’re so expensive and I can’t afford the upfront cost right now. Are other certs like APMA and CDFA worth it?

like