Door Knocking...

[Robert_Brown]

As some of you may know, I received an offer from Edward Jones to be a financial advisor. I have been told that it's a great opportunity, and I am interesting in taking a deeper look at it.

Edward Jones wants their first year financial advisors to door knock, a lot.

My question is, can door knocking be an effective way of gaining leads and building a book of business?

How effective is it compared to cold calling?
What are some pro tips I should know about door knocking?
Should I dress professional or casual?

 

[billberry12]

As an insurance agent, I don't door knock. I won't do it.

If someone knocked on my door that I didn't know, there is no way I would let them in my house, or invite them to come back.

If someone knocked on my door that I didn't know, and told me he was an investment adviser, I would think he had lost his mind. No way am I going to invest with a door to door salesman! Think about it...

This is just my opinion. I doubt many on this board will agree with me.

 

[Robert_Brown]

I understand where you are coming from. So, a door-to-door financial advisor would not appeal to you as someone with credibility.

If not door-to-door, in what way would a financial advisor be able to peak your interest or present himself as a person you should listen to?

 

[0b1kanobee]

If they want you to door knock then go out and effin door knock. Asking these guys what doesn't work and what does work many wouldn't have an idea because they just flat out wouldn't do it. Most won't even pick up a phone and call people, at least rgularily. I'm just being honest and telling you straight.

How can this hurt? "Good evening Mrs. Jones, I'm Stanley Bloom with the local Edward Jones office. You may or may not have heard of us. Here is a flyer we are handing out to the local community."

Oh I see you handle old 401ks?
Oh, good to know. We just moved to the area.
Oh good to know. I hadn't heard from my old broker in a year and I found out he just moved.

There is a bunch of other ways to get clients but they must have some reason they want you to knock.

BINGO

The key is to work. If they tell you to knock on 25 doors a day then knock on 50 or 100.

 

[moonlightandmargaritas]

I understand where you are coming from. So, a door-to-door financial advisor would not appeal to you as someone with credibility.

If not door-to-door, in what way would a financial advisor be able to peak your interest or present himself as a person you should listen to?

Robert, here's the philosophy:

A d2d visit from a reasonably intelligent, clean cut, well-dressed (maybe a decent golf shirt from a local club, slacks and SHINED shoes) young man may not pique immediate interest, but when the need arises, you have built "top of mind" awareness.

It's important to stay in touch (a newsletter?, sponsor a local peewee football team?) as one in person visit won't get it...

Marketing. Capiche?

 

[rousemark]

If they want you to door knock then go out and effin door knock. Asking these guys what doesn't work and what does work many wouldn't have an idea because they just flat out wouldn't do it. Most won't even pick up a phone and call people, at least rgularily. I'm just being honest and telling you straight.

How can this hurt? "Good evening Mrs. Jones, I'm Stanley Bloom with the local Edward Jones office. You may or may not have heard of us. Here is a flyer we are handing out to the local community."

Oh I see you handle old 401ks?
Oh, good to know. We just moved to the area.
Oh good to know. I hadn't heard from my old broker in a year and I found out he just moved.

There is a bunch of other ways to get clients but they must have some reason they want you to knock.

BINGO

The key is to work. If they tell you to knock on 25 doors a day then knock on 50 or 100.

I agree.. If you are going to got to work for EJ, quit worrying about what the people on the forum say and do what the EJ folks tell you to do. They have a vested interest in seeing you succeed. In fact, the best thing you could probably do is take a break from the forum until after you have completed the training program so that you are not always second guessing what is being asked of you.

 

[WinoBlues]

Bases solely on your past advice request and rebuke of the advice. What answer do you want? Go with that.

They are paying you a base. They have more experience than you. It is their brand. You are theirs, Do it their way. Until you have a book large enough to give you the freedom to do as you like, do it their way.

 

[Rearden]

Best advice ever.

My bet is that there're SO MANY prospects for financial services out there that just haven't gotten around to it.

And when your ass shows up and is clean cut and confident...

Anyways, you won't have to deal with the No Trespassing signs and pitbulls like us FE agents do.

I agree.. If you are going to got to work for EJ, quit worrying about what the people on the forum say and do what the EJ folks tell you to do. They have a vested interest in seeing you succeed. In fact, the best thing you could probably do is take a break from the forum until after you have completed the training program so that you are not always second guessing what is being asked of you.

 

[Robert_Brown]

Thanks guys, you're totally right.

 

[billberry12]

A letter (old school) to me (or email), followed up by a phone call, and a drip email campaign until I either become a client, or tell you to leave me alone, is the best way to get me to entertain the idea of becoming your client.

This is the way I have been doing this business for 12 years. Seems to work for me.

I'm sure it depends on what product you market. But..you did say investment services.

But....Edward Jones knows a whole lot more than I do about how to execute their business model.

I'm just trying to give you my view as a consumer more than anything.