People with 10 million dollars...

[cookiepuss]

don't just pick up a phone book to look for a financial advisor....

or do they?


I guy just called and said he had been calling brokers through the phone book, but they only had a couple years expereince and he wasn't comfortable with that. Great, cause our advisor has over 18 years expereince. I ask him how much he wants to invest. he says 10.5 million. I almost choked.

however...as soon as I started to tell him about the different types of accounts we have and that I wanted his name number and address so I could get him started by sending him some literature...he dodged me and said he'd call back on monday when the broker is here.

I smell a rat.

however I got his number off caller id and called it. it is his place of business, spoke to the receptionist and I just left him a voicemail saying I can get him in touch with our broker before monday if he would like.

Since his work number seem to be legit, maybe he's not full of shit.
it's just that 10.5 mill doesn't usually fall into a brokers lap. people like that usually get referred by another high net worth client.

this should be interesting. not that you guys give a shit about my job...but there's no one but me in the office and I'm lonely.:o

[Rock]

do you get a cut if he decides to go with your man?

Also, can't he just put half of that in a savings account and live pretty fat cat steelo off of the interest?

[cookiepuss]

I better! yeah seriously...it would trickle down...i'd get a nice bonus for sure.


I just wanna make sure one of you kids didn't hunt down my work number and is playing a joke on me. punks. ;) haaha.

[cookiepuss]

Also, can't he just put half of that in a savings account and live pretty fat cat steelo off of the interest?


yes. he probably could. though we offer higher interest than most banks do.

thing is most people blow thier inheritance or lotto winnings in an average of 18 months, regarless of how much they inherit or win.. don't ask me how, but that's the statistic. if you've got that much money you should have a manager helping you plan and preserve it.

another red flag about this guy is he sounds fairly young...and he says he's extremely aggressive. aggressive investors aren't always smart investors they just like to gamble.

[abcdefz]

His behavior doesn't necessarily mean anything. If I'm contacting a business I hate being asked for my contact information so someone
can get back with me, because I know that if their offer or services don't interest me, I'm still going to keep getting sales calls hounding me.

[cookiepuss]

His behavior doesn't necessarily mean anything. If I'm contacting a business I hate being asked for my contact information so someone
can get back with me, because I know that if their offer or services don't interest me, I'm still going to keep getting sales calls hounding me.

yeah...I can see that aspect too. still I have to try my best to get them to open up.

if he's an aggressive investor, I'm hoping he'll want to work with go-getter types. thats why I went ahead and called his number off our caller ID. I figure there's not harm in letting him know that we will do some back bending for him.

if he's not serious he isn't going to call back anyway.

[hpdrifter]

Wow, you must not be bummed about losing $80,000 guy anymore.

[hpdrifter]

...incidentally when the fiance worked at a bank he had a guy come in one time who had forgotten about an account he had and decided it was time to invest it.

It contained $400,000.

[cookiepuss]

^ yeah well, we'll see...no deals have been closed at this point. But yeah, it would off set that event nicely.

I'm fairly skeptical though...

things like this don't happen everyday...and when they do happen they often are not what they seem.

I'll cross my fingers anyway. it would be nice to succeed with something like this.

[abcdefz]

He's not a Liberian prince or anything, is he?

[skinnybutphat]

I would think Whales with 10 mildo to invest would have to beat financial advisors off with a stick.

Your man is a financial advisor? Any generic tips for investing $50k?

[cookiepuss]

I would think Whales with 10 mildo to invest would have to beat financial advisors off with a stick.

Your man is a financial advisor? Any generic tips for investing $50k?

^ exactly. unless they are able to keep thier assest very secret they don't need to seek anyone out, advisors come to them. that's why you never know. some times a person says they have a million dollars...and then after you meet with them they say well I only want to give you 100k to invest right now and see how you do. then it turns out later they don't have a million at all...they just want to be treated like a high roller. we try to treat everyone like a high roller, but of course the more money you have the more attention you get...that's just how it is.

basic investing tips?

1. Diversify. don't put all your egg in one basket. invest in different sectors and internationally. Mutal funds are good for this...the funds are already diversified by the fund objective.

2. Ression proof sectors tend to be things like Pharmiceuticals and Utilities and food manufactures. Stay out of automobiles and technology...they tend to get volitile in a ression.

3. Make sure the 50K is something you can afford to invest. if it's not gravy and you might actually need it to live off of, don't invest it. Only invest funds that you can comfotable sit back and NOT worry about. the markets going to go up and down alot...your goal should be long-term gains. if you're going to have a stroke every time your stock drops, you probably shouldn't invest.

that's all the advice I can give without knowing more about your lifestyle and financial situation.

[skinnybutphat]

Thanks for the tips. Hopefully I'll be enough of a high roller one to need an advisor. I have been buying stocks but it's frightening to see the kind of swings I'm seeing.

[cookiepuss]

I have been buying stocks but it's frightening to see the kind of swings I'm seeing.

it truly is uncomfortable right now. but emotional investing gets people into trouble. Fear and greed are your enemies in investing. If you've done your homework and selected some solid holdings you should be ok when the market swings down.

what usually happens is a person sees their stock drop and they get fearful. and they sell. they incur a loss doing this. but they feel good cause they see the stock going down. then a few weeks later they see the stock moving up and they regret selling. they get greedy and buy the stock back at a higher price. again they've just lost money. they sold low and bought high, they exact opposite of what an investor wants to do.

Investing is alot like using the force, jedi. fear and greed are tools of the dark side. stay away from that.

Yoda would have been a good investor.;)

[skinnybutphat]

[QUOTE=cookiepuss;1573778]

what usually happens is a person sees their stock drop and they get fearful. and they sell. they incur a loss doing this. but they feel good cause they see the stock going down. then a few weeks later they see the stock moving up and they regret selling.QUOTE]

Ah... The Wellpoint (WLP) Syndrome.
All the numbers looked good, I thought it was a recession casualty. The day after I bought it it got hit with two class action suites. The day after that the CFO executed all of his options. I bounced & took the loss. Your scenario is exatcly what happened, but I didn't buy it back. Health Insurance isn't sexy enough. I can see how easy it can be to get greedy.

[cookiepuss]

just in case anyone is curious it looks like my instincts are correct. I did some more research and this guy works for an investor relations firm on the east coast...he's either trying to launder money or more likely, this is a cheap ploy to have a crack at selling our broker on the publicly traded stocks his firm represents.


I knew it. 10 million dollar investors do not fall from the fucking sky.


boy people do some dirty, tricky shit in business, don't they?

[abcdefz]

:(

[BangkokB]

I've heard that on application forms that are sent back the "whales" have a net worth of 1 -5 Million and average to and under 200K USD per annum. What do you see the average account opening for: I've heard that 3-5K was the norm. Just curious. A telltale sign that someone has an aggressive trading gambling problem would be if they're over 40 and their net is lower than their annual income.

Now, I'm not an expert in this but this is coming from an extremely reliable source. As far as people calling in they are far and few between and the ones that do call in are not clients that a company would want. But I suppose that's all in how the marketing goes eh?

I have heard on more than one occasion of clients being already working in the line of work of the whatever it is they're buying. It has happened. My friend told me that when people like this are on board, they are either a powder keg ready to blow or realize that they are too emotional to handle their own $. Pretty ease to realize which are which once they're in the game and which ones to shake out.

I'd imagine that the bread and butter clients are Managing Directors of Blue Collar companies(plumbers, electricians, farmers and such)-If it's not then if I was involved in that line of work that would be who I'd look for as a client. And yes the mantra of "Fear and Greed" is good. That's a true cover your ass statement if there was one. Just curious: Does your company have a loader?

[cookiepuss]

I've heard that on application forms that are sent back the "whales" have a net worth of 1 -5 Million and average to and under 200K USD per annum. What do you see the average account opening for: I've heard that 3-5K was the norm. Just curious. A telltale sign that someone has an aggressive trading gambling problem would be if they're over 40 and their net is lower than their annual income.

Just curious: Does your company have a loader?

yeah that sounds about right in terms of averages. 3-10K is around the ball park of what we see most of the time. there's quite a few people that also fall in the 50k-200k category though also. I forget exactly how much the total assets we have undermanagement is..but it's fairly small and looking to expand. My main roll here is really client relations and marketing. but I was studying to get licensed...I just haven't succeeded yet and I'm not sure I'm going to stay in this business.

Yes much of the buissness we get is from business owners, but we work with a lot of retirees as well. we have far more retired clients than we have working clients. So they are looking for income investments and not so much growth. naturally, they are extremely conservative.

Now, perhaps I should be familiar with the term "loader"... but I'm not sure I understand in the way your'e asking. but it might also be because our accounts are carried through the 8th largest firm in the US and we don't handle any of the actually money. all the back office stuff is done by the custodial firm.

[BangkokB]

Loader is the guy that the Opener builds the client up for. He's the so called Messiah of $. He's built up that once a client gets in then he/she has the privilege of talking to this person and guess what? He asks for the big dollars. And gets them. My friend told me that on average 2/6 New $ is from opens and the rest are from Loaders. They're not called "Loaders": They are built up to and from any term that your firm calls them. These are the guys that actually handle the accounts once they're in: The openers open. The Loaders walk them through the dance. This isn't a BKK concept: It all started out of Canada of all places back in the 80's and has gone from there. I know ATL had loaders on deck for a particular service of financial services.

Where are you located?

Back in the Day: there were meet and greet guys that would fly out and meet each client and then load them for the big dough. I got stories if you're interested: Not happy endings either. This was before the Intertubes Digital Age.

You going for Series 7 or what?

Read The Wolf of WallStreet: He's a dick but knew how to play the game.

[Yeti]

Our financial advisor keeps raising our monthly investment stipend. He is really good and does not charge us a fee but he likes to tighten our belts. My wife is nosing around the cable bill lately so I bet my HBO is on it's deathbed. I might be able to save it but lately the HBO shows like Entourage are few and far between. It is funny how when we decide to up our monthly investment deposits how we can find the cash. What the hey, I want to retire by 61 and chill.

[taquitos]

people with ten million dollars mostly suck ass, i would imagine

[cookiepuss]

Loader is the guy that the Opener builds the client up for. He's the so called Messiah of $. He's built up that once a client gets in then he/she has the privilege of talking to this person and guess what? He asks for the big dollars. And gets them. My friend told me that on average 2/6 New $ is from opens and the rest are from Loaders. They're not called "Loaders": They are built up to and from any term that your firm calls them. These are the guys that actually handle the accounts once they're in: The openers open. The Loaders walk them through the dance. This isn't a BKK concept: It all started out of Canada of all places back in the 80's and has gone from there. I know ATL had loaders on deck for a particular service of financial services.

Where are you located?

Back in the Day: there were meet and greet guys that would fly out and meet each client and then load them for the big dough. I got stories if you're interested: Not happy endings either. This was before the Intertubes Digital Age.

You going for Series 7 or what?

Read The Wolf of WallStreet: He's a dick but knew how to play the game.

ahhh now I know why I don't know the term. I'm not in a big enough office. First, our firm is small and independent, second this is a one broker, satellite office. So he is the "loader" so to speak. this office is in California. our base is in Atlanta.

yes series 7, but I may end up taking the series 11 (a sales assistant credential that would allow me to enter trades). I've attempted the series 7, but I'm not a test taker and I came close but didn't pass... plus the broker here doesn't really mentor me in anyway so I learn very little from him :rolleyes:. I may give the series 7 another go...but right now I think I may go back to my roots: marketing and PR. I think I just like it better than finance.

thank you for the book recomendation. I will check it out.

[BangkokB]

Shock your boss on Monday and say that you're sick and tired of being a Fronter. That you're a woman and if there's one thing your gifted at it's getting $ out of mens pockets-Then make up some story about you and your boyfriend. Say this "I'm not here to make friends, I'm here to make $ and I'm talking ____(say his name) kind of $. Now I'm sure that both of us as professionals can agree: I have a sexy voice, I don't piss/whine and moan as much as _____ and I can make us both a lot of $. And correct me if I'm wrong but that's why we're here right?" I say ____ bc rest assured ____ piss/whines and moans about unimportant shit:It's in their nature. Followup with "Here's what you have to lose: Nothing. Heres what you have to gain~ A Financial El Nino. Two weeks is all I ask. And give me that time and I'll prove to you that I'll be your new best friend. You'll name a holiday after me. I can guarantee you that. What are your averaging per month now?" Whatever he says say "And you're happy with that? Why don't we double that without any of the heat? What's the worst that can happen you gave it try. Listen, you know I'm loyal, I've been here ___ long so I'm in this for the long haul but this Mickey Mouse you have me doing right now is not doing neither you nor I any favors. So let's give it a try. Let's say you show me the ropes bc I want to learn from the best and we'll take it from there. Don't thank me now thank me after I've put your quarterlies through the roof"

Another good book is Rigged~ ฺBen Mezrich. That's more about trading oil than stocks but the more you know....