Broker Facts Excerpts... Read One From Each Chapter!
Please note: Most of the excerpts below are verbatim excerpts from "Broker Facts... a guide for the aspiring stockbroker". In some cases the excerpts are shortened paraphrases designed to briefly express the point of the excerpt in a shorter period of time than is found on the actual program.
Introduction
"Welcome to Broker Facts… My name is Warren Arthur… a very wise man once said… that Wall Street… is a place where people who ride in Rolls Royces… take advice from people who ride the subway… that wise man's name is Warren… BUFFETT… if you think you need an MBA from Harvard to be a stockbroker, then YOU need to get the FACTS!"
Is Being A Stockbroker For You?
"a number of years ago a major firm… we won't mention any names… well... I might give you a hint... you might think of this firm as the LAND OF THE BULL... they had done a survey of their clients to find out why it was they were doing business with the brokers they were doing business with. They asked the clients a series of questions... such as... do you do business with your broker because he makes you money? Do you do business with your broker because our firm offers an excellent service? Do you do business with your broker because he is knowledgeable? And you know something? The number one answer was NOT… "he makes me money"! The number one answer was... "because… I LIKE HIM"!!!
Mind Set
"If you believe you can do something even before you set out to do it, then you will in fact accomplish it… and the reverse is also true… if you are convinced that you can't do something, then there is no question about it… you won't…you must be absolutely positively pre-convinced of your own ability to succeed before you go on the very first interview"
The Direct Approach
"When weighing whether to use the Direct Approach versus the Indirect Approach, I will tell you that the Direct Approach is probably the most difficult way to go… but there are positives and negatives associated with both.. and we will discuss them all at length.."
The Indirect Approach
"First of all... using the Indirect approach… you must be absolutely certain that you are connecting with the right people… I don't think I can stress that enough… the people that you connect with should be pros… pros that handle that telephone as though they were born with it as an appendage in their mouth"!
The Series 7 And Series 63 Exams
"If, for whatever reason, you cannot pass the Series 7 exam, there is a far less difficult - what I will call - "test of last resort" that you could take (and I'm NOT talking about the Series 63 either). It will permit you to do business in most states, but the scope of your business will be limited... let me tell you what it is..."
Large Firms Versus Small Firms
"There is a cardinal rule in our business that exists throughout the industry, no matter what firm you are working for, big or small. This rule tends to fall on the negative side of the ledger at the large firms for someone who is just getting started… and this is what I mean…"
Compensation
'When it comes to compensation, the large firms tend to use sliding scales. The small firms tend to pay one flat rate. Now, let's talk about specifics..."
Getting The Interview
"At the larger firms with multiple offices within any given geographic area, there is a little trick you can use to your advantage. Yes, it is a trick, but all is fair in love and war… and you will be telling THE TRUTH"!
Dressing For Success
"Anyone can go to a discount clothier and buy a very nice suit, perhaps European at that, at a discounted price… but do you know what people who have money and care about dress are going to look for? Let me tell you so that YOU can capitalize on it"!
Questions To Expect On The Interview
"When you hear THIS question… keep in mind… this is a goals oriented business… so before you answer… let me give you an example of what NOT to say"!
Questions To Ask On The Interview
"This question is CRUCIAL. The answer can mean the difference between building your business virtually overnight… and having to slug it out the HARD WAY! Would you agree that quicker is better"?
Good Luck
"I am a capitalist… however, one of the reasons why I created this program, in addition to making money, is that I sincerely enjoy helping people. Please let me know how you are doing at any point after you have listened to our program. Send me e mail at warren@stockbroker-employment.com. I enjoy hearing what impact I have had on those who thought enough of me to order my program. I, in turn, ALWAYS respond to e mail… personally… and promptly! All the best of luck until we meet again"!
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