Would it surprise you to know that a boiler room operation that doesn't let junior employees sit down would instruct its employees to cold call potential investors using lines from a script that include such "power phrases" as "This account will come back to you in spades" and "Give me just 1% of your trust and confidence and I will earn the other 99%"? That a place whose founder thought making cameos in Shia LaBeouf movies was a good idea would tell those same employees to say things like "If I am half right, we go out for a steak dinner on you...is that fair enough?"? That that same founder, who has been charged with fraud, in addition to intimidation and harrassment (because he threatened to run over a broker), would coach his staff to respond to someone saying they need to discuss a possible investment with their wife with the line "Let's face it, if you go home and tell your wife that you want to invest with a broker whom you don't know very well, chances are you will be hit with a frying pan and spend the night on the couch"? Probably not! And, yet, it is still an amazing thing to behold. John Thomas Financial's full pitchbook of proprietary comebacks and "closers" can be found here. Our favorites:
Re: Think About It
- "Wouldn't it be nice for once in your life to get there ahead of the major institutions? I'd like you to start a relationship with (firm) and buy (shares) or (stock)."
Re: Have Other Brokers
- "Great! I prefer to deal with qualified investors."
Re: I Only Use Local Brokers
- "Bottom line, I don't care if I am sending you smoke signals from Alaska as long as I make you money. 90% of business today is done over the phone or the internet. You've ordered Italian or Chinese food over the phone, haven't you? Then you have done business over the phone. Believe me, it won't be long before we meet face to face and you start sending me real money, for now start small on my firm's minimum."
- "(Prospect) at the risk of being brash, I will say something you will eventually appreciate. I am not here to be your friend or have breakfast twice a week with you, although I might enjoy it. I am here to make you money and show you performance-- that is the reason I must be in Manhattan and at the heartbeat of the financial universe. Let me have that one opportunity to show you the performance that you deserve. You will not regret it!"
Re: Power Closes
- "(Prospect), I deal with the most sophisticated investors, presidents and CEOs from Maine to California. Decision makers- not accountants, controllers, or VP's. This is not a very difficult decision. We both know you can jockey around and get your hands on a couple of thousand dollars. Let's not kid each other, I didn't just pick up the phone book and dial your number. I know you are a man of substantial net worth or I would have been off the phone 15 minutes ago. Groping for excuses not do this serves absolutely no purpose! Right now, (stock) has tremendous upside potential for reasons you already know. Opportunities like this do not come around every day. Pull the trigger on (shares) with a (amount) downside. Allow me the privilege to guide you in at exactly the right price, but more importantly what other brokers do not do, guide you out over the short term with a nice profit. Over the next 12 months you are going to realize this was the best call you have ever received from a broker. You are going to than me for giving you a little push you needed toady. Give me the shot and you will be very impressed!
Re: Power Phrases
- "I am a successful broker and I make a very good living. Do you know why? It is because my clients are successful because they listen and move on my recommendations and more importantly I guide them out at the right time."
- "I want to be the one to tell you about opportunities before you hear about them somewhere else, like the golf course."
- "This isn't something I want you to do; this is something you need to do for yourself."
- "Give me just 1% of your trust and confidence and I will earn the other 99%."
- "This account will come back to you in spades"
- "If I am half right, we go out for a steak dinner on you...is that fair enough?"
- "You can buy this with your eyes closed!"
- "We know what we're doing..."
- "That's the whole key!"
- "Has any investment banker given you a better presentation than I have?"
- "I'd call that a Major League homerun, wouldn't you?"
- "You are going to make money in the biggest bull market we have seen since 1933."
- "The worst decision is no decision!"
Re: I Have Been Burned Before
- "I can promise you one thing, you have never received a phone call from somebody as substantial as myself. If you knew me, I mean really, really knew me, you would be buying 5,000 shares."
Re: Market Concerns
- "I don't like the market either. I like women so I agree with you. Let me ask you something. What do you do for a living? Why do people do business with you? That's why people come to us and do business with us-- because we are the experts!"
Re: Not Liquid
- "You are giving me every excuse to get off the phone right now but that is not going to work! I am probably the longest conversation you have ever had with a broker in the last 6 months, including your own. Because you know that I know what I am talking about."
Re: I have three kids in college
- "Congratulations, with the problems in today's society, that is a major accomplishment. However, I am not asking for you to take a 2nd mortgage on your house or to sacrifice your first born. I am simply asking you to take a small portion of your disposable income to pick up (shares).
Re: Send Information
- "Should I send it to your home where your wife will throw it out or to the office where you will put it by your merchant banker book that you never read either?"
Re: Speak to My Wife
- "Let's face it, if you go home and tell your wife that you want to invest with a broker whom you don't know very well, chances are you will be hit with a frying pan and spending the night on the couch. However, once she sees my brochure from the firm and a dossier that I send you in the FedEx package with a buy confirmation, what do you think she is going to say? Besides, it is a lot easier to beg for forgiveness than to ask for permission, right?
Re: Stock Scripts And Closes
- "The law of averages say that you have to sift through 100 brokers before you find the one that can make you money consistently. Well, I have got to tell you that the search has ended. Start out on 100 shares, and once you realize the value of our research and the level of dedication to our clients, you will never want to open another account again!"
Secrets From The Sexist Pitchbook Of One Of Wall Street’s More Notorious Firms [BuzzFeed]
Related: “Brokers who show up with stubble are sent to the bathroom, where a bow-tied attendant dispenses razors, cologne and candy.”; Boiler Room Operator Who Doesn’t Let Junior Sit Down, Thinks Cameos In Shia LaBeouf Movies Are Good For Business Shockingly Charged With Fraud; If Threatening To Hit An Employee With His Car Is Wrong, Tommy Belesis Doesn’t Want to Be Right