Door to Door

Yesterday afternoon we heard a knock at the front door. The young woman who called noticed that Maria was already talking on the phone.

She cut her sales pitch short and promised to come back later. On her way out, she mentioned that she was a financial advisor looking to build her business in town.

We get our share of door to door sales pitches but this was a new one. Usually it’s someone selling electricity contracts, frozen meat, lawn services or salvation. But financial advice?

 I believe this lady was a sales rep from Edward Jones, as they have an Almonte office and from the look of things train their people to go round the neighborhood to introduce themselves.

I’m not sure how successful this approach would be in our neighborhood, composed as it is of retirees. Those who have a financial advisor probably have used one a long time; those who don’t are likely so risk-averse they just go to the bank and get a GIC.

Certainly, her chances with us are zero. It took a long time to find the one we have now. Our guys are experienced, use an approach I agree with, and I feel they will put our interests first. I don’t want to change to someone who calls at my front door.

From what I have read the Millennials will be an even tougher sell. They don’t trust anyone, want to DIY everything, or they go for robo-advisors like Wealthsimple. That’s if they invest at all. Most of them think real estate is the only way to go.

I guess we’ll see if the EJ lady will come back and what her sales pitch is. I don’t really want to waste her time though.

According to the stats for every 100 cold calls, the new Financial Advisor gets 10 leads, 87 polite declines, and 3 jerks. Count me in the majority.

If she’s not out wearing out her shoes, she would have to be on the phone making unsolicited calls. Either way, it isn’t something I’d choose as a career – not with the markets the way they are right now. I wish her all the best.

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