Customer Reviews

The Million-Dollar Financial Services Practice: A Proven System for Becoming a Top Producer

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1 star:		(1)

 

 

I must not have read the same book as the other reviewers or I did not work with Mr. Mullen. I ordered this book looking for great things after reading the other reviews. I was sadly disaapointed. This book could be summmed up on one page.

The what: have 20 years to chase people with at least $250,000 to invest in modern portfolio theory. The How: You accomplish this by contacting 100 prospects (people you have met and would be open to meeting with you again) at least twice a month. Once via a phone call, letter or email. Once via a drop by in person. Raise at least $120 million with an ROA of .8% and you have a $1 million dollar practice. His scripts are very different than the ones on his website and the 15 marketing plans are a joke. For example, Mr. Mullen states that 52% of the millionaires in the US are business owners and he spends 5 pages on a marketing plan with three of the pages scripts. Where is the detailed step by step plan.

Great promise, not much substance.

Save your money and DO NOT BUY THIS BOOK!!!! I would be curious why Mr. Mullen is retired and why Merrill Lynch would let him if he has worked and produced so many great advisors.

Dave Mullen has spelled out a tactical blueprint for financial advisor success.

It does not matter whether you are at a wirehouse, a regional firm, a financial planner or an independent B/D-RIA; I believe the tactics described in this book will help any serious and motivated advisor increase their business.

I have many years of management experience and I found myself very impressed. I was highlighting and underlining important ideas that will help me grow my practice. This book has become a favorite reference book in my library. I recommend it to every level of FA in the business that wants to grow.

Robert Spicer
Executive Vice President
First Financial Equity Corporation

Former Area Manager and Executive Director, Morgan Stanley

I have been in the business for over 20 years and have continued to refine and grow my practice by applying successful techniques and processes aleady designed by other successful Advisors. This book by Dave Mullen is in a class of its own. Through the countless books, seminars and weekend training retreats that I have utilized to improve my practice..."The Million Dollar Financial Services Practice: A Proven System for Becoming a Top Producer" cuts to the heart of the matter and addresses "Doing the Right things everyday...providing clearity of vision, process and discipline." It's the "Best" I've ever read!

This book fills the void left by "sink or swim" training traditionally used by our financial advisory firms.

Dave's inspiring nature shines through in this text to make us Financial Advisors feel like anything is possible! He gives us the tools to play to our own strengths and capitalize on our own interests and contacts to build a quality wealth management practice. From scripts to bigger picture planning, this book not only inspires us to make changes in our business, but also gives us the tactical tools to do so. I would recommend this book to every Financial Advisor, including those of you at the beginning or somewhere out in the middle of your careers.

Read this book!! I believe it will give you hope and a plan for bringing your vision for your practice into reality.

Dave Mullen Jr. has put together the essential steps to success in the EXTREMELY difficult process of building a financial services practice. I am one of his disciples and the concept of clearly defining your market action plans, understanding that it takes 100 clients that are constantly being upgraded and 100 prospects that are constantly in your pipeline is the key to success.

Reading the book is step one, consulting directly with Dave Mullen should be your next step. Bravo for a process that works if you are willing to commit!

Howard Hissrich, CFP(r)

I am just beginning my career as a financial advisor and I have found that this book has been very useful in providing the basic steps and fundamentals on building your client base. There are no short cuts in this financial services industry but better planning goes a long way to being successful. In general I feel that this book gives you excellent advise on how to go about getting a solid understanding on what you need to do to be successful as a financial advisor.

I met David Mullen several years ago in his Merrill Lynch office in south Denver. A colleague and I visited with David for a couple of hours and enjoyed lunch and a enlightening conversation about Mullin's views and support strategies he was implementing for and with the financial advisors under his charge. I smiled as I read through this book hearing many of the same practices and methodologies he shared with me then. This book is about proven system. Mullen has helped hundreds of financial advisors become successful and achieve the pinnacles of their careers.

Anyone who is new to the financial services business, or is thinking about switching to a career in financial services would do well to read David J. Mullen Jr.'s very helpful handbook on how to become a top producer in a million-dollar financial services practice. As a former regional manager with Merrill Lynch, Mullen gained experience working with several top producers and summarized what he learned from them in this book. As a managing director at Merrill Lynch, Mullen hired and trained more than 500 financial advisers.

Mullen cuts to the heart of the matter by spelling out in detail what needs to be done every business day to achieve success. On top of the list are self-discipline and clarity of vision. After providing an overview in chapter one, Mullen takes the reader step by step along the path of developing a million-dollar practice. Most of the advice is very specific - how many qualified prospects you should keep, how much in new assets you should get under your management each month, and how many appointments you should make for each new week. And, throughout the book, Mullen stresses that there are no shortcuts in the road to success but there are clear right steps to take and each step must be taken.

Besides being very specific, the author also takes a global, comprehensive approach when covering such broad topics as sales, prospecting, marketing, and time management. The broader looks produces his system that offers "how to" advice on such things as getting the appointment, converting prospects to customers, balancing current customers with prospects, building relationships, retaining customers, using niche marketing to your benefit, increasing the services each customers depends upon you for, and attracting millionaire clients.

Mullen also provides sample letters and model scripts that are proven templates to success. The sample letters and scripts are why many of my friends are keeping Mullen's book on their desktops to be referred to often. Especially useful for repeated reference is the his15 Market Action Plans. The templates alone provide reason to buy this book but the real benefits are those gained from paying attention to the advice of a man who has succeeded and wants you to succeed also.

By Darin Manis
CEO and Founder
RJ & Makay
www.rjandmakay.com

Just recently licensed, I was searching for a book to help me get started, since I will be working as an independent financial adviser. Ordered this book because of the high reviews and I have to say this book did not let me down. It was better than I expected. This book breaks down exactly what you need to do, step by step, to grow a million dollar practice. My favorite chapters were the first (Overview) and the third (The numbers you need to succeed).

The Overview basically tells you what to expect, explaining that as a new adviser 70% of a 10 hour day should be spent on marketing. Also provides a break down for your weekly marketing goals, time commitment, and target markets.

The Numbers chapter breaks down how many appointments you must set weekly, how much assets you must get under management on a monthly basis, the minimum qualified prospects to keep, and a specific road map to growing your business to a million dollars.

The book also contains marking plans, scrips to help you get started and much more. This is a great book for any new adviser that is serious about growing their business to a million dollar practice!

I picked this book up as I was interviewing to become an FA. It gives you a lot of very detailed advice about what you need to do to be successful in financial sales. I would highly recommend for anyone interested in getting into the business. It will help you impress the brokerage firms when you interview with them if you can come in with this knowledge.

As a Manager in the business and a producer, this is the bible on how to be a good advisor. Dave Mullen has great content and the book is written by someone that has done this. Its not just smoke. I use this book to train people and all his material. I was skeptical at first but if you are interested in a career in this industry , read this book. If you want to take it to the next level read both of his books.