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The Million-Dollar Financial Services Practice: A Proven System for Becoming a Top Producer Hardcover – September 26, 2007

4.5 out of 5 stars 43 customer reviews

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Editorial Reviews

Review

“…information on marketing, prospecting, sales and time management techniques are presented clearly and in great detail. The book is one advisors will refer to often. "

-- Research Magazine



“…filled with valuable information from a smart manager who has been there and done that successfully.”

-- On Wall Street



"...a helpful resource for financial professionals who have the motivation and desire to build and maintain a solid business model.”

-- Agent’s Sales Journal



“…providing clear…processes for defining and implementing proven marketing tactics for financial practices to use as a guideline… give[s] new and existing owners some food for thought.”

Broker Dealer Journal



“… an easy read…providing clear and methodical processes for defining and implementing proven marketing tactics for financial practices…” -- Broker Dealer Journal

Book Description

In The Million-Dollar Financial Services Practice, author David J. Mullen, Jr. reveals how to become a top-producing financial advisor using the method he has taught at Merrill Lynch and is famous for in the industry. This comprehensive book combines marketing, prospecting, sales, and time management techniques into a system that will help readers build a successful and lucrative practice. Mullen gives financial advisors all the tools and guidance they need to:

• get the appointment • build relationships • convert prospects to client • retain clients • use niche marketing successfully • balance current clients and prospects • increase the products and services each client uses • attract millionaire clients

Containing templates, scripts, letters, and 15 tried-and-true Market Action Plans, this indispensable guide shows readers how to take their financial services practice to the million-dollar level and beyond.

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Product Details

  • Hardcover: 352 pages
  • Publisher: AMACOM (September 26, 2007)
  • Language: English
  • ISBN-10: 0814480527
  • ISBN-13: 978-0814480526
  • Product Dimensions: 9.1 x 6.4 x 1.3 inches
  • Shipping Weight: 1.6 pounds
  • Average Customer Review: 4.5 out of 5 stars  See all reviews (43 customer reviews)
  • Amazon Best Sellers Rank: #350,364 in Books (See Top 100 in Books)

More About the Author

David J. Mullen Jr. (Englewood, CO) is the author of The Million-Dollar Financial Services Practice as well as a 30-year industry veteran and former Managing Director at Merrill Lynch, where he trained more than 500 financial advisors. The success rate of his advisor training programs have been significantly higher than the industry average.

Customer Reviews

Top Customer Reviews

Format: Hardcover Verified Purchase
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.
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Format: Hardcover Verified Purchase
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!
Comment 7 of 8 people found this helpful. Was this review helpful to you? Yes No Sending feedback...
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Format: Hardcover Verified Purchase
I am 28 years in the Financial Services busines and wish I had this book from the beginning of my career. My gross was $400K last year and I have been stuck at that level for some time. In my opinion this book gives the reader a precise roadmap to follow to build a successful financial services practice. I just hired a 26 year old rep and told him to read this book 4 times a year for the next 5 years, where he can recite it back and he will get very wealthy.

I have read "Tested in the Trenches" by Ron Carson and Steve Sanduski, which was good. I have read "Effortless Marketing for Financial Advisors" by Steve Moeller which I thought was even better. But if you only read AND FOLLOW one book in order to take your practice to the next level, THIS IS THE ONE!!!
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Format: Hardcover
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
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Format: Hardcover Verified Purchase
This is an excellent resource for the new or seasoned practitioner looking to take their practice to a new level. From tactical plans to midsets, to tips and traicks for the advisor. Drawing on Mullen's decades of experience as an advisor, manager and trainer for some of the largest firms in the country, the success tactics are actionable and specific.

The approach Mullen uses is complete with sample scripts, practical data points historical data and specific best practices that are actionable for the advisor to apply and implement in their practice immediately. The book will give a thought of marketing plans, specificity of market, thoughts of how to target specific markets, as well as the approach to use within the specific target markets.

If you are an advisor, broker, accountant, or other financial services professional, this book will give you great advice, specific best practices and actionable plans to establish, grow and manage their practice. A must have.
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Format: Hardcover
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.
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