No More Pies!
A "No Apology" Investment Strategy
Success Story
by
Jason Roberts
September 12, 2009, Jason Roberts (not his real name) is an FA at a national wirehouse. He attended NMP-1. It changed his life and added (so far) $160,000 in annual fee revenue to his business. Since he is employed at a major firm, he requested I withhold his firm name and city. But he will be happy to talk with you individually if you like.

Bill,

I attended the original “No More Pies!” seminar in Utah from June 25th thru June 27th and, after six weeks, I want to provide you with an update on how the seminar has changed my practice.

First, I want to give you a little background about my practice prior to attending your seminar. 2008 was my best year in the business for gross production. In the 13th year with my firm (and 14th year in the business), I was able to crack $700,000 in production despite the market turmoil, my firm being "bailed out," and my office being closed for 12 business days because of a direct hit from a category 3 hurricane. The Bill Good Marketing System® enabled me to survive all of the aforementioned malaise because it gave me the ability to stay in touch with all of my clients when they needed me most (even when I didn't have electricity for 10 days).

The start of 2009 proved to be equally challenging because, as the market volatility continued, it became more and more difficult to provide investment solutions with confidence and conviction. Nothing in the markets seemed to be working, and I felt like a "deer in the headlights" as I watched my production drop by almost 40% in the first quarter.

Then I received the invitation from you to attend the No More Pies! seminar. I paid little attention to the first invitation and read the second invitation with only passing interest. The third invitation caught me at a particularly weak moment after I had lost a large client. Upon leaving, the client made it evident that the lack of timely investment advice regarding his retirement plan was his main reason for leaving. He stated that if he was going to continually get advice to "hang in there", "be patient", and "be a long-term investor" as his 401(k) became a 201(k), then he was going to take his chances and manage the money on his own. In his opinion, the "buy-and-hold" strategy that Wall Street promotes is really a "sit-and-take-it" strategy for the average investor. In discussing the situation with the client, I felt like I was in a battle of wits and I was the unarmed contestant. In my heart-of-hearts, I knew that I didn't have a solution to offer him regarding his portfolio.

The following weekend I read the No More Pies! invitation through a different lens. After experiencing the pain of losing a client, I decided I would investigate No More Pies! and Dorsey, Wright & Associates a little further. After reading all I could, and speaking with your sales team (including Ric Lager), I decided to sign up for the seminar.

Attending the seminar has saved my practice, and the best way to prove it to you is to share the stats. Since returning from the seminar 6 weeks ago, I have been able to meet with clients and prospects and share the No More Pies! strategy. I have met with 21 clients and 6 prospects. Of the 21 clients, I have moved just under $10-million into a fee-based, discretionary investment strategy with an annual fee of 1.60%. Most of these clients were in cash, CDs (certificates of depression, as I like to call them) or "buy-and-hold" mutual funds that we were all hoping would recover in due time. Of the 6 prospects, all 6 have agreed to either rollover their money from their 401(k)s or transfer their accounts from another firm. Over the course of the next few weeks, I will have new assets of $3.6 million transferring into the fee-based strategy. My practice currently consists of over 200 clients with close to $90 million in assets, so I still have a long way to go in fully implementing the strategy with the rest of my existing book of business.

The restoration of my confidence and conviction is directly attributable to No More Pies! For the first time in my career, I have had a mutual fund wholesaler ask me if I would be willing to manage his family's money. His family has over $500,000 in investable assets, and we're meeting next week to sign the transfer papers. Also, after learning about the strategy with my clients, a fellow advisor in my office asked me if I would be willing to work with one of his clients that has over $4 million in a retirement account, because he is afraid of losing the client due to the same "deer in the headlights" feeling I had before attending your seminar.

As I stated earlier, the seminar has changed my practice and I owe you a very big "ThankYouVeryMuch!" With a little more than 3 months left in the year, I expect to finish the year either slightly down (-5%) or flat in gross production. Before the No More Pies! seminar, I would not have been able to have any confidence with that declaration.

If you have any advisors that are sitting on the fence with regards to attending the No More Pies! seminar, please feel free to share my sentiments.

Thanks for all that you do.

Sincerely,

JD

P.S. I would be remiss if I didn't mention that I was initially apprehensive about charging my clients 1.60% annually to manage their assets despite my confidence in the strategy. In the first 6 weeks of implementing the strategy, I now realize that I could have charged a lot more. The overwhelming response from clients has been that this type of strategy is exactly what they have been wanting and the timing could not have been better. None of my clients and prospects have even momentarily hesitated with the annual fee.