Some agencies win clients by inviting decision makers to Formula One boxes, but Neil prefers the way banks play the wine and dining game. Bank of America sent his CFO to a World Cup game with the hotel paid, and Wells Fargo offers suites and seats after the deal is done, just to say thanks. Then a competing bank tried to match Wells Fargo's refinance offer at the last minute, after months of saying no. Eric shares a group text pitch dressed up as comparing notes, and Neil tells the worst pitch he's heard: a financial advisor chasing a friend's $25M house sale and eight-figure profit with one cherry-picked account and a stock that barely moves down. A blunt episode on relationships and selling.
Key takeaways
◾Thank-you tickets with no pitch keep clients around
◾Match the offer early, because last-minute fixes come too late
◾Be direct when you sell, and show all your numbers
Chapters
00:00 The wine and dining game
00:47 Competitors win clients with Formula One boxes
01:30 Bank of America sent our CFO to the World Cup
02:32 Wells Fargo offers tickets after the deal
03:39 Tickets with no sales pitch keep clients
04:44 The bank that came too late
05:48 Too little, too late, like a bad hire
06:33 Steve Jobs to Tim Cook: do the right thing
07:18 Group texts gone wrong
08:49 Selling while pretending not to sell
09:50 The worst sales pitch
10:52 One client account next to Buffett and Ackman
12:05 70% leverage and 'it barely moves down'
12:58 AI showed the stock drops far more often
13:44 Big investors get deals you don't
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