(1). Stock broker … who also might sell insurance.
“Okay, guys … we really want to start targeting high-net worth individuals this year. So, we’re going to start calling you ‘wealth advisors‘ to show you do more than push product. That said, keep pushing product.”
(1). n. A potential client which is currently being courted by a salesperson. Prospects are generally treated as the most important person in the world during the marketing phase of the relationship. However, once the prospect becomes an actual client, they will receive the same half-interested, annual-meetings-level of service as any of the salesperson’s other clients.
“I’ve got this huge prospect I’m working on right now, Jeff. I don’t want to count chickens, but I’m feeling Bentley right now!”
(2). v. A gold-mining inspired term meaning to seek out new clients, either through direct marketing (i.e. cold calling) or networking (i.e. volunteering for a charity in hopes of meeting new clients). As with gold mining, prospecting often leads to several dead ends, fool’s gold deposits (i.e. clients who lie about their net worth) and occasionally, a gem.
“Sup, Lo-Dawg. I’m gonna need a couple hits for tonight. Going out prospecting at the clubs, yo!”