In a typical investment related boiler room, the "Brokers" (salesmen) will make repeated phone calls implementing his or hers latest sales techniques
for the sole purpose of defrauding unsuspecting investors. Brokers are expected
to follow pre-witten scripts and only give investors the information it contains, investors
are discouraged from doing their own research, and are told to rely on the firm's research and representations.
Many boiler rooms are run like military operations, brokers are expected to spend
long hours on the phone and generate new business daily, new accounts are
known as “Opens”. and brokers that fail to generate enough opens are fired.
It is not unusual for a broker to make up to 250 calls per day, this will be reduced considerably if the quality of the conversation is progressive, as this will take more time.
Most boiler rooms have leads pre qualified by unregistered cold callers, this frees
up more time for the broker to make calls that are more likely to produce results.
The integrity levels that exist in most most boiler rooms actually results in most employees and operators, brokers and qualifiers rarely trust each other!
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