Reply to Those retirement planning seminars with free dinner..

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[quote=Anonymous][quote=Anonymous]
I searched and found a WaPo article about it.

https://www.washingtonpost.com/lifestyle/style/is-a-free-dinner-any-way-to-pick-a-financial-adviser/2015/02/11/8aaf7f3a-abb6-11e4-abe8-e1ef60ca26de_story.html
[/quote]

Good find PP.  The details in the article are fascinating.

"He does one of these seminars at high-end restaurants just about every week, costing him more than $400,000 a year. About half the people who attend will come to his McLean office for a follow-up consultation, and many will become clients. The firm, which manages $1.6 billion in assets, generates about 40 percent of its new business from these dinners."

"The Chez Francois meal includes an amuse-bouche, salad, a choice of five entrees, dessert and coffee or tea. It’s expensive — about $100 per guest — but he discovered that if he has a carefully curated mailing list, “it’s worth it for us to spend money on dinner at a nice restaurant, because the quality of people coming is higher.” High-quality prospects are the right age (his average client is 62), live in affluent Zip codes and have some other, surprising indicators that Cassaday won’t share. "

"There are, of course, the people who only come for the food — some more than once. [b]Industry insiders call them “plate-lickers[/b]”

I do wish I could be a plate licker a couple of times, as we fit the demographic profile, but are definitely in the wrong zip code.[/quote]

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