Answers to Your Most Common Sales Objections


For many small business owners, selling doesn’t come easy. In fact, for the majority of people, making sales calls and developing air-tight pitches is stressful and challenging. While there is a certain level of natural skill and personality at play, many shortcomings can be compensated for by understanding common sales objections and how to address them.

Businessman portraitAs a salesperson, it is your responsibility to uncover what is stopping a potential client from making a purchase decision. In most cases, this means answering the following objections with clarity, understanding, and patience:

  • Price. By far, the number one sales objection has to do with price. You will frequently hear something along the lines of, “Your products cost way too much and I can get the exact same service from someone else for much cheaper.” If that is a true statement, your best option is to justify the cost of your products or services. Try breaking costs down into smaller amounts and carefully explaining what they get for each dollar.
  • Lack of authority. The second most popular sales objection is, “I’ll have to discuss this after consulting my manager/boss/partner.” If you let them walk away from the table and consult other sources, you may lose a sale. Ideally, you should tell them to invite that person in or setup a joint meeting in which you can all discuss the sale together. You can usually accomplish this by claiming you have a special deal that can only be offered and signed off on if presented directly to the CEO or manager. This usually gets you in the door and allows you to present appropriate terms or discounts.
  • Complacency. Do you ever hear potential clients mention a fear of change? It’s usually guised in a statement like, “We’ve been doing it this way for 20 years and I don’t want to risk messing it up.” The best way to kill the complacency objection is to provide ample examples of when change has been good for your business, their business, or some other well-known company.
  • Bad timing. A classic objection is, “We’re too busy to get involved with this right now. Contact me next quarter.” This is often the easiest objection to overcome – if it’s actually true. Simply light a fire under them and make the offer so compelling they can’t wait any longer. It’s amazing how much time a customer will make for you when he or she has a clear understanding of how the sale will benefit them.
  • Trust. One of the most difficult objections to overcome is trust. In many cases, a new client will want proof that you can handle their sale. You can overcome this objection by presenting case studies, testimonials, and honest answers to tough questions.

Understanding Objections

While these are five examples of common objections, it’s equally important to understand the different types of objections. According to Brian Tracy of SuccessNet Online, there are 9 different types. From unspoken and excuse driven objections to honest and subjective objections, each person has a different way of objecting. Your success as a salesperson largely depends on your ability to decipher one from the other.

Making the Sale: How the Best Sales Reps Do It

For traveling sales reps, sales have to be made quickly to ensure success. Having a few strategies to fall back on as a sales person makes the job much easier. This article will examine some sales strategies that you may find useful for your repertoire and show you how and when to use them for best results.

Be Personable


The first tip is less of a strategy and more a way of life. While it comes naturally to some and is foreign to others, being personable is a characteristic that you can learn, refine, and perfect. Here are a few tips for being personable when interacting with potential clients:

Start from the beginning. First impressions go a long way in business – as in life – and your ability to be personable from the start will help you in the long run. This means showing personality and emotion instead of retaining a strictly business mentality.

Find middle ground. Being personable – as the name suggests – requires you to share yourself with others. One of the best ways to do this is to let people know you as a person. Do you have a family? Hobbies? Interests? Share these with people and find common ground to discuss things that aren’t work related.

Stop following a script. Sales scripts and processes are useful for training, but rarely work in the field. In your effort to be personable, you have to be willing to ditch the script and take unique angles. This requires knowledge of your product from the inside-out. As a result, your expertise will enable you to adapt your pitch to whatever is most relevant to your sales target.

For those people who are not naturally personable, it’s important to push beyond hesitations and force yourself to communicate. Understand that most people respond well to compliments and naturally enjoy talking about themselves. When in doubt, ask questions and put the focus on their responses.

sales-repEncourage Quick Commitment

Any experienced salesperson will tell you that the longer a potential customer thinks about a deal, the less likely they are to follow through. Doubt naturally creeps in the longer someone contemplates a decision, and it’s your job to diminish this doubt by reducing the amount of time they take. Encourage quick commitment by adding an appropriate sense of urgency. This can be done by offering a limited time deal or bonus for reaching an agreement. You want to communicate urgency without pressuring the target into a position they don’t want to be in.

Hush! Start Listening

Salespeople are known by many for being loud, constantly talking, and never listening. Imagine what would happen if you flipped this notion on its head? Try talking less and listening more, and you’ll learn what your customers are looking for. Then, take time to develop a calculated response that addresses their needs and pain points.

Know When to Walk Away

Nobody likes to walk away from a potential deal, but it’s a skill every successful salesperson has perfected and used at one time or another. Treat every potential client like a long-term customer, and you’ll quickly find that immediate results aren’t always necessary to turn a profit. For example, when a target becomes agitated or visibly frustrated, it’s time to walk away. Frustrations have a way of boiling over and causing damage in the future, while they will almost always heal with time if appropriately dealt with.

Study, Study, Study

In the sales world, there are generally three types of salespeople. There are those that have a deep understanding of the products or services they sell but little personality or sales skills. There are those that have tons of personality, but little knowledge of what they’re actually pushing. And then there are those that have equal parts knowledge and sales skills. While you ideally want both, you want to start with knowledge of what you’re selling. Become an expert, and people will see you as a source of information, not just an advertisement.

By understanding each of these strategies and tips, you will be on your way to becoming a more successful salesperson in the coming year.

Dress for Success: What to Wear in the Field

Fashion Do’s and Don’ts for Sales Reps

Field sales reps travel all over, and the job necessitates making a strong first impression. This means that wardrobe matters. What are the best practices for clothing, grooming, and presentation as a field sales rep? Let’s find out.


What to Wear

As far as determining what to wear, your choices will likely be dictated by the industry you are in and the function of the meeting. Ideally, your attire should be neat, clean, and professional. Depending on the situation, it may be appropriate to go causal, but never underdress for the occasion. Whenever you are in doubt, overdressing is much preferred.

When dealing with a client who operates out of a large distribution center, khakis and a tucked-in polo shirt is usually appropriate. However, when making a sales offer to the CEO of an accounting firm, a suit and tie is best.

For women sales reps, professional attire requires a suit, skirt, dress, or blouse. When opting for a skirt, the length should hit just below the knee. In terms of colors, black, grey, navy, and white are safe, traditional choices. Shoes should be polished and closed toe. For a more casual meeting (i.e. the distribution center sales call), dress pants and a conservative blouse are appropriate.

For men sales reps, professional attire consists of a pressed suit – black, khaki, or grey – tie, button down shirt, and polished shoes. When choosing a business casual outfit, you can either ditch the jacket or the tie, but never remove both. For patterns, it’s best to avoid clashing designs and to coordinate attire based on color scheme. Stripes and plaids should never be combined, unless for a small accent.


Tips for Grooming

For men, proper grooming plays a major part in dressing for success. Maintaining a neat appearance shows that you care about yourself and those around you. You should either be clean shaven or have a neatly trimmed beard. A beard that is neatly trimmed has a distinct line at or just beneath the jawline and is evenly cut throughout.

Fashion Accessories

While most salespeople have the professional dress routine down, it’s common to run into problems when it comes to fashion accessories. Both men and women frequently make mistakes in this area, and it can have major effects on a first impression in the field.

Women may wear their wedding rings and small earrings if so desired; however, anything past this may come off as showy, distracting, or tacky. Men should also keep jewelry to a minimum, accessorizing with a nice watch and wedding band if applicable.

Outside of jewelry, it’s important for both men and women to bring along a small briefcase or leather portfolio. Not only is it useful for keeping your documents organized, but it shows a certain level of professionalism. You can store sales catalogs, spreadsheets, brochures, endorsements, and more inside your briefcase. If you don’t really need a brief case but want to carry one as a statement of professionalism, you can use it to store personal items you don’t want to carry in a purse or on your person.

Making the First Impression


In addition to dressing for success and knowing what not to wear, it’s important to make a solid first impression from the very start. Introductions are always key, and they set the tone for the rest of a meeting.

When meeting a potential customer or client for the first time, remember four aspects: posture, handshake, eye contact, and body language. As soon as you walk in the room, your posture will say a great deal about you. A slumped or tense posture portrays meekness and fear. A strong posture, on the other hand, shows confidence. Your handshake should be firm and last anywhere from two to four seconds. Eye contact should be maintained throughout conversation, with only brief breaks.

Finally, your body language should be warm, inviting, and professional. This requires you to smile occasionally while maintaining composure at all times. Additionally, avoid closed poses like hands in pockets and folded arms. When talking, use your hands as a form of expression, but never let it be a distraction. Hands should remain between your chest and neck and never extend too far in the direction of the person you are speaking with.

Putting it All Together

As a salesperson, much of your success will depend on making strong first impressions. Next time you’re in the field, remember to be aware of how you groom yourself, what you wear, and how you present yourself.

On the Road Again: Tips for Traveling Sales Reps

Field sales representatives have to spend a lot of time driving. Hours on the road can be tiring and can eat away at one’s wallet with gas and service charges. However, spending a lot of time on the road doesn’t have to be a bad thing. There are strategies for frequent drivers to make time spent on the road productive, energizing, and even fun. If you’re a sales rep who spends a lot of time driving, consider these tips for a better driving experience:

Save on gas.

curveRegardless of what kind of car you have, there are ways to maximize gas mileage. Even if you’re not paying for it out of pocket, chances are your company wants you to do what you can to save. To help your gas mileage, don’t be aggressive – conservative driving can improve your fuel performance by 33%.

Avoid frequently accelerating, decelerating, and speeding; after you go above 50 miles per hour, gas mileage decreases. Using cruise control will allow you to maximize fuel efficiency and avoid unnecessary braking. While highway speed limits will force you to travel well above the 50 miles per hour threshold, you can still save by using the right lane and going as close to the posted limit as possible.

There are plenty of apps on the market to help track your driving behavior and find the best priced gasoline nearby. Tracking your driving tendencies with third-party technology gives you an objective view on how you’re performing. As for fuel prices, Gas Buddy is a popular free app that locates nearby gas stations and gives you real-time price quotes. It can be downloaded on Androids, iPhones, and BlackBerrys and is one of the most intuitive apps of its kind.

Maintain your car.

You’re going to spend a lot of time in your car as a traveling sales rep. Maintaining a clean and functional car makes this time much more enjoyable and less stressful. Stay on top of things like regular checkups, oil changes, and tire rotations. By having your car tuned on a regular basis and maintaining the optimal tire pressure, you can increase performance and avoid unnecessary setbacks.

Stop and stretch.

Recent studies show people who sit all day die younger. These studies mainly focused on people in the office, but the fact applies to drivers, too. Spending long hours in the driver’s seat can be detrimental to your health. It also can cause muscle stiffness and back problems. On long road trips, it’s good to stop often, get out of the car, and walk around for a few minutes. This will also energize you, so you won’t be overly fatigued at the wheel.

Try an audiobook.

Sales reps are busy. There’s only so much time in the day for leisure activities like reading. However, one advantage of driving is the ability to listen to audiobooks. More books than ever before are available in audio form, so if you find long drives boring, listen to a book you’ve been waiting to read.

Treat yourself.

Coffee-DessertThere are lots of places to eat off a highway. An ice cream, burger, or other treat can make a road trip a fun occasion.

…But don’t overdo it. If you’re driving frequently, you’re going to be tempted by fast food. It’s the easiest food available for drivers, and it’s cheap and tastes good. Unfortunately, eating fast food habitually can lead to health problems, like hypertension. It can also make you fatigued, as the simple sugars in a lot of fast foods have this side effect. Try packing your own meals to avoid eating fast food too often.

Being on the road doesn’t have to be a drag. Your time driving can be fun and engaging, as well as a money saver, if you follow these tips.

Inc. Magazine Honors 2013 Top Job Creators- Impressive Crop of Companies Created 51,327 Jobs

February 7, 2014

The Retail Outsource Garners 2013 Hire Power Award Adding 152 Jobs in just 18 Months

Inc. Magazine ranked The Retail Outsource, LLC of Coral Gables, # 87 nationwide in job creation, #4 in the Retail segment of the Best of the Best Retailers in America, and #7 in Florida among the top 100 Florida Companies, in its 32nd Annual Inc. Hire Power Awards. This prestigious list is an exclusive ranking of the nation’s best job creator companies and represents the most comprehensive listing of leaders by industry, by state.

“I am extremely excited to receive such an important milestone award – especially during such a challenging time for job seekers in America. We feel we are helping to change the national outlook on unemployment and contribute to a sense of optimism in the job market. We have been very fortunate over the past several years to have had the opportunity to grow our customer base which, in turn, allowed us to bring on many more employees.” Brett Beveridge, Founder and CEO, The Retail Outsource.

Details of the remarkable story of job creation by The Retail Outsource Company is available online at

The Retail Outsource Company CEO Beveridge continues, “We strive to staff and manage the highest quality retail representatives, and most knowledgeable outside sales associates. We also provide managed sales teams that support our retail clients and sell anything external, such as B2B, B2C, and more.”

About Us: The Retail Outsource creates a custom sales system including everything from how customers are greeted, operational procedures, all the way through to aftercare programs. TRO specializes in building high performance sales/support teams for retail and outside projects. They also staff and successfully manage retail stores on behalf of their clients. T-ROC and its affiliates provide total sales operation solutions. The Retail Outsource Companies include Mobile Insight – real-time field reporting and business intelligence, The Consumer Insight – full-service customer experience analysis, and SYMBITS – managed IT services. Working in synergy, these four companies form a complete ecosystem: running, managing, and maximizing the productivity of retail efforts.

Brett Beveridge, CEO of The Retail Outsource, Talks Retail Business on Inflight Radio TALK BUSINESS 360

February 7, 2014

An interview with Industry Innovator Brett Beveridge, CEO/Founder of The Retail Outsource
Companies, is airing worldwide on TALK BUSINESS 360 – an inflight radio channel on American Airlines and US Airways featuring current business news for a variety of industries.
 Airing during the heavily traveled 2013/2014 Holiday season, Beveridge’s message has the potential for touching 9+ million business travelers and leisure tourists on 61,352 flights. Retail Store Operators not satisfied with their store performance and seeking positive changes in 2014 will beespecially interested in this interview.

“TRO University is the centerpiece of our business and it combines art and science to provide the best, most experienced sales associates in your stores. We do that by creating a sales system, not   just sales training, for your retail concept. Including everything from how customers are greeted all the way through to aftercare once the sale has been made.” Brett Beveridge, Founder and CEO, The Retail Outsource.

During busy times of year, such as the past Holiday season, retail owners may have been made aware that their current sales POS systems are just not performing efficiently enough to give a positive buying experience. They may be wondering why their sales did not meet their seasonal projections.

With the help of The Retail Outsource Group of Companies, retailers across the US can dramatically optimize retail store operations. (

In his interview, Beveridge explains that the mission of the Retail Outsource is to give their customers feedback and recommendations that will help them run their retail business more effectively. Services include physically operating the retail store for them anywhere in the United States with a trained team of retail sales specialists.

About Us: The Retail Outsource specializes in building high performance sales/support teams for retail and institutional projects. They also staff and successfully manage retail stores on behalf of their clients. T-ROC and its affiliates provide total sales operation solutions. The Retail Outsource Companies include Mobile Insight – real-time field reporting and business intelligence, The Consumer Insight – full-service customer experience analysis, and SYMBITS – managed IT services. Working in synergy, these four companies form a complete ecosystem: running, managing, and maximizing the productivity of retail efforts.

The Retail Outsource Companies to Attend January Trade Shows

December 17, 2013

Representatives from The Retail Outsource Companies (T-ROC), will be participating in both the Consumer Electronic Show (CES) in Las Vegas January 7 – 10, 2014 and the NRF Big Show in New York City from January 12 – 15, 2014.

Each Show is the world’s largest venue in its respective category – showcasing how up-to-the-minute to-market inventions and the latest solutions are helping industry leaders and multi-channel retailers overcome logistics and operational challenges and achieve their sales goals.

Team T-ROC is a part of this innovation revolution. These four elite companies complete the ecosystem of running, managing, and maximizing the productivity of retail businesses. Together they help retailers operate their stores by providing a trained team of product demonstrators or retail specialists.

The Retail Outsource creates a custom sales system including everything from how customers are greeted, operational procedures, all the way through to aftercare programs. TRO also builds high performance sales/support teams for retail and outside projects.  They also staff and successfully manage retail stores on behalf of their clients.

The Consumer Insight measures the Customer Satisfaction Index utilizing mystery shopping, satisfaction surveys, and competitor statistics. Techniques for improving brand appeal and brand loyalty are also available.

Mobile Insight provides quantitative analysis of store visits by customers and compiles reporting and business intelligence in real time. Industry specific software provides store management with instant access to photo capture, product delivery, and sales goals.

SYMBITS is America’s best-in-class IT managed solutions provider for the retail and education industries while also helping America’s small to medium size businesses with IT maintenance and on and off-site support, remote helpdesk,  business continuity strategies and cloud service offering.

To find out firsthand how Team T-ROC can help you dominate your industry and dramatically grow your revenue and profits, we invite you to arrange a live meeting with them at one, or both of these events.  Pre-show appointments are encouraged and welcomed!

The Retail Outsource is Named A Best Buy Approved Provider

February 14, 2013

February 14, 2013: Miami FL – The Retail Outsource (TRO) is proud to announce that it has been granted the coveted position as a Best Buy Third Party Approved Provider. TRO is now authorized to offer in-store sales teams to act as a direct extension of the Best Buy brand. These teams will be performing in-store activities such as customer service and sales.

After an extensive qualification process, TRO was approved as one of 10 Third Party Approved Providers. This extremely elite group is authorized to interact directly with Best Buy customers. Given the impact a third party relationship has on Best Buy they are highly selective of the companies allowed to partake in this program. TRO understands the magnitude of this relationship and will invest heavily in this opportunity. TRO’s extensive years of experience in providing high performance sales teams to retail kiosks, stores-within-stores, and standalone store startups definitely makes them the perfect fit for this handpicked group. “Our sales force has extensive expertise in managing day-to-day store operations, as well as a proven track record of high sales performance. We are excited to take on this role within Best Buy, and are confident that we will deliver superior customer service” said Brett Beveridge, CEO and Founder of The Retail Outsource Companies.


Best Buy’s Third Party Approved Provider Program was established November 1, 2005. This program was put in place to ensure that Best Buy customers’ needs are consistently met and that customers encounter a more consistent in-store experience at any Best Buy store. Third Party Providers have product knowledge, Best Buy certifications, and additional Best Buy training allowing them to assist customers on the sales floor.

To connect with TRO contact Founder and CEO Brett Beveridge at

To contact Best Buy, email the Third Party Team, or check out the Best Buy Third Party Site,

About The Retail Outsource

Headquartered in Miami, FL, The Retail Outsource specializes in retail consultation and specialized sales team staffing. TRO is affiliated with Mobile Insight, a wireless mobile field force automation application system, The Consumer Insight, a full-service customer experience management services provider, and SYMBITS, an IT managed services firm. To learn more about TRO, visit .

The Retail Outsource Companies Introduces The Consumer Insight at CES 2013

January 4, 2013

The Retail Outsource Companies Introduces The Consumer Insight at CES 2013

Miami, January 4, 2013:  The Retail Outsource Companies, is pleased to announce the launch of its new sister company, The Consumer Insight ( The Consumer Insight (TCI), is a full-service customer experience management service provider. TCI focuses on Mystery Shopping, Telephone Mystery Shopping, Customer Surveys, Compliance Audits, Competitive Intelligence, and Instant Rewards programs.

TCI’s client-centric methodology and unparalleled commitment to quality reporting distinguish it above other customer experience management programs currently available.  TCI deploys over 25 specific processes to ensure quality reporting; including PhotoDNA document upload verification and GeoVerify GPS location authentication. Through the use of TCI’s 30 thousand team members we can quickly deploy and execute thousands of visits with quality and accuracy. “We are delighted to add TCI to our comprehensive suite of services offering.” stated Brett Beveridge, Founder & CEO of The Retail Outsource Companies.

The Consumer Insight is headed up by Sam Hersey. Sam Hersey is a 30-year veteran of the retail industry and currently serves as the General Manager of The Consumer Insight.  He has operated hundreds of retail locations with a focus on CE and wireless retail services.  Sam has a rich and varied background in all aspects of retailing and specializes in defining, refining, and elevating the customer experience.  He has applied his extensive experience to developing actionable full-cycle customer experience reporting and management services to empower over 75 retail entities; from Fortune 100 companies to regional and local retailers. “Sam’s programs have helped clients of all sizes to understand, refine, and improve their customers’ retail experience. His extensive retail and customer experience expertise offers TCI an immense competitive edge.” stated Brett Beveridge, Founder & CEO of The Retail Outsource Companies.

To connect with TCI at CES contact Founder and CEO Brett Beveridge at

About The Consumer Insight

The Consumer Insight (TCI), a full service customer experience management service provider, is the newest member of The Retail Outsource Companies. TCI is headquartered in Miami, FL, along with its affiliate companies, The Retail Outsource, specializes in retail consultation and specialized sales team staffing, Mobile Insight, a wireless mobile field force automation application system, and SYMBITS, an IT managed services firm.

The Retail Outsource honored by Inc. Hire Power Awards

December 12, 2012

Brett Beveridge CEO of The Retail Outsource has been honored by Inc. Hire Power Awards as one of the “Real Heroes of the American Economy” for his job creating efforts.

The Retail Outsource ranks #7 in job creation over the past three years in the retail industry.


December 12, 2012:  New York, NY – Miami, FL – based The Retail Outsource featured in the inaugural ranking of Inc.’s Hire Power Awards, recognizing the private businesses that have generated the most jobs in the past three years.


The Retail Outsource generated 129 jobs from 2008 to 2011, placing it among the top 10 private business job creators within the retail industry.

The Retail Outsource specializes in the turnkey management and staffing of high performance sales teams both in and out of retail. Their recent hiring programs are not unique for the company but rather are continued indicators of the company’s impressive growth. “It’s an honor to be recognized for our job creating efforts. The hard work and dedication of our employees is what allows us to continue growing” said Brett Beveridge, Founder and CEO of The Retail Outsource. With employees in more than 44 states nationwide, The Retail Outsource is poised for continued rapid growth, including expansion into Puerto Rico, Mexico and Canada.

Inc. is the only major business media brand aimed solely at CEOs of fast-growing private companies. The Hire Power Awards will appear in Inc.’s December/January issue, as well as the brand’s web site,

“The top 100 companies on the list have created 73,032 American jobs in the three-year period from 2008 to 2011 – an amazing feat, given that much of that job growth came during the heart of the recession,” explains Inc. editor-in-chief Eric Schurenberg. “And it isn’t just the big guys that are adding jobs. Companies with less than $50 million in annual revenue make up nearly one-third of the Hire Power list.”

The inaugural Inc. Hire Power Awards are sponsored by Bank of America Merrill Lynch, which is proud to recognize American companies that have greatly increased their workforces. Inc.’s Hire Power Awards celebrates private companies on the forefront of American job creation, giving these businesses the recognition they deserve.

About The Retail Outsource

Headquartered in Miami, FL, The Retail Outsource specializes in retail consultation and specialized sales team staffing. It is also affiliated with Mobile Insight, a wireless handheld-based field force automation, compliance and reporting application developer, SYMBITS, an IT managed services firm, and The Consumer Insight, a full-service customer experience management services provider. To learn more about the services The Retail Outsource offers to retailers, manufacturers and service providers, visit http://www.theretailoutsource.comor .

About Inc.

Founded in 1979 and acquired in 2005 by Mansueto Ventures, Inc. is the only major brand dedicated exclusively to owners and managers of growing private companies, with the aim to deliver real solutions for today’s innovative company builders.  Total monthly audience reach for the brand has grown significantly from 2,000,000 in 2010 to over 6,000,000 today.  For more information, visit

About Bank of America Merrill Lynch

Bank of America Merrill Lynch is one of the world’s largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 57 million consumer and small business relationships with approximately 5,700 retail banking offices and approximately 17,250 ATMs and award-winning online banking with 30 million active users. Bank of America Merrill Lynch is among the world’s leading wealth management companies and is a global leader in corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America Merrill Lynch offers industry-leading support to approximately 4 million small business owners through a suite of innovative, easy-to-use online products and services.  For more information, visit:

“Bank of America Merrill Lynch” is the marketing name for the global banking and global markets businesses of Bank of America Corporation. Lending, derivatives, and other commercial banking activities are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., member FDIC. Securities, strategic advisory, and other investment banking activities are performed globally by investment banking affiliates of Bank of America Corporation (“Investment Banking Affiliates”), including, in the United States, Merrill Lynch, Pierce, Fenner & Smith Incorporated and Merrill Lynch Professional Clearing Corp., all of which are registered broker dealers and members of FINRA and SIPC, and, in other jurisdictions, by locally registered entities. Investment products offered by Investment Banking Affiliates: Are Not FDIC Insured * May Lose Value * Are Not Bank Guaranteed.