As a former stock broker with Morgan Stanley, I can tell you that is the only way Brokerage Houses solicit--cold calling.
One reason I resigned in June - fingers getting callouses from dialing 500 numbers everyday.
Ask Knothead--he remembers my complaining everyday about cold-calling.
But, you know what? It works. Out of 200 calls, one peep bites.
So we keep track of each call and if its negative, it only means we are getting close to the peep who's gonna bite.
At 198 rejects, things start getting hot.