A:

A rainmaker is any person who brings clients, money, or respect to an organization based solely on his or her association. Traditionally, the term "rainmaker" applied to members of the legal profession, like attorneys-turned-politicians who retired from public life (forcibly or otherwise) and went on to practice law at nationally-recognized firms.

Over time, the term gained usage in many other industries and activities, including investment banking, political campaigning and public speaking. For example, former U.S. Vice President Al Gore's association with the environmental movement caused numerous venture capital firms to add Gore as a partner in hopes that his "rainmaking" abilities would help them raise hundreds of millions of dollars for alternative energy initiatives.

In everyday usage, the term "rainmaker" can apply to anyone - from the salesperson who always finishes first in sales to the engineer who consistently finds innovative ways to present a company's products. In the purest sense, a rainmaker is a difference maker.

This question was answered by Justin Bynum.

RELATED FAQS
  1. Why is Frank Quattrone credited with contributing to the growth of the dotcom bubble?

    Frank Quattrone was one of the most powerful figures during the dotcom bubble. He was one of the first investment bankers ... Read Answer >>
  2. How does the always be closing (ABC) strategy benefit a salesperson's sales funnel?

    Understand what it means for a salesperson to always be closing, and learn why a salesperson should want to always be closing ... Read Answer >>
  3. What does the law say about non-U.S. citizens buying stocks of U.S. companies? Are ...

    The law is very fuzzy on the matter of who may own U.S. securities and for what purpose. The U.S. follows the common law ... Read Answer >>
  4. What are the major types of business in the private-sector and how do they differ ...

    Learn more about how private companies are organized and how large and small companies differ from one another in organization ... Read Answer >>
  5. What advantages do corporations have over privately held companies?

    Learn about the chief advantages that publicly traded corporations have over other forms of business organizations, most ... Read Answer >>
  6. Does a company have to notify its investors when it faces legal proceedings?

    Not necessarily. The SEC guidelines do not require businesses to publicize legal proceedings if these proceedings are a part ... Read Answer >>
Related Articles
  1. Your Clients

    How to Construct an Annual Review for Clients

    One of the best things that advisors can provide to clients is an annual review of their financial situation. Here are some guidelines.
  2. Professionals

    A Day In The Life Of A Public Accountant

    Here's an inside look at the workdays of two experienced CPAs, to give you an idea of what it might be like to pursue a career as a public accountant.
  3. Career Education & Resources

    Retirement Tips for Financial Advisors

    Learn some valuable tips that financial advisors are using to successfully transition from practice to financially secure retirement.
  4. Financial Advisors

    How Advisors Should Prep for an Initial Meeting

    First impressions count, so prepare well for your first meeting with a client. Get to know as much as you can about the person and be ready to answer questions.
  5. Professionals

    Keeping Clients Through Good And Bad Times

    If you work in the financial industry, the secret to keeping clients happy is to be consistent.
  6. Retirement

    When Retirees' Beliefs Hit Financial Reality

    Clients may have a sunny outlook on retirement, even when their savings rates are grim.
  7. Retirement

    Helping Your Clients Face The Financial Reality Of Retirement

    Altering retirement plans is tough, but when the retiree is unprepared, it's very necessary.
  8. Retirement

    Traditional IRAs: Introduction

    By Denise ApplebyThere is no question that the world of retirement and retirement plans is a confusing one. With so many options to choose from, how does an individual know which one is best ...
  9. Financial Advisors

    Top Retirement Prep Questions to Ask Clients

    Is your client really ready for retirement? Here are some essential questions to ask.
  10. Professionals

    Wanna Be A Bigwig? Try Investment Banking

    A career in this high-stress field can be very rewarding for the right person. Find out if you have what it takes.
RELATED TERMS
  1. Sell-Out

    When a broker or investor buying stocks has failed to settle ...
  2. Firm

    A firm is a business organization, such as a corporation, limited ...
  3. Going Public

    The process of selling shares that were formerly privately held ...
  4. Statutory Liability

    A legal term meaning that someone can be held responsible for ...
  5. Venture Capitalist

    An investor who either provides capital to startup ventures or ...
  6. American Institute Of Certified Public Accountants - AICPA

    The non-profit professional organization of certified public ...
Hot Definitions
  1. Over-The-Counter - OTC

    Over-The-Counter (or OTC) is a security traded in some context other than on a formal exchange such as the NYSE, TSX, AMEX, ...
  2. Quarter - Q1, Q2, Q3, Q4

    A three-month period on a financial calendar that acts as a basis for the reporting of earnings and the paying of dividends.
  3. Weighted Average Cost Of Capital - WACC

    Weighted average cost of capital (WACC) is a calculation of a firm's cost of capital in which each category of capital is ...
  4. Basis Point (BPS)

    A unit that is equal to 1/100th of 1%, and is used to denote the change in a financial instrument. The basis point is commonly ...
  5. Sharing Economy

    An economic model in which individuals are able to borrow or rent assets owned by someone else.
  6. Unlevered Beta

    A type of metric that compares the risk of an unlevered company to the risk of the market. The unlevered beta is the beta ...
Trading Center