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. When should retailers apply the 'always be closing' (ABC) strategy?

    Understand when it is appropriate to use the term "always be closing," and learn why a salesperson should want to embrace ... Read Answer >>
  3. 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 >>
Related Articles
  1. Investing

    Rainmaker Systems: A Case Study in Volatility

    Find out about the share price volatility for Rainmaker Systems and the mistakes the company made, as well as why it may be a stock to avoid in the future.
  2. Personal Finance

    Consider A Career As A Financial Communications Professional

    Regulators, sales people and clients all look to communications professionals to help them navigate the markets.
  3. Financial Advisor

    The Upside of a Client Service Associate Career

    Client service associates play a vital role in the financial industry. Here's the lowdown on this position and what it can offer.
  4. Small Business

    What is a Firm?

    A firm is a business or organization that sells goods or services on a for-profit basis.
  5. Financial Advisor

    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.
  6. Financial Advisor

    Retirement Tips for Financial Advisors

    Learn some valuable tips that financial advisors are using to successfully transition from practice to financially secure retirement.
  7. Personal Finance

    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.
  8. Financial Advisor

    How to Break the Ice with New Clients

    Conducting an effective, initial client–advisor interview is an essential part of any advisor’s job. Here are a few tips on how to get started.
  9. Small Business

    Keeping Clients Through Good And Bad Times

    If you work in the financial industry, the secret to keeping clients happy is to be consistent.
  10. Financial Advisor

    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.
RELATED TERMS
  1. Rainmaker

    A broker or financial advisor who brings a large number of wealthy ...
  2. Raintaker

    A former employee of a brokerage firm who takes high-value clientelle ...
  3. Sell-Out

    When a broker or investor buying stocks has failed to settle ...
  4. Account Executive

    This term refers a person who has primary responsibility for ...
  5. Firm

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

    The process of selling shares that were formerly privately held ...
Hot Definitions
  1. Co-pay

    A type of insurance policy where the insured pays a specified amount of out-of-pocket expenses for health-care services such ...
  2. Protectionism

    Government actions and policies that restrict or restrain international trade, often done with the intent of protecting local ...
  3. Fiduciary

    A fiduciary is a person who acts on behalf of another person, or persons to manage assets.
  4. Demonetization

    Demonetization is the act of stripping a currency unit of its status as legal tender and is necessary whenever there is a ...
  5. Investment

    An asset or item that is purchased with the hope that it will generate income or appreciate in the future. In an economic ...
  6. Redlining

    The unethical practice whereby financial institutions make it extremely difficult or impossible for residents of poor inner-city ...
Trading Center