Allstate

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Jul 28, 2007 11:16 pm

Has anyone ever worked at Allsate on the investment side?  Or Heard anything?  If so was it good, bad or ugly?

Jul 28, 2007 11:22 pm

Their car insurance is great.  Other than that, they suck.

Jul 28, 2007 11:35 pm

I know they just messed up some annuities for a team in my office.

Jul 29, 2007 7:46 am
Bosco:

Has anyone ever worked at Allsate on the investment side?  Or Heard anything?  If so was it good, bad or ugly?


For more than thirty years Nationwide has been offering funds and annuities as part of their product line.  They did it by having an "investment specialist" or more in an office and if a P&C insurance agent found a mutual fund prospect the specialist was called in on the case and would take the commission for the sale.  The introducing agent got something else for having made the introduction--I think it might have been points towards a trip or something like that.


Anyway, in recent years State Farm has attempted to get their sales force licensed, as has AllState.  Neither efforts met with much success because the typical P&C agent is not all that bright and seemingly quite content with their business the way it is---meaning without an investment component.


If you want to sell mostly securities and a little insurance on the side don't join AllState, State Farm, or Nationwide.


That said, all three of those firms are going to be decent places to start a career--at least the insurance component is something that everybody you run into probably already buys.  That is not true with mutual funds, annuities and the rest of the things that securities salespeople have available to them.

Jul 31, 2007 10:46 am

i worked there for about 6 mos. I left because they are no where near the competition as far as having an investment platform. I wouldn't go there...If you want to be a term life sales agent, then go ahead. No one with a series 7 should be caught working there....