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Jun 16, 2009 8:47 pm

I've got a buddy looking at a financial advisor position at Allstate.  Good or bad place to work?

Jun 16, 2009 11:53 pm
voltmoie:

I've got a buddy looking at a financial advisor position at Allstate.  Good or bad place to work?



I've heard they're not anywhere NEAR as good as they were a generation ago.  Before all you had to worry about was car and homeowners with a little life thrown in.  You could also inherit an agency and capture all the renewals.  Now they award very little if any existing renewals to the agent taking over the branch and expect you to be a financial advisor, not a P&C Agent.  If you like the P&C game they're probably a good place to start, better than State Farm, but they're not your father's P&C agency.

Insurance broker/dealers up here in my area that are pretty competitive are NML, Mutual of Omaha, and New York Life.  I've heard good things about Met Life as well but don't run across them much.  Insurance B/D can be a great place to start and build a book that you can take with you, many of them don't care about the investments leaving as long as you keep an insurance contract to sell their products

Jun 17, 2009 11:32 am

I believe Volt is referring to the Personal Financial Representative position. They travel to various Allstate offices and work with the clients of the local insurance agents.

Jun 17, 2009 12:45 pm

They call and e-mail me all the time.  I hear it is BS.  The referrals from the P&C side are not what they promise.

Jun 17, 2009 3:11 pm

Borker, you are right. 

I've been pushing him to apply at Jones but he showed me their payout gird yesterday.  MUCH higher than Jones and no door knocking.  Seems like a path of less resistance for a new guy even if their referrals are not up to snuff. 

Jun 17, 2009 3:14 pm

I've spoken with a few people from Allstate (tried to recruit them), and they really do enjoy it there. Not a lot of work, more of a non-type A personality fit. Unlike most people on this board.