Help with job offers! (Insurance vs Investments)
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I hope it’s not Windy. I don’t think it is. After his almost suicide blog, I can’t believe he’d want to come back.
Anonymous is right, they won't "start you out with" younger people. You'll have to set the meetings yourself, but if you can get good on the phone you should be fine. You won't make much starting out just because insurance costs next to nothing for people age 22-28. Another thing is that younger people that just graduated and have entry-level salaries will be the toughest to convince that they need insurance. Try telling a 24 year old single male with no mortgage that he needs to spend $85 per month on disability insurance! It won't be easy but younger people can usually connect better with younger people I guess.3rdyrp2- They wouldn’t let me do that. IPA starts you out with younger people making entry-level salaries. You don’t meet with high net worth individuals until you are more experienced. If I were to meet with someone like that, it wouldn’t be without the supervision of a senior adviser.
Volt just how old are you? No wife at home? I haven't seen a female poster come across this site yet that you weren't willing to leg hump.Windy has a sister!
I’m calling BS until we see a picture. Just PM me your facebook link and I’ll vouch for you.
Way too sassy for a newbie with no life experince. I’m in love.
anonymous & 3rdyrp2- Thanks a lot for your advice. I know they won’t “start me out” with clients as in hand them to me, I just meant that’s who they want us to target. I should’ve worded that better, my bad. I realize I’m going to have to work my ass off in the beginning with either job; I just gotta figure out where I’d have more success.
voltmoie- You seem cool. I’d send a facebook link and let you vouch for me, but I’m afraid you’ll start posting my suicide blogs for everyone to read. Apparently that’s an issue here.
Moraen- Thanks dude! =)
Newbie
Joined: 17 July 2009
Posts: 5 As much as I'd like to believe this is Windy there's no way he'd only be at 5 posts in 10 days. Didn't he take MJ to 85 posts in like a week? Although mighty clever of him if he were to come back and begin a bromance with Volt.
You my friend are an expert at cyber flirting. What a way to cover it up. Seeing this woman's picture will do nothing, except give you a boner or nightmares. Next thing we know, Squeak will be calling harrassment because volt is trying to meet her an Jose's Inn and Auto Repair for a midnight rendezvous![/quote][quote=voltmoie]Windy has a sister!
I’m calling BS until we see a picture. Just PM me your facebook link and I’ll vouch for you.
Don't player hate!
[quote=ElectricSqueak]anonymous & 3rdyrp2- Thanks a lot for your advice. I know they won’t “start me out” with clients as in hand them to me, I just meant that’s who they want us to target. I should’ve worded that better, my bad. I realize I’m going to have to work my ass off in the beginning with either job; I just gotta figure out where I’d have more success.
voltmoie- You seem cool. I’d send a facebook link and let you vouch for me, but I’m afraid you’ll start posting my suicide blogs for everyone to read. Apparently that’s an issue here.
Moraen- Thanks dude! =)[/quote]
Awww, come on. Just delete the blogs before you send me the link! Its standard policy that someone vets you.
I would look at a bank platform position. Start out as a licensed banker under a Financial Advisor with a lot of experience. The money on the investment side is minimal, but you do get a base and you get paid on bank products, so you won’t starve during the lighter investment months. Chase is a good one if you get the right branch. They have money coming in like crazy because of the situation with the other banks. You will learn a lot and should have an opportunity to move into the FA role. One of the guys I know that just got promoted to the FA position grossed 37k his first full month and has 52k closed this month. You get a 30% payout the first year, I believe. After that it is a grid with 35% being the highest tier at 40k+. (This is in the FA role) The licensed banker position should pay 30k base with a bonus running between 1200 and 3000 a month depending how well you do.
Just my 2 cents. Oh, yeah, forgot my Kool-aid, Jones is a great place to start!Isn’t the term “ElectricSqueak” insider lingo for a rock band wanna be group? Hey Windy, you gotta tune out that “electric squeak” it’s giving too much feedback.
Anyway, ask yourself if you would like to be an insurance peedler that does some investments or would you like to be an investment salesman that offers some insurance products. I personally feel that the insurance angle will be more profitable faster. Everyone needs some kind of insurance product rich or poor. Investments are not the best topic on average joe's mind right now. New business is not falling in our lap but current clients are starting to get motivated. Probably means we are at the top of this bear market rally. Work everyday like it is the last day in the pay period and you will do fine.At this point, I don’t think that it matters if she wants to be selling investments or insurance. The chances of a 20 year old succeeding with selling investments is very low. On the other hand, a 20 year selling insurance will absolutely succeed if they do what needs to be done on a daily basis and they do lots of joint work.
Face to face sales experience is what is needed.Squeak. Ignore the haters. Your age has nothing to do with your ability unless you let it. A five year old can tell a 40 year old man he needs a few million in life insurance. Some people will not trust you at first, but that will happen regardless of your age.
The things you will need(or at least would be helpful):
A significant other to pay your mortgage while you get started. There will be slow months.
Thick skin. This usually comes by itself in time, helps to have had angry siblings.
Fake it. Be convincing when you tell someone what they need. Ask for the business, tell them what they are buying.
If you think you need sales experience, go sell cars for a year or two. It is the best crash course available.
[quote=vau33880] Squeak. Ignore the haters. Your age has nothing to do with your ability unless you let it. A five year old can tell a 40 year old man he needs a few million in life insurance. Some people will not trust you at first, but that will happen regardless of your age.The things you will need(or at least would be helpful):A significant other to pay your mortgage while you get started. There will be slow months.Thick skin. This usually comes by itself in time, helps to have had angry siblings.Fake it. Be convincing when you tell someone what they need. Ask for the business, tell them what they are buying.If you think you need sales experience, go sell cars for a year or two. It is the best crash course available.
[/quote]
It is highly unlikely she has a mortgage at 20.
But, I personally think with her attitude, Squeak can conquer the world, provided she is the same way in real life that she is in cyberspace.
Volt - Was I right?
Sweeeet! Look at all these replies!
voltmoie- You’re ridiculous. I’ll think about it.
MsBroker- I hadn’t thought about the banker approach. I like the idea of not starving when I’m first starting out. Thanks for that.
N.D.- I have no idea if that’s what electric squeak actually means. If so, that’d be pretty sweet. I think I’d rather sell investments than insurance, just because there’s more you can do with it and nobody really gets excited about buying insurance. But I can see how insurance would pay off faster, and that’s the vibe I’ve been getting from the companies as well.
anonymous- Can you explain more why a 20 year old would do better with insurance than investments? I’d think that if I’m selling investments over the phone, I’d do better because the clients can’t see that I look like Stock Market Barbie.
vau33880- Ooo, this is helpful. I don’t have a mortgage, and my expenses are pretty minimal at this point. And I know more angry people than anyone should ever have to come in contact with. I had a boss who was the Italian version of Gordon Ramsay. Seriously, the dude used to throw plates at my head.
Moraen- Thanks, that’s really encouraging. I’m probably weirder in real life. =)
Selling investments over the phone doesn’t give you the face to face sales skills that you should be trying to develop. Also, most people who try it, fail.
20 year old "Stock Market Barbie" will struggle selling investments to people in their 40's and older. People younger usually don't have enough assets. 20 year old "Stock Market Barbie" can do very well for herself selling insurance to people in their 20's and 30's.If I were 20 and starting out I would tell you to consider working for a large firm in the corporate headquarters for a few years to learn the business inside and out before getting thrown to the wolves. It will be very tough doing either business at 20 with no experience. Apply for corporate positions even if that means you move to a new city for a few years, you will thank yourself down the road. If you go out in the field right away and fail it may be tough to get back in. Many firms will get you licensed, maybe pay for grad school and you can learn different aspects of the business. If you don't want to do that consider working for ADP and sell payroll to small businesses for a few years. They have top sales training and you could build contacts and improve your sales confidence. I know several people in the investment field that started at ADP and most became very successful when they became FA's. I'm not saying you can't do this at 20 but the odds are not in your favor, nothing personal but that is people's perceptions that they should invest with someone who is a little older and experienced.Hi everyone,
I’m ElectricSqueak. I’m 20 years old, female, and recently graduated college. I’m new to this forum and to the financial services industry, and have a few questions. Any help would be appreciated!
1) Who the f*** is Windy? Seriously, 75% the threads on this forum seem to involve this guy in some way. I wanna know!!
2) I’ve received a bunch of offers and have narrowed down my top 2. One is an insurance/“financial planning” company, and the other is a full-service brokerage firm. Can someone tell me the pros and cons of selling for an insurance-based company versus an investment-based company?
Thank you!!
[quote=ElectricSqueak]Hi everyone, I’m ElectricSqueak. I’m 20 years old, female, and recently graduated college. I’m new to this forum and to the financial services industry, and have a few questions. Any help would be appreciated! 1) Who the f*** is Windy? Seriously, 75% the threads on this forum seem to involve this guy in some way. I wanna know!! 2) I’ve received a bunch of offers and have narrowed down my top 2. One is an insurance/“financial planning” company, and the other is a full-service brokerage firm. Can someone tell me the pros and cons of selling for an insurance-based company versus an investment-based company? Thank you!!
If I were 20 and starting out I would tell you to consider working for a large firm in the corporate headquarters for a few years to learn the business inside and out before getting thrown to the wolves. It will be very tough doing either business at 20 with no experience. Apply for corporate positions even if that means you move to a new city for a few years, you will thank yourself down the road. If you go out in the field right away and fail it may be tough to get back in. Many firms will get you licensed, maybe pay for grad school and you can learn different aspects of the business.
If you don’t want to do that consider working for ADP and sell payroll to small businesses for a few years. They have top sales training and you could build contacts and improve your sales confidence. I know several people in the investment field that started at ADP and most became very successful when they became FA’s.
I’m not saying you can’t do this at 20 but the odds are not in your favor, nothing personal but that is people’s perceptions that they should invest with someone who is a little older and experienced. [/quote]
Holy crap LA! Let’s give as much bad advice as possible here! Odds aren’t in anybody’s favor in this business.
Squeak. Here’s how you play the 20-year old college graduate angle. Simple: I’m smart enough and driven enough to get to this point in my life, why would you want to put your money with someone who has been coasting the last 30 years. If i’ve accomplished this much in 20 years, imagine what would happen the next twenty.
Simple.
Here is some more advice about being twenty. You have a long life before you. Fail now and it’s no big deal. Fail a few years before you turn thirty, you’re married, got a couple of kids - then it’s not just about you.
I’d rather work hard at twenty than play catch up in my 30’s and 40’s. You have all of the experience you need to start selling.