I work for a good company-but they are "insurance focused" in terms of management, training and production quotas.
Does this negatively effect you?
I find that the insurance company can give one the best of all worlds IF, and that is a very big "IF", one can easily sell enough insurance to make their contract numbers.
In comparison to a wirehouse, investment commissions will be typically about 50% higher depending on grid. Insurance commissions will be 300-400% higher (A $1000 commission on insurance will net you less than $300 at the wirehouse.)
In comparison to opening an indy shop, your payout will be lower (typically 10-20% depending on grid), but this is easily made up by the fact that at the insurance company, you'll probably have dual employee/independent contracter status and Indy, you'll strictly be an independent contracter. The advantage of the employee status (insurance sales from primary carrier) is that you'll get free rent, health insurance, 401(k) match, pension, life, DI, etc.
If investments interest you, by all means, let that be your focus, but you might find that the insurance company is the best place to do it... or you might not. I know plenty of people at insurance company B/D's who focus on investments. They easily pick up an extra $100,000 + by handling insurance issues for their clients.
Keith-I echo those sentiments. I started at an insurance company and went indy for those same reasons. I still do a good deal of insurance in addition to my investment focus. If you are someone who has to be the boss, or it is part of your personality to want your name on the shingle, Indy is the way to go. If not, the insurance company does provide some huge benefits and less behind the scenes administrative work required when you go out on your own. I still have several friends at the insurance co b/d and we all love our situations-we just have different personalities and different wants from our professional careers.
You COULD take the 65 instead of the 66, but I'm told by many that the 66 is easier than the 65.
I want to thank everyone who responded--I worked my butt off this week and had a fantastic week--I am a former national weightlifting champion and one of my sayings is "repetition fixes everything" I have found that true in my short career. I appreciate the ecnouragement--means a lot to me an my family-my wife and six children. Its funny, this week, the earliest I got home was 8pm, and I think I it was Thursday evening when I rolled in around 8:30pm, tired, hungry, excited, but wondering if this was worth it and I say down on the sofa and watched my 3.5 year old twins eat a nutty-buddy ice cream cone--and in that moment, I knew it was worth it.
Never again post on this board using the Keith W. moniker. Get a new name and ask the site administrator to remove this thread. If you are making most details up, you don't have to make the change.
There's only one person in this industry who has 6 kids, including 3.5 year old twins, and is a former weightlifting champion.
Your anonymity is critical. You see, you don't need to be anonymous with us. You need to be anonymous so that your B/D doesn't know that this is you.
Most likely, your B/D would consider posts on here to be advertising since the public can see it. Therefore, every post that you write would have to be approved in advance. Boards like this can be a great resource, but depending on your B/D, posting here can cost you your job.
Post anonymously in a way that those who know you won't know that it's you.