For a Career Changer, MetLife, EDJ or?
70 RepliesJump to last post
[quote=svm21]Porker, I don’t sell things I don’t believe in. Its the comments made by you and anonymous that insurance salesmen have a bad rep. You guys are always trying to make a buck by preying in people’s fears, i.e. death. Every unbiased advisor, expert will tell you that the commissions are insanely high on whole life, and that 90% of people should just buy term and invest the difference.
[/quote]
,and you make less money preying on people’s greed and risking their money. How ethical of you…
It’s not all about the money. Answer the question, which life insurance company do you represent?
[quote=svm21]It’s not all about the money. Answer the question, which life insurance company do you represent?
[/quote]
You’re the one that brought up the money. Are you more ethical because you charge perpetual fees and risk people’s money? The company that Anon works for is absolutely irrelevant. He gets paid high commissions because he sells whole life to people who don’t need life insurance. It’s a tough sell. Selling to people who DO need LI is a piece of cake, except they don’t issue insurance to people who need it.
[quote=svm21]
Lets consider the facts at hand. Insurance companies, are by their nature more interested and supportive of insurance sales, specfically whole life.
Further proof towards their disregard for investments can be found in their utter refusual to sponser or pay for the series 7, for anyone under the 3 year marker. The MP said himself that its "useless in this business."Some "great place" for a investment orinatated career. See above. If you want to sell stocks or bonds, get the 7. If you want to sell funds/VAs get a 6. If you want to manage money, don't bother and open an RIA. If you want to sell insurance, get your L/H/annuity license. But let me ask you something: if you wanted to sell investments, why in the hell did you decide on NORTHWESTER MUTUAL LIFE INSURANCE COMPANY?! Seems to me you let yourself get duped. [/quote]
It was a internship which became a full-time position. But I will admit I let myself get duped.
[quote=svm21]It was a internship which became a full-time position. But I will admit I let myself get duped.
[/quote]
I’m sure NML feels the same way. They wasted a lot of time and effort on a piker.
[quote=svm21]
“And I understand whole life insurance very well, I just don’t believe it s the best thing since sliced bread like many of the INSURANCE SALESMEN that sell them do.”
"Ok will puff up your egoanonymous, I, which Insurance company is honored to have you as their broker? What company emblem does your business card have? Hm? "
Can't you read? I told you already. "Anonymous Financial" Why would I have an insurance company's emblem? When I sell insurance, I use whatever company is in my client's best interest. With WL insurance, I almost always use a large mutual company. With term coverage, I use whatever is cheapest unless the product will be converted. With LTCi, I prefer mutuals, but all situations are different. With DI, it depends on the occupation of the insured. My preference for attorneys and CPAs is Guardian, but with all others, it depends.
"If you can offer anything and everything that a full service broker offers, then why are not on any other lists of full service brokers?? Maybe just Maybe........BECAUSE YOU CAN'T OFFER ALL PRODUCTS AND SERVICES."
I'm sure that there are things that I can't offer that others can. I can't offer mortgages (fine with me). I can't sell EIA's (complete B.S I'm referring to the inability to sell them). I can sell, but can't solicit, individual equities (fine with me). What are you allowed to sell now that you weren't allowed to sell at NML? More importantly, will any of that impact your business.
I have the ability to work for commissions, fees, or both. I have some clients who have hired me on a fee-only basis. Quite frankly, I don't like to work in that manner and I don't think that it is in their best interest."I'm not getting through to you. I quit." You aren't getting through because you haven't given a single reason why you and your clients will be better off away from NML. How will your clients be better served by you getting a lower payout and putting insurance through the grid? How will you be better served? I'm not saying that it's not a good move for you and your clients, but you have failed to give us any reason to think that. Based upon your postings, it simply appears as if you haven't been very successful.
[/quote]
I’m betting his only “clients” were his parents and siblings. No one with any real money would trust this blabbering buffoon with their finances.
[quote=BerkshireBull]I’m betting his only “clients” were his parents and siblings. No one with any real money would trust this blabbering buffoon with their finances.[/quote]
At the end of the day, your an insurance salesmen, the most loathed position in the United States. And Insurance hardly qualifies as “finances.”
Berkshire I demand that you change your name immediately. You are pathetic comparing yourself to Warren Buffet. And what does “Bull” have to do with your LTC sales? O that’s right nothing.
I believe I can argue that financial advisor has supplanted insurance salesman as the most loathed position in the United States. When's the last time an insurance salesman reduced someone's net worth by 50%?[quote=BerkshireBull]I’m betting his only “clients” were his parents and siblings. No one with any real money would trust this blabbering buffoon with their finances.[/quote]
At the end of the day, your an insurance salesmen, the most loathed position in the United States. And Insurance hardly qualifies as “finances.”
I believe I can argue that financial advisor has supplanted insurance salesman as the most loathed position in the United States. When's the last time an insurance salesman reduced someone's net worth by 50%?[/quote][quote=svm21] [quote=BerkshireBull]I’m betting his only “clients” were his parents and siblings. No one with any real money would trust this blabbering buffoon with their finances.[/quote]
At the end of the day, your an insurance salesmen, the most loathed position in the United States. And Insurance hardly qualifies as “finances.”
When Berksh*te put all his clients money into Whole life insurance.
You may want to ask questions instead of responding to posts. There are a few things that are quite obvious about your situation: 1) You weren't successful at Northwestern Mutual. 2) You are a 26 year old kid. 3) You are anti-insurance primarily because you couldn’t sell it.
4) You have never paid a death claim.
5) You have never paid a disability claim.
6) You have never paid a long term care insurance claim.
7) You have nobody who is depending on you financially.
How do I know all of this? If you were successful, you would have paid some claims. If you had ever paid a claim, you would understand that insurance coverage is the most important part of one’s finances. Alternatively, if you love someone and that person was financially dependent on you, you would also understand the importance of insurance.
People may loathe getting called on by insurance salesman, but nobody is more important financially when something bad happens. Unless you gave up your insurance license or are going to refuse to make insurance sales, you are an insurance salesman. The vast majority of registered reps are insurance salesmen. The same is true for most IARs who are not fee-only. You were “only” an insurance salesman at NML because you failed at selling securities there.
If you are going to succeed, you will have clients. You will have clients who die. You will have clients who become disabled. It’s easy to be a financial advisor who makes sure that his clients succeed if they live happily ever after, but also be a financial advisor who makes sure that his clients and their families succeed if they don’t live happily ever after.
In other words, you can be a “financial planner” or an “investment advisor” or a “wealth manager” or whatever title you want to use, but please don’t forget to be an insurance salesman.
[quote=iceco1d]
Let me start out by saying this, SVM; you’re wrong about anonymous. He does a significant amount of insurance business, but I’d be willing to bet he’s not a “one trick pony” or an “insurance solves everyone’s problems.” I’m going to go out on a limb and say this guy really does care about, and want to do what’s best for, his clients.
Here's what I think goes on in some people's minds... "Investment guys," probably like SVM, get pissed when they see "insurance guys" trying to pitch insurance as a "solves all your problems" type of solution. I think it's the same type of reaction an "insurance guy" would get when they see some wirehouse guy proclaiming to be a "wealth manager" when all he really does is sell munis, or options, or wrap accounts, or whatever the case may be. Using only insurance products will likely leave you with less money accumulated over time, ASSUMING that nothing catastrophic happens to you. Using only investment products will likely leave you with less money if something catastrophic DOES happen to you. Both sides are important. Very few are complete experts on both sides. Just because some is predominantly one side or the other, doesn't make them bad, nor wrong. All you need to really do is make sure you know enough to recognize the need for both, and bring on joint work, or money managers, or whatever else you need, to cover that need. As a disclaimer - I'm an "investment guy." I loathe insurance of all kinds. The paperwork. Talking about it. Exams. Claims. Barf....but I understand the need. So I outsource the insurance side to other guys in my office. [/quote]What would it take for you two to bury the hatchet?
I was never at war with anonymous. I was at war with Berksh*te and Porkerboy. I actually agree with what Anonymous said in his last post. You were even right about me being 20 something, and never paying a claim.
I would like to add that something very ironic and twisted happened today, and I’m not sure if it was a considence or maybe something else. Upon waking this morning I had two missed calls on my cell phone from a area code in the city I used to live/work. I immediately called back when a woman answered. I introduced myself and inquired what her call was regarding. She responded; “Hi, My husband just passed away and we found your name and number in a old calender of his. I was wondering if my husband had any investments with you. Were having trouble collecting this information because he handled it, and pretty much kept me in the dark.” I replied that I was no longer with Northwestern Mutual, nor did I serve in that capacity to him, however I might have issued a insurance policy on him. I told her to hold on while I checked with my old files. I looked through my files from NWM and said no I didn’t, we never met. She goes “Oh, he has you scheduled twice in his calender in the month of July 2009.” I cross referenced my calender from that month and sure enough we had two scheduled, but canceled apointments last July. I don’t remeber who rescheduled on who, but for whatever reason we never met up.
What I’m trying to say is that even through all my ranting and raving about insurance salesmen and life insurance being the epitome of evil. I never denyed the importance of insurance. Especially life insurance. A part of me feels some regret. If I had pushed a little harder to reschedule him, maybe just maybe I could have reached him. I know its cheesy and even sounds made up, but I could have helped the guy out. He was only 55. Hell thats my dads age.
I’m done bickering guys, I agree with insurance and I plan to provide and sell it. I guess I just have some left over anger from my experince at NWM. It has nothing to do with the product, hell I still drink the koolaid that their the best insurance company out there for disability and whole life, without a doubt. I just have a problem with the way they were pitched by the reps I’ve worked with. And your right, I never did pay a claim of any kind, I wasn’t their long enough. I was their less then 1 year. I didn’t make it because I wasn’t succesful, I quit because I wanted a more investment oreinatetd company. Thats it.
No more arguing. I’m done.
SVM, NWM (NML to an old timer like me) does have Kool-Aid that may be even stronger than the Edwards Jones Kool-Aid.
It's time to spit out that Kool-Aid. Talk to a Berkshire/Guardian disability brokerage director. Guardian blows away NML for white collar DI. MassMutual is also better. As for WL, because of direct recognition, NML's WL is not as good as you think that it is. Ex. Joe borrows $100,000 from his NML WL policy. He pays back the loan a couple of years later. Joe dies 15 years later. Joe will have a lower death benefit than he would have had if he never borrowed the money. A loan from an NML policy will have an impact on the policy forever even when it gets repaid.[quote=iceco1d]
Who? I’m not at war with anyone…except maybe LA Polesmoker. Do you want me to bury the hatchet with him?
[/quote]Yes. In his forehead.
svm, I hope you have your conversations with this guy DOCUMENTED on why he did not act on your recommendation that he purchase life insurance when presented with it or you may have an E&O issue on your hands from his widow. I will often times go so far as to ask them to date and sign a piece of paper accepting their decision NOT to purchase life or DI and that they are doing so against my recommendation.
Speaking of scare tactics, this approach takes the cake.svm, I hope you have your conversations with this guy DOCUMENTED on why he did not act on your recommendation that he purchase life insurance when presented with it or you may have an E&O issue on your hands from his widow. I will often times go so far as to ask them to date and sign a piece of paper accepting their decision NOT to purchase life or DI and that they are doing so against my recommendation.