New England Financial

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Feb 7, 2010 12:30 am

Anybody ever hear of this firm?  Any thoughts?

Feb 7, 2010 7:10 am

located just outside Atlanta.

Feb 7, 2010 8:31 am

New England Life is an old insurance company founded in Boston, MA.  Several years ago they were purchased by MetLife.  I still believe they operate under the insurance agency model whereby their agencies are led by a general agent.  Like all insurance based organizations, their bias is towards insurance products.  Securities are secondary to their mission from what I believe and building a fee-based practice doesn't coincide well with how the agency's (or the agents) quota's and revenue goals are mandated.

 
If you love insurance products, working for an insurance company is a good fit. 
 
If you enjoy securities type products and services, deal with a non-insurance company type organization (i.e. RIA, Independent B/D).
 
Best wishes to you!
Feb 7, 2010 9:08 am

My mentor worked (at one time) at New England. He said the big swinging d!ck in his office did about 100K gross in securities. The rest was insurance. And he was the top securities producer. As Fred said, it is VERY insurance focused. So only consider them if you want to prospect insurance first, and take the assets that may come along with it.

Feb 7, 2010 11:53 am

Okay, thanks for the info.  I have a buddy that is being recruited to them from Jones.  They are offering $200k upfront and 60-80% payout.  I just thought is was a little fishy due to him being so now in the business and only having roughly 5mm AUM. 

Feb 7, 2010 1:18 pm
Eyetattoo:

Okay, thanks for the info.  I have a buddy that is being recruited to them from Jones.  They are offering $200k upfront and 60-80% payout.  I just thought is was a little fishy due to him being so now in the business and only having roughly 5mm AUM. 

 
Your buddy's a liar, that's the answer.
Feb 7, 2010 2:58 pm
howboutshoeshine:
Eyetattoo:

Okay, thanks for the info. I have a buddy that is being recruited to them from Jones. They are offering $200k upfront and 60-80% payout. I just thought is was a little fishy due to him being so now in the business and only having roughly 5mm AUM.



Your buddy's a liar, that's the answer.





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