AXA Advisors or Northwestern Mutual or?
Hi,
I’m considering a career switch , which is exciting and nervewracking. I’m pretty sure AXA will be offering me a spot and I was recruited by NWML a few years ago and will revisit them to see what their current offer would be like.
Does anyone have any thoughts on these two companies and any opinion on other companies I should be looking at ?
Thanks so Much,
Wendy
AXA is terrible. NML is a good company. I would look at brokerage firms as well as insurance co’s.
Any in particular you would suggest ? The training and mentoring component is important to me.
Thanks,
Wendy
at nm, you'll have to pay for everything out of your own pocket--local phone calls, office space, etc. at axa, most of the basic business expenses are provided as you'll be treated as an employee. at nm, you're an independent contractor.
i would go to axa because at axa, you'll end up having series 7 and 66 licenses. nm only requires state insurance licenses and series 6 at the most for the beginners. in case things don't work out at either place, you'll come out as a "registered representative" credencial from axa.jj_huh, it’s better to keep your mouth shut than to answer questions incorrectly.
Take a look at Edward Jones. Most people here will admit their sales training is very good. I have been at EDJ over 10 years and very happy. Several on this site started there and then went independent.
Whuttner, if you have any specific questions about NWMFN I would be happy to answer them just pm me. I have spent almost a year there as an intern doing exactly what the full time reps do, so I know the business and their business model pretty well. They are a great company, although I will be leaving to work with EJ to be closer to home.
I’ve been offered the AXA job and Northwestern wants me too . We’ ve been NWML policy holders for 25 years and our personal rep offered to mentor me, he’ll also let me call into his B clients and inactive ones; he’s been trying to get me to join his group for a number of years . I told him I wanted to offer a full range of services and liked the fact that AXA wanted me to get the series 7 and 66 right away - he said he’d facilitate writing policies so I wouldn’t have to turn anything away until I had that ability at NW myself. The training at NWML seems well developed although the manager who hired me at local AXA office has his own system and is their office is #4 in the country and he seems to be the best manager out of the 4 there.
I’m older than the reps at AXA but having those youngin’s around could spark my competative streak but I seem to kind of fit in the NW offices a bit better.
I know that I don’t know what I don’t know about the industry yet and love to hear your opinions/ experiences. ANYONE ELSE WANT TO SHARE YOUR OPINION WITH ME ?
Thanks so Much
Most of the people who are members here do not work for an insurance co, so you probably won't get a ton of response. That being said, I would investigate what jj had to say earlier. It sounds like NWM has the FA side as an afterthought, based on his comments. Try to figure out what the payout grid is for each company, and view it in the context of overhead expenses you would have to pay with one and not the other. I have seen many favorable comments on this board about NWM, and this is the first time I have read anything about AXA.
AXA is an insurance company. Northwestern Mutual is an insurance company. To survive at either company, you will need to be able to sell insurance.
Could you sell an insurance product if you knew that your client would be better served by working with your competition?
Yes, that is not a test. If it were, there would only be one insurance company, one B/D, one I/A, and one commercial bank, because everyone would refuse to work and sell for any of the competition out of ''geez, I really want to help you, but you should go talk to NWM, they would much better serve your needs…"
whuttner, You're an idiot. Why? Because you don't understand that COMPANIES DON'T MATTER. Your LOCAL AGENCY MATTERS! Your MENTOR MATTERS! Your EXPERIENCE WITH THE COMPANY'S POLICIES MATTERS! For YOU, take NWM and DON'T LOOK BACK! You have someone who will mentor you THAT YOU TRUST! (Why do I say that? Because you've been your mentor's CLIENT for 25 years!) You OWN a product that you like! (Why do I say that? Because you've been a policy holder for 25 years!) Your conviction in your mentor and the product you OWN will help you SELL! Full range of services? There's PLENTY OF TIME for that LATER. Leverage what you DO have and you can move your career into a different direction AFTER you've been working with your mentor.I’ve been offered the AXA job and Northwestern wants me too . We’ ve been NWML policy holders for 25 years and our personal rep offered to mentor me, he’ll also let me call into his B clients and inactive ones; he’s been trying to get me to join his group for a number of years . I told him I wanted to offer a full range of services and liked the fact that AXA wanted me to get the series 7 and 66 right away - he said he’d facilitate writing policies so I wouldn’t have to turn anything away until I had that ability at NW myself. The training at NWML seems well developed although the manager who hired me at local AXA office has his own system and is their office is #4 in the country and he seems to be the best manager out of the 4 there.
I’m older than the reps at AXA but having those youngin’s around could spark my competative streak but I seem to kind of fit in the NW offices a bit better.
I know that I don’t know what I don’t know about the industry yet and love to hear your opinions/ experiences. ANYONE ELSE WANT TO SHARE YOUR OPINION WITH ME ?
Thanks so Much
Man, I’m glad I picked financial advising over insurance…just saying.
Hank,
Tell me... what is "financial advising"?Well, to start, it is not dictating in BOLD letters that THIS FIRM IS THE ALPHA AND OMEGA. Beyond that, there has been a traditional fall off between Ins. firms and financial planning firms, as far as A)payout for the agent, and B)quality and diverse product offering. I was exensively aprised of this over the last few months. Pick your product/industry, and pursue it…
I get paid more gross and net on insurance products and investment products at my insurance BD than I would at a wirehouse. On a net basis, I make more than an independant "financial planning firm". Oh yeah, I'm not even close to capping out on payouts (but I'm working on it). I have every single product available to me at my insurance firm that I would have at a wirehouse and independent firm (except for IPOs). My business card says "Financial Advisor", just like it would at a wirehouse or independent firm. I have some of the most sophisticated planning techniques at my disposal. I run circles around run-of-the-mill "financial planners" who seem to think all you need to do is invest more to get to your goals. Pathetic. And, oh yeah. I don't have to belittle a client by telling them I won't work with them because they don't have enough investable assets. I can work with the smaller guy because I know how to make that relationship profitable for me AND add value to the client. If you're gonna spew about something, at least make it on a topic where you've got at least a bit of a clue of what you're talking about. Otherwise, let the grownups talk.Well, to start, it is not dictating in BOLD letters that THIS FIRM IS THE ALPHA AND OMEGA. Beyond that, there has been a traditional fall off between Ins. firms and financial planning firms, as far as A)payout for the agent, and B)quality and diverse product offering. I was exensively aprised of this over the last few months. Pick your product/industry, and pursue it…
[quote=entice] [quote=Blitzkrieg Bop]I think you should get a cosmetology license before you become a financial advisor. [/quote]jj_huh, it’s better to keep your mouth shut than to answer questions incorrectly.
Your not happy with life or something? Most of your posts on this forum are nonconstructive criticism and a lot of your posts are personal attacks against people posting questions/problems here. I do appreciate your time replying with nonsense though, now I feel special . This forum definitely needs more helpful members like you that has so much time on their hands amusing others with such great posts. Now I feel much better of a person. Thanks!
[/quote]
“Yes, that is not a test. If it were, there would only be one insurance company, one B/D, one I/A, and one commercial bank, because everyone would refuse to work and sell for any of the competition out of ''geez, I really want to help you, but you should go talk to NWM, they would much better serve your needs…”
Are you kidding me? It's a huge test. I'm not saying that there is one best insurance company. Do you believe in doing what is in your client's best interest? Could you work at a firm if their products were never in the client's best interest?“Well, to start, it is not dictating in BOLD letters that THIS FIRM IS THE ALPHA AND OMEGA. Beyond that, there has been a traditional fall off between Ins. firms and financial planning firms, as far as A)payout for the agent, and B)quality and diverse product offering. I was exensively aprised of this over the last few months. Pick your product/industry, and pursue it…”
What is a financial planning firm? This is a serious question.[quote=entice] [quote=Blitzkrieg Bop]I think you should get a cosmetology license before you become a financial advisor. [/quote][quote=anonymous]jj_huh, it’s better to keep your mouth shut than to answer questions incorrectly.
Your not happy with life or something? Most of your posts on this forum are nonconstructive criticism and a lot of your posts are personal attacks against people posting questions/problems here. I do appreciate your time replying with nonsense though, now I feel special . This forum definitely needs more helpful members like you that has so much time on their hands amusing others with such great posts. Now I feel much better of a person. Thanks!
[/quote] [/quote] I agree. We do need more members like me. Before you start criticizing other people's posts, I strongly suggest that you start posting something of value.
[quote=iceco1d]I agree and disagree at the same time with deekay.
I find many insurance guys do a better job with hollistic "financial planning" than a wirehouse rep might do. At the same time, deekay may find my knowledge and implementation of insurance planning "pathetic" (which is why I outsource it to an insurance-only professional), while at the same time I might/probably find his knowledge of investment management equally "pathetic." Too many "jack-of-all-trades" going on industry-wide IMO. (btw deekay, I used you for an example only - I have no knowledge of your expertise, or lack of expertise, in the investment arena...just adding on to your point).[/quote] Well put, Ice. You're right - I couldn't tell you what the alpha or beta was on some fund, or the P/E is on KO. However, I can put together an asset allocation for a client, or show them the pros and cons of a VA vs. fixed annuity. That alone makes me as qualified an investment specialist as 95% of the "financial advisor" community (not referring to you - you're in the 5% IMO). Like you, I farm out the other stuff (investment management) because I don't have the resources a fund/SMA/VA manager has at their disposal. And I definitely don't want to become a "Jack of All Trades/Master of None". Frankly, I think we'd all make a lot more money if we just said what we did instead of obfuscating the truth with fancy terms like "financial advisor" or "wealth manager" or whatever. Damnit, I'm a Life and Disability Insurance specialist and proud of it!Since I make my living photographing other people's art, my first advice to artists who want to do it themselves is to seek
professional help. We photographers have the right equipment and lots of experience to get it right the first time. Anyone
who has ever tried to photograph their own work will know that its a rigorous challenge in the best of circumstances, and a
downright waste of time and money if not done correctly.
If you must do it yourself, though, there are a few tips I can offer that will make the experience of shooting your own art
more likely to succeed. I'll focus on photograph paintings and other 2D media in this
discussion. Sculpture is another story entirely. I'll also stick to tips for showing work on the web, but the basics of the
acquisition of the image applies to print as well.
Thanks
JSR Solution
[quote=Anuj Sharma]
Since I make my living photographing other people's art, my first advice to artists who want to do it themselves is to seek
professional help. We photographers have the right equipment and lots of experience to get it right the first time. Anyone
who has ever tried to photograph their own work will know that its a rigorous challenge in the best of circumstances, and a
downright waste of time and money if not done correctly.
If you must do it yourself, though, there are a few tips I can offer that will make the experience of shooting your own art
more likely to succeed. I'll focus on photograph paintings and other 2D media in this
discussion. Sculpture is another story entirely. I'll also stick to tips for showing work on the web, but the basics of the
acquisition of the image applies to print as well.
Thanks
JSR Solution
[quote=deekay][quote=iceco1d]I agree and disagree at the same time with deekay.
I find many insurance guys do a better job with hollistic "financial planning" than a wirehouse rep might do. At the same time, deekay may find my knowledge and implementation of insurance planning "pathetic" (which is why I outsource it to an insurance-only professional), while at the same time I might/probably find his knowledge of investment management equally "pathetic." Too many "jack-of-all-trades" going on industry-wide IMO. (btw deekay, I used you for an example only - I have no knowledge of your expertise, or lack of expertise, in the investment arena...just adding on to your point).[/quote] Well put, Ice. You're right - I couldn't tell you what the alpha or beta was on some fund, or the P/E is on KO. However, I can put together an asset allocation for a client, or show them the pros and cons of a VA vs. fixed annuity. That alone makes me as qualified an investment specialist as 95% of the "financial advisor" community (not referring to you - you're in the 5% IMO). Like you, I farm out the other stuff (investment management) because I don't have the resources a fund/SMA/VA manager has at their disposal. And I definitely don't want to become a "Jack of All Trades/Master of None". Frankly, I think we'd all make a lot more money if we just said what we did instead of obfuscating the truth with fancy terms like "financial advisor" or "wealth manager" or whatever. Damnit, I'm a Life and Disability Insurance specialist and proud of it! [/quote] Well, I think that pretty much sums up what I said. Pick your area of expertise and pursue it...[quote=Hank Newbie][quote=deekay][quote=iceco1d]I agree and disagree at the same time with deekay.
I find many insurance guys do a better job with hollistic "financial planning" than a wirehouse rep might do. At the same time, deekay may find my knowledge and implementation of insurance planning "pathetic" (which is why I outsource it to an insurance-only professional), while at the same time I might/probably find his knowledge of investment management equally "pathetic." Too many "jack-of-all-trades" going on industry-wide IMO. (btw deekay, I used you for an example only - I have no knowledge of your expertise, or lack of expertise, in the investment arena...just adding on to your point).[/quote] Well put, Ice. You're right - I couldn't tell you what the alpha or beta was on some fund, or the P/E is on KO. However, I can put together an asset allocation for a client, or show them the pros and cons of a VA vs. fixed annuity. That alone makes me as qualified an investment specialist as 95% of the "financial advisor" community (not referring to you - you're in the 5% IMO). Like you, I farm out the other stuff (investment management) because I don't have the resources a fund/SMA/VA manager has at their disposal. And I definitely don't want to become a "Jack of All Trades/Master of None". Frankly, I think we'd all make a lot more money if we just said what we did instead of obfuscating the truth with fancy terms like "financial advisor" or "wealth manager" or whatever. Damnit, I'm a Life and Disability Insurance specialist and proud of it! [/quote] Well, I think that pretty much sums up what I said. Pick your area of expertise and pursue it...[/quote] You may have said that, but you never defined what a "financial advisor" is. If I only sell insurance products, am I not a "financial advisor"? If I only sell investments, am I a "financial advisor"?Wow Thanks for the animated responses- ! I met with the Northwestern Regional Manager and wasn’t too impressed with him , but I do have to agree that since I’ve been a policyholder for so long- that’s a rather compelling point. I found out that I’d have to split commisions on any other Financial Planning products since I wouldn’t be qualified to write it. I’ll still pursue Northwestern, but the timeline with them is a few months out and AXA already offered me a position via a pretty non binding agreement. They’ll provide study materials ( we split the cost ) and sponsor me for the series 7 and 66. At least I could get started down the path . I do believe NWML is a superior insurance company and if they offer me a position , I’ll really have to consider it. I could see myself specializing in Long Term Care …
If you want to work for an insurance company, that's fine. If you don't want to work for an insurance company, that is also fine. What doesn't make any sense, though, is working for an insurance company that doesn't have competetive products. This business is hard enough as it is.
My point is that if you want to sell insurance, AXA isn't the best place to do it. If you don't want to be an insurance salesperson, AXA isn't the place to do it.Source URL:https://www.wealthmanagement.com/forums/rookies-trainees/axa-advisors-or-northwestern-mutual-or