For a Career Changer, MetLife, EDJ or?
I’m a career changer and I am in the interview process with both MetLife and Edward Jones. I have met with Independent Capital Management as well, but they want you to start with the 6/63 and then later on study for the 7. From what I have read here, seems to me you need your entire focus on building your career not trying to study for a fairly difficult test mid-stream.
As a newbie, I am looking for a strong training program. As I would prefer to focus more on investments, I am leaning more strongly to EDJ, but MetLife will sponsor me to take the 7, which I understand from reading these forums is a little unusual. However, I am completely on my own to study, short of a discount on materials by mentioning MetLife. A little background on me: I'm 48, worked mostly in entertainment and the only selling experience I have is booking myself when I did stand-up comedy. I enjoyed helping my fellow employees at my last job when it was 401k enrollment time to help explain their choices. I do understand this is a sales job, but why not sell something you enjoy talking about versus cars, boats or something else. I could probably use a little financial help out the gate. Though our monthly nut is pretty low, as we are surviving nicely on just the unemployment payments and have not had to tap into the severance package at all as of yet. Which would you choose or is there somewhere else I should be considering as well? In a related question, In my Jones research, I have discovered a vacant office not too far from where I would like to open, but it is in a terrible strip mall. Upstairs in a crummy center with a laundromat and a Del Taco. It does have an elevator, but I would bet money it would be broken the 1st time I had an elderly client. So, my question is this...is it possible to move a Jones office and pick up the remaining clients as well? Thanks in advance, ByeByeGolf P.S. No offense to poster Golf, whom I just discovered. I created the name when I figured starting up a new practice meant bye bye to golf.Another one?!?!?
I would look into Stanford Financial Group. Good cash base, reputable name, and I know they just lost a couple brokers.
This is why jones is squeezing the crap out of newbies… They hire thousands and have to replace thousands… This guy is more worried about an office(which he won’t get because there are 25 people in front of him for) than the training and study time/ability for the series 7
Since I am currently unemployed, study time for the 7 will either be paid for by EDJ, on their study plan or on my own studying with MetLife.
As for the office, I was just curious if they could be moved. It appeared to me this particular office had been closed for some time.I’d go to Met over Jones but that’s just me…
Some elements of Met I like better to be sure, but why would you choose them over Jones?
[quote=ByeByeGolf]Some elements of Met I like better to be sure, but why would you choose them over Jones?[/quote]
- Your prospect pool will be larger. Almost everyone is an insurance prospect but not everyone is an investment prospect.
- You can write large insurance tickets off people with modest incomes and assets
- Your payouts will be far better on both investments and insurance
- You will have the opportunity to do financial planning for your clients at Met. You will peddle product at Jones
- At Met you will make a larger difference in your clients lives and have an immediate impact
and least important but still relevant,
- Having Met Life behind you will garner more trust and respect than Jones
All points worthy of pondering. Thanks for your reply.
At Met, you’ll have access to Financial Profiles Professional & Forecaster - both are “planning” tools. Forecaster is “needs based” and Professional is a “planning platform”.
You'll peddle product at both firms.I don’t have an opinion on which firm other than to say that it doesn’t make sense to focus on just 2 firms unless many other firms were considered and now eliminated.
As for the insurance thing, sure it can be sold by an EDJ guy, but it's not the same. Compensation matters. It's too hard to sell much of anything if the compensation isn't high enough. An EDJ guy will starve selling supplemental disability coverage. This is simply because of the requirement to put it through the grid and not an EDJ knock.I can’t think of a faster way for a newbie to fail out of this business while opening a handful of nice accounts to be divvied up than by focusing on selling wrap accounts at Ed Jones. Met’s insurance portfolio will be substantially superior and offer a substantially higher payout than Jones. The investment side will be comparable.
Just read a piece in Esquire about one of their columnists trying to get a new job in this market. He was accepted by Metlife on the understanding that he make a list of everyone he’s ever met, and how much they’re worth. That was his starting prospect list.
I just don't like doing business with family.Good point. EDJ would NEVER encourage you to solicit friends or family.
If he qualifies, he can get a 19-week salary up to $1,200 per week.
This is based on pre-employment production before his contract starts. Because they're trying to sell "plans", he'll be able to sell investments along with insurance. Met is one of the largest insurance companies. He'll have all the investment platform that he'll want.Truth be told Borker, I've never ever been encouraged to sell to friends and family. Day one KYC they said its a personal choice, some do, some don't. It was completely up to me.Good point. EDJ would NEVER encourage you to solicit friends or family.
The 19 week salary has been mentioned by MetLife. I can base it on my past salary, however it appears if I take a lower amount my sales goals will be easier to reach.
These two firms are the ones I am furthest along in the process with thus far. That's why I included the ???. Are there other firms this board would recommend I look into before I start with either?Go with MetLife and tell prospects you chose them because you believe that folks should insure their retirement along with their lives, health, home and autos. Edward Jones SELLS risky investments to clients; MetLife ASSUMES the risk for its clients.
Should be a very easy sell in this environment.If you’re a hard worker and charismatic, you will do better at Jones. If you are a hard worker and smart enough to understand the ins and outs of insurance, you will do better at MetLife.
People seem to want to have a beer with their investment guy, but the insurance guy they want to be a numbers guru.
That is the most idiotic thing I’ve ever read on these boards.
[quote=Borker Boy]Go with MetLife and tell prospects you chose them because you believe that folks should insure their retirement along with their lives, health, home and autos. Edward Jones SELLS risky investments to clients; MetLife ASSUMES the risk for its clients.
Should be a very easy sell in this environment.[/quote] He could offer a MetLife annuity, MetLife insurance, and MetLife LTC policy to the same family, but do it through EDJ. Or he could say MetLife is a fine company, but Hartford, Lincoln, Hanc***, et al could offer a better product or a better price. Then he could sell them the one that best matches his needs. Then he could sell them a bond, stock, ETF, or CD. Don't know for sure, but my guess would be that as a MetLife captive agent, you're stuck selling your one company. Seems to me you'd rather have a multitude of options for your clients than just one company. You really are a tool aren't you? Find anywhere to jump to yet? AXA not hiring?Iceco1d if you are still there, you said this…
I think you can do it @ both, but If you want to do financial planning as a core of your practice, you're probably better off @ neither of these firms. If I did want to do financial planning as a core practice, what would be your firm of choice?Spiff, the Metlife guy could also sell those other products. The difference is that he can do it without having to put the products through the grid.
ByeByeGolf, if you want to make your money from financial planning, you probably don't want to affiliate with any broker/dealer. Broker/dealers are needed to sell financial products, but you need an RIA firm to sell financial advice. Except with rare exceptions, getting paid to do financial planning is a low paying career. One can make lots of money selling financial products for a commission and one can make lots of money managing assets for a % fee. The money simply isn't there for the financial planning.Not sure I know enough yet to answer this accurately, but I will give it a stab…
Basically I'd like to be able to talk to clients about how to get from where they are now financially to where they would like to be. And answer if that goal is a possible one. I would imagine I can do that almost anywhere. But when you mentioned financial planning as the core of a practice, I thought perhaps there were other avenues in terms of firms I was not aware of.[quote=ByeByeGolf]Not sure I know enough yet to answer this accurately, but I will give it a stab…
Basically I'd like to be able to talk to clients about how to get from where they are now financially to where they would like to be. And answer if that goal is a possible one. [/quote] What you're describing is using a calculator to apply the client's idea and then taking your knowledge of investments and finding a suitable investment allocation. Yes, you can do that anywhere. But... you've got to do more than help the client reach their "financial goals". If they are at "X" and they want "Y" in 5 years, what happens if they are sued for all they own? What happens in case of death? Disability? Long Term Illness? Unemployment? OR they have a very good real estate investment opportunity and would need to deplete their account with you to take advantage of it (and take your income stream from that client away from you)? At Edward Jones, you CAN answer those other questions and be paid for it (but there isn't much emphasis on those areas). But you can do a better job at Metlife and be paid MUCH better for it and do a better job for the client. I'm biased in where I would go, but I pose the question for you to ponder for yourself.“Basically I’d like to be able to talk to clients about how to get from where they are now financially to where they would like to be. And answer if that goal is a possible one.”
1) How much money do you think a client will pay for you to do this? 2)How many people will be willing to pay you this amount of money? 3)After your firm takes their cut and you pay your expenses, how much money do you think that you'll make? In case you don't know the answers to the above questions, let me answer them for you. 1) Not very much. 2) Not very many. 3) Very little. Financial planning = low paying job Financial plan implementation= high paying job Invesment management = high paying job The value that you can bring to the table is getting people to take action on the things that need to be done. That is sales. That is where the money is made. Telling people what needs to be done is easy. That is why it is low paying. Getting people to take action is difficult. That is why it is high paying. If you want to get paid to tell people what needs to be done as opposed to getting paid to get them to take action, EDJ and MetLife are both wrong places for you. You would want to avoid all broker/dealers.Seems to me the greatest plan in the world isn’t worth much unless you can get them to act. So yes, I am looking to get paid to get them to take action.
In terms of RIA firms, is there such a thing as an entry level position (or should I say, are there still positions in the current economy), or is it made up of people who gained experience elsewhere?I have worked at a large Northwestern Mutual branch in one of the nations largest cities and I can tell you for a fact that all they care about is insurance. At Metlife it will be exactly the same. 95% of the guys working their will only sell insurance, whole life at that. The other 5% will peddle mutual funds amounting to less then 10% of their business. I have seen the breakdown month after month, for the branch and individuals.
The comment about people being more inclined to invest with a insurance company then the 2nd ranked full service broker by Forbes magazine, then you have your head in the sand.
[quote=svm21]I have worked at a large Northwestern Mutual branch in one of the nations largest cities and I can tell you for a fact that all they care about is insurance. At Metlife it will be exactly the same. 95% of the guys working their will only sell insurance, whole life at that. The other 5% will peddle mutual funds amounting to less then 10% of their business. I have seen the breakdown month after month, for the branch and individuals.
The comment about people being more inclined to invest with a insurance company then the 2nd ranked full service broker by Forbes magazine, then you have your head in the sand.
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I guess you didn’t make it then. An insurance company can be a great place to build an investment business. It’s all about positioning.
If you can’t or don’t want to talk to your clients about insurance then someone else will and they’ll end up walking out with the investments before it’s all said and done.
Lets consider the facts at hand. Insurance companies, are by their nature more interested and supportive of insurance sales, specfically whole life. Evidence of this can be found in the monthly production report that each employee would receive. Not surprsingly it would only include life insurance, after all they are indeed a LIFE INSURANCE company. As far as “a great place to build a investement business” your mistaken. Out of the two offices under the managing partner consisting of 80 reps, only eight of them had their series 7. Two of them were the Investment Specialists. None had their CFP. After seeing this month after month I inquired about the % that investments contributed to their total production. I was devastated to learn that it was less then 10% and none of the reps had any ambition to change that. In fact more then one rep, said “I don’t believe in stocks or mutual funds, I’m putting all my money into whole life.” Sad. but true.
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.
SVM21, I believe that your comments are 100% accurate for your specific branch of one insurance company.
It is true that the insurance companies don't care about investments. The insurance company B/D operation is a break even proposition at best. The problem is that you are looking at this from the wrong point of view. Look at it from the rep's point of view. What does a high producing rep get from the insurance company? 80% + payout on GDC, insurance sales off the grid, pension, 401(k), health insurance, free office space, etc. People care about their rep and not their rep's company.Your right on 80% payout, we earned 85%, but that’s it. In our branch, we had to pay for rent, paper, stables, marketing materials, business cards, copies, prints, etc., your name it we payed it. Rent alone was $700 for a small office. And I’m sorry but I couldn’t make a living selling whole life to people who didn’t need it. I felt it was unethical. Northwestern Mutual has the highest term life prices out their, and for what reason? O that’s right, because you can convert to whole life. Who gives a sh*t? Their business cards even say “Financial Representatives.” Were not allowed to tell people were financial advisors due to SEC regulations, yet all of the reps lead people to beleive that they run a "insurance and investment practice."They lead people to beleive that their representative is capable of giving well rounded financial advice. Their not. They don’t. Their insurance salesmen. Thats its. There not advisors. I didn’t bust my ass for four years to be a insurance salesmen.
Typically with NML or a similar company if you are producing a decent amount of insurance, they won’t charge you rent. If you were a decent producer, you should have been able to get out of the rent charge.
Do you expect any company to pay you 85% and buy you staples? You can't make a living selling whole life insurance to people who don't need it. You can make a fortune selling it to people who do need it along with getting a payout of 85% of GDC. You could have also make a lot of money selling term insurance outside of NML if you didn't like their term. NML is my biggest competion. Some of those guys are just insurance salesman. Others have very comprehensive practices and do a great job for their clients. Sorry, but it sounds as if the issue is you.Devastated? Wow. And just how far have all those "investments" gotten our clients over the past several years?
Lets consider the facts at hand. Insurance companies, are by their nature more interested and supportive of insurance sales, specfically whole life. Evidence of this can be found in the monthly production report that each employee would receive. Not surprsingly it would only include life insurance, after all they are indeed a LIFE INSURANCE company. As far as “a great place to build a investement business” your mistaken. Out of the two offices under the managing partner consisting of 80 reps, only eight of them had their series 7. Two of them were the Investment Specialists. None had their CFP. After seeing this month after month I inquired about the % that investments contributed to their total production. I was devastated to learn that it was less then 10% and none of the reps had any ambition to change that. In fact more then one rep, said “I don’t believe in stocks or mutual funds, I’m putting all my money into whole life.” Sad. but true.
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.
Anonymous which insurance company do you work for?
Lets make this clear. If someone wants to deal primarily with investments then they should avoid any/all insurance companies. Theres a reason why there not called “full service brokers.” If someone want to deal primarily with insurance and sell a mutual fund one every three months, then they should work at NWM, Met, Mass, etc. They will make truckloads of money and be extremely happy.
Listen Porkerboy, I was devastated for several reasons. One during the interview process they lead me and many others to believe that we were advisors and investments were going to be a substanial part of our business. They lied. Flat out. I liked my bosses alot, hell I even went to the MP house and went swimming. You are right that the problem was me. I wanted to help people with investing and retirment planning, not just selling them LTC or Life insurance. Will I sell those products at my new firm? Sure, when the situation demands it. If they could benifit more by investing in XYZ stock, bond, etf, index mutual fund then I will do that. By leaving a INSURANCE company and working at a full service broker I can provide my client a TRUE investment and insurance practice.
In regards to Porkerboy’s comment, pertaining to the poor performance of all investments in the past 24 months. To claim that this 50 year tragedy is the norm is very short-sighted.
A good whole life sales pitch for the old widow, “O but look at the Cash Surrender Value!!,” but transparent and pathetic. God have mercy on all your clients. Hopefully you will fail before you do any more harm.
I work for Anonymous Financial. Keep in mind that most insurance B/D’s are independent. Their reps are not employees of the B/D. Investments weren’t a substantial part of your business because you didn’t make them a substantial part of your business.
Your problem is probably that you were doing $50,000 of insurance commissions and $20,000 of GDC. There is nothing that would have stopped you from doing $50,000 of insurance commissions and $500,000 of GDC. I'm curious. What will you offer that I can't? "A good whole life sales pitch for the old widow, "O but look at the Cash Surrender Value!!," If you think whole life is about the cash surrender value, you don't understand the product.
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. Hmm maybe it has do with the unethically high commissions!
Ok anonymous, I will puff up your ego, which Insurance company is honored to have you as their broker? What company emblem does your business card have? Hm?
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 not getting through to you. I quit.
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=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. Hmm maybe it has do with the unethically high commissions!
Ok anonymous, I will puff up your ego, which Insurance company is honored to have you as their broker? What company emblem does your business card have? Hm?
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 not getting through to you. I quit.
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f*** you and your high commissions, you little bitch. How much profit does your doctor make when you have the sniffles? Teachers salaries are pure profit. So was your dad’s salary. Did you know that their was at least a 50% markup on the last box of cereal that you bought?
Wow, did we hit a nerve? Do you work for AXA ?
[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.
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,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?
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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.
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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.
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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.
If I may ask another question, if I wanted to focus more on the investment side, and let's for a moment pull EDJ out of the mix, is there another firm I should consider? Is anyone else hiring career changers at this time?
[quote=ByeByeGolf]
If I may ask another question, if I wanted to focus more on the investment side, and let’s for a moment pull EDJ out of the mix, is there another firm I should consider? Is anyone else hiring career changers at this time?
[/quote]I’ve seen ads for Waddell
[quote=ByeByeGolf]
If I may ask another question, if I wanted to focus more on the investment side, and let's for a moment pull EDJ out of the mix, is there another firm I should consider? Is anyone else hiring career changers at this time?
[/quote] Not in the numbers EJ hires. But everyone is hiring the right person. You just need to find a way to prove you are that person. Pitch yourself the way you would anything else and don't take no for an answer. It is up to you.I would keep looking very hard at Edward Jones.
With the BEST series 7 training in the industry, and the HIGHest passing rate for the test, and getting paid to study.....go with Edward Jones.do you have a problem or something icecold???
Also, anyone else on the Insurance side I should consider as well? By that I mean with good sales training and some salary to start.
Ice, are you affilated with AXA? From what I understand alot of AXA rep’s have large books generated from 403(b) business. You mentioned something along the lines of that earlier in the thread. I’m just curious because I interviewed their a couple months back and have a friend there. Just curious to see what you think.
O ic. As for AXA, I’m not their. That place is a joke. I’m at the 2nd most hated firm here, Eddie Jones.
[quote=ByeByeGolf]
If I may ask another question, if I wanted to focus more on the investment side, and let’s for a moment pull EDJ out of the mix, is there another firm I should consider? Is anyone else hiring career changers at this time?
[/quote]You might want to check out MSSB. I just got an offer from them.
I’m at a loss for wanting to focus on insurance. I don’t know if you’ve got a trail over 100K in the last 12, but …
You can look at Tradepmr, consider Cantella, and if you’re over 100K, triad-advisors.com.
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