Thinking about taking another shot.....Mass Mutual

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Apr 19, 2011 2:43 pm


wanted advice from anyone inclined to give it. I had a brief career at Merrill.  It was not successfull. Most of the fault lies with me. Without too much detail, a family event took place that resulted in my being admitted to a hospital with a nervous breakdown. I ended up on an LOA in the middle of the training program. Not a good move clearly. Needless to say, I didn't last much longer around there. In all honesty, I would have left anyway. Just not a good fit.

I want to get back on the horse but would like to simplify my life. I'm considering Mass Mutual. First, I met with my possible future boss. Super nice guy who seems allot more like a mentor than a Dictator. Second, while I'm liscensed to do it all, I think selling their core product offering will be a little less involved than trying to get min. TOA"s of 250K through the door at Merrill.. Also, the core offering is my "in" to at least have discussions re Retirement/other FA business. Also, their payout programs/incentives seem a little more robust. Finally, I have no problem selling a life insurance policy to everyone I know. They all need it and they may as well buy it from me! I had to pause when it came to trying to get FA business from friends and family though.

The drawback is commission only. HOWEVER, one lesson learned is that the presence of a Base Salary is a flawed sense of security. If you're not producing, I don't care if your base is 200k per year, you're gone. If you are producing, you'll make money at either. I guess the real question (the only question) is: Am I a producer or not?

Does anyone have experience with Mass Mutual? Good Company? Are they for real or is it just some pyramid scheme where people go around exploiting new guys? I all in 100% this time. Just want to make the right move.

Any thoughts would be appreciated.

Apr 19, 2011 3:58 pm

MassMutual is like every other LI company (and many WH's).  Bring in as many "new" guys as possible -> Hit up your family and friends -> Bring in 10-50 new clients -> Not make enough money to live or burn out -> Leave the business -> Senior advisor ends up with 10-50 of your friends and family that he wouldn't have met otherwise.  Its one hell of a model..... if you are the guy at the top of that pyramid.  My $.02.

Apr 19, 2011 4:10 pm

I'm meeting with them again next week and plan to address that. I know many of them work that way. I wouldn't mind selling their products but, to your point, if it's just another pyramid scheme, I'm not interested. At the same time though, someone has to be "that guy" collecting 20 new accounts off the new guys.....may as well be me at some point if that's possible.

Apr 19, 2011 10:18 pm

What city, state are you in?  It depends on the office and I happen to have a good friend who is a general agent with Mass and can get you a little more info.  But for the most part you are completely wrong about it being easier to sell their life portfolio vs bringing in a 250k account.  Their products are inferior to other carriers and is much more costly.  Any potential client who does their own homework will easily realize this and you will look unprofessional.  In addition the payouts are half of what they would be if you were with an independent insurance agency.  Also that subsidy they tell you about for new agents has a lot of strings attached, as my friend has mentioned.