Training Programs
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From searching through some of the threads I see that there is some debate over who provides the "best" training programs. The general opinion (and please correct me if I'm wrong) is that EDJ and the wires provide the best training programs, the quality of the training at insurance companies is largely dependent on the agency you join and that bank programs offer little to no training. Outside of exam prep, what is it that constitutes a "good" training program? Is it sales training? Product training? Coaching from experienced mentors? Any input is greatly appreciated.
Jones training is all about activity. They teach you how to prospect via doorknocking, then follow-up via phone call. I feel it is done this way simply because early on it is the most important factor determining whether the average person succeeds. After you prove you will prospect relentlessly, ie accomplished that which they deem most vital, will they start the REAL product training.
To me the best training would be that which encourages prospecting but also lets you do as much joint work as humanly possible in years 1 and 2. You run 20 appointments with a 20+ year guy and you will learn more than they could ever teach in a classroom. To this day I still use countless phrases and questions I heard those teaching me use during appointments. Their vaule is worth way more than the % you will pay them on a split case.EDJ does partner you with a mentor, and a fieldtrainer(mentor before you can sell) and they are more than willing to let you sit in on appointments. Jones training is great for what Jones does, American Funds(or any of the preffered funds) and bonds… There is a general assumption on stocks that you will follow the Jones recommendations and build portfolios based on that.
The exam study is the best, there were questions on the 7 that were verbatim what was on the Jones study material…
However if you move on, no options training, or other asset management tools(because they don’t use the products, UITS, Alternative Investments, ETFS(in wrap now), index funds, etc…) but then again there is no reason to train you on products that you can’t use…
FYPwirehouse firms provide the best training for gathering assets and charging a wrap fee.