Waddell And Reed Vs. MassMutual
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Hello, I have been lurking here awhile. W&R and MM have contacted me about possible jobs. I have 7&63 which I acquired from a boiler room type company, but the licenses were never activated, (I quit on my 1st day after they asked me to make up a fake last name). FINRA told me a that member firm could activate the license by writing a letter to them when I get hired. I also have an LLC with a small book of clients.
My question is which firm do you guys/gals think is better to start with??? Also, should I put the LLC on my resume or should I dissolve it because it might look like I couldn't do it on my own??? Thanks in advance for responses, MG[quote=mdgcap]
Hello, I have been lurking here awhile. W&R and MM have contacted me about possible jobs. I have 7&63 which I acquired from a boiler room type company, but the licenses were never activated, (I quit on my 1st day after they asked me to make up a fake last name). [/quote]
Nothing wrong with that. If you've got a list of names that are on the DNC list it would be wise to use a fake last name. That way if they demand to speak to your supervisor or file a complaint to whatever department deals w/that stuff then they'll essentially be filing a complaint against a non-existent person. But if the phone call goes well then by the end of the call they'll have forgotten your name and you can say "As a reminder, my name is Bill Schneider and you can reach me at XXX-CCC-EEEE if you have any questions. See you next Tuesday." And all will be well.The fake last name just one thing...
I was supposed to tell people that I sent them a Fedex about a yahoo buyout which I never sent and neither did the company... Also I wasn't supposed say the full name of the company I worked for "just in case something happens"... I'm not a liar so it was hard for to go through with this stuff... You telling me all firns are this way???[quote=mdgcap]
The fake last name just one thing...
I was supposed to tell people that I sent them a Fedex about a yahoo buyout which I never sent and neither did the company... Also I wasn't supposed say the full name of the company I worked for "just in case something happens"... I'm not a liar so it was hard for to go through with this stuff... You telling me all firns are this way??? [/quote] Yes. You think you just call random people up and they say "Ahh, Rick, so glad you called! You know I just left my job 2 weeks ago and have an old 401(k). How do I get this moved over to you??? Thank you SO much for calling me at this hour!"The guy who responded to you is an idiot. We have only our integrity in this business and you should do everything you can to preserve it – even if there are others around who challenge that old fashioned notion. You were right to walk. Keep walking until you find the place that you’re comfortable in.
I’m looking forward to your penpals answer about whether or not he lies to his clients. Should be interesting.
No, I don't lie to my clients. Nowhere in my post did I insinuate that.So you lie to your clients???
To answer your question, Mass Mutual focuses on insurance Waddel is more investments it depends what you want to sell as your main business insurance or investments.
Thank you for the answer, that is what I figured...
I wonder why Waddell doesn't advertise and what kind of freedom they give you... I pretty bearish on equities so I focus on bonds and precious metals...[quote=mdgcap]
Thank you for the answer, that is what I figured…
I wonder why Waddell doesn't advertise and what kind of freedom they give you... I pretty bearish on equities so I focus on bonds and precious metals... [/quote]My college girlfriend's uncle was in precious metals and he just raked. The guy's house was was just sick.
- He owned a chain of about a dozen pawn shops in the Twin Cities area.
I would go with neither. An Indy firm should pick you up since you already have your licenses. If you go to W&R and build a book, be prepared to have other Reps from other firms snatch up your clients. I'm about to do it on Monday and I am a newb...
I'm looking to buy books of business. Email with info of what you have at available at [email protected]
"...I wonder why Waddell doesn't advertise and what kind of freedom they give you..."
Good question. Everytime you meet someone and tell them you work for W&R they always ask: "Who? Never heard of them..."
Freedom? I left there before I was activated but associates there tell me they keep them on a very short leash.