"Meeting" with NWMF Monday, should I even attend?

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Jun 10, 2011 5:03 pm

Yep, as the title suggests I have this "meeting" monday, i'm not sure if this is an interview or what.

I wonder if this being called a "meeting" has anything to do with me writing in my cover letter that I'd like a career path in actuary or finanical advisor/planner. They are calling this a meeting, and they didn't go into details as to what this was about on the phone, just asked me to schedule a time. I was going right out the door when they called, so I didn't get a chance to talk to them more in detail. I'm wondering if they are just going to try to get me to accept a sales position.

Jun 10, 2011 5:55 pm

I have a friend who works for NWMF. I actually spoke with him this week. He does seem to like it, but I can tell he is already becoming burnt out on selling life insurance. If he can sell 30 lives in his first 6 months (he is on month 6), he gets to keep his job and they will bestow upon him the honor of sitting for his Series 6. I asked him about when they will sponsor him for the 7 and he didn't have an answer. I talked with him for about an hour in my office and kinda felt bad for him, but he is a young guy straight out of college so he has to put in his dues I guess. I asked him about their proprietary MF's and he didn't know anything about them. It sounded like they wanted to keep him selling insurance and if he stayed around long enough, they would eventually let him sit for the Series 7. I have visited him at his office and there was a cheesy feel to it. There were the typical cubicals and the "top" guys were in these cramped little offices that were about 8x8. Maybe a little bigger, but they were very small.  A couple of the guys wore very sloppy fitting dress shirts with baggy slacks. Gave me a used car salesman feel. I actually interviewed with them back in the day and they had this "we are better than everyone else" attitude that put me off real quick. 

Moral of the story is go and see what they have to say if you want. Know that you will be selling Life Insurance for at least 3 years. If you want to be a Registered Rep, Financial Advisor, Investment Advisor or whatever you want to call it, go and get that job. Getting your foot in the door at an Insurance company so you can eventually become a Financial Advisor will only lead to you selling insurance for quite a long time. If you want to have fun, you should push the issue of how long you have to be with the company until they will sponsor you for the series 7.

* Disclaimer- This is my experience with only one branch office of NWMF and I can assume that not every office is the same.

Dec 21, 2011 11:17 am

Don't waste your time unless you want to be an insurance agent. The guys in my town are not very well respected. Kinda looks like it is a chop-shop. Benefits go to the "established" agents. This is a reps forum, which would leave me to believe you are not interested in selling Whole Life and annuities exclusively. I would not do it............unless you are looking for the insurance biz only.

Jan 24, 2012 9:04 pm

NMFN rep here, 1 year in.  Don't do it.  Not unless you have 100 friends who you want to bring in and meet with you and beg them for 5 or 6 of their friend's numbers.  They tell you in training that you'll find out who your friends are, but they didn't tell you it's because your friends won't pick up anymore when you call them.

I went a different route.  All business owners, not a single friend or family member.  Toughest year of my life, and if I didn't have my wife's income, I'da starved.  Sponsorship for your Series 6 and 63 is after 6 months in (if you make the quotas), and they strongly discourage a 7 and 66.  Whole life insurance is the best thing since sliced bread. Additionally, there are a ton of monthly expenses that they do not disclose to you in order to work in their office, definitely ask them what the charges for all printing and misc office expenses are so you know truly how to budget your finances.

llcoolj said it best.  Don't waste your time.