Life insurance junkies
Are there firms that offer training and salary, but also heavy on life insurance and annuities?
Yes, I have heard of small training salaries from some insurance firms.
I’ve talked to new FAs with insurance firms that were getting small salaries. You can also easily find a salaried role at a bank branch or credit union. Just make sure that the BOM is okay with a tight focus on certain products.
The best training salaries come from the brokerage side of the business. I’ve seen up to $120K, although $30k to $80k is the typical range.
Since this forum is mostly about traditional brokerages, perhaps this isn’t the best place to ask…
AXA would fall into the same bucket, in my opinion. Honestly, if you want to go the route of an insurance-driven brokerage firm, look at those that came to be through insurance companies (AMP-AmEx-IDS).
There are certain firms that market themselves as full-service brokerages, but really focus on high-pressure sales of certain annuity, insurance and proprietary fund products. They tend to work with middle-class inexperienced investors. They hire lots of new brokers, but offer little training. Starting salaries, if any, are small.
Be sure to investigate any firm’s product portfolio and marketing materials before you commit. I suggest you avoid any firm that seems unwilling or unable to deliver on products and services as advertized.
I'm not sure if they are in your area but try New York Life. You'll figure out pretty quickly if you are cut out for this ...
BTW, why do you want that type of concentration? If it's about the vig just go independent...