Financial Advisor?

[agent m]

Unless I'm wrong ( happens frequently ), that still beats industry average for failure rate right? I'd say almost 1/4 is pretty strong.

 

[Arookaria]

Unless I'm wrong ( happens frequently ), that still beats industry average for failure rate right? I'd say almost 1/4 is pretty strong.

I think it does I read somewhere on the forums that life agent failure rate is over 90%.
I'm sure someone will correct me if I'm wrong.

Sent from my IPhone

 

[Larry Tew]

The last LIMRA statistics say that only 11 hires out of a hundred survive to the end of the 4th year. Knowing their measuring criteria would make that number more meaningful.

 

[TheCaspian]

I think it does I read somewhere on the forums that life agent failure rate is over 90%.
I'm sure someone will correct me if I'm wrong.

Sent from my IPhone

In My initial interviews with NYL,

11% Industry wide average 3 yr survival rate

23% NYL company wide 3 yr

40% My particular office 3yr

 

[rccola]

In My initial interviews with NYL,

11% Industry wide average 3 yr survival rate

23% NYL company wide 3 yr

40% My particular office 3yr

All very accurate as I was told the same stats. However I'm with a p&c company. Find a good office that has a very high retention ratio around 40%. My specific office is 41%. A good agency should know this statistic.

 

[Arookaria]

In My initial interviews with NYL,

11% Industry wide average 3 yr survival rate

23% NYL company wide 3 yr

40% My particular office 3yr

40% with your office looks great! Considering the 11% industry rate

Sent from my IPhone

 

[Norwayguy]

40% with your office looks great! Considering the 11% industry rate

Sent from my IPhone

Ah sounds great but know way of knowing if its true as they won't show you the name of every agent hired over the last 5 years.

 

[rccola]

Ah sounds great but know way of knowing if its true as they won't show you the name of every agent hired over the last 5 years.

Well, don't trust the recruiters word either way. You have to do some of your own due diligence. I called all the agents with my company in my city and had a good long chat with almost every one of them. The "newest" agent out of the 8 I spoke with had been there 2 1/2 years.

Also don't forget to check on 'glassdoor.com' - you will be able to read reviews by varying levels of employment with your company. One of the "cons" my company had was that there were not enough open agent slots due to the low turnover. I found that rather goofy.

 

[TheCaspian]

Glassdoor is tricky, because a lot of back office and administrative people also come there to grind their gears about what's wrong this month.

I would take the conventional wisdom of this forum over general employer review sites, although they can provide location specific advice.