MM Career Fees and Rent

[BNTRS]

It really pisses me off when I see this sort of stuff.

The GA is making more than enough on your business to pay overhead and then he goes and charges you for misc office bs.

As a career agent you give up a lot for that "privilege" so there's no need for you to shoulder expenses. Too many hands in the pot.

They want to meet your fiancé, seriously? Why?

 

[DHK]

Meeting the fiance is a step that (I think) a good GA will take in order to be sure that SHE knows the kind of career that Advisor06 is embarking on.

 

[Advisor06]

Meeting the fiance is a step that (I think) a good GA will take in order to be sure that SHE knows the kind of career that Advisor06 is embarking on.

I agree I thought it was a good idea and it really made me feel that she would have more of an appreciation and respect for what I do for a living.

As for the fees I am guess anywhere I go is going to have some sort of "out of pocket" to deal with but it hurts a little since right now I work from home and my expenses are practically zero so it adds to the risk of leaving my current company a comfort level. But then again I haven't been happy for a while and I keep trying to fool myself that things will get better but with working the same list f people over and over how much better can it really get?

Do you guys see anything real reason to not go with MM or should I keep looking into other opportunities? Any suggestions?

 

[DHK]

Ask if you can skip the office fees and get the "detached office allowance" instead.

Also, the idea of having your fiance there isn't to garner her respect and appreciation. It could be to expose the real pitfalls of this business, the irregular cash flow... and will she be able to handle that AND be supportive of you.

This business can be a nightmare, or a dream come true. She needs to be supportive during both phases, or it'll be an ongoing nightmare for you - even if you're making good money.

You can search my old posts for my own (admittedly bitter) comments about my experience at my MassMutual agency.

 

[Advisor06]

Ask if you can skip the office fees and get the "detached office allowance" instead.

Also, the idea of having your fiance there isn't to garner her respect and appreciation. It could be to expose the real pitfalls of this business, the irregular cash flow... and will she be able to handle that AND be supportive of you.

This business can be a nightmare, or a dream come true. She needs to be supportive during both phases, or it'll be an ongoing nightmare for you - even if you're making good money.

You can search my old posts for my own (admittedly bitter) comments about my experience at my MassMutual agency.

I dont think they will let me do the detached thing since they have mandatory office days such as 8-8pm every Monday and several mandatory times during the week. I have been in the business for a few years so my fiancé has a good understanding of this business but I really haven't had much of a struggle but my numbers have never really been big my best FYC year was about $52k and most others about $30k but that was just life business.

Do you think I'm making a mistake with going with them? Do you think I should look somewhere else or stay where I am?

 

[DHK]

Every office is different. Also, apparently, there was a MAJOR shake-up of the GAs here in California. The GA I was under was let go. So were many agents in the local office I'm now near.

IMO, having the structure and culture of doing a lot of calls during the day was what I was missing.

I don't know what it is, but every career agency I've been in... they just don't make calls in the office! I think this affects the mentality, culture and management of the agents. If more agents were making calls, more would get done in the office.

Just my opinion.

 

[BNTRS]

All right, I'll be less pitch-forky and more constructive.

No company is going to make you a success. Mass doesn't have any corner on an ability to get you to the next level. But, there may be some psychological power you pick up from being able to say you are a Mass agent. If that works for you, congratulations.

The company has a good whole life product, and a pretty good DI product.

Outside of that, you'll sell their proprietary term insurance under the plan to convert to their whole life later or to people who hold some mental block about buying from lesser rated companies (and that's a dangerous game because NML and NYL could steal your lunch).

Term outside of that you'll broker through Ash, careful doing this when you're knew. All of that "you're an independent advisor" BS isn't really a coveted feature until you've been around for a while, or produce enough business to make sure your sales manager's mortgage is paid for the year.

You'll sell their UL (maybe) until you know better. Mass is not a UL focused company and has not interest in competing.

On the annuity side, Mass doesn't have a lot to offer. They know this, and you'll likely face little resistance in going somewhere else.

You're access to indexed products is severely restricted, which could be somewhat problematic.

You're life production isn't likely going to get better with investment products being added to the mix.

Here's a more important question in all of this that will likely be much harder to answer than you first think. Why are you unhappy with your current situation? What's stopping you from being happy?

 

[Advisor06]

All right, I'll be less pitch-forky and more constructive.

No company is going to make you a success. Mass doesn't have any corner on an ability to get you to the next level. But, there may be some psychological power you pick up from being able to say you are a Mass agent. If that works for you, congratulations.

The company has a good whole life product, and a pretty good DI product.

Outside of that, you'll sell their proprietary term insurance under the plan to convert to their whole life later or to people who hold some mental block about buying from lesser rated companies (and that's a dangerous game because NML and NYL could steal your lunch).

Term outside of that you'll broker through Ash, careful doing this when you're knew. All of that "you're an independent advisor" BS isn't really a coveted feature until you've been around for a while, or produce enough business to make sure your sales manager's mortgage is paid for the year.

You'll sell their UL (maybe) until you know better. Mass is not a UL focused company and has not interest in competing.

On the annuity side, Mass doesn't have a lot to offer. They know this, and you'll likely face little resistance in going somewhere else.

You're access to indexed products is severely restricted, which could be somewhat problematic.

You're life production isn't likely going to get better with investment products being added to the mix.

Here's a more important question in all of this that will likely be much harder to answer than you first think. Why are you unhappy with your current situation? What's stopping you from being happy?

As far as my current situation I am unhappy with only being able to sell to my "list" and the company and the ga offer ZERO support and additional training other than telling you to knock on the doors of the people you service if they wont pick up or tell them "there have been changes to your policy and that's why we need to get together". The company only looks at you for LIFE apps and with no care of premium they only want apps even if you make no money but you better have apps to keep your position even if you made $400 for the month but sold 10 apps. Also probably about 99% of the people on the list are make a small amount and feel they are already paying too much for insurance and I can't do anything for then since the company will no pay me if I replace or exchange a current in force policy.

I feel like I am the same agent from years ago because I know not much more from when I first started. One of the big things that impressed me with MM or should I say X financial agency is that the owner and the sales manager seem to be good guys with a proven successful sales background and they offer alot of training and support to their agents. Yes they bring in plenty of new young agents but turnover is part of the business.

What I am stuck on is getting over the comfort level of leaving my first ever agency and proving to myself I can make more than I have been the past couple years ($30k Life FYC) and now having someone to answer to along with having to go to an office to Work out of (currently work from home). I don't mind office time but they require every Monday to be a required 8-8pm day all office making calls (6hrs calls) and meetings the rest. Then I think there are small blocks of required office time. Other than that the agency seems good and very professional and people seem happy but let's be honest my happiness depends on my production.

Stuck between a rock and a hard place!!!

 

[BNTRS]

So you lose the current list of prospects to call, and now will be forced to find a new list of people. The good news is, they likely won't be Mass clients, the bad news is, they'll have no clue who you are when you call (that can also be good news at times).

If you have no hold up on making calls, and can deal with a lot of people who say no. And then working a bunch to maybe make money (which you've probably already had to deal with) then the only hold up is the getting in front of people.

It sounds like the client profile you're going after now is possibly a little low end. Mass is going to go after a completely different profile. You'll have to excel at meeting with and advising a higher end market.

This may sound more attractive than it really is. Some people excel at this market, while others don't.

When I was a career Guardian agent (same market as Massmutual) we hired a guy who, despite being a great, friendly, and approachable guy, was not comfortable in the higher end market...he didn't last long.

If you can afford to meander through Mass for a year or two, worst case scenario is you'll learn some stuff about the more advanced market that could be invaluable.

Now that I'm independent, I have no interest in being career again, but if I had to start over (say I bumped my head and forgot everything) there's no way I could be the person I am today if not for the things I learned while being a career agent.

 

[Advisor06]

I wouldn't necessarily say I am going to lose my list since I will still have all their info to approach them with my new endevour but the only stipulation is I cannot replace anything for one year. I really need to hit the ground a make money ASAP that is why I am having such a difficult time making this decision.

As far as working with the higher end market I feel comfortable working with anyone as long as I am taught properly. Do you think Mass doesn't want the average joe as a client or do you think I should look elsewhere? I like the fact I can sell a good mutual company but still rep ash brokerage to sell for another 20 companies.

Would you say to pass on this opportunity and just stay where I am since I know I can at least do about $30k FYC in life sales where I am now but my goal is to get to the next level and learn more while trying to make MUCH more money than I am now.