New Grad: Critique my 5-year Career Plan

[clupaul]

GURU, I can appreciate your comment; however, it was not intended to present a better-than-thou attitude. You must agree that a better educated agent can provide more assistance to his client during his early years in the industry than one who is becoming educated thru the trial and error method.
During my last 37 years in this industry, I have found a great deal of confidence came from being better educated. To each his own, if you do not wish to pursue further education to provide better assistance to your clients, there is certainly nothing compelling you to do so. If it has worked for the CPAs and the CFPs and the CLUs and the etc., etc., then why should I not recommend it to a newbie requesting an input.

 

[shawnmwalker]

I just got out of a CIC class. Part of me was torn about the class.

Each three day class is $425 and gets all of your credit hours. Once you get the designation you have to take a class every year to maintain the designation! That is the part I have a hard time getting my head around.

I learned a ton in the class. I love learning more and more about the policies we sell every day.

I am with CLUjohn. If you decide to go the Ins route at any end of the spectrum, go get some industry designations and make yourself more marketable over the course of your career, you're smart, you're young, if you go the P&C route get a CPCU.

 

[GreenSky]

I just got out of a CIC class. Part of me was torn about the class.

Each three day class is $425 and gets all of your credit hours. Once you get the designation you have to take a class every year to maintain the designation! That is the part I have a hard time getting my head around.

I received my CIC in 1980 and stopped doing the annual classes about 5 years later.

Thing may have changed by now (hopefully) but the only advanced class they had was insuring oil and gas contractors. So I was forced to sit through 3 days of classes that I could have probably taught.

It got to the point that I was gaining no knowledge and aside from me, nobody was impressed with initials after my name.

Richard S. Bronstein, BA, CIC, MSAA, CBA, ACBA, CLTC , CSA
Licensed Field Underwriter

 

[shawnmwalker]

Green Sky has a lot of wisdom. No joke. He has a point. the initials are nice. they make you marketable, but your client has no idea what they mean.

 

[WMG]

Well it appears that this thread has gone off on a tangent, LOL. That said, the original poster is brand new in this industry. That said, in my opinion, taking CLU, ChFC and even CFP courses, could be a very good thing. Even more, MSFS.

Be that as it may, at some point in the person's career, the designation does not assure that he/she can better serve their clients. It doesn't assure they can do a better job or is smarter than someone who doesn't have the designation. Yes, to each their own, but there are top quality professionals with the designation and top quality professionals without.

I have no dog in this fight. I've always been objective and feel both sides of the argument have valid points. In full disclosure, I have designations. I don't bash those that don't. I don't frame the designation as being a professional and those that don't have them are not. I don't do anything of the like. I've met numerous, well known, nationally known professionals, super successful, who do great work for their clients in many areas...and some who have and some who don't.

 

[AlTheGud1sRtakn]

Well it appears that this thread has gone off on a tangent, LOL. That said, the original poster is brand new in this industry. That said, in my opinion, taking CLU, ChFC and even CFP courses, could be a very good thing. Even more, MSFS.

Be that as it may, at some point in the person's career, the designation does not assure that he/she can better serve their clients. It doesn't assure they can do a better job or is smarter than someone who doesn't have the designation. Yes, to each their own, but there are top quality professionals with the designation and top quality professionals without.

I have no dog in this fight. I've always been objective and feel both sides of the argument have valid points. In full disclosure, I have designations. I don't bash those that don't. I don't frame the designation as being a professional and those that don't have them are not. I don't do anything of the like. I've met numerous, well known, nationally known professionals, super successful, who do great work for their clients in many areas...and some who have and some who don't.

I'd like to get something just to have it in my title for the same reasons you and others have mentioned. BUT, I'm also of the opinion that if I were new to the industry and had the money to drop on the classes for the designation and the time to take them, I'd be better served spending that on getting in front of clients. After a few years once things were more stable I'd be more interested in pursuing a designation. I think getting past that critical every minute and dollar counts phase would be my first priority though.

 

[WMG]

I'd like to get something just to have it in my title for the same reasons you and others have mentioned. BUT, I'm also of the opinion that if I were new to the industry and had the money to drop on the classes for the designation and the time to take them, I'd be better served spending that on getting in front of clients. After a few years once things were more stable I'd be more interested in pursuing a designation. I think getting past that critical every minute and dollar counts phase would be my first priority though.

Spending the money on education/designations vs. spending the money on "getting in front of clients" (and I am not sure how you would spend money doing that) is a different issue. If you have a specific amount of money you want to spend -- none of this is an overnight ROR. Period. You don't get a designation overnight, and it doesn't pay off having one overnight. It may not even help you at all, but that's a different discussion altogether.

How do you plan on spending money "getting in front of clients" as you put it? Perhaps you should divide the money and spend part on that and part on the initial class or classes for the CLU/ChFC designation. Yes, I get your point that every minute and every dollar counts -- but don't be penny-wise and dollar-foolish. Getting in front of clients is the most important thing in our industry. However, you are brand new. What you are going to do when you get in front of them is also critical. Sure, you can make it easy and bring an expert, learn on your own, trial and error, training, use a manager at first, and so on -- and the classes, designation, etc. may or may not help you in that moment.

So how do you plan on spending money getting in front of clients? Can some of those dollars be invested elsewhere? And, dollar one that comes in, maybe it should be earmarked for_______________________.

All the best and good luck.

 

[clupaul]

After reading the posts by Super genius, I must confirm that I am in complete agreement. When one plans to construct a house, the foundation is generally the beginning; in planning a career, creating a good firm foundation should be considered as a good launch pad also.
That foundation will be with the agent throughout his/her career.