Warning! If you are considering an Allstate Financial Services EFS position. Run away - do not look back . Do not complete pre-employment information. Do not sign any documents.
Warning! If you are considering an Allstate Financial Services EFS position. Run away - do not look back . Do not complete pre-employment information. Do not sign any documents.
The EA's are the backbone of the organization. Every Allstate office that you see on the street corner has at their disposal an EFS and an EBS. This is their 3-legged stool concept.
You will have two legs of the stool from which to draw business. And as you have stated, the EFS's are doing very well. I would not hesitate for one minute to go with Allstate. On your side of the fence you will find they are a great company to be affilliated with. Just my .02 cents
Zydo, are you a recruiter or in management with Allstate? You just sound a little too enthusiastic to me!
I responded to an Allstate recruiters. I was non committal, but they were persistent and offered me the opportunity to audit their training class in Chicago. I accepted. Allstate asked me to complete pre-employment paperwork. I did not complete all of it - the paperwork was ready for my signature. For example I did not sign their EFS contract; I did not sign their authorization to contact my employer. The thought process was if I accepted an offer we would have most paperwork out of the way. I would not commit to an EFS position until EA relationships were established to my satisfaction and various other concerns. The understanding was clear – I was checking Allstate out, they were checking me out. Allstate and I were in agreement to keep my file on hold, but revisit a month later.
Allstate went ahead and processed my file including the unsigned documents. Allstate contacted my employer with an unsigned authorization form without permission and I was terminated. (I was unaware of said contact and had to be escorted out of the building)
Allstate did not have a need for an EFS position. Their were none, zero, EA relationships save one non-growth – non-licensed EA w/500 households book within 50 miles. After an Allstate manager acknowledged the errors; Allstate simply did not give a care. It is my opinion Allstate acted wrongfully and I was financially and emotional damaged. In my opinion the least of these wrongful actions are misrepresentation, negligence, and interference with a business relationship. I did not sign the EFS contract because they contain prior contract language which in effect negates previous oral and written statements made by Allstate or their representatives.
I responded to an Allstate recruiters. I was non committal, but they were persistent and offered me the opportunity to audit their training class in Chicago. I accepted. Allstate asked me to complete pre-employment paperwork. I did not complete all of it - the paperwork was ready for my signature. For example I did not sign their EFS contract; I did not sign their authorization to contact my employer. The thought process was if I accepted an offer we would have most paperwork out of the way. I would not commit to an EFS position until EA relationships were established to my satisfaction and various other concerns. The understanding was clear – I was checking Allstate out, they were checking me out. Allstate and I were in agreement to keep my file on hold, but revisit a month later.
Allstate went ahead and processed my file including the unsigned documents. Allstate contacted my employer with an unsigned authorization form without permission and I was terminated. (I was unaware of said contact and had to be escorted out of the building)
Allstate did not have a need for an EFS position. Their were none, zero, EA relationships save one non-growth – non-licensed EA w/500 households book within 50 miles. After an Allstate manager acknowledged the errors; Allstate simply did not give a care. It is my opinion Allstate acted wrongfully and I was financially and emotional damaged. In my opinion the least of these wrongful actions are misrepresentation, negligence, and interference with a business relationship. I did not sign the EFS contract because they contain prior contract language which in effect negates previous oral and written statements made by Allstate or their representatives.
Sounds like inept paper shufflers and poor communication on All-State's end leading to you being fired. Raw deal! How long has that been and what are you doing now?
Hello everyone, I was an EFS for three years. The program is good, but you have to work it everyday. Agents that are into the program are few and far apart. It would be nothing to drive 100 miles a day. Not only do you have to prospect the agents book, but you have to stay in good graces with the agents. Agents dont like EFS's in general. What I mean is they look down on them. The agents are held to a certain amount of protection in the financials go get a bonus. Some feel that the EFS is a free employee for them to tell what to do. On the outside it looks great... EA's sending me business because they have too. Most wont, and others will bash you if you are not cold calling from their office trying to make their goals. Its a giant juggling act. The EFS's that make it are real good at keeping their agents happy, and have a lot of agents to get business from. I was working with 10-15 agents. Lots of arm pulling from each agent. Products are limited to One Life carrier, (LBL), MF's, stocks, bonds, Prudential Annuities, and LTC and DI through Bysis. My fellow EFS at allstate just got an severe increase the commission grid, so they are working twice as hard in a down market to make it. One problem with the program is I couldn't annuitize investment business. So every year was just as hard as the year before. They dont have a fee based AUM for the EFS's.
Interesting that you had 10 to 15 agents and 100 miles between them. Part of my complaint is that I was recruited to work a Hwy corridor which attaches 2 counties. I relied on these representation and wanted the opportunity to confirm the EA relationships so If I decided to change to Allstate I would feel comfortable in my decision. Since I live in the middle there would be approx. 60 miles from one end to the other. Obviously, I would have managed each end on separate days. The problem I encountered is that there are and were no available agents to work with inside this corridor (save the single small agency). The EA's had existing relationships that seem to be working very well for quite some time. Allstate had two scratch agencies, one agency is approx. 20 additional miles away and the other an additional 35 miles away. I did pick those up after the assigned EA gave them up, but they write their own business. (life)
Interesting that you had 10 to 15 agents and 100 miles between them. Part of my complaint is that I was recruited to work a Hwy corridor which attaches 2 counties. I relied on these representation and wanted the opportunity to confirm the EA relationships so If I decided to change to Allstate I would feel comfortable in my decision. Since I live in the middle there would be approx. 60 miles from one end to the other. Obviously, I would have managed each end on separate days. The problem I encountered is that there are and were no available agents to work with inside this corridor (save the single small agency). The EA's had existing relationships that seem to be working very well for quite some time. Allstate had two scratch agencies, one agency is approx. 20 additional miles away and the other an additional 35 miles away. I did pick those up after the assigned EA gave them up, but they write their own business. (life)
You decided to leave. Where did you go?
Well I moved back to my home town, and had a choice to make. The town is only 50,000 people, so I needed a angle that everyone I come in contact with could be a potential client, and I wanted to have a easy conversation to get them engaged. I decided to open up my own indy p&c agency. I am appointed with everyone product allstate gave me on the financial and more. So I basiclly have taken their model, get the P&C and attack the financials, but I removed the EA from the picture. I figure I will lead with P&C (everyone needs it) and then it sets the pace for life, managed money, DI, health LTC etc. One thing I found out with Allstate is the cross sell ratios were very low. The agencies that did the best were the ones that took an interest in the financials. Only problem, their are not that many that are interested or experienced enough to make that transition. So instead of spinning my wheels with agents that didnt care about engaging their clients, I will own both sides of the business. Wish me good luck.
Beware of Scratch agencies.... They are good for the first couple weeks as you sell them products to make their goals... then that go into shock when they figure out what it takes to make the Allstate goals. You will get lots of bad leads, and wasted time.
EFS and EA relationships change very fast... so be in good graces with management, and ask your current EA relationships if they have fellow EA's in need for a good EFS. That how I did it... Management gave me 3 EA's when I got there, and one was a scratch. I would go all over town trying to meet as many as I could. Before I knew it, I was up to 10-15(depending on management pushing them for Financial business).
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Quote:
Originally Posted by mrh
Warning! If you are considering an Allstate Financial Services EFS position. Run away - do not look back . Do not complete pre-employment information. Do not sign any documents.
Mrh
I believe you are or were an EFS... whats your experience with them? From the above comment probably not good, but give us the juice details.
Last edited by gstker : 10-29-2008 at 03:54 AM.
Reason: Automerged Doublepost
I personally know MRH and this is unfortunate but true. The issue is the management focus's on recruiting not results. They need the bodies for thier own selfish reasons and really do not have a interest in your success. Once you are on board they feed you to the wolves.
I am an EFS and have had some success with the program. You must prospect and you must kiss a lot of EA rear end. The bar is super high. I have been a Court of the table producer for 7 years and life MDRT and I get treated like low man on the pole sometimes.
There is no infastrucutre to support the EFS. only the EA
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