Please Help, I Need Some Good Advice

[Whirleybird]

Thanks everyone. I'm currently leaning in a direction that avoids ALL MLM type organizations. I still have an opportunity to pursue a new Farmer's agency but what I am leaning towards are the financial sales opportunities.

Does anyone have any thoughts or direct knowledge of working for Prudential, AXA, New York Life or Horace Mann??

I would really appreciate the input.

New York Life has an amazing training program. They still pay better than fo New York Life has an amazing training program. The pay structure is confusing, and underwhelming. But you'll get about 750 hours of training in your first year. And the second you're done with training, There are a lot of companies that pay much better. I literally there are a lot of companies that pay much better. I literally left last month, but if you go there for northwestern mutual you are looking at exceptional training and management riding your back like a starving baby gibbon. But at the same time a lot of people make a career out of it there, and some do very very well. But they follow the mantra for sure.

Hiring masses, train them in classes, sell all their friends and then fire their asses. Awa hiring masses, train them in classes, sell all their friends and then fire their asses. Or wait for them to quit. That being said you can get a lot of great training from the guys on this forum as well. Especially DHK. That dude is a rockstar.

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That was a carrier mistake just as much as an agent mistake. I realize you are or were with NYL, but a premium number that big should have generated a phone call to confirm.

As to your statement about P&C agents, you would be surprised how many barely do life. They can be a great referral source for a life agent. But they are scared you will screw up their account. Either by trying to poach them away or by upsetting them if the life insurance goes sideways. Address those issues and you could have a constant supply of prospects.

Every single time I've tried this, the property casualty agent eventually gets a life license and tries to bring them away from me. It hasn't worked yet, it's still a pain though.

 

[VolAgent]

Every single time I've tried this, the property casualty agent eventually gets a life license and tries to bring them away from me. It hasn't worked yet, it's still a pain though.

Never said it would be easy...

You want to find the guy who already has the license, but really isn't using it.

 

[Whirleybird]

Never said it would be easy...

You want to find the guy who already has the license, but really isn't using it.

I haven't given up yet either! I have better luck with CPA's for sure though.

 

[practicalguy]

Update:

Today's Interviews AXA and Prudential Financial

Wednesday Interview New York Life

Thursday Interview Horace Mann

Friday Interview MassMutual


Any additional input would be sincerely appreciated. I am in the Pittsburgh area, if that makes a difference.

 

[DHK]

The things you should be asking about are training and agent costs.

http://www.insurance-forums.net/forum/life-insurance-forum/nylife-vs-prudential-t78712.html

You should be interviewing THEM more than they interview YOU. Remember that YOU are the one taking on the risk of representing them and putting their "training" to work in a commission-only environment.


These blog posts are based in Singapore, but still apply directly to the financial services business in the US:
Interview Part 1 - Job Getting or Job Giving?

Interview Part 2 - Myths and Truths about the Financial Advisor's Career

Interview Part 3 - Guide to Interview the Interviewer

 

[Norwayguy]

I am always here to help new insurance agents.

I thought you were a programmer, have you ever been an agent or have you had your license revoked?

 

[ltcadviser]

Update:

Today's Interviews AXA and Prudential Financial

Wednesday Interview New York Life

Thursday Interview Horace Mann

Friday Interview MassMutual


Any additional input would be sincerely appreciated. I am in the Pittsburgh area, if that makes a difference.

Well, Bridgeville, Brookline, Cecil and Carrick are different than Lebo, St. Clair, Fox Chapel, Squirrel Hill and Sewickley. So, certain insurance companies may be a better fit or necessary in certain Pgh areas.

 

[topinsur]

Please help with one question. Well-known fact that agents get licenses just for one state usually. But I wish to set up a new agency which should cover almost all states. The new agency is planning to process customers countrywide that is why i'm asking. What is it possible to do to cover 90% of states?

 

[insuredubv1220]

I am brand new to this forum, in fact this is my 1st post. I am a 56 year old "career changer". Have been either self-employed or engaged in outside sales for most of my life. I most recently spent 8 years in the very volatile Oil & Gas industry until I was laid off in February. Am considering my options and trying to make an informed decision. Possible opportunities are 1.) New Agency Owner with Farmers Insurance, 2.) Agent Intern position at American National Insurance, 3.) Financial/Insurance Adviser at Prudential, 4.) Independent Agent working for a broker emphasizing Final Expense and other Life Insurance products and 5.) Franchise opportunity at Goosehead Insurance. I am located in SW PA near Pittsburgh and I am just weighing my options. I would very sincerely appreciate your input/feedback and thank you in advance for your responses.

I'm also brand new to the this forum and in a similar situation (but I'm only 40 lol), and would be interested where you end up. I've been captive with AIG for over 15 years and am now independent (with an FMO that does mediare and life) Interested however, cause I'm just south of you in Morgantown, WV and may explore some options up near Pitt.

 

[BADTROUT]

I almost always weigh in, in favor of the independent channel, HOWEVER... Sometimes the mentoring is lacking that rout. Most captive channels offer great proprietary, and ok general knowledge to noob's just starting out in the business. There are far more wrong directions you can turn than positive in your first gig, so no matter where you end up going as a new person, its fairly common to see people end up elsewhere.

Take anything you approach as a training opportunity, look at the exit limitations and opportunities with each... because at the end of the day that matters FAR more than the up front numbers.

Everything you read here is based on opinion, and these are just my opinions... but either way, its a great career if you work your tail off and learn as much as you can, as fast as you can.

The one thing common amongst most current and former Farmers agents I know, is that they wish they had started out elsewhere, could get out, or wished they never got into insurance... It's a bloody shame to see good talent learn the hard way, but then again, maybe you'll never appreciate where you end up unless you suck a lemon on your first gig.

Final Answer... Anything but door #1