ca-ltc-agent
Expert
- 30
Meet with them yesterday, and I liked the pitch. The commission is low, but would be worth it for the 6-10 leads a week, if they are worth anything. They said a 20-30% closing ratio.... ?
The problem I have is the 2% residual. I don't mind a shave on the fyc for the leads, but that is pretty steep for years 2 on.
2nd meeting today, so will see what happens. I really don't think this is where I want to go, but will give them another chance.
By the way, they want you to pay for background checks and contracting. $287. or so. OKAY, THIS REALLY BOTHERED ME!
The problem I have is the 2% residual. I don't mind a shave on the fyc for the leads, but that is pretty steep for years 2 on.
2nd meeting today, so will see what happens. I really don't think this is where I want to go, but will give them another chance.
By the way, they want you to pay for background checks and contracting. $287. or so. OKAY, THIS REALLY BOTHERED ME!
I recently attended an "interview" with them (Federal Fiinancial Group), which turned out to be a group recruiting meeting. Jeffry Bird, the recruiter who flew in from Utah, was the recruiter. The (sales presentation) meeting/interview? lasted about 3 hours.
You would work with them as an independent agent. You start out part-time and/or work into full-time. You start at 40% commission and work up to 53% (if you perform correctly). They pay you a whopping 2% residual commission. And they charge you 1-2% of your commission to process your paperwork! They start you out with "B leads" until you prove yourself. They set the appointments for you. I don't know if they set both the "A" and "B" appointments. They also expect you to get your own referrals for your own appointments, but, they don't pay you any more for any appointments/contacts/referrals, etc. that you make on your own. So, if you talk to your friends, family, etc. and make a sale with them all on your own, you get paid nothing more! FFG pays you less because they give you lead appointments. They should pay you more for those you acquire on your own, I think.
Your first meeting after coming on board is an orientation meeting lasting about 3 hours.
You will be required to MEMORIZE, verbatim, 8+ pages of script, and video-tape yourself doing it (flawlessly?) BEFORE you will be permitted to sell. You will not be allowed to sell until you pass this memorization captured on video, for them to scrutinize. (You'll also be required to memorize a whole new script (I don't know the length or extent of this script) for coming back to do your closing sale, which takes about 2 hrs.) Yes, this is a 2-step sales call. Your first one is where you spew out 8 pages of memorized jargon, and gather important information from the person. Then if they are interested, you'll follow up with your closing/sell appointment.
You will need to participate in 16 "ride-alongs" with one of their existing agents, before you start working. 8 of these are for presentation observation and 8 are for watching YOU do 8 presentations. You'll be required to attend weekly meetings, which blows a work-day!, especially when you have to travel to one of their main "manager locations", which could be hours from your home.
At the end of the initial group interview, you are given an application to fill out (just the numerous items which the recruiter tells you to circle). Just prior to being given this application, he asks you to raise your hand according to a 1 -10 scale of how serious or interested you are in doing this business. My impression is that you would have to be illiterate or really off-the-map not to pass the recruiter's approval. I think it's part of the sales presentation gimmick to make it look like they may not want you, when they really want as many agents as they can get.
After all this fluff and having shown us all previously the huge amounts of money we can make and how easy it is to do this ("just show up" nonsense), they drop of a bit of a "bombshell" at the last minute with your application paperwork. Please pull out your ATM or credit card or whatever, and pay us $287. to give you the priviledge of allowing you to work for us. What? Yes, only they call it a "New Agent Processing Fee"! My guess is that it goes into the recruiter's pocket like with so many MLM fees. And it's basically non-refundable. (They say you'll get this money back AFTER you write $30,000. in Target Premium.) So you better be serious about doing this. I strongly suggest that you take a breath, go home, and think this over BEFORE you commit on the spot AND give them your voided check, License and E & O coverage, AND $287!
I hope this helps you in deciding whether to work with this company.
My personal experience with every business that has required me to PAY for some "process", up-front, has been a bad experience.
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RUN AWAY, it sounds like bs. they want to pay you squat, and charge you $287. also charge you another 2 pts for doing paperwork. all the post that said they were wonderful, were 1 or 2 post wonders....who have not been on the board again... just my opinion...
- Thread starter
- #17
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I started this thread 4.5 YEARS ago. FFG is still recruiting heavily in my area, advertising on Craigs, and even doing cold-calling to agents. I don't know anyone who works with them, but some of the stuff I've read on the internet was not all that flattering.
When you go to the meeting with them remember what President Reagan said when talking to the Russians, "Trust... but verify!"
When you go to the meeting with them remember what President Reagan said when talking to the Russians, "Trust... but verify!"
I went on a sales call with one of their sales managers/agents. The presentation is memorized and at the end they give them a scratch card as promised by the telemarketer. The client we spoke to won a free 3 day cruise. I just about busted up. I'm guessing all scratch cards are winners.
To get the appointment are they telling these leads they might win a trip?
- 215
I did a brief stint with these guys. I'm sure its like any other organization, some bad, some good. Their sales pitch for recruiting was loaded with fluff, for sure, but I know people that are doing very well there (higher up the chain, though). Their main pitch is Aviva's EIUL to business owners as a retirement vehicle.
I wasnt comfortable with the pitch, and I imagine half the people memorizing their script really understand the product they are selling. They've got a system that works, though and for some thats OK. Any time anyone recruits that strongly its because turnover is high, so all this "easy money" stuff is total BS. The leads arent as good as they claim and its like the rest of the LI business- you gotta work and you gotta prospect.
My experience with the group here in Atlanta was that, while I wasnt comfortable with the pitch- both what they said to new recruits and to clients, the people I came into contact with were ethical and good people for the most part. I know thats contradicting, but that's what I got from the few meetings I went to. Its not a scam or anything.
I actually called AVIVA to verify some of their "We're the #1 producer for Aviva" claims and such, and while they didnt go that far, they did say they wrote a HELL of a lot of business through them.
Anyway, just my $.02. You can make money with them, I just didnt like the idea of showing illusions for investment returns on the EIUL as more or less what people could expect. In their defense, the projections weren't as bad as some I've seen.
I wasnt comfortable with the pitch, and I imagine half the people memorizing their script really understand the product they are selling. They've got a system that works, though and for some thats OK. Any time anyone recruits that strongly its because turnover is high, so all this "easy money" stuff is total BS. The leads arent as good as they claim and its like the rest of the LI business- you gotta work and you gotta prospect.
My experience with the group here in Atlanta was that, while I wasnt comfortable with the pitch- both what they said to new recruits and to clients, the people I came into contact with were ethical and good people for the most part. I know thats contradicting, but that's what I got from the few meetings I went to. Its not a scam or anything.
I actually called AVIVA to verify some of their "We're the #1 producer for Aviva" claims and such, and while they didnt go that far, they did say they wrote a HELL of a lot of business through them.
Anyway, just my $.02. You can make money with them, I just didnt like the idea of showing illusions for investment returns on the EIUL as more or less what people could expect. In their defense, the projections weren't as bad as some I've seen.
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