Interview W/ NYL Parter in a Few Hours. Any Advice is Appreciated.

Yeah, check out this thread of an agent leaving them and going independent

Thank you for the response. Definitely feeling the professionalism on that thread.

I can see in the thread "5" that he went independent! that's great, also that OP realized he got bad advice from NYL and started fixing those bad habits.

I'm new, so I don't think I can be nitpicky about it at this point - but I'm more than willing to follow your advice and become independent once I learn the ropes of this industry

Ironically, this "partner" on the phone tried to tell me that if I can work hard, he can put me on management lol typical upper management pitch

Also, he insulted me by saying that "I sounded young over the phone" hahaha I can't control my age, what did he expect xD

It's weird b/c he sent me a picture of his business card, as if I didn't believe him even though I said I'll come for the interview today
 
The ole "Management Trap"....no thanks!

I've never known someone to stay at NYL, they've always left to go independent or to go to another captive outfit like Mass. It seems no matter if you go Mass, NYL, or NWL, they all want you to get series licensed..
 
Series license? Like a broker?

Whoa, is there a reason why they usually want you to do that?

I apologize if that's a newbie question.

In the meantime, I've been reading this ;) seems like it's the only way to go

www (dot) insurance-forums.net/forum/getting-started-selling-insurance/guidance-new-life-agents-t29999 (dot) html
 
Yep, that's DHK's thread that he started - it's a foundational one. Not sure why captives usually are told to get licensed training, either a combination of:
1. DOL ruling
2. To sell shitty mutual funds and variable annuities
3. To let people know that the producer is more of a "planner" than an "agent"


These are the top 8 life and annuity guys on the forums. I would shadow their posts religiously. If Whirleybird keeps it up he'll be number 9...
 
Yes, there is a reason that they want you to get securities licensing. A few actually.

1) It allows you to "manage the entire client relationship" and not just their life insurance. (This helps to preserve the sales you make, rather than having your clients "fall prey" to ignorant advice about life insurance.)
2) You can "make more money".
3) They can control you more.

Here's my take on it all: If you know how to sell life insurance and everything else you can sell with a life, accident & sickness license, you don't need securities licensing to make a living and/or to keep other advisors away from your sales. As far as sales "falling prey" to ignorant advice, you need to do a written plan with supporting documentation to help keep your sales on the books. This is to help clients remember WHY they bought what they bought, not that they just "bought life insurance".

Remember that life insurance is a SOLUTION to a PROBLEM... and that's one reason why it pays far more than just "money management".
 

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The biggest reason they want their agents to get a securities license is so they can approach clients as a "Financial Planner" aka investment adviser.......in order to open up the door to distribute life product.
 
Take the training and get the hell out once your allowance drops from 80% to 43%. Spend as much time as possible with Chairmans and Presidents council agents; and your MP getting every ounce of knowledge you can. And don't get close with ANY new org agents. They'll usually be gone within 6-8 weeks of getting a contract approved. Call your internals as often as possible to MEMORIZE their talking points. And be prepared for about 700 hours in training classes this first year. And keep writing apps because about 40% will be declined.

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The biggest reason they want their agents to get a securities license is so they can approach clients as a "Financial Planner" aka investment adviser.......in order to open up the door to distribute life product.

The biggest reason they want agents to get securities licenses is because most agents make around 40% of their income on variable annuities. I wrote a 225/mo policy on a client who wanted retirement advice as well, agent who helped me on the case got a 450,000 rollover. I had my 6/63 3 weeks later.
 
Take the training and get the hell out once your allowance drops from 80% to 43%. Spend as much time as possible with Chairmans and Presidents council agents; and your MP getting every ounce of knowledge you can. And don't get close with ANY new org agents. They'll usually be gone within 6-8 weeks of getting a contract approved. Call your internals as often as possible to MEMORIZE their talking points. And be prepared for about 700 hours in training classes this first year. And keep writing apps because about 40% will be declined.


You know what's hilarious? the only reason I was contacted is because I speak English, Korean, and Spanish - he was literally gleaming all over the fact that I had fluency in Korean and English and Proficiency in Spanish(I've sold cellphones in Spanish at my previous job)

the 80% is also a lie - I was able to convince him to talk to me about the compensation plan, and yet the 80% is for the first but the "residual" income is capped at a certain level during the first year.

It's really good for the training aspect of it, and I suppose to each on their own.

He also expected you to close "two" sales each week - total of 100 per year, and was showing that "you can make $89k" lol and he expected you to meet "3 new people" every day even during training.

lmao, yea sure i'll slave myself away for free during training /sarcasm

He basically complained that he had other two people in their mid 20's, just like myself, quit b/c they were "lazy" and didn't make the appointments.

Or maybe they left for better opportunities, like you guys have :)
 
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