Career Decisions... Northwestern, NYL or ...

[Cenla Agent]

When I started with Prudential it was a project 500 LOL.

I am pretty sure I've seen a Project 200 or 250 as well.

By the way I don't think those methods are necessarily bad. If an agent is looking to do business the old school way (face to face) it's important to have an idea of who your natural market is, even if it's just letting them know you're in the business and possibly getting some referrals if they already have a good agent, etc. But in many cases managers with captive companies will bring people in who will write their friends and family, and then not knowing how to really prospect (or lacking the desire to do so) they wash out quickly, and the manager has himself several dozen more clients.

 

[ozmo]

Now my eyes are open--and my head spinning. Sounds like Cenla may have done both, catures life vs independent and I appreciate all comments. I worked before as independent mortgage originator and like that independence, so that might say something.
what was driving me to the captive life side (NWM or NYL) was teh strength of the companies, the building of residual income and the possibility to branch into different arenas. am I overestimating the strength of these companies and how they are percieved by the public. I know this is primarily a site for independents so you may be bias....but do you see the independent route the best way to go to:

1. serve clients
2. make money
3. build residual (long term) income stream

thanks again,

OZMO

 

[LGilmore]

I think your decision will be based on the market you want to be in. The reason you cite for the captive side is correct, to the right market. There are people out there that those names matter to. They will fit a certain demographic. They understand the label.

To others, it's going to be price and price only that matters. To many, it will be what ever you're selling.

It's going to depend on the market you want to be in or naturally fit. There isn't a correct answer here, just yours. I've been captured and I am currently independent. Both sides have real strenghts and weakness to them.

While captive I loved the strength of the company, but hated captivity (being managed). Being independent, I love the freedom, but longed for the company strength behind the products I sell.

I have been able to find companies as strong now as when I was captive so I feel better product wise. I don't miss the yoke of management in my life.

 

[patch36]

but do you see the independent route the best way to go to:

1. serve clients
2. make money
3. build residual (long term) income stream

thanks again,

OZMO

1. Absolutely. No way are you serving the best interest of all your clients with just one company. I am sure there are those who will disagree, but one size does not fit all when it comes to clients and products.

2. Much more money independent. Higher pct commissions, not as much MLM and splits, and...

3. Residuals? No difference except you are not as vulnerable to a captive company and management, and you are going to get a higher pct of your commissions as an independent.

But, I am biased.

 

[Cenla Agent]

Now my eyes are open--and my head spinning. Sounds like Cenla may have done both, catures life vs independent and I appreciate all comments. I worked before as independent mortgage originator and like that independence, so that might say something.
what was driving me to the captive life side (NWM or NYL) was teh strength of the companies, the building of residual income and the possibility to branch into different arenas. am I overestimating the strength of these companies and how they are percieved by the public. I know this is primarily a site for independents so you may be bias....but do you see the independent route the best way to go to:

1. serve clients
2. make money
3. build residual (long term) income stream

thanks again,

OZMO

I haven't worked for either company, but have interviewed with both several times over the past several years. (I have been a captive agent, but it was with Humana, selling Medicare products.) As was mentioned earlier, both companies you are considering are very strong and are viewed favorably by the public, especially with higher net worth clients. There are other companies that may be better for marketing to more middle income folks. But how it works for you will probably have a lot to do with your mentor, the quality of the management and things like that. With captive companies like these, you will have to be there for several years before your commissions "vest" whereas as an independent you could be vested immediately. If you can get a good mentor at one of these companies, you'll get a lot better training than you typically would be able to get as an independent. I would think that most independent agents started out as a captive somewhere unless perhaps they were mentored by another indy agent.

 

[ozmo]

Mentoring for independent agents...that might make some sense here. I see some "trainers" on this site, but would anybody have a suggestion on how best to find a mentor. I would think I would want to find someone local to me in SOCAL and not necessarily someone who has a career focus on mentoring, but rather is in the trenches with real day to day experience--or is that impossible to find?

 

[hlink20]

stay where I am at.
I am pretty deep in the interview/recruiting process with both Northwestern and NYL and trying to make final decison. The other alternative is to stick with Healthmarkets, my currrent company and just sell health?
One of big questions is what is the market for life and financial services right now (if I am crazy I need to know--so far no one has said I am) or am I better to stay in health alone. I am in SOCAL if that matters. I have only been licensed for about 5 month, but i am not young, I need to build a career with good short and long term income as well as provide for some form of retirement in 12 -15 years.
What are your thoughts or suggestions. I have given you alot to comment on and can take the hits if need be--so give it to me straight.
Thanks in advance for your help

You are wise to keep all of your options open. If you stay independent and offer multiple lines of coverage, you will be able to offer a broader array of coverages to your clients. However, the only downside is not having the mentor-ship that a single carrier could offer. I suggest partnering with a firm that not only offers products, but strong training as well. Good luck.

 

[gzpxyj]

Mentoring for independent agents...that might make some sense here. I see some "trainers" on this site, but would anybody have a suggestion on how best to find a mentor. I would think I would want to find someone local to me in SOCAL and not necessarily someone who has a career focus on mentoring, but rather is in the trenches with real day to day experience--or is that impossible to find?

You almost have to network with folks in your area to find a mentor. Find any agency in your area and talk to them to see if it is possible. Also attending some field training with some agents and find a mentor remotely is possible too. You have to determined to win. This job is not easy but once set go, it will bring you good results.

 

[HealthGuy]

You want to become and eliteist sign up with NWML and drink their green koolaid and sell increasing premium term on top of whole life. Their mentors will show you how to stick it to your clients and underinsure them with whole life and increasing premium term on top of that to pretty it up. Sign up with NYL and sell to the common man and starve to death. Either option sucks. Stay independent and start selling health with all the carriers and you will cross sell more life insurance than you would have with either NWML or NYL and do it ethically with top life companies that aren't overpriced.

 

[Bitnis]

So what is the difference between being independent and working with a company like Mass Mutual on their career plan?

It seems like this would be the best of both worlds where you could lead with health and have a brand name behind you for your other products. No?