Investment Products Versus PnC

[oicu812nbama]

Hey all! I need an opinion. Ive been in the insurance biz for three years and am in the management role already. Hate it!
I have one friend suggesting owning an allstate agency and one suggesting lynch or edward jones. Anyone's opinion who is seasoned and successful would help. Thanks

 

[djs]

Decide what YOU want to do and go do it. If you hate the insurance biz, I'd look elsewhere.

It's hard to give meaningful advice without knowing what makes you tick, what your passion is.


Dan

 

[gzpxyj]

Hey all! I need an opinion. Ive been in the insurance biz for three years and am in the management role already. Hate it!
I have one friend suggesting owning an allstate agency and one suggesting lynch or edward jones. Anyone's opinion who is seasoned and successful would help. Thanks

How does owning an agency helps you if you hate the management part of the business?
Owning an agency is management job! There are so many things you have to do, mentoring new agents, plan for promotion, advertizing, networking etc. If you hate the management role, don't own an agency. Be a good producer.

 

[oicu812nbama]

I had a feeling that someone would pick that apart without really giving me advice on my question.
I like insurance and selling insurance and financial products. I do not like hiring, training, firing, etc. Having a PnC agency with a couple agents is alot different than have 35 agents to supervise.
Now has anyone got any advice on pros and cons of PnC versus investment office?

 

[gzpxyj]

Small PnC is easier in some way to manage than the investment office if you are talking about hiring, firing, training. I think you are not thinking of opening your own brokerage firm, so investment office is belong to other brokerage firm and you are working for them. So having your own PnC and attaching your security to another brokerage firm give you great flexibility. That is what I am doing. I have my own life insurance agency and having my security attached to other brokerage firm.

 

[oicu812nbama]

Small PnC is easier in some way to manage than the investment office if you are talking about hiring, firing, training. I think you are not thinking of opening your own brokerage firm, so investment office is belong to other brokerage firm and you are working for them. So having your own PnC and attaching your security to another brokerage firm give you great flexibility. That is what I am doing. I have my own life insurance agency and having my security attached to other brokerage firm.

Thanks for the reply. I'm trying to decide if PnC is worth the time. The renewals are sweet, but the headaches are many. Im not sure about the renewals for investments other than life and annuities. I don't have my securities license; I'm just speculating.

 

[insuranceexec]

Thanks for the reply. I'm trying to decide if PnC is worth the time. The renewals are sweet, but the headaches are many. Im not sure about the renewals for investments other than life and annuities. I don't have my securities license; I'm just speculating.

To get your securities license you will have to be sponsored by a Broker Dealer.

 

[oicu812nbama]

Thanks. I may skip the investment part doesn't seem like the commissions are comparable to the work put in.

 

[gzpxyj]

Thanks. I may skip the investment part doesn't seem like the commissions are comparable to the work put in.

Investment can make you very good money if you are a registered investment advisor. The fee generally will be 1% for the asset under management and when your asset under management grows, your pay grows. The commission for Investment is not bad at all if that is what you are looking at. With 3 percent plus upfront, and 0.5 to 1% trail. Definitely good deal. The only thing is that you have to learn all those products and regulations. It is expensive to maintain your license with E&O if you are an occassionaly security producer.

 

[insuranceexec]

Investment can make you very good money if you are a registered investment advisor. The fee generally will be 1% for the asset under management and when your asset under management grows, your pay grows. The commission for Investment is not bad at all if that is what you are looking at. With 3 percent plus upfront, and 0.5 to 1% trail. Definitely good deal. The only thing is that you have to learn all those products and regulations. It is expensive to maintain your license with E&O if you are an occassionaly security producer.

I could not agree more. Investments are like P&C; they take a while to amount to anything. Stick with insurance and grow into the investment business. I hope this helps......