New England Financial (NEF)

Dec 12, 2007

  1. Krono
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    Krono Super Genius

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    Anyone know much about these guys...good bad or indifferent? They are owned by Met Life. I am interviewing with them right now and would appreciate some input!
     
    Krono, Dec 12, 2007
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  2. SME
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    I worked for a broker that was with NEF and they seemed okay. There was some trouble with the GA not moving swiftly (it took 9 months to issue a policy once because an employee in thier office mishandled the application) But the managers did alot of training and support. Thier group products are good.
     
    SME, Dec 12, 2007
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  3. Krono
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    Thanks...what kind of questions do I need to be asking?
     
    Krono, Dec 12, 2007
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  4. MIBizInsurance
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    How long has potential manager been with co?

    How long in a production position? Have they been in the trench's so to say.

    General history of manager or managers?

    How many of current agents did he/she hire? Are they performing to task?

    Average tenure of those agents and agents in general?

    What's managers stance/expectations on training, propecting and producing?

    Do you have to sell before hire date?

    Expense's? Ask for details.

    Do they require a "warm market" list?
    If so be clear that you want to be trained on prospecting and not just tear through your friends and family. Bet they are heavy into proprietary products. This means it would be a real bear to get those friends/family memebers out of the product with out hefty fee's and penalties.


    Personaly I'd start with Raymond James, Merrill Lynch, Smith BARNEY, AG Edwards or the like. Above companies will offer a salary, not a draw and very solid training.

    Ask questions. Your interviewing them as much as they are you.

    Good luck.
     
    Last edited: Dec 12, 2007
  5. CHUMPS FROM OXFORD
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    Good products. Complete access to MetLife's portfolio. Good lead program.
     
  6. MIBizInsurance
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    How does NEF brand its self?

    Whats the niche?

    Understand they are a off shoot of Met but what makes em different?

    Offer products from different companies?

    More indy minded then Met?

    My thinking is if they are just the little brother of Met then interview directly with Met. At very least you will have name branding on your side.


    Again good luck and ask questions.
     
  7. arnguy
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    In my early years in the insurance business New England Life was one the first companies I contracted with as a captive agent. An old, established insurance company that had a good reputation. Their business was geared to the upper middle classes and offered excellent white collar professional DI products. They also had great annuities. The company was founded in 1835 so they are not a new kid on the block. I am not certain when they merged with Met Life----I think it was in 1996, so I would not call them an offshoot of Met Life. BTW, Met Life was founded in 1868, 33 years after New England Life.
     
    arnguy, Dec 13, 2007
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  8. MIBizInsurance
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    I interviewed with Met some time ago and would not touch that company. Won't even go into thier tactics. Perhaps it was the office here in MI but a waste of time. Was a learning exp thoe.

    NEF is marginal player at best in the financial market. Again I personaly would go with a FINANCIAL company if I wanted to work as a FA. If you want to sell insurance and dabble in financial advising then go Met or NYL.

    Much of your goals will be based on insurance sales not financial products.

    Go and speak to a couple indy advisors and ask them what they think.
     
  9. Krono
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    I must pay for and pass my 6 & 63 before they will officially bring me aboard. They will reimburse the cost once I pass the test and submit my first piece of biz. There can be a stipend involved, but it is not much.

    They are owned my Met, but they are an independant broker dealer. I would be able to offer any 'brand'. They also have their own Group Health Insurance plan called '1st Health', but you can also sell Aetna, BC, Humana...whatever the customer wants. They also offer their clients:

    Life
    Annuities
    Mutual Funds
    LTC
    Disability
    Employee Benefits
    Financial Planning
    Banking Services through MetLife Bank
    Investment Products
    P&C
    Critical Illness

    The office was very nice and the people exceptionally friendly. I was there for 2 hours yesterday and 4 hours today, and they all work very well with one another. They offer tons of training, mentoring and access to an in house marketing person to help with prospecting and setting goals.

    Thoughts?
     
    Krono, Dec 13, 2007
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  10. Krono
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    I too interviewed with Metlife and didn't care for it. NEF was completely different...
     
    Krono, Dec 13, 2007
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