New England Financial (NEF)

[CHUMPS FROM OXFORD]

I think the key seems to be the local management and training. FYI...MetLife reps are able to write business with virtually every company (life and health), not to mention a myriad of different investment companies with no affiliation to MetLife.

Commish is reduced since it is written through the GA (General Agency).

And by the way..."Much of your goals will be based on insurance sales not financial products."

Maybe that's the way it is in some offices, but not the ones I'm familiar with. They would actually prefer financial products over life insurance.

It won't be easy to stay with Met or NE. But you'll get good training which will prepare you for your next destination.

 

[HomeService]

I interviewed with them and really liked them {nef} and they liked me, or so they were saying, but something made me not do it, can't really say exactly what it was, just had a feeling I did not want to- right now. Just had a gut feeling.

 

[Krono]

I interviewed with them and really liked them {nef} and they liked me, or so they were saying, but something made me not do it, can't really say exactly what it was, just had a feeling I did not want to- right now. Just had a gut feeling.

Which office did you talk to?

 

[Krono]

More info:

There are two contracts to sign. A GA contract and an Agent GDC Contract (Managing Partner Appointment Page).

Under the GDC contract, there is this a "Restrictive Covenant":

"For a period of two years after termination of the Contract, the Agent shall not, directly or indirectly, advise, induce or assist any policyholders or contractholders of the Company or its affiliates in the state or states in which the Agent is or has been licensed to sell and has sold Products, or policyholders or contractholders of the Company or its affiliates owning Products for which the Agent is agent of record, to lapse, cancel, fail to renew or replace any Product. For a period of one hundred eighty (180) days after termination of the Contract the Agent shall not contract with, nor directly or indirectly, contact any agent or employee of the Company for the purpose of inducing, or attempting to induce, such agent or employee to terminate his or her contract or employment with the Company. If the 180 day or two year periods referred to herein shall be deemed unenfroceable at law, then such periods shall be reduced to such periods as shall be legally enforceable".

"The Managing Partner and the Company may pursue all remedies, including injunction, to assure compliance with the covenants in this Section and shall, if successful, be entitled to recover from the Agent all costs and expenses incurred in pursuing such remedies, including reasonable attorney's fees."

Is this normal when you go to work for someone as a W2 employee? Is this a biggie?

 

[HomeService]

krono, I am in Austin. The Austin office was great, I really liked them, and I may still keep them in mind if I need to keep this as an alternative. I thought they were great, just not for me right now. I cannot explain fully why, just not right now. I liked them, though.

 

[CHUMPS FROM OXFORD]

Krono...That is called a non-compete clause. Fairly standard with captive companies.

 

[Krono]

Krono...That is called a non-compete clause. Fairly standard with captive companies.

Thanks Chumps...yeah, I know it's called a non-compete, I was really intersted to see if that was common in a captive situation...which you thankfully answered.

Now that weve determined that a non-compete is standard, is the non-compete I posted standard in it's content?

Thanks again.

 

[CHUMPS FROM OXFORD]

Good question. I'm only familiar with one...not many.

 

[Krono]

Good question. I'm only familiar with one...not many.

And the one you are familiar with?

 

[MIBizInsurance]

That is a standard pre-nup.