NYL, NML or PRU - new to industry

[prop312]

Newbie here

Been trolling around in the forums for awhile. Trying to learn basics of insurance industry - I am coming from a financial background (buy side) and I have 3 offers. I have a medium sized network of professional individuals and a handful or large business owners. Most in their mid 30s to mid 40s.

NYL - Top 5 office in america each of the last 3 years - very intense culture and male dominant. Seems like these guys are printing money here, or at least the top guys are.

NML - Suburban North Shore office that is slowly moving towards lots of wealth management. The managing partner here is more a money manager than insurance salesman. Seems like the culture of NML in this particular office is more about finance than insurance - could also be BS.

Prudential - Seems like a gunslingers paradise. Attraction here is there seems to be the least amount of structure.

If anyone could speak to each firms positives and negatives - especially if they are in or around the Chicago area.


Thanks in advance.

 

[DHK]

Of the three you mentioned, I would pick Prudential for one reason: they have variable annuities with lifetime income benefit riders. Yes, you'd need your series 6 & 63 to sell them, but most other mutual insurance companies don't focus on that market (from what I've seen). Also, it's *possible* that you can still work with your clients after you leave because you can broker Prudential's products.

I've heard good things about New York Life's online video training, but I haven't seen it. It's supposed to be a very good resource.

Can't tell you much about Northwestern Mutual, except that you can probably expect it to be a structured environment as Al Granum's One Card System was created with them in the Chicago office.

The Legacy of Al Granum | The American College Northwestern Mutual Granum Center for Financial Security

However, all of that is just mechanics. I'd go for the agency culture and training as the true differentiating factors.

 

[InsuranceIsLife]

Out of those 3, Prudential hands down. They have the most aggressive/lenient underwriting pretty much in the whole industry, not to mention one of the best annuities on the market as DHK stated. NWM & NYL are much tougher on underwriting and Pru's products are generally priced more favorably

 

[prop312]

Thanks for the advice guys. I chose prudential based on product offerings and my direct manager. He was very open and honest about attrition, training and office culture; also was the most technologically adept and seemed to push for use of tech to capture and maintain clients. I will post periodically about my experience.