Picking the Right Company to Work For?

[lawrence260]

I have about 1 years experience in selling Medicare Supps, and now want to join a larger firm, where I can venture in more financial products. I have been meeting with a few companies. Mass Mutual agency, or MetLife agency. I would be starting on my series 7 and 63. From selling life, does one even have an advantage over the other, since in the end this is a relationship business. Both companies obviously put on a good pitch as expected, but I was looking for unbiased advice. Does one being a mutual company really have an advantage?

 

[Franz Kafka]

I have about 1 years experience in selling Medicare Supps, and now want to join a larger firm, where I can venture in more financial products.

Why can't you venture in more financial products independently?

 

[DRJCBPA]

I'm going to give a simple answer and I'm sure others will weigh in. The caveat is I have been out of the business for 15 years and now have entered again. There are huge differences in companies, training, compensation, and product. If I were choosing to go as a captive agent and desired the most flexibility with product I would carefully choose between NML, Mass Mutual and Guardian. All are mutual companies and all, in my opinion are top notch. I've received good advice from other members most recently and it has helped me with my decision. If you truly want to offer a plethora of product from a planning perspective most likely Mass Mutual and Guardian are the tops. As another member wisely said, "Choose the GA, and the company." In other words, the General Agent in the company office will have a huge impact on your success-- as will the dynamics of the office. I spent 15 years with one of the three I mentioned and was fortunate to have 2 excellent GA's and one who really did not give a hoot about anything but recruiting new agents. You'd be well served to check the thread I originally started titled something like Northwestern, Guardian, or Mass Mutual. Some fine advice is given therein. Best to you and choose wisely.

 

[BNTRS]

Here's the problem, you want to venture into more financial products, but you are talking to insurance companies, they happen to sell insurance.

Now, we might just be defining things differently, but when someone tells me they want to branch into more financial products, my mind starts to think about things like options, UITs, REITs, closed end funds, managed money products, etc.

Perhaps you're just thinking you want to get into say the variable annuity market and maybe entertain the idea of becoming an IAR. There are huge differences between the two companies you mentioned, especially in their flexibility for you as an advisor. Met Life will be much more restrictive and much more rigid than Massmutual.

Again though, if your interest truly lie in the financial and investment world, you may find partnering with an insurance company to be problematic. It'll depend somewhat on your ability to produce new business in the areas they find important.

 

[DHK]

Your #1 problem is your question - "picking a company to work FOR".

I don't work for companies. I partner with companies that fit the way I want to do business.

I'm in control, NOT the other way around.

Now, when you're new, you don't know HOW you want to work yet. That's why it's more important to find an agency culture that you like and a mentor that you can share some values with.

Until that happens... it's all academic and it won't matter.

 

[lawrence260]

I do know it really is the agency that matters a good bit, and starting out OR I keep selling CVLI and DI who knows at this point. I like the idea of working for a financial firm selling insurance, vs a brokerage selling just final expense and med supp.

MM and Met have great pros and cons "for me" and how i see myself working with them.

Mainly, is it a better idea of going with MM or Met if the agency, and GA are equal?

 

[BNTRS]

Mass


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