Starting to Question my Firm

[AlTheGud1sRtakn]

I've been in the business less than a year now and I'm starting to question the firm I joined up with. They're a good firm and headed in a good direction, but they have a tendency to micro-manage the hell out of people right after telling them they can build their business however they want. I'm also starting to realize some real hurdles with being captive - I'd like more variety in what I can offer.

I've searched here and several other forms without coming to any real conclusions so I figured I'd start a new thread and see if there were any ideas.

What I'd like is a firm that does life insurance (long term care and disability would be a plus as well), mutual funds (A-shares and Advisory), annuities, the option to manage stocks in a portfolio without it really being a focus, and most importantly - a high degree of autonomy.

At first I was thinking Edward Jones could be good but I hear their payout once you're really killing it isn't that great and not having control over who your assistant is would bother me. Raymond James sounds good on the investment side but I don't know much about what they do for insurance, any insight there? I've talked to some people from Mass Mutual and I don't think the culture is right for me, at least in my area. Where else should I be looking? Should I just stay where I am and work through it? I'm not set on leaving, I'm just becoming more aware of some things I wish I'd known when I got into the business.

 

[Tahoe Ray]

I've been in the business less than a year now and I'm starting to question the firm I joined up with. They're a good firm and headed in a good direction, but they have a tendency to micro-manage the hell out of people right after telling them they can build their business however they want. I'm also starting to realize some real hurdles with being captive - I'd like more variety in what I can offer.

I've searched here and several other forms without coming to any real conclusions so I figured I'd start a new thread and see if there were any ideas.

What I'd like is a firm that does life insurance (long term care and disability would be a plus as well), mutual funds (A-shares and Advisory), annuities, the option to manage stocks in a portfolio without it really being a focus, and most importantly - a high degree of autonomy.

At first I was thinking Edward Jones could be good but I hear their payout once you're really killing it isn't that great and not having control over who your assistant is would bother me. Raymond James sounds good on the investment side but I don't know much about what they do for insurance, any insight there? I've talked to some people from Mass Mutual and I don't think the culture is right for me, at least in my area. Where else should I be looking? Should I just stay where I am and work through it? I'm not set on leaving, I'm just becoming more aware of some things I wish I'd known when I got into the business.

I'll pm you my phone number and email. I work the indy broker/dealer space and would be happy to offer some direction.

 

[Stephen]

I've been in the business less than a year now and I'm starting to question the firm I joined up with. They're a good firm and headed in a good direction, but they have a tendency to micro-manage the hell out of people right after telling them they can build their business however they want. I'm also starting to realize some real hurdles with being captive - I'd like more variety in what I can offer.

I've searched here and several other forms without coming to any real conclusions so I figured I'd start a new thread and see if there were any ideas.

What I'd like is a firm that does life insurance (long term care and disability would be a plus as well), mutual funds (A-shares and Advisory), annuities, the option to manage stocks in a portfolio without it really being a focus, and most importantly - a high degree of autonomy.

At first I was thinking Edward Jones could be good but I hear their payout once you're really killing it isn't that great and not having control over who your assistant is would bother me. Raymond James sounds good on the investment side but I don't know much about what they do for insurance, any insight there? I've talked to some people from Mass Mutual and I don't think the culture is right for me, at least in my area. Where else should I be looking? Should I just stay where I am and work through it? I'm not set on leaving, I'm just becoming more aware of some things I wish I'd known when I got into the business.

You really need to find an independent RIA for the level of independence that you are looking for. Unfortunately I don't know anyone in Virginia.

 

[DHK]

In Virginia? I'd take a look at our forum sponsor - Ohio National and ONESCO.

Great payout on life & DI. (no LTC though).

Life & DI production counts towards ONESCO B/D production. Must be able to show a minimum of $20,000+ GDC for 2+ years to be appointed with their B/D (from what I could gather).

 

[Norwayguy]

You will never truelly be able to build your book however you want to while you remain a registered rep as the B/D is required to maintain supervision over you.

 

[moonlightandmargaritas]

I've been in the business less than a year now and I'm starting to question the firm I joined up with. They're a good firm and headed in a good direction, but they have a tendency to micro-manage the hell out of people right after telling them they can build their business however they want. I'm also starting to realize some real hurdles with being captive - I'd like more variety in what I can offer.

You have to guard against rationalizing/blaming your struggles on being captive. Ask yourself long and hard...is the problem prospecting/not enough people to see? If so, how would "independent" be different?

 

[AlTheGud1sRtakn]

You have to guard against rationalizing/blaming your struggles on being captive. Ask yourself long and hard...is the problem prospecting/not enough people to see? If so, how would "independent" be different?

I wouldn't say I feel as though I'm struggling because I'm captive, I'd say a lack of options is frustrating at times though.

A big part of my problem is that they keep saying it's your business, build it however you want... ...if you don't do exactly X then you won't have a job here anymore. This gets especially old when X is things like calling your family and friends after 9pm (you can't cold call after 9 so it's a "great" time to reach people you already know) every week until they're a client. That just pisses people off and I know that a good deal of the things I've done just to appease management has alienated me from people I think I would have otherwise had no issue doing business with. I'd rather go out and talk to business owners but they'd rather I cold call a book of leads that aren't even pre-screened and have already been called relentlessly.

 

[VolAgent]

Call friends after 9pm to sell them insurance is a great way to lose friends.

 

[AlTheGud1sRtakn]

So most of the firms I've talked to about switching that I'd like to work for want me to be more seasoned before they'll take me. They've also pretty much all suggested leaving where I am and finding a firm that's not captive so that should I still want to switch to them in 2-5 years I can keep more of my book of business. Thoughts?