State Farm/Edward Jones/Raymond James
- Thread starter jcarring99
- Start date
Independent
New Member
- 7
I was in your position a few years back. I eventually decided not to go withS.F. simply because I did not like their contracts and many current agents scared me away with horror stories. I did also go through the InvestmentAdvisor stage also. Commissions are good if you sell VERY large investments ora lot of life insurance. But in the end I figured that I could sell lifeinsurance even while selling Auto and Home and not have to mess with theinvestments which I personally didn’t end up liking all that much. They are twovery different businesses and both have their ups and downs. In the end I wouldrecommend going with what interests you the most because they can both belucrative if you put in the time.
- 226
If I may ask who did you end up going with??
- 1,271
In our industry, "companies" exist to take cuts out of your earnings and not to pay you a salary. In other words, you pay for your own base salary one way or another. This is why I believe you need a paradigm shift into thinking like a self-employed. If I were you, I would start saving some money now to help me survive the first few years. In meantime you can get yourself insurance licensed and try some moonlighting.
- 4,132
why are you givng up a teaching career?
- 3,764
something else to consider if you are a hard worker....Teach during the day, and run the appointments in the evening and on the weekends...I have a friend of mine that does this...He is pulling in an additional 30-40k per year....
Parents suck and too much red tape and bull$hit you have to put up with on the administrative side? If all you had to do was teach and deal with the kids, it'd be the best gig around.
- 4,132
briko,
all you've said is true, I am married to a 30 year teacher.
But, I'd like to hear from the poster. I mean jumping from one burner to the other isn't necessary a great move.
He's talking about going into securities sales. For a $500 transaction I had to complete over 30 pages of application and BD forms. I had to gather approximately 50 initialed or signed off spots on those forms. I made $11.25 on the transaction that required hours.
So while I agree with your statement, how is the securities business better if you don't have big fish? More than likely they'll have him going after 403 business with fellow teachers.
Just want him to be sure he understands he's hearing only the upside from the people who are trying to sign him up. It's a much different story after the dating is over.
all you've said is true, I am married to a 30 year teacher.
But, I'd like to hear from the poster. I mean jumping from one burner to the other isn't necessary a great move.
He's talking about going into securities sales. For a $500 transaction I had to complete over 30 pages of application and BD forms. I had to gather approximately 50 initialed or signed off spots on those forms. I made $11.25 on the transaction that required hours.
So while I agree with your statement, how is the securities business better if you don't have big fish? More than likely they'll have him going after 403 business with fellow teachers.
Just want him to be sure he understands he's hearing only the upside from the people who are trying to sign him up. It's a much different story after the dating is over.
- 15,041
Dude, that was a big ticket.
Typical security transaction for an insurance agent. $50/mo in A Shares inside an IRA. 5.25% to the B/D. Hopefully you get 4.5% of that, or $2.75/mo. Is that all 2 hours of your time in paperwork is worth? And we haven't even considered the liability that goes with it or the time you spent prospecting for this business.
