Thoughts on MetLife Financial Planning

Apr 29, 2008

  1. 2fast
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    What are your thoughts and/or experiences with MetLife's Financial Planning? I am looking at pursuing a career with them and would appreciate any feedback. Thanks.
     
    2fast, Apr 29, 2008
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  2. theinuranceguy
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    theinuranceguy Guru

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    Chumps would no best, he works there... But your signature is killing me lol!
     
  3. CHUMPS FROM OXFORD
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    CHUMPS FROM OXFORD Guru

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    2Fast...Your best bet is to give your local office a call and arrange an interview. Bring a list of as many questions as you like.

    It has worked well for me. You might become a huge producer or you might decide it's not for you. It's impossible to know.
     
  4. 2fast
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    I basically have an offer from them. I am in the process of trying to decide to go with a company that has an emphasis on life insurance or a company that has an emphasis on fee based planning. I'm sure that I'll be successful with whatever I choose, it just is a matter of choosing. It is kind of an apples to oranges comparison. I really like the model that they have. I am looking a Northwestern Financial as well and I also like their model of business.
     
    2fast, Apr 29, 2008
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  5. CHUMPS FROM OXFORD
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    CHUMPS FROM OXFORD Guru

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    Tough one. Both are very good companies. With me...I wanted diversification...investment products, life products, health insurance companies, P&C, and a huge General Agency that allowed me to write with hundreds of companies.

    But NW is a solid company. Can't go wrong with either one.
     
  6. 2fast
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    There in lies my dilemma. Diversification is important to me as well. I like the idea of having broader parameters to work within and being able to provide non product-biased planning and consultation. NW has such a solid name that I feel it would be an asset in landing larger accounts. Choices are sometimes a curse, but a welcome curse.
     
    2fast, Apr 29, 2008
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  7. SportsNut
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    Never having looked at what either Met of NWM offer... it would be my perception that your hunch of gettin gin front of larger HNWth clients with NWM would be correct. Of course your other perception of being able to offernon-product biased planning isn't likely to happen from any shop that sells products, let alone ones that CREATE the product.

    IMO, the only way to obtain or provide unbiased advice in financial planning is for a fee plan to be presented with the planner receiving NO consideration from any implementation of the plan's products. They are out there, but I can't imagine anyone starting out in that business.

    On the other hand, for a client who is NOT a HNWth individual, the thought of fee only planning is extremely inefficient and isn't obtaiuned by many, nor should it be... For most folks with a typical bread and butter investment and insurance need, commission driven is advice is their best option.
     
  8. djs
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    djs Super Moderator Moderator

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    Well said, I really like the way you addressed different markets, and the approach that changes based on their needs.

    The only downside to a true fee-only financial planner is they are not at all invested in the outcome of the plan. Of course, that really isn't what they do, they create the plan and set you off to go implement it.

    Of course, the benefit of a fee only fnancial planner is they will tell you the best way to make 20% guaranteed on your money is to pay off your 20% credit card, something a lot of other planners will skip.

    Dan
     
    djs, Apr 30, 2008
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  9. CHUMPS FROM OXFORD
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    Fee-based planning is available with Met. With the incredibly large number of companies you have access to, you'll be well-received by your client.

    As I said...Met or NW...both are solid.
     
  10. SportsNut
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    Part of proper implementation of a solid financial plan is for the planner to recommend asset mgrs with a solid track record... who are invested in the outcome of your plan. They are paid a small percentage of the assets under mgmt and if the assets double, so does the fee...

    Likewise, no financial plan (fee or comm driven) is complete upon design. Every planner is going to have qtrly, semi annual or at the very least, an annual review to monitor the plans progress. When things aren't going as planned, then that is a good time to alter the design of the plan...
     
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