TransAmerica or Northwestern Mutual?

Mah

Super Genius
I have interview with both companies on Thursday. I would so appreciate if you could share with me any information or questions I should ask. I'm new to the insurance/financial advising industry, but its my passion to thrive in this industry.

Thank you very much for your time and information in advance.
 
I have interview with both companies on Thursday. I would so appreciate if you could share with me any information or questions I should ask. I'm new to the insurance/financial advising industry, but its my passion to thrive in this industry.

Thank you very much for your time and information in advance.

NWML is a good solid old line career company with good training. However, too captive and starchy for my tastes. I do not know anything about Transamerica.
 
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Northwestern Mutual is quite arguably the most solid company in the industry. They have been ranked every year as one of Fortune Magazine's World's Most Admired-consistently leading their industry in terms of Quality of Products and Services; They have the highest financial strength ratings by all four major rating companies (every year they have ever run their surveys) and they are a mutual company that has been around for over 150 years.

Even measuring in just dividends alone they broke an industry record this past year-paying their policy owners a little over 5 billion in dividends-they're next nearest competitor (Not TransAmerica) payed 1.7... that's a pretty huge gap.

Honestly I've explored the industry for myself and I was unable to find people as passionate about and as solid as Northwestern Mutual, plus they pour about $100,000 into training you in your first two years, most other companies just throw you out there.

The other nice thing (sorry last thing--haha clearly, I have an opinion on this ;) ) is that Northwestern Mutual is one of the few companies left that is an exclusive distribution system-meaning that only Northwestern Mutual Reps have access to Northwestern Mutual's products, however you're still an independent contractor and can sell other companies products too. You set yourself apart from your competition in the industry though by having access to both NMFN's products and any other companies, where as if you were contracted with TransAmerica you couldn't ever sell Northwestern Mutual's products.

I hope this helps! :)
 
Soundmind your information is very helpful it was good to hear from someone other than the website of NWM. I spent the whole evening looking at their website and I'm impressed with their training strategies and marketing development, it will help me be where I want to be in 10 years.

Thank you very much,
Mah
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Thank you Xrac. I'm leading towards NWM. All the tools they offer to new reps can literally make me successful financial adviser oneday.
 
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Generally speaking I would choose NWM over Trans.
I would choose MM/Met/NYL over NWM or Trans.


In the end the biggest determination of your success will be the training program the office you choose has.

A NWM office in Atlanta will be different than a NWM office in Charlotte. And your success could be very different at each different office.

It comes down to the management at each office. The quality of management will dictate your training/success.
And there is no way for anyone here to tell you the quality of management at those particular offices.

The best advice for you is to pick the office you feel most comfortable with.


As already stated, NWM has a very good reputation. But Trans doesnt have bad products at all.
NWM's bread & butter is higher income white collar prospects. But they can be marketed to middle income too.
Trans will be good for middle income prospects. But they can compete in the Term market with most any company.

Like I said, pick the office that seems like they have the best training and will spend the most time with you.
 
Generally speaking I would choose NWM over Trans.
I would choose MM/Met/NYL over NWM or Trans.


In the end the biggest determination of your success will be the training program the office you choose has.

A NWM office in Atlanta will be different than a NWM office in Charlotte. And your success could be very different at each different office.

It comes down to the management at each office. The quality of management will dictate your training/success.
And there is no way for anyone here to tell you the quality of management at those particular offices.

The best advice for you is to pick the office you feel most comfortable with.


As already stated, NWM has a very good reputation. But Trans doesnt have bad products at all.
NWM's bread & butter is higher income white collar prospects. But they can be marketed to middle income too.
Trans will be good for middle income prospects. But they can compete in the Term market with most any company.

Like I said, pick the office that seems like they have the best training and will spend the most time with you.

I agree. NWML is a good company but not my cup of tea. To the list of MM, NYL, and Met I would add Guardian but SCAGNT83 is right. It is the quality of the local office that will make this a good move or not.
 
I have a friend that recently interviewed with Transamerica. She is new to the industry and basically wanted to get a job to learn and get some experience.
After taking the LIMRA test, the interviewer said that there was a "DO NOT PROCEED" on her application. Turns out that her goals were to high!
They then went to town to sell her on the independent - non captive position. Higher commissions etc. but she would be left out in the cold as far as starting with a book of businss to learn from.
ITs funny they keep an advertisement on Career Builder constantly for the captive career agent but they really don't want that.
I'd recommend NW Mutual
 
They then went to town to sell her on the independent - non captive position. Higher commissions etc. but she would be left out in the cold as far as starting with a book of businss to learn from.
ITs funny they keep an advertisement on Career Builder constantly for the captive career agent but they really don't want that.
I'd recommend NW Mutual

Most all Life companies will not give you a book of business when you hire on.

Actually, I know of absolutely zero major Life Insurance Companies that will give a new hire a book of business.

Giving a new agent a book of business would be absolutely stupid. With the attrition rate in this industry no company in their right mind would hand a book of established clients to a new recruit.

I know for a fact that NWM does not.

The most a green agent can hope for are some cold lists or luke warm leads from the corporate website.

For a green agent its all about which office will provide the best training, and that will be specific to the management at each individual office.

And I second Xrac's Guardian recommendation.

Out of all thats listed Guardian and Met are probably the most versatile companies.
 
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