Who is a Better Company to Work for Starting Out Guardian or New York Life?

[Empire Builder]

I am already licensed and looking to start my career. Its between a financial advisory company that works closely with Guardian (they have a floor in the home office of Guardian on Wall-Street). Or start a career with New York Life. The Financial advisory company does a lot of insurance work mostly with Guardian but can provide other policy's for clients. Furthermore they deal with investments retirement planning, estate planning, wealth management, including 529 plans etc. Which would be a better opportunity to launch a career? With the financial advisory company the 1st year commission is 80% and all work that is split with upper management is 50/50 after the first three months (within the first 3 months its 100% my commission only with not split). Any thoughts comments? Would be dealing with mostly business owners and upper middle class+ individuals. Thanks in advance!

 

[DHK]

Start reading here:

http://www.insurance-forums.net/for...-do-you-think-general-agent-pitch-t69105.html

 

[Empire Builder]

Thanks but can you send me some links about NYL i don't know where the search function is yet as I am new here.

 

[DHK]

Insurance Forum - Search Forums

 

[Empire Builder]

Truthfully i am having a very difficult tie deciding which is the best career path. Does NYL do financial planning? Which is a better company to work for if it was for life and maybe go into management? I really hope more people chime in as to their knowledge of both companies. I have my H&L license already and a degree in Finance. As stated I would be dealing with a lot of business owners who easily make over 150-250K per year.

DHK I read the whole link you first posted and the position is very similar with my firm in NYC as wonder woman's in Florida. Same idea and philosophy as that agency except there are about 100 reps in the NYC location and they work out of Guardians home office with a floor to themselves. The LBS is $300/per month, however, starting out the first year you only pay $100/month, year two its is $200/month, and year three and on its $300/month according to the agency i am dealing with. I haven't spoken with NYL yet but will this coming monday and will be talking directly with the managing partner of the office. I appreciate all and any guidance. I am not really finding the information of opinions on who is better to work for between the two.

Thanks!

 

[Norwayguy]

Truthfully i am having a very difficult tie deciding which is the best career path. Does NYL do financial planning? Which is a better company to work for if it was for life and maybe go into management? I really hope more people chime in as to their knowledge of both companies. I have my H&L license already and a degree in Finance. As stated I would be dealing with a lot of business owners who easily make over 150-250K per year.

DHK I read the whole link you first posted and the position is very similar with my firm in NYC as wonder woman's in Florida. Same idea and philosophy as that agency except there are about 100 reps in the NYC location and they work out of Guardians home office with a floor to themselves. The LBS is $300/per month, however, starting out the first year you only pay $100/month, year two its is $200/month, and year three and on its $300/month according to the agency i am dealing with. I haven't spoken with NYL yet but will this coming monday and will be talking directly with the managing partner of the office. I appreciate all and any guidance. I am not really finding the information of opinions on who is better to work for between the two.

Thanks!

NYL also has an RIA you can join. Both are good companies the real question is which office would be a better fit for you?

 

[Empire Builder]

NYL also has an RIA you can join. Both are good companies the real question is which office would be a better fit for you?

NYL office is very close to my home maybe 10 min car ride and the manager there has been talked of very highly to me from an individual who has been doing business with my family for decades and that there is no better person to learn from. Guardian location is in NYC on Wall-Street based out of Guardians home office the firm has their own floor in Guardians building. The commute is more rough, however, I do get good feelings from management there. The person I would be working with who is high up at the firm is telling me to preach how amazing the firm is and the amazing work they do for their clients (which I have not yet seen in person). He repeatedly tells me they save money for their clients in taxes and other ways more than any CPA or lawyer could? The only down side to this firm is that they always want prospective clients to come into the office for presentations. However, most of my client base is out in NJ and many would not want to really make it out to NYC downtown. They do have access to offices in NJ but the person I would learn under mostly works in NY and wants me to get them to come there than meet with them in NJ. Furthermore, the CEO of this firm says the individual i would work under is the best there could be and he seems very smart to me as well (have yet to meet the NYL managing partner). If someone has a NYL policy would clients be willing to switch them over to Guardian or there is no real chance to that?

 

[DHK]

If someone has a NYL policy would clients be willing to switch them over to Guardian or there is no real chance to that?

I wouldn't be planning on doing that regardless of which company you choose.

In general, if you think you might leave an agency, then Guardian will let you service the policies you've previously sold and be a broker with them.

New York Life generally will not.

 

[Empire Builder]

Any more advice from others is appreciated and welcome! Thanks !

 

[kgmom219]

Things to consider:

1. Who has the best training on their products?
2. Who has the best training on how to prospect and sell?
3. Which office provides the most administrative support (not a first year issue, but when you need an admin, is there is monetary support? Training to your admin? E&O coverage?)
4. If you decide to leave, do you keep your book of business?
5. Which company has the best products? Not just Life. Disability, too. LTC. What happens when you client can't get "their" DI, but another company will write it. How do they handle that.
6. What happens when you run into other business? Group health, for example. Do you sell it? Is there someone in the office who sells it and you get a cut? (You are going to be in front of a lot of business owners. This is going to come up.)
7. Will you have a mentor? If so, for how long?
8. Talk to the GLIC guy about the NJ issue and coming to the office. See what he says.
9. Long term, are you allowed to have an "off site" office? You mentioned the NJ/NYC issue. After 3 years (you are really going to want the support of other agents in the first 3 years) can you open your own office in NJ?

Good luck!