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Hi, I’m going to a be a financial advisor in midtown soon and I would like some advice from people in the field. My main job is to get clients and sell them all types of insurance and manage their money… I’ve read reviews on working for insurance companies(met life, prudential, axa, aig…) and I’ve heard some horrible reviews. I’m a little nervous about entering this field, can you guys give me some advice…?
I considered becoming a financial advisor here is what I know about the field. Some companies are awful to work for, but most of the time you will be out of the office, it is very independent work. Basically regardless of what they tell you their main goal is for you to sell life insurance. If you do not meet their quotas of signing up a certain amount of people per week you will quickly be fired. You can make your own schedule, but on average it is far more than a 9-5 job.
You can make tons of money in this field, but the hours are very long and the first years are extremely tough. If you can survive the first few years you can make a very good salary. I think the average retention rate after two years is close to 10%, don’t quote me on that, but I know it is extremely low.
Expectations according to the company I worked for are as follows;
Out of every 10 appointments booked, 6 will turn into meetings, 4 will produce fact finds, and only 2 will go to business.
If you can nail 2 out of 10, your on the right track.
Its possible that other companies have different standards though.
Just wondering why you opened 2 similar threads?
“I’m going to a be a financial advisor …. My main job is to get clients and sell them all types of insurance ….
Here’s some legal advice: Make up your mind and decide whether you are financial advisor or an insurance salesman.
A financial advisor should be a salaried position. An insurance salesman is a commissioned job and something that doesn’t always always pay the bills. Don’t be fooled by the double title.
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