Leaving Northwestern Mutual to Go to Where?

[scout]

I'm looking for some advice as to what path to take from here...

I've been with Northwestern Mutual for 4 months now and am not happy with the culture, workplace environment or the fact that they now "own" my clients that I've given them. Although, I will be trying to take them with me.

I feel like I have a good grasp of the industry but would like to earn more before going independent possibly in the future. Are there major differences between NM, New York Life and Mass Mutual or will I be setting myself up for the same churn & burn type of environment if I attempt to go there?

I'm looking for options, am relatively new to the industry, and could use some helpful advice from the more well seasoned veterans here.

 

[Larry Tew]

Scout, honestly... after just 4 months you don't even know what you don't know. Northwestern certainly isn't the only career agency out there, but they all - including the ones you mentioned - have more similarities than not.

Figure out what it REALLY is about where you are that you don't like before jumping out of the frying pan into the fire.

 

[LGilmore]

It really isn't the company, it's the office that matters. I can't honestly advise you to try to go independent as you need a support system just starting out.

How hard did you look before NWM?

 

[scout]

Figure out what it REALLY is about where you are that you don't like before jumping out of the frying pan into the fire.

Thank you for the advice and it makes sense. The location I am at is filled with hate & discontent for starters and the atmosphere in general just plain sucks. The lack of on going training is abysmal and not at all what I was promised either.

What I've gotten thus far is bring in 200 names, sell to your family, friends and pester everyone incessantly for referrals.

I've asked about other companies products that might be more suitable for a client and have been told flat out that we're the best, period, don't ask. I asked about DI after reading a few things on here and was told by my "mentor" that they have no idea what any other company offers and to simply sell NM regardless.

I want to do what's best for the client and if that includes selling another company's products then so be it. This doesn't go over very well at my office.
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It really isn't the company, it's the office that matters. I can't honestly advise you to try to go independent as you need a support system just starting out.

How hard did you look before NWM?

I think that maybe the key issue and the office here is the problem. I believe NM has good products and offers good services but the one and only office in my town doesn't exhibit the type of people I met at the annual meeting when I first started.

Honestly I didn't look hard and took it on the advice from a friend who worked for the company. Foolish, I know, but that's why I'm considering other options now.

 

[xrac]

Mass Mutual and Guardian are both much more open to selling other products and you establishing your own practice. I would definitely talk to them. I understand that NYL is good on training. If you are interested in securities talk to EDJ.

 

[VolAgent]

Mass Mutual and Guardian are both much more open to selling other products and you establishing your own practice. I would definitely talk to them. I understand that NYL is good on training. If you are interested in securities talk to EDJ.

The statement I bolded is about 100% wrong for this guy. 4 months in, every career shop in the world is going to want him exclusively selling the name on the door. I know one Mass agency that was forbidding people on financing from selling away. They also were trying to make everyone use Mass's arrangement with Ash brokerage, even though the comp sucked and the case manager was blowing out cases left and right.

I'm not a huge fan of NWM, but for this guy the only difference between them, Mass, Guardian and NYL will be the office culture. None of them are going to want him selling away so soon in his career. Instead of selling away, he would be better served prospecting for people who fit NWM's model.

 

[scout]

I'm not a huge fan of NWM, but for this guy the only difference between them, Mass, Guardian and NYL will be the office culture. None of them are going to want him selling away so soon in his career. Instead of selling away, he would be better served prospecting for people who fit NWM's model.

After thinking about it more, speaking with my wife, and really reflecting on what I was asking here I think that the office culture is at the core of the issue for myself.

 

[VolAgent]

After thinking about it more, speaking with my wife, and really reflecting on what I was asking here I think that the office culture is at the core of the issue for myself.

Then going to a different company could be good for you.

Just remember this, as long as you are in any career shop, your job is to sell the name on the door. If you find yourself selling too much of another company's product, then it is time for a "Come to Jesus" meeting. Either with yourself or a manager.

Prospecting for what you want to sell is the key. If you can successfully prospect the right markets, you won't have any trouble selling for any mutual.

 

[Josh]

After thinking about it more, speaking with my wife, and really reflecting on what I was asking here I think that the office culture is at the core of the issue for myself.

That can torpedo things in and of itself.

In an early comment you talked about wanting to sell what's best for the client. "Best" is a term that is prohibited by many consumer protection agencies, and frankly I think it's for good reason. Best is fairly subjective in some ways. If you can offer a strong product with a stable company at a fair price along with solid recommendations and help your customers feel taken care of because they are taken care of, a few bucks a month here and there isn't as important. A client would be better off paying a little more and getting the right product than getting the least expensive carrier with the wrong product for them. I'll admit some bias here. When I started my career I started with AIL. I sold small WL policies with term riders and an ad&d policy to union members. Most of them would never sit down with a licensed insurance agent to discuss their needs and offer them a product. Would most of them have been better with a term policy with no WL? Likely. The fact of the matter is every client I sold insurance to was better off when I left. Sometimes people will die and their families will get checks from AIL and it would have very literally been that or nothing.

If you go independent you'll be able to find a bunch of different products you can use for your clients. I don't sell insurance much anymore (5 life policies last year and 1 annuity), but one of my favorite carriers is Assurity. I like them for the simple fact that their underwriters are easy to get in touch with. They also offer good products at fair prices. They're not always going to be the absolute least expensive, but they're a stable company and a lot of the time they're going to be able to take care of what I need with a single carrier. It might take a little longer to get paid with them than with most other carriers, but in my opinion it's a small price to pay compared to the ridiculousness that other carriers will want me to go through to talk to an underwriter or ask a question about a product.

 

[xrac]

The statement I bolded is about 100% wrong for this guy. 4 months in, every career shop in the world is going to want him exclusively selling the name on the door. I know one Mass agency that was forbidding people on financing from selling away. They also were trying to make everyone use Mass's arrangement with Ash brokerage, even though the comp sucked and the case manager was blowing out cases left and right.

I'm not a huge fan of NWM, but for this guy the only difference between them, Mass, Guardian and NYL will be the office culture. None of them are going to want him selling away so soon in his career. Instead of selling away, he would be better served prospecting for people who fit NWM's model.

Yes, early on they will want him to sell their product but once he is established he has an opportunity to do a lot more than he can at NWML and has more freedom. My understanding is they pretty much leave you alone as long as you do your required production through the company. Am I wrong//// SOMEONE HAS SPELLED SOMETHING IN MY KEYBOARD.