Amazing, since I've joined in the discussion here I've heard all very fine reasons why to not sign with NML. Generally Mass and Guardian seem to be better represented and suggested. Are there any NML agents out there who are with the company and can you tell me the benefits of going with them? Former NML agents please, if you will, tell me why you left.
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NML Agents ?
- Thread starter DRJCBPA
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Re: Nml Agents????
I am not a current or former NML agent but my impression is that NML agents as a rule act like and think they are better than other agents and their company is better. They have a very stiff shirt, closed type, culture and they do not have the freedom to develop their practices like the Guardian and MM agents do. If you are dealing with a NML agent you will know they are with NML but if you go to many Guardian or MM offices it may take a while to figure out that they are with those companies.
Here is an example of what I mean. These are website for Guardian GA's but how prominently does the name Guardian figure in their website and business?
http://www.horizonplanninggroup.com/3801.html
Lifetime Financial Growth
The Financial Process Group
http://www.thewellingtongroupllc.com/new/thewellingtongroupllc/
I am not a current or former NML agent but my impression is that NML agents as a rule act like and think they are better than other agents and their company is better. They have a very stiff shirt, closed type, culture and they do not have the freedom to develop their practices like the Guardian and MM agents do. If you are dealing with a NML agent you will know they are with NML but if you go to many Guardian or MM offices it may take a while to figure out that they are with those companies.
Here is an example of what I mean. These are website for Guardian GA's but how prominently does the name Guardian figure in their website and business?
http://www.horizonplanninggroup.com/3801.html
Lifetime Financial Growth
The Financial Process Group
http://www.thewellingtongroupllc.com/new/thewellingtongroupllc/
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Re: Nml Agents????
DRJCBPA, I apologize for my tardiness in responding to your PM, and I appreciate your questions and the time you took to ask them. However, I thought I would just respond by posting a response here...obviously you can PM me with any more questions if you like.
I am a former NML agent who is now with Mass.....although I have my own office and write a lot of business outside of Mass on UL cases. So being a former NML agent as well as being with Mass currently I have traveled your path with NML and am currently on the path your considering.
There are a couple of reasons that I left NML.
Xrac, good posts....your observations are dead-on.
DRJCBPA, I apologize for my tardiness in responding to your PM, and I appreciate your questions and the time you took to ask them. However, I thought I would just respond by posting a response here...obviously you can PM me with any more questions if you like.
I am a former NML agent who is now with Mass.....although I have my own office and write a lot of business outside of Mass on UL cases. So being a former NML agent as well as being with Mass currently I have traveled your path with NML and am currently on the path your considering.
There are a couple of reasons that I left NML.
- The desire to be in a position where I could make decisions based upon the clients best interest
- I wanted to be able to "brand my practice" by operating my practice under my own company name
- The ability to have my own office, outside of a NML office
- To be able to use/have access to planning software, and technology that wasn't proprietary
- To be able to offer "fee-based planning" and have access to a Corporate RIA and wrap accounts for investments. At NML wrap accounts and the CRIA were available IF you were series 7 licensed...not interested, nor do I need this license.
- To truly be in a position where if I produce more I get more. No matter how much you produce at NML your compensation and allowance remained the same. Someone writing 750k of premium a year has the same overall payout as somone doing 150k.....I believe that "equal treatment isn't fair and fair treatment isn't equal". Bigger producers should be rewarded for their higher overhead and cost of doing business....not General Agents and management.
- I needed to be with a general agent who sees their primary role as providing value, coaching, and support to their producers. At NML my management team didn't provide this.
- Finally, I wanted to be in a culture of experienced, successful advisors...not a bunch of young college kids all drinking the kool-aid.
Xrac, good posts....your observations are dead-on.
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Re: Nml Agents????
Thank you!
Back to my point about branding. MM & Guardian allow you to brand yourself. Contrast the Guardian Agency websites I listed above with this NML agency website from my city.
Northwestern Mutual Financial Network : The Evansville Group
You can see the difference immediately that this is an NML agency website.
Now here is an MM agency website. Unless you search you really can't tell this is MM.
WestPoint Financial Group
Thank you!
Back to my point about branding. MM & Guardian allow you to brand yourself. Contrast the Guardian Agency websites I listed above with this NML agency website from my city.
Northwestern Mutual Financial Network : The Evansville Group
You can see the difference immediately that this is an NML agency website.
Now here is an MM agency website. Unless you search you really can't tell this is MM.
WestPoint Financial Group
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Re: Nml Agents????
I was with NML for 15+ years, but really only active for 13. I did a wonderful job and was one of the few members of the Baird Experiment. I had a great GA who allowed me to Brand my business and mentor me and provide very generous over rides. I left the business and now 16 years later I am re-entering and wondering whether Mass or NML is the best fit for me and the kind of practice I will run. I earned my CFP in 1990 but foolishly allowed it to go dormant 5 1/2 years ago thinking I would never go back. My 7 went dormant 2 1/2 years ago so I am in the thick of preparing to complete the 7 and plan on sitting for the CFP exam within a year. I fully expect my practice to be full service financial planning as it was prior. I will not be an insurance based planner and I will charge fees if that is what the client prefers. (Most don't). I am trying to get the lay of the land to help me with my decision. I am very impressed with the Mass GA, the business plan, and the culture of the group. NML has not changed much and there are a lot of younger agents running around trying to keep their OCS operational (which I fully subscribe to since it keeps me accountable to myself) I do not need outside motivation, I have a financial obligations and that is motivation enough to work. I will probably set up shop as a detached agent eventually, but may stay in the agency for 6 mos or so, to get the product knowledge down and understand how to process business etc. I hate to think that NML won't work for me, but I don't think it will.
I was with NML for 15+ years, but really only active for 13. I did a wonderful job and was one of the few members of the Baird Experiment. I had a great GA who allowed me to Brand my business and mentor me and provide very generous over rides. I left the business and now 16 years later I am re-entering and wondering whether Mass or NML is the best fit for me and the kind of practice I will run. I earned my CFP in 1990 but foolishly allowed it to go dormant 5 1/2 years ago thinking I would never go back. My 7 went dormant 2 1/2 years ago so I am in the thick of preparing to complete the 7 and plan on sitting for the CFP exam within a year. I fully expect my practice to be full service financial planning as it was prior. I will not be an insurance based planner and I will charge fees if that is what the client prefers. (Most don't). I am trying to get the lay of the land to help me with my decision. I am very impressed with the Mass GA, the business plan, and the culture of the group. NML has not changed much and there are a lot of younger agents running around trying to keep their OCS operational (which I fully subscribe to since it keeps me accountable to myself) I do not need outside motivation, I have a financial obligations and that is motivation enough to work. I will probably set up shop as a detached agent eventually, but may stay in the agency for 6 mos or so, to get the product knowledge down and understand how to process business etc. I hate to think that NML won't work for me, but I don't think it will.
- 11,322
Re: Nml Agents????
Please help us understand what you mean... especially since you're applying with life insurance companies?
Please help us understand what you mean... especially since you're applying with life insurance companies?
- 8,707
Re: Nml Agents????
Hey is Like insurance something where if I run into people and they don't like me the insurance covers my binge at the bar? Sorry I know its a serious thread but I couldn't help myself.
Hey is Like insurance something where if I run into people and they don't like me the insurance covers my binge at the bar? Sorry I know its a serious thread but I couldn't help myself.
