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In Reply to: Primerica vs. Helping Build Wealth posted by Sammy on July 30, 2003 at 19:43:55:
: Which company is the better to work for?
I'm sorry, but I can't help but to laugh. I too started in this industry working for an MLM... I was with World Financial Group (formerly known as World Marketing Alliance). In my humble opinion, MLM's are successful because they create turnkey marketing. Unfortunately, the financial industry isn't something that is easily duplicatable (sp?) and thus a financial business doesn't work well in an MLM setting. So I quit working with WMA/WFG a couple of years ago, but recently returned to the industry when a good friend of mine opened up his own broker-dealer/agency and wanted me to come work with him.
I'm not necessarily saying this is the right road to take for you (referring to opening your own shop), but I am saying that in my opinion, you're doing a huge dis-service to yourself and to your clients by going with these other companies. A couple of people who have responded to your post have told you the right way to do it (i.e. find a good company like Mass Mutual or some of the others to work for). If you don't go to a company like that, sooner or later you'll realize that you can't make it with any company that allows recruiting and overriding as a way to make money.
Oh and just FYI, to compare as Jeff Smith has done in his post, our firm is:
- Captive at the higher commission levels
- Starting commission levels are between 50-70% (depending on experience and closing rate) for insurance and securities
- We like full-timers, because a part-time financial advisor is just a salesman
- We provide quality leads
So Sammy, I guess you have to decide for yourself... but before you make your decision, make sure you search the internet, the local newspaper, etc to find all the options available to you. Don't be fooled into thinking that WMA/WFG, Primerica, and/or HBW are the only companies out there for you.
