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9/15 Thread (BC):
Additional Posts in Financial Advisors
Favorite Non-Fiction captivating podcast?
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9/15 Thread (BC):
Favorite Non-Fiction captivating podcast?
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I haven’t heard that but I doubt what mass mutual does will have any impact on what any top tier firm does.
Insurance broker dealers are so harmful to clients. Do your clients a favor and get to an independent B/D that has no proprietary products. You will enjoy the industry so much more and you will have a clear conscience. If it is just that you are nervous about hitting $100,000 GDC and you are within your first 5 years, hang in there. You will most likely get there. If you have been in the industry for over 10 years and you are worried about minimums, then you may want to consider finding a different career. This industry is far to challenging to be miserable and not make the money you desire.
I’m not sure how that would work tbh. Unless you’re being given leads to work and are assessed in some other way...
I'm sure it has to do with RegBI and the "best interest" of the client. If a company "forces" its employees to sell so much of a specific product(s) it may not necessarily be in the client's "best interest."
I used to work at MassMutual (when it took over MetLife) and was surprised that they had a product quota. If you didn’t sell enough MassMutual insurance and annuities, you would be fired. I left because I thought it a conflict of interest to force feed one carrier’s product. However, so many advisors did not meet this quota so they had to continually “forgive” these missed quotas. I have not heard that they are doing away with quota but assume that if they are it is because of advisor pushback.