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Should I join New York Life?

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ozilgoff View Drop Down
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    Posted: Apr/20/2018 at 1:50pm
Hi,

I just started my career with NYL. I haven't started working or training, just getting my license first. I believe all they have is insurance. I didn't know they didn't have investment products. They also want me to sell to family and friends which I don't like. They aren't letting me cold call and want me to go through my warm market. Should I continue?


Edited by ozilgoff - Apr/20/2018 at 2:08pm
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Post Options Post Options   Thanks (0) Thanks(0)   Quote missionshooter Quote  Post ReplyReply Direct Link To This Post Posted: Apr/20/2018 at 2:01pm
Originally posted by ozilgoff ozilgoff wrote:

Hi,

I just started my career with NYL.

Should I join them?



These are two contradicting sentences. If you started your career with them, then you are working for them.


Let' start over.

I am assuming you are a millennial. I suggest not bringing your mother with you to the next interview.

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Sorry. Meant to say I got the "offer," so started getting licensed through them. But not fully sure if I want to continue because of their policies.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote D.H.K. Quote  Post ReplyReply Direct Link To This Post Posted: Apr/20/2018 at 2:32pm
Eagle Strategies/NYLIFE Securities isn't investments?
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Post Options Post Options   Thanks (0) Thanks(0)   Quote D.H.K. Quote  Post ReplyReply Direct Link To This Post Posted: Apr/20/2018 at 2:36pm
They want you to generate revenue by the easiest way possible - regardless of your long-term prospects of survival.


"Hire 'em in masses, teach 'em in classes, sell all their family and friends, and fire their ***es."


If you know what you're doing, you can succeed... but why stay a captive agent if you're not doing it "their way"?  Far more profitable to be independent.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote D.H.K. Quote  Post ReplyReply Direct Link To This Post Posted: Apr/20/2018 at 2:41pm
He can't join NYL until he completes his insurance licensing.  Once he does some production, he'll be allowed to be sponsored for his Series 6/63 to sell mutual funds and variable annuities.  If he maintains production, he'll be allowed to get a Series 65 for fee-based asset management.

But remember:  NYL is first and foremost a life insurance company.

By reputation, they have one of the most regimented training programs out there - just not cold-calling or door-knocking.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote SometimesNowhere Quote  Post ReplyReply Direct Link To This Post Posted: Apr/20/2018 at 3:36pm
These questions are impossible without knowing your other options.

Should you join NYL as opposed to blowing dudes for rent money? Probably (unless that's your kink, then you do you)

If your options included Goldman Sachs, you should probably go with Goldman.
I sort of give a fuck.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote ozilgoff Quote  Post ReplyReply Direct Link To This Post Posted: Apr/20/2018 at 4:20pm
Originally posted by SometimesNowhere SometimesNowhere wrote:

These questions are impossible without knowing your other options.

Should you join NYL as opposed to blowing dudes for rent money? Probably (unless that's your kink, then you do you)

If your options included Goldman Sachs, you should probably go with Goldman.

Thanks for the advice. I'm interviewing with Edward Jones right now. Money is not an issue right now so I want to focus on joining the right firm to start off. I just don't agree with the policies of NYL which reaching out to friends and family and not being able to cold call.

Edited by ozilgoff - Apr/20/2018 at 4:21pm
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Post Options Post Options   Thanks (0) Thanks(0)   Quote bc2051 Quote  Post ReplyReply Direct Link To This Post Posted: Apr/20/2018 at 5:26pm
Originally posted by ozilgoff ozilgoff wrote:

Originally posted by SometimesNowhere SometimesNowhere wrote:

These questions are impossible without knowing your other options.

Should you join NYL as opposed to blowing dudes for rent money? Probably (unless that's your kink, then you do you)

If your options included Goldman Sachs, you should probably go with Goldman.

Thanks for the advice. I'm interviewing with Edward Jones right now. Money is not an issue right now so I want to focus on joining the right firm to start off. I just don't agree with the policies of NYL which reaching out to friends and family and not being able to cold call.


I vote for blowing dudes or EJ
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Post Options Post Options   Thanks (0) Thanks(0)   Quote MacCO Quote  Post ReplyReply Direct Link To This Post Posted: Apr/20/2018 at 6:09pm
Originally posted by ozilgoff ozilgoff wrote:

Originally posted by SometimesNowhere SometimesNowhere wrote:

These questions are impossible without knowing your other options.

Should you join NYL as opposed to blowing dudes for rent money? Probably (unless that's your kink, then you do you)

If your options included Goldman Sachs, you should probably go with Goldman.

Thanks for the advice. I'm interviewing with Edward Jones right now. Money is not an issue right now so I want to focus on joining the right firm to start off. I just don't agree with the policies of NYL which reaching out to friends and family and not being able to cold call.

Out of curiosity, what is NYL's prospecting policy beyond approaching those you know, if no cold calling is part of it?  How else do they expect you to get business, networking?
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Networking & chamber & stuff, referrals, professional niche marketing, etc.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote ozilgoff Quote  Post ReplyReply Direct Link To This Post Posted: Apr/20/2018 at 6:48pm
Originally posted by D.H.K. D.H.K. wrote:

Networking & chamber & stuff, referrals, professional niche marketing, etc.
Sorry, new here. What is chamber?
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Post Options Post Options   Thanks (0) Thanks(0)   Quote bc2051 Quote  Post ReplyReply Direct Link To This Post Posted: Apr/20/2018 at 6:53pm
Originally posted by ozilgoff ozilgoff wrote:

Originally posted by D.H.K. D.H.K. wrote:

Networking & chamber & stuff, referrals, professional niche marketing, etc.

Sorry, new here. What is chamber?


Oh boy. Yeah EJ for sure. You need some training
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Chamber of Commerce.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote RIArules Quote  Post ReplyReply Direct Link To This Post Posted: Apr/20/2018 at 7:34pm
Originally posted by bc2051 bc2051 wrote:

Originally posted by ozilgoff ozilgoff wrote:

Originally posted by SometimesNowhere SometimesNowhere wrote:

These questions are impossible without knowing your other options.

Should you join NYL as opposed to blowing dudes for rent money? Probably (unless that's your kink, then you do you)

If your options included Goldman Sachs, you should probably go with Goldman.

Thanks for the advice. I'm interviewing with Edward Jones right now. Money is not an issue right now so I want to focus on joining the right firm to start off. I just don't agree with the policies of NYL which reaching out to friends and family and not being able to cold call.


I vote for blowing dudes at EJ


Fixed
We may "rob you slowly," but you're not going to see that shit.

Edward Jones Newb, Circa September 2016
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What about applying at Enterprise ?
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Post Options Post Options   Thanks (0) Thanks(0)   Quote bc2051 Quote  Post ReplyReply Direct Link To This Post Posted: Apr/20/2018 at 7:45pm
Originally posted by RIArules RIArules wrote:

Originally posted by bc2051 bc2051 wrote:

Originally posted by ozilgoff ozilgoff wrote:

Originally posted by SometimesNowhere SometimesNowhere wrote:

These questions are impossible without knowing your other options.

Should you join NYL as opposed to blowing dudes for rent money? Probably (unless that's your kink, then you do you)

If your options included Goldman Sachs, you should probably go with Goldman.

Thanks for the advice. I'm interviewing with Edward Jones right now. Money is not an issue right now so I want to focus on joining the right firm to start off. I just don't agree with the policies of NYL which reaching out to friends and family and not being able to cold call.


I vote for blowing dudes at EJ


Fixed


Right after I hit submit, I thought this will be bad   
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Bump. Any more advice?
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"Begin with the End in Mind" - Habit 2 of the 7 Habits of Highly Effective People.

Do you want to learn how to sell permanent life insurance?  If so, stick with New York Life.  You probably won't beat the broker/dealer payout anywhere else (probably tops out at about 80%).  (Note: This forum isn't the most friendly towards permanent life insurance, unless you're doing estate planning or business planning.)

If you don't want to learn how to sell permanent life insurance, then you'll want to quit New York Life quickly and join another non-life insurance company.


Edited by D.H.K. - Apr/21/2018 at 6:45pm
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Post Options Post Options   Thanks (0) Thanks(0)   Quote ozilgoff Quote  Post ReplyReply Direct Link To This Post Posted: Apr/21/2018 at 7:25pm
Originally posted by D.H.K. D.H.K. wrote:

You probably won't beat the broker/dealer payout anywhere else (probably tops out at about 80%). 


Thanks for the advice. I sincerely appreciate it. What do you mean by this?
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