Vantaggi
I worked with a different broker dealer for 2 1/2 years prior to joining MFP. I'm glad I had that experience as it provided me with perspective as to how other agencies are managed. In that previous office, I had to pay out of pocket for my office space in addition to paying for my own training and professional exams, medical & dental insurance for my family out of pocket and had no retirement or HSA plans available. Pay there was 100% commission on 1099 only. I knew MFP was a very pleasant change to that experience from the first interview. The mentorship and support here at MFP is truly unique in this business. We have the strong platform of MassMutual, one of the top industry leaders, combined with the local agency focused on supporting the needs of our clients here in Silicon Valley and the greater San Francisco Bay Area. Whether your client's looking for insurance, disability, long term care, retirement, corporate 401k plans or wealth management, MFP provides the best in the industry for us to customize a plan for their exact needs. If your client needs a service that you are not familiar with, MFP has a Joint Work council that will pair you up with an experienced agent who will mentor you through that sale as a learning process without expecting a share of the commissions earned. It's a very efficient way to simultaneously learn & succeed in a professional environment as well as support the new agent in their early career. The management organizes weekly meetings for all agents, some of whom work in satelite offices, and provide training for new products, industry updates or compliance changes and reviews. It's an opportunity to see the other agents and network on what they are doing and how you can possibly work together. MFP is a family environment and they let you know that family is #1. As a single mom, it's important for me to know that I have the flexibility to work from home when I need to or to work my appointment schedule around my family's schedule. Of course, this is best taken advantage of when you have shown yourself to be motivated, focused and making all the efforts you need to do to succeed in your career. The compensation structure here is a unique combination of W2 earnings through MassMutual that allow you to have medical, dental & vision insurance, 401k, HSA and other benefits while you also earn commissions through a 1099. This means you have no limit to your earning possibility. This is the best opportunity for a self motivated, focused and professional individual.
Svantaggi
Any business you choose to do is going to have a learning curve, going to require training and direction from management. I've worked in this valley in different industries and I've seen environments turn nasty with competitive internal promotion structures. Your only competition here is yourself - you can work as hard and as fast as you want to towards your success. Whinging about attending trainings and meetings is really not going to work towards that success. Your mentors will be here to answer any questions and support any efforts that you wish to do, but you need to be the motivation behind that.