This past week an interesting conversation was started when someone in my facebook friends asked his contacts if we knew anyone who would be interested in becoming a Financial Advisor. His comment was that they need enthusiasm, attitude and energy. Subsequently I asked a recruiter who works within the financial industry "what is the industry got to offer that others do not?"
Here is his response....
Generally speaking the demographics are working very hard against the insurance advisor channel and unless these guys get their sticks off the ice, the banks will run away with their business. Pure economics…after finally learning to read, Johnny graduates from university with student debt around his neck large enough to choke a small Tasmanian village and keep his offspring eating kraft dinner for decades to come.
Along comes insurance company A who says "Johnny come work for us for 100% commission and all you can eat and steal". If you don’t starve to death you will make millions.
At the next kiosk is Bank B who says,"Johnny is that student debt around your neck or a tumor attacking your goiter?"
"I wish", says Johnny, "but it’s student debt"
"Good", says the bank, "come work for us selling insurance and investments for a $30k base and we will make that problem go away"
… years later Johnny wakes up in a cold sweat realizing he had become an indentured servant to the same people who lent him the money to get his BA. Johnny is miserable but at least with the employee discount VISA card, he can feed his family on Lucky Charms, which apparently are magically delicious.
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