Primerica... Anybody here ever do it?

[davej1963]

I was approached by a woman while working out. She complimented me on my physique and then started to make small talk about talking to me further about working for Primerica. I said to her that I was interested in getting back into the corporate world thinking that is what this job was... she stopped me and said "Why work for someone else when you can work for yourself".

They invited me to this little orientation, where agents came up and basically talked about what primerica do and how they climbed the ladder and got to where they are now, financially, which I basically heard already in the sit down with my coworker and his wife. During this orientation, in the back of my mind I was thinking "this is too good to be true" everything just sounded too perfect. Everyone there had this fake "I'm so happy to be in primerica" attitude that it was contagious and I haven't even joined yet lol.

She was vague and when I asked her what is it that this job entailed she said "getting people to save money for their future". Now I know better and will avoid her phone call at all costs. I can't be bothered with pyramid type sales jobs.

I thought it was like Amway or Avon, but with insurance. I would really like to get my insurance and brokerage license and help people get insurance and saving. But I don't feel like I can trust this person I gave those numbers and was confident that we would call them together and he took it upon himself to call them on his, own my family. I'm not very happy and you know I learned nothing of what was the products so, just a lot of scribbling on paper. I don't guess I'll be going back anymore. Sounded so cool

Has anybody here ever tried it?

[Carlton G. Long]

It's the kind of thing either Goodrum or that 24KT kvnt would try...if they could pass the licensing tests.

Don't waste your time, mate.

[njflex]

again with most things in life it's what u put in to it that determines how far or how much $$$ you can make,if you go in all out and buy into there thinking your good,but.....if there's any skepticism your not going to succeed..on a side note I did the one time amway meeting,it was cringeworthy ,guy I worked with was in it so I said what the heck,i could not wait to leave...

[2Thick]

Don't go with Primerica. The financial advisory business is no place for MLM. You need credibility, honesty, integrity, etc to be successful as an advisor. MLM destroys that.

No sane, rational working or retired wealthy person who is or was a doctor, lawyer, oilman, executive, etc is going to give their millions to a rep at a MLM financial services firm. And none of them are going to have any interest in quitting their high paying jobs or getting out of their comfortable rocking chairs to be part of your MLM hustle.

You'll basically be limited to investors with limited funds, and spend most of your time actually trying to hustle others to work under you as advisors. Nobody who is successful in their current career will want to quit to do such a thing for Primerica.

And MLM in general doesn't work at all for most, and only works very well for very few - mainly those at the top of the pyramid.

Primerica advisors are the laughing stock of the industry. You'll actually be less marketable to any legit firm after you've left them - and you almost certainly will sooner or later.

You'll be much better off trying to get on with a bank or a major firm like Merrill Lynch, Wells Fargo, JPM, etc. You'll get a salary for several years, have all expenses paid, etc. Avoid Primerica like the plague. And Ed Jones isn't much better.

Feel free to PM me if you'd like. I'm pretty busy during the week, but I'm usually online for an hour or 2 a day on the weekends.

[Howard]

Don't go with Primerica. The financial advisory business is no place for MLM. You need credibility, honesty, integrity, etc to be successful as an advisor. MLM destroys that.

No sane, rational working or retired wealthy person who is or was a doctor, lawyer, oilman, executive, etc is going to give their millions to a rep at a MLM financial services firm. And none of them are going to have any interest in quitting their high paying jobs or getting out of their comfortable rocking chairs to be part of your MLM hustle.

You'll basically be limited to investors with limited funds, and spend most of your time actually trying to hustle others to work under you as advisors. Nobody who is successful in their current career will want to quit to do such a thing for Primerica.

And MLM in general doesn't work at all for most, and only works very well for very few - mainly those at the top of the pyramid.

Primerica advisors are the laughing stock of the industry. You'll actually be less marketable to any legit firm after you've left them - and you almost certainly will sooner or later.

You'll be much better off trying to get on with a bank or a major firm like Merrill Lynch, Wells Fargo, JPM, etc. You'll get a salary for several years, have all expenses paid, etc. Avoid Primerica like the plague. And Ed Jones isn't much better.

Feel free to PM me if you'd like. I'm pretty busy during the week, but I'm usually online for an hour or 2 a day on the weekends.

Great post with some rare but solid advice here on getbig.

[BB]

-

http://www.consumeraffairs.com/employment/primerica.html .

In my estimation, seldom good has ever come of a cold call by an unknown party.

[Vince G, CSN MFT]

Don't go with Primerica. The financial advisory business is no place for MLM. You need credibility, honesty, integrity, etc to be successful as an advisor. MLM destroys that.

No sane, rational working or retired wealthy person who is or was a doctor, lawyer, oilman, executive, etc is going to give their millions to a rep at MLM financial services firm. And none of them are going to have any interest in quitting their high paying jobs or getting out of their comfortable rocking chairs to be part of your MLM hustle.

You'll basically be limited to investors with limited funds, and spend most of your time actually trying to hustle others to work under you as advisors. Nobody who is successful in their current career will want to quit to do such a thing for Primerica.

And MLM in general doesn't work at all for most, and only works very well for very few - mainly those at the top of the pyramid.

Primerica advisors are the laughing stock of the industry. You'll actually be less marketable to any legit firm after you've left them - and you almost certainly will sooner or later.

You'll be much better off trying to get on with a bank or a major firm like Merrill Lynch, Wells Fargo, JPM, etc. You'll get a salary for several years, have all expenses paid, etc. Avoid Primerica like the plague. And Ed Jones isn't much better.

Feel free to PM me if you'd like. I'm pretty busy during the week, but I'm usually online for an hour or 2 a day on the weekends.

I have to disagree.  Primerica is MLM somewhat but it provides free training and paid for him to pass the financial licensing tests.   I know one person who signed up for it, got licensed and then went to work for Edward Jones.  Because he was already licensed and knew how to do the job, he was able to set up his own place and didn't have to go around knocking on doors as a grunt.

In life, it doesn't matter where you come from....its where you end up.

[2Thick]

I have to disagree.  Primerica is MLM somewhat but it provides free training and paid for him to pass the financial licensing tests.   I know one person who signed up for it, got licensed and then went to work for Edward Jones.  Because he was already licensed and knew how to do the job, he was able to set up his own place and didn't have to go around knocking on doors as a grunt.

In life, it doesn't matter where you come from....its where you end up.

From what I've been told, that company does not pay for the tests - the agents themselves must pay. Either way, that's a minor concern.

They are on straight commission right away, must pay their own expenses, and most importantly of all are not working for a legit firm.

Any firm you sign on with will have you sign an employment contract with strings attached for a certain period of time. Usually those strings can be cut with a few bucks paid. Primerica's strings are far more restrictive from what I've been told, and make it very hard for one to continue as a rep with other firms.

And no hiring manager I know for any reputable firm will be thrilled to take on MLM hucksters, any more than they would be enthusiastic about hiring used car salesmen. Ed Jones is a joke themselves - behind the times with their upfront transactional fee platform, and not suited to larger investors. You make money gathering assets. You make more money gathering more assets. Your life as an advisor is much better if you have a dozen clients with ten million each than if you have a thousand clients with a few grand each.

And it's also much, much easier if you're able to put clients into a managed money platform that doesn't charge them a big upfront fee, and costs them only a little a year - and continues to pay you a little a year... as opposed to the one single big upfront onetime fee you get when you invest client money at Jones or Primerica... you then have to go out and constantly try to get more and more clients - and also more and more suckers to try to work under you as advisors if you're with Primerica.

Primerica will only get you a Series 6 and an insurance license. You need at least a Series 7 and a 66 to be able to be a full-service advisor, and you also need the 66 to become an IA, which allows you to run the managed money, as opposed to the transactional onetime upfront stuff that turns people off and only pays you once.

There are no doubt a small percentage of successes in the Jones company history, and even a few Primerica successes. But it will likely be much, much harder with Jones and especially with Primerica. And if you go to work for Primerica and manage to make it, you'd better learn to like it. Because you won't likely be seen as a viable candidate with a real firm, and you may find it very hard to cut the strings.

It's a very tough business anyway for most. No sense making it any harder by signing on with companies behind the times and doing the MLM garbage. People with money don't fool with MLM.

Most people who try don't make it. Being born into money and being connected help. Otherwise, being willing and able to work hard, and knowing how to find the money and get them to trust you enough to give you some or all of it are what it will take. It's generally easier in larger cities because of the large numbers of people with money in most large cities.

I've been in the biz 11 years. Started at a large bank, moved on to a large firm, then eventually set up my own private fund. I manage over $100 mil in assets total from a small number of accredited investors - all of my investors these days have a minimum of 1 mil in assets - quite a bit more in most cases.


http://www.consumeraffairs.com/employment/primerica.html

[njflex]

From what I've been told, that company does not pay for the tests - the agents themselves must pay. Either way, that's a minor concern.

They are on straight commission right away, must pay their own expenses, and most importantly of all are not working for a legit firm.

Any firm you sign on with will have you sign an employment contract with strings attached for a certain period of time. Usually those strings can be cut with a few bucks paid. Primerica's strings are far more restrictive from what I've been told, and make it very hard for one to continue as a rep with other firms.

And no hiring manager I know for any reputable firm will be thrilled to take on MLM hucksters, any more than they would be enthusiastic about hiring used car salesmen. Ed Jones is a joke themselves - behind the times with their upfront transactional fee platform, and not suited to larger investors. You make money gathering assets. You make more money gathering more assets. Your life as an advisor is much better if you have a dozen clients with ten million each than if you have a thousand clients with a few grand each.

And it's also much, much easier if you're able to put clients into a managed money platform that doesn't charge them a big upfront fee, and costs them only a little a year - and continues to pay you a little a year... as opposed to the one single big upfront onetime fee you get when you invest client money at Jones or Primerica... you then have to go out and constantly try to get more and more clients - and also more and more suckers to try to work under you as advisors if you're with Primerica.

Primerica will only get you a Series 6 and an insurance license. You need at least a Series 7 and a 66 to be able to be a full-service advisor, and you also need the 66 to become an IA, which allows you to run the managed money, as opposed to the transactional onetime upfront stuff that turns people off and only pays you once.

There are no doubt a small percentage of successes in the Jones company history, and even a few Primerica successes. But it will likely be much, much harder with Jones and especially with Primerica. And if you go to work for Primerica and manage to make it, you'd better learn to like it. Because you won't likely be seen as a viable candidate with a real firm, and you may find it very hard to cut the strings.

It's a very tough business anyway for most. No sense making it any harder by signing on with companies behind the times and doing the MLM garbage. People with money don't fool with MLM.

Most people who try don't make it. Being born into money and being connected help. Otherwise, being willing and able to work hard, and knowing how to find the money and get them to trust you enough to give you some or all of it are what it will take. It's generally easier in larger cities because of the large numbers of people with money in most large cities.

I've been in the biz 11 years. Started at a large bank, moved on to a large firm, then eventually set up my own private fund. I manage over $100 mil in assets total from a small number of accredited investors - all of my investors these days have a minimum of 1 mil in assets - quite a bit more in most cases.


http://www.consumeraffairs.com/employment/primerica.html

'boiler room' scenario great movie...

[2Thick]

When I say "legit", I don't really mean in the technical legal sense.

I mean that most people, and pretty much all wealthy people, and everyone else in the industry sees you as a joke.

If you can make it long enough at a big firm to manage to bring in at least 50-100 mil in assets eventually, you'll be making a very comfortable living well into 6 figures, and not have to continue prospecting at that point. If you're independent and managing low 9 figures of assets, you're likely making at or near 7 figures, more or less.

It's much easier to achieve these difficult goals at a good firm than at places like Primerica and Jones. Of course if your family is full of billionaires who are willing to throw hundreds of millions at you right away, it won't really matter where you work. Most of us weren't so lucky though.

[Vince G, CSN MFT]

From what I've been told, that company does not pay for the tests - the agents themselves must pay. Either way, that's a minor concern.

They are on straight commission right away, must pay their own expenses, and most importantly of all are not working for a legit firm.

Any firm you sign on with will have you sign an employment contract with strings attached for a certain period of time. Usually those strings can be cut with a few bucks paid. Primerica's strings are far more restrictive from what I've been told, and make it very hard for one to continue as a rep with other firms.

And no hiring manager I know for any reputable firm will be thrilled to take on MLM hucksters, any more than they would be enthusiastic about hiring used car salesmen. Ed Jones is a joke themselves - behind the times with their upfront transactional fee platform, and not suited to larger investors. You make money gathering assets. You make more money gathering more assets. Your life as an advisor is much better if you have a dozen clients with ten million each than if you have a thousand clients with a few grand each.

And it's also much, much easier if you're able to put clients into a managed money platform that doesn't charge them a big upfront fee, and costs them only a little a year - and continues to pay you a little a year... as opposed to the one single big upfront onetime fee you get when you invest client money at Jones or Primerica... you then have to go out and constantly try to get more and more clients - and also more and more suckers to try to work under you as advisors if you're with Primerica.

Primerica will only get you a Series 6 and an insurance license. You need at least a Series 7 and a 66 to be able to be a full-service advisor, and you also need the 66 to become an IA, which allows you to run the managed money, as opposed to the transactional onetime upfront stuff that turns people off and only pays you once.

There are no doubt a small percentage of successes in the Jones company history, and even a few Primerica successes. But it will likely be much, much harder with Jones and especially with Primerica. And if you go to work for Primerica and manage to make it, you'd better learn to like it. Because you won't likely be seen as a viable candidate with a real firm, and you may find it very hard to cut the strings.

It's a very tough business anyway for most. No sense making it any harder by signing on with companies behind the times and doing the MLM garbage. People with money don't fool with MLM.

Most people who try don't make it. Being born into money and being connected help. Otherwise, being willing and able to work hard, and knowing how to find the money and get them to trust you enough to give you some or all of it are what it will take. It's generally easier in larger cities because of the large numbers of people with money in most large cities.

I've been in the biz 11 years. Started at a large bank, moved on to a large firm, then eventually set up my own private fund. I manage over $100 mil in assets total from a small number of accredited investors - all of my investors these days have a minimum of 1 mil in assets - quite a bit more in most cases.


http://www.consumeraffairs.com/employment/primerica.html

He got his sponsor to pay for the tests....and then he left.  

[Pray_4_War]

MLM is a scam.  It's a monster with many faces, but it's all the same line of bullshit.

[njflex]

not this company or scenario,but any ad or job inquiry that states'no experience,all inquiries qualified,no sales experience needed,top $$$$ paid'your getting into the low end of how to make a living.

[Carlton G. Long]

'boiler room' scenario great movie...

the scenes in the office were great, especially Vin Diesel working that doctor

the commentary was crap ("white boy version of slinging crack rock...oh, brother)...the subplot with the illegal casino and the dad was crap...not only Seth, but previously Greg tapping that fine chocolate booty was complete unbelievable

but worse of all was that "richie" was some sort of tough guy who beat up everyone in the movie he argued with...except for the ankle grabbers he argued with at the restaurant and apparently he got completely punked out

[njflex]

the scenes in the office were great, especially Vin Diesel working that doctor

the commentary was crap ("white boy version of slinging crack rock...oh, brother)...the subplot with the illegal casino and the dad was crap...not only Seth, but previously Greg tapping that fine chocolate booty was complete unbelievable

but worse of all was that "richie" was some sort of tough guy who beat up everyone in the movie he argued with...except for the ankle grabbers he argued with at the restaurant and apparently he got completely punked out

yes it was 'wall street'and 'wolf of wall street'lite in terms of script/dialogue,,glen garry glenn ross is till a gem too...

[Nirvana]

"the person above me drives a Bentley"

[forillagorilla]

He got his sponsor to pay for the tests....and then he left.  

Typical leftist..  Let others pay.. The fact that you find what your friend did to be "funny" - is why you've not had any real success...  Vince - I would never tell you to give up - but you need to make some changes.

[Vince G, CSN MFT]

Typical leftist..  Let others pay.. The fact that you find what your friend did to be "funny" - is why you've not had any real success...  Vince - I would never tell you to give up - but

One dirty little secret about network marketing is that some people who are quite wealthy to sell will actually pay some or all of your sign up and membership fees to join their team.  They do that in order to advance through the organization and get higher commissions on their returns.

Its just business.

[wes]

You should never talk to people during your workout.


Let this Pyramid shit be a lesson for you.


TRAIN HARD!! 

[Vince G, CSN MFT]

You should never talk to people during your workout.


Let this Pyramid shit be a lesson for you.


TRAIN HARD!!  

Wes, I can explain to you or anyone in one paragraph how you can make good money selling product in any network marketing business that sells supplements.  Its a dirty tactic and the companies will terminate you if you should be caught but it works pretty damn well.

I did it last year and got busted but not before I sold a little over 5k of products in 2 weeks.

[Primemuscle]

I was approached by a woman while working out. She complimented me on my physique and then started to make small talk about talking to me further about working for Primerica. I said to her that I was interested in getting back into the corporate world thinking that is what this job was... she stopped me and said "Why work for someone else when you can work for yourself".

They invited me to this little orientation, where agents came up and basically talked about what primerica do and how they climbed the ladder and got to where they are now, financially, which I basically heard already in the sit down with my coworker and his wife. During this orientation, in the back of my mind I was thinking "this is too good to be true" everything just sounded too perfect. Everyone there had this fake "I'm so happy to be in primerica" attitude that it was contagious and I haven't even joined yet lol.

She was vague and when I asked her what is it that this job entailed she said "getting people to save money for their future". Now I know better and will avoid her phone call at all costs. I can't be bothered with pyramid type sales jobs.

I thought it was like Amway or Avon, but with insurance. I would really like to get my insurance and brokerage license and help people get insurance and saving. But I don't feel like I can trust this person I gave those numbers and was confident that we would call them together and he took it upon himself to call them on his, own my family. I'm not very happy and you know I learned nothing of what was the products so, just a lot of scribbling on paper. I don't guess I'll be going back anymore. Sounded so cool

Has anybody here ever tried it?

At least if you work for Mary Kay and sell enough, you'll get a pink Cadillac.

[Slik]

Primerica. Jesus H. Are u kidding me? What a fucking joke. I could never work selling something I wouldn't buy myself. Who in the hell besides the uninformed and ignorant invest w primerica?

[Vince G, CSN MFT]

At least if you work for Mary Kay and sell enough, you'll get a pink Cadillac.

Nope, you have to RECRUIT A LOT OF PEOPLE to get the caddie

[Primemuscle]

Nope, you have to RECRUIT A LOT OF PEOPLE to get the caddie

Good to know. I not really into Caddie's anyway. So it's all good.

[Vince G, CSN MFT]

Good to know. I not really into Caddie's anyway. So it's all good.

yea...also, its actually a car lease.  After the lease, if the distributor doesn't buy it then it is repainted black and sold.