Dont know why there is so much wrong information about NMFN out here, but for the last time: We are not pushed to contact friends and family, not limited to northwestern insurance and not limited to one type of funds. Others are prohibited from selling our products but we have no such restrictions from selling theirs.

[quote=trisyn]

Dont know why there is so much wrong information about NMFN out here, but for the last time: We are not pushed to contact friends and family, not limited to northwestern insurance and not limited to one type of funds. Others are prohibited from selling our products but we have no such restrictions from selling theirs.

[/quote]

Technically, your contract states that you must use Northwestern Products first and only if the insured comes back rated can you place outside business.

trisyn, Read your contract.    You really have to justify using outside companies.  Companies like MassMutual give you much more freedom.

ExProp - I understand marketing, but how do you reel in contacts at MM w/o using friends and family? Also, do you have an exit strategy for going indy one day? How long-term is your obligation to MM.

I ask so many questions because I am a younger guy doing an internship with MM and can sign the 3-year contract next month. I am just trying to get another perspective on the company.

No one is going to make you call on your friends and family.  That being said, I'll give you 3 important reasons to call on them.

1) The work that you do is important.  Don't you want to help the ones who you care about the most? 

2) Friends who become clients ALWAYS become better friends. 

3) Your F & F are in the best position to refer you to others.

There are definite appropriate and inappropriate ways to contact F & F.

[quote=Closer]ExProp - I understand marketing, but how do you reel in contacts at MM w/o using friends and family? Also, do you have an exit strategy for going indy one day? How long-term is your obligation to MM.

I ask so many questions because I am a younger guy doing an internship with MM and can sign the 3-year contract next month. I am just trying to get another perspective on the company. [/quote]

Everyone in the office has a different approach, some DO market to friends and family, some cold call, some use telemarketing leads, some (like myself) prefer to do joint work for the time being. I get my team leader in front of HNW people and he closes them, 50% of something is better than 100% of nothing in my view.  It all boils down to personal preference.  It's not that I refuse to market to friends and family I just prefer to do that later down the road.  I don't want to rely on that because you only have so many family members and friends and once you go through those if you havent learned how to prospect you're gone anyway.

The thing I like about Mass is that we can sell Mass products and be W-2 or we can sell any other company and get 1099'ed, so we get the benefits of both employee and independent contractor, just depends on how you want to build your business.

My exit strategy when I want to be truly independent I file some paperwork and I move from a career to a brokerage contract and take all my clients with me without any ACATs or the other agents sniping my business, a BIG reason I went with MM.

okay maybe I havent read my contract word for word, but i guess most in my office havent either or chose to ignore it because it happens quite often (most often when our term products are a little pricier than others)

[quote=trisyn]okay maybe I havent read my contract word for word, but i guess most in my office havent either or chose to ignore it because it happens quite often (most often when our term products are a little pricier than others)[/quote]

I think it comes down to you indiviidaul Managing Partner and how much of a stickler he/she wants to be. Again, it is all about the office you find yourself in.

Have you thought about having a DBA? Might help you get into some otherwise closed doors.

I hope things are going well for you.