Big promises, they inflate your self of sense-worth. They will make you feel good and tell you that you can get the perfect work-life balance as a financial advisor; they are going to mentor you and help you make six figures. Oh and it gets better too.... they typically prey on just graduated college students who have very few job prospects and are desperate/hard-working. They want to put their efforts somewhere but do not know where.
I got sucked into the whole "be a financial advisor" scam from Mass Mutual about March 2013 of last year. I formerly was in auto sales, and education. I was looking to try something new and was referred by my wife to one of her friends who worked for the company. He interviewed me four times saying I gotta make sure this is for you, blah blah blah blah. In hindsight I should have known he was one of the worst snake-oil salesman I have ever met; but it was my wife's friend.
They will sponsor you for your life, health, and series 6/63. But everything else you pay for. These fees and study materials can average around 1k or more dollars overall. Pretty hard for a recent college student who now averages 80k+ in student loan debt. The hardest and most discouraging part of this job is after they build you up so much, encourage you strongly to get your licenses.... once you get all that stuff the question than becomes: "now what?"
The leads are not provided. So you are expected to go seek out your friends and family to sell life insurance, financial products, and accident/health products as well. This can get pretty awkward as although you might find these parties initially wanting to help you; when you mix business and family/friends together or any type of monetary transaction it can sour things. Mass Mutual doesn't care though. They want numbers and look at you as their new pack mule to sell their products.
You do not get paid any kind of weekly compensation so you better produce. Without a lead network to tap into, and be expected to canvass your own network or outside of it to sell you better live at home with Mom or Dad or be on section 8/welfare. Because believe me it can get expensive working for this company. I was probably about 4-5 grand when it was all said and done. They do not help you despite how much your general agent will claim they do.
