You Better Want to sell Penn Mutual Life Insurance
Financial Advisor (Former Employee) – Bellevue – September 18, 2018
If you want to sell Penn Mutual Life Insurance or annuities you will do great. If you want to advise on investments, then you better bring in tens of millions of dollars of investments quickly if you want to stay in the business.
PCRG does provide training to sell life insurance and the basics of financial planning. However, you better be ready to sell a ton of it. There is a 50/50 split with PCRG and if you work with another advisor, then it ends up being a 50/25/25 split.
With investments, the commissions go through the "grid." This means the first few million dollars of investments you end up getting 20% of the commissions that come in. If you work with another advisor, that means 10%.
Management is really setup to use new advisors to sell to Penn Mutual insurance to friends and families and then when the advisor decides to move on, they take those clients for themselves. That is the real way that management brings on new clients.
There are lots of people recently out of school, so it makes it kind of like a frat party with lots of goofing around instead of trying to get work done. If you like the above information, then it may be the right place for you.
There is a small salary to help you get started for the first 2 years, but after that it is all commission.