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Started By
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Looking for a new career and appreciate respondes...
Posted on 3/1/24 at 11:58 am
Posted on 3/1/24 at 11:58 am
I have been in the investment industry in one form or another for my entire career - mutual funds, banks, fintech currently and can't imagine doing this for the rest of my life. I make a great living and WFH, but no interest anymore and bored as hell ... I am not complaining because I know am fortunate. I feel like in the second half of my career I need a challenge, do not want a ceiling with salary, and love the idea of building something while helping people.
All that said, I have been investigating insurance sales - primarily life and health. Reasons being is I like the idea of being an independent broker, being able to help people, and earning potential. Early on I had numerous offers to be in investment sales, but one of my early lessons in this industry is very few people need securities sold to them with the emergence of ETFs - the whole setup never felt great to me. Had all my licenses, but decided to work on trading desks and saw how the sausage was really made. Obviously, insurance gets a bad rap, but I would argue needs for those products any day over stock or MF sales.
I know there will be a financial investment and will have to grind, but that is what I want now my children are older. I have the potential to keep my fintech job (WFH and flexible hours) and do this on the side to start - hours would stack up obviously. My personality has always put people at ease and can usually connect to anyone I try with - my background should increase and help add credibility.
Anyone with experience have any advice?
All that said, I have been investigating insurance sales - primarily life and health. Reasons being is I like the idea of being an independent broker, being able to help people, and earning potential. Early on I had numerous offers to be in investment sales, but one of my early lessons in this industry is very few people need securities sold to them with the emergence of ETFs - the whole setup never felt great to me. Had all my licenses, but decided to work on trading desks and saw how the sausage was really made. Obviously, insurance gets a bad rap, but I would argue needs for those products any day over stock or MF sales.
I know there will be a financial investment and will have to grind, but that is what I want now my children are older. I have the potential to keep my fintech job (WFH and flexible hours) and do this on the side to start - hours would stack up obviously. My personality has always put people at ease and can usually connect to anyone I try with - my background should increase and help add credibility.
Anyone with experience have any advice?
5
Posted on 3/1/24 at 10:47 pm to geauxdroddz
Wherever you go you don't want to be captive.
Posted on 3/3/24 at 7:50 am to geauxdroddz
Teach finance at a school. School systems are begging for qualified teachers. May have to get a few certs though.
To teach at a college or university, you would most likely need an MBA.
To teach at a college or university, you would most likely need an MBA.
Posted on 3/3/24 at 7:58 am to geauxdroddz
You sound like you have perfected your skills in Calculated Insincere Speech. Consider politics 
Posted on 3/3/24 at 8:07 am to geauxdroddz
With all that drivel, you should work in hr or compliance.
Posted on 3/3/24 at 11:31 pm to geauxdroddz
Geez, rough crowd. Maybe you want to start off working part time at an insurance office to learn the ropes. You may find you don’t like the job at all too before you go all in.
Posted on 3/4/24 at 5:53 am to Drizzt
I am a 25 year banker and kind of in the same mindset as you, but probably a little older at almost 51. My advice - steer clear of insurance especially right now. I thought that was a good path and good “out” for years.
Looked at captive, looked at Indy. Ultimately decided to start an indy one part time on the side just to get a taste of it. Man, I was glad I didn’t go cold turkey and jump in full time. The industry is an absolute mess right now. It’s 1000% tougher all the way around than I thought it would be etc etc. The learning curve is also much steeper than I thought too. Every single carrier has different nuances, products they like etc etc. Obviously if you go captive that shrinks the learning curve a bit.
Now certainly there are some super stars that have started up this year and done well. You can also argue that I didn’t jump in full time or half assed it, fair points. I would just watch out for all the captive recruiters, especially big red, as they will show you proforma’s that, in my opinion, are absolutely unattainable.
Looked at captive, looked at Indy. Ultimately decided to start an indy one part time on the side just to get a taste of it. Man, I was glad I didn’t go cold turkey and jump in full time. The industry is an absolute mess right now. It’s 1000% tougher all the way around than I thought it would be etc etc. The learning curve is also much steeper than I thought too. Every single carrier has different nuances, products they like etc etc. Obviously if you go captive that shrinks the learning curve a bit.
Now certainly there are some super stars that have started up this year and done well. You can also argue that I didn’t jump in full time or half assed it, fair points. I would just watch out for all the captive recruiters, especially big red, as they will show you proforma’s that, in my opinion, are absolutely unattainable.
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