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Modern Woodmen of America
Posted on 11/7/17 at 6:46 am
Posted on 11/7/17 at 6:46 am
Does anyone have any experience with Financial Planning from Modern Woodmen of America? I'm considering applying for a job with them, but I talked to some WM's I know and got a sense that they aren't taken very seriously.
2
Posted on 11/7/17 at 6:55 am to SmarterNotHarder
They don’t do financial planning. They sell annuities and life insurance.
Posted on 11/7/17 at 8:22 am to SmarterNotHarder
I am a retired insurance agent. We are NOT financial planners. We sell products that fit in your financial plan. We can help protect your family with life insurance, property insurance, health, long-term care, etc. A good agent is an asset to have, just not the only one. If you want to sell Modern Woodmen products, fine. Just go in with your eyes wide open. Note: there are some Financial Planners who are licensed to sell insurance products, but I would exercise due diligence.
This post was edited on 11/7/17 at 8:30 am
Posted on 11/7/17 at 9:05 am to dwr353
So having their own broker/dealer, calling their employees Financial Advisers, claiming Financial Planning as a service on their website...that's all just window dressing for insurance and annuity sales? That's disappointing.
Posted on 11/7/17 at 3:28 pm to SmarterNotHarder
Moreover, the products they do sell are only borderline competitive.
Posted on 11/7/17 at 3:54 pm to SmarterNotHarder
I am in no way condemning M W as a company. I am saying that anyone can claim to be Financial Planners as many states do not regulate them and the definition is subjective. In the final analysis, their main product is life insurance. I know of a company that only sells term life and they claim to be investment advisors. Ask your prospective employer if you will only provide guidance or if you will have to sell life insurance. Please update us and good luck with your career.
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