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In Reply to: Re: Re: Re: Primerica - Let's Have a REAL discussion posted by S.S on January 14, 2004 at 22:33:40: S.S. I hear it all the time from People at PFS that it is the only place you can own a business in financial services and everyone else is just a salesman. Here is a news flash . At PFS you never really own your own business. You do not own your customers or your sales team. The company does. Read the contract that says you can't contact for 2 years if you leave. You are totally captive to the company. I don't see why an RVP should get to cherry pick my best producers when I get promoted. His reward is to take my best people and hamstring my business and also override my base shop production. Seems a little greedy to me. I have seen replacement hurt a lot of very strong RLs when they took an RVP promotion. But those issues aside, The main reason I left PFS was because the products are not competitive in the industry and the so called advice is not the best. The Financial Needs Analysis, while a pretty good tool for savings projections and debt reduction is really designed to make a client feel uncomfortable so they will buy. And let's face it, a term policy and a mutual fund is an O.K. place to start but there is a lot more to managing a life time of money than that. Let's say your client did manage to save a substantial amount of money 30 years from now and is ready to retire. He has a couple million in his IRA. Could you at PFS tell him how to structure his disbursement of that money so as to minimize taxes and maximize income. Could you show him a way not to have his estate eaten up by taxes upon his death. NO. The reason they don't teach you that at PFS is that deep down they don't think their strategies will work for their clients so why bother with teaching the second half of the equation. I left PFS because it is Kindergarden finance and I wanted to do more than that. There are alternatives to PFS that pay better, allow you to build a book of clients and build and train a team that YOU, not the company, owns. That is totally non captive and allows you to find the absolute best mix of services for your client. That does not require replacement and allows you to become a true financial professional and resource to your clients. Feel free to e mail me if you want to know more about it.
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