General Question

howardroark's avatar

Is the job "Northwestern Mutual Financial Advisor" a scam?

Asked by howardroark (27 points ) December 29th, 2009

I have an interview with Northwestern Mutual as a Financial Advisor. A few things are fishy, first they seem to only target people switching careers. Second, I have read some online reports that all you do is pitch their insurance solutions to friends and family. Third, it appears as though the job is 100% commissions and they have you work independently right off the bat. I know the company Northwestern Mutual is legit. But this position looks a bit sleazy. If any of you can confirm this, that would save me the ignominy of having to interview with Bill Lumberg and miss a day of work. Is it worth going to this interview?

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11 Answers

gemiwing's avatar

I can’t say what you should do. You’ll have to decide that on your own.

What I can say is in this economy it might not be your best bet. You’ll have to pay more taxes because you’ll be self-employed. I looked into this in the past and I agree with what you’re saying. Something just feels off.

Probably better to save that day off from work for a job with full benefits and full hire.

Judi's avatar

Trust your gut.

howardroark's avatar

my gut tells me its a total pyramid scheme. I Think I will be going to work tomorrow.

Haleth's avatar

In this economy it’s really rare to see any kind of job targeting people or actively recruiting people. Especially people who don’t have a lot of experience in their chosen career field. Usually when you’re looking for a job you have to be very proactive to get an interview with them. The only time an employer tried more than once to get in touch with me was a pyramid scheme. (The idea was for me to pay for a sales kit and then become an independent salesperson.) They were only calling so much because they wanted to make money off me.

NMgal's avatar

I just saw your post, I have worked for Northwestern Mutual for multiple years both in field offices and the home office. I’d be more than happy to tell you more about what the career entails and answer any questions you may have. You can reach me directly at the home office at 414–665-3366. Megan

rottenit's avatar

Its a sales job.

I would not work with NWM reps based on my personal experiences with one of them.

Bill_Lumbergh's avatar

Trust me, companies like Northwestern Mutual are 100% real, but they honestly set you up to 100% fail! This is a new “scam” that plagues college grads and desperate job seekers. DO NOT fall victim to companies like this! This link below will completely back up my claim, and please spread the word! Good luck out there!

http://www.armydiller.com/financial-scam/index.htm

galentmartin's avatar

Any job opportunity with unlimited income potential is going to be filled with risk. To work with NWM will be hard work. Your entire livelihood will depend upon your ability to setup and keep appointments relying heavily on references and calling on people that you don’t already know. It will not be easy, but nothing worth doing ever is. To call Northwestern, or any other financial/life insurance company a scam would be unfair. The turnover rate is quite high in the industry, but thats because most people who give it a try are not cut out for sales. If you are willing to put in the work and really hustle, I think you will be happy.

sno's avatar

Nwm hired me in their menlo park office in 09 as salesperson based on my high aptitude test score but fired me after missing training class. Now I’m number one sales person at a competetor. All I can say is john goodman blew it. And megan the recruiter is hott.

Holleek63's avatar

I have had the enormous privilege of working with the Northwestern Mutual as a sales representative and now in management. It is not a scam, if you do your research you will realize it is a very impressive company with an unbelievable track record. I would suggest you go through the process before making a judgment. It changed my life 12 years ago and if you are a hard working, self motivating, ethical person it could change yours too. Their training is ranked as one of the best in the industry and has one of the top ten internships in he country. Maybe you are not a fit for such an outstanding company? Interview and see…good luck.

flipper63's avatar

First this is how you usually start out selling in insurance and financial services because they would be more likely from you which is known as your soft market. Starting right out on comission only is normal for 90% of companies very few offer salaries first for about 2 years. This is really the best way to start out so if you are new to financial industry this is best way to start. I would suggest comission only at start of first day on job only for an experienced person in financial industry.

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