Western & Southern Life Employee Reviews about "book of business"

Updated Jul 8, 2021

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Found 23 of over 439 reviews

3.1
47%
Recommend to a Friend
43%
Approve of CEO
Western & Southern Life Chairman, President, and CEO John F. Barrett
John F. Barrett
249 Ratings
Pros
  • "The pros are the great training you receive along with great benefits(in 30 reviews)

  • "Management cares and there is a wonderful training program for new reps(in 20 reviews)

  • Cons
  • "book of business is typically low income(in 23 reviews)

  • "Not always guaranteed a salary, high turnover, and branch office can be far away(in 18 reviews)

  • More Pros and Cons
    Pros & Cons are excerpts from user reviews. They are not authored by Glassdoor.

    Reviews about "book of business"

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    1. 2.0
      Former Employee, less than 1 year

      Not a terrible place but needs a lot of work.

      Jul 8, 2021 - Registered Representative in Independence, OH
      Recommend
      CEO Approval
      Business Outlook

      Pros

      -Manager/coworkers were super nice and supportive - Learned lots and consider it great stepping stone

      Cons

      -The people you work with will probably not be there long. huge turnover rate - Are ask to give 100 names and get referrals from family and friends you better know people ready to do busy or you won't make it here - No real game plan for finding new clients and book of business is pretty bad a lot of info is incorrect -Might waste of lot time dealing with current clients and admin work for policies that clients for 30 years ago that are awful -If you don't hit your numbers lose salary even if it's by a dollar -Very confusing process for application couple times around, since manager didn't know much about the paper work side of it

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      2 people found this review helpful
    2. 3.0
      Former Employee, less than 1 year

      Must be good with Sales.

      Aug 17, 2020 - Licensed Financial Representative in Saint Louis, MO
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Flexible schedule. The work - presentations etc.

      Cons

      Unprofessional mgmt and admin Unnecessary/unproductive meetings book of business is typically low income I was lied to about the job...I wanted to do fee-based and was promised that I could get the series 66. They never offered for me to get the license and the company only had fee-based as a pilot ... trying it out.

      2 people found this review helpful
    3. 1.0
      Current Employee, less than 1 year

      Awful place to work

      Dec 1, 2019 - Financial Representative in Erie, PA
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Management is so incompetent you can spend all week at home and they won't notice or care.

      Cons

      Bait and switched in interview. Company does not do any marketing so everyone you call has no idea of the company you work for. Pay is awful. Products are terrible and overpriced and are sold to clients hoping they either wont notice or will notice and cancel their policy so the company can keep the money they spent so far. Every client you get in you book of business doesn't want to talk to you because they have had 12 advisers since they got there policy and don't want to be bothered because they know you're going to sell them something else they don't need. Management provides zero direction other than make more phone calls. You never get a break from this job because management will call and text you at all hours of the night and on the weekends. DO NOT WORK HERE THERE ARE BETTER PLACES TO BEGIN A CAREER THAT ACTUALLY HELP YOU AND WILL PAY YOU A REAL SALARY.

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      9 people found this review helpful
    4. 1.0
      Former Employee

      Hard job

      Mar 16, 2019 - Financial Services Representative 
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Can make a lot of money. Flexible schedule. You can learn a lot with the right managers.

      Cons

      Benefits were not great, they do not pay for any licensing, working the book of business is dangerous because of chargeback. Make sure you have a ton of contacts already.

      4 people found this review helpful
    5. 2.0
      Former Employee, more than 3 years

      Borderline irresponsible CEO

      Sep 19, 2018 - Financial Representative in Columbus, OH
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Lots of company events, outings.

      Cons

      Everyone who works for W&S knows the company (from the very top) is largely full of it. Big wigs feed employees with constant reminders of it's assets owned/managed, financial ratings, fortune 500 status; yet they cannot afford to provide salaries for their Financial Reps. They cannot afford to provide clients with credible leads. I was given a list of 75 cold leads, and I kid you not, 42 of them were disconnected phone numbers. Everyone just continues to play along. W&S has no "in's" with other companies. In other words, they do not work closely with any other company and its employees. This would provide a situation where FR's could reach out to the employees, with the understanding that their co-workers are invested with W&S, and start building a funnel of clients. This is something almost all good Mutual Holding companies have in place. Every day you are asked the same questions. "What are you doing this week?" "How are you acquiring clients?" For a company the size of W&S, questions of activity should never be asked. One would assume there are enough adequate resources funded by the company and questions of activity turn into questions of financial topics. A recycled book of business is not an adequate resource. Nor is it funded by the company. The 100% commission pay structure is extremely unsustainable for living , and does not bode well for personal budgeting. If you're looking to rent an apartment/house, good luck finding a rental company that will sign off on your 100% commission income. In today's age, rental companies are becoming more diligent in researching a potential tenant's income. They are requiring individuals to verify their income. The days of fibbing/estimating an amount and just writing it down are over. The commission structure could provide "competitive salary" or "unlimited income" if, again, there were enough adequate resources and tools funded by the company in place for employees. This is simply not the case with W&S. Life products are not competitively priced. Many many instances where I meet with clients, finally get down to the pricing and the response is "Well ________ is cheaper, so I think we're going to go with them" It pretty obvious why most tenured employees of W&S are anti-illustrations. 90% of the people you meet with have a list of concerns beforehand, and pricing is always near the top. Why we are heavily influenced to forgo providing illustrations to potential clients is beyond my comprehension. Why we are heavily influenced to only provide illustrations to potential clients in a follow-up meeting is very apparent. Activity, Activity, Activity. Just remember, you're still not getting paid to work on behalf of the company. For example, they just took away a program that allowed us to track our weekly commissions. I have no clue how to find it out anymore. No one has said anything. Nothing informative. Our customers are earning guaranteed minimums on their annuities, and FRs don't have answers for them. The idea of educating employees on the company's general/separate accounts seems like an inappropriate idea to the Board. Every question regarding company protocol/company operations is directed to someone else. I left the company a few weeks ago because I knew I could find somewhere better. I accepted a job with Morgan Stanley.

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      17 people found this review helpful
    6. 1.0
      Former Employee, more than 1 year

      Should have trusted the Negative Reviews I read online!

      Mar 12, 2018 - Financial Representative 
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Lots of freedom to do things outside work hours. Clerical staff is always helpful. Free Gym Membership. Free business cards.

      Cons

      The average weekly income is a lie, because they have veteran Reps that make the average higher. Newer reps struggle. Management only has a limited window to train and help you because they are constantly hiring new Reps due to large turnover rate. You pay out of pocket to be allowed to sell Group Health and Disability. Unless you exploit friends and family you will not make any money. The Book of Business you are given by management is garbage and has already been cherry picked by the tenured reps. Series-6 is a mandatory thing, not just because of company "policy", but because that is all management wants to push. They are forcing Salesforce integration company-wide, but no one knows how to properly use it...including the company trainers. Morals are preached about there, but company wants you to lie to clients to close sales.

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      10 people found this review helpful
    7. 1.0
      Former Employee, less than 1 year

      DO NOT WORK HERE IF YOU HAVE A COLLEGE DEGREE

      Jan 12, 2018 - Anonymous Employee 
      Recommend
      CEO Approval
      Business Outlook

      Pros

      there are no pros I am only writing this many words because this has a minimum word requirement to post

      Cons

      Make you come to the office even when there is nothing to do when they tell that they would not do that. Book of business has clients that you are not making money off of and you end up in the worst areas around. Sales management team is unstable. If you have a college degree you are overqualified for this job regardless of what they tell you in the interview.

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      8 people found this review helpful
    8. 3.0
      Former Employee, more than 1 year

      Financial Rep

      Aug 28, 2017 - Sales Representative in Wilmington, NC
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Good Fortune 500 company, great benefits.

      Cons

      I worked here for 2 years and really struggled financially. They are numbers driven and want you to sell, sell, sell but they provide no leads. Bug your friends and family, knock on doors, do whatever to make a sale. Unless you are bringing in a book of business, this business model is challenging.

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      5 people found this review helpful
    9. 1.0
      Former Employee

      Careful Consideration

      Apr 17, 2017 - Anonymous Employee 
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Work at your own pace. Make your Own Hours.

      Cons

      100% Commission based... minimal starting salary for first few weeks... book of business given when starting is bare and does not allow for any real income.

      2 people found this review helpful
    10. 2.0
      Former Employee

      Insurance Agent

      May 24, 2016 - Insurance Agent in High Point, NC
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Company does offer benefits and training. Decent co-workers.

      Cons

      Book of business given to you is lower income blue collar - many of which live in the projects. Training is only as good as your manager. Exclrct to write business on who you know. Expected to spend your money on projects that will generate leads. High turn over rate. Can go financially under working with company.

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      5 people found this review helpful
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