First Investors Corporation

  www.firstinvestors.com
  www.firstinvestors.com
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First Investors Corporation Reviews

Updated August 6, 2014
Updated August 6, 2014
178 Reviews
3.9
178 Reviews
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First Investors Corporation President & CEO Bill Lipkus
Bill Lipkus
38 Ratings

Review Highlights

Pros
  • New Training Program: It used to be straight commission, but has since changed to a base (in 17 reviews)

  • Good internship where I learned much about the Financial Services Industry (in 7 reviews)


Cons
  • No benefits because you're an independent contractor (in 17 reviews)

  • You have to sell to your friends and family which is not the best feeling (in 9 reviews)

More Highlights

44 Employee Reviews Back to all reviews

Sort: Popular Rating Date
  1. 1 person found this helpful  

    A decent place to work until you look at similar firms

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Registered Representative  in  Richmond, VA
    Former Employee - Registered Representative in Richmond, VA

    I worked at First Investors Corporation full-time for less than a year

    Pros

    Some of the best training in the industry, you start with a base hourly rate, great support from local management. The company is trying SO hard to head in a great direction, but being an older firm a lot of people just aren't on board.

    Cons

    If you're a very independent person who's used to being self employed there's way too much management. I listed the same thing as a PRO above, it's really just whatever you're looking for. The technology you use is incredibly dated, and the upper management try to manage through threats. The product line is not competitively priced (insurance is really pricey, you'll never win a client who's shopping you on price. Funds are on the high side as well.) and not very diverse. There's an overall culture of a lack of trust and and this "everything is an uphill battle" mentality that's hard to shake when you're required to be in the office too much of the week due to unnecessary meetings. The pay is competitive and they talk a big game about how they're the only ones to support their reps like they do. If you shop around though you'll find better offers elsewhere.

    Advice to ManagementAdvice

    Maybe have 2 different new hire tracks. One with straight commission and have the training be optional, another with the hourly base, hand holding,

    Negative Outlook
    No opinion of CEO
  2. 1 person found this helpful  

    This place is a sham-Do NOT invest your time or money.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Registered Representative  in  Fort Worth, TX
    Former Employee - Registered Representative in Fort Worth, TX

    I worked at First Investors Corporation full-time for more than a year

    Pros

    You receive great preparation for your licenses. There is flexibility in your schedule since you set your own appointments.

    Cons

    The general feel is for you to convince people to transfer their money to your care at this firm. Once you have the money-forget that client because it's on to the next. Customer service was not a priority. Also, there was no base salary-the only way you earn money is through commissions. Not many real professionals can live this way. Therefore you have many unprofessional people in this company. These young unprofessionals are often promoted to management in this company.

    Advice to ManagementAdvice

    You need better training for your reps and you need to offer a base salary-even if it is only $20k. This will bring much more success to the company. You need to stress that customer service/relations is a priority-especially when you are working with people's hard earned money.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  3.  

    Financial Advisor

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at First Investors Corporation

    Pros

    Employees are great to work with, the manager of the Broadway office in NewYork is a down to earth guy.

    Cons

    Dull working environment, plan on working weekends and around a 55 hour+ week

    Recommends
    Neutral Outlook
    Disapproves of CEO
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  5. 2 people found this helpful  

    Lofty promises, but you're on your own

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at First Investors Corporation

    Pros

    Flexible hours to plan your week.
    A lot of training and study material to help prepare and sell investments/insurance

    Cons

    Lack of any sort of upper management or leadership. If you need help, very few are willing to donate their time to help a new person. The company attracts many new talents with promises of high salary but they don't tell you that the people "mentoring" you on all your initial business get a large chunk of your commission. Be prepared to sell to your friends and family first. The employee turnover rate is extremely high.

    Advice to ManagementAdvice

    Instead of having employees who manage many other accounts try to help the new people, having someone in the office who knows the regulations and has sales experience to help new employees.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  6.  

    Ok

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at First Investors Corporation

    Pros

    Consistent Hours, that's about it

    Cons

    Micromanaging, Overbearing nosy staff members

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  7. 2 people found this helpful  

    Start your career here, but know when to move on!

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Account Representative  in  New York, NY
    Former Employee - Account Representative in New York, NY

    I worked at First Investors Corporation full-time for more than a year

    Pros

    Great study material to get you educated on investments and life insurance vehicles. The licenses you earn here are transferable to other financial service companies.

    Cons

    Management only looks out for themselves. They throw you to the wolves and only go to see the clients YOU bring in to the company if they know they will get a larger commission off of YOUR sale.

    Advice to ManagementAdvice

    Pay attention to the newbies. They are putting money into your pocket for a good chunk of time before they move up the ranks. Don't pick and choose which appointments you go to - know the value in every client and be aware that every appointment is important to a new rep.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  8. 1 person found this helpful  

    It was a good experience getting sales data, and learning to present to clients.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Financial Services Representative  in  San Jose, CA
    Former Employee - Financial Services Representative in San Jose, CA

    I worked at First Investors Corporation full-time for more than a year

    Pros

    Fun outings and lots of team building, full training provided and unlimited potential to make money

    Cons

    long work hours, 60+hours in the beginning, all commission, very difficult to make a good living

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  9. 1 person found this helpful  

    Do not work here

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Financial Services Representative  in  New York, NY
    Former Employee - Financial Services Representative in New York, NY

    I worked at First Investors Corporation as an intern for less than a year

    Pros

    This can be a stepping stone. Get licensed and move on to real companies where they actually pay..

    Cons

    Everything. No pay. Making your family the first targets.

    Advice to ManagementAdvice

    You know you have to do something about the compensation... No wonder a lot of employees leave the company to get real jobs

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  10. 1 person found this helpful  

    internship

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Intern  in  New York, NY
    Current Employee - Intern in New York, NY

    I have been working at First Investors Corporation as an intern for less than a year

    Pros

    easy to get in, hire all majors.

    Cons

    none paid position, and does not do much in the office

    Advice to ManagementAdvice

    they should provide a base salary to interns

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  11. 3 people found this helpful  

    First Investors

    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at First Investors Corporation

    Pros

    There are a lot of company events that help you to develop friendships with your coworkers.

    Cons

    There are very high expectations for your performance and limited assistance from management to help you meet those goals. The hours you are expected to work are extremely long and there is little payoff in the end. Most employees end up quitting within the first six months of working there because too much is expected of them and the only advice that the management team usually gives to you is to just keep trying.

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