Emerald Financial Resources

www.emeraldfinancialresources.com
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Emerald Financial Resources Reviews

Updated December 24, 2014
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4.0
11 Reviews
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Recommend to a friend
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Micheal Vesuvio
10 Ratings

Employee Reviews

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  1. Growing company with a lot of opportunity!

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

    I have been working at Emerald Financial Resources full-time (less than a year)

    Pros

    Compensation, Work Life Balance, Culture, Opportunities for Growth, Training, Leadership, Multiple locations to work from.

    Cons

    Interview Process was a little longer than I expected.

    Recommends
    Positive Outlook
    Approves of CEO
  2. Intern

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Intern - Intern in Piscataway, NJ
    Current Intern - Intern in Piscataway, NJ

    I have been working at Emerald Financial Resources as an intern (less than a year)

    Pros

    Gained a lot of experience. What you learn here will set you up for the real world and is the best way to get a sense of what it is like to work in a real finance firm!

    Cons

    Hard work. Although well with it. Your first few weeks will be tough, but if you can't adjust to it, then this is not the right job for you.

    Advice to ManagementAdvice

    Keep up the good work.

    Recommends
    Neutral Outlook
    Approves of CEO
  3. No wonder it was rated one of the best companies to work for!

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Financial Services Professional in Bridgewater, NJ
    Current Employee - Financial Services Professional in Bridgewater, NJ

    I have been working at Emerald Financial Resources full-time (more than 5 years)

    Pros

    - Income potential: If you can sell, and sell well, you can make a very generous living
    - Staff: the staff at Emerald is very professional and effective in assisting the salesmen with anything they need
    - Environment: the office environment is friendly, healthy and competitive
    - Michael Vesuvio and Michael Trabucco are great leaders

    Cons

    - This business is difficult. In order to make tons of money one must be very dedicated to his or her job. This is not really a con, but to unmotivated people it may be.

    Advice to ManagementAdvice

    More complete hiring process to make sure only driven prospects are hired.

    Recommends
    Positive Outlook
    Approves of CEO
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  5. Great place to work and great opportunity

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

    I have been working at Emerald Financial Resources (less than a year)

    Pros

    Plain and simple, this company is an amazing opportunity to make a lot of money in a great work environment. The people are very friendly and all work together, you'll notice that even the salesmen who have more expirience will take the time to advise younger salesmen just to help them get the ball rolling.There is a lot of potential in this job to make money and to keep improving, and there is always the opportunity to do so.

    Cons

    It is hard work to make a lot of sales, but it is certainly a fair ratio of hard work to success.

    Advice to ManagementAdvice

    There is nothing I would change

    Recommends
    Positive Outlook
    Approves of CEO
  6. You will get out of it what you put into it

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Financial Services Professional in Clifton, NJ
    Current Employee - Financial Services Professional in Clifton, NJ

    I have been working at Emerald Financial Resources full-time (more than 3 years)

    Pros

    This company definitely isnt for everyone. Unfortunately, many people think that getting into sales is an easy position. They love the positives, unlimited earing potential, making your own hours, and ultimately running your own business. But when people do not do the necessary things to become successful they blame everyone else. When I transitioned out of the stock brokerage business, Emerald Financial Resources promised me that they would educate me and teach me how to build a successful practice. I have been with Emerald for 3 years and can honestly say that they have followed through with it. It upsets me to see people speak negatively about Emerald when the reason they failed is because of themselves and nobody else. I highly recommend this firm to anyone who is motivated and is passionate about helping people grow and protect wealth. If you are looking for a "salary" then you should go look for employment somewhere else. Michael Vesuvio and Michael Trabucco have been honest and followed through with everything they promised and would not want to work for anybody else. Michael Vesuvio invests his time and money in his financial advisors and is always looking for ways to help us develop.

    Cons

    You will need to work harder then you ever have in your life in the beginning so you can build your practice. If you are not motivated, you will fail.

    Advice to ManagementAdvice

    I would recommend being pickier with who is hired so unmotivated and classless people cannot tarnish the Emerald name.

    Recommends
    Positive Outlook
    Approves of CEO
  7. My career is what I make of it

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Director of Business Development in Bridgewater, NJ
    Current Employee - Director of Business Development in Bridgewater, NJ

    I have been working at Emerald Financial Resources full-time (more than 5 years)

    Pros

    Emerlad has a very supportive model backed by a strong company for those interested in becoming a Financial Services Professional.

    Cons

    It is a challenging career that isn't the right fit for everyone.

    Advice to ManagementAdvice

    I began with MassMutual at the Levin Financial Group in Tampa, FL in 2005 and continued with the company working for Emerald Financial Resources since 2009. I have been in a managment role in both organizations and have worked with many of our Financial Representatives introducing them to the career and then training them in areas to help them develop successful practices. In reading the reviews, I see those who are experiencing success and those who failed and/or quit the career. Most of the time if the management finds that the career is not a good fit for the associate, we will recommend that they find a more suitable career. In some instances, associates leave and place blame on us rather than looking at their shortcomings; this is a career that requires hard work, determination and lots of persistence. Those who state they were mislead in the selection process did not listen to the recruiters and managers and did not read the documentation that was given to them to sign during the recruiting process. It is very costly in fees and staff labor hours to recruit and on board new associates therefore it would be extremely counterproductive for us to lie to people to get them to join us when we know they would only quit. We have a rigorous hiring process and our documentation shows any and all fees that the associates may or may not incur, we tell them that they are starting a business for themselves with our support. Associates who begin on a Contract B have no office fees or E&O (practice liability insurance) expenses until they meet their sales goal to begin a Full Time Career Contract which can take anywhere from 3 weeks to 4 months. Once Full-Time, as long as they are on track with our Rising Leaders goals, the expenses are waived except for their E&O coverage and their subsidized health insurance benefits costs. Emerald Financial Resources is a reputable company that cares about and treats our associates fairly and does a lot of good work in our community through the products that we deliver to our clients and our charitable work. We hold many fun events per year that includes the attendance of associates family members which creates a great culture for our team. Its because of these things that we were recognized as one of NJ's Best Places to Work in 2011 and 2012.
    For those interested in looking at a career in the Financial Services Industry, please do not take value in the opinions of a couple of disgruntled ex associates. We have close to 100 associates, most of whom are extremely satisfied with the opportunity that Emerald offers them. We welcome you to speak with us and make determination for yourself.

    Recommends
    Positive Outlook
    Approves of CEO
  8. 2 people found this helpful

    “Be Very Careful...”

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Contractor - Financial Services Professional in Bridgewater, NJ
    Former Contractor - Financial Services Professional in Bridgewater, NJ

    I worked at Emerald Financial Resources as a contractor

    Pros

    Wish I had an answer...None

    Cons

    The biggest downside I experienced while working at Emerald was the lack of guidance or direction from my sales manager.

    You work for General Agents (GA's), who control your comp at "GA discretion". You'll hear this term a lot. They can change the rules whenever it suits them. I've seen this happen with reps and managers. The bonuses (known as financing) are described as a given in the interview process, but in reality can be denied or taken away at any time for any reason. The rules can be punitive in nature. Ask for the financing plan in writing. You probably won't get it.

    Weak product line and compensation model that makes it very difficult to earn at a high level. Company and GA's are only interested in reps selling whole life insurance. They are fanatical about this. MassMutual has abandoned the annuity business completely. Some GA's will discourage new reps from becoming securities licensed in order to force more whole life sales.

    In my experience, there is no support other than good initial training. You will never get a lead and you will never see one cent spent on marketing. Management stays in the office and will not help generate activity. The management views the reps...as a necessary evil. There are other companies with more predictable comp plans and better product lines that will allow you a better chance in a difficult career. YOUR EXPERIENCE WILL VARY WITH DIFFERENT GA'S. I recommend interviewing with all GA's in your area...there are likely to be many (100 in the NJ area).

    Advice to ManagementAdvice

    Stop the 'pasta attitude'. Through a bunch against the wall and see what little can stick.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  9. 2 people found this helpful

    80's Car Salespeople Approach/ Mentality.
    Bottom of the Barrel of the financial industry.

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

    I worked at Emerald Financial Resources

    Pros

    Very sad to say but NONE

    Cons

    The sell the job as a commission + salary + bonus. You don't start out with a "salary" until at least 3-4 months into the job because you have to earn your career contract first, which is not too hard to do. After your contract is awarded management decides if you should start on their financing/salary plan and if you are lucky enough to get the salary it can be taken away from you at anytime they want too. Also, the amount of the salary decreases each quarter no matter what your sales are like. It starts out around $500 a week and has huge drops the first few decreases. With the expenses you are require to pay, in my case monthly charges were $120 monthly rent, $14 for a phone on your desk, $190 for E&O insurance, any copies and printing you make, long distance calls, $116 for required training, and if you didn't hit you quarterly numbers you would be charged accordingly (the further you were from hitting them the more you got charged). So the salary/financing plan barely pays for those expenses the first few months then doesn't even cover them afterwards. They automatically take everything you owe out of your check, so if you owe more than what your check is you will get a negative pay check. For example, especially starting out you may go a few months without getting your first pay check but by then you already owe the company $700 in charges but your check is only for $650, congrats you get a statement showing you still owe them $50 and no check to you. And then the charges carry to the next month, so you are already behind again. Through the interview process they make it sound so easy to achieve big paychecks and they pride themselves on offering investments as well. In reality not many people can afford to write big checks so you can make decent money. They require you to do joint work with experienced reps and usually split commissions and lives 50/50. If you do joint work with management you also usually have to split it 50/50 even though they already get paid whenever you sell something, so basically they are paying themselves twice. They say the average commission company wide was $600-$800, split that in half and your cut is only $300-$400. Try paying your personal expenses on that because if you are lucky you will only see 2-4 of those a month, and that's the high end of things. A lot of people who want insurance simply can't qualify for it so you just put in a ton of effort to get absolutely nothing out of it and you don't find out that they can't get it until at least a month later after everything has gone through underwriting. You get absolutely no benefits unless you pay for them yourself and you will not get a company match on your 401K until you hit $66k, which only people that have been around for years and years get that consistently. Around 5% of new people actually are able to achieve that their first few years. If you quit while you still owe the company they will turn you over to a collections agency if you don't pay them. They also say that there employee turnover rate is lower than anywhere else but they bring in new groups of 5-12 people each quarter and by years end each group only has 0-3 people left. If you are thinking about joining this company or any other financial service company take this to heart and really think about it first. They are insurance salesman, they will tell you anything to get on board. If you really want to take this job get in with a good company like Mass Mutual, Northwestern Mutual, Guardian, or New York Life, learn the products and how to be successful then move to a broker status/independent.

    Advice to ManagementAdvice

    College kids are the future of our country...

    Doesn't Recommend
    Negative Outlook
  10. Build a Career that you can own

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

    I have been working at Emerald Financial Resources full-time

    Pros

    If you are looking for a career that you can have complete control over in a short few years this is it. Where else can you go and invest little to no money to get started and have a business that you can earn as much money as you want and have all the flexabilty that you and your family needs? Yes it is very hard in the begining but if you follow all of the systems that have been put in place and have been tested for over 25 years with success then you can't fail. You are an independent contractor with all of the support, training, coaching , benefits and guidence that one could possibly need or want.The managent team works night and day to help you succeed, they will talke money out of their pocket, time out of their days and nights away from their families week days or weekends to help you succeed. You cannot ask for more. If you have an entrepreneurial drive and are motivated to succeed and enjoy making an impact on other peoples lives, business or families then this is the right career for you.

    Cons

    This career is difficult to get started but what worth doing is not? It is like a train, it takes a lot of energy to get it up and running but once it is moving it cannot be stopped. You will need to go outside your comfort zone but once you have the systems down it becomes just part of your day.

    Advice to ManagementAdvice

    The management team should be tougher on its people in the begining to formulate better habbits in the agents from the get go.

    Recommends
    Positive Outlook
    Approves of CEO
  11. Great Place to work if you want a Career!

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

    I have been working at Emerald Financial Resources full-time (more than 5 years)

    Pros

    great people
    friendly environment
    high level of professionalism
    strong training program
    compensation and benefits program is outstanding for the industry!

    It's exciting to get up and go to an office where you enjoy working with the people around you. But also knowing that you always have the opportunity to learn more, grow professionally, grow financially and that your management always encourages that growth and is willing to help you.

    Cons

    not all representatives follow coaching and instructions... but they should, It works!

    Advice to ManagementAdvice

    Managers work hard to help their representatives, keep up the great work!

    Recommends
    Positive Outlook
    Approves of CEO

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