Financial Services of America

www.fsa1.com
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Financial Services of America Reviews

Updated November 29, 2014
Updated November 29, 2014
41 Reviews
3.8
41 Reviews
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Financial Services of America President Richard James
Richard James
24 Ratings

Employee Reviews

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  1. 2 people found this helpful  

    This Job is Truely what you make of it

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Account Executive in Warren, MI
    Current Employee - Account Executive in Warren, MI

    I have been working at Financial Services of America full-time (less than a year)

    Pros

    I have worked for FSA for less then a year now, and I feel like I have stumbled unto a "Holy Grail' of sorts. I am now learning to become, the giving and confident, type of sales person I have wanted to become for years...I BELIEVE.

    Cons

    This is a sales organization... It is NOT for everyone.

    Advice to ManagementAdvice

    Keep up the good work

    Recommends
    Positive Outlook
    Approves of CEO
  2. 1 person found this helpful  

    Opportunity Unlimited

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Account Executive in Warren, MI
    Current Employee - Account Executive in Warren, MI

    I have been working at Financial Services of America full-time (less than a year)

    Pros

    It is very family friendly work atmosphere. It's client center approach to helping people with their financial planning is a refreshing and nice approach. Their training and development is second to none. Earning potential and position within the company is unlimited. Managers are top notch.

    Cons

    You have to be very personable and enjoy meeting and talking with new people. The job also requires a lot of driving.

    Advice to ManagementAdvice

    Keep up the good work.

    Recommends
    Positive Outlook
    Approves of CEO
  3.  

    Current Employee: Account Executive

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Account Executive in Warren, MI
    Current Employee - Account Executive in Warren, MI

    I have been working at Financial Services of America full-time (less than a year)

    Pros

    As a person who is driven to succeed in the financial services career one must be determined to learn and grow with their company. Financial Services of America provides a wide scope of products and services and a positive approach to the best interest of their clients.
    Internally, I have found a strong management team sincerely motivated to lead sales teams to their fullest potential. I have found this approach to be refreshing and creates a positive atmosphere for success. The training and mentoring of new hires, and ongoing training and continuing education to their veteran team is unparalleled in the industry.

    Cons

    Their is a salary, which is important for an individual starting in the business due to travel expenses and the nature the business. A considerable amount of time and expense on the road is required to build a business. This is to be expected and embraced as a foundation for the future.

    Recommends
    Positive Outlook
    Approves of CEO
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  5. 2 people found this helpful  

    Their way or the highway

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Account Executive in Warren, MI
    Former Employee - Account Executive in Warren, MI

    I worked at Financial Services of America full-time (less than a year)

    Pros

    Good training from the CEO.

    Cons

    Got an overall negative and evil feeling from that place. A lot of lying involved in this company. The appointment setters lie to the customers, management lies to you, customers lie to you. They want you to lie to the customers. James proclaims to be a christian but didn't see in in the company. The main focus for him is greed!!! The P & C company is set up to rob you and so is the annuity side. If you are a quality insurance professional stay away! Massive amounts of useless driving.

    Advice to ManagementAdvice

    The manager I was assigned to was useless. He would only work with me one day a week. Got the feeling that I was more a nuisance than someone he was supposed to mentor. You are a worker drone here. Don't do it if you respect yourself.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  6. 1 person found this helpful  

    Best company I have ever worked for!!

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Senior Account Executive in Warren, MI
    Current Employee - Senior Account Executive in Warren, MI

    I have been working at Financial Services of America full-time (more than 3 years)

    Pros

    This company is a family-based organization that lets me see my kids events.

    Cons

    Mileage on my car though the pay makes up for it.

    Advice to ManagementAdvice

    Keep up the good work!

    Recommends
    Positive Outlook
    Approves of CEO
  7. 1 person found this helpful  

    My Experience In Working At Financial Services Of America

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Account Executive in Warren, MI
    Current Employee - Account Executive in Warren, MI

    I have been working at Financial Services of America full-time (less than a year)

    Pros

    Working at Financial Services of America is more than a job to me, it is a rebirth into a new career that has taken me by storm. As a seasoned veteran in the sales industry I can say that I have learned more about the sales process through their training program in the past year than I have learned throughout my entire career. Their family first philosophy gives you the opportunity to set aside quality time with your family. The greatness of FSA is a reflection of CEO, owner Richard David James. His philosophy of "if you give a person more than they expect it will come back to you" has transformed FSA into an industry leading financial company that is one step ahead of the rest. Owner Richard David James whose work ethic is built upon the principles of Dale Carnegie, is the greatest man I have ever known.

    Cons

    You need to step outside your comfort zone and open your mind if want to excel at this company. I have witnessed top sales people from other industries not fulfill their potential. The opportunity to learn from top notch trainers to achieve greatness is given to you - the rest is up to you.

    Recommends
    Positive Outlook
    Approves of CEO
  8. 4 people found this helpful  

    The best and worst place I have ever said I worked at.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Contractor - Account Executive in Warren, MI
    Former Contractor - Account Executive in Warren, MI

    I worked at Financial Services of America as a contractor (less than a year)

    Pros

    You learn a LOT about yourself and your sales career. Teaches you charisma, confidence and how to truly be a great salesmen. Since my time there I have carried most of what I learned into my next career and have had a lot of positive remarks in regards to it. My confidence during a presentation or when working with a client has adjusted drastically in a good way.

    Another pro is the CEO. I say this with some hesitation however. From a business standpoint and some of the personal information he shared he seams like an absolute humble and great guy. However, considering what I am about to put in the cons section, I cant understand why he runs his business the way he does. Well from a pure making money view I get it, but from a foundation standpoint, I don't.

    Also, despite what some people say, its not a coupon book your selling. The job is very simple. I will outline it more accurately.
    1. Learn everything
    2. Get daily appointments from appointment setter
    3. Use presentation learned to explain benefits that exist in book to prospect
    4. Make a friend with client
    5. Ask financial questions in order to offer insurance review
    5. Use skills to find a need with the client that is in the book
    6. Let manager or skilled persons in that area come back out to offer services to client as requested by client.

    Cons

    First of all. If you are offered a sales position, TAKE THE SALARY. Do NOT take the draw pay. Once you fail miserably and you will, to have to pay back a few grand is never fun once you start getting notices from a law firm about the money you owe back to them. Do yourself a favor, don't ignore them. They want the money back and will do what they can to make that happen. Even if you find them a few million in investment opportunities with the clients they provide, if a sale isn't made, you owe them. Oh by the way, a sale is depending on someone who is licensed completing the sale for you. So if they fail, you fail and they move on to the next opportunity while your left with nothing.

    P&C gets you nothing. They are all about the financial aspect and presenting the services in the guide. Don't expect P&C to keep you in good graces.

    Leads are somewhat of a joke, as some others have said. However, they do give you a heck of a lot of training to overcome the lackluster quality of leads. So its a Con in the way that its not like the client is always expecting you to show up and sit on the sofa for a conversation.

    Another, be prepared to drive ALL OVER MICHIGAN. I am serious. They will send you 3 hours away for a 11am appointment, but you wont get out of the mandatory training till 10am. So you can see how serious they even take there own appointments sometimes. Its never fun when you drive 3 hours one way and find out that the phone number wasn't even correct with the address provided. Which can make the whole trip a giant waste of money, money that's not yours to begin with.

    The biggest Con the whole time I was there, was that they don't care what you have to say or do. You are a number to the accountant, if the amount of money they gave you is not in a certain range with the income you are bringing in, they will walk you out the door or cut your draw..

    ONLY work for this company if you can work for free or work on the salary payment schedule. Stay away from the draw unless you believe you truly can be the top 5% of agents who find clients with money to invest in products they offer. The draw will only irritate the company and stress you out as you keep collecting paychecks, waste gas money and accomplish nothing but some, I will admit it, VERY good training.

    Advice to ManagementAdvice

    Turn the company into a powerhouse insurance and financial company. Get your agents leads based on insurance such as P&C and then offer the guide and membership as part of the process. Its a much less invasive approach and will accomplish the same goals if the client already has agreed to a service. Why knock doors down when a simple change in the phone script gets the client to simply open the door before we even arrive. Also it helps your agents earn a living and it will even provide better qualified leads. Think of all the extra time you would have if you can cut back on the "get in the door" training. Not to mention your turnover with employees will drop significantly. That will allow you to groom and grow rather than train and replace.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  9. 3 people found this helpful  

    Biggest career regret I've ever made

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Account Executive in Warren, MI
    Former Employee - Account Executive in Warren, MI

    I worked at Financial Services of America full-time (more than 3 years)

    Pros

    I agree with what others have said- the best thing about this company is the positive energy during training and in meetings/classes with Richard James, the company's president, who seems to be a genuinely good person.

    Cons

    I saw that a manager at FSA responded to a review by saying that FSA picks up the costs of training and appointment setting, and a base salary is in place- this is misleading. You pay your own way and your own expenses, for a relatively small chunk of the overall commission the company earns from each sale (you only make about 30% of the commission made by the company) and there is no base salary, at least there wasn't as of a couple of months ago (I was still there after the manager wrote their review). They put you on a draw for awhile, which you pay back from the money you make, and if you don't earn "enough" they will take away your draw- so you have to work for free or quit, and if you quit, you owe them the balance of your draw. It's ridiculous. Also, the "leads" and "appointments" they set are about 80% crap- you drive all over the state to show up on doorsteps where half the time people aren't there, and the other half of the time people rudely ask you to leave because they never wanted you there in the first place. Those are not appointments, and they are crappy as far as leads are concerned. The company spends a lot of money on these leads and they then justify your small commission level by pointing out how much they spend on leads, but at the end of the day you'd be better off going to business mixers and making your own leads- and you'd waste a lot less of your own time and gas money, too.
    Furthermore, there are several managers who are absolutely NOT doing the right things for their clients- they will recommend products with high commissions that may not be the best thing for the client, and if you have any integrity at all, you will not like this, especially when you realize that if you don't agree with them, you'll lose money and may end up owing the company or having to work for free.
    There are a few good people, but overall, this is a corrupt business. Keep in mind, too, that if you do decide to try it out and you wonder why they have such high turnover (the highest turnover I've ever seen or heard of) that managers will keep your clients once you leave, so they don't seem to care if you try it out for awhile, make a sale or two, then quit, because the 10-15 men at the top of the pyramid just keep absorbing new clients- THEY rarely have to go out finding new clients because they will keep yours. Such a scheme.
    Finally-there are NO benefits. No sick days, paid vacation, health insurance, 401k- nothing. Without those benefits, you'd be better off tending bar at an Olive Garden than you will working for FSA.

    Advice to ManagementAdvice

    Come up with better benefits in the so-called guides. Make it something people will actually want- doesn't take a huge effort to put together some discount programs. Get AT&T to offer a discount on phone and cable service; get pet insurance discounts; get group discounts to a fitness club. If there were real offers- and not just extended sales pamphlets on the retirement services you're selling- people might actually want to see you at their door.
    Treat your employees with respect. Certain people in upper management are unscrupulous jerks who act like they're better than everyone around them.
    Pay your employees benefits or at least give them group pricing on insurance and allow them to put money into a 401k.

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
  10.  

    Overall a great place to work.....if you like sales.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Account Executive in Warren, MI
    Former Employee - Account Executive in Warren, MI

    I worked at Financial Services of America full-time (less than a year)

    Pros

    The training was excellent. The management staff was knowledgeable and helpful. There is a definite attitude of "family first" when dealing with time off/emergencies.

    Cons

    Sales. Even though you help people with their retirement assets and insurances, it is a sales job which was not for me. Mr. James told me up front not to expect more income than the base pay for the first 6 months so there were no surprises.

    Recommends
    Positive Outlook
    Approves of CEO
  11. 2 people found this helpful  

    ***Read Me***

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

    I have been working at Financial Services of America full-time (more than 3 years)

    Pros

    Let me first off start by stating I am NOT a manager but I have been with the FSA for just over 3 years. Now I have worked in management for over 15 years prior to coming on board and some of that time was working with other financial and insurance companies in Michigan. I pull no punches and would love to add my two cents.

    The question being answered on this board is, Is FSA for every one, and that answer is NO. Is FSA for those wanting a high earning career in the financial industry, wanting to learn and willing to put in the effort and time to be successful, absolutely. It sickens me to see some of the reviews on here, though some true, greatly taken out of context. The negative reviews Ive seen on here clearly are from individuals with little to no experience in this industry and little to no drive. As a former agent manager at a different fortune 500 company in the insurance industry I look at these comments and shutter. In my experience the number one reason agents fail in our indusrty (and leave their clients behind) is because after the first year they can not find new clients to talk to. Lets be honest, anyone who has entered our career path has been faced with a Project 100's asking you for round up and pitch all friends and family (not here). However, once these leads are used up agents fall off and out of our industry due to not having the drive to find new clients out side of their own network. I found that both new and long term agents were spending 70-80% of their time just trying to find new prospects to talk to. I was no different and I was spending that same amount of time training agents how to think outside the box to find new opportunities. The system FSA has istituted for lead generation was the #1 reason I accepted a position here. They have removed this barrier and cured the biggest concern agents face, who to talk to. In this system you are given 5-6 leads a day and although they may be cold, warm, hot or waiting with check in hand it still falls on the agent to be able warm up, make a friend, qualify and help fix any issues the client may have. At the end of the day the management is not on the road with you, they cannot ensure that you make all of the appointments, that you run all of your leads and they can not make every sale for you. THIS IS A SALES POSITION. If you are uncomfortable about that then this may not be the opportunity for you.

     Now, you want to talk about expence and pay? There will be some cost of doing business, but the risk is well worth the reurn if you commit your self, pay your dues and put in your time. Nothing in life is free or comes easy. Does eveyone make six figures in their first year, no, but I have seen many do it by working hard, paying attention, following up and listining to what you've been taught. To be clear, the harder you work and the more effort you put in then the greater the return. My agents in the past were on their own to cover scheduling, advertising, phone bills, gas, auto expences, atire, back office costs and in addition also paid for manuals, training material, etc. This is pretty much an industry standand so do not be shocked if you see this anywhere in our industry. That said, at FSA, as most of the comments read, you will find some of the best industry training on the planet. You recieve in you first year and as needed training almost every morning with some of the top individuals in their respective fields. I have never seen anything like it outside these four walls. This system, though sometimes flawed, is everchanging and regularly modified to keep up with the times and technologies. So yes there is and can be growing pains. This is not a bad problem to have when your working for one of the most respected fastest growing financial firms in the country. Please just look at the banner proudly hanging on the front of the building. TOP WORK places, again..! Stop in and talk to an one of us here and you will hear these opinions echoed down the hallways.

    Have I been frustrated in my time here, Yes! But if you have the drive, the willingness to grow and the desire to work with an industry leader then FSA is hands down one of the best Financial firms to work with.

    Cons

    Make no mistake about it, we represent clients all across Michigan. Be willing to drive and be good at traveling in the snow.

    Advice to ManagementAdvice

    You have alot of talented individuals up in coming, make sure to extend a hand and make them aware that you see them and that there is room at the top for growth.

    Recommends
    Positive Outlook
    Approves of CEO

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