First Investors Corporation

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First Investors Corporation Reviews

Updated Jul 22, 2014
All Employees Current Employees Only

3.0 171 reviews

75% Approve of the CEO

First Investors Corporation President & CEO Bill Lipkus

Bill Lipkus

(36 ratings)

44% of employees recommend this company to a friend

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
171 Employee Reviews
Relevance Date Rating
in
    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Approves of CEO

    4 people found this helpful  

    Very Fortunate to find First Investors

    Registered Representative (Current Employee) Woodbridge, NJ

    ProsThe best thing about this career is the support you get from management. Whether it is detail oriented or a major business proposition they are a huge asset to have. They work for you! Another determining benefit for me was future prospects. This is somewhere that you can grow and wont have to hop around from company to company. The work atmosphere also makes it enjoyable to work everyday.

    ConsThis is a very competitive industry, if your not willing to put the time in to better yourself, you will not be successful. Menial tasks involving names and numbers is bit excessive.

    Advice to Senior ManagementKeep the bottom-up structure!

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

    • Culture & Values
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    • Approves of CEO

    1 person found this helpful  

    Being put out of your comfort zone countless times to the point where your successful

    Financial Services Representative (Current Employee) Woodbridge, NJ

    ProsThe salary while on the training program is extremely helpful to keep you afloat. All the support in the world from your manager and mentor with the training tools being endless. I don't know many jobs with the freedom to make your own schedule and make as much money as you want.

    ConsBecause of the high turnover there is definitely a wall up from other reps. But once you stick around for a while and prove yourself, you're golden, pony boy. I don't know if this is a con or more towards advice but; you must work hard to be successful! We're talking 50+ hour weeks and Saturdays.

    Advice to Senior ManagementConsistency.

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

    • Culture & Values
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    • No Opinion of CEO

    3 people found this helpful  

    Informative look into the basic financial advising career.

    Financial Services Representative (Former Employee) Beaverton, OR

    ProsThe employees and managers in the officer were fantastic people and really made the summer intern position enjoyable. Many activities both inside the office and outside that provided opportunity to bond with the people and still learn about the different aspects of finding, meeting, and advising clients. Weekly case studies and lessons helped to get an inside look into how the advisers would approach a client's financial situation.

    ConsThe internship was very hands off for the interns. There was little that we interns could actually do besides just sit and listen. We were set up with a mentor in the office that was already a successful adviser with the company, but our mentor did very little to interact with us unless we went to him and pushed the issue.

    Advice to Senior ManagementHold the mentors accountable for enriching the intern experience with the company. Create a program where the interns feel like they are actually learning about the financial tools and where they feel like they are being more involved so that they can get a better understanding of what they are getting into. Paint a picture for the interns that also covers the negative side of the financial adviser position. Some of the other interns distanced themselves because only the positive sides were told, and seemed too good to be true. Make it seem real.

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

  1. We want your feedback – Are these company reviews helpful to you?  Yes | No
    • Culture & Values
    • Work/Life Balance
    • Senior Management
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    • Career Opportunities
    • Approves of CEO

    2 people found this helpful  

    It's a career all about building relationships and helping people. What more could you want?

    Anonymous Employee (Current Employee) Cleveland, OH

    Pros-Set your own schedule (of course you still need to work but you can decide when)
    -The relationships you get to build with your clients are so rewarding
    -Great upward opportunity with a growing company which also means income is unlimited too
    -You can complete control over you career
    -You have license to be creative with your practice and take on any new initiatives you want
    -Exposure to new ideas and support from people all across the company and at all levels

    Cons-It does take hard work; you have to take ownership of your career.
    -It takes a lot of commitment especially in the beginning so the flexibility in schedule can be distracting to some.

    Advice to Senior ManagementI think they do a great job of balancing supervision and independence. A lot of times it's really up to the employee to make sure they are working hard which is how it should be!

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

    • Culture & Values
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    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Approves of CEO

    1 person found this helpful  

    Work hard or get out of the way

    Registered Representative (Former Employee) Phoenix, AZ

    ProsThe pros of this job are that you can be as ambitious as you want and work your butt off and most likely see great success. There are some minor rewards for hard work such as an annual company trip if you qualify, some expenses are paid.

    Consif you have a good mentor there aren't many cons. If you're mentor isn't into it or quits the company while you are studying for the exams or just get going, that's going to be tough.

    Advice to Senior ManagementNone, I think management is doing a good job.

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

    • Culture & Values
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    • Senior Management
    • Comp & Benefits
    • Career Opportunities

    1 person found this helpful  

    Great and amazing experience

    Financial Services Representative (Former Employee)

    ProsExcellent mentoring from managers to make sure you are being the best possible advisor you can be, Potential for high growth in business. Very good training and get licenses paid for by company.

    ConsThe work/life balance is not the best. Expect to put in 50 hours a week with low pay. Reason for this is because they are paying for your licenses and when you start to make full commissions the expectation of doubling and tippling base salary is high.

    – I'm optimistic about the outlook for this company

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    • No Opinion of CEO

     

    Not the best fit unless you have strong sales skills

    Financial Services Representative (Current Employee) Portland, OR

    ProsOnce you do establish yourself at this company, its looks like a great place to work. Not a very large office so work environment is very casual yet professional. The ability to work on your time seems very enticing.

    ConsIts getting to the pros that's the difficult part. You must have very strong sales skills and a very large network of people who would have enough money to actually invest. You must also learn the art of cold calling because you will have to start out doing that. You have to pay for licensure, but it doesn't sound too bad because accountants have to pay to get their CPA and financial analysts have to pay for the CFA exams as well. And be prepared to work long and hard in the beginning.

    No, I would not recommend this company to a friend – I'm optimistic about the outlook for this company

    • Culture & Values
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    • Disapproves of CEO

     

    Financial Advisor

    Anonymous Employee (Former Employee)

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

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

    Yes, I would recommend this company to a friend

    • Culture & Values
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    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Approves of CEO

    2 people found this helpful  

    It's all about the people and the support!

    Anonymous Employee (Current Employee)

    ProsWhether I am working with potential candidates, new hires, our Management team, or my colleagues, my work environment, in large due to people, makes First Investors such a great place to work! I have worked for First Investors for 10+ years now, and I am proud to say I have established my career here. The support I receive from my superiors, colleagues and company as a whole, are critical aspects in my job performance and overall happiness. It is in turn, the relationships formed with these individuals, that has led me to trust and value the company has a whole. It really is all about the people and support!

    ConsA bit slow with the up and coming technology.

    Advice to Senior ManagementKeep doing what you're doing!!

    Yes, I would recommend this company to a friend

    • Culture & Values
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    • No Opinion of CEO

     

    Lofty promises, but you're on your own

    Anonymous Employee (Former Employee)

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

    ConsLack 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 Senior ManagementInstead 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.

    No, I would not recommend this company to a friend

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