First Investors Corporation

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

Updated September 8, 2014
Updated September 8, 2014
178 Reviews
3.8
178 Reviews
Rating Trends

Recommend to a friend
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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

Employee Reviews

Sort: Popular Rating Date
  1. 2 people found this helpful  

    Great and amazing experience

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

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

    Pros

    Excellent 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.

    Cons

    The 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.

    Positive Outlook
  2. 2 people found this helpful  

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

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

    I have been working at First Investors Corporation full-time for more than 3 years

    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 ManagementAdvice

    I 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!

    Recommends
    Positive Outlook
    Approves of CEO
  3. 1 person found this helpful  

    Not the best fit unless you have strong sales skills

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Financial Services Representative  in  Portland, OR
    Current Employee - Financial Services Representative in Portland, OR

    I have been working at First Investors Corporation full-time

    Pros

    Once 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.

    Cons

    Its 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.

    Doesn't Recommend
    Positive Outlook
    No opinion of CEO
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  5.  

    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
  6. 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
  7.  

    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
  8. 2 people found this helpful  

    It's all about the people and the support!

    • 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 full-time for more than 10 years

    Pros

    Whether 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!

    Cons

    A bit slow with the up and coming technology.

    Advice to ManagementAdvice

    Keep doing what you're doing!!

    Recommends
    Approves of CEO
  9. 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
  10. 1 person found this helpful  

    Good company if it's the path you're shooting to follow.

    • 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 as a contractor for more than 3 years

    Pros

    Flexible schedule once established. Good products. Fun environment. Good trips if you qualify for them.

    Cons

    No benefits because you're an independent contractor.

    Advice to ManagementAdvice

    Careful not to try and put too much demand on your reps when they're on independent contractors and you're providing no benefits to back them up.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  11. 2 people found this helpful  

    It's been an ok journey so far.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Financial Services Representative  in  Phoenix, AZ
    Current Employee - Financial Services Representative in Phoenix, AZ

    I have been working at First Investors Corporation full-time for more than 3 years

    Pros

    Decent environment to work in.
    Get to meet several new people out there that need financial questions and concerns answered.

    Cons

    Lack of support once testing for licenses is done.
    May need a deep pocket to get the ball rolling at first.

    Recommends
    Positive Outlook

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