Hantz Financial Services
2.2 of 5 25 reviews
www.HantzGroup.com Southfield, MI 150 to 499 Employees

Hantz Financial Services Reviews

Updated Jan 4, 2014

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2.2 25 reviews

                             

41% Approve of the CEO

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John Hantz

(17 ratings)

24% of employees recommend this company to a friend
25 Employee Reviews
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1 person found this helpful  

Current Advisor, with Hantz for 10 years

CFP (Current Employee)

I have been working at Hantz Financial Services full-time for more than 8 years

Pros-Great training program
-Enjoyable work environment
-Excellent business model

Cons-If you want a job where you go just through the motions for a set period of time this is not the company for you

Advice to Senior ManagementSpend some money on advertising and more experienced specialist support staff

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

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Awful

Anonymous Employee (Former Employee)

I worked at Hantz Financial Services

ProsSome young co-workers with optimistic attitudes

Cons12 hr days + Saturdays, Pay was terrible, customer luring tactics were very misleading. Hantz sells financial tools that are beneficial to the firm more so the client.

No, I would not recommend this company to a friend

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Don't Get Trapped

Intern (Former Employee)
Southfield, MI

I worked at Hantz Financial Services full-time for less than a year

ProsGood place to learn the basics of accounting and finance. I interned with the accounting department full-time. I was paid minimum wage, but was able to learn some accounting basics and met a lot of good people.

This job was a stepping stone to much better opportunities elsewhere.

The annual party was a lot of fun.

ConsTerrible hours and pay. The company strives to pay as little as possible to new employees and get as much work out of them as humanly possible.

As I stated previously, I was an accounting intern for Hantz. As soon as I finished school, I received a call from one of the many VPs. I was offered a salary that came out to about $10 per hour. I was also told that I had to make the decision immediately. When I countered with a a small increase to the original offer, I was told that I shouldn't expect anything more coming right out of college and that I was lucky to have this offer. There was no way that I was going to be able to live on that salary, so I turned it down. Two weeks later, I found another job that paid $50,000.

I watched one employee take a sick day. The management did not like this, so they sent another employee to their house to make sure that they were truly sick. The employee was not sick, but probably exhausted from working so much. I am not sure what happened to them, but I know that management was furious.

Advice to Senior ManagementStop taking advantage of recent college graduates. Just because you can pay them as little as possible, does not mean that you should. Do some research to make offers that are within range of other companies in the industry. Work is not everything and people that are able to have lives outside of work make for much better employees.

No, I would not recommend this company to a friend

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The Hantz Game...

Financial Advisor (Former Employee)
Southfield, MI

I worked at Hantz Financial Services full-time for more than a year

ProsPros: If you’re looking to start your own financial business, but need FINRA/SEC licenses you can obtain them here. Just be prepared to pay around $2000 out of pocket when you quit before your one-year commitment. You can also learn everything you need to within a 1 year period. The concept of the company is creative & can be beneficial, but does lack customization to the clients. Future employers will feel sorry for you that you worked here & will more than likely hire you out of pity; many previous employees have been hired in by reputable companies due to this, this fortunately happened to me.

ConsThe reviews below stating 5 Stars are not realistic by any means. Notice they had four 5 star reviews within a two week period. This company has a terrible retention rating and is currently having a difficult time recruiting college graduates (Sales Leads; I will explain later on) due to this site & others like it. I just wished I would have found this site before I started working for them.

-If you can read body language and pick up on visual clues you will notice that everyone is not as happy as they claim. (Look at the vehicles they drive, yes they depreciate and are a poor investment. But to drive a 2000 Ford Taurus but you claim to make $150,000, I can see one person doing this, not 140 advisors.)

-What they “forget” to mention is that any clients you bring in are not going to be yours. They belong to the shareholders in the company.

-When someone does leave the company, the game moves along to who is going to get their clients. Those who live and breathe the Hantz fumes get the good clients the remainder of the clients is passed along to others.

-Whatever expenses can be handed over to the groups and individuals they will do that. Hantz needs to cash for this Bank, he is desperately trying to become a billionaire in his lifetime.He could have reached that if he changed his business culture/mind, but will never reach that goal and is starting to plateau out.

-Everyone has to work 6 days a week because “we work harder than our competitors”. You could have brought Bill Gates in as a client; you are still going to be working Saturday.

-Presentations are very good quality, I recommend sitting through them if you’re looking for creative ways. You can then use these if you go off on your own, many already have.

-Some of the advisors don’t have a college degree, this to me is a slap in my face for the hard work I did for four years. This shows the respect they have for your accomplishments. They hire anyone they can; this provides those leads, not experience or leadership.

-Everyone is a vice-president of something. From VP of Commercial Insurance (East Side, Brick Buildings Only), VP of Property & Casualty Insurance Main Office (Luxury Automobile Division), VP of Marketing (Phone Based) to VP of Marketing (Web Based). You get the idea. You can sniff out the “leadership” who are pure losers.

-Health Insurance is a joke. I bet Obamacare will be better than what they offer. You will also try to sell health insurance it if you stay long enough.

-I am an independent but the entire company hates democrats in general because John Hantz does. This to me is very funny to here the regurgitated comments from the dedicated employees. If John says it must be true, this reminds me of the State Farm Can’t lie on the internet commercial...”

-Everything they sell or offer they need you to have as well. You must open bank accounts; debit cards use their auto/home insurance plans.

-ZERO, support for advertising; ever see a commercial/radio ad? They claim they don’t work, I claim they don’t know how to market effectively.

-They are not respected by other companies & advisors. Go to a NAIFA meeting or other related conferences. Most advisors have positive comments to say about other firms and individuals, not this company. I had a previous finance professor who I spoke to a year after I graduate, Once I told him where I was working, he laughed under his breath. I told him I wasn’t offended by it.

-Some of the local offices have a bad reputation with the community and the stakeholders. Eating at local restaurants near these offices, I was fortunate to talk with some of the owners and workers. One community called the local office The Boiler Room, just like the movie.

-Clients are all recommended the same products. Your job is to sell what they tell you, not ask questions or recommend your own submissions.

-Bonus/Raises are provided by the yearly Hantz annual party, at his house of course. All the food and alcohol you can consumer in one evening.

-LinkedIn is forbidden, they see your profile, and they want you to delete it immediately. Those who are established and stuck can leave it up for false hope.

-You are not an employee or worker, just a cheap source of sales leads. Good quality sales leads can be expensive. You become an employee after you return a profit to the group above your cost to them.

-Sales leads are a complete joke, their leads are outdated, have been called upon other advisors thousands of times, pulled from the yellow pages. Anyone remember Farmer Jack?
-Mileage reimbursement=$0. Good luck with that.

-If you have to put food on the table and you can’t wait for another interview/offer then go here, if not wait it out.

Advice to Senior ManagementIn order for you to become an excellent advisor in the future, you really shouldn’t drag your family and friends until you gained experience & a solid reputation with them by working on other clients first. These people are your life blood and if you ruin that, you future reputation with them is tarnished for a long time. Hantz Group counters this argument by stating that you will be working with an experienced advisor so there is nothing to worry about here & your building a practice and need their support. All great advisors I know recommend that if you are going into this industry leave your family and friends out of your career for a minimum of two to three years. Think about it, if you quit Hantz group you are also quitting on your family and leaving them behind for at least a year. Would you do that in real life?

No, I would not recommend this company to a friend

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Unsatisfied with previously undisclosed amount of termination fees

Financial Consultant (Former Employee)
Grandville, MI

I worked at Hantz Financial Services full-time for less than a year

ProsYou can make a lot of money if you are good at selling insurance.

ConsThe hours are long for beginners (60 hours/week)

Advice to Senior ManagementWhen a new recruit signs the Hantz Financial Services, Inc. "Loan Document," please include the exact amount of money that the recruit will have to pay in case he terminates FINRA classes, or if he resigns from the position. PLease tell this to the recruit BEFORE he signs the loan document. (In my case, I was told AFTER I signed the document, and my invoice was $603.68, for the termination of a Financial Planner position and of a FINRA registration).

The following advice is to anyone who is considering a career at Hantz Financial Services:

If you have the skills to make money selling insurance, then you will do great. They are a successful financial group. However, please be careful before signing ANY loan documents. In my case, I was just given the paper and, to quote the recruiter, who hurriedly explained the terms and conditions: "That's just saying that if we pay for all your certificates, and you decide to quit right after that, you'll have to pay for all of the certificates that we paid for. That's just so that you don't have us pay for the certificates, and then leave to work for another company."

Perfectly understandable advice, and I was at that point aware that the certificates required to obtain proper licensing for this position would be paid for by Hantz Group. So, by signing this document, I was only aware of the fees IN CASE I QUIT AFTER obtaining my licenses.

However, my friends, just be careful, because by signing this loan document, you will have shortly put yourself in hundreds of dollars of debt. The reason being, that once you sign the loan document, they will go ahead and register you for a FINRA live or online class, as well as order study materials. If you go on the Kaplan Financial Education website, you will see that the cost of registration for a class and for study materials is $449.

I have just received an invoice for $448.43 (under the heading Series 7 Materials), though I terminated more than three weeks before the class started. There are also fingerprinting fees and termination fees.

To conclude: If you as a new recruit feel that you are going to stick with this company, then go ahead and sign the loan document. Otherwise, be very careful before signing ANYTHING having to do with loans, fees, or materials.

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

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100% committed to your career success.

Financial Advisor (Current Employee)
Ann Arbor, MI

I have been working at Hantz Financial Services full-time for more than 8 years

ProsI started here as a college grad 9 years ago, this month. They took my lack of experience and turned it into the best career experience anyone could ask for. Training comes from all angles...management, experienced associates, coworkers in other lines of business, product companies. I've seen countless examples of people who've taken their income above $150,000 per year, once they get their client base established.

 When I interviewed, they did tell me it would take a lot of work to get my client base built. The hours referenced are to insure you have time to learn the many facets of the business to be successful. Veteran advisor and associates here work with great flexibility because the career allows for it, once your client base is built. No other company I interviewed with showed as much commitment to training and comprehensive integrated knowledge around what needs to happen to take care of the client's financial needs and concerns. I could not imagine working anywhere else, and if I had to build my career on this industry, again, I wouldn't take the risk with another company.

Even though my full time job is working with clients as a planner, I've had the opportunity to build and integrate new technology into our client service model. Very few places allow the field advisor to influence the work that is presented to clients.

ConsIf you are looking for a job and not a career, this is not the place for you. The clients and the work is both interesting and very rewarding, but you have to dedicate enough commitment in the beginning (3-5years) to build your client base.

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

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You get out of it what you put in

Financial Advisor (Current Employee)
Ann Arbor, MI

I have been working at Hantz Financial Services full-time for more than 8 years

ProsUnlimited income, only cap is the cap that you put on your own personal growth.
You are building a business and by doing right by your clients, you will be more than rewarded.
If you focus on what matters, you can easily make 100k by year 3 and 200k by year 6.
Hours are quite flexible once you have shown you are successful, after 10 years you pretty much call your own shots.

ConsIf you don't like to work, you will not fit in here!!
You will be judged on what you produce not by the hours you work, good for some, bad for others.
Don't come here if you believe you should be handed something or you believe in entitlements, as stated before you are strictly judged by what you produce (seniority or hours spent at the office mean essentially nil)

Advice to Senior ManagementKeep things positive, even though we have many imperfections, we are making great things happen.

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

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Nice to see a Financial Services Company where Women Thrive!! Not the industry norm.

Financial Advisor (Current Employee)
Okemos, MI

I have been working at Hantz Financial Services full-time for more than 10 years

Pros1. The company continues to grow in Michigan, where so many others have struggled, or left. 2. Complete control of your calendar, once your practice is established. - Nice for Family

Cons1. The rate of growth causes some departments to be under staffed. 2. Because we grow my word of mouth, most people dont know what we do, or who we are until they come in to meet us.

Advice to Senior ManagementDon't Keep our Success Story such a secret, Advertise, or provide more promotional material for us to use with prospetive cleints.

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

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Great for employees and clients

Financial Advisor (Current Employee)
Grandville, MI

I have been working at Hantz Financial Services full-time for more than 5 years

ProsIntegrated atmosphere that puts a focus on clients goals and needs. Multiple specialists in one office help make planning more efficent.

ConsYou must have a very good work ethic to make it in this industry. This is not a traditional 8-5 job, many clients want to meet after 5.

Advice to Senior ManagementIt would be nice if there was some sort of advertising for Hantz Financials services.

Yes, I would recommend this company to a friend

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Accountant

Staff Accountant (Former Employee)

I worked at Hantz Financial Services full-time for more than a year

ProsLearned a lot about personal financial planning. Also got a free tax book.

ConsRead the others below. I just wanted to post to echo that this is not an enjoyable experience.

Advice to Senior ManagementBetter training, allow others to have own opinion, stop putting people in no win situations.

No, I would not recommend this company to a friend

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