Modern Woodmen Reviews

Updated March 10, 2015
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3.9
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W. Kenny Massey
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Employee Reviews

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  1. Leadership and management provide great support and lead with integrity.

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

    I have been working at Modern Woodmen full-time (more than a year)

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    They do what is best for the client/member instead of just trying to make a sale.
    A high value is placed on relationships with clients and giving to the community.

    Cons

    You only get out of it what you put into to it. But that's not a bad thing if you are willing to work for your success.

    Advice to Management

    Only hire candidates who are well suited to become a competent financial advisor.

  2. When it comes to a positive work culture and thorough training, you can't beat Modern Woodmen in SoCal.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Contractor - Financial Representative in Irvine, CA
    Current Contractor - Financial Representative in Irvine, CA

    I have been working at Modern Woodmen as a contractor (less than a year)

    Pros

    I am not contracted with Modern Woodmen yet, but am very close to it. First off, in the Irvine region, the training and support is unparalleled. The managers are incredible, with an amazing work ethic and support system. They have put a lot of effort into training the new agents, even before they are officially contracted with the company. They also won't hire just anyone, and have a long-term investment in their new agents when they do. You can't beat the benefits of superior health insurance, matching IRA contributions, BDA allowances and monthly bonuses (which you have to earn).

    Cons

    I would say the only con is that Modern Woodmen could have a few more products in their life insurance products lineup, or at least a few more options of what you can do with those policies. I understand that Modern Woodmen is a very conservative company with a commitment to keeping the amount of assets high, but it sure would be nice to have more to offer to my clients.

    Advice to Management

    The management is unparalleled in their commitment to training and building a superior team of agents. Keep it up!

  3. Rewarding experience; great company and culture.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Financial Representative in South Houston, TX
    Current Employee - Financial Representative in South Houston, TX

    I have been working at Modern Woodmen

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Independence, tremendous support from management and home office.

    Cons

    Lack of training on advanced products.

    Advice to Management

    More training and provide some sort of stipend for first year agents to assist with brand recognition.

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  5. The best job and most fulfilling experience I have ever had

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

    I have been working at Modern Woodmen full-time (less than a year)

    Recommends
    Positive Outlook
    No opinion of CEO
    Recommends
    Positive Outlook
    No opinion of CEO

    Pros

    My favorite parts of working for Modern Woodmen are:
    1. Working with people and helping others
    2. Education: Modern Woodmen pays and encourages continuing education and training, monthly, quarterly and annually to enable the sky as the limit as far as your financial education and practices go.
    3. Flexibility: I am an entrepreneur and business consultant. I run a start-up, consult other business owners and entrepreneurs and it all rolls into my practice with Modern Woodmen. I am able to run my start-up, help others with their business practices, while at the same time, assisting them as clients with growing, protecting and properly planning their personal, family and business goals.

    Cons

    The only two cons I have seen at Modern Woodmen is:
    1. Not having a base salary. There is a $2,000 draw that you are eligible for, where you can receive $500 every Friday to keep you rolling. This is credited to your account and as you close sales, your commissions will repay the draw.
    2.BDA (Business Development Allowance): Your first 2 years you are eligible for BDA Bonuses, but they are capped out at $2,000 per month. They are 50% of your commissions, so, for example, if you do $10,000 in sales in one month, you will receive $5,000 in commissions. The BDA will give you 50% of your commissions, in this case $2,500 would be your BDA for that month. Since the BDA caps at $2,000 per month, your $2,500 BDA this month will only pay $2,000, the other $500 will roll over to the following month. The following month, you will receive the $500 BDA. Now, if you continue to hit over the $2,000 BDA every month, then it will keep rolling over. This is a good problem to have, but on the con side, if you make $20,000 in one month, you will not receive all of your bonus credit that month. On the bright side, this can be used sort of as a "Paid vacation" where if you have BDA rolling over every month, you can take a month or two off and still receive your $2,000 BDA that have been rolling over every month.

    Advice to Management

    Set up a draw for new agents early on. Having access to capital will make agents more mobile and more confident. Since it takes a few months to settle into this new, amazing, career - having access to this capital without worry will lower stress and make the transition easy, showing higher results early on. I can not speak for all regions, but our region in Cary, NC has amazing company cultures. The company, as a whole, being Fraternal has amazing benefits and company culture. The Cary, NC, Doug Polk region has amazing management, company culture and open door policies that have allowed me to come in, get out of previous debt from a failed start-up and become the highest selling agent in the region, in just 3 months. In November, 2014, I received an award for the most business done in the nation. In August, 2014, when I entered, I was in debt $10,000 and had a rough start. They listened to me, put faith in me and gave me the resources and confidence I needed to now be the highest selling agent in the nation for the entire company, last month. This month, my numbers are even higher and we still have one week left. I hope to accomplish this award every month, but so far, I know I will have it at least 2 months in a row and that is greatly related to the training and values I have learned from our management team. This is my dream career and I will be doing this for the rest of my life, I know that because I love the job and the people. I know I will be happy here for a very long time and I trust my family and friends to be invested in this company, as well.

  6. Helpful (1)

    Lack of Training/Management/Supervision

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Financial Representative in Nashville, TN
    Former Employee - Financial Representative in Nashville, TN

    I worked at Modern Woodmen full-time (less than a year)

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    Pros

    Some of the best benefits in the industry when it comes to 401k, pension plan, health, dental, vision insurance
    Fraternal system can lead your way into sales with daycares and schools.

    Cons

    After you are hired it is all about the next hire for your Region. Management is trying to get the new agents up and running so existing agents are literally on their own after a month or two. Compensation is 100% commission so with a small company that isn't well known it is very challenging to get in the door. No leads or "book of business" are handed to new agents so you are starting from the ground up from your contract date. Turnover is extremely high due to new agents not being able to make it financially within the first 3-6 months.

    Advice to Management

    Possibly reform the compensation package to attract new agents like signing bonus, salary, etc.

  7. Good Career Opportunity, Not for Everyone

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

    I have been working at Modern Woodmen full-time (more than 10 years)

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    Pros

    Control your own schedule, health insurance and pension plan provided, 401-k available with match, Fraternal Business Model allows you to give to the community, work with people of great integrity.

    Cons

    Home office employees lack understanding of what field force challenges are, Management favoritism/legacy building is rampant, Focus is on increasing # of managers rather than supporting existing reps and current managers, Product offering is limited.

    Advice to Management

    Listen to recordings of agents calling the home office...you might be shocked how disrespectful some HO staff is and the inaccurate information given. Cut the number of Regional Directors in half, half of them aren't producing anyway, use the savings to increase agent and managing partner compensation/support. Managing Partners are the ones who recruit new reps, make that a more attractive position and provide more support to them.

  8. Helpful (1)

    Sales with little training

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

    I worked at Modern Woodmen full-time (more than 3 years)

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    Pros

    Good benefits and potential for great income if you get properly trained on products.

    Cons

    Lack of training on products and services. Must train yourself with little help from management.

  9. Working for Modern Woodmen of America has been better than all the other insurance companies I have worked with.

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

    I have been working at Modern Woodmen full-time (more than a year)

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Besides having great products to offer my clients, Modern Woodmen is a fraternal company which provides $30 million every year for us to use in our communities. This is great fir the communities, our members, and has the effect of great marketing for us.

    Cons

    There are some additional products I wish we had to sell.

    Advice to Management

    Listen to the field reps for new products to meet market demands.

  10. Helpful (1)

    Great Company...Client Focused. Good career opportunity especially if you plan to work in the middle America market.

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

    I have been working at Modern Woodmen full-time (more than 10 years)

    Recommends
    Neutral Outlook
    Approves of CEO
    Recommends
    Neutral Outlook
    Approves of CEO

    Pros

    Fraternal Company, Good Training for New Representatives, Very Good Corporate Citizen, Supports Representatives Giving Back to Community, Defined Benefit Plan Funded by Company, Excellent Medical & Dental Plans, 401K

    Cons

    Not as much support for seasoned representatives...more focused on newer reps, Relatively low commission rates compared to industry however benefits are good, Annual "Incentive" trip is basically a glorified sales meeting usually in a great location but the time is filled with meetings.

    Advice to Management

    Recognize that established reps need support too, Reduce amount of time spent in meetings at annual conference or stop making reps qualify, Promoting as many Regional Directors as possible doesn't make sense...they aren't the ones producing. Reduce the number of management in the field and increase agent compensation/bonus.

  11. Helpful (1)

    Great Place To Work!

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

    I worked at Modern Woodmen full-time

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Great pay and training! Managing Partners are terrific at what they do, and are always willing to help. It feels like a mom and pop shop.

    Cons

    All commission from the beginning. Maybe have a base plus commission for the first year. If you don't have a market, you won't succeed.

    Advice to Management

    Keep on doing what you are doing.

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Michigan Regional Office

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