First Investors Corporation Reviews | Glassdoor

First Investors Corporation Reviews

Updated September 28, 2016
47 reviews

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First Investors Corporation President & CEO Bill Lipkus
Bill Lipkus
7 Ratings

47 Employee Reviews

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Pros
  • extensive training program is what lured me to the company (in 23 reviews)

  • Great company, very client oriented, lots of support available, huge income potential, rewarding (in 13 reviews)

Cons
  • No benefits makes your long-term overhead high unless you have a spouse whose job offers benefits (in 22 reviews)

  • long hours with a lot of travel (in 20 reviews)

More Pros and Cons

  1. Helpful (1)

    "A True Introduction to the Corporate World"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Receptionist in Conshohocken, PA
    Former Employee - Receptionist in Conshohocken, PA
    Doesn't Recommend

    Pros

    Close to home, some of the advisors were wonderful people who could easily have jobs in better companies

    Cons

    Absolutely awful management! The manager in charge of the office was beyond sexist. He was impossible to please and spent more time trying to find fault with people than actually helping them learn the business. I was not an advisor, but I was part of the office support staff and in a way, his treatment was even worse. I always wondered why I was hired to work for the company if all I was there for was to be insulted, bullied, and threatened.

    Advice to Management

    There are a lot of former advisors speaking negatively about their experiences at First Investors - please take the time to also consider the office support staff, the receptionists, the interns that your company employs. They are not verbal punching bags. They are not there for the abuse and stress of the advisors. Making coffee and ordering office supplies shouldn't come with being mocked by the Branch Manager. I only regret quietly terminating my employment and moving on instead of bringing the Branch Manager's bad behavior to light, though after several years now in the corporate world, I realize that it wouldn't have mattered; the Branch Manager's constant boasting about how this VP and that VP were his close friends, how they came to his wedding, how they went on vacation today, pretty much ensured that nothing I said would have been effective.


  2. Helpful (2)

    "Run, don't walk away"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Doesn't Recommend
    Negative Outlook

    Pros

    Some of coworkers are very nice

    Cons

    Company is out of contact with reality and employee's situation. Run or take another option instead of working for this company

    Advice to Management

    Listen to your employees. Maybe there wouldn't be such a high turn over rate it management actually managed and listen to concerns


  3. Helpful (1)

    "bad management"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Services Representative in Seattle, WA
    Former Employee - Financial Services Representative in Seattle, WA
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    poor management, poor work life balance

    Cons

    limited products to sell, bad CRM software


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  5. "No support. High expectations. Long, unpaid hours."

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Phoenix, AZ
    Former Employee - Anonymous Employee in Phoenix, AZ
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    I worked at First Investors Corporation full-time (More than 3 years)

    Pros

    Conventions are better than competitors but qualifying is difficult. No monthly fee/dues to office. Make your own schedule once you produce enough. Foresters benefits for clients but only with Foresters products. Community service.

    Cons

    No benefits. Group life is all you get until you are in management but even then benefits are lousy. Proprietary funds/limited products.

    Advice to Management

    Listen to reps and assistant managers. Follow through with what you say you are going to do or not do. Do not talk badly about colleagues it is unprofessional and non-productive. Lead by example. Provide support to employees not just your friends that are reps. Be reliable.


  6. Helpful (4)

    "Not a good firm"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Services Representative in Denver, CO
    Former Employee - Financial Services Representative in Denver, CO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at First Investors Corporation full-time (Less than a year)

    Pros

    It is possible to be successful. If you know a lot of ignorant rich people, you can make decent money.

    Cons

    Poor management. On your own 24/7. Their funds are absolutely awful. Bad reputation in the finance industry, hence the "rebrand".

    Advice to Management

    Management is horrible. Leave your political beliefs at home(especially if you're a manager). Improve the performance of mutual funds.


  7. Helpful (3)

    "Good Training, Deceiving Pay"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Phoenix, AZ
    Former Employee - Anonymous Employee in Phoenix, AZ

    Pros

    If you want to be trained in this industry work here

    Cons

    If you want to actually learn the business.. seek help from the senior agents not management..


  8. Helpful (2)

    "Financial Advisor Position Review"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Advisor in Denver, CO
    Former Employee - Financial Advisor in Denver, CO
    Doesn't Recommend
    Negative Outlook

    I worked at First Investors Corporation full-time (Less than a year)

    Pros

    The people that work there are generally nice, easy going, and the Denver office is very small but expanding rapidly.

    Cons

    This job has no work/life balance. The first several years you are there it is typical to have 60-80 hour work weeks. Which also includes you working the majority of your weekends to attend trade shows to network and build your book. You are also given a series of sales quotas you have to meet your first year and most people I saw that worked there were unable to make their quotas and let go. This job is a real boiler room operation with a continuous rotating door of employees getting hired and quitting all the time. This job also contains a bunch of cold calling and you are pressured by management to sell insurance to your friends and family (not okay in my book).

    Advice to Management

    The timetables you are given to make sales quotas and obtain the necessary series 63 and insurance sales certificate is next to impossible. Also the managers at the Denver office should not have the majority of their employees working until 8pm or later M-F.


  9. "Trained for Rep position with no pay or benefits"

    Star Star Star Star Star
    Former Employee - Financial Services Representative in Euclid, OH
    Former Employee - Financial Services Representative in Euclid, OH

    I worked at First Investors Corporation (Less than a year)

    Pros

    Knowledge obtained was very useful

    Cons

    no pay or benefits while training

    Advice to Management

    a support base salary would be helpful


  10. "Financial Services Representative"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Freelancer - Anonymous Freelancer
    Former Freelancer - Anonymous Freelancer
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    Pros

    Will pay for your Series 6 and 66 exams

    Cons

    Unsupportive working atmosphere, very low pay until sales compensation, requires you to reach out to personal network


  11. Helpful (1)

    "Awful experience"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Cranford, NJ
    Former Employee - Anonymous Employee in Cranford, NJ
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at First Investors Corporation full-time (Less than a year)

    Pros

    Commute was close to home

    Cons

    awful pay, long hours, tried to be a big fish in a small point where it was really a small fish in a big pond.

    Advice to Management

    Hire people with more experience and stop caring about dollar figures



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