First Investors Corporation Reviews | Glassdoor

First Investors Corporation Reviews

Updated January 15, 2017
237 reviews

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237 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)

    "Financial Representative"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Beaverton, OR
    Former Employee - Anonymous Employee in Beaverton, OR
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

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

    Pros

    In-depth license training
    Potential to be successful after several of years
    Independence once you are a contractor

    Cons

    Low pay, really tough to get going (years)
    Fake interactions with people you know and care about
    Misrepresentation of what the job actually is at interview
    Micromanagement

    Advice to Management

    Be more upfront about what the job is (don't claim that employees make 6 figures within a year)


  2. "Intern"

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

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

    Pros

    easy to get internship - the process was a joke

    Cons

    no structure for in-semester internships. 90% cold calling


  3. "Financial Representative"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Representative in North Haven, CT
    Current Employee - Financial Representative in North Haven, CT
    Recommends
    Positive Outlook

    I have been working at First Investors Corporation full-time (Less than a year)

    Pros

    Just got a position there, going to start in May right after graduation, hopefully this company surpasses my expectations as a financial services firm.

    Cons

    I don't know at this point, seems like a good place to get your training and start your career. I do not know any negatives, hopefully I will have none in the long-run.

    Advice to Management

    Good work, I like the fact that my management shows support even though I have not yet worked with them. They seem very good people.


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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 (2)

    "Financial Services Representative/Registered Representative"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Registered Representative in Los Angeles, CA
    Former Employee - Registered Representative in Los Angeles, CA
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

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

    Pros

    Company paid happy hours. $9/hr for first 7 months. You get paid while you study for your life, series 6 and 63. The products suck so you really learn how to sell anything. They pay for your trade shows/prospecting activities and reimburse you $.35/mile driven for the first 7 months. They pay for your telephone and cubicle space even after you transition to contractor status. If you have family and friends with tons of money, then this is the place for you!

    Cons

    Drink the kool-aid. Regardless of what others are saying sucks about the company, don't repeat it and don't contribute... trust me, there are lots of coworkers that are willing to throw you under the bus for an extra atta-boy/girl. Work/Life balance is non-existent. Company does not advertise so it is hard to get prospects to trust you or even remember what company you work for (even after they become clients they'll still call you first financial/investments lol).

    The company does not hire experienced advisors/representatives. Very boiler room. Every other week there's a new pool of recent grads interviewing. Every other week there is someone who either gets fired or decides to quit. 2/10 reps stay longer than a year and 1/10 reps actually stay more than 3 years. The company has a reputation of being a stepping stone to other companies, meaning you learn the basics here and then move on to the major leagues (a real firm). During the interview process they sell you on how many licenses you can get (6,63, 7, 66, CFP, etc.) with them but they fail to tell you that you need to hit some crazy sales goals to even think about taking your 7. The environment was not very professional and personal drama always found a way to spill out to the bullpen.

    Advice to Management

    Let's have some raffles where people actually win a gift card.


  7. Helpful (2)

    "Sales, sales, sales"

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

    Pros

    Fun people, exceptional insurance products. As a company within a gross industry, great culture and they do their best to have you succeed, because it lines their pockets even more than yours.

    Cons

    mutual fund peddlers, but this is an industry gripe; not necessarily a FIC gripe. mediocre mutual funds, make the real money off of insurance, which is pushed heavily in a guerrilla-like fashion.If you're in the industry of insurance/mutual fund sales and don't mind cold-calling and pestering all your friends/relatives to "invest", this is for you. but after receiving an MBA, MSc-Finance, a couple designations, and a lot more experience, I am a lot more privy to the dangers of this type of commission-based business.

    Advice to Management

    additional support, stop hiring fresh undergrads to look for investable assets.


  8. Helpful (1)

    "Analyst"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Recommends
    Neutral Outlook
    Approves of CEO

    I worked at First Investors Corporation full-time

    Pros

    Work-Life balance, depending on your team there are some great people there

    Cons

    lack of motivation, slow-moving environment

    Advice to Management

    Pick up the pace and add some incentives for your employees to do their best every day


  9. Helpful (1)

    "Financial Services Representative"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Services Representative in Overland Park, KS
    Former Employee - Financial Services Representative in Overland Park, KS
    Recommends
    Positive Outlook

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

    Pros

    Great company, very client oriented, lots of support available, huge income potential, rewarding

    Cons

    can be tough start building clients, long hours, evening/weekend hours


  10. 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.


  11. Helpful (1)

    "Financial Services Representative"

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

    I worked at First Investors Corporation full-time

    Pros

    nice management, base pay first 9 months, opportunity to grow, earn commission on how much you sell which can be a lot if you put the time in, nice bonuses

    Cons

    After 9 months, paid straight commission. no benefits, lot of pressure, try to get as much out of you as quickly as they can



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