Foresters Financial Reviews | Glassdoor

Foresters Financial Reviews

Updated May 22, 2018
391 reviews

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3.0
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Jim Boyle
8 Ratings

391 Employee Reviews

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Pros
  • Great staff easy to work with great training program (in 29 reviews)

  • You learn a lot of information about being a financial advisor and what kind of person would succeed as one (in 14 reviews)

Cons
  • Work/Life balance could be affected if you have get a good start from the beginning (in 23 reviews)

  • contacting personal friends and family (in 20 reviews)

More Pros and Cons

  1. Featured Review

    Helpful (9)

    "Foresters Financial"

    StarStarStarStarStar
    Current Employee - Anonymous Employee in New York, NY
    Current Employee - Anonymous Employee in New York, NY
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Foresters Financial full-time

    Pros

    Having the ability to help individuals, families & business owners get their finances in order, identify their goals and pave a path for them to get there day in and day the best part of my job. The support i received from my managers and the other advisers in the office has been the biggest reason for my success. The training is awesome!

    Cons

    This career is not for everyone. You must be truly dedicated to helping others first, have a determination for success and a work ethic that exceeds your peers. The training program provides everything you need for success its just a matter of taking advantage of it which not everyone has the drive to do.


  2. "A company with sincere intent to educate people first, then provide services & products suited to the individual"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Investment Advisor in Indianapolis, IN
    Current Employee - Investment Advisor in Indianapolis, IN
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Foresters Financial full-time (Less than a year)

    Pros

    Supportive team environment in the office
    Provide a number of tools to achieve in this field
    Genuine regard for their clients

    Cons

    Pay while training is not the most desirable, but at least it is only temporary

    Training schedule can be hard to juggle, but this is also temporary

  3. "Intense"

    StarStarStarStarStar
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Foresters Financial full-time

    Pros

    Great opportunity to learn how the advising field works.

    Cons

    Strong pressure to sell to friends and family.


  4. "Financial Services Rep"

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

    I worked at Foresters Financial full-time

    Pros

    -Helping people out, but you can do that at any financial services company
    -Get to pick your own schedule (kind of)

    Cons

    -Management is not good, not someone you want to be like
    -100% commission after 9 months (sooner if you are doing well)
    -Have to sell to family and friends
    -Told to sell certain products
    -Have to work weekends
    -Dont work here unless you have a lot of money saved up beforehand because you wont make money unless you are selling pure insurance
    -Go work at another company like an RIA. Will get better experience and actual mentorship
    -Do not work here right after college
    -No 401k or any benefits
    -You are an independent contractor

    Advice to Management

    -Create a good program for kids after college not just a program where you get 30 new clients because they leave. Bad leadership
    - Probably only 5% of people stay more than a year


  5. "Financial Management"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Recommends
    Positive Outlook
    No opinion of CEO

    I worked at Foresters Financial (Less than a year)

    Pros

    Good Work Place Environment

    Cons

    nonchalant management, A lot sitting around

    Advice to Management

    care more


  6. "Foresters Financial - Downtown NYC"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in New York, NY
    Current Employee - Anonymous Employee in New York, NY
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Foresters Financial full-time (More than a year)

    Pros

    Foresters Financial has a great training program and the management team provides their support 100%. The working environment is very collaborative and challenging others is encouraged. Great collaborative environment where challenging others is encouraged. This industry gives reps/advisers the opportunity to make a significant amount of income.

    Cons

    Very high turnover rate. Must be highly motivated and must not get discouraged by rejection. Work/Life balance could be affected if you have get a good start from the beginning .


  7. "Registered Rep"

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

    I have been working at Foresters Financial full-time

    Pros

    The work you put in is the result you get

    flexible schedule

    Cons

    little useful support from management

    difficult to find success right away

    no teamwork. all independent work (which is a pro for some)

    Advice to Management

    ask for honest advice in the training and office meetings. most reps don't find them useful and just waste of time

  8. "Good Work Environment"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Senior Management
    Former Employee - Registered Representative in Westbury, NY
    Former Employee - Registered Representative in Westbury, NY
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at Foresters Financial full-time (More than a year)

    Pros

    It's on Long Island so it's an easy commute for locals.
    The work enironment is laid back and the managers are really nice.
    Company parties are a lot of fun and the training is great. Series 6 and 63.
    Mentors are really helpful with the new guys.

    Cons

    Having to build your own book of business by cold calling and hosting seminars.
    Making AUM hurdles and sometimes having to use friends/family as a resource.
    High turnover rate.
    Driving aroung Long Island/Queens to meet clients at their home.

    Advice to Management

    There is no advice. I spoke about this recently with family, their business model is working for them and they continue to grow. You have to expect a high turnover rate because in the end its a game of numbers. And management needs to find the best of the best. I have no suggestions for management... I think they're doing great.


  9. "Intern"

    StarStarStarStarStar
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    Pros

    Great collaborative environment where challenging others is encouraged.

    Cons

    Very narrow in target customer


  10. Helpful (1)

    "Cold call sales"

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

    I worked at Foresters Financial full-time

    Pros

    Extensive training, no experience needed

    Cons

    Manipulative sales techniques using psychological cues to determine response, cold calling friends and family, expectation of 50 hour minimum weeks, over 80% turnover rate among new hires in first year

    Advice to Management

    Be more transparent in the interview process


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