Foresters Financial Reviews | Glassdoor

Foresters Financial Reviews

Updated May 18, 2017
309 reviews

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Full-time Part-time

309 Employee Reviews

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Pros
  • The training program for new financial representatives is state of the art and helps you start building your business from day one (in 24 reviews)

  • Good work - life balance; managers can be very accommodating (in 12 reviews)

Cons
  • No work/life balance, at least if you plan on being successful (in 16 reviews)

  • You will be pressured to sell to friends and family (in 13 reviews)

More Pros and Cons

  1. Helpful (10)

    "Excellent Company to Bring to your Network"

    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
    Approves of CEO

    I worked at Foresters Financial (More than a year)

    Pros

    Solid training that allows you to earn a decent hourly wage while learning the business from management and development teams. Awesome team-oriented atmosphere that was generally accepted and adhered to consistently. Some top notch resources available to representatives. Family orientation from top-down. Was cool to be a rep with the ability to talk to Wall Street fund managers. Great financial firm to work with.

    Cons

    During my brief time, there were new management and changes that were not cohesive and centered around miscommunication. I wasn't able to succeed due to a lack of strong network to build so nothing the company could have done.

    Advice to Management

    Continue a hand-on approach for new reps. The training and resources available are incredible but need to find situations to actually use everything. Not sure how but with the focus on obtaining more, high quality appointments, there needs to be more on how to consistently set and keep those appointments.


  2. Helpful (4)

    "Don't be misled"

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

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

    Pros

    They pay your exam fees and materials, plus you're paid to study at work
    Good sense of community within the hiring class
    Senior reps are friendly

    Cons

    tldr: interviews are misleading, only take this job if you're cool soliciting sales from your personal network (and all the cliches about life insurance salesmen are true)

    Branch management's motivation for reps is very "sell or you're fired"
    You will be pressured to sell to friends and family. They will say that this is just to start off, but they continue to emphasize this and getting referrals to their friends and family...
    During interview you'll be told a story about working in school systems with teachers, but you won't be getting there if you don't sell to friends and family first. I expected that I'd be able to get into advising people who needed it, but you can't prospect in earnest until you've passed your 6 and 63 and by then half the time until your first FYGR requirement has passed.
    Speaking of FYGR....compensation seems to be constantly changing. But what you should know is: you make minimum wage for six months, supplemented by baby commissions if you make any sales.

    Advice to Management

    Don't mislead prospective reps during the interview process; be upfront about this being a sales job and about the need to solicit sales from personal contacts


  3. Helpful (9)

    "Shady company, awful reputation, all credible reviewers say stay away both as a client and agent"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Sales Representative in Bridgeport, CT
    Former Employee - Financial Sales Representative in Bridgeport, CT
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

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

    Pros

    License sponsor- you get licensed at little cost out of pocket

    Working with school teachers and professionals. Except u have to live knowing there are better options for them and that the "service" is nothing more than paying to have a diversified investment. Something people can do for much cheaper. These people can better their lives by saving the thousands that they pay to agents and the company.

    Management opportunities- they hire within

    Ability to transfer offices. this is forward looking and you'll likely leave far before taking advantage of these pros

    Cons

    Cold calling for hours
    Knock on doors

    DO NOT LISTEN TO THEM WHEN THEY TELL YOU TO CONTACT PEOPLE YOU KNOW TO SELL TO.

    There's a reason they hire so many people and have you sell to your natural market to begin. The base pay is their bet on getting your book of clientele and you ending up leaving the company.

    They have you Walk the thin line of legal and illegal practices, they promote deception in order to make a quick sale.

    They have you put all the people you know into a log, then tell you to contact all of them to arrange a sales meeting. Do not do this. If you decide to, You'll sign your friends and family up for mediocre and expensive life insurance disguised as a retirement plan. If you manage to sell enough to hit quota you will quickly be out of leads and rely on word of mouth from those friends you sold to. Unfortunately the products aren't ideal and your chances of exceeding expectations (to get referrals) from those people, are slim to none.


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  5. Helpful (2)

    "Sales Manager"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Sales Manager in Houston, TX
    Former Employee - Sales Manager in Houston, TX
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at Foresters Financial full-time (More than 5 years)

    Pros

    Family comes first and they try very hard to keep employees happy

    Cons

    I moved so it's too far to travel there

    Advice to Management

    Great work environment


  6. "Emphasis on Life Insurance Products"

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

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

    Pros

    Great atmosphere of ambitious professionals with a great overall company mission.

    Cons

    Minimum wage essentially while working as a financial services representative. Switch to IC will take much longer than described.

    Advice to Management

    Don't shove life insurance sales on new representatives as their only goal.


  7. Helpful (10)

    "Intern"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Intern in New Haven, CT
    Former Employee - Intern in New Haven, CT
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at Foresters Financial (Less than a year)

    Pros

    This internship was well coordinated. There was a great balance of curriculum work that educated other interns and myself about the financial sector, as well as working with reps to learn everyday operations. The hours were very flexible to help correspond with a college class schedule. There is a hypothetical casework study towards the end of the internship and all of the reps within the office were more than helpful with making sure that all the information was understood. Free lunch was also great.

    Cons

    As an intern I did not have any cons. My review should not reflect actual full time employment for the company.

    Advice to Management

    Perhaps add some more role playing within the internship.


  8. "Good company, terrible oay"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Representative in Southfield, MI
    Former Employee - Financial Representative in Southfield, MI
    Neutral Outlook
    No opinion of CEO

    I worked at Foresters Financial (Less than a year)

    Pros

    Good products
    Paid training for the firing 9 months

    Cons

    Pay is abysmal, minimum wage

    Advice to Management

    Change training system


  9. "Overworked, overlooked, terrible culture"

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

    Pros

    The people are fun and easy to work with, coworkers have a work hard / play hard attitude.

    Cons

    Management has no say in how their branch is run. They are held to the beliefs and expectations of their insensitive boss.
    They sold each and every one of us in the interview with possible high incomes and a culture of helping people. Both turned out to be false; minimum wage and a heavy sales culture. Not to mention a terrible work-life balance.
    I have been in sales for nearly 5 years now and no firm has given me more regrets than Foresters.

    Advice to Management

    Don't tell employees they are not the "dime a dozen" people think they are, just to treat them like a dime a dozen. Take responsibility when you're at fault and lead by example. Or get out of management.


  10. "Romper Room becomes Start Up"

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

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

    Pros

    It's Romper Room.....come and go as you please. You may be on payroll for a while 3-6 months.

    Cons

    The managers try to ACT hands on but they are not. HQ is really a sham outta NJ. Work LATE a few nites and also on Sats. They RUSH you pass tests. Expecting you to have already passed Life & Health coming in. *Better know lots of people cause their ONLY hook is PG Cty. teachers. Mehhhh. Managers are all UNDER 25. *Diapers and acne.

    Advice to Management

    *Grow a SET. STOP being so regimented and maybe you can retain some good qualified experienced people.


  11. "Training was good"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Investment Advisor Representative in Orland Park, IL
    Former Employee - Investment Advisor Representative in Orland Park, IL
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I worked at Foresters Financial full-time (More than 10 years)

    Pros

    Good training, they help with attaining a license. Management has weekly meetings and spends time with each associate. The management will help to encourage marketing initiatives

    Cons

    The marketing is all upon the individual advisor. If you don't have a plan, they will let you falter. I witnessed good people fail due to lack of effective marketing.

    Advice to Management

    Be sure each associate has a workable marketing plan


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