MassMutual Financial Advisor Reviews | Glassdoor

MassMutual Financial Advisor Reviews

Updated July 18, 2017
60 reviews

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Financial Advisor

3.1
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MassMutual Chairman, President, and CEO Roger W. Crandall
Roger W. Crandall
26 Ratings

Employee Reviews

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Pros
  • Work from home option is very flexible (in 15 reviews)

  • Supportive management, good benefits, good people to work with (in 30 reviews)

Cons
  • Commission only, no base salary or temporary salary while training (in 19 reviews)

  • It is 100% commission based, so the beginning can be very difficult to get through (in 25 reviews)

More Pros and Cons

  1. Helpful (5)

    "Awesome Place to Work"

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

    I have been working at MassMutual full-time (More than 3 years)

    Pros

    The ability to build your own business- This opportunity allows you to build your own process, client base and business model. There are opportunities for joint work with other advisers who are experienced.

    Selfless management team- They management team here does everything in their power to help you achieve your personal goals in regards to building your own business. They ensure that you are on track and hold you to the expectations you set for yourself.

    You get what you put in- This career is not for the faint of heart or those who want something handed to them. If you do not wake up every day to find people that you can help educate and provide solutions to their problems then this isn't a job for you.

    Hands on help- There are numerous ways the office and staff help advisors with their business. The training program here has become top notch and is designed to get you up and running as quickly as possible. The staff is exceptionally helpful with marketing events, business coordinating and creating an incredible client experience

    Cons

    100% Commission Base

    This is not a career path for everyone. You cannot sit around and hope for clients to seek you out.

    The learning curve is steep but the joint work partners help fix that.


  2. "Double edged sword"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Advisor in Portland, OR
    Former Employee - Financial Advisor in Portland, OR
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    I worked at MassMutual full-time

    Pros

    A lot of flexibility and work life balance.

    Cons

    It is an all commission job. No base salary.

  3. "TERRIBLE training program for inexperienced reps"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Advisor in Knoxville, TN
    Former Employee - Financial Advisor in Knoxville, TN
    Doesn't Recommend
    Positive Outlook

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

    Pros

    Great people to work with, the training was just not there. The financial field is very regulated and training is key.

    Cons

    Without proper training in a field that is scrutinized by the government, it only sets an inexperienced rep up to fail.

    Advice to Management

    Better training for inexperienced financial reps or perhaps don't hire inexperience financial reps


  4. Helpful (5)

    "Good company, good people, would not recommend"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Advisor in Bala Cynwyd, PA
    Former Employee - Financial Advisor in Bala Cynwyd, PA
    Doesn't Recommend
    Negative Outlook
    Approves of CEO

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

    Pros

    Unlimited earnings potential because job is 100% commission based. Training program is good and senior leadership is helpful in their role of supporting/closing deals.

    Cons

    100% commission. "You're your own boss". Senior leadership advertises how you make your hours, then complain if you are not "working on your practice" 24 hours a day, every day. Since you are "your own business owner", MassMutual charges you to work there: office space, office supplies, administrative fees, etc. and they also take out percentages in commission checks. The commission handbook is roughly 400 pages so on your first day, I advice a new agent to memorize all 400 pages to fully understand how much money they will be making when they close a client. Quite the revolving door of fresh talent. Typically 3-6 new agents every 6 months and 1 remaining after 1 year. The revolving door is due to new agent having to create their own book of business. Since the best clients are established professionals, the first logical clients would be family and neighbors. Very difficult conversations to have about life insurance and disability insurance, fresh out of college, with family and neighbors. The next logical clients would be friends, but young people do not want/need life insurance or disability insurance. Tough to have any sort of work-life balance when your income is 100% commission based and new agents are not making any commissions. If a new agent can last more than 2 years, they can start bringing in new talent to their team, that new agent will sign their close family and maybe some friends, and when they leave, the established agent keeps their business. Quite the genius business model.

    Advice to Management

    Restructure. Do not bring in as many new people. Focus on clients, not profits. Allow senior advisors to bring in new clients, and allow young advisors to assist senior advisors while learning the business.


  5. "Misleading"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Advisor in Spokane, WA
    Current Employee - Financial Advisor in Spokane, WA
    Doesn't Recommend
    No opinion of CEO

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

    Pros

    Potential to make a lot of money.
    Culture is really kind and somewhat helpful.

    Cons

    No starting salary or starting pay.
    you have to pay for all of your licensing and training.
    No reimbursement for time spent training.
    There is no one to help you create you practice and build your clientele.

    Advice to Management

    Give some type of starting pay. Minimum wage for the first few months even.


  6. "Financial rep"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Advisor in Lake Oswego, OR
    Current Employee - Financial Advisor in Lake Oswego, OR
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at MassMutual full-time (More than 3 years)

    Pros

    Great culture! Independence, income and impact! You get to help people, have independence to still spend time with your family and make a good living in the process. If you're willing to work hard, you can make great money and feel fulfilled.

    Cons

    It's hard work for sure. You have to be willing to be coachable, work hard and deal with rejection. If you're willing to do all 3 of these things, you can be very successful but you have to be willing to pay the price for success.

    Advice to Management

    You have a great culture, product and service that you provide to the community. I would encourage you to continue to teach the young advisors how to get prospect.


  7. Helpful (1)

    "Representative in the field. Lack of innovation."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Advisor in Midwest City, OK
    Former Employee - Financial Advisor in Midwest City, OK
    Doesn't Recommend
    Positive Outlook
    Disapproves of CEO

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

    Pros

    Good benefits. Very highly rated and stable. Great award conferences. Good whole life product.

    Cons

    Severe lack of commitment to client facing and advisor facing technology. The broker dealer is terrible. They have one really good insurance product (whole life). All other products are way too expensive to consider selling to a client. They give too much power to the local general agents and do a terrible job of hiring local general agents. Customer service reps would constantly unknowingly give wrong information about basic procedures and form requirements. WAY to conservative with decisions. Broker dealer would constantly blame FINRA for reasons why certain decisions were made when very few other broker dealers would make the same decision.

    Advice to Management

    Don't treat the broker dealer like it's a necessary evil. Treat the broker dealer like a revenue center and an asset in recruiting reps. Clearly distinguish between company policies and FINRA rules. Don't blame everything on FINRA, it causes the reps to not trust what you tell us.

  8. Helpful (1)

    "Financial Advisor"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Advisor in Cincinnati, OH
    Former Employee - Financial Advisor in Cincinnati, OH
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    Work life balance is good. You can pretty much make your own schedule. That's all I can say about the pros.

    Cons

    This company is horrible. Soon I'm sure they will be investigated for violation of fiduciary rules. They force you to sell their products to everyone regardless of suitability. If you don't then they won't pay you at all. You have to pay them to work for them. They hold back commissions based on some bogus excuse and then act like you are inconveniencing them. They only care about whole life insurance. Pay outs suck and they only want you to sell tier one products which consist of one produce. Stay far away from this company. They are crooks.

    Advice to Management

    Stop forcing talented financial planners to life insurance agents!!


  9. "Financial Advisor for Mass Mutual"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Contractor - Financial Advisor in New Windsor, NY
    Current Contractor - Financial Advisor in New Windsor, NY
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at MassMutual as a contractor (More than a year)

    Pros

    Thinking outside of the box is encouraged in this company as compared to other Financial Companies that I have worked for. The Financial Strength of the company is incredibly good and with a long history of such. There is nothing like a Mutual Company rather than a Stock driven company to work for. It gives both me and my clients confidence. Mass Mutual actually cares about people and shows it concretely with programs like their free Life Bridge for education of beneficiaries program.

    Cons

    All commission driven rather than salary driven careers are difficult to establish. You have to be very sure that this is the career for you...that it is your "calling". Office fees and expenses can be inordinately high unless you keep a good handle on things.

    Advice to Management

    Offer a minimum training allowance no strings attached once Contract A is reached.Also, I do not like being charged technological advancement fee regardless of whether I'm using said technology or not


  10. Helpful (1)

    "Prospecting required, job #1."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Advisor in Dallas, TX
    Former Employee - Financial Advisor in Dallas, TX
    Doesn't Recommend
    Negative Outlook
    Approves of CEO

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

    Pros

    Very good company, strong products and well managed.

    Cons

    You must constantly prospect for new clients.

    Advice to Management

    Make sure applicants know what is involved with constant prospecting.