Modern Woodmen Reviews | Glassdoor

Modern Woodmen Reviews

Updated July 18, 2017
94 reviews

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Pros
Cons
  • Home office support shuts down at 4:30pm (in 5 reviews)

  • I don't have anything negative to say (in 3 reviews)

More Pros and Cons

  1. Helpful (1)

    "Financial Representative"

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

    Pros

    Good product and programs to help community

    Cons

    Underwriting is unreasonable and home office not helpful

    Advice to Management

    none


  2. "not for everyone"

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

    I worked at Modern Woodmen (Less than a year)

    Pros

    depending on your region, this could be a good starting point for a career in the life insurance/financial services world

    Cons

    sometimes too old fashioned, not really "Modern" in a lot of areas. Financial Rep position can be oversold depending on who you are talking to, no one knows of Modern Woodmen in many cases

    Advice to Management

    find ways to compete with big boys in certain regions, not ever philosophy fits every part of the country, create a compensation plan that allows time for patience while getting to know the business

  3. Helpful (5)

    "Financial Representative"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Representative in Chicago, IL
    Former Employee - Financial Representative in Chicago, IL
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    - Fraternal model of business focuses on client's needs and client relations
    - Jump-start commission structure means you make more off your sales when getting started
    - Independent contract results in being able to use products from other companies
    - Well established company with well designed products
    - Set your own schedule (make production requirements on your own time; no clock punching)
    - Framework to specialize in certain products on top of life insurance (e.x. health ins, disability ins, LTC ins., etc.)

    Cons

    - Life insurance company that isn't really interested in "broker types"
    - Production requirements only based on Life insurance sales; no other product sales count to contract requirements
    - Contracting as an FR is as far as you get without going into management
    - Severely underdeveloped RIA education and support
    - You make your own work and must be VERY well connected to build client book and obtain referrals
    - No salary/wage; 100% commission compensation. Hard to get started with no consistent income

    Advice to Management

    - When recruiting, do not say that you have unlimited potential to build your practice. This makes it seem like you can use any type of product to meet production.
    - Develop your RIA program to attract a different crowd of finance professionals and career builders
    - Commission structure for a newly contracted agent is nice, but so is income stability for the "dry seasons." Develop a compensation package that blends compensation and salary. (recommend looking at Morgan Stanley compensation structure)


  4. Helpful (3)

    "FInancial Representative"

    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
    Approves of CEO

    Pros

    Freedom to make your own schedule.
    Ability to make large amounts of money if you do well.
    Very thoughtful and caring management.

    Cons

    Difficult to get started if you don't have a sizeable network to sell to.
    Can be uncomfortable pushing products on people when they don't want to buy them.

    Advice to Management

    More opprotunities to get leads


  5. Helpful (4)

    "Overall Good Company- Poor Management"

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

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

    Pros

    Good company values, good career path if you survive commission sales. You get a chance to impact your community and peoples lives. I got to start 2 fraternal chapters and give back to people through matching funds and other charitable events.

    Cons

    Management will lie to you to get you on the hook and sell to your friends and family. I was personally lied to about how they would provide leads and help me build a business but at the end of the day they push you to sell insurance to friends and family.

    End the end, I learned a lot from the sales experience but I would have been better off staying waiting tables out of school instead of taking this job for the experience.

    Advice to Management

    Be honest about the job as a financial advisor and commission sales jobs.


  6. "Staff"

    StarStarStarStarStar
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Modern Woodmen full-time

    Pros

    Good people to work with

    Cons

    I really have little negative to say


  7. "Financial Representative"

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

    I worked at Modern Woodmen full-time

    Pros

    Great people for the most part. Excellent Benefits for Financial Reps. Pretty fair commissions on products. Has cool community events for members & family (Policy Holders). Flexible schedule working hours (if you do not discipline yourself to work you wont make any money).

    Cons

    Very old school lead generation which is done by talking to who you know already and mailers which Reps have to pay for (no one ever replies).

    Advice to Management

    Teach your reps how to prospect a little better.

  8. "Good Experience"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Modern Woodmen full-time

    Pros

    I increased my communication skill.

    Cons

    It was hard for me to find a client


  9. Helpful (4)

    "not for me, but for anybody looking into financial services there isnt a better company"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Intern in Austin, TX
    Former Employee - Intern in Austin, TX
    Recommends
    Approves of CEO

    Pros

    no ceiling. Chance to really make a difference in people's lives, not just make money. Community service. Great and supportive work atmosphere.

    Cons

    No ceiling but also no floor since it is all commission based. Not a well known company and its not for profit so at the beginning there is a lot of cold calling.

    Advice to Management

    Management is always there and can be relied upon. Management people also started right where everybody else did so they always know exactly what you are going through.


  10. Helpful (1)

    "Good company"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Representative
    Former Employee - Financial Representative
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Good people and decent bonuses and incentives to sale

    Cons

    Straight commission sales could use more products

    Advice to Management

    N/A.....pretty good people and managers overall


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