Modern Woodmen Reviews | Glassdoor

Modern Woodmen Reviews

Updated November 11, 2017
103 reviews

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103 Employee Reviews

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Pros
Cons
  • Home office support shuts down at 4:30pm (in 6 reviews)

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

More Pros and Cons

  1. Helpful (2)

    "management needs some work."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Systems Administrator in Rock Island, IL
    Former Employee - Systems Administrator in Rock Island, IL
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

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

    Pros

    Great company if your not in IT

    Cons

    Trying to move too much too fast. Take and use bad advise from consultants.
    Best qualified applicants don't get promoted.
    Consultants and third party vendors run Modern Woodmen.
    I could go on...

    Advice to Management

    Slow down and start listening to the professional technical people you've hired instead of the money grubbing consultants.


  2. Helpful (2)

    "Financial Advisor"

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

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

    Pros

    Total independence, fraternal network, awesome support. When you do well, the benefits to the job are great.

    Cons

    Have to come up with your own clients, but that's about it in terms of on the job cons. You have to account for dips in income by not maximizing your enjoyment during good months.

    Advice to Management

    Keep up the good work, I love working here. Although there are cons to the system, the benefits outweigh them overall.

  3. Helpful (11)

    "Very misleading local management, but a great company at best"

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

    Pros

    They have the best insurance and fraternal benefits for their clients by far in this industry!
    CEO Kenny Massey is an awesome man to work for. If he knew how things were ran in SW Missouri, he'd have a fit and heads would roll.

    Cons

    They call themselves at the regional level "not-for-profit" when they are anything but. Local managers breed an environment of harassment and bullying. They have lied to everyone that has come to work and said that they would give you money to help pay your bills if you need it while you are learning. This is the farthest thing from the truth. Wish I had started with a different insurance company when I first got into the business 3 years ago. I wouldn't be financially strapped right now if I had. They charge you for everything including a laptop that when you leave you must return to them even though you're required to pay $100/ month for it. After 2 years, you still have to return it.

    Advice to Management

    Watch your Regional Directors and management closely. There is a reason why 19 out of 20 new hires quit. I was the agent of the year in 2014 and quit due to lack of support. Your agents should not have to compete for business with their direct suprvisors. They supervisors already get a commission off of what the agents are making, so why should they be allowed to send the "small commission" accounts to the people struggling to make ends meet, while they sit back fat an easy enjoying there guaranteed salary???


  4. Helpful (1)

    "Excellent"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Advisor
    Current Employee - Financial Advisor
    Recommends
    Positive Outlook

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

    Pros

    Great training, great management, ability to make lots of money. And best of all the benefits are exceptional. The fraternalism is what makes the company different. Even the top of the company at home office are incredible people and will sit down and have a conversation with you whenever, they might even just call you up for no particular reason. The training is top notch starting with the MP and RD. The company truly does what is in the best interest of the client.

    Cons

    Tough to get started, but if you are willing to put the work in it will be very beneficial to you and your family.

    Advice to Management

    Keep on rocking


  5. Helpful (1)

    "Financial Representative"

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

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

    Pros

    Great benefits, including a pension. Strong support from the home office. Unlimited potential for compensation and advancement. Community-oriented because they are a nonprofit fraternal company.

    Cons

    This type of career, in general, requires that you either have a network of people to turn into clients or can quickly build such a network.


  6. Helpful (1)

    "Financial Representative"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Indianapolis, IN
    Former Employee - Anonymous Employee in Indianapolis, IN
    Recommends
    Positive Outlook

    I worked at Modern Woodmen full-time

    Pros

    Excellent leadership, benefits, and training. Hire just a few; keep 90%. Not like insurance industry three year retention average of 9%. Care about clients. Really care

    Cons

    Limited product type. Emphasizes permanent to the exclusion of temporary. No IUL.

    Advice to Management

    Modernize product portfolio


  7. Helpful (3)

    "Disappointing"

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

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

    Pros

    The benefits and flex hours were great. PTO, holiday pay Etc. Chapter 22 activities are also something that the company does that is wonderful.

    Cons

    They don't give you the training you need to exceed with the company. Instead they give you a trainer that's never around to help you or is always in "meetings".

    Advice to Management

    Train your employees yourself or at least give your employee a trainer who can actually help them.

  8. 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


  9. 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)


  10. "Banking Services"

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

    Pros

    Great co-workers, benefits are solid, still offer a pension plan

    Cons

    strict formal dress code, difficult to advance, high stress financial environment

    Advice to Management

    revise dress code for internal office employees that do not interact with clients.


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