North Star Resource Group Reviews | Glassdoor

North Star Resource Group Reviews

Updated January 11, 2017
13 reviews

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2.0
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Edward G. Deutschlander
2 Ratings

13 Employee Reviews

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Pros
  • Jacobs Financial is great place to work (in 5 reviews)

  • 1/3 of the Financial Advisors are fun, and bonus their support staff since the company decided to stop giving raises 5 years ago (in 5 reviews)

Cons
  • If you really wan't to be considered for a full time job, you must put in some pretty long hours (in 7 reviews)

  • Takes a lot of hard work and long hours to build successful practice (in 6 reviews)

More Pros and Cons

  1. "It all depends on who you work for"

    Star Star Star Star Star
    • 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

    I worked at North Star Resource Group full-time

    Pros

    The people (especially the support staff) are wonderful. There really is a decent open door policy among assistants, and many advisors take part in this too. At the monthly team meetings team members are recognized and rewarded for going above and beyond, which is cheesy but nice. Treats on Mondays, Wednesdays, and Fridays is a nice perk. From my experience, no one really cared too much about overtime pay, so you could stretch out your days to make more money if you want to. Don't know if that's changed. CEO is a decent guy. You can change jobs/advisors within the company, but it can be very difficult.

    Cons

    Unfortunately I could only give my review 2 stars because I have more cons to list than pros (but the pros do carry a lot of weight). Whether or not you have a good experience depends on the advisor you work for. My advisor was awesome. Fun, supportive, available for questions, all that good stuff. Advisors can range from spectacular to downright horrid. There are two advisors in a partnership who can't keep assistants because they are so unpleasant to work for. Unsupportive, mean, self-important, and everyone knows it. Which brings me to my next point, upper management. They know these two individuals can scarcely keep assistants for more than a year, but they don't do anything about it. They only care about making money for the company, which these advisors somehow manage to do. If you go to any management person (HR is nearly non-existent) with a problem related to an advisor, all they're gonna do is defend the advisor. No help for you. No help for you in the way of training either. You've somehow got to carve out time to watch the webinars online, which is impossible if you're up to your eyeballs in paperwork. If you go for a license, you'll be doing a lot of self-study at home, and you won't be paid for your time. Lastly, the pay for support staff is FAR LESS than the national average. It's downright unfair and can be difficult to get by on such a meager amount of money. Raises come once per year after an annual review. The good advisors give sizable holiday bonuses (from their own pockets, not the company), which can help. But be ready to be up sh*t creek without a paddle, as there's not really any opportunities for promotion for support staff.

    Advice to Management

    Have a higher base pay for support staff. Bite the bullet and hire someone who's sole responsibility is training new people. The turnover is high enough that this would be worth it and that person would have plenty of work to do. If you know advisors treat their staff like crap, fire those advisors! Make room for talented people who are also kind. The company won't suffer from this. In fact, it might even be a beneficial move to make!


  2. "Financial Advisor Internship"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Intern - Financial Advisor Trainee in San Diego, CA
    Former Intern - Financial Advisor Trainee in San Diego, CA
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I worked at North Star Resource Group as an intern (Less than a year)

    Pros

    Good experience learning what I did NOT want to do post-graduation. Happy to have a part-time introduction to the world of financial advising.

    Cons

    Interview process does not tell you what you will be doing on a daily basis. Deceitful story about how beneficial the training they give you will be.

    Advice to Management

    USE A TRAINING PROGRAM THAT WORKS! Don't have 'mentors' to your interns based out of a different location. You leave new hires in the dust with no guidance.


  3. "Whole life insurance will be your main financial product."

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

    I worked at North Star Resource Group full-time (More than a year)

    Pros

    It is a good place to work if you would like to be a whole life insurance sales person.

    Cons

    Management describes your job as a financial advisor. Truth is, they want you to sell whole life insurance. Many times I told them I wasn't comfortable promoting whole life insurance as my main product. It was obvious management was not happy with this. Very frustrating place for me to work. If you go into the job knowing you are a whole life insurance sales person, you'll be fine.

    Advice to Management

    Be up front with people when they first start. It is true, we are licensed to sell many financial products, although I think I'd be a lot less frustrated with the job if I knew at the beginning that my main Goto financial tool was going to be whole life insurance.


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  5. Helpful (2)

    "Financial Advisor"

    Star Star Star Star Star
    • 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 North Star Resource Group full-time

    Pros

    Great Training, Flexible work Hours

    Cons

    Unsettling Sales Practices (use b/d owned by Minnesota Life)... In other words, you become an Minnesota Life agent and biased. Company promotes itself as independent, which is misleading to clients.


  6. "Income. Independence. Impact."

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Contractor - Client Relations Coordinator
    Former Contractor - Client Relations Coordinator
    Doesn't Recommend
    Negative Outlook
    Approves of CEO

    I worked at North Star Resource Group as a contractor (Less than a year)

    Pros

    You can make a ton of money at North Star.

    After hitting the benchmarks in the first couple years you are free to grow your practice however you would like and are given opportunities to expand to other markets and cities.

    If you truly believe in the products you sell, mainly life insurance and disability, you can really make an impact with your clients. You can help the family fund for their child's college and help provide for the family if the breadwinner dies.

    Cons

    Yes, you can make a ton of money while at North Star, but do not expect it in the first 5 years. you will be eating pb&j's for five years. They give you a stipend of $18k a year, which is quickly diminished by the expenses you take on. So, if you're not closing enough business, you might get a negative paycheck (are you kidding me?)

    NS expects you to pay for all of your business expenses (office, leads, admin, PAPER, printer, computer) anything you can think of the company makes you pay for except your tests...if you pass them on the first try. They even make you pay to attend their mandatory twice a year meetings (hotel, flight, food).

    No training whatsoever, yes they pair you up with a mentor, but most of the time the mentor will not have time to answer your question because they are still busy with their practice. or if you get a chance to ask you a question, they will tell you to "google it". How can you be expected to sit across from clients when you have ZERO training?!

    No benefits. No training. No support. Mentorship program is a joke.

    Advice to Management

    Look at why top talent is leaving. It isn't because they "didn't make it". It's the structure of the company. Also, don't just let anyone mentor. The best producers don't always make the best managers.


  7. "Know what you're getting into"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Contractor - Anonymous Contractor
    Former Contractor - Anonymous Contractor
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    I worked at North Star Resource Group as a contractor (More than a year)

    Pros

    Independence, theoretical uncapped income, not a typical corporate culture.

    Cons

    No work-life balance for our first few years, a lot of expenses, success is very dependent on your relationship with your mentor, very monotonousness work, company is not very receptive to new ideas.

    Advice to Management

    Just because a system worked in the past, doesn't mean it will continue to work.


  8. "Nice people. minimal pay"

    Star Star Star Star Star
    • Work/Life Balance
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Doesn't Recommend
    Positive Outlook

    I have been working at North Star Resource Group full-time

    Pros

    Nice people, free food every week

    Cons

    A lot of the full time people have another job to support themself


  9. Helpful (3)

    "The assistants are over worked, under paid and not valued."

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Administrative Assistant in Minneapolis, MN
    Former Employee - Administrative Assistant in Minneapolis, MN
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at North Star Resource Group full-time (More than a year)

    Pros

    The other team members are great people and offered support whenever you needed it. It was a good learning experience.

    Cons

    The upper management does not value the team members. They view them ad replaceable and lower than. The advisors are allowed to do whatever they want and treat their assistants however they please.

    Advice to Management

    Value the people that work for you. They make the day to day possible and keep your business running!


  10. Helpful (3)

    "Happy to be gone"

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

    Pros

    - Flexible Schedule for support staff
    - Received time off when I wanted/needed it
    - Fun enviorment
    - 1/3 of the Financial Advisors are fun, and bonus their support staff since the company decided to stop giving raises 5 years ago

    Cons

    - Management sucks
    - 5 year "raise freeze" for the staff even though the company was hitting "record high" numbers
    - No training program for new employees
    - There has not been a real Human Resouces contact for over 6 years
    - Management does not communicate with their staff on important matters

    Advice to Management

    If you want your employess to stay, and your advisors to be appy, try paying your staff more. They have given you many years of dedicated service, what have you given them?


  11. "Ok... but you had better have a natural market to sell to"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend

    I worked at North Star Resource Group (Less than a year)

    Pros

    Supportive staff and basic training programs

    Cons

    Very dated and high pressure to sell.

    Advice to Management

    Provide a base salary for recent grads to get a start.



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