I have been fully licenced working for Primerica now for 11 months. I believe that Primerica, overall has a very positive effect on society.
Not to mention a great business opportunity over the LONG RUN. The way I see it is like this. Their are many companies out there that offer some kind of financial planning, some with competitave products and some without. Primerica at least in Canada has a great line of segregated funds as well as an award wining line of fund of fund mutual funds managed by AGF.
But thats not why I joined this company. With Primerica I have over 1800 different investment choices which gives the educated advisor like myself many options. So if we forget about the whole multi level marketing thing Primerica looks like just another decient company just like the rest. But with an added twist we not only sell certain products we sell our opportunity, that is to come work for us.
This is where I believe all the negative press on us comes from. Think about it this way, would you rather work for a company that allowed you to hire people, train them and make a cut of their business, or would you rather work for a company that didn't allow this, well at least for your first 5 years. This is the way I look at it. I am a University Hons Econ grad who has been trading stocks since the age of 15.
I had mutual funds since the age of 12 which were purchased for an advisor who took advantage of my familly by making recomandations that were best for him not the client. Anyway after loosing money for 3 years with him I vowed to never trust anyone to manage my money again and started stock trading at 15. I did very well but never trust a 15 year old to bank the gains lol. Anyway since this is my finest skill after university I decided to work in this business.
After appling for one position and being rejected, as well as having about 4 other companies try to hire me which I in time denied I eventually found Primerica. With Primerica when looking at investing which is my primery concern, out advisors are free to make their own choices, well at least in my office, which can be catered to the best interests of the client. So here I am able to make my own recomendations which are in the best interests of the clients, no quotas, no bs. I sit down with a client and I let them know if what they have is good or not with no agenda.
Then there is the whole, life insurence thing. We are to my best knowledge the only comp, that only sells term. In my educated opinion I believe term insurence is the right choice for 95% of cases. Just read any financial help book.
Anyway I believe term life insurence is best for people, this is insurence for a certain period of time when they need it most for the cheapest price. Ie children under 23. I never cared about life insurence when I joined this comp but that has changed since I've seen how other life insurence agents have takin advantage of lower and middle income famillies.
I am proud to work for Primerica and do something good. And even thou I suck at recruting, I know in time it will come, but on the other hand I am amazing at investing for people and I am positive that the investment choices I have made for clients are much better then they had before, most of which have proven this in a short time.