Life Health Professional forum is the place for positive industry interaction and welcomes your professional and informed opinion.

Independent advisors may be an endangered species: Sun Life director

Notify me of new replies via email
Life Health Professional | 02 Sep 2016, 08:15 AM Agree 0
Changes in the advisory business present plenty of challenges and opportunities, especially for independent advisors, says Sun Life Sales Tools director
  • | 02 Sep 2016, 01:33 PM Agree 0
    When clients start seeing the outright robbery that has been going on with Large companies, you might find that you are the endangered species. Compliance is easy with software. Trying to tell the client that you are worth $$$ is much more difficult. Clients are much better informed than you give them credit for.
  • politely nodding now, later shaking head | 04 Sep 2016, 04:03 PM Agree 0
    Interesting comments from an Employee at an Insurer that features Career Agents (Conflicted) and who, by the way, just recently received LOWER Marks FROM their Advisors across various categories (including compliance), in a recent Advisor Poll. (InvestmentExecutive).
    Even more poignant is that the article reveals that the comments were made at a conference held by the Software Company that partnered WITH this Insurer to create [their] New software? (Conflict).
    So let me get this straight, a former customer service rep who has worked his way up through one (career agent) insurer, but at no point in time was ever an agent, or a independent broker, is now pontificating that the latter is soon to be endangered?...because of compliance requirements and the costs to implement? [Sorry, I can't even make this stuff up.]
  • Lifer's Lament | 05 Sep 2016, 09:46 AM Agree 0
    I've known Giovanni for a long time. He trained me on the CRM software in my first stint as a career agent with SLF. My financial services career has been interesting - I pivoted from front line sales to head office resource for another insurer. My second stint with SLF as an advisor came about when I was wined, dined, and wooed back to the field with promises of "fast tracking" my contracting due to my industry professional experience, plus being given a base of existing clients to work with at startup.

    When I showed up to start working as Advisor 2.0 - Day 1, I discovered a) I was "fast tracked" in contracting so my December end of campaign year hire would put the financial centre over the top in recruiting goals, resulting in a nice convention trip / recognition for FC the management team; b) I was lumped in with other "newbies", forced to attend kool-aid rah-rah weekly sales meetings with other "financial advisors", most of whom didn't have a clue what they were doing, or were replacing in-force life insurance contracts in order to make some $$$ at pay cutoff; and c) conserving UL policies in my assigned client block that were underwater due to under-funding and improper advice given at time of sale. I like Johnny, he's a good man, but he's been doing his thing for a while, and he's probably seeing that life is a bit dimmer today under the Sun.
  • Thrilled To Escape Sun Life | 03 Oct 2016, 10:43 PM Agree 0
    I've known Johnny Chiello for a long time too, and 10-15 year ago, when he was a trainer, he was a fantastic asset to the Clarica/Sun Life sales force -- but sadly, as he rose through the ranks, he devolved into a pathetic corporate sycophant. And his terribly myopic comments in this article are further evidence of his deterioration. Yes, Sun Life provides good tools for their sales force, but they are limited in comparison to the much wider range of tools available to independent advisors, and the costs of being a Sun Life advisor are much greater than the costs of being an independent advisor. In other words, if you join Sun Life, you'll pay more to get less -- similar to the products you'll be forced to sell. In addition, Sun Life provides almost no training on the tools Johnny is touting in this article, and their technical support is horrible. Trust me, I've been on both sides of the fence, and there's no comparison -- Sun Life is terrible. And deep down, Johnny knows it.
Post a reply