WFG vs Allstate

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WFG vs Allstate

Post by tsualum »

I am a new independent Life/Health agent currently with WFG. I do plan to become licensed in Property and Casualty as well. I am being recruited by Allstate but I don't know anyone that has had experience with Allstate. Of course the people at WFG think it is a great place to work. Anyone have experience with both companies? Either company? Please share your honest thoughts about working for either company.
d's insurance store
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Re: WFG vs Allstate

Post by d's insurance store »

I got my P&C start with the crooked 'A', but that was decades ago when the personal lines insurance environment was very different from what it is now.

You're being recruited by Allstate because you've likely got a track record selling life. That product is a very important profit center to Allstate and its compensation and reward structure is heavily influenced by agent life sales.

Allstate now runs an independent contractor program that requires new agency owner's to self fund start up and growth in the critical early years. The 'get' is likely to be close to $100K just to start up from scratch.

Life sales at Allstate are almost entirely dependent on P&C sales, and because you'll be limited to the brand name only, you'll have to be sure that P&C you sell is competitive. If it's not, you'll find yourself in desperate straights pretty darn quick. Consumers have lots of choices these days and a brand name will only carry so far if the rates are out of line.

Before you get seduced by some overanxious manager who has recruitment goals to keep their job, do a lot of checking around. Point your curser to online forum for disaffected agency owners stuck with Allstate. Also check out, an agents organization that does what it can with limited membership to aid agency owners.

I've tried to be neutral in what I've listed above, but truth be told, from what I gather (and I've been gone for 20 years), for most Allstate agency owners, life is an adversarial daily battle with a bunch of criminal thugs who care only about boosting corporate profits and very little caring about the sales force with money and career on the line, but that's just my opinion.
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Re: WFG vs Allstate

Post by lonestar »

Or, you can locate an independent agent in your area that already has the hard to get appointments, including Allstate. Team up with that person, and trust me, you will make more money on the Independent side vs. the captive side. And, keep in mind, since you DO NOT own your own business(agency) with any captive carrier, it is no different than being a producer for an IA(Independent Agent) in your town. And, you would not have all the debt, overhead, rent, etc. IF you like to sell, it will be a proverbial heaven for you. I have been on both sides. IA is the way to go. Higher close ratio, therefore better retention, higher commissions, and on life, about double commissions on the IA side vs. captive. Do you homework.
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