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Frequently Asked Questions & Answers
What makes Whipple & Associates different?We’re successful for many reasons. However, we really excel in the following areas:
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What type of person are we looking for?The ideal candidate is a motivated, entrepreneurial professional - someone who wants to take their business to the next level or build one from the ground up. The ability to network, develop centers of influence and call prospective clients is essential. We also want someone who is a good fit for our agency. Each candidate has the opportunity to meet with a number of different agents during the interview process. Back to Top
What if I don't have a finance background?A background in finance is helpful but not necessary. We have an extensive training program that covers all aspects of the business, including product knowledge, financial planning strategies, economic environments past and present, sales processes, developing your business, and managing client relationships. People’s success depends more on developing a good work ethic, interpersonal communication skills and the right attitude for sales than it does learning the specifics of the financial services business. Back to Top
What is your training program like?The training program takes place in 3 phases - Pre-Contract Training, Whipple & Associates New Agent Sales Training & MassMutual’s Blue Chip Series - and consists of on-site classroom discussions, outside programs, computer training, reading, self-study, licensing, and other activities. An emphasis is also placed on working with other agents on joint cases. Back to Top
How do you build a clientele?While there are many ways to develop new business, we've found that referred lead prospecting works best in our business. We position ourselves for referred leads by developing centers of influence. Some of our associates develop new business via the following:
A significant amount of time in training is spent teaching the proper method of referred lead prospecting. Back to Top
What licenses are required?Life & Health and Series 6 & 63 licenses are required. Whipple & Associates will facilitate the licensing processes and cover all fees. Prospective agents must pass the Life & Health exam during Pre-Contract Training and are expected to obtain Series 6 & 63 licenses within 90 days of their contract date. Please Note: As per the NASD, a Third Party background check is required and will be conducted prior to contracting with MassMutual. Back to Top
What about compensation and fringe benfits?Ultimately, financial services is a commission-based career. Making the initial transition from a salaried to commission-based position can be stressful. Our goal is to allow new associates to comfortably get into the business. The typical compensation package includes a monthly salary (36 months), commissions, and bonuses. Compensation packages are tailored to the candidate and put together on an individual basis. The commission structure is somewhat complicated because career agents receive income from various sources - core (MassMutual) products, equities, other insurance carriers products and Group Benefits Solutions (group/employee benefit plans). Commissions vary from product to product are paid over a number of years (first year commission followed by renewals). At the beginning of the 4th year, all earnings are commission-based. For income tax purposes, MassMutual agents are independent contractors (file Schedule C). For the purposes of social security and fringe benefits, career agents are statutory employees. New associates are eligible to participate in the fringe benefit program the 1st of the month after their contract date. We will review the compensation structure, validation levels and performance goals at an appropriate time. Back to Top
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* Securities, Investment Advisory and financial planning services are offered by duly authorized registered representatives of MML Investors Services, Inc., member SIPC |
