Mass resignation of financial advisors

[sanjayiru]

I heard from my advisor that advisors from manulife and AXA resigning en masse. What is happening? Where are they going?

 

[no_faith]

..Where are they going?

jump.

 

[Qantas]

jump.

.....mrt....

 

[fishbuff]

I heard from my advisor that advisors from manulife and AXA resigning en masse. What is happening? Where are they going?

insurance agents are NOT FINANCIAL ADVISORS!!
period!!

 

[Narong Wongwan]

My brother is a financial director used to be from prudential.
AIA offerred him a million bucks to jump over with his entire team. Machiam kena toto man. There is alot of such poaching going on in the industry now.

 

[Rogue Trader]

normal attrition in the banking/finance sector. i've heard thru the grapevine that UOB is now hiring aggressively like how Stan Chart was 3/4 years ago.

 

[zuoom]

is business so good now??

 

[Thick Face Black Heart]

My brother is a financial director used to be from prudential.
AIA offerred him a million bucks to jump over with his entire team. Machiam kena toto man. There is alot of such poaching going on in the industry now.

A lot of it is actually hogwash.

If an agent jumps ship, he/she may be offered up to quarter of a million bucks, depending on past performance. Problem is, it is not outright cash; the money is actually forward earnings deducted from the future income that the agent generates for the new company. The contract will stipulate the agent must generate a total income equal or exceeding the "offer amount" within a stipulated timeframe, say 3-4 years, or else, he/she will have to PAY BACK the difference.

It is nothing more than getting 3-4 years salary upfront. Of course, those looking to buy property/vehicles, etc, will benefit. But the stress will then be on you, 'cos next few years must work for free, if you don't produce, you will kenna clawback.

 

[Rogue Trader]

is business so good now??

actually now is the best time for big companies to hire since wages are low.

 

[Soul_Reaper]

My brother is a financial director used to be from prudential.
AIA offerred him a million bucks to jump over with his entire team. Machiam kena toto man. There is alot of such poaching going on in the industry now.

No wonder these past few weeks my agent (ex-Prudential) has been pestering me to upgrade / take up new policies.

 

[garlic]

actually now is the best time for big companies to hire since wages are low.

It has been this way for the past 10 years.. low wages..

 

[Dime a dozen]

My pretty advisor from AXA jumped ship too. Reason - she lost faith in management.Lack of direction and not consistent. She went to AIA too. Seemed a lot of her colleagues went over or contemplating to go to AIA.