career in what? trading? you must be kidding ... google it. read first few links. not much of the difference between selling herbalife and what primerica's offers. same bs. http://en.wikipedia.org/wiki/Primerica Allegations that Primerica exists primarily to gather new recruits rather than provide financial services are common. When recruited, Primerica charges a $199 fee to help pay for state licensing fees which cost a total of $600-700. The recruiting system of the company is also part of the criticism regarding Primerica Financial Services. In certain offices (all of which are independently operated), people who think they are coming for a paid position interview discover that they are at a business opportunity meeting about the company. Many individuals report that there is a greater focus on recruiting than on actually offering financial services. In doing so, they fall under the category of multi-level marketing. Recruiters are reported to often not take "no" for an answer, and persist in attempting to recruit uninterested individuals.
Avoid them! I used to do continuing ed for Financial services reps that needed insurance credits for their license renewals. About 1/2 the time I would find a primerica rep at the back of the room writing down the names of the attendees (so he could later "recruit" them ).
Stay away, unless you don't mind trying to sell and/or recruit your relatives and friends. After which they will avoid you like the plague.
They offer no clients. You have to go and get your own customers and they make money off your sale. Once you try to sell to your friends and relatives and then work past your immediate contacts, it gets impossible to sell and you fail as is most often the case.
It's a network marketing business. Like any other business they take a lot of time, effort, and tenacity to build. You can make money with it, you have to decide you want to do it. I wonder how much more lucrative this would be, compared to a financial planning business?
From what I have seen, their typical client is someone in the mid to lower income brackets who buys term life insurance and higher cost front end load mutual funds. Difficult to build a financial planning practice made up of folks with little or no liquid assets. They don't tend to have much financial planning expertise. Alot of the effort is not towards getting people to plan for retirement as it is to recruit individuals into their "business opportunity" network.
Hard to know what the hell to go into these days. In the meantime, I will just trade my own account. Does anyone know of a place that will allow you to have an RIA held there and fees taken out of your clients accounts that doesn't require a major book of business to be set up? (atleast initially).
There are a number of BD's out there who require a minimum amount of revenue (~$10k) who will let you set up an RIA through them. Check with the trade magazines or the net for listings of BD's and what their minimum requirements are.