Unlimited earning potential. Great flexibility. Clients who value your advice. The potential of owning your own business someday. All can be yours as a Mutual of Omaha financial representative.
The path to becoming a financial representative begins with a 30-day paid training period.
During this time, candidates work to obtain licensure and receive classroom-based instruction.
“The primary purpose of those 30 days is to get them licensed in life, health and annuities and bring them up to speed on our systems, processes and business practices,” said Mutual of Omaha Senior Advisor Network Recruiter Ashley Pieper.
Benefits of a base salary
Those who successfully complete the training will be promoted to be a financial representative. In addition to receiving a base salary, they can also qualify for monthly bonus opportunities and employee benefits.
“This compensation structure is one of a kind for financial representatives,” Pieper said.
In fact, the compensation most employers offer financial representatives doesn’t include a base salary or benefits. Many offer:
- Straight commission when the rep receives a percentage of their total sales. No extras.
- Draw against commission when the employer provides a stipend (such as $1,000) to help cover expenses. The stipend must be replaced before the rep can earn commissions.
Pieper said both forms of compensation make it difficult for reps who are new and trying to build a clientele. Plus, sales are unpredictable. Some months may be lucrative while others fall short.
“This opportunity allows financial representatives to focus on hitting and exceeding activity metrics while having the financial stability of a base salary and benefits,” Pieper said. “Creating and enforcing habits is critical for the long-term success of individuals in the industry. That’s why we have a strong emphasis on it throughout their career.”
Skills you need to succeed
So, what type of skills and experience is required?
“There’s a common misconception that financial representatives must have a ton of experience in financial services — or extensive knowledge of the stock market,” Pieper said.
While it’s good to have a working knowledge of the financial industry, strong relationship skills are the most essential trait for a financial representative.
You must possess a genuine desire to guide and help people, Pieper said.
“It’s important they be someone who’s wildly driven by doing what's best for others and, at the end of the day, they’re proud knowing they've done everything they can to help another person.”
How to join this exciting program
If you’d like to join Mutual of Omaha’s financial representative training program, this is the process you’ll follow to get started:
Step 1: Application — Apply for a trainee position listed on our website. Once we've received your application, we’ll do an initial review and be in touch with you shortly thereafter.
Step 2: Initial screen — We'll conduct an automated phone screen to get to know you beyond your resume.
Step 3: First interview — At this point, we’ll take a deeper dive into your background and experiences and give you the opportunity to learn more about a career with Mutual of Omaha Advisors.
Step 4: Assessment — This online assessment lets us compare your strengths to those of our successful financial representatives.
Step 5: Second interview — During this interview, you’ll learn more about our culture and expectations. We’ll also explore situational-based questions to determine your suitability for this position.
Step 6: The offer — You’ll receive an offer and, if you accept and pass our background check, we’ll welcome you as a member of the team and prepare you for training.