Mutual of America FAQ

Pros

Excellent Benefits package starting on day one

Cons

salary is slightly below average compared to similar investment firms

Pros

Great work life flexibility. Car allowance. Great medical coverage, 401k match and a generous pension. The company wants to to achieve your goals, but if you have a down year, you're head's not on a chopping block. If you work in a producing office your bonus could be substantial ($35k+) my largest bonus was $45k. Base pay is OK but $5k/yr raises are the norm if you hit sales goals. Decent products for the clients they regularly service - mainly non-profit employees with modest incomes. Incentive trips are second to none - spare no expense.

Cons

If you're in a non-producing office, this can reduce your bonus. Technology is lacking. More of a transactional position vs building relationships. Not dealing with the most sophisticated of investors can be frustrating - expect a lot of panic selling calls during a market downturn. The only path for substantial income growth is through a management track. Products are not designed for clients with any real $$$. High fees for a limited menu of funds that you're "not supposed to give advice on."

Advice to Management

Add an actual advisory service for your clients with $250k+ in assets

Pros

Great health and pension benefits

Cons

A lot of Nepotism, no appreciation for employees with much knowledge , don’t treat employees with respect

Advice to Management

Treat your employees who has worked there with respect and appreciate their years of knowledge of what they do

Pros

Defined Benefit Pension, company car, free lunches at Boca training, good ethics and morals, nice offices, good learning and proving ground. Healthcare plan is one of the best in the industry.

Cons

No open architecture, fund selection, no managed money options, brokerage. Higher cost funds in IRA product line. Company could enhance its website, reports, employee training, and financial wellness programs for its clients.

Advice to Management

Enhance company training and continue to modernize fund options and alternatives. Comprehensive financial planning and more robust financial wellness curries for employer clients would be very positive and greatly received. Continue to enhance benefits and employee wellness options.

Pros

The company has a great purpose and mission. The benefits are great.

Cons

Zero training. I sat in an office with no interaction for 4 weeks. The first 3 weeks I sat and tried to learn what I could about the systems used and the current clients. Then I was told I needed to take an additional insurance certification. I was told I had until the end of the year to complete. I was yelled at and belittled when I completed it in early December. There was no guidance or direction. Its a sales role which I enjoy but any resources given are outdated and not very helpful. I was so excited about this job but my soul was crushed after I realized there was no help in sight.

Advice to Management

I think they will continue to grow in the niche they work in but there are reasons why they get smoked by the big guys in the retirement industry. Call their customer service line and you will understand what I am talking about.