Old Mutual Life Assurance Company
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Old Mutual Life Assurance Company Pay & Benefits reviews: Financial Advisor

Job Title
Financial Advisor458 reviews
Location
South Africa458 reviews
Found 139 reviews matching the search
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4,0
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Commission earner
A basic salary should be offeres for years of employment and commitment when building your practice. Cannot survive on commission only and therefor the loss of good experienced staff and replaced with young in experienced staff
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4,0
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It was workable
.Payment structure kept change resulting in us not getting paid at PFA.I would go back but in a different department.I loved the challenge but PFA no.
Pros
Working hours
Cons
Salary
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2,0
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Zero
Don't do it, not a necessary place to work for, management us bad and you can go for months with no pay. The support system is not good and everyone resigns.
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5,0
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Working there was stressful but als co-operative
We can support our family and be able to lwork individuals and be able to perform well. Working there as a financial advisor was the best job I ever had. I meet my target every week and every month. I get my bonuses every 3rd month. My job was challenging but I joy doing what I was doing without any push
Pros
Good salaries
Cons
Good benefits
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4,0
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Good company, great benefits
It's a good company to work for, you are your own boss u decide how much u want to earn, you have to build your own client base though, it will require you to get out of your comfort zone.
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1,0
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Stressful and Non paying job.
Working at Old Mutual is the worst thing one can do... especially if you are qualified in other fields and end up working there due to lack of employment. You do all the ground work and top management gets all the fat cheques. You dont get paid some months and you still expected to perform with no basic salary or a salary at all. You are sold dreams when you go through the interview process and you only get to learn the spade work when you start working. Leaving Old Mutual mean debt follows you. They make you pay to the last training and meals they served you there. For such a big Company, it is actually treating it employees bad. All that leads to severe stress, non performance and the lowest rate of employee retention. 90% Employees resign from the 4th month normally.
Pros
Upmarket, beautuful and well maintained offices that end up empty
Cons
You have flexible working hours.
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4,0
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Fast-pased, fun environment
Challenging but secure environment. There is room for growth both personal and as an employee. Hard work- long hours and extra efforts put but with great rewards.
Pros
Career development programs
Cons
Long hours
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4,0
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Balanced
Stressful but manageable. Flexibility, only stress is going out to the field to look for clients. Salary not guaranteed if don't meet your monthly target.
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3,0
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I would not recomemend to any one to work under a broker
I would not recommend to any one to work for old mutual broker, you subimit lot of work only to get a change, no opportunity to grow no traveling allowance no benefits it a waste of time
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3,0
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I like the company.
The company is a good company to work for however the salary is poor. The atmosphere is good. It's diverse. If they work on the academy and ways to keep them it will be better.
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5,0
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The hardest part of the job is when you don't find clients
I loved working there so much, even when you don't find clients you don't feel discarriaged, mangers are very helpful indeed, and benefits are worth it
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3,0
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You get good and bad times when you work there
Working at old mutual I can say its very stressful but pays very well because you get paid basic of about R8000 and also get paid bonuses for the work you put in.
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4,0
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Old mutual is one of the best companies that i want to grow and develop into
Old mutual is a good company with lot if benefits both for now you currently working and for refinement . Working at old mutual you need to be able to adapt easily beacuse is a very fast pased environment.
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5,0
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Old mutual is a good company that empower employees that are willing to be empowered.. They have a humanity culture
Its good to work for old mutual. If they can not put tooo much pressure and treat employees to fire them And another thing they employ inexperienced advisor and pay them more salary tgan experience advisors.At client service there must be a booth number that is special for the advisors to do their claims Coz when we want to claim they treat us like clients we must stay on the Queue queue the queue
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4,0
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Fun work place and Productive
Productive, fun and stressfull at the same time. I have learned how to work under pressure and in a team. I have learned how to manage time, learned many ways of handling challenges, and leadership skills as well. The hardest part about the job is to meet the target and keeping your thousands of clients in your books. The enjoyable part are outings, the functions and team outings.
Pros
Free Lunches and SNT
Cons
Long hours
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4,0
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Good experience
Sales skill and closing tips was the best lesson i had at the institution and team work. The benefits were the best too, relationship with people was the best
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4,0
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Work Ethic
Leveled plainfields for new advisors, trained and gradually assisted to learn the profession and be the best at it, while making good sums o commission.
Pros
Commission
Cons
Poor Management
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1,0
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Very unfair pay rules
In 2019 old mutual has changed their advisors pay structure where they keep your money in their account for upto 3 months before they pay you for the work you have done. It's the only company I know of that does this. We do not have a say and we cannot survive or budget like this. Ridiculous as this is already a stressful job as it is.
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3,0
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financial advisor
old mutual its a good company but the management its bad sometimes when it comes on treating the employees , it offers good benefits and fun it gives employee vibe and good times at work and feel like home.
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3,0
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Target based
The fact that ones salary is solely based on their monthly target is ridiculous because a person could go a full month without a stable income or anything
Pros
Na
Cons
No salary
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3,0
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More of sales and targets than Financial advice
This is good for the first 3 months as you get paid however this should not be your long term resort unless you are great with sales, meeting targets and you have a large portfolio of people to sell products to.
There are times you will deter from actual financial advice just to make a sale so that you can make target. However you will learn a lot here
Pros
Flexible hours unless there are meetings
Cons
Target based salary, you may earn no salary at all
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Overall rating
4,0
Based on 1 422 reviews
5
546
4
432
3
345
2
62
1
37
Ratings by category
3,7
Work/Life Balance
3,4
Salary/Benefits
3,4
Job Security/Advancement
3,5
Management
3,8
Culture