Is symmetry financial group powered by quility a scam?

SFG is an insurance MLM.

The lowest Google review for "quility" describes it as a scam and a MLM. See this thread:

https://www.reddit.com/r/Insurance/comments/nlwjuf/i_have_an_interview_with_symmetry_financial_group/ 

Honestly imo, any place that calls/sets up an interview immediately after putting in a resume is sketch.

Randomly applied as I was just going through 1-tap apply on Zip and was contacted within about 10mins. My resume is decent but damn that was fast. Any other place that has contacted me that fast was an MLM or something of the sort.

Tells me that people are flying in and out of their business.

I just got off the interview and the people don't even provide you with depth stuff about the training and the slides look fake that they show.

They are a great organization - like any business some that don't succeed always have arrows to throw - its just the world we live in. Always do a deep dive with anything you do, but Symmetry is changing the Life Insurance world and if you have the grit, determination and are coachable you will do fine. Its not for everyone, some don't have the mind set to work hard and resolute to run their own business - nothing is easy in life and if you are looking for easy this is not the place. Hope that helps!

Scam likely, guy named Ken just tried to tell me part time employees make 50-80k a year and veteran sales people make in the millions. Reject any of their calls.

OP Im late but it isnt a "scam" but it is an insurance IMO which is a form of insurance company (pretty much all insurance companies these days that aren't a captive agency like State Farm etc), but it is an MLM. Apologies for the wall of text but this might help people decide on if this industry is worth it from an "insider" at this very company.

It doesn't have to be an MLM necessarily. You dont have to "build your business" (get an underline/s), nor are you ever really pressured to in my experience. The option is there though and many people want to do so (hence the ads you see on linkedin etc). The money isn't inherently based off "building an agency" (although it can be) but business written by your own pen. Many MLMs are only profitable when you build enough people you're selling a product to under yourself. Youre not selling anything to other agents, but the ones above tou will get a cut of what you make. Thats what makes it an MLM, but you could argue its no different in a corporation (C Suite execs aren't exactly paid the share you are lol).

This isnt the same for all IMOs. Many have abysmal training as well and will pressure you to write down the names of people you know and use them as leads. Have never heard that pushed here. If you ever hear that anywhere, run. Some IMOs are like this but I think symmetry is one of the better ones. Im still not a fan of insurance sales let alone the IMO model, even sales in general (not my thing) but Im just trying to pay for school, and nothing else is going to allow me to do so with a flexible schedule. Since I work for this IMO while going to school and I'll lay out some very honest pros and cons for those who maybe came across this via a google search, or even you OP.

Just wanna start out by saying that I personally know people who make six figures. It probably (statistically) will not be you though. The guy who brought me in (hes a really solid guy but has experience in sales and the financial sector) was making north of $200k by business he was writing himself his second year. I helped run his accounts as a secretary while learning so I can verify this firsthand. Im not doing it as much as I should be due to school and other life circumstances, but probably will soon. I average about $5-10k a month through business written. I have no underlines, thats all just me calling and selling policies the old fashioned way.

Essentially, how it works is you have to pay for your licensing. Its kinda akin to how real estate agents operate. You do the tests etc and then a company holds your license. You can contract independently with insurance companies like Mutual of Omaha, but they will not take a look at you unless you have a massive book of business. All your leads (door to door really isnt a thing anymore, time consuming and ROI considering time is not worth it) are purchased by yourself and they vary considerably via cost and quality. Symmetry (which own Quilty HQ) sells some leads but imo the cheap ones are the only ones worthwhile while you're learning to sell. They are essentially a mix of dated cold and warm calls (they have better leads but there are better companies to purchase from and its definitely openly recommended). You could do your own advertising and prospecting yourself, if you're good with creating funnels and marketing and have some start up $ you could do well for yourself. Obviously most people would rather pay $30 for a highly vetted, new lead that is only sold to you as the ROI makes it worth it with no time commitment.

A thing im not a fan of is the pay structure. You start at 75% iirc. So 75% of the APV (annual premium value) of a term policy is what you will get. So say you sell a $100 APV policy (for simplicity's sake I'm using an easy low number but the average will be anywhere from $700-$1200 apv), you'll make $75 depending on the insurance company you write with and how they pay out. Pay goes up to 120% commission. This is jow the MLM aspect works. Say the guy who brought you in (your upline) is at a 110% commission rate. You are at 90%. You sell that same $100 apv policy. You will get $90, he will get $20. They get the split. I personally do not understand (I mean I do but I think its dumb) why you dont just start out at 100% given you are purchasing your own leads and everything but thats how it works. You gain 5% commission level by selling x amount in apv in a month or two. Thats the simplified way of explaining it. Obviously things like whole life policies are commissioned out differently.

Another thing to consider is the fact its a 100% commissioned business. There is a very steep learning curve unless you are already in the industry or in sales. I think something like 93% maybe more of new insurance agents are not in the industry after a year. Its tough. You have to be highly self motivated, learn how to talk to people and really hammer it out. Ive seen other agents come from selling cars and kill it, and Ive seen people do the same after a few months of trial and error with no prior sales experience. Ive seen much more just give up. Many from the latter group were expecting it to be easier and never really did the 300 dials a day you have to force yourself to do in the beginning to see fantastic results. It does get easier with time but it absolutely ass at first. It takes a certain person to get through the learning curve and really thrive with no prior experience. Almost a masochist. Its not fun.

If you have a family, lots of debt/living expenses and obligations with no big savings and no sales experience, I definitely do not recommend it. Realistically expect to make absolutely zilch and if anything be in the hole for a few months. Thats the norm. It can be shorter or longer depending on your work ethic, teachability, interpersonal skills and how much sales training you can absorb and then implement. Im not proud to say I do this based on the stereotype of life insurance agents, but it pays the bills and allows me to take a month off to travel etc. You could make $70 in 6 months and take 6 months and do nothing. You could live in Argentina or Thailand and live pretty comfortably off $70k (if you can deal with the time zone difference). It's great for remote work that doesn't require a degree. The trade off, of course is the high attrition rate, steep learning curve, and barrier cost (I prefer jobs you do not have to pay to get into lol). There might be better IMOs as far as initial commission rate and maybe you can find some that will cover your licensing. I do doubt any do the latter due to the high attrition rate.

TLDR: it is an MLM, its not a scam, probably one of the better IMOs in the industry but isn't easy and there are cost barriers (leads, state licensing/training, etc), a high attrition rate, and no salaried/guaranteed pay. The benefits are (if you can get past the learning curve) flexibility, no degree requirements, decent to great potential pay, and they have pretty solid training and resources. They definitely dont throw you to the wolves, at least my "agency" doesn't. Nonstop training calls and opportunities. It's ass though unless you love sales. They also are contracted with solid insurance companies so you're not duping clients with shoddy policies that wont pay out. Pretty much all the companies you contract with through them have at least an A rating on AM's Best, AAA on Standard and Poors etc. Its a fairly well regulated industry as well (E&O insurance is a thing for a reason). Definitely not for everyone.

If you aste confused that's a red flag. If you aste asked to pay is a scam. 

Did my interview all the way up until my offer with the Fitzgerald agency Company- who were under Symetry Financial Group. keep in mind they have only been operating for 2 years. Seemed like a good opportunity at first but the deeper I got into it, they wanted me to pay and sign up for a $80 study guide to be licensed in insurance sales, and pay for warm leads. Is it common for people looking to get hired by these sorts of companies to come out of pocket before starting work?

Symmetry Financial Group (SFG) is NOT an Insurance Company/Agency in any stretch of the immagination. Symmetry is a Lead Generation Agency, and NO-ONE that contracts for services with Symmetry does so as an employee, or a "contracted sub entity". All affiliations with Symmetry are on a "Fee for Services Basis", sometimes under the Guise of being on "The Symmetry Team". When you pay $$$ for Symmetry's Conferences, Leads, Group Sessions, Meetings, Consultations, and Endless $$$ Services, you soon learn you are NOTHING but a endless wallet for their corrupt marketing genious. Until you quit... Caveat Emptor.

I don’t know this company nor do I want to, but I do hate that everybody thinks MLM is a bad word. It really isn’t.

If people stopped calling it a job, it would be less scammy

Wake up people, independent sales isn't a "job" like a W2. A real estate broker buying leads isn't a scam any more or less than an insurance broker buying leads.

This is why you get pushback in the comments. Your gut feeling was just from thinking you were applying for a w2 job. Not because it's an actual scam.

MLM suck

I was reached out by them too and it’s crazy that zip recruiter lets them on. It seems like a perfectly fine company until they start talking about commissions only salaries and how you have to pay at least 250$ to get licensed 

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How the interview go?

Symmetry Financial Group (powered by Quility) and the agencies who operate under them, are 100% legitimate. They are a life insurance and financial solutions company.  In regard to, “they make you pay for stuff when signing up,” that is not accurate. Because the insurance industry is federally regulated, you are required to obtain an insurance license to operate. There is cost involved in doing that (just as there’s cost involved in obtaining any other type of education or certification required to perform a specific job), but Symmetry and their agencies do not license people and therefore do not profit from any investment new agents make in getting themselves licensed. The only other cost you may see is if you choose to invest in the warm leads Symmetry generates through their marketing efforts. Again, Symmetry does not make any profit on selling leads.  As a fully independent insurance agent, you would make the same choice to generate business. This is the basic operating expense of running a business. If you own a restaurant and you want to mail out printed flyers, you would pay a marketing company for a mailing list of addresses for people who they know live in the area and might enjoy your type of food. Buying insurance leads is not at all a requirement made by Symmetry, but rather part of the benefit in associating with a marketing organization bigger than yourself. Symmetry also provides unparalleled sales systems and training, world class technology, and data driven sales strategy. You could try to do it on your own as an independent insurance agent, but I would much rather have the support and infrastructure of industry experts like the ones at Symmetry.  As far as Multi Level Marketing is concerned, that is simply a way of organizing compensation for your efforts in contributing to hiring, onboarding, training, and mentoring other new agents (IF you CHOOSE to). MLM has earned a terrible reputation because so many of the businesses who operate in that way have, unfortunately either forced high pressure situations requiring you to build a team, they have promised you to, “get rich quick,” or they simply do not offer a quality product to sell at the root of their business. Symmetry Financial Group (and its agencies) are accredited with top carriers in the insurance industry - Mutual of Omaha, SBLI, Americo, American Amicable, Foresters, F&G, John Hancock, and so on. These carriers have been around for decades. There is no chance they would do business with a, “scam.”  I would consider yourself very lucky to have come across an opportunity to interview with them and then ask the real questions of yourself instead, like, “Do I have what it takes to work hard building a business? Do I want to share in meaningful and impactful work protecting the hard earned assets of families? Am I willing to pour myself into self development and take advice from a mentor who has been successful before me?” It is hard work and it’s certainly not for everyone, but for those who choose to go all in on their efforts, the income and opportunity for growth is truly incredible.

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Definitely NOT a scam. Insurance is tightly regulated. But… this is no no place for the passive or the meek! You have to have some moxy…you have leaders, but it’s up to you to do the work! Don’t think of entering if you don’t believe enough in yourself to knock out 4 to 6 solid hours of telephone time only to realize you aren’t quite as good as you thought you were on the phone. Once you figure it out, and once you become knowledgeable, it gets a lot easier…but don’t blindly wander in expecting to break even (licensing, finger prints, leads, etc) any faster than a real estate agent. Some make money right away, but it typically takes around 90 days to get rolling. But no… not a scam.