Twizzi · 2024-03-30T08:09:33.885286Z

Does anyone have experience with MLP? $MLP Both as an employer and as a client ?

1Yr

They were already advertising super-aggressively at our university in the 90s. When I was just starting my career, I once went to a "consultation" and the guy wanted to sell me some obscure insurance (life combined with occupational disability and all sorts of bells and whistles). Although I didn't know much about it, I fortunately kept my hands off it. In my opinion, this is a structured sales company like many others, which customers should stay away from. Its unique selling point seems to be its focus on academics.
However, I have to say that my boss has been with MLP for many years and is very satisfied. I just don't want to know what this all-round carefree package has cost her 🙈

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Twizzi@Twizzi

1Yr

@randomdude Yes, I had that feeling too. I'm quite skeptical and not really convinced.

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Mc_Velli@Mc_Velli

1Yr

I have had very bad experiences.
In my experience, students (like me at the time) are mainly lured in by dubious competitions or Excel seminars. Then the offer of free "financial advice", which amounts to opening accounts with MLP under the 3-account model. My broker's main aim was to sell me a Riester pension or to cancel the good and inexpensive life insurance policy I had already taken out with Allianz as a student in order to take out a new one with MLP for a brokerage fee.
Fortunately, I didn't end up being sold anything and only kept the promised €10 Amazon voucher😂

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Twizzi@Twizzi

1Yr

@Mc_Velli hey but at least 10€ Amazon 😂

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Mc_Velli@Mc_Velli

1Yr

@Twizzi Yes, at least they were invested in a book 😂💪🏼

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FIRE55@FIRE55

1Yr

Hi @Twizzi - I have been an MLP client for over 25 years and am satisfied with the advice and selection. However, I don't use MLP for investments, but for property and health insurance/insurance.

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Twizzi@Twizzi

1Yr

@FIRE55 super thank you

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Daniel@Dr27589

1Yr

Already had many concepts on the table. The result: mixed. There are definitely employees there who do a good job, but there is often a lot of nonsense. If you ask questions, it quickly becomes thin. So as with many other brokers/agents/strukkis etc. - You have to have the right advisor.

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Twizzi@Twizzi

1Yr

@Dr27589 I'm just a person who really likes sales. I can say that I do my best to give honest advice and I expect the same from the company.
How are you set up to be 100% self-employed and independent?

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Daniel@Dr27589

1Yr

@Twizzi Sales as such, or explicitly related to MLP? If the latter: Why?
I am self-employed and independent of any shareholdings or similar. - I am free to decide what I do and how I do it.

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Twizzi@Twizzi

1Yr

@Dr27589 sales in general. I really enjoy advising people and being active during the day.

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Daniel@Dr27589

1Yr

@Twizzi If you are working for MLP, then it is also part of honest advice to mention that you will be employed there as a commercial agent who (by law) is entrusted with brokering their business. Even if the MLP presents itself to the outside world as a broker, some large insurers hold not inconsiderable stakes in the company. Whether the whole thing is still transparent and you can really position yourself as a broker on the market in this way, I'll leave it at that.

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Twizzi@Twizzi

1Yr

@Dr27589 yes, you are 100% right

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Twizzi@Twizzi

1Yr

@Dr27589 Perhaps another question, if you were to compare MLP with DVAG. Would you say that MLP is a bit ahead?

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Daniel@Dr27589

1Yr

@Twizzi In my opinion, no performance is better than the dvag. Is that your benchmark? You wrote about other requirements in the first comment 😅

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Twizzi@Twizzi

1Yr

@Dr27589 no 😂 but I have a picture of DVAG and am now trying to classify MLP there. If you'd said you'd put them in the same place, it would have been done for me straight away.

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Daniel@Dr27589

1Yr

@Twizzi At mlp you are not driven like a dog to recruit new employees. That's good. As for the rest, I think there are better opportunities to build something up in the industry. What makes this company interesting for you & what kind of job offer do you have?

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Twizzi@Twizzi

1Yr

@Dr27589 Yes, I've often thought that too.
Well, I'm still a student at the moment, having completed vocational training as a finance/insurance clerk. I have about 3 years of work experience in the field.
MLP approached me with the offer that I could work as a consultant during my studies. I would be self-employed right from the start and would of course have to take care of new clients myself. But I would be accompanied and supported from start to finish.
The way it was offered to me, it sounds like a good, lucrative extra income during my studies.

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Marcel@MarcelGova

1Yr

I wouldn't recommend anyone to work there. Lots of black sheep there. Mediocre training system. You would be a sales representative there, so you often can't offer the customer the best product. Depending on where you are, you are forced to show good figures, so many advisors end up selling crap like Riester pensions. If you like sales, then try to get into an independent brokerage. There are always one or two companies in the city that earn a fortune and still give customers good advice. I would recommend TauRes to gain experience.

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Twizzi@Twizzi

1Yr

@MarcelGova Hey thanks a lot, I'll take a closer look. I'd actually never heard of TauRes before. Thanks in any case :)

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Marcel@MarcelGova

1Yr

And I would completely avoid something like debeka, it's easier to get customers, but the insurance products are never all good. Accordingly, you turn the customer into some shit

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Steven S.@stevensimons

1Mon

Hey Twizzi, first of all: I'm a broker in the MLP network myself. So of course I have a subjective opinion. However, much of what is written here in the comments is simply wrong. I'll make a factual correction...

You cannot be "advised by MLP", and there is no such thing as "THEY" often / always advise X, Y, Z. Why? All consultants at MLP are self-employed brokers who act as commercial agents in the network. They can therefore decide for themselves how they advise and what they broker.

Also, "those at MLP" have never done any aggressive advertising; only individual consultants can do this on their own account. In the long term, however, this has not been crowned with success and is highly criticized and frowned upon internally. Since MLP as a group is by far the largest broker in Germany and with 60 billion assets a real size, the consultants (around 2100) seem to do a (very) good job collectively. Exceptions prove the rule, as everywhere. Unfortunately, these then attract negative attention and put others and the entire financial advisory sector in a bad light.

From personal experience, I can tell you that the most reputable and professional advisors are the most successful in the long term. A big advantage is that MLP is not a structured sales organization and the large majority of its business model is not based on adding new advisors, but simply offering quality client advice ... if you have any questions, please contact me, Steven Simons

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Deleted User

1Yr

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Twizzi@Twizzi

1Yr

@Michael-official well, you can also take the Deutsche Bank chart, which doesn't look much different 😅

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Twizzi@Twizzi

1Yr

@Michael-official I'm more concerned about it, I got a job offer from them but I don't want it to end up being stuff like DVAG 😅

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Deleted User

1Yr

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Twizzi@Twizzi

1Yr

@Michael-official Yes, I've already done everything and found nothing negative.
I think I'll listen to the offer in person and then decide how I feel.

Thanks :)

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