MetLife Cuts 2,500 Advisers – Businessweek

MetLife has about 5,000 advisers who sell insurance and investment products, down from 7,500 in February of 2012, Eric Steigerwalt, head of MetLife’s U.S. retail business, said at a May 21 investor day presentation. The New York-based firm lowered the number of agencies to about 60, from 85, he said.

“We’re not financing advisers who, frankly, were never going to make it in this business,” Steigerwalt said. “Our productivity is way up and we’re saving a lot of money.”

via MetLife Cuts 2,500 Advisers Seen Lacking Chance of Success – Businessweek.

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