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Report: #1480469

Complaint Review: Signature Resources Insurance and Financial Services Inc - La Jolla CA

  • Submitted:
  • Updated:
  • Reported By: Robert — San Diego CA United States
  • Signature Resources Insurance and Financial Services Inc 4275 Executive Square, Suite 400 La Jolla, CA United States

Signature Resources Insurance and Financial Services Inc MassMutual Pacific Coast Robert Hubbard Geoffrey Kaltenbach Greg Kaltenbach Michael Yoffee False promises, never reimbursed, stole money from agents La Jolla CA

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I recently left Signature Resources Insurance and Financial Services, which also operates under the MassMutual Pacific Coast brand, after over a year of employment with failed promises and theft of wages earned.

During the interview I was told, in writing (and I confirmed it was the same for my colleagues), that I was to have been reimbursed for my licensing requirements for the position. I gave up asking for it after many failed attempts to get it. No one else that I know received their reimbursement either. Michael Yoffee, the managing director would always tell me he’s working on it. Never happened! By the way, he previously was fired from New York Life for committing commission fraud there.

The employees were encouraged to build our client base through events. My co-workers and I held numerous events, many of which we were told we would be reimbursed for (we had to pay upfront for them), but this never happened either. These totaled between $100-$1,000 for each event, depending upon the event and the number of clients we each brought.

We were all working 60+ hours a week, paychecks kept getting delayed (sometimes for months). Some cases I never got paid on. Because of this the employee turnover rate was extremely high and the moral was in the tubes. And when people would question their pay issues the two co-owners, Geoffrey Kaltenbach and Greg Kaltenbach, would just fire them for made up issues. It’s my understanding from some of these former employees that there are numerous employment lawsuits.

I was encouraged by Michael Yoffee, the managing director, to partner up with Robert Hubbard, the firm’s associate managing director, on some larger client cases. Robert was unprofessional, and he acts like a know-it-all, though he shows no concern for the client’s wishes and instead just brags about how much money he makes. I found out the hard way though, that he makes a lot of his money on accounts that are orphaned from employees that have left, and by stealing from other reps as he did to me. A former employee quit after he had partnered up with Robert Hubbard for similar reasons.

My final breaking point was after questioning multiple times why I hadn’t been paid on certain deals, to then co-host seminars at the University Club with Robert Hubbard, which I ended up footing the bill for and for which Robert took the commissions for. Though my co-workers warned me, I paid for the full amount of the events as Robert asked me to take care of it and he stated he would reimburse me later. Didn’t happen!

Then when we closed client business from those events, we would enter the paperwork into the system with us both tagged for sales commission purposes. I later learned after not getting paid on them that he had pulled the original paperwork and re-submitted the paperwork with just his name tagged, hence the reason I wasn’t paid. I’m confronted him and was told he forgot to tag me, but he never repaid me for my half of the commissions. Michael Yoffee, the managing director, Robert’s boss, once again told me he’d work on it, but nothing ever transpired to remedy the issue. And when one would complain to Robert, Michael, Geoff or Greg, they’d just push the blame to each other and you’d end up in an endless circle of “oh, he’s working on it.”

The agency doesn’t care about its people. The only good managing director, Earl Seitz, quit. The CFO was only there for a few months and she quit when we all started complaining her about pay issues. They only care about money in their pockets at the expense of taking from their employees. And I think it is safe to say that most who have worked there actually lost money during their tenure than they made by working at Signature Resources Insurance and Financial Services.

This report was posted on Ripoff Report on 06/15/2019 06:15 PM and is a permanent record located here: https://www.ripoffreport.com/report/signature-resources-insurance/la-jolla-ca-massmutual-coast-1480469. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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