Lenny - if that is really as far as you can insert the male ferrule, then it looks like an accident waiting to happen to me and is most definitely not right. Especially so in my view, given the unforgiving nature of that particular rod model.
It is truly, truly ridiculous that premium rod makers send out rods that fit as badly as that and if it is easy for you I would send it back. Personally I have seen Smith and Patriot Design as big offenders on this front in the past.
Your other options are:
1. Make sure the female ferrule is completely clean and free of any debris stopping a perfect engagement of the male ferrule (unlikely).
2. Very, very carefully sand the male ferrule using extremely fine grade sand paper. Do a tiny bit at time taking great care to sand evenly and not to remove too much. If you do a forum search you will find a fair bit of advice on this posted in the past.