Are FMOs Necessary?

[WinoBlues]

I don't even really disagree with you, I just thought it was funny because if you skim it then it reads "the only thing they can do is give you higher commissions" then a few lines later "but they're basically useless". It's just funny, fortunately for recruiters that one thing they do is the one thing most agents really want. I think when agents have uplines that give them pretty low contracts they assume that going direct is the best way to solve that when the reality is usually to get the highest payout they need to go through the right recruiter/upline/fmo.

I am probably starting to sound like I am on the take with Pinney, but let me use them in my example. Recently I sent a few larger cases through on of me larger FMO. their case management basically consisted of forwarding underwriting information to me. Information I already had from the company website. They sucked but I have a pretty high contract with them. Now contrast that with Pinney, I have lower contracts with them but they handle everything. I am sending more and more to Pinney at the point I am they are what I need. The FMO that I sent those other cases through is getting less business. Now these are Traditional so I have multiple numbers for the same companies I can pick and choose where I send my business. Unlike FE companies that are Butt buddies of the FMO and make you captive to an upline unless you get a release. IMHO

 

[Josh]

I am probably starting to sound like I am on the take with Pinney,

I've heard nothing but good things about Pinney. From what I understand they've made huge investments in giving agents a quality experience. If a company is doing a good job, no reason to not publicly point that out

 

[WinoBlues]

I've heard nothing but good things about Pinney. From what I understand they've made huge investments in giving agents a quality experience. If a company is doing a good job, no reason to not publicly point that out

Price/comp do not equal value to me. I believe the same in agents. I am a better value than many other agents, in my own mind anyway.

 

[TwiLight]

I am a better value than many other agents, in my own mind anyway.

Which mind is that? .....

 

[WinoBlues]

Which mind is that? .....

Mine. As damaged as it may be.

""A mind /ˈmaɪnd/ is the set of cognitive faculties that enables consciousness, perception, thinking, judgement, and memory—...""

Mind - Wikipedia, the free encyclopedia

 

[CALTCAgent]

Are FMOs really necessary?

The way they operate today, for the agent, the majority of time they are a waste .

One issue is that unlike an agent, they have very little regulating what they can and can't represent to their prospects, which is us. They constantly misrepresent, over inflate, lie, call it whatever you want. This is my experience. They have an overall lack of transparency with many things. This tends to waste a lot of agent time when trying to evaluate a good fit. Just look at how many posts are on this subject.

On top of all that, they have protection. The release policy allows them to operate in a non capitalistic manner. For that 6 mo. to a 1yr. you are stuck in the contract and they know it. There is no "survival of the fittest", you can't leave. It is all about getting you under contract. Then off to the next.

I can only think of a few times an FMO really stood out to me as adding value. Problem is, that usually changes.

Just my 2 cents.

 

[Newby]

I use Jeff Root at Pinney for term cases and he is very good. I've got a large term case dragging out right now that he's been great with. If it comes through, I'm going to split it with him 50/50 and he's not even asking for that.

 

[TwiLight]

The way they operate today, for the agent, the majority of time they are a waste .

One issue is that unlike an agent, they have very little regulating what they can and can't represent to their prospects, which is us. They constantly misrepresent, over inflate, lie, call it whatever you want. This is my experience. They have an overall lack of transparency with many things. This tends to waste a lot of agent time when trying to evaluate a good fit. Just look at how many posts are on this subject.

On top of all that, they have protection. The release policy allows them to operate in a non capitalistic manner. For that 6 mo. to a 1yr. you are stuck in the contract and they know it. There is no "survival of the fittest", you can't leave. It is all about getting you under contract. Then off to the next.

I can only think of a few times an FMO really stood out to me as adding value. Problem is, that usually changes.

Just my 2 cents.

I would agree with you in the FE world.

In the Traditional Life world you can easily get dual appointments and pick your FMO at will. So in this world the better servicing FMO will win out for agents.

 

[CALTCAgent]

In the Traditional Life world you can easily get dual appointments and pick your FMO at will. So in this world the better servicing FMO will win out for agents.

Sounds like it works better that way too.

 

[pcbinsurance]

I see the Forum is now "endorsing" Levinson and it looks like they offer some, if not all, of the things Pinney does.

Does anyone here use Levinson for term/UL and how are they at the back-office/case management stuff? Are they a viable competitor with Pinney?