Best FIA IMO/FMO?

[iceco1d]

Seems that most IMO/FMOs out there are doing 80% payouts on FIAs. Anyone know of any IMO/FMOs that offer 90% or better and DO NOT require assignment of commissions?

Do you guys find that IMO/FMOs are willing to negotiate payouts? Or at least know of any that have a sliding scale for commissions?

Thanks in advance.

 

[nathan.lee]

There are IMO/FMOs that offer above street level contracts or "marketing allowances."

Usually these higher level payouts are based on previous production or some reasonable anticipated production.

These levels will vary from IMO to IMO and product to product based on the overhead of the IMO and the commission split from the carrier.

Feel free to PM me for specifics.

 

[dignitylmg]

There are multiple organizations out there that offer some form of marketing $'s. I was running my annuities through 4 different organizations and because of marketing programs, narrowed it down to 2.

 

[dsimo11]

The "general" rule is that unless you are producing over 5 mil with carrier, you will be at street WITH THE CARRIER. The imo can and may give you a bonus, but the carrier doesnt want to know about it.

 

[iceco1d]

Thanks for the info everyone. I must say, the "lingo" in the insurance world is a lot different than the securities world. Feel like a newbie all over again!

 

[dignitylmg]

Thanks for the info everyone. I must say, the "lingo" in the insurance world is a lot different than the securities world. Feel like a newbie all over again!

Does your current FIA business run through the grid or is your B/D insurance friendly?

 

[iceco1d]

My current FIA business is through the grid, but I'm allowed to do it outside if I want (which I'm going to start doing). I have to abide by certain restrictions (surrender charge/term, insurer rating, etc.) on what products I can sell though (no longer than 10 year surrender, no more than 10% surrender charge, no forced annuitization, etc.)

 

[dsimo11]

My current FIA business is through the grid, but I'm allowed to do it outside if I want (which I'm going to start doing). I have to abide by certain restrictions (surrender charge/term, insurer rating, etc.) on what products I can sell though (no longer than 10 year surrender, no more than 10% surrender charge, no forced annuitization, etc.)

You must be in lovely 10/10 state. Really sucks I would love for agents in my state to be able to write the BAA 12, but they cant!!

 

[iceco1d]

You must be in lovely 10/10 state. Really sucks I would love for agents in my state to be able to write the BAA 12, but they cant!!

Nope, it's a b/d rule, not a state rule. I'm actually not that comfortable with the 10 year products, and am looking for some good 5 - 8 year stuff.

 

[nathan.lee]

Genworth has a relatively new FIA with a 7 yr. surrender. There is also an option to add an 8% simple income rider.

Depending on BD availability, The Hartford has introduced a series of FIAs as well. The 5 yr. surrender product is very competitive.

And if you are comfortable with F&G's rating, their Prosperity Elite 7 is a very nice product. High cap rates with the option to add income and/or death benefit riders.