"Best" FMOs/IMOs (and Why?)

[joeblow]

I've seen a few posts asking about specific FMOs, but I'm curious as to who most people are contracted with, and why?

Is there anybody out there adding incredible value, or is it all "who'll give me the best contract" driven?

If anybody would care to offer up suggestions on who's the "best" to work with, I'm all eyes.

 

[dj5106]

I've been dealing with Brokers Alliance lately, contracted with a couple of carriers through them. I like them, they assign you an actual rep that helps with any needs I've had so far, kind of a nice change for me, found them very knowledgable. I send some of my fully underwritten business to them, so far so good. I'm also using 2 other IMOs for different carriers, little better commissions but I have to do all the back office work. In my opinion, you have to find a balance between commissions and support. If you're writing simplified issue, you don't need much support so get the best commission. If you're writing alot of fully underwritten business you may want some support with underwriting and placement. Just my 2 cents...

 

[GreenSky]

You might want to specify life, health, senior or annuities.

Rick

 

[insuranceexec]

Most agents do not realize that the "support" that most marketing companies provide you with is actually the support that is give for free at the actual company.

While I agree that Fully underwritten life products need a bit more attention.

Most marketing companies should have underwriters on staff to answer the tough questions, and tell you the carrier that would be most suitable for your case.

There is a fair balance between what you should expect and what you should do yourself.

Great question.

 

[Charpress]

In order of importance (more or less) this is what I've learned to expect (or want) from an FMO:

1) Marketing support. What do they offer in the way of fresh ideas and support to help you reach clients and sell products? I have found out the hard way that this is the single most important feature that a Field Marketing Organization has. Many FMOs just talk the talk. They pay for the full-page ads in Senior Market Advisor and the other mags, but when you look closely it is just re-packaged and re-hashed same-old-same-old.

2) Unbiased advice. Been with small FMOs that have to push certain companies because they don't have the business to be able to take on a good number of companies. Also, my former FMO had too many sweet deals with certain companies they like to push -and I didn't much like the companies and could not in good conscience recommend to my clients what they recommended to me. You want an FMO that you can call up (preferably one person is assigned to be your marketing advisor) and say: "Hey, I've got a 70 year-old with gout who has 10 children and he wants...." I then want to hear some advice, some choices, and I want some help.

3) Free stuff. OK, who doesn't like free stuff? I've learned that the trips and so on have to be paid somehow. I have found out that too many trips set at a low production expectation probably means that the marketing help is being ignored or whatever. The money always comes from somewhere, so that goes back to why marketing is #1 in importance.

4) The little things. An FMO that is always thinking of ways to make your life easier makes you life, well, easier. For example, one of my current FMOs emails me a stack of overnight labels so that I can send my apps to them for scrubbing before they overnight the apps on to the companies. Kind of nice to not have to pay FedEx fees anymore. That used to be kind of a big expense.

 

[annuityseller]

Joe Blow just make your life easy and sign up with insurancexec and call it good.you will not get a better deal or support that is any better anywhere else,And no he didn't pay me to say that.

 

[insuranceexec]

Joe Blow just make your life easy and sign up with insurancexec and call it good.you will not get a better deal or support that is any better anywhere else,And no he didn't pay me to say that.

LOL.............Thanks for the plug!

Where did you want that check sent..............LOL

 

[Frank Stastny]

Aren't the "best" ones the ones that will give an immediate release, with no strings attached, if it is requested by the agent? Not a verbal statement, but be willing to put it in writing before the agent signs a contract.

That would be my definition. Oh, they are also going to have to offer at least street level commissions or higher.

 

[insuranceexec]

Aren't the "best" ones the ones that will give an immediate release, with no strings attached, if it is requested by the agent? Not a verbal statement, but be willing to put it in writing before the agent signs a contract.

That would be my definition. Oh, they are also going to have to offer at least street level commissions or higher.

You have summarized Next Generation to a "T".

Where would you like your gift card sent?................LOL

 

[dgoldenz]

Joe Blow just make your life easy and sign up with insurancexec and call it good.you will not get a better deal or support that is any better anywhere else,And no he didn't pay me to say that.

x2. Next Generation is great....very helpful, always on top of things, and offers great contracts. Up front release of all your business too I believe.