Beware of SENIOR MARKET SALES

[DMAC]

I don't log into Insurance Forums all that often but in this case, I can see my company has offended an agent. Let me assure you your release will be processed. SMS has over 100 reciprocal agreements with other FMOs and MGAs and do our best to not stand in the way of an independent agent looking for a new opportunity. In most cases, the other FMO signs a reciprocal agreement and changes happen smoothly. We pride ourselves in the value we provide agents and have enjoyed a good reputation within the industry.
Sincerely,
Dwane McFerrin

 

[pcbinsurance]

Dwane's brother Bobby says this:

https://www.youtube.com/watch?v=d-diB65scQU

 

[sshafran]

SMS has over 100 reciprocal agreements with other FMOs and MGAs .... the other FMO signs a reciprocal agreement and changes happen smoothly.

What's the purpose of the reciprocal agreement?

i.e., if an independent agent doesn't want to work with you - why does there need to be an agreement between you and his/her new FMO?

 

[somarco]

Public shaming seems to be effective.

 

[sman]

I've had my own issues with this FMO. Because of the way they acted regarding a post on this forum (which wasn't negative in any way), I have moved all but one contract away from them. And since they now say they will allow another agent to leave, I guess I'm going to start the process of moving that last contract. Some may claim they have a good reputation in the industry, but obviously some of us disagree.

Quite honestly it's their loss. I wrote nearly 100 MAPD's this past AEP and they didn't get a penny from it. I have a few annuity cases in the works and they won't get a dime off of those either. Sure they likely have tens of thousands agents appointed through them, but this is one agent who won't send another contract or piece of business through them. I'm a fairly decent producer who doesn't ask for much. In the grand scheme of things it likely won't hurt them much. But they did nothing to earn their override. And to make it clear, my problem isn't with my rep at this FMO, it's with management. It's time FMO's realize WE are their customers and not their employees.

Good for you axe for voicing your problems here and it resulting in you getting your release. Shame on the FMO for not doing the right thing to begin with.

 

[GoCubsGo]

I don't log into Insurance Forums all that often but in this case, I can see my company has offended an agent. Let me assure you your release will be processed. SMS has over 100 reciprocal agreements with other FMOs and MGAs and do our best to not stand in the way of an independent agent looking for a new opportunity. In most cases, the other FMO signs a reciprocal agreement and changes happen smoothly. We pride ourselves in the value we provide agents and have enjoyed a good reputation within the industry.
Sincerely,
Dwane McFerrin

Nice that you are going to do the right thing with this agent but it sounds like you are only doing it because they called you out. How about declaring here that you will stop the sleazy practice and promptly release any agent who requests such. Why would you want to waste time trying to hold up an agent that doesn't want to work with you? Spend the time and energy looking for two agents to replace them instead. When an agent does leave find out why and see if there is something you can do better going forward to keep agents.

 

[midwestbroker]

I cannot speak of the SMS out of Omaha, but since I was mentioned I thought I would chime in.

I was a moderator on this forum for about 6 years, and I stepped down once I started my own training site. I then started training through SMS (Senior Marketing Specialists) out of Columbia, MO and have loved it here.

If you should ever have a question, comment, complaint, threat, or promise (that is my infamous intro to my webinars) please let me know: [email protected]

And thank you all for the kind words!

 

[Todd King]

I don't log into Insurance Forums all that often but in this case, I can see my company has offended an agent. Let me assure you your release will be processed. SMS has over 100 reciprocal agreements with other FMOs and MGAs and do our best to not stand in the way of an independent agent looking for a new opportunity. In most cases, the other FMO signs a reciprocal agreement and changes happen smoothly. We pride ourselves in the value we provide agents and have enjoyed a good reputation within the industry.
Sincerely,
Dwane McFerrin

Well Dwane, I'm glad to see that someone has stepped up to say something. With this post you'll notice my number at the bottom in my signature. Whoever has to approve this release can give me a call any time they like during business hours. If you want a reciprocal release, it should be with me. Either way, you shouldn't be playing around with this agent's livelyhood. That's just wrong!

Why do I get the feeling that I'll be hearing crickets on this one?

 

[craig_ritter]

Well Dwane, I'm glad to see that someone has stepped up to say something. With this post you'll notice my number at the bottom in my signature. Whoever has to approve this release can give me a call any time they like during business hours. If you want a reciprocal release, it should be with me. Either way, you shouldn't be playing around with this agent's livelyhood. That's just wrong!

Why do I get the feeling that I'll be hearing crickets on this one?

Todd,

If Dwane says he's going to release, I'm sure he'll follow through. I understand why an FMO would want a reciprocal release agreement. Generally, I ask for them because they can come in handy from time to time. I don't require them. Sometimes it pains me to release an agent to an FMO who I know won't release to me, but that's the agent's call, in my opinion, as long as there isn't an upline in between or unpaid debt.

Anyway, fill us in on what happens here. I'm hoping this gets resolved quick so we can get back to business!

 

[Todd King]

Todd,

If Dwane says he's going to release, I'm sure he'll follow through. I understand why an FMO would want a reciprocal release agreement. Generally, I ask for them because they can come in handy from time to time. I don't require them. Sometimes it pains me to release an agent to an FMO who I know won't release to me, but that's the agent's call, in my opinion, as long as there isn't an upline in between or unpaid debt.

Anyway, fill us in on what happens here. I'm hoping this gets resolved quick so we can get back to business!

Craig, the reason for my doubts is due to the obvious runaround he's already gotten and the fact that they won't reply to my emails.

I like reciprocal agreements as well. I wouldn't mind doing one with them (if I haven't already), but they just seem hell bent on going around me. I'm wondering who THEIR upline is for Foresters. Maybe I should demand a reciprocal release with them too.