BEWARE of Some FMO's!!

[WinoBlues]

Mostly FU carriers.

Prudential ( already have signed app 15YT on 65yo, trying to find someone to beat my current 75%) . Protective & Cincy Life !

I have those with people off this forum. If you like PM me.

Lee

 

[Todd King]

FMO asks for bank account # and SS# upfront before signing up with them.

Why? Doesnt the carrier pay the agent direct?

Are they really assigning? Is this the norm?

What FMO is asking for your bank account info? As far as your SSN goes, yes, they use that to check Vector One first. No use in proceeding with contracting if you have a Vector hit.

 

[rousemark]

They do pay direct. You need your bank info for direct deposit purposes. Essentially every carrier you appoint with will require SSN and bank info

But why would the FMO need it? They aren't making any deposits into your account if you are paid by the companies.

 

[SouthernAdvisor]

How do FMOs make their money?

 

[SouthernAdvisor]

TR King website Surance bay software asks for Bank info. I get it now. TY

 

[SouthernAdvisor]

What FMO is asking for your bank account info? As far as your SSN goes, yes, they use that to check Vector One first. No use in proceeding with contracting if you have a Vector hit.

Your website states you start new agents at street level. What is that? TY

 

[Todd King]

Your website states you start new agents at street level. What is that? TY

The best way to read that is that we start new agents on at least street level. Another way to put that is we don't contract anyone below street levels. If you are not new and have proof of production, then we can go even higher.

 

[Ferman]

Stay away from Medicare Compare USA. They won't release you if you want to change FMO. Of course if they did things as they should and say, a person wouldn't want to make a change.

 

[rousemark]

How do FMOs make their money?

They get paid an overwrite on the agents they have under them.. the difference between their contract level and the agent's level.