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Brand new to this forum, what a great resource for someone just entering any channel of the insurance world! forgive me for my ignorance if this post should be somewhere else on this forum but I wanted to make sure to post it in the general area to insure as many members could offer feedback for me. First I humbly give you an overview & background before my question to all of you that I would so very much appreciate any and all feedback on.
I am 28 years old and a CFP with my series 7 license five years into building my personal and business financial planning practice. My practice is associated with one of the "big 3" mutual life insurers (I'm a statutory employee) because of the value proposition they bring to the risk management side of my clients life and disability insurance needs/portfolio. I see myself though as an employee of my clients and exhaust all companies and products to best meet their needs I have a staff of three full-time team members and look to consistently do joint work with other advisors so that I can expand upon the scope of service I am able to bring to my client relationships.
Just this week I have began working with an advisor who has one of the the larger "employee benefits consulting" practices with my state. I looked at this as a great value added proposition to bring to the table business-owner clients as well as to capitalize on business that I have been totally "walking right by". After a day of meeting with four existing clients of mine it looks as if we will become agent of record on all four of these business's health plans (which average around 30 employees each).
Being completely new to the Group Benefits world, what should I keep my eye's open for as I begin to foster this new relationship with this other advisor? He will be functioning as my GA for all group work that we do on my existing clients as well as new prospects. I have no idea about commissions and what I should expect, Although I know most definitely should be receiving the highest possible payouts based upon his mammoth group health production numbers (he has over 15--500 person groups and 4--1000+ person groups to go along with around 300 other groups under 100 persons)
I am 28 years old and a CFP with my series 7 license five years into building my personal and business financial planning practice. My practice is associated with one of the "big 3" mutual life insurers (I'm a statutory employee) because of the value proposition they bring to the risk management side of my clients life and disability insurance needs/portfolio. I see myself though as an employee of my clients and exhaust all companies and products to best meet their needs I have a staff of three full-time team members and look to consistently do joint work with other advisors so that I can expand upon the scope of service I am able to bring to my client relationships.
Just this week I have began working with an advisor who has one of the the larger "employee benefits consulting" practices with my state. I looked at this as a great value added proposition to bring to the table business-owner clients as well as to capitalize on business that I have been totally "walking right by". After a day of meeting with four existing clients of mine it looks as if we will become agent of record on all four of these business's health plans (which average around 30 employees each).
Being completely new to the Group Benefits world, what should I keep my eye's open for as I begin to foster this new relationship with this other advisor? He will be functioning as my GA for all group work that we do on my existing clients as well as new prospects. I have no idea about commissions and what I should expect, Although I know most definitely should be receiving the highest possible payouts based upon his mammoth group health production numbers (he has over 15--500 person groups and 4--1000+ person groups to go along with around 300 other groups under 100 persons)
