Brokers Working in Their Own Best Interest

[NinjaNic]

Background: An agent calls and asks for my recommendation on insuring a client with RA and build issues. Long story short, I push to Prudential at $7600/annual due to a very big price difference and stronger underwriting.

Agent: I do not want Prudential.

Me: Why?

Agent: Because their commission is garbage.

Me: True-but it is the best value for the client, and it has the living needs benefit rider.

Agent: I don't care. They don't advance. I want American General or Banner.

Me: American General will be $11,246, and Banner will be $9,856. (even gave Protective)

Agent: That is fine, I will tell him it is the best available.

Me: How long you been in the business?

Agent: Not long.

Me: Well good luck with that.



Nothing pisses me off more than selfish agents willing to F^%$ a client to fatten the wallet. Too bad a lot of them exist.

That is my Friday afternoon rant.

 

[sman]

Do you know the potential clients name? Pass it on to another agent and let them offer Pru.

This kind of stuff bothers me as well. I can understand if it's within a few dollars difference, but not this big of a difference.

 

[NinjaNic]

For the sake of my profession and sake of the client I wish I could...but, I am with the IMO--can't do it.

 

[Norwayguy]

It's one thing to say Mr client Company A shows you should qualify for X rate class which would make them the cheapest, however in my experience Company A always does an APS and finds some reason to come back contrary to thier underwriting guide. Company B is also a fine company and I believe after underwriting it will end up being your best value.

But just for commissions sake, he better not be holding his breath about keeping clients long term.

 

[BNTRS]

Buddy, I could tell you wild stories about Agents helping themselves much more than helping their clients. We're talking cases that reach into the six figures, and no amount of stupid could justify what those agents did.

I would live in fear every day if I pulled this kind of crap. Because there are people like me who love to point out when agents either do dumb things, or intentionally mischievous things.

If it were me, I would have probably told this agent we were done and not to call me anymore.

 

[donamese]

If you are the IMO, I would make a note of that broker and consider dropping him. If you are lucky, only persistency will be an issue in which you may be the benefactor of his debit balance. With his mindset, he will end up sued one day and you (IMO) could be dragged in to it.

 

[NinjaNic]

If you are the IMO, I would make a note of that broker and consider dropping him. If you are lucky, only persistency will be an issue in which you may be the benefactor of his debit balance. With his mindset, he will end up sued one day and you (IMO) could be dragged in to it.

CYA note in the file! He is an agent of a sub-GA---I can't "fire" him as much I would like to...

 

[agentjhc]

let's see help the client, make a few thousand dollars, or screw the client, and make more, what a slime ball he is...

 

[senior-advisor-indiana]

If you are the IMO, I would make a note of that broker and consider dropping him. If you are lucky, only persistency will be an issue in which you may be the benefactor of his debit balance. With his mindset, he will end up sued one day and you (IMO) could be dragged in to it.

No matter how disgusting it is, I don't see how the agent could be sued for it. It's no different than LH agents selling over priced FE policies.

 

[rousemark]

No matter how disgusting it is, I don't see how the agent could be sued for it. It's no different than LH agents selling over priced FE policies.

Might not could be sued for this but if the agent is that greedy, then what corners might he be willing to "shave" in order to make a buck? People with his attitude of selling he best comission product no matter what most often will do other things.. lie in order to replace in force business, fail to file replacement forms, falsify applications, forge signatures, etc. if that is what it takes.