KandKsmommy
Expert
- 99
Ok so I am currently working under a small agency (just converted to an LLC from a sole prop with the option of me becoming a partner). I am building my own book under it with the understanding when my boss is ready to retire I take back full commissions instead of the 50/50 we have now (yes it's low but I get a base pay that I plan to faze out in exchange for a better split like 80/20 while she is still running the business).
I also plan to take over serving her ACA and Medicare Supp books but I am questioning since I will be servicing them is it reasonable to request the same split we have now 50/50 on her renewals?
I believe the plan is to transfer her book under me since most carriers require you to be licensed to get the renewals. I will keep her on the payroll of the LLC while she continues to get renewals. Her health book consists of 110 Med Supp, 125 ACA, 10 small group.
As her ACA clients transition to Medicare they would become my clients entirely with no commission splits.
We still have 5-10 years to iron out the details but business ownership/partnership is brand new to me and I am a planner.
I also plan to take over serving her ACA and Medicare Supp books but I am questioning since I will be servicing them is it reasonable to request the same split we have now 50/50 on her renewals?
I believe the plan is to transfer her book under me since most carriers require you to be licensed to get the renewals. I will keep her on the payroll of the LLC while she continues to get renewals. Her health book consists of 110 Med Supp, 125 ACA, 10 small group.
As her ACA clients transition to Medicare they would become my clients entirely with no commission splits.
We still have 5-10 years to iron out the details but business ownership/partnership is brand new to me and I am a planner.
