Do I need a DBA to brand my services with a name other than my own?

[Mtanner03159]

As long as you are doing business with your first and last name... you don't need a DBA.

If you want to use initials or anything other than your full first and last name, you will need a DBA... and you'll need it approved by your state's department of insurance.

For a long time, I simply did business as "David Kinder Insurance and Financial Solutions" and davidkinderfinancial . com.

No DBA required.

Now, I do business as "Dynamic Advanced Wealth Insurance and Financial Solutions" and www.dynamicadvancedwealth.com

Thanks to everyone for the responses.

To be clear on this DHK, your saying that you use a DBA for your dynamicadvancedwealth.com brand because it doesn't included your name, right?

So if I have a hypothetical website called "Happy Days Retirement Group", and my advertisements say something like, "Happy Days Retirement Group can help you with XYZ", that I should be using a DBA for the name "Happy Days Retirement Group" even if I, like you have my first and last name, state license #'s etc in the footer of my website?

 

[DHK]

That's exactly right. Anytime you are using any name other than your FULL name... you'll need to file a fictitious name statement or DBA. So, even if I wanted to use "D. Kinder Insurance Group"... I'd have to file a FNS or DBA.

That's not unique to the insurance business. That's for everything.

Btw, I just happen to know that you can't use the word 'retirement' in a DBA in California and have it be approved by the state DOI.

Just make sure you check with your state and find out about their approval guidelines and criteria before investing in your new identity.

 

[Mtanner03159]

Interesting.

I noticed that most companies asked during the contracting process if I was planning to use a DBA. If I adopt a DBA, do I need to re-contract with insurance companies under that DBA?

 

[marindependent]

I think the central thing to take away from this is that you really need to check with your State Department of Insurance.

Here in California it can be a nightmare getting a DBA approved, unless its your exact name. And many MGAs, etc have secondary names that you use for this state.

 

[rousemark]

Oh, there's a whole can of worms on this one.

California Business Entity FAQ's:
Business Entity Frequently Asked Questions

Unacceptable Words/Phrases:
Unacceptable Words/Phrases

Not to be confused with Improper Use of Words/Phrases:
Improper Use of Words/Phrases

I originally applied for the name "Tax Exempt Wealth Insurance and Financial Solutions"... and I had seen the Unacceptable words link before and didn't see 'tax' listed. But 'tax' IS listed on the improper list - as I was told by the regulator's employee.

Since I didn't want to waste my filing fee (and now I can have a bank account in the name of this DBA as I did a full proper local filing), I settled for Dynamic Advanced Wealth Insurance and Financial Solutions.

What else would you expect from California?

 

[DHK]

lol. Once I learned there were two different lists, I got my DBA approved the next day.

 

[DHK]

Interesting.

I noticed that most companies asked during the contracting process if I was planning to use a DBA. If I adopt a DBA, do I need to re-contract with insurance companies under that DBA?

No, but you DO need to disclose your DBA on your E&O. I just got an email from my GA about that, so I updated my E&O to reflect that - and to attest that it isn't covering any other agents, etc.

 

[DHK]

Of course, if you are forming an LLC or corporation, and getting a business entity license, then you'll want to re-contract with your companies in order to have your commissions payable to the entity rather than to you as an individual.

 

[Lawsonhj1]

Hillbilly logic I am guilty but no need to add entity when contracting it can be added later if needed and just adds more cost. My same logic says that a webpage is just for lead generation for the agent or the entity and if you have 20 or 50 of them they are just domains and no DBA needed. I have an Insurance Services, LLC and don't run most contracts through it. For some people it adds a bit of credibility. For me it is nice to use as a cost center mainly re occurring monthly business debits and for business purchases.