EFinancial Vs National Brokerage

[Norwayguy]

From experience ... the EF back end support sounds great but is extremely ineffective. ....... They do follow up with your clients but they leave voicemails as being with Efinancial and it seems like they rarely get in contact with your clients.

Medigap/Norwayguy - If I use Concierge system from NB, and they contact the client - how do they represent? Calling from NB (confusing the client) or do they say 'calling from NB on behalf of xyz insurance agency". I noticed on the recorded webcast where NB said they dont market their names to the clients, even on the monthly newsletters - they put the agency name.

It seems like, NB has to be a better choice over EF.

I'm also on the East Coast. when you say your B/D is on West Coast, does it mean someone other than NB?

In regards to the Concierge service I believe they say they are calling from your office....but as I have pointed out in past posts I have never used this service as I would prefer to submit the case myself...Yes my B/D ie Where I hang my securities license which is not with NB is on the west coast...I never took into consideration the time difference and how that can affect my workflow when I moved my license over to them.
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I submitted the request on NB website to call me back for further discussion, and also left them a voice mail message. But no-one has returned the call yet.

Do they always take that long to return the call from their old agents as well?

Does "your rep" make money out of "your sale" or he just gets regular salary?

I've never asked my rep, but I would be he either gets a slice or has a certain production requirement out of the brokers he is assigned...I email and leave Voice mail to my rep if I want to hear back from them...If I want an answer right now I get someone that is available....I'm thinking back now and I think it took some time to get a call back from a contact via the website...It doesn't seem to be an issue when I email or call my rep direct.

As has also been pointed out IMO are all over the place and you can always keep looking.

 

[redsquash]

310666Yes my B/D ie Where I hang my securities license which is not with NB is on the west coast...I never took into consideration the time difference and how that can affect my workflow when I moved my license over to them.[/I]

I've never asked my rep, but I would be he either gets a slice or has a certain production requirement out of the brokers he is assigned

As has also been pointed out IMO are all over the place and you can always keep looking.

Thanks, you have been very helpful. I was able to speak with the rep yesterday afternoon. After all my research, and recommendations - I'll stick with NB.

 

[Norwayguy]

Thanks, you have been very helpful. I was able to speak with the rep yesterday afternoon. After all my research, and recommendations - I'll stick with NB.

Good luck...Just so you know your really never tied down to IMOs on the Life side...most Life carriers will dual appont meaning you can have more than one IMO for a Life carrier and submit the business under the number to credit the IMO you want.

 

[redsquash]

Good luck...Just so you know your really never tied down to IMOs on the Life side...most Life carriers will dual appont meaning you can have more than one IMO for a Life carrier and submit the business under the number to credit the IMO you want.

Do you recommend any other (secondary) IMO that I should look into, in addition to NB? I think EF has a draw back that it will cost $60/month.

Who is your BD for securities business. I also have Series 6/63, but I want to concentrate on life sale at this time - while keep my series 6/63 active.

 

[Norwayguy]

Do you recommend any other (secondary) IMO that I should look into, in addition to NB? I think EF has a draw back that it will cost $60/month.

Who is your BD for securities business. I also have Series 6/63, but I want to concentrate on life sale at this time - while keep my series 6/63 active.

I think you might be mistaken...ALISS costs $60 per month...I don't knowif EFinancial will work with you without you using ALISS, but like I said its ALISS that costs $60 per month plus a setup fee. For a backup IMO...no I don't have any names for you. If you get beat out by a competitor and NB doesn't offer them say Savings Bank Life...you could always find an IMO offering that carrier....If you want to talk about B/Ds you can PM or call me, I don't like discussing that on the forum.

 

[redsquash]

I called the NB rep, who said - I'll get 100% commission. Later, I asked him to email me the commission schedule, which shows only 60%

I have emailed and questioned him that the commission should be 100%.

What you guys think about it? Is 100% commission unreasonable for Term Life, and that I misunderstood him in my initial call.

If 100% commission on Term Life is not unreasonable, then can you recommend any Broker, other than NB.

 

[plays2win]

Are you guys talking about `National Broker Alliance.?

 

[Norwayguy]

Are you guys talking about `National Broker Alliance.?

No we are talking about National Brokerage formerly Mountain Financial.

 

[alexmade]

efinancial seems like they're running a really nice back office system. Aliss is the same thing they use to generate their online sales. NB has not gotten back to me. Does anyone else have any more recent experiences.

 

[Norwayguy]

efinancial seems like they're running a really nice back office system. Aliss is the same thing they use to generate their online sales. NB has not gotten back to me. Does anyone else have any more recent experiences.

Sorry to hear about that in regards to National Brokerage...I can say my rep gets back to me and they are great with trying to provide extra value.....I used ALISS a couple of years ago and it is okay but having compared it to NBs system as well other ways of writing business it is not worth the $60 per month plus set up fees to me....Then again I've gotten away from chasing internet leads.