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I apologize if anything I posted was taken as a direct comment towards you. Nothing I've posted was directed at you.
Ethical FMO
- Thread starter Jgilbert
- Start date
- 2,455
So I guess there is no ethical FMO............way to go to hijack the OP's original post 
- 9,744
So, let's see...you've had a LICENSE for about a year...
Tell you what; come back when you've been successful for a SHORT period of time, maybe five years...
Then you'll have some credibility. Maybe.
- 7,066
So I guess there is no ethical FMO............way to go to hijack the OP's original post
What the hell, I may as jump in this cluster ah mess.
Before the question can either be answered or debated I think that there needs to be a clear definition of what is considered to be an "Ethical FMO".
Maybe this will help get it started and back on track. Please add your thoughts.
1. An Ethical FMO, in my opinion, should be one who treats agents fairly and gives them at least a street level contract. Sales Support should be included. If the agents needs training then a sub street level contract may be appropriate for a short period of time until the agent starts producing regularly. At that time the commission should be increased to at least street level.
2. Does not demand that the agent assign their commissions. A total rip-off in my mind.
3. Fulfills the promises made regarding quality training on how to sell the product as opposed to just product knowledge. Anyone can easily get product knowledge on their own.
4. If "leads" are promised the FMO should clearly state in writing the kind of leads, how many, how often the agent will receive them, age of the leads and whether or not those "leads" have been shared with many other agents.
5. State in writing whether or not the agent will be the AOR (Agent of Record). If the agent will not be the AOR that should be stated in writing as well, including exactly what that means regarding commissions and renewals. (Too many new agents get burned by not understanding this.)
6. Clearly state in writing whether or not the FMO will give an immediate release upon request. If so then the letter of release should be accompanied by the appropriate signed transfer form.
I am an FMO and this is what I consider a fair way to treat agents.
Please share your thoughts on the subject and anything additional you think should be added to the above list. I would be especially interested in hearing what other FMO's consider to be "Ethical Behavior". This could get very interesting!
An FMO is one who is getting the highest contract currently available. Not one who simply has a higher than street level contract. Those are IMO's. However, IMO's should be held to the same standards in my opinion.
Let the games begin!
G
Guest
Guest
You all chose a very bad analogy.
First off, none of you are the equivalent (or even close) to an Aerosmith of insurance. You're more like the Dexy's, earning a living off of what you once accomplished and remaining at that level, basically forever.
Secondly there are bands/musicians that never make it big but earn a pretty decent living doing what they love, you just don't know about it because as usual, you think all you actually know is all that there actually is.
Third, while Ryan may not have the longest track record of success (yet) I know many agents who would like his current level (and length) of success because they do not even have that.
Lastly, it does take more than hard work, it also takes way more than a dialer, quoting tool, leads, a website, etc because even though everyone promotes all that stuff there's still a 90% failure rate, yet Ryan's in the current 10% of successful agents, I wonder why that is.
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HBD churned and burned, overspent and whatever business stuck, stuck, total bad stockbroker mentality, I'm surprised they even lasted as long as they did.
First off, none of you are the equivalent (or even close) to an Aerosmith of insurance. You're more like the Dexy's, earning a living off of what you once accomplished and remaining at that level, basically forever.
Secondly there are bands/musicians that never make it big but earn a pretty decent living doing what they love, you just don't know about it because as usual, you think all you actually know is all that there actually is.
Third, while Ryan may not have the longest track record of success (yet) I know many agents who would like his current level (and length) of success because they do not even have that.
Lastly, it does take more than hard work, it also takes way more than a dialer, quoting tool, leads, a website, etc because even though everyone promotes all that stuff there's still a 90% failure rate, yet Ryan's in the current 10% of successful agents, I wonder why that is.
* * * * * * * * * * * * * * * * * * * * * * * * * * * * * *
HBD churned and burned, overspent and whatever business stuck, stuck, total bad stockbroker mentality, I'm surprised they even lasted as long as they did.
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Enjoy the world you live in where nothing but the 'good ol' boys club' has anything of value/credibility. While the marketplace keeps shifting, I'll keep listening and keep an open mind. You can let your closed-minded attitude take you right where it takes everyone else who stops listening to those around them.
As for an ethical FMO I think their are a handful of FMO's who are ethical. But is ethical the only important factor in this?
An FMO can be Ethical, but not employ the right resources to ....pay you on time, in time, every time. Do you want to hang your contracts their?
An FMO can be ethical, but their training, while well intentioned may as well be being done by a 5th grader
It starts with being ethical but the agents are going to grade success on what happens after the ethical part is out of the way
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If that is the case, my apologies for misinterpreting your posting.
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G
Guest
Guest
19 years in the biz and you DON'T have a place in Fiji? You can get a condo there for 1/2 a million.
These days people can earn money faster, with technology, internet, etc, there are more successful people in their 20's and 30's than ever before, no need to be a dinosaur with years and years of experience any longer, in fact they are put out to pasture in many industries as you may have noticed.
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This should not be overlooked, this is another great post from Frank!!
These days people can earn money faster, with technology, internet, etc, there are more successful people in their 20's and 30's than ever before, no need to be a dinosaur with years and years of experience any longer, in fact they are put out to pasture in many industries as you may have noticed.
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This should not be overlooked, this is another great post from Frank!!
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I'm considering a side biz of showing some of the "seasoned" agents how to use google, turn their computers on properly, ohhhh and how to close internet leads before the "young punks" like me get to them 1st
I'm going to name it the OHIAA
Older Health Insurance Agents Alliance
Membership starts at $19.99/mo but you will have to teach yourself how to pay using paypal as I don't accept checks from insurance brokers!
Now rob....since you're always talking about how young I am...that does mean you should join this organization as well.
****Stay tuned for the website Moonlight & other qualifying professionals!***********
G
Guest
Guest
LOL
You look 15!!!!
Other people borrowed John's IHIAA idea, you may as well.
You look 15!!!!
Other people borrowed John's IHIAA idea, you may as well.
I'm considering a side biz of showing some of the "seasoned" agents how to use google, turn their computers on properly, ohhhh and how to close internet leads before the "young punks" like me get to them 1st
I'm going to name it the OHIAA
Older Health Insurance Agents Alliance
Membership starts at $19.99/mo but you will have to teach yourself how to pay using paypal as I don't accept checks from insurance brokers!
Now rob....since you're always talking about how young I am...that does mean you should join this organization as well.
****Stay tuned for the website Moonlight & other qualifying professionals!***********
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