Executive Trade Associates(ETA) Crooked?

[Neutrina]

Has anyone heard of Executive Trade Associates (ETA) out of New Jersey? AKA--American Senior Medical Group.
AKA--Parker & Associates?
It's an FMO that recruits agents nationwide to sell med supp and advantage plans.
I spoke to their MGA that told me they way they work is to supply agents with 8 appointments a day and that agents typically close 12+/week.
They don't work on commission percentage but rather pay out $100/app and $100/app on renewals years 2-5.
They would be the "Agent of Record" receiving the commissions from the carriers and cutting a check to the agent.
They emailed me contracts for
Mutual of Omaha
Bravo Health
United Healthcare

but not for their other carriers listed--
Secure Horizons)
Blue Cross/Blue Shield
Advantra
Gerber
Unison

They also didn't send any kind of FMO contract.
FMO/IMO's do have their own contracts don't they?

 

[magagent]

Sit tight... You will be advised shortly on how dangerous this is. Do they offer any final expense contracts at all?

Has anyone heard of Executive Trade Associates (ETA) out of New Jersey? AKA--American Senior Medical Group.
AKA--Parker & Associates?
It's an FMO that recruits agents nationwide to sell med supp and advantage plans.
I spoke to their MGA that told me they way they work is to supply agents with 8 appointments a day and that agents typically close 12+/week.
They don't work on commission percentage but rather pay out $100/app and $100/app on renewals years 2-5.
They would be the "Agent of Record" receiving the commissions from the carriers and cutting a check to the agent.
They emailed me contracts for
Mutual of Omaha
Bravo Health
United Healthcare

but not for their other carriers listed--
Secure Horizons)
Blue Cross/Blue Shield
Advantra
Gerber
Unison

They also didn't send any kind of FMO contract.
FMO/IMO's do have their own contracts don't they?

 

[Neutrina]

No. They only mentioned med sup and med advantage.

 

[STIBROKER]

AKA--Parker & Associates?

Parker & Associates ripoff - Google Search

 

[magagent]

You could sign up with them get a 100% or better final expense contract and pitch fe at every appointment also.

No. They only mentioned med sup and med advantage.

 

[Frank Stastny]

Has anyone heard of Executive Trade Associates (ETA) out of New Jersey? AKA--American Senior Medical Group.
AKA--Parker & Associates?
It's an FMO that recruits agents nationwide to sell med supp and advantage plans.
I spoke to their MGA that told me they way they work is to supply agents with 8 appointments a day and that agents typically close 12+/week.
They don't work on commission percentage but rather pay out $100/app and $100/app on renewals years 2-5.
They would be the "Agent of Record" receiving the commissions from the carriers and cutting a check to the agent.
They emailed me contracts for
Mutual of Omaha
Bravo Health
United Healthcare

but not for their other carriers listed--
Secure Horizons)
Blue Cross/Blue Shield
Advantra
Gerber
Unison

They also didn't send any kind of FMO contract.
FMO/IMO's do have their own contracts don't they?

Grease your ankles and grab you ass, squint your eyes and brace yourself.

You will be giving up around $200 per year per app and approx $200 per year per app for the next six years in renewals on each app you write. Med Supp companies pay first year commission for the first 7 years.

You will not get 8 real appointments a day, an agent can't run that many and do a presentation even if you get that many and you won't, and you will not close 12 policies a week. It ain't gonna happen, no way, no how.

Don't, under any circumstances regardless of what is promised you, ever assign your commissions. Even if they promise you "leads" and to wash your car every Friday. They are blowing smoke at you. "Don't let the smoke get in your eyes...".

I am an FMO that recruits agents nation wide and yes, I do have my own contracts I send to agents and the agent is the agent of record. I'm also a licensed, producing agent.

They prey upon new agents, don't let them pick your bones clean like a bunch of vultures. If you would like to call me I can tell you what you should be looking for. Anytime at 573.544.4091.

 

[Neutrina]

"Grease your ankles and grab you ass, squint your eyes and brace yourself"

Shouldn't that be grab your ankles and grease your ass and brace yourself?

I've read your warning about assigning commissions my dear sir and I agree. But frank don't most FMO's/IMOs insist on being the AOR?

 

[GreenSky]

I've read your warning about assigning commissions my dear sir and I agree. But frank don't most FMO's/IMOs insist on being the AOR?

No, no, no. Dishonest FMOs require assignment of commission and in the rare case where they are supplying legitimate leads, they'll do this in order to pay a lower commission.

Plus, if it's from Parker and Asses, you know you'll be reamed.

Rick

 

[Neutrina]

So Greensky mostly dishonest FMOs require assignment of commission?
That's a good "red flag" criteria to go by.
What concerns me also are FMOs promising training, support and not delivering on it.

 

[magagent]

Frank... Tell us how you really feel about this.

Grease your ankles and grab you ass, squint your eyes and brace yourself.

You will be giving up around $200 per year per app and approx $200 per year per app for the next six years in renewals on each app you write. Med Supp companies pay first year commission for the first 7 years.

You will not get 8 real appointments a day, an agent can't run that many and do a presentation even if you get that many and you won't, and you will not close 12 policies a week. It ain't gonna happen, no way, no how.

Don't, under any circumstances regardless of what is promised you, ever assign your commissions. Even if they promise you "leads" and to wash your car every Friday. They are blowing smoke at you. "Don't let the smoke get in your eyes...".

I am an FMO that recruits agents nation wide and yes, I do have my own contracts I send to agents and the agent is the agent of record. I'm also a licensed, producing agent.

They prey upon new agents, don't let them pick your bones clean like a bunch of vultures. If you would like to call me I can tell you what you should be looking for. Anytime at 573.544.4091.