FMO Companies

[Josh]

You know I could be off here, but this is a new agent, which I assume to mean he needs to be trained on how to get leads (self-generated or purchased), the legalities/loop-holes re: selling MA over the phone, a selling system and product knowledge and naturally ongoing support.

I have spoken to quite a few, and while most of them offer great contracts and product training, they all lack in the points I put forth.

Probably because that's not what they're supposed to be offering. You could ask the FMO's for any GA's they have that do that kind of hand holding, but at the FMO level they shouldn't be providing leads and support, just good contracts. Now, some of them work with solid GA's that can help agents out with training, leads, legalities, etc, but the FMO would be foolish to offer all of that AND high contracts.

 

[Frank Stastny]

Probably because that's not what they're supposed to be offering. You could ask the FMO's for any GA's they have that do that kind of hand holding, but at the FMO level they shouldn't be providing leads and support, just good contracts. Now, some of them work with solid GA's that can help agents out with training, leads, legalities, etc, but the FMO would be foolish to offer all of that AND high contracts.

Why would you say "that's "not what they're supposed to be offering". Who said so?

Why am I "foolish" for offering higher contracts than most along with the "hand holding" I provide? I would say those who don't are the foolish ones.

 

[YouGotMyMoney]

Why would you say "that's "not what they're supposed to be offering". Who said so?

Why am I "foolish" for offering higher contracts than most along with the "hand holding" I provide? I would say those who don't are the foolish ones.

Frank, I think there is a little miscommunication here...

let me say this then I'll mind my business-

when MPS used the term FMO and GA, I believe he was saying an FMO is the wholesaler who simply provides large or the largest contracts, to GA's who are the one's who either provide the kind of system you or Rob or DaytonaGuy do, or are like a Ritter who has incredible product knowledge, tools and contracts, but you are pretty much on your own for sales training.

 

[Josh]

Why would you say "that's "not what they're supposed to be offering". Who said so?

Why am I "foolish" for offering higher contracts than most along with the "hand holding" I provide? I would say those who don't are the foolish ones.

Frank, you are a special man and the exception to many rules. That being said, you are functioning as more of a GA than a true FMO. A true FMO is licensed in at least 40 states, actively writing business in at least half of those, offers high contracts with most carriers, has a full office staff that can help resolve any issues with carriers, and has products available for most lines of insurance (excluding p&c). By that definition I think you're more of a GA offering high contracts with some carriers on some products rather than an FMO. Ritter, Senior Market Sales, and Integrated benefits are true FMOs. For them to offer the same level of outstanding support and training you do would be foolish. For you as a GA to offer what you do makes all the sense in the world. That make more sense?

 

[scagnt83]

I would agree. Generally speaking, true FMOs are usually not in the business of hand holding. They are there to provide top level contracts.


Back to the OP; with no prior production at all, you most likely will not be given real great contracts even with a FMO. For them to give you much of their time/leverage you would certainly need to have agents waiting to contract under you.

 

[thall]

I think that has been part of the confusion on this thread. There are quite a number of agents in the field that think they are directly under an FMO, which simply is not the case. I know personally, I have been contacted by so and so, come to find out they were and have been my true FMO all along. I've already forgotten the original gist of this thread, you can call yourself an FMO, IMO, DVD, MRI, CPR, SUV, NFL etc. just let your recruits know that there is usually someone higher up in the food chain. After thought, FMO, field marketing org. makes me think there should be training involved, should be called, HMO, home marketing org.

 

[GreenSky]

I am not worried about generating leads. I have a system and infrastructure in place to do that.

This agency will be ancillary to what my profession is already another avenue of making money.

I would contact Luke. He has about 6 weeks more experience than you so the two of you would be a perfect match.

Rick

 

[thall]

Where is Luke? Is he still putting on those Dare To Be Great webinars?

 

[Frank Stastny]

Frank, you are a special man and the exception to many rules. That being said, you are functioning as more of a GA than a true FMO. A true FMO is licensed in at least 40 states, actively writing business in at least half of those, offers high contracts with most carriers, has a full office staff that can help resolve any issues with carriers, and has products available for most lines of insurance (excluding p&c). By that definition I think you're more of a GA offering high contracts with some carriers on some products rather than an FMO. Ritter, Senior Market Sales, and Integrated benefits are true FMOs. For them to offer the same level of outstanding support and training you do would be foolish. For you as a GA to offer what you do makes all the sense in the world. That make more sense?

It make sense, thanks.

It's true I specialize in Med Supp contracts only but I have the top contracts companies offer and those contracts are with the companies the agents are looking for. I also offer contracts in all states.

I personally am licenses in numerous states and write business in multiple states. I have agents contracted who write business across the country. I seriously doubt that Ritter, SMS and others you identify as FMO's personally write business on a regular basis if at all. It isn't necessary for an FMO to be licensed in all 50 states to offer contracts in every state. Licensing is only required in a hand full of states.

I have agents contracted in 39 different states. I personally deal with each one of them if they need my help with Med Supps and have the contacts to help them with any issues the agents may have with carriers.

Unlike your definition of a " typical" FMO, which I don't disagree with, I have a deep interest in seeing that the agents who contract with me not only have the best contracts but also have the support they need. They have unlimited phone access to me at any time. I guess that is the "GA" part you were referring to.

I greatly appreciate the kind words and I can see why you have made the comparison between your definition of an FMO vs a GA. I guess I think of myself more as an FMO because I have the top contracts offered by each company like other FMO's, can offer great contracts to agents, the contacts to help agents with carriers when needed.

 

[Bob_The_Insurance_Guy]

I am not worried about generating leads. I have a system and infrastructure in place to do that.

This agency will be ancillary to what my profession is already another avenue of making money.

Would that be:

• PrePaid Legal
• Tahitian Noni
• Everclear Water
• Ignite Gas Service
• Go Small Biz
• Sendout Cards
• The service where you approach individuals and claim that with no money out of their pocket, they can save money on their current bills
• Your Video dot com

I, am not interested in assisting someone who does not take this profession - AND IT IS A PROFESSION - seriously, and thinks it's just a neat way to add another stream of income.

Please, I beg you, go pick on the Real Estate/Mortgage Industry or Cloud Computing Industry.

LEAVE US ALONE!