FMO's Are People Too

[moonlightandmargaritas]

You look like you may have a problem with your eyes. have you looked into that.

Are you really that big of a frickin' nitwit?

 

[rousemark]

Most insurance companies don't contract directly with brokers. Field Market Organizers do just that. I see a whole lot of value in what a good FMO brings to the table. I won't list the job description of the FMO but I assure you that the list is long and challenging.

My question to brokers on the forum is "does loyalty matter"

Sure loyalty matters.. If I am giving up an override to an FMO, then I expect them to be loyal to me.

 

[houcoogster]

Who needs an FMO? Give me my full commission and I will FMO myself. The whole thing is a freakin Joke Mga...Ga..Blah blah bs man.

Look I cant hire anybody because I cant make any money from it. The Fmo can hire people but the Fmo can't train anybody because they never sold insurance. I can sell and I can train but I ain't doing it for free. Do you still think this is a good system? If so, you and your Fmo need to go get a friggin room!

 

[Infuego]

Sure loyalty matters.. If I am giving up an override to an FMO, then I expect them to be loyal to me.

I think you're right. I've been told to be loyal to my IMO and realized the same thing- I'm a revenue stream to them, not the other way around.

 

[BURIAL INSURANCE MAN]

​

When I came into our biz in 1978 I was hired by a co,
trained by a sales manager, worked from a co office
and was expected to place all my policies with the co
I worked for. Loyalty was both expected and given.
I saw agents with problems from alcoholism to low
production given opportunities to stay and get better for
some time before they wereshown the door.
This was because of their years of loyal service.
Beginning in the 1980s distribution systems began to
change and offices and companies began to close and
were bought out.
Today almost all companies have shifted recruiting
and training to IMOs. The IMOs in general have little
loyalty to a carrier because they know theycan be dropped
by that co at anytime. That is one reason they all try to
represent as many good carriers as they can provide
the required premium. Agents have been left to fend
for themselves. There is little or no training provided
and you will find that most IMOs that are successful
throw lots of agents against the recruiting wall and
see who sticks.

​

When I started in FE in 08 I
did not know who to go with or how to contract with the "right"
IMO. It seems to me that there are 3 or 4 today mentioned
on the forum that do help train and mentor agents who are
willing to work.
After 30 years in this biz I now look at all companies and
IMOs that I do biz with as product manufacturers and
distributors. As long as we can do biz together and make
a profit then we do biz but the concept of "loyalty" to
an IMO or Co is an outdated relic from a time long past
that I do not think will occur in my working lifetime.

 

[WinoBlues]

We need a thumbs up for use on our phones.

----------

This.

Good post. Just is what it is.

​

When I came into our biz in 1978 I was hired by a co,
trained by a sales manager, worked from a co office
and was expected to place all my policies with the co
I worked for. Loyalty was both expected and given.
I saw agents with problems from alcoholism to low
production given opportunities to stay and get better for
some time before they wereshown the door.
This was because of their years of loyal service.
Beginning in the 1980s distribution systems began to
change and offices and companies began to close and
were bought out.
Today almost all companies have shifted recruiting
and training to IMOs. The IMOs in general have little
loyalty to a carrier because they know theycan be dropped
by that co at anytime. That is one reason they all try to
represent as many good carriers as they can provide
the required premium. Agents have been left to fend
for themselves. There is little or no training provided
and you will find that most IMOs that are successful
throw lots of agents against the recruiting wall and
see who sticks.

​

When I started in FE in 08 I
did not know who to go with or how to contract with the "right"
IMO. It seems to me that there are 3 or 4 today mentioned
on the forum that do help train and mentor agents who are
willing to work.
After 30 years in this biz I now look at all companies and
IMOs that I do biz with as product manufacturers and
distributors. As long as we can do biz together and make
a profit then we do biz but the concept of "loyalty" to
an IMO or Co is an outdated relic from a time long past
that I do not think will occur in my working lifetime.

 

[Gooner]

We need a thumbs up for use on our phones.

----------

This.

Good post. Just is what it is.

Seems like every post he makes is gold...

 

[WinoBlues]

Seems like every post he makes is gold...

I should say I like the guys I have contracts with or I would not. I don't jump ship for 5 points, however, at the end of the day it is business and I know they are only going to back me to a degree.

I have one guy I gave contracts going 20 years. Good guy but I think he is getting complacent. A big plus on the traditional side is being able to dual contact.

 

[Gooner]

I should say I like the guys I have contracts with or I would not. I don't jump ship for 5 points, however, at the end of the day it is business and I know they are only going to back me to a degree.

I have one guy I gave contracts going 20 years. Good guy but I think he is getting complacent. A big plus on the traditional side is being able to dual contact.

I've got contracts with 2 IMO's and I'm direct to SNL. My main 1, we all know, are great...the other I not even allowed to mention on the forum or the post gets pulled...had contracts my main IMO didn't offer, that I wanted. I haven't spoken to him in months and mught write 2 policies a month with him, some of that is term with Trans that I don't have access to with my main group.

I like the fact I can get in touch with 'my guys' when I want to...that's probably because I actually produce, at least enough for them to take my calls! I've spoken to several people who've reached out to me saying that they could never get their IMO to respond to them. I ask'em how much they write and they tell me 1k or so a month...why would an IMO waste their time..my opinion atleast.

I'm way to green in insurance to say what my longterm perspective will be, but for 10% or more...I'm first in line. That all being said, my goal is to give 'my guys' atleast 100k in AP this year, sonthat they can make some money off of me...the support and training has been phenomenal.

See what I did here...didn't mention them by name once...lol

 

[bboman23]

I've got contracts with 2 IMO's and I'm direct to SNL. My main 1, we all know, are great...the other I not even allowed to mention on the forum or the post gets pulled...had contracts my main IMO didn't offer, that I wanted. I haven't spoken to him in months and mught write 2 policies a month with him, some of that is term with Trans that I don't have access to with my main group.

I like the fact I can get in touch with 'my guys' when I want to...that's probably because I actually produce, at least enough for them to take my calls! I've spoken to several people who've reached out to me saying that they could never get their IMO to respond to them. I ask'em how much they write and they tell me 1k or so a month...why would an IMO waste their time..my opinion atleast.

I'm way to green in insurance to say what my longterm perspective will be, but for 10% or more...I'm first in line. That all being said, my goal is to give 'my guys' atleast 100k in AP this year, sonthat they can make some money off of me...the support and training has been phenomenal.

See what I did here...didn't mention them by name once...lol

But we all know already that your with LH