Former WFG Agent - Should I retire?

[toolbelt]

sold a ton of policies to people I DIDN'T RECRUIT

Maybe not personally, however selling to recruits of recruits doesn't change the facts.

 

[DHK]

Now, I'm listening to the interview that I just posted with Jeff Roberti.

One difference, is that he DID become a "raving fan" of the product... but that's more moral when you're talking about juices or other consumable products... rather than long-term insurance contracts.

 

[Cornelius]

People are leaning away from financial services with this MLM conversation.

Yes, so while you're learning insurance, you can also be hawking Herbal shakes, detergents and lip balms to your clients. And in the case of MLMs, the introduction of new products means the reps themselves have yet another product to be a "product of a product" for, and there's still some space in their garage.

And if there were no new products, there would be no salvations to talk about at the convention, New products or the next recruit being that stud to explode your business are simply examples of ways to keep you hanging in a few months longer. Carrot dangling!

Right again outside of the financial world. No lotions and potions..

 

[Guest - 73894]

"The problem that the insurance MLMs have, is that their contracts start new people off at (generally) 25%. The upline keeps the 100%+ difference (and what value to THEY bring for that compensation?)... but the new rep only gets 25%. How do they get a higher %? They have to recruit (and I'm sure a few other things)."

The value they bring is training that person. If the new person gets licensed fast, they can be A S

Maybe not personally, however selling to recruits of recruits doesn't change the facts.

So you think that every single client that an agent affiliated with WFG has been only through recruiting? You think that an agent can't sell policies to an individual who only wants insurance?

 

[Guest - 73894]

I ask that question because I've sold policies without recruiting any of these clients and not even referred by anybody that was in the business.

 

[Guest - 73894]

"The problem that the insurance MLMs have, is that their contracts start new people off at (generally) 25%. The upline keeps the 100%+ difference (and what value to THEY bring for that compensation?)... but the new rep only gets 25%. How do they get a higher %? They have to recruit (and I'm sure a few other things)."


I got busy and didn't even notice I had published an answer halfway. Yes, every single person starts in the business at the lowest contract and can get promoted. I also started at the bottom and I'm almost at the Broker contract. Promotions can be obtained through personal production but to obtain the Broker position recruiting has to be done because when you get promoted, you give somebody as an exchange to replace you.

 

[Cornelius]

Listen to the interview with Hector LaMarque and Grant Cardone.. Here is something that always suck with me.

I have heard of top earners in the MLM world with hundreds of thousands of downline making a few hundred thousand a year but I once heard now please don't quote me on this but a top earner in a financial MLM with 1500 downline was making over a million a year..

The surprise wasn't the money. It was the number in the downlines. In the glory years it was said A.L. Williams had a sales force of over 200,000 agents.

People can speak all they want about MLM but a lot of people did and do make some great incomes when matched wirh financial services.

All things are not for everyone. As for toolbelt Mr. Anti Opportunity? For some he may be a dream killer and for others a motivator..

 

[Cornelius]

Recruiting isn't alwys required. Reps can advance from personal production depending on the company guidelines.

Also depending on the company a new and experienced agent doesn't have to start at the lower commission levels.

 

[toolbelt]

Now, I'm listening to the interview that I just posted with Jeff Roberti.

One difference, is that he DID become a "raving fan" of the product... but that's more moral when you're talking about juices or other consumable products... rather than long-term insurance contracts.

Making money via sales and overrides is how an MLM opportunity is marketed to new recruits, lured in the by the earnings of Superstars like JR. What they fail to mention is the other avenues of revenue the big stars live off. JR is a great example. And the web is littered with seminars and conferences and endorsements and dvd sets, which is actually the main profit generator. Even better if they jump ship with complete downlines to a new MLM, and load them up with a brand new product. Anybody want a ticket??? MLM | All Access Event

 

[toolbelt]

Right again outside of the financial world. No lotions and potions..

Once again you are confusing "selling the dream" with products which only serve as bait.