Getting out of my imo

[Miss Independent]

I'm new here. But not new to the industry. I'm looking for some expert guidance from true Independent Agents. I've been with my current IMO for almost 8 years. I'm currently at about 85% on life commissions. (I also write MA MedSup & annuities). I have a small team, but we start agents at 45% and so retention is a problem.
I'm considering leaving my IMO to be actually independent. I'm vested for time of service and I understand that I will be released if I ask for it.
My question is…. My IMO was acquired by Integrity. Many of the new IMOs I'm looking at have also been bought by Integrity. How does that work?? Can I get released by an Integrity company to contract with another integrity company? Does that even make sense to do!!!

 

[Newby]

I'm new here. But not new to the industry. I'm looking for some expert guidance from true Independent Agents. I've been with my current IMO for almost 8 years. I'm currently at about 85% on life commissions. (I also write MA MedSup & annuities). I have a small team, but we start agents at 45% and so retention is a problem.
I'm considering leaving my IMO to be actually independent. I'm vested for time of service and I understand that I will be released if I ask for it.
My question is…. My IMO was acquired by Integrity. Many of the new IMOs I'm looking at have also been bought by Integrity. How does that work?? Can I get released by an Integrity company to contract with another integrity company? Does that even make sense to do!!!

Yes. Integrity agencies do release to other Integrity agencies.
You are team building and only at 85%??!!!! Wow!
With Final Expense companies most agents start at 120% or very close to that with the main FE companies. At that level you can get training, access to lead programs, lead credits, bonuses, earn conventions, etc. there is never any reason to go way less unless you are looking for free office space or something like that.

Read through this to get a better understanding. Getting Started with FE Sales

 

[Miss Independent]

Thanks for confirming I'm not out of my mind. I'm at a "manager" level and told I'm highly compensated. I think it's time I either go out on my own and start my own small agency or negotiate a MUCH higher rate with my current upline.

 

[Allen Trent]

I'm new here. But not new to the industry. I'm looking for some expert guidance from true Independent Agents. I've been with my current IMO for almost 8 years. I'm currently at about 85% on life commissions. (I also write MA MedSup & annuities). I have a small team, but we start agents at 45% and so retention is a problem.
I'm considering leaving my IMO to be actually independent. I'm vested for time of service and I understand that I will be released if I ask for it.
My question is…. My IMO was acquired by Integrity. Many of the new IMOs I'm looking at have also been bought by Integrity. How does that work?? Can I get released by an Integrity company to contract with another integrity company? Does that even make sense to do!!!

to be clear, are you at 85% split with IMO getting 15% or are you saying regardless of carrier you are getting 85% commission on the premium? IMO providing any leads or training to your downline, etc

 

[Todd King]

Thanks for confirming I'm not out of my mind. I'm at a "manager" level and told I'm highly compensated. I think it's time I either go out on my own and start my own small agency or negotiate a MUCH higher rate with my current upline.

I wouldn't bother trying to negotiate with your present upline. They have their model and you're finding out that it doesn't fit you anymore. That's not unusual in these circumstances.

Yes, you will make much more when you go independent, I'm sure. You won't be able to take your team with you unfortunately. I'm sure there is something in your contract with them stating that. (If you actually have a contract with the upline).

Anyway, there are several of us IMO/FMOs on here. As was indicated before, we give 115%-120% to starting agents. With proof of production there is no telling where a good IMO/FMO can start you at.

If you want to give me a call, I can probably lay it out for you as to what you would/should be able to get to start.

 

[Gulliver]

Too bad you were not on here sooner. You will learn a lot on this forum. Good Luck!!

 

[WinoBlues]

I think it's time I either go out on my own and start my own small agency or negotiate a MUCH higher rate with my current upline.

Your current upline has already shown you how much they value you and your team. Why give him another bite of the apple? You will not truly be independent if you are part of his agency. What if he or his bosses choose to not release you today or next year?

Be your own boss.

 

[Cornelius]

Where you are as an Integrity agencies do you have the prospect of being offered an Integrity Deal?

 

[Miss Independent]

I wouldn't bother trying to negotiate with your present upline. They have their model and you're finding out that it doesn't fit you anymore. That's not unusual in these circumstances.

Yes, you will make much more when you go independent, I'm sure. You won't be able to take your team with you unfortunately. I'm sure there is something in your contract with them stating that. (If you actually have a contract with the upline).

Anyway, there are several of us IMO/FMOs on here. As was indicated before, we give 115%-120% to starting agents. With proof of production there is no telling where a good IMO/FMO can start you at.

If you want to give me a call, I can probably lay it out for you as to what you would/should be able to get to start.

 

[Miss Independent]

Thanks! I may just take you up on that!