Has Anybody Worked for LTC Financial Partners?

[CALTCAgent]

Please read your internal documents before posting on a public forum.

Care to define internal documents?

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I am new to this forum - but it is rather confusing - how will being independent influence your ability to sell?

Have you read through the forum before posting this?

There are so many examples out there.

Perhaps better way to go would be to tap people who sell for help & training?

When you say "tap", what do you mean?

Leads, as any resource - are not cheap, and the company like LTCFP has to ration based on what can be recouped.

Do you have any connection to LTCFP?

You'd do well to see what lead costs look like. There are people at LTCFP who buy these same leads and do quite well.

Since you are familiar with LTCFP......

Can you explain the cost & lead system at LTCFP?

So far there has been nothing but conflicting information about their lead programs. Everybody has a different take on what is offered.

 

[ltci4sure]

Care to define internal documents?

I was referring to the fact that the original poster works for LTCFP. They surely provided an explanation, with the poster appearing to have taken facts out of the context.

Have you read through the forum before posting this?
There are so many examples out there.

Read through the posts indeed. Examples are short on specifics (disclaimer: I have not spent any significant amount of time on research). A good breakdown would have the cost of leads, factored response rate if applicable (mail leads), appointment rate, closing rate, placement rate and final figure. With a volume of placed business to show that it is not a fluke measurement. In this case you'd have X amount spent on leads/marketing, Y on tech support and other business related expenses, correlated against the Z amount of income + renewals.

When you say "tap", what do you mean?

What I mean is that one of the great reasons to join an organization such as LTCFP is that you have peer support, as well as back office support. If you are encountering difficulties - they're there to help you - be it training, lead problems or other matters. You are NOT alone out there (unless you choose not to use support that's made available).

Do you have any connection to LTCFP?

Does that at all matter?

Can you explain the cost & lead system at LTCFP?
So far there has been nothing but conflicting information about their lead programs. Everybody has a different take on what is offered.

While I could provide some information, I believe it is best left to LTCFP itself.
If you would like to see if this org is good for you - give them a call and have a substantial discussion.

Look at it this way. I am a Costco member - have been for the last 20+ years. I think it offers a great value - surely you can buy things cheaper, but with the savings of time and effort (plus the return policy and rebates) - it is a better value than having to shop elsewhere most of the time. It is sort of the same with LTCFP. It offers a great value for some people - and not so much for others. Making blanket statements that "it does not work" - does not work

 

[ltcadviser]

LTCFP will very shortly only accept JH from California.

So what.

 

[Irena]

Hello,
My name is Irena. I work in the lead department at LTCFP. If you have any questions about leads or our company feel free to contact me here or directly at [email protected] or 425-284-4867.

 

[Irena]

The reason the math doesn't work is because the compensation is awful not the lead quality. I will bet you the top producers that have been there from the beginning are not writing business at 35%. No way. They are getting leads and making more than 35%. Have to be.

This is Irena. I work for LTCFP. You are correct, top producers have the option to take leads provided by the company at 35% first year commission or purchase leads for a higher commission rate. We have top producers who choose the 35%, so they don't have to worry about spending anything on leads. We also have many top producers who purchase leads from the company and/or other sources and receive a higher commission. The higher commission is also paid on all referral business and agent generated business such as strategic partnerships etc. Generally top producers work multiple types of leads, some may be provided by the company and some agent generated.

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This is Irena. I work for LTCFP in the lead department. Below are some clarifications on how the lead program works.

With their system, in another post, someone said you must make 4 sales out of every 25 leads. So, 1 out of every 6 leads must result in a sale. Or no more leads.

For a new agent coming to LTCFP the expectation is that you would get 4 APPOINTMENTS out of the first 25 leads, not SALES. Once the 4 appointment number is hit we will give you 25 more leads. Out of the first 50 total we would expect 4 applications. (that could be 2 sales with spouses)

After that initial stage the expectation is 1 APPLICATION for ever 10 leads received. Again, spouses where you collect 2 applications will count separately, so for that you would get 20 leads.

You also only get 25 a month. Not the makings for a living wage.

How many leads you get is based on your production. For full time producers who make their living selling LTC, the lead volume is much higher. We have producers who receive 25+ leads per week.

We must factor in Declined & not taken applications. So lets say 80% of submitted applications are sales.

This means we need to take an application on 1 out of every 5 leads.

Leads are determined based on submitted applications, not placed. We do look at your placement rate. As long as you keep that at 60% or higher your leads will not be affected.

I'd think it would be easy to not hit that ratio. Have a tough batch or various other things that can go wrong. Especially for a new agent.

Someone also said you pay for your own leads. So I must pay for my own leads, always close 1 out of 5 of them, or have them stop.

Oh yeah, nothing is in writing and these rules are subject to change based on management discretion.

I call it a flawed system.

I can understand how you would feel that the system is flawed as you received incorrect information on the ratio expectations for conversion. I hope the information I provided helps. If you have any questions please let me know.

 

[CALTCAgent]

This is Irena. I work for LTCFP. You are correct, top producers have the option to take leads provided by the company at 35% first year commission or purchase leads for a higher commission rate. [/B]

What is the higher rate?

What do leads cost?

We also have many top producers who purchase leads from the company and/or other sources and receive a higher commission. The higher commission is also paid on all referral business and agent generated business such as strategic partnerships etc. [/B]

What is the higher rate? (this is getting redundant)

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I can understand how you would feel that the system is flawed as you received incorrect information on the ratio expectations for conversion. I hope the information I provided helps, [/B]

What are the correct ratios?

 

[ltci4sure]

What is the higher rate?
What do leads cost?
What are the correct ratios?

I dont think she should bother. Your questions are purely academic in nature. No matter what she comes back with - you'll declare it to be bogus and bad or find some fault with it.

 

[Irena]

This is Irena. I work for LTCFP. You are correct, top producers have the option to take leads provided by the company at 35% first year commission or purchase leads for a higher commission rate. [/B]

What is the higher rate?

The higher rate for experiences producers is 60/6/4

What do leads cost?

Internet leads purchased from LTCFP are $57.50 each. We have a dispute policy for bogus leads and give credit for those.
If you want to do direct mail you buy the mailers (1000 pieces or more) and we give you the cost that we pay to the vendor. That will depend on which vendor you'd like to use (we choose the best one based on the state you want to mail in). The one that we use most often is $450 per 1000.

LTCFP does not make money on the leads we sell to agents. The cost of leads is based on how much we pay for them.

We also have many top producers who purchase leads from the company and/or other sources and receive a higher commission. The higher commission is also paid on all referral business and agent generated business such as strategic partnerships etc. [/B]

What is the higher rate? (this is getting redundant)
60/6/4
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What are the correct ratios?

1 application for every 10 leads.

I hope this information is useful[/B]

 

[CALTCAgent]

I dont think she should bother. Your questions are purely academic in nature. No matter what she comes back with - you'll declare it to be bogus and bad or find some fault with it.

Why don't you try?

I am just being honest. Not trying to find fault.

But if an agent is self generating or buying his own leads, why would he take less than what he currently gets?

 

[Arthur Rudnick]

Irena,
Thanks for stepping in and answering some questions. If any members here have additional questions and/or concerns regarding LTCFP, they should contact you directly.

And, if any of you want to see what LTCFPs is about, go to:
http://www.ltcfp.com/ and click on "Career Center".

Enough with the pi--ing contest already.