Has Anybody Worked for LTC Financial Partners?

[ltcadviser]

Then why not guarantee a certain amount of "A" leads to an agent?

There must be limitations?

Mackaroo gets 50 "B" or old leads per week.

Why not more "A" leads?

Why have the agent receive lower compensation of his self generated business?


The Flaws in your system:


1. The agent is not guaranteed any amount of leads. He does take a huge cut in commission though.


2. No open release policy to try it out.


3. Residuals are not vested.


4. Lower compensation on self generated business. (why if you have a great lead system?)


I know certain agents will be "taken care of", like many captive shops. The vast majority will not.

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Mackaroo, you came on here and I suspected a shill. I can see you are not just a curious agent about LTCFP.

Then with the other LTCFP shill, coming on here, It is obvious.

Why not be straightforward?

I am not so sure Mackaroo is a shill as we know "LTCFP" is.
I think Mackaroo really is curious as to whether LTC production can be done outside of a group such as AARP, Acsia, LTCFP, etc.

Now, we all know it can be done, and done very well. But Mackaroo does not.

Mackaroo has been tied into the lead system for so long that Mackaroo is just dependent upon it. Of course, it doesn't help matters that recruiters and shills like "LTCFP" try to convince its recruits that it is giving and not taking. But I suppose all hierarchies and pyramids are like this.

 

[CALTCAgent]

[/QUOTE]Mackaroo has been tied into the lead system for so long that Mackaroo is just dependent upon it. Of course, it doesn't help matters that recruiters and shills like "LTCFP" try to convince its recruits that it is giving and not taking. But I suppose all hierarchies and pyramids are like this.[/QUOTE]

If they got rid of the lower contract for self generated leads, it would make more sense to me.

 

[ltcadviser]

Mackaroo has been tied into the lead system for so long that Mackaroo is just dependent upon it. Of course, it doesn't help matters that recruiters and shills like "LTCFP" try to convince its recruits that it is giving and not taking. But I suppose all hierarchies and pyramids are like this.[/QUOTE]

If they got ride of the lower contract for self generated leads, it would make more sense to me.[/QUOTE]

Well, LTCFP pays 60%, correct for self-generated business??

So, what would you propose? LTCFP and Acsia pay 75% FYC for self generated business??

I think it would make more sense if LTCFP and ACSIA just paid everyone on a street level 60/6 contract for all business. And continue to provide leads on an incentivized basis to the producers. Top producers get the A leads. That would be more than fair. They are getting enough of an override to begin with as the BGA, that to give an agent 35%---an agent that was probably sold on the lead availability as the reason to sign up to begin with---is just an incredibly bad deal.

Just look at the numbers if an agent is solely relying upon leads for production: let's say an agent submits one application a week for average premium of $4000. Submits $200,000 premium a year. 30% of premium is declined or not taken. Places $140,000 premium. Gets paid 35%. Makes $49,000.

That is just a ton of work with underwriting, webinars, etc. to make no money. And I am sure the renewals are lower too.

And I think you said vesting does not occur for 3 years?

And LTCFP does not have relationships with Genworth, or Mass Mutual--which might be 2 of the best carriers to work with right now?

There are just a lot of negatives.

To make the same amount of money, a non-captive agent might need to just self generate $90,000 of submitted business and place $60,000 vs. submitting $200,000 and placing $140,000.

The real key would be the resultant free time that would be revealed by not having to work so hard to make so little.

There is only so much time in the day, and there is not enough time to work for 35% FYC.

So, Mackaroo... or whomever...could utilize the free time to focus on a business plan.... marketing, relationship building, designing and writing content for a website, blogging, ...so many things that will ultimately create business.

Or just work with an internet marketing pro that can help with PPC, landing page conversion, Google Analytics, websites, SEO, internet search, whatever.

It really doesn't matter what someone does with the time but 35% is just slave labor IMHO.

 

[CALTCAgent]

So, what would you propose? LTCFP and Acsia pay 75% FYC for self generated business??

Yes.

an agent that was probably sold on the lead availability as the reason to sign up to begin with---is just an incredibly bad deal.

Agreed. Most won't get the leads they think they will, IMO.

Just look at the numbers if an agent is solely relying upon leads for production: let's say an agent submits one application a week for average premium of $4000. Submits $200,000 premium a year. 30% of premium is declined or not taken. Places $140,000 premium. Gets paid 35%. Makes $49,000.

That is just a ton of work with underwriting, webinars, etc. to make no money. And I am sure the renewals are lower too.

Great deal for LTCFP plus renewals they keep.

And LTCFP does not have relationships with Genworth, or Mass Mutual--which might be 2 of the best carriers to work with right now?

So they have the agent handcuffed.

It really doesn't matter what someone does with the time but 35% is just slave labor IMHO.

It is. The least they could do is not take money from the second job you will need(self generated business)

 

[xrac]

That is an awful arrangement. Sure hope they allow you to sell companies other than Hancock, Omaha, Transamerica, Medamerica and Life Secure.

That is what I thought.

 

[ltcadviser]

Yes.



Agreed. Most won't get the leads they think they will, IMO.



Great deal for LTCFP plus renewals they keep.





So they have the agent handcuffed.



It is. The least they could do is not take money from the second job you will need(self generated business)

Agree with everything you say, but I actually think the agents get a ton of leads. Think about it. What's better for LTCFP- paying 35% or paying 60%? If you are LTCFP, you want to bombard your agents with leads that cost you $10-20 to generate. And the aged leads just get churned over for years. You want your agents calling leads constantly because the margins at 35% are huge.

 

[eddie]

When I spoke to them they said you get 25 "A" leads to start and you are required to make 4 appointments minimum in order to get 25 more "A" leads. Then, after that you are required to get 4 sales minimum (they didn't mention premium amount), in order to stay on their lead program. They told me they are direct mail leads. If they are internet leads I wouldn't be so sure about the quality of those. Thoughts?

 

[CALTCAgent]

When I spoke to them they said you get 25 "A" leads to start and you are required to make 4 appointments minimum in order to get 25 more "A" leads. Then, after that you are required to get 4 sales minimum (they didn't mention premium amount), in order to stay on their lead program. They told me they are direct mail leads. If they are internet leads I wouldn't be so sure about the quality of those. Thoughts?

Nothing is in writing or guaranteed about the leads. Just talk from them.

If "A" leads are new direct mail leads, what area and time frame will they be delivered?

Will they wait for the 4 policies to be delivered before they drop the mail for the additional 25 leads? (if so long wait)

It looks like the typical captive agent revolving door burn out system that has been done before. Everything is in their favor.

You will be stuck at low contracts and have to wait it out to be released too. This is where the lower than street "self generated" business commission comes in handy in their favor.

 

[ltcadviser]

When I spoke to them they said you get 25 "A" leads to start and you are required to make 4 appointments minimum in order to get 25 more "A" leads. Then, after that you are required to get 4 sales minimum (they didn't mention premium amount), in order to stay on their lead program. They told me they are direct mail leads. If they are internet leads I wouldn't be so sure about the quality of those. Thoughts?

I am fairly certain they will provide you Internet leads not direct mail leads. The quality of internet needs are better, I think, than direct mail leads. At least they are in real time. Direct mail would be preferable if you target a certain area near where you live. I prefer internet leads though. The issue is you make nothing for your efforts. And the leads are not exclusive. Internet shoppers go to multiple sites filling out forms. So, you are making low return on your time. And you cant write Mass Mutual, Genworth, NY Life. And as CALTC points out---no vesting.

 

[Mr_Ed]

I am fairly certain they will provide you Internet leads not direct mail leads. The quality of internet needs are better, I think, than direct mail leads. At least they are in real time. Direct mail would be preferable if you target a certain area near where you live. I prefer internet leads though. The issue is you make nothing for your efforts. And the leads are not exclusive. Internet shoppers go to multiple sites filling out forms. So, you are making low return on your time. And you cant write Mass Mutual, Genworth, NY Life. And as CALTC points out---no vesting.

plus ltcfp charges their agents for the leads.
so the agents are not only getting much lower comp they are also having to pay for each lead.