Hi there. I am new to the forum and relatively new to the industry. I got licensed and joined on with a local broker who is actually the person that advised me to get licensed. This guy is my wife's uncle and I thought he was helping me out after I got laid off when the local plant shut down but now I'm not so sure but being so new I don't quite know the ropes and I am looking for some clarity on what has transpired. When I signed on he insisted that I become what he called an LOA agent. This was allegedly to save me money for lead fees and E&O insurance. That was supposed to be the only reason for it. He was helping me.
Every now and then he would send me to one of his old clients that got taken by some MMP passive enrollment and I would sign them up, usually for a UHC plan. He would tell me how he was essentially giving me a client and that he was losing that client. I thought wow what a huge help. As an LOA agent all the commisions went to him for everything I sold and he cut me a check for a reduced amount of $175.00 and he kept the rest. He told me this was to help me get on my feet but soon I realized that I could pay the $30 insurance and the $25 successfully sold lead fees easily if I was getting the full commission. I started wondering what was happening and if I was getting the wool pulled over my eyes. I then asked when I could come off the LOA and be independent which he calls a street agent.
This was back in January and he said trust me, this is to help you and you can come off in June. June came and he said no, now's not a good time let's talk again in August...August came and he got indignant and said fine Let's do it but then he never did. When I brought it up again he acted as if he had no memory of it. I finally called his partner and it made something happen and now it seems like I will be a "street agent" in time for the AEP but that is so far not actually official. Here is the kicker...I was never told he would take my clients that I've sold and serviced until just last week. He will get the renewals for all my hard work starting in Jan.
He has already set my clients to go to him as of 12/31/2020 when I look in the various systems for my business like for UHC. He told me all year long to keep selling so and push through this first year and then it will be smooth sailing when I get my renewals. I won't be getting them, he will. I am not sure what to think or say or do, I am in shock. If I stay on I will be starting from scratch to build my client base from nothing starting in January. This is very deflating to say the least. I wasn't saved any money I feel like I was instead robbed on multiple levels. I don't know if this kind of thing is common but I am looking for any insight or advice as to possibly moving to hang my license somewhere else or should I stick it out? I just don't know what to do.
Every now and then he would send me to one of his old clients that got taken by some MMP passive enrollment and I would sign them up, usually for a UHC plan. He would tell me how he was essentially giving me a client and that he was losing that client. I thought wow what a huge help. As an LOA agent all the commisions went to him for everything I sold and he cut me a check for a reduced amount of $175.00 and he kept the rest. He told me this was to help me get on my feet but soon I realized that I could pay the $30 insurance and the $25 successfully sold lead fees easily if I was getting the full commission. I started wondering what was happening and if I was getting the wool pulled over my eyes. I then asked when I could come off the LOA and be independent which he calls a street agent.
This was back in January and he said trust me, this is to help you and you can come off in June. June came and he said no, now's not a good time let's talk again in August...August came and he got indignant and said fine Let's do it but then he never did. When I brought it up again he acted as if he had no memory of it. I finally called his partner and it made something happen and now it seems like I will be a "street agent" in time for the AEP but that is so far not actually official. Here is the kicker...I was never told he would take my clients that I've sold and serviced until just last week. He will get the renewals for all my hard work starting in Jan.
He has already set my clients to go to him as of 12/31/2020 when I look in the various systems for my business like for UHC. He told me all year long to keep selling so and push through this first year and then it will be smooth sailing when I get my renewals. I won't be getting them, he will. I am not sure what to think or say or do, I am in shock. If I stay on I will be starting from scratch to build my client base from nothing starting in January. This is very deflating to say the least. I wasn't saved any money I feel like I was instead robbed on multiple levels. I don't know if this kind of thing is common but I am looking for any insight or advice as to possibly moving to hang my license somewhere else or should I stick it out? I just don't know what to do.
