Hello. What is the difference between fmo,imo and mlm ?

Jul 20, 2019

  1. SiebenSiente7
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    SiebenSiente7 New Member

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    Hello. What is the difference between fmo,imo and mlm ?
     
  2. InsuranceIsLife
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    InsuranceIsLife Expert

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    FMO/IMO's are fairly similar and normally offer services above and beyond insurance products (quoters, leads, etc) and typically offer the highest comp.
    MLM - Search Primerica
     
  3. SiebenSiente7
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    SiebenSiente7 New Member

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    Thnk you.
    Do FMO/IMO also focus so much on recruiting as many MLM"s?
     
  4. SiebenSiente7
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    SiebenSiente7 New Member

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    Also, Where is best place to learn the business?
     
  5. DHK
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    Unfortunately, because you're new, you have no ideal how broad of a question that really is.

    Start here to gain some clarity:
     
    DHK, Jul 21, 2019
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  6. InsuranceIsLife
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    No, they don't focus too much on recruiting, they do, but not anything like some agencies or a Primerica, WFG, MassMutual, NorthWestern. They are able to pay a lot higher comp so don't get nearly as much override as the sales managers of those named companies. That said, don't expect much training, hand holding or 1v1 time with an IMO.

    If you are new to the biz, you need training. Mass, NYL, NorthWestern will force you out your comfort zone, take you in the field and make you a better producer... you can quit after a few months after you're familiar with how products work, prospecting, sales strategies, scripting, etc and go Indy with an IMO.

    Many people may disagree, but Western&Southern would be a great agency to start with. Solid training program, salary program for inexperienced agents, comp is decent compared to some others and have access to like 3 carriers, so you're not totally "captive." It sucks, but you have to start somewhere
     
  7. SiebenSiente7
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    SiebenSiente7 New Member

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    Thank you both VERY much for the info.
     
  8. DHK
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    They just don't get talked about much. Same with Prudential, John Hancock, Securian, and other 'captive' companies.
     
    DHK, Jul 21, 2019
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  9. entrep1776
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    So if as a new captive agent with western & southern, could I only write their 3 products? If I quit after 3 months of training could I continue to write their 3 carriers & other carriers? Would i keep what I write with them? Read my contract, but just wanting input /speculation.
     
  10. Mike007
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    This industry is very difficult. From my experience, 9 out of 10 people don't make it. And the reason most of those people don't make it is:

    They can't get out of their comfort zone.
    They can't find customers beyond their friends and family.

    What is your sales background? Do you have any marketing background?

    This industry is no joke. When you are talking to a recruiter, it sounds like it's very easy to do but it isn't. How comfortable are you when talking to strangers? Can you ask a stranger to buy something from you? Do you have money to invest in your career? Can you handle the pressure? The pressure to sell, the pressure to find clients, the pressure to meet quotas?

    As others have said, you are not a good candidate for any IMO, FMO, or MLM at the moment because most IMO/FMO just hand you a contract and says "Good Luck". MLM is local but they preach all the wrong things....recruit, recruit, recruit.

    Avoid contracting with anyone that is far from you. You need someone that has an office in your local area. You need to be able to use their office. Have hands-on training. And be able to access them anytime you need them. Pick the right trainer/manager, your career may depend on it.

    If all this is overwhelming, maybe you should find a local agent and work under him/her for a year or two to get your feet wet as an assistant before becoming a full-blown agent.
     
    Last edited: Jul 21, 2019
    Mike007, Jul 21, 2019
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