I’m an independent agent, considering joining an agency. They want me to join as a 1099 independent contractor, I have 1 group, decent size 100+, sold and serviced myself for last two years. The agency said I could keep that group, 100% commission, any new business would be a 50/50 split. I will continue to service the group. The agency isn’t paying for any expenses, no phone, mileage, etc. obviously, since I’m 1099. My office is in my home. Now, for some reason they’re expecting a share of this group. What could their reasoning even be? No one would be involved in it at the agency? I’m having second thoughts. I’m actually helping them, as their marketing materials, presentations, etc are geared toward smaller groups, I’ve revised these and I’m gathering information and researching the marketplace of vendors and TPA’s for alternative funding, RBP, as well as other solutions, to get the agency into more of the mid market sector. I’m completely independent and don’t require assistance. Comments, advice would be appreciated.
Independent Agent joining agency, employee benefits
- Thread starter JamesP
- Start date
Packerland
Guru
- 504
I think this is a no-brainer why would you even consider joining them...
You seem to be doing just fine on your own. I would never in a million years give up 50% of my commissions never ever ever ever ever
You seem to be doing just fine on your own. I would never in a million years give up 50% of my commissions never ever ever ever ever
Something does not seem right, and if what you state is true, I would not get involved with this agency. To begin with, their deal included you keeping control/commission on your large group, but then they reneged and want 50%. Not a great way to start a relationship. The other issue is the 50/50 split. What are you getting for the 50% you give them? It appears that you will be working in your home office and covering your expenses. I might consider a 50% if I was an employee with benefits, expenses, etc., but not in this situation.
Packer land is right, this is a no brained.
Packer land is right, this is a no brained.
- Thread starter
- #4
Thank you. What I’m saying is true, and I now I’m going to hear s#**t from some of you, and it’s deserved, it’s a friend, and when I met with him, he said, “it’s 1099, 50/50; but we’re not going to take any of the groups you have now ( I have a few small ones); he actually asked me to work for him, as I was on my own and wanted a support staff. And yes, there is nothing he is offering except support on new groups. Just had to hear it from others, thanks so much! I will be staying truly, independent!
Hi. Did not mean to question your truthfulness, please do not take it that way.
Maybe I missed something the first few times I read the OP, but what is JamesP getting in exchange for giving up half his commission?
If you are open to it, I am willing to get licensed in FLand take 50% of your future sales while giving you nothing of value in return.
If you are open to it, I am willing to get licensed in FLand take 50% of your future sales while giving you nothing of value in return.
- 29,487
Troublemaker.
- Thread starter
- #8
Same here! Why just why?
Reason could be greed???? 50% for nothing sounds real good for them and real bad for you
