Interviewing IMOs/FMOs - Red Flags? What to Ask? Tips/Advice?

[InsuranceQs]

I'm interviewing IMOs/FMOs to support a new agency... Any advice on which questions to ask? Red flags to look out for? Tips or advice?

Thanks in advance for your expertise!

 

[Matthew King]

Hi, we've recently put together (what I think) is a pretty extensive list of questions agents ask us and what we think agents should ask us on our site here: Frequently Asked Questions by Insurance Agents (FAQs) | TRKingIM

In short:

• Ask about pre-release agreements and releases. See IT in writing.
• Specifically, ask about getting released from contracts if you ever decide to leave.
• Ask if you will be given a paper copy of the commission schedules.
• Ask about how they are going to support you.
• Depend on your goal, you may want to ask if they will let you build an agency

These are just some that I can think of right now.

 

[InsuranceQs]

Thanks so much!

 

[MosesNewmanNAAIP]

All the items listed above. Shop 4-5 times before you sign any contract. Let N.A.A.I.P. get you more money.

 

[HoosierLife]

Types of IMOs - LearningFE

 

[Mattschmidt]

I'd start by seeing how much time they spend on the forums, and how often the openly recruit on an insurance forum. The more they are constantly recruiting, the bigger the red flag

 

[FinalExpenseDojo.com]

I did a video recently on this topic... Check it out!