Leaving Symmetry Questions for people that have done it

[MLMDEFECTOR]

This forum has been an incredible resource in this decision but after nearly a year and a half, I’ve decided that SFG was paying me like garbage and I’m surprised I lasted as long as I have.

For people curious/considering SFG, I’m leaving because even after working to 85% commission, there is little to no margin because 65% net issued rate is standard on business, A leads are $36 at my commission level and I’m finding are always actually worked by other agents before I get them and the “bonus leads” are actually $7 resold telemarketing leads that are 5+ weeks old and have already been worked! There is nearly ZERO value of an aged telemarketing lead at SFG especially one that’s already been worked. The “mandatory” national conference is in Washington DC and will likely cost you $2k to get to—which nobody has unless you’re at my level or above (put the investment on your credit card is their advice). Trust me coming from someone who is considered a “Top Producer” it’s not a profitable system period. Building isn’t the answer because anyone who knows how to sell insurance won’t contract for 60% buying their own leads.

It has been impossible to get a copy of any of my contracts or documentation from symmetry so I just wanted to see if anyone here has had any issues leaving Symmetry Financial Group outside of some of my carriers being tied up for 6 months? What do I need to be careful not to do?

 

[Todd King]

This forum has been an incredible resource in this decision but after nearly a year and a half, I’ve decided that SFG was paying me like garbage and I’m surprised I lasted as long as I have.

For people curious/considering SFG, I’m leaving because even after working to 85% commission, there is little to no margin because 65% net issued rate is standard on business, A leads are $36 at my commission level and I’m finding are always actually worked by other agents before I get them and the “bonus leads” are actually $7 resold telemarketing leads that are 5+ weeks old and have already been worked! There is nearly ZERO value of an aged telemarketing lead at SFG especially one that’s already been worked. The “mandatory” national conference is in Washington DC and will likely cost you $2k to get to—which nobody has unless you’re at my level or above (put the investment on your credit card is their advice). Trust me coming from someone who is considered a “Top Producer” it’s not a profitable system period. Building isn’t the answer because anyone who knows how to sell insurance won’t contract for 60% buying their own leads.

It has been impossible to get a copy of any of my contracts or documentation from symmetry so I just wanted to see if anyone here has had any issues leaving Symmetry Financial Group outside of some of my carriers being tied up for 6 months? What do I need to be careful not to do?

If they will not give you a release, it's okay. There are still many carriers that you can use until your 6 month "sit out period" has ended. Don't worry, just find your new IMO and go from there.

 

[Newby]

This forum has been an incredible resource in this decision but after nearly a year and a half, I’ve decided that SFG was paying me like garbage and I’m surprised I lasted as long as I have.

For people curious/considering SFG, I’m leaving because even after working to 85% commission, there is little to no margin because 65% net issued rate is standard on business, A leads are $36 at my commission level and I’m finding are always actually worked by other agents before I get them and the “bonus leads” are actually $7 resold telemarketing leads that are 5+ weeks old and have already been worked! There is nearly ZERO value of an aged telemarketing lead at SFG especially one that’s already been worked. The “mandatory” national conference is in Washington DC and will likely cost you $2k to get to—which nobody has unless you’re at my level or above (put the investment on your credit card is their advice). Trust me coming from someone who is considered a “Top Producer” it’s not a profitable system period. Building isn’t the answer because anyone who knows how to sell insurance won’t contract for 60% buying their own leads.

It has been impossible to get a copy of any of my contracts or documentation from symmetry so I just wanted to see if anyone here has had any issues leaving Symmetry Financial Group outside of some of my carriers being tied up for 6 months? What do I need to be careful not to do?

The thing you want to remember is to CANCEL you contracts with those carriers after you move on and get appointed elsewhere. If you just let them lay there you will find some problems re-appointing ever after 6-months of non production.

 

[MLMDEFECTOR]

The thing you want to remember is to CANCEL you contracts with those carriers after you move on and get appointed elsewhere. If you just let them lay there you will find some problems re-appointing ever after 6-months of non production.

That’s what I’m looking for thank you!

So call and say “please cancel my appointment”?

Then immediately recontract with the new group instead of waiting 6 mo?

 

[Todd King]

That’s what I’m looking for thank you!

So call and say “please cancel my appointment”?

Then immediately recontract with the new group instead of waiting 6 mo?

Yes, but you most likely will not be able to re-contract with your present companies for a period of 6 months. You'll have to use other carriers, at least until your 6 months is up.

 

[Newby]

That’s what I’m looking for thank you!

So call and say “please cancel my appointment”?

Then immediately recontract with the new group instead of waiting 6 mo?

No. You will usually need to cancel in writing. An email to their contracting department is usually good enough. Then you wait 6-months.

But if you just sit out six months without canceling, you will find with some companies that they wont let you re-contract until you cancel first and then wait six more months.

Other times you will have wasted six months only to find that some agent they stuck in your down line wrote a policy and you have to start the wait all over again.

And other times you may find that they won’t let the new IMO increase your commission level if you move from one IMO to another. But if you have been canceled for 6-months that is not an issue.

If you can get a release from Symmetry it will speed everything up.

 

[RodeoAnnouncer]

Following

 

[HoosierLife]

We have a lot of ex-Symmetry agents over here. I can let you chat with a few of them if you'd like. Just let me know.

 

[Newmar1997]

How do you cancel contracts with the carriers from my IMO? My IMO say they work with 30 carriers. How do you deal with that?

 

[Newmar1997]

If they will not give you a release, it's okay. There are still many carriers that you can use until your 6 month "sit out period" has ended. Don't worry, just find your new IMO and go from there.

Which carriers do you recommend for someone new to the industry?