- 1,160
Is anyone familiar with LTC Financial Partners?
LTC Financial Partners
- Thread starter Cenla Agent
- Start date
-
- Tags
- long term care
G
Guest
Guest
Yes, I am. I've had number of conversations with a couple of their West coast people. It's a big commitment and a $2K investment but I think they have the "right stuff" assuming LTC ever gets off the ground... as has been predicted every year since the dinosaurs roamed!
- 202
Why wuld someone have to pay to make them money? don't they make overrides. what is the 2,000 for?
- Thread starter
- #4
- 1,160
This helpful response from Al illustrates the value of this forum and prevented me from wasting valuable time.
If Al hadn't posted this, it appears that I would not have been advised of the investment requirement until a subsequent sit down interview. I had a phone interview today and the investment was never mentioned until I brought it up when the interviewer was attempting to schedule the next interview.
The interviewer also seemed to be reading from a script at times and when discussing MA and Supps. (apparently in an unnecessary and unwise attempt to create some common ground) came off as far too confident on matters in which she was clearly rather uninformed. Better to admit ignorance on a product than try to argue with an experienced agent about it. I'm not about to try to argue with an LTCi pro about what's going on in that market since I don't know much about it other than some generalities.
One would assume that a different approach is taken when dealing with clients or it's a wonder any sales are made at all.
Based on the above, (which I realize may not accurately represent the company as a whole) I was much more impressed with the Genworth people I met with a couple of years ago.
- - - - - - - - - - - - - - - - - -
You become a partner in the company and have equity.
Last edited:
G
Guest
Guest
When I spoke with them the $2k covered the cost of two weeks of classroom training in Seattle. I'm told they now bring the classes to the regions.
The issue with LTCFP is that they want a commitment that LTC is going to be your prime directive. You are not captive and you can sell other products but they only want to bring people on board who are going to do 95% of their biz in LTC.
The concept is that you become an equity partner and get a year-end payout if the agency makes money.
The agents I spoke with who are partners are first-rate people with a ton of experience in LTC and this biz. I don't believe that this is a rip-off at all. I didn't join because I would not make the 95% commitment... but I'm still thinking about it. Like I say, if LTC every reaches the front-burner (perhaps via a huge tax break for purchase) I'd jump in.
YMMV.
- Thread starter
- #7
- 1,160
From what I've seen so far it doesn't appear to be a rip off either for people who are able and committed to getting into that market. (Although as I noted above the interaction today got off on the wrong foot from the beginning, with the assumption apparently being that I was the typical MA peddler who knows nothing about the industry.) It's just not the right opportunity or focus for me at this time.
I just appreciated the information you posted since evidently the information about the investment wasn't going to be divulged until the sit down interview. Once I brought it up she then explained that it was for the training and that it could be earned back within a few weeks after training. If I heard correctly, there are more "buy in" opportunities as you progress further with the company.
Their recruiters are hammering this area (this was the second time I had been contacted about it) because they have an upcoming class in New Orleans next month. I was told that KC is in July and somewhere else in Aug.
- 202
when i look back on my time in this business i've noticed that the managers that were the best recruiters were the worst trainers. the best trainers were usually lousy recruiters.
I've been talking to them lately too, and they seem like a great bunch of folks. As I understand it, the option where you have to "buy in" at $2k isn't the only way to get established with them.
I'll post more as I learn more.
I'll post more as I learn more.
I spoke with them as well and it's difficult to committ to the $2k I agree. They said you would have to write at least $30,000 or more withing a certain timeframe to get reimbursed up to $1,500 of your investment back. They were very not very clear on this. I have a fellow agent that is with them and she produced over $100k in annual premium since Jan. 09 and she didn't get anything back. Apparently they give you leads and at 25% commish you get 8 leads/week. She does webinars with them. I was curious if there was any other outfit where the $2k investment is not needed. I think its a bit much for training. They told me it is a week training and that covers your air/hotel/meals and first batch of leads. Sounds like the training is intense, but that investment is a bit deep.
Last edited:
Similar threads
