LTC Financial Partners

[blessed7458]

Hello! Can anyone provide feedback about this group. I am to have a phone interview, but have read a couple bad reviews about them, including having to pay them $2,000 - $4,000 for training. Surprised Genworth isn't in their offerings.

Any feedback would be most appreciated. Thanks and Be Blessed!

 

[tins]

Hello! Can anyone provide feedback about this group. I am to have a phone interview, but have read a couple bad reviews about them, including having to pay them $2,000 - $4,000 for training. Surprised Genworth isn't in their offerings.

Any feedback would be most appreciated. Thanks and Be Blessed!

They are on the forum using the name 'LTCFP' and keep starting spam threads.

 

[Arthur Rudnick]

LTC Financial Partners is a marketing organization, made up of individual agents who are all technically "partners".

They share in any profits based on business submitted.

LTCFP (who is posting here) is just one agent who many believe is making posts in order to get unsuspecting agents to join.

Here's their website:
LTCFP Long Term Care Insurance Specialists

Genworth is not in their offerings because the start-up of LTCFP was originally captive Genworth agents who left in order to start their own business.

Stealing a captive agent force is not an ethical thing to do and as punishment, Genworth will not allow anyone from LTCFP to submit business. At least that's my understanding.

Personally, I'm not sure how any agent today can have a portfolio of LTC products without Genworth. Genworth is only the largest LTC carrier on the planet.

 

[Mr_Ed]

Hello! Can anyone provide feedback about this group. I am to have a phone interview, but have read a couple bad reviews about them, including having to pay them $2,000 - $4,000 for training. Surprised Genworth isn't in their offerings.

Any feedback would be most appreciated. Thanks and Be Blessed!

Every LTCi specialist needs to have a contract with Genworth.
- - - - - - - - - - - - - - - - - -

LTC Financial Partners is a marketing organization, made up of individual agents who are all technically "partners".

They share in any profits based on business submitted.

LTCFP (who is posting here) is just one agent who many believe is making posts in order to get unsuspecting agents to join.

Here's their website:
LTCFP Long Term Care Insurance Specialists

Genworth is not in their offerings because the start-up of LTCFP was originally captive Genworth agents who left in order to start their own business.

Stealing a captive agent force is not an ethical thing to do and as punishment, Genworth will not allow anyone from LTCFP to submit business. At least that's my understanding.

Personally, I'm not sure how any agent today can have a portfolio of LTC products without Genworth. Genworth is only the largest LTC carrier on the planet.

Arthur,
they are not all partners.
you've got to place $50k of premium in one year before you can be labeled "partner".
The fact that so many are NOT "partner" basically means that many of them are making less than the teenager flipping burgers.

 

[CALTCAgent]

Good info on them!

Wow, $2,000 to $4,000 for training, when they are going to get an override. I bet the training is as a group and just the basics. Doesn't seem like a good deal to me.

 

[billberry12]

and.......the fewer the "partners", the bigger the slice of overides and renewal splits on all the businesss the agents that sell a few policies for the "partners" and can't make "partner" and quit. What a system for the "partners".

BEEN THERE, DONE THAT...GOT A FEW T-SHIRTS.

I think I'll pass on this one, thank you.

 

[ltcadviser]

LTC Financial Partners is a marketing organization, made up of individual agents who are all technically "partners".

They share in any profits based on business submitted.

LTCFP (who is posting here) is just one agent who many believe is making posts in order to get unsuspecting agents to join.

Here's their website:
LTCFP Long Term Care Insurance Specialists

Genworth is not in their offerings because the start-up of LTCFP was originally captive Genworth agents who left in order to start their own business.

Stealing a captive agent force is not an ethical thing to do and as punishment, Genworth will not allow anyone from LTCFP to submit business. At least that's my understanding.

Personally, I'm not sure how any agent today can have a portfolio of LTC products without Genworth. Genworth is only the largest LTC carrier on the planet.

Oh, comon Arthur, haven't you seen their claims of being UNBIASED???? LTCFP only represents the best carriers. Surely if Genworth was worthwhile wouldn't you think that LTCFP would represent them.....

UNBIASED: We do not, like many agencies and associations, represent just one carrier or push a pre-chosen policy. We represent several state-certified carriers, and they're all very solid and reliable, the very best in the business. We screen them and agree to represent them only if they meet our high standards. And we offer all types of policies currently available.

Anyway, I know a bunch of LTCFP agents that sell Genworth. They just sell outside of LTCFP through other brokerages to write their Genworth business. They utilize LTCFP just to get leads. And they always complain that the LTCFP leads aren't very good. I wouldn't pay someone $2,000-$4,000 for training. Not when they are already making 30% off of everything you write. Isn't an override enough? Training should be the quid pro quo for the override. Just my 2 cents.



http://www.insurance-forums.net/for...long-term-care-financial-partners-t49078.html

 

[billberry12]

Yes. I have also heard repeatedly how bad their leads are, and they are always pushing their agents to sell more of their leads. Seems to be the old classic outdated sales model that just doesn't work anymore. Made for lead addicts. IMUO!!

 

[Arthur Rudnick]

"Anyway, I know a bunch of LTCFP agents that sell Genworth. They just sell outside of LTCFP through other brokerages to write their Genworth business. They utilize LTCFP just to get leads. And they always complain that the LTCFP leads aren't very good. I wouldn't pay someone $2,000-$4,000 for training. Not when they are already making 30% off of everything you write. Isn't an override enough? Training should be the quid pro quo for the override. Just my 2 cents"

I also know a number of LTCFP agents and you're right, they write Genworth business and put it through other brokerages.

However, in a normal mix of today's business, an independent agent would be putting about 50% of their total business through Genworth based on the fact that they own about 50% of the entire LTCi market.

That being the case, 50% of a LTCFP's business will be going to outside sources, making it more difficult for the average agent to gain "Partnership Status".

I'm not certain about that $2,000-$4,000 number for training.
LTCFP (the poster) has not confirmed that. (what say there Mr. LTCFP?) I do know agents work for about 30% less commission for the ability to get free leads. Personally, I'd take that 30% and purchase my own leads and take 100% commission. Their leads are nothing special.

LTCFP (the company) solicited me when they first started. They had some heavy hitters in the begining because they opened their doors with all of the top GE Captive agents. I sat through a couple of meetings with them just to hear what they had to say. However, I never had any intention of signing on. I'm affiliated with a great General Agency and someone would really have to blow me away with an offer to get me to leave.

But................
I did walk away from those meetings thinking that the entire "Partner" concept was a truly unique & innovative idea. At the time of start-up there were no bonuses being given out. End-of-year bonuses weren't paid until the business had about 5 years under their belts.

I personally know of one agent with them (consistently one of the top 3 producers in the country for many, many years) who receives an annual bonus check in excess of $100,000.

On one hand you can say that he's giving up some comp to be a Partner, but on the other hand, he's got a huge group of agents under him where he gets a piece of their business.

So, each his/her own. Many new agents hear the words: "Free Leads" and jump without looking at all of their options. And, when they first enter the business, they're not yet even aware of their options. Many don't have the money to purchase leads on their own so on the surface, it sounds like a good idea.

Bottom line is we all need to do what works and puts food on the table.

 

[LTCFP]

At the end of 2010, all starting costs were eliminated. Training is now free.

This past year the company shifted more focus from direct mail lead generation over to internet lead generation, along with adding multiple filters and data verification points to its lead funnel. Since then, the overall lead quality has drastically improved.

the entire "Partner" concept was a truly unique & innovative idea.

I personally know of one agent with them (consistently one of the top 3 producers in the country for many, many years) who receives an annual bonus check in excess of $100,000.

These are actually dividend checks, as many of our producers earn equity in the company, meaning they become Partners.

LTC Financial Partners is home to many of the top producers in the country.

Genworth is also a quality company.