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can anyone tell me what the name of the FMO that was set up by the president of game plan and the #1 agent??
Major Change Happening in Industry???
- Thread starter wicked22
- Start date
The Allianz "Preferred" program is exclusive to about 20 FMO's in the country. T
he first product launch will be in August, and it will be a very stron income product with higher caps and pay out options to the client.
Overrides are protected due to the immense abuse of FMO's paying overrides to agents that do not produce enough to merit the override. In other words, if you are in fact a top producer in the index annuity world, or are part of a top producer group that does more than $10 - $15mil in indexed annutyies, you can qualify for higher comp but others cannot.
If you wish to obtain more information or how you can become affiliated with one of the few FMO's that will have the product available, feel free to reply back directly with contact information.
he first product launch will be in August, and it will be a very stron income product with higher caps and pay out options to the client.
Overrides are protected due to the immense abuse of FMO's paying overrides to agents that do not produce enough to merit the override. In other words, if you are in fact a top producer in the index annuity world, or are part of a top producer group that does more than $10 - $15mil in indexed annutyies, you can qualify for higher comp but others cannot.
If you wish to obtain more information or how you can become affiliated with one of the few FMO's that will have the product available, feel free to reply back directly with contact information.
The Allianz Preferred FMO was set up as a way or Allianz to control distribution, not to make independant agents captive.
Allianz wants to be the main core carrier with their Preferred FMO's, and also wants them to have internal operations in place to control compliance and suitability. What they are doing is for the betterment of the industry, and the agents they do business with. They will only have about 25 FMO's as preferred for now, but that number could grow in 2012.
The new product, which will not be released until sometime in August, will have some great income features:
A guaranteed roll up; higher caps for greater growth; and higher income payout % that will great benefit their clients.
Feel free to contact me directly for more information.
Allianz wants to be the main core carrier with their Preferred FMO's, and also wants them to have internal operations in place to control compliance and suitability. What they are doing is for the betterment of the industry, and the agents they do business with. They will only have about 25 FMO's as preferred for now, but that number could grow in 2012.
The new product, which will not be released until sometime in August, will have some great income features:
A guaranteed roll up; higher caps for greater growth; and higher income payout % that will great benefit their clients.
Feel free to contact me directly for more information.
- 8,707
You make me smile...You HAVE to be a marketer, no problem with being one. But lets face it there is only so much growth that can be paid out and keep the company solvent and within reserve requirements. So if you give the client more some other piece of the pie must be reduced namely agent comp.
- 924
Got a letter today from my FMO that they decided to opt out of the Allianz Preferred program.
They opted out because Allianz was requiring that they no longer do business with other exclusive distribution groups (Annexus and others). To my FMO, independent means independent, not dancing to any particular tune.
This will be interesting since my FMO has been one of the top three producers for Allianz for the last two years.
All the FMOs should tell them to go to hell like mine did.
They opted out because Allianz was requiring that they no longer do business with other exclusive distribution groups (Annexus and others). To my FMO, independent means independent, not dancing to any particular tune.
This will be interesting since my FMO has been one of the top three producers for Allianz for the last two years.
All the FMOs should tell them to go to hell like mine did.
Fact: EVERY Annexus IMO that was offered the Allianz preferred FMO deal opted out, and there were 2 that were way up the ladder with Allianz in terms of production #s.
- 924
The FMO I am talking about did $500 million with Allianz last year.
I think some new thinking on the part of Allianz is going to come about. I don't see how they can justify the numbers. Seems to me they were gambling on what would happen and the bluff has been called.
The FMOs that opt out can still do Allianz products, but not the preferred line. Does anyone really think it will be business as usual? Once you have a bad taste in your mouth, whether deliberately or not you are going to steer to other companies. Gary Bhojwani isn't stupid (or I didn't think so) -there will be more to come on this I'm sure.
I think some new thinking on the part of Allianz is going to come about. I don't see how they can justify the numbers. Seems to me they were gambling on what would happen and the bluff has been called.
The FMOs that opt out can still do Allianz products, but not the preferred line. Does anyone really think it will be business as usual? Once you have a bad taste in your mouth, whether deliberately or not you are going to steer to other companies. Gary Bhojwani isn't stupid (or I didn't think so) -there will be more to come on this I'm sure.
- Thread starter
- #39
I think all they are going to do is shoot themselves in the foot. According to the "ex" boss now, the plan is to lower caps on products like the Endurance Plus to fund the preferred products. Know what that means - I'm not writing any more Allianz - my clients would be better off going with Annexus with the 60% part rate.
And yes, I said ex.
And yes, I said ex.
- 1,271
Feed the krauts to the schweins. Many better choices out there IMO.
