NEED ADVICE... FIRST POST!

[joshril]

I am new to the forums. I have had my life/health insurance license for about 5 years. I spent a couple of years working for a captive agency selling crap health insurance until I learned the business and realized I was a moron for thinking it was a decent product. I then moved into banking and obtained my securities licenses (series 6,63) and I am seriously considering going back into insurance sales as an independent agent. I have been a top producer for the captive agency I worked for as well as the bank I have been working with, so I definately have the drive to make it in "the field".. Any suggestions would be appreciated. First off, is "going independent" the best way to go? I have some ideas of some of the companies I'd like to represent, but any feedback would be much appreciated! Also, would like to continue to sell some securities products.. How does that work with the broker/dealer thing??

Thanks!!!

 

[NHB_MMA]

I am new to the forums. I have had my life/health insurance license for about 5 years. I spent a couple of years working for a captive agency selling crap health insurance until I learned the business and realized I was a moron for thinking it was a decent product.

Dude, you've got to tell us who you were with for the "crap health insurance"! Does it start with an "M"? Were there association dues? :lol:

 

[joshril]

The crap insurance company is....

UA.. through a marketing company with association dues.. I was young and stupid... LOL..

 

[James]

Can you not go out and get your 65 and then become an independent RIA or IA?

 

[Guest]

Re: The crap insurance company is....

UA.. through a marketing company with association dues.. I was young and stupid... LOL..

Look, I would say about 90% of us started either with a UA,MEGA,NAA or similar outfit. I, for one, don't feel stupid for doing it because I know what both sides are like now. Stupid would have stayed.

 

[Sam]

As hard as it is to go independent selling insurance, it is that much harder if you are also focused on selling securities. However, if you really want to go that route, I suggest that you look into a cfp designation.

If you want to focus on insurance at first, until you are off the ground, give us some more details about what types you would like to sell, and we will give you more specific advice.

 

[James]

As hard as it is to go independent selling insurance, it is that much harder if you are also focused on selling securities. However, if you really want to go that route, I suggest that you look into a cfp designation.

If you want to focus on insurance at first, until you are off the ground, give us some more details about what types you would like to sell, and we will give you more specific advice.

I would think that is a bit much if one want to sell securities, just go out and get your 7 license. Or if one wants to give advice take the 65 test and be a IA. Why would one want the CFP destination? It would seem to me that the IA or RIA is much easier and more friendly to the independent advisor, and also lets one to stay away from the NASD/SEC Regulaions. This could be really beneficial if one wants to sell or consult on Insurance also.

 

[Sam]

If you are giving investment advice, selling securities, and taking care of the insurance, the cfp gives you a lot of credibility.

 

[Crabcake Johnny]

Your only thought with going independent should be marketing and how you plan on getting a steady stream of clients.

 

[joshril]

Selling Securities

I will be actively pursuing health sales with life as a cross sold product. I have a pretty decent book that I have stayed in contact with for the most part and live in the town I went to high school in, (around 200k people) so I have a decent natural market. Not too concerned with finding a stream of prospects... just trying to get as organized as possible to get off the ground running..

As far as securites sales, let me be more specific. I am only interested in being able to do some variable products (i.e. VUL, VA's, etc). However, if someone wants a mutual fund, I would like to be able to provide that service. My question is how do I do that as an independent if I have to be with a broker/dealer???

Also, any advice on good company's to get appointments with would be appreciated. I have several in mind, but once again, any feedback would be appreciated.