Need Advice!

Jun 20, 2007

  1. AZagent
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    GOOD EVENING, I AM CURRENTLY EXPERIENCING MIXED EMOTIONS ABOUT MY WELL-BEING WITH MY CURRENT OFFICE & IF ANYONE CAN HELP ME WITH SOME SOUND WISDOM I WOULD GREATLY APPRECIATE IT.

    I started in the Insurance business a little over 2 years ago not sure if this was the route to go with a young family to provide for (3 children & a pregnant wife). My first two months in the business I grossed 840.00 and this is with my Field Trainers! I was on the verge of splitting until my Branch Manager turned over a commission of 1119.00 to me for an annuity that he wrote over the weekend.
    This obviously meant a lot to me and it really fired me up to not let him down (even though his Trainers already failed me). I finally built up the courage to try venturing off on my own after non-stop product studying. My first week in the field by myself I wrote 1 senior life, 2 short term cares, 1 home health & a 276,000 fixed annuity!
    My fourth month into the business I was ranked 3rd in our office of 18 agents and topped the office in issued business the following month.
    Even though I grossed less than 44k my first year, I saw the possibilities in the Insurance industry and gave Loyalty to my Superiors. Even after my hiring Manager was relieved of his position as Branch Manager I hung in there as long as I could.
    On my 1 year anniversary, I was promoted to Field Trainer (even though I was not personally ready) from our new Branch Manager. I successfully trained 2 agents by placing 13 apps in each of there names in two months.
    Our new manager ran our office as a dictatorship and I new that I could not stay around to much longer so I started looking into other Companies.
    I caught word from my original Trainer (now Manager)that OUR hiring Manager was starting from scratch opening a new office with very competitive Senior products & new MA plans. So of course I took an early exit & literally helped get the new office off the ground. I cleaned, painted, helped pick out furniture and brought along 4 other agents.
    Once everything was ready and functioning, I was out in the field writing business again with a Burning Passion!
    Since the opening of this office I have continuously been the #1 writing agent in app count & commision and Once again I was promoted to Field Trainer. I currently have 5 agents under me and our Team brings in 3/4 of all business.

    So know that you all have a bit of background HERE IS THE PROBLEM.

    1) Commission: I am appointed with United Health Care to
    write their Evercare MP & DP plans along with there
    Secure Horizons Plan. The commission that I recieve in
    my position is $235. I am also able to write Unicares
    MSA. The commission that I recieve is $200. On all of
    our LTC, Indemnity, UL, Senior Life & Annuities the
    commisions are sub-standard for my position.

    2) Management Fees: Since my so-called promotion I have
    been expected to pay back into the office along with the
    other 2 trainers an office expense of $250 per week! I
    never heard of such a thing but figured hey at least I
    can write it off at the end of the year. These fees go to
    supposedly pay for our administrator, recruiter, rent, etc.
    We even had young telemarketers in our office to set
    appointments for the Trainers @ $20 per appointment
    which is not bad at all...but these telemarketers are
    paid hourly at $16 and are supposed to set 30+
    appointments per week (1 telemarketer)! For 3 weeks
    straight my sales dropped due to the ratio of stand-ups!
    I had 8 stand-ups in one week but was required to pay
    for these appointments!! So for example I paid over
    $2500 dollars for appointments & office fees for the
    month of April! There goes my over rides!

    This is getting way to long so I'm gonna finish it like this...
    I have no incentive to work in this office! No Health, 401k, profit sharing, NOTHING! I have been paying for my own telemarketer for the past month...and guess what my production is back up! I'm in the field Monday afternoon to Friday evening and sometimes the Weekend. Working from 8-8 most days. My manager (my trainer from the first company) has made over 40k this first quarter with out stepping foot out of the office! But yet I am training new agents, burning up my gas, basically being their work horse to take care of their families! I just recently learned what other agents have been making on these MA plans and it really got me to thinking. Why am I only getting 200-235? Why am I only getting 52% on my Life Cases? Wow!!

    I REALLY FEEL USED BECAUSE OF MY LOYALTY & FAILURE TO EDUCATE MYSELF IN OTHER AREAS BESIDES OUR PRODUCTS! THE ONLY TIME I TALK TO MY MANAGERS IS TO LET THEM KNOW MY TEAMS PRODUCTION FOR THE DAY (THROUGH TEXT MESSAGE CAUSE HE DOESNT ANSWER HIS PHONE) AND DURING OUR MONDAY MORNING MEETINGS WHERE I GET TO PAY BACK INTO THE OFFICE!! :mad:

    SORRY SO LONG BUT PLEASE SHARE SOME WISDOM WITH ME.
     
    AZagent, Jun 20, 2007
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  2. AZagent
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    sorry, But I Had To Add That My Managers Are Currently Taking Nice Vacations, Purchasing Rv's, Four Wheelers, And New Vehicles While I Can't Even Dare Ask For My Birthday Off! Seriously!! I Asked To Take My Birthday Off Cause Family Was Flying Into Town To Visit And My Immidiate Manager Threw A Hissy Fit!! I Get Paid Only If I Produce, I Recieve Nothing From This Office Besides Another Bill!

    okay I'm Done Now...i Think.
     
    AZagent, Jun 20, 2007
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  3. policy doctor
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    Who needs Who?

    Sometimes you have to figure out things the hard way. You're being abused and just now realizing this. Find the thread on insurance publications....many ads for agents there.

    You have a great track record...and seem to like the agency system. Explore co's like MetLife, NYL, Mass Mutual. Might be a great fit for you. They also start you with a small base salary.

    Time for you to move on.
     
  4. Sam
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    You should really have a nice phone conversation with some of the successful independent senior agents and discuss this through. It sounds to me like you have some reservations about going off on your own that can easily be remedied if you talk them through.

    If someone can and has produced on their own, then there is no reason why someone else should get rich off your hard work, while you still struggle, especially if it wasn't them who taught you anything.

    I am pretty sure that to anyone outside of your situation who reads this will know that you need to leave pretty soon.
     
    Sam, Jun 20, 2007
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  5. senior-advisor-indiana
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    senior-advisor-indiana Guru

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    Gosh AZAGENT, you just gave a description of every career agency in the senior market. The uplines get rich while making the agents work thier Azzes off. Thats pretty crappy that you only get 50% for life when you are a field trainer. I get 90% and I am at agent level, I believe in the same company. I will be leavng there very soon also. The MA commission is quite a joke. They told me it was $300 when I signed the contract, then when I got my writing number they lowered it to $200.
    You should be able to take off whenever you want. You are a 1099 employee. You don't have to attend any meetings if you dont want to. I believe independent is the way to be. Atleast for me anyway. I have 2 young kids and a wife. My wife doesn't work so I have to keep busy. So I need all the commission I can get. My rsm bitches if he cant take his kids to disney world while I am just trying to keep my car payments up. Very aggrivating. Anyway, you are definetly putting up with way more than you have to. Especially if you can market on your own. By the way, those annuities you sell through them, you could make almost double the commission and sell better annuities. Thats harder to chew than the $100 loss on the MA plans.
     
  6. senior-advisor-indiana
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    senior-advisor-indiana Guru

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    HOw can they make you pay the management fees? Your RSM gets an office expense that should pay for that. As long as your office is producing atleast 50k in annualized premium a month.
     
  7. AZagent
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    Guess What?

    this Morning I Was Promoted Up A Level...effective July 1st. I Was Also Given The Opportunity To Step Down From Field Training And Just Becoming A Producing Agent If I Wanted To. I'm Kinda Thinking That He Got Word From This Forum. I Was Also Given The Opportunity To Start A Sattelite Office For G.a.s.b.!!! Now That Seems Kinda Weird For All This To Go Down Right After My Forum Post. My Immediate Manager Wasn't Quite Happy With The News And It Showed All Through Out Our Meeting.

    now What? I'm Kinda Happy And I'm Also Confused. I Know That Stepping Off And Going Independent Takes Some Indepth Knowledge Which I'm Sure I Could Use A Little More Time & I Know That I Would Need A Release From Him To Continue Writing The Ma Plans. If No Release Then I Would Have To Wait 6 Months (so I Heard).

    so Basically The Reigns Have Been Loosened And The Commissions Raised (a Tad Bit). It Kind Of Gives Me Time To Really, Really Build Up My Knowledge For My Move, But Also Continue To Produce To Help Their Pockets. Why Compete When They Can Just Take A Tiny Pay Cut.

    i Was Told Not To Mention This To The Other Trainers. Hmmmmmm....

    i Want To Be Able To Tote The Best, Competitive Products Available. Broaden My Horizons And Now I'm Second Guessing!

    i Know The Lord Works In Mysterious Ways...but This Seems A Little To Strange For This To Happen With Out My Asking Or Any Departing Notice.
     
    AZagent, Jun 26, 2007
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  8. Mr. Bill
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    It is highly unlikely your post on this forum was read by someone in your hierarchy. You sound like you have little experience with people who tell you to your face they're here to help, and then stab you in the back. Develop an alligator skin and get the hell out of there. What could they possibly be providing you that is worth $1,000 per month PLUS a piece of every commission. Just think, if you had direct appointed or at least had a great independent appointment with an FMO, how much would you have made on that FA alone?

    There are way too many great people on this board to kindly offer help to you. You have a phone at home. Use it. Forget about July 1 and the changes at your office. You should instead be considering it your personal day of liberation.

    Good luck!
     
    Mr. Bill, Jun 26, 2007
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  9. senior-advisor-indiana
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    MY advice is to use them. :D You payed enough in and got screwed enough that yu should return the favor. :D The longer you stay with them the more you will have to lose when you decide to leave. Unless you are completely vested which then they could still probably take your renewals if they wanted. You are on your own anyway, why not reap the benefits of being on your own. ITs funny you said "broaden your horizons" because I think that is thier slogan...lol I doubt your manager caught wind of this or I would probably be fired by now.
     
  10. arnguy
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    arnguy Guru

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    AZagent, could you please reduce the font size----my eyeballs are popping!:laugh:
     
    arnguy, Jun 26, 2007
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