Members - I just got my P&C and L&H producer license and want to take a dip in starting up my own IA, so looking for guidance from my fellow friends on how to get my agency up and running. I approached a lawyer and he gave me a quote of $25,000 to setup LLC and register business license in all 50 states. I believe it is bit inflated price and should be straightforward if I do it myself.
I would appreciate if there is a guide that walks me through step by step on setting up own independent agency firm and also is there a association/member broker with whom I can register my firm and i will get immediate access to all carriers under their umbrella, and start writing some business and get commission shared with them. Since I am new to this business so I doubt if there are any carriers who would allow me to work with them directly, best to work under big broker/association and build some credibility and business.
I am based in NJ. Thanks again for your advice
I would appreciate if there is a guide that walks me through step by step on setting up own independent agency firm and also is there a association/member broker with whom I can register my firm and i will get immediate access to all carriers under their umbrella, and start writing some business and get commission shared with them. Since I am new to this business so I doubt if there are any carriers who would allow me to work with them directly, best to work under big broker/association and build some credibility and business.
I am based in NJ. Thanks again for your advice