OneAmerica Transfer

[Larry Tew]

Im not sure why I put 1035 in my post earlier, I did not do an 1035 exchange seeing as how these are qualified funds.. Just was curious if there was additional paperwork on their end that they required.

They could have their own paperwork for an IRA transfer. Some do, some don't. They pretty much ALL have their own paperwork for 1035's.

 

[Norwayguy]

The answer is NO. You are thinking of companies releasing not IMOs.

More and more companies will not release the agent no matter how log he has not produced if if failed to cancel his contract.

The steps to those companies it to CANCEL the contract. Then wait six months. Then re contract.

But the better way is to only work with IMOs that release to start with.

Or deal with an IMO that Newters you.

 

[Newby]

Or deal with an IMO that Newters you.

Yes but getting Newtered alone doesn't allow re contracting. Still have to have that signed release or wait six months.

Had an agent come on board yesterday that had been Newtered from his IMO. We can't contract him with that company for six months because the old IMO won't release even though they don't want him.

Agents need to have the release conversation going in.