Please help Me Get Contracted with Carriers

[kingkhon559]

I'm currently with FFS FIRST FINANCIAL SECURITIES. I'm only appointed with National Life.

I wanted to get a independant contracts with ANICO but Mike over at sales for ANICO tells me the VP won't let me. I have to go through FFS. I told them I'm no longer with the agency.

This is a form of bullying. Why can't I get a contract? I leave the agency but if I'm not contract with ANICO, I'm screwed. NATIONAL LIFE don't do independent contracts. What are the necessary steps to take if the VP of ANICO says I have to go through my agency. Don't they know the reason I left behind agency is to get a better deal??

Help. I'm in Cali.

 

[DHK]

You're with FIRST FINANCIAL SECURITIES??? You have SECURITIES licenses? And you want a contract OUTSIDE of your B/D?

Do you not see the conflict you already have?

 

[kingkhon559]

You're with FIRST FINANCIAL SECURITIES??? You have SECURITIES licenses? And you want a contract OUTSIDE of your B/D?

Do you not see the conflict you already have?

No security license. Just life only. I don't like the MLM business. Why is ANICO giving a rats ass where I want to do business. Seems like a communist business model. I can't leave the agency and get independent contracts??

 

[DHK]

Well, at least you don't have a securities license and B/D to deal with.

ANICO, like most other insurance companies, may be looking to limit who they directly contract with due to the DOL regulations.

Therefore, you need to find an IMO to contract through. The good news is that you'll probably get a higher contract going through an IMO than contracting direct with ANICO. I've seen both and the payout on annuities is higher through an IMO than direct. Life insurance was about the same.

If you're looking for an IMO (I am not one), I'd look at:

BackNine - they'd be closer to you geographically, if that would be important to you.

Partners Advantage - also in California.

Postema Marketing Group - Home - a decent IMO with additional training resources available.

All 3 offer American National.

 

[Todd King]

No security license. Just life only. I don't like the MLM business. Why is ANICO giving a rats ass where I want to do business. Seems like a communist business model. I can't leave the agency and get independent contracts??

You should be able to. I have a feeling that they were telling you no because you wanted to go direct with them and they won't allow that. (not sure if they will or not, just a guess).

 

[kingkhon559]

Man I appreciate your guys feedback. DHK, I'll check them out. What's IMO? All these acronyms like FMO, like what type of industry are there? Captive, independant is all I know. FFS is what I call a MLM but they are a agency that contract with multiple carriers. They start you off 30%. They didn't focus on product muxh, more recruiting than anything. Oh and they promise equity share if you net $100k. They say if I write $100k in policy I will have a % in equity if the agency sells in the market (exit strategy). I mean, these guys literally fake the funk. Did a lot of bait and switch and didn't sit well with me. Instead of putting them on blast and calling them out on their business practice, I just simply trying take advantage of my situation by getting as much training from it.

Here's where I'm at now. Today, I just got an email from Mike (Anico contract) say I need a letter or some Form from FFS that I'm no longer contracted with them. The scary part for me is now, I'm not appointed with anyone. I just bought my E&O too!!! Are there any company that pays 80%+ overides, stock shares, vacations, that's not a MLM model. And a company that pays for your E&O. Also leads? Seminar training?

DHK I'll check those out.. and I check out those links u posted for sales training. For new agents from proshop. Haven't read through all yet but will finish reading up on it. Man I feel like I've been dupe from MLM agency.

 

[DHK]

Some people feel duped from captive career agencies too. I think it's one of those hurdles everyone ends up going through on their career path.

 

[dorado]

Man I appreciate your guys feedback. DHK, I'll check them out. What's IMO? All these acronyms like FMO, like what type of industry are there? Captive, independant is all I know. FFS is what I call a MLM but they are a agency that contract with multiple carriers. They start you off 30%. They didn't focus on product muxh, more recruiting than anything. Oh and they promise equity share if you net $100k. They say if I write $100k in policy I will have a % in equity if the agency sells in the market (exit strategy). I mean, these guys literally fake the funk. Did a lot of bait and switch and didn't sit well with me. Instead of putting them on blast and calling them out on their business practice, I just simply trying take advantage of my situation by getting as much training from it.

Here's where I'm at now. Today, I just got an email from Mike (Anico contract) say I need a letter or some Form from FFS that I'm no longer contracted with them. The scary part for me is now, I'm not appointed with anyone. I just bought my E&O too!!! Are there any company that pays 80%+ overides, stock shares, vacations, that's not a MLM model. And a company that pays for your E&O. Also leads? Seminar training?

DHK I'll check those out.. and I check out those links u posted for sales training. For new agents from proshop. Haven't read through all yet but will finish reading up on it. Man I feel like I've been dupe from MLM agency.

A company that pays for your E&O, pays for vacation and pays for leads......I don't think so for Life Insurance...maybe as a captive Health insurance agent (UhC or Humana) and definitely as an employee P&C producer.

Regarding the release, and all this nonsense... I learned that it is extremely important to work with honest IMO/FMOs. As a veteran insurance guy said..."There is always cheese at the mouse trap."

If you are not working for an agency as W-2, you are self employed. Good luck!