SF vs Brightway vs Goosehead

[MVI]

Appreciate all the input. I'm in a situation where I have the capital to sustain through slim years (military pension and wife that works). I know in the best of situations it will be tight for at least a couple of years, but I do want to realize some success and enjoyment in the industry. Outside of a chance to make a good living (assuming I can persevere), I feel insurance genuinely helps people achieve financial security… despite many viewing it as a necessary evil.

It might make sense for me to go produce for another agency for a while…maybe get some additional clarity. I'll think hard on that. Does anyone happen to know of any "good and fair" MGA/cluster/aggregators operating in Florida? Firefly looks exceptional, but they do not. I've seen a lot of pros and cons with SIAA and Smart Choice… Hesitant to pursue anything with either given some of the negatives around binding, commission payments and exit fees.

I'm with SIAA. If I had done my agency over, I would have gone with them again. It is and was a good fit. They supply a lot of value.

 

[Longtimelurker]

I also looked at SIAA and it was one of my final 2. Very impressive but I didn't like the long term contract and deferred revenue bs.

First timer, reach out to Matt Labb on the forums. The owner is also on here (bad trout I believe is his screen name). Matt's email is [email protected]

I won't discuss splits on here as that's not my place to discuss but you will have access to a ton of carriers off the bat through shared access or their brokerage access while you work on your appointments. Their trainer that gets you all set up is outstanding as well.

 

[FirstTimer]

Thank you. I did reach out to Badtrout last night. As of 2019, Horizon was not doing business in Florida but maybe that's changed. Again, appreciate all the info.

 

[Longtimelurker]

Reach out to Matt as well. I did like the concept of Siaa and it's size in the industry, but I'm about to turn 50 this coming year and just didn't want to lock in to a 15 year contract. They also have some type of training program (much less commission) that could be beneficial but I just decided to pass. Again I just liked the simplicity of horizon and only 4 pages to read before signing a contract. If I bail on this thing, I'm essentially out their $1000 sign up fee. Much better than some of those astronomical franchise fees that are out there (especially in a worse case scenario of walking after the first year or two).

 

[FirstTimer]

That makes sense and I am in a similar place. I will reach out to Matt.

 

[Longtimelurker]

The only other thing I'll tell you if you go the State Farm route, don't just reach out to those references that the sales leader gives you. They will of course be killing it. After I met with those three that were referred to me by the sales leader, I picked a few other local agents to go and meet with on my own. Much, much, much different stories that were told by them. Again it might be for you but just look long and hard at them first. I also didn't like their huge investment product push. I really think that's specialized stuff that should be saved to an actual financial advisor somewhere vs an insurance agent. Sure sometimes the two go hand in hand but after almost 30 years in a banking career I just don't think the two should mix. My humble opinion only.

 

[FirstTimer]

Fortunately, all my associates in State Farm are friends, family, and agents who are their associates; all straight shooters. State Farm is great as long as they're competing price-wise in the market. The model is rooted in outstanding service and relationship, but there comes a point where price rules at the end of the day for most people. The most tenured two agents I know have seen the good times and bad. There was mulit-year stretch where they basically were stagnant in their growth because they couldn't sell then later compete price-wise on HO. However, through it all they're all doing extremely well. Of course, you hope to avoid those stretches… especially in the first five years or so. Florida has a way of making even the most successful captive agents nervous.

 

[Matthew Labb]

I also looked at SIAA and it was one of my final 2. Very impressive but I didn't like the long term contract and deferred revenue bs.

First timer, reach out to Matt Labb on the forums. The owner is also on here (bad trout I believe is his screen name). Matt's email is [email protected]

I won't discuss splits on here as that's not my place to discuss but you will have access to a ton of carriers off the bat through shared access or their brokerage access while you work on your appointments. Their trainer that gets you all set up is outstanding as well.

hey thank for the vote of confidence! That's super nice of you.

As for our trainer whose name I won't put out on the internet right now... she's amazing and she's been with us for years.

The shared access is one key component to our offering. Can we get direct codes? Of course... but the shared access is quicker and then we move you into the direct code.

With the shared access one still has ownership of the book, and full binding authority.

As I always say in conversation with agents, binding authority is so key. That can not be overstated.

 

[insuranceforever1]

I'm with SIAA. If I had done my agency over, I would have gone with them again. It is and was a good fit. They supply a lot of value.

May I ask What are the cons and pros with Siaa and do you own your book of business?
Thank you

 

[Matthew Labb]

Reach out to Matt as well. I did like the concept of Siaa and it's size in the industry, but I'm about to turn 50 this coming year and just didn't want to lock in to a 15 year contract. They also have some type of training program (much less commission) that could be beneficial but I just decided to pass. Again I just liked the simplicity of horizon and only 4 pages to read before signing a contract. If I bail on this thing, I'm essentially out their $1000 sign up fee. Much better than some of those astronomical franchise fees that are out there (especially in a worse case scenario of walking after the first year or two).

so much this. Nobody wants to get it wrong when choosing a network.

But if you are going to get it wrong, make sure that decision doesn't bankrupt you with astronomical fees, and also make sure you aren't handcuffed into a long term contract.

With our contract, you stand to lose the $1,000, and then some of your most valuable asset - time.