Discussion in 'Senior Insurance Forum' started by LVGUY, Mar 26, 2015.
Medman, are you speaking from experience or just from what you've heard second hand?
Re: Team Alvarez Insurance Services--AGENT BEWARE
Any agent worth their salt should do their proper investigation no matter who they are looking to partner up with, Team Alvarez and Gaston 'Gus' Alvarez is no exception.
Based on public records available through the great state of California, one can begin to question the integrity, reputation and ethics of Gaston Alvarez. A review of public filings on the California department of insurance website will lead one to uncover that, in 2001, Gaston 'Gus' Alvarez plead guilty to a then felony charge of insurance fraud. That resulted in California revoking his health license. Gus was an unlicensed health agent for a period of about 8 years as a result. He filed for a new license in 2009 and was originally denied and then appealed the decision. California gave him a provisional (probationary) license until 2015, at which he was fully reinstated.
Research 1: California Department of Insurance at www insurance dot ca dot gov
In a prior matter, Gaston 'Gus' Alvarez was also party of a lawsuit for FRAUD in a gym, which resulted in a fine of close to $800,000.
Research 2: franchiseconsultingfirm dot com / WorldGymUFOC.pdf
These findings alone should make any life and health agent nervous about doing business with him or his company.
Team Alvarez is a local agency in CA but is not as big as he makes them out to be. Team Alvarez does not presently hold any national NMO/FMO appointments. At best, he has a MGA contract with a national carrier.
All agents should read any contract in its entierty prior to signing with any carrier or broker. Team Alvarez's contract is a farce. Their contract is a 'frankenstein' contract that was pieced together from other contracts and by someone with no legal background. In the contract, the agent is assigning ALL rights to their book of business, commission and renewals which the contract clearly states remains with Team Alvarez once the agent leaves. It also prevents the agent from moving their clients to other products without the express written consent of Team Alvarez. The agent is also contractually obligated to provide Team Alvarez with full details of their clients and authorize Team Alvarez full authority to work directly with the clients.
One of the more glaring issues is the signature page which you, the agent, expressly authorize Team Alvarez (Gaston 'Gus' Alvarez) to copy and paste your signature on any contracts with or without your knowing and other documents they 'deem' necessary. In addition, the agent also '...agrees to indemnify and hold any third party harmless from and against any and all claims, demands, losses, damages, and causes of action, including expenses, costs and reasonable attorney's fees which such third party may incur as a result of its reliance on any form or agreement bearing my signature pursuant to this authorization.' In other words, the agent could stand to have all of their contracts moved under Team Alvarez without the agent knowing and the agent has no legal recourse. Their contracts are shady at best.
They know how to lull agents by telling them what they want to hear: quick pay, leads, pre-set appointments, etc. Oh, and they will bill you for the leads and pre-sets.
And of course all of your commissions and renewals are assigned to them. They also retain the right to withhold your commissions and renewals up to 12-months after you leave (if for no cause) for 'chargebacks' and you are blocked from your book of business.
Insurance agents get in this business for the renewals. With Team Alavarez, the agent stands to lose it all or remain committed to them for life or until they go out of business.
There are many more shady clauses in their contract. The agent needs to read it line-by-line and have an attorney review it. Most seasoned agents would back away from such a contract.
Do your research!
Do not become complacent in your research and wooed by the smoke and mirrors!
AGENT BE CAUTIOUS!
Team Alvarez is not a National FMO as they present themselves to be. Any agent worth their salt will do their due diligence before teaming up with any entity---DO YOURS ON THIS ONE FOR SURE!
Gaston 'Gus' Alvarez recent past raises a lot of red flags and concern for starters. His resident license is in California and the California Department of Insurance website would be a good starting point for research; make sure to review the supplements. Once you've done that, a google search will present you with several other items to review and consider.
As aforementioned, any agent worth their salt will do proper research AND will also ask for Team Alvarez's FULL CONTRACT before filling it out and signing. DON'T BE MISLED by just a few pages, their contract is very lengthy and very one-sided--and not for the agents best interest. You'd be well advised to have an attorney read it; the contract is NOT a typical carrier contract. If after the review, you feel good with the conditions, happy trails! Most seasoned agents will not move forward after reviewing all of the contract and red flags.
RESEARCH, RESEARCH, RESEARCH!
READ, READ, READ!
It's your book of business and your compensation so take the necessary precautions to guard your own interest.
They are recruiting in Texas. After telling them several time that I'm not interested and asked to be removed from their list, I still get calls. They even want to argue with me as to why I don't want to hear their sales pitch.
They are pushing the Prominence MA plans. Last time they called, the guy wanted to know why I didn't want to know how great the Prominence plans were in Amarillo. I'm not even close to Amarillo.
Looks like you have to go with Team Alvarez if you want to sell Prominence MA.
Good thing I have no need for either of them.
Whenever I hear that someone has a "team", that tells me they are inefficient to handle things themselves. Therefore, they need a "team".
Separate names with a comma.