Tell me about annuity FMO seminar 'systems'

[Guest]

I look through Senior Market Advisor magazine and there a a zilion full-page ads for FMOs asking me to sign up with them and use THEIR seminar. What's the story here?

1. Can you only sign up with ONE FMO per carrier. In other words, can you sign with FMO-X for Carrier X and FMY-Y for Carrier-Y? Is there a reason to do this?

2. Does agent have to pay for the seminar materials? What do these seminar companies do for the agent? Mailings, etc? Do they charge reasonable rates for printing, mailing, etc? Are these companies making more on seminars and lists than selling annuities?

3. Are sales made through the FMO? Do they pay you? Or do you still submit to the carrier and they just get an override but you get a check from carrier?

4. Are these seminars copyrighted such that you can only use them in conjunction with the FMO?

I'm sure I'll learn a lot about this when I go to the Senior Market Advisor conference in Vegas in August... but I thought there might be someone here who might serve as a 'mentor' on FMOs, seminars, etc. and give me a 'leg up' before I go... so I'm not a 'babe in the woods.'

Thanks,

Al

 

[senior-advisor-indiana]

Usually you can go with FMO y for carrier Y and FMO x for carrier X. I personally have never done a seminar. I would probably have to drink some crown if I had to talk in front of 100 people. Although I could be missing the boat. One day I might get up the courage for a seminar.

 

[indaville]

I think each FMO is probably different on how they handle each of your questions. I get paid directly by my carriers and the FMO gets an over-ride but they give me marketing credits based upon production. With the seminars I run my FMO gave me the script and materials, I am part of a study group of producers across the nation, the FMO helps me determine who to market the seminars to, they provide the mailings and marketing materials.

I am on track to run around 60 seminars this year so let me know if you have any more questions.

Matt

 

[Mr. Bill]

Indaville - I am impressed! Part of my curiosity stems from your statement that the FMO helps you by providing the mailings and marketing materials. I thought we all got passed along to RME or whatever and paid for it ourselves! How did you get them to part with some seminar dough?

 

[indaville]

Indaville - I am impressed! Part of my curiosity stems from your statement that the FMO helps you by providing the mailings and marketing materials. I thought we all got passed along to RME or whatever and paid for it ourselves! How did you get them to part with some seminar dough?

I pay for the mailings and the materials, however sometimes they are free b/c I earn marketing credits based upon production. Their marketing department helps me to only use things that work.

Matt

 

[Guest]

I pay for the mailings and the materials, however sometimes they are free b/c I earn marketing credits based upon production. Their marketing department helps me to only use things that work.

Matt

Who is your FMO?

Al

 

[indaville]

Who is your FMO?

Al

Asset Marketing Systems

 

[Guest]

Asset Marketing Systems

I went to one of their seminars here a month or two ago and was VERY IMPRESSED with them. They called me a few times afterwards but when I told them that I wanted to check out the field they stopped calling. I've never sold an annuity before so I can't expect that they are going to be too interested in me anyway.

Al

 

[indaville]

I went to one of their seminars here a month or two ago and was VERY IMPRESSED with them. They called me a few times afterwards but when I told them that I wanted to check out the field they stopped calling. I've never sold an annuity before so I can't expect that they are going to be too interested in me anyway.

Al

You never know. The business consultant I work with has several reps that are new to selling annuities. They also can help with life and LTC producers.

Matt

 

[Sam]

Looking for the Top Annuity IMO/FMO/MGA? This is it