The Producer Academy/Renaissance Annuity Group

Apr 1, 2008

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  1. eddie
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    eddie Guru

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    Has anyone heard of this organization? I am relatively new in the Annuity business and they contacted me to fly down to a seminar they are holding all expenses paid as long as I sign up with one of their carriers? Has anyone else got this solicitation and if so, any word on this company.
     
    eddie, Apr 1, 2008
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  2. Mr. Bill
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    Mr. Bill Guru

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    I can only tell you that I have been solicited by them and have spoken with them, and from what I recall, no red flags went up.

    That said, you have to decide whether or not you 1) want to work with an FMO that has a "system" or 2) you don't need their system. If they're offering a system, find out what it will take to implement it.

    I'm getting all kinds of mailers for two different 'Tax Advisors' FMOs, both offering similar "systems" - use the tax return to sell seniors annuities. Having spoken with both of them, they tell me use mailers to invite seniors to "free meal" seminars. I bet a lot of people who do this are in fact successful. However, if it costs you $100,000 (mailing and meals) to do $200,000 in business, that isn't a great ROR. Now, if the FMO was paying for the mailers and meals, that would work for me!
     
  3. eddie
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    eddie Guru

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    Thanks for the info. I was going to check out this outfit. Hope it is not like the above Gameplan post.
     
    eddie, Apr 11, 2008
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  4. Lifer
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    Lifer New Member

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    Humm... Spend $100k for $200k income where do I sign up? :)

    My opinion on training is get all you can. Even if you have to sit through an informercial (or two). One idea can be priceless.
     
    Lifer, Sep 10, 2008
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  5. Annuity guy
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    Annuity guy New Member

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    Um...I may be a little late on this, but spending $100k to make $200k is an issue for you Mr. Bill???

    Let's see...so if I do the math correctly, I can spend $1mm to make $2mm!!! That sounds pretty good to me!

    If you aren't doing seminars...you are dead in the water. It's the only way to go.
     
  6. Charpress
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    Charpress Guru

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    I think Mr. Bill and I are probably on the same page as to what it takes in seminar investment and what you have to net to make a reasonable return.

    A typical mailing and cost of restaurant will be $5,000-$6,500 depending on where you are and how big a mailing you need to get your expected response. This will be for 2 restaurant seminar meetings, a day or two apart, with the hope to have 30 people at each meeting. The mailing expense is about four times the restaurant cost.

    You really need at least $300,000 in premium sales as a consistent average for this to be worthwhile. So, if you didn't clear at least $20,000 after all expenses, then the seminar was a failure. Sometimes you can make zero, Sometimes you can make $100,000. Point is, you have to keep at it and you have to adapt to current conditions.

    That is one reason I don't personally like the canned approach that the big seminar-pushing FMOs use. Been there done that. The folks at the other end of the mailing start to see the same crap in their mailboxes month after month. And, the folks who go to the seminars hear the same crap month after month.
     
  7. BradJohnson
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    BradJohnson New Member

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    Charpress, I'm new to this forum but have been reading the posts for a while now. You sound like you've been at this a while, in a typical year, what type of numbers are you putting up? What types of marketing are you currently doing to get in front of new prospects? I'd love to hear what's been successful for you...
     
  8. Charpress
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    Well, thanks, but my numbers are not great because I do this as a "second profession."

    In 2007 I did enough to be a Platinum Producer with Allianz and the equivalent with another company. In 2008 my numbers were probably half what they were in 2007. That is probably mostly because I did not do seminars consistently and devoted more time to non-insurance work. For 2009 I will be doing more seminars, but also trying different marketing techniques since seminars are really shop-worn.
     
  9. Erazz
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    Erazz New Member

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    Charpress, do you feel the tax seminar is overworked as much as the other type seminars are?
    Was your seminar built on annuity, 3 bucket, medicaid and tax savings?
    Have you looked at Bagwells seminar?
    Thanks for the input.
     
    Erazz, Feb 11, 2009
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  10. BradJohnson
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    BradJohnson New Member

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    Charpress, thanks for the response. Just so I'm up front with everyone on here, I currently work for Advisors Excel. Not looking to hop on here to recruit, troll, etc, more as a tool to keep a pulse on what's going on in the field. However, if any of you are curios about what is working for our reps, feel free to ask.

    While I'm at it, I'll share a tool that a few of my reps are using, SendOutCards. Been using it for a while now myself and for those of you who aren't familiar with it, essentially you upload your client database, pick the package you want to start with, and sending greeting cards (birthdays, anniversaries, and just about anything else) to your clients is as easy as shooting an email to a buddy. Cards are high quality and there are thousands to pick from.

    Yes, it is also somewhat of a pyramid scheme, due to the fact you need to be referred by an existing member (who makes a percent of your membership fees), but I actually joined due to how it allows you to keep in touch with clients, friends, family with such ease before I even knew how it worked. Let me know if you have questions and I can get you headed in the right direction.

    Best of luck to those of you out there selling!

    Brad
     
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