TWFG-The Woodlands Financial Group?

[MikeM.]

Anyone have experience with these guys? I have done as much research as I can trying to get into the P&C market and it seems like it's coming down to these guys. I just don't know if I can get a contract without any book of business and starting from scratch. How much capital should I have starting out for the first year?

Any info would be greatly appreciated.

 

[RedR8R]

Mike,
I currently am working with TWFG and am glad I made the move. I came from Farmers and am young in the insurance game so getting appointments with top national carriers would be next to impossible with the Farmers non-compete clause. TWFG allowed me to open my office as an independent (under the branch contact, which is the only way to go) and helped me get those appointments. They leave you lone..figure if you're not making any money you won't last. As far as capital they don't require a set amount other than the inital buy in to start your branch. I started mine with less than 10K..all they ask is you have a physical office. This is much better than being captive.

 

[MikeM.]

RedR8R,

Thank you for your input. Where they able to appoint you to all the insurance carriers you wanted for your P&C? How long did it take to have them appointed? I don't want to invest in that much money only to find out later, I am limited on which insurance companies they can appoint me because I am starting out new and from the ground up.

 

[MikeM.]

I'm going to assume that not too many people in this forum have dealt with TWFG...........

 

[buttercup79]

Just be VERY careful and make sure you know HOW many other TWFG offices are in your area. In TX, with Farmers and Allstate, and now State Farm pulling so many contracts it has flooded the market for "independents" and many people are just closing their doors. Going from captive to indt is not as easy as it sounds. Know your competition before you decide to open. Yes they have a great way to get to all the markets, but again, know your area. Hope that helps.

 

[headcoach]

I deal with them and like them. Good group of people

 

[jru37726]

I was in the process of starting a TWFG franchise but then Farmers came calling. Does anyone know if TWFG pays you anything when u first get started? I know there is a $5000 "franchise fee" but when u start is there no subsidy? Here in Maryland Farmers pays you a certain amount for the first yr on top of the commission. Just curious

 

[BIG RED IS BACK]

I was in the process of starting a TWFG franchise but then Farmers came calling. Does anyone know if TWFG pays you anything when u first get started? I know there is a $5000 "franchise fee" but when u start is there no subsidy? Here in Maryland Farmers pays you a certain amount for the first yr on top of the commission. Just curious

IA's will not pay you anything.

Captives will.

 

[jru37726]

Thanks that's what I thought!

 

[MikeM.]

Thanks that's what I thought!

So what's your thought process so far? For me, it's not even an option with Farmers. Just too many of them in my area, over-saturated and last time I checked, their rates weren't competitive at all.