Who here works or has worked with JD Mellberg in the last year?

[CALTCAgent]

Another Red flag is paying for your training. Let me choose my own hotel room and food. I could save a few bucks. I can't see why you need to be face to face to get training these days as well. Use technology, webinars, etc. to learn how to work their leads their way or whatever it is they train on.

Most companies that provide leads require all the contracts and it creates a dilemma for experienced agents. Give up what you have done already to join.

Maybe they give full street level on outside business ?

 

[Dan C]

I went to the training last year and was quite disgusted with their offer. The offer to receive their leads requires an agent to relegate oneself to an LOA status on all lines of life and health business irrespective of its linkage to Melberg. A power of attorney is also demanded giving Melberg the right to change,alter, or cancel any appointment you may have irrespective to its linkage to any received Melberg lead and 6000 to 8000 dollars a year is required to buy the leads as well as buying their E and O. What this means for someone who holds a substantial Medicare BOB, like me, is that I would be required to have all of my commissions sent to Melberg and they would decide if they were entitled to any and send them to me or if they believed I was spending too much time with this endeavor they could cancel them.
The support staff was a group of "sleazy" reps for Melberg that claimed they sold tens of millions of annuity and indexed life. There is no way of verifying this as Melberg made all of his staff use his writing number when their alleged production took place. In conclusion, I was the only one that did not accept the offer which made me feel sorry for the desperate people in this field that would accept such a one sided contract.

Im curious about the $6000-$8000??? I was also told there is no lead cost just a split???

 

[jasperjohns]

UPDATE: I spoke to my friend a couple days ago to check in on his experience thus far several months in now. He is not really happy with his marketers (sales managers) product knowledge or help with case design. He actually called me for help on a case and I was able to refence a product option that his marketer had missed....and I am not a wholesaler so that really should not have happened.

In regards to his leads and appointments I do not think he has had a sale in several weeks now. It seems that JD Melburg is constantly recruiting which leads me to wonder why the turnover is so high. The individual had also told me that in 2018 the greater tampa bay area generated 650 leads which sounded like a lot BUT if they have 10 agents in the area that is 65 a year which is around 1 a week. Not saying that is good or bad just reporting what I have heard. Hope this helps

 

[Naples]

Makes sense to me now that I know they could not provide me with the advertised 8-10 per month which is the sweet spot of making sales.

 

[bluesky3000]

Heard from friends its a good job but definitely gonna be a hardone, friend who left, grind really hard and got paid well but it ate up all his time..

 

[singerman]

Be careful, they promise the moon about leads but you will find they don't keep their promises, they will be farther away then you specified and their appointment confirmation process is suspect. You are expected to show up without confirming on your own and many times no one will be there. The average case size of $50 k is quite small in the annuity world. If you write business with an existing customer they make you jump through hoops to prove you had a relationship or it came from something you did and then they claim that client as theirs and you aren't listed as the servicing agent. They also will tell you to go see someone who canceled the appointment and tell the prospect you never got the message. quite unethical in my opinion.

 

[CALTCAgent]

quite unethical in my opinion.

I agree. I would not do business with them. Too bad other agents don't hold them more accountable and let them know that its not ok to have questionable ethics and misrepresent the job to agents.

 

[jasperjohns]

UPDATE: The agent I keep reporting about has officially left. He said that the quality of leads got worse over time and that they started sending him to existing clients of the FMO that had told the appointment setter that they didn't want to see anyone else. He actually said that some of the houses were so bad he brought a gun into the house for safety. I was shocked that the experience took such a 180. I suppose this all explains why they are constantly recruiting.

 

[J2727]

I know several people in Tucson ( I spent several years there myself) that can attest that Melberg is a very troubled individual in his personal life as well. His personal attributes bleed into his business as he treats people both employees and clients as disposable commodities that can be manipulated used and tossed. His actions will catch up with him as they always do with anyone that conducts their life in such a manner. As I stated in earlier posts, the pitch presented to me to join the organization was completely different than what was presented once at the training.

Sounds like a sociopath.

 

[J2727]

Saw this a while ago. Don't know the extent to which this company is involved.

An investment fraud involving structured cash flows:

National Wave Of Five Lawsuits Filed Against "Middlemen" Who Lined Up Victims In $100 Million Predatory Retirement Investment Scheme