by davidpowers711 » Wed Dec 02, 2009 01:40 am
I will have my life health and annuity license. I can go either direction. I just some insight as to where to go. I was informed that going through an IMO or MGA is good. And also to stay independent. I talked to a person from Brokers Alliance and they said that I was too new to be helped by them because they offer no training. I am very new to the business, and I live in Florida
Posted: Wed Dec 02, 2009 05:59 am Post Subject:
Both being captive and independent have their own advantages. For new agents, it could be good to work under an insurance major and develop their own client network for a couple of years. This would give you a platform to start independently.
Posted: Thu Dec 03, 2009 05:16 am Post Subject:
While our business is not difficult to learn when properly trained, trying to learn on your own is next to impossible. Unless you already have intimate knowledge of the myriad products and tweaks that can be applied to them.
You might be tempted to think that representing lots of companies broadens your appeal, but it burdens you with the responsibility to know all of their products, services, and pricing. Why? Because we all have an ethical responsibility to put the best product we have available to meet our clients' needs, at the best possible price.
Not only do you need product knowledge, you need proper sales training, and someone to look over your shoulder to make sure you're doing things properly until you become comfortable.
And, in Florida, if you're not already aware, you need to be licensed in each county you intend to do business. Not to mention state/federal laws governing marketing products to seniors, which make up a significant portion of the market in your state.
I would recommend learning from either a good GA or become a captive with a large company for a few years until you've fledged your flight feathers and are ready to flee the coop.
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