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You are very correct! I was an OSJ, still 24 licensed, for Lincoln, and had brokers that lived all across the country.
As you said I went to them to do their annual audits, and they came to me for the "mandatory" compliance meetings.
Captive Life Company Office Expense
- Thread starter eric rose
- Start date
You are very correct! I was an OSJ, still 24 licensed, for Lincoln, and had brokers that lived all across the country.
As you said I went to them to do their annual audits, and they came to me for the "mandatory" compliance meetings.
You could go rent an offc suite, fully furnished and have electronic support that would duplicate what you have, for a lot less cost; like $ 500-600 mo. Try HQ Office or one of those set-ups. Seems like you are getting very little for what you are paying.
B/D requires you to be in an offc...? So what that says is, in addition to being in the wrong set-up for insurance, you are with the wrong B/D as well. There are many independent B/D's that will allow you to operate from your home, no problems there. Indy B/Der's
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I think you need to call shenanigans on this situation as it is really Bull s hit. READ your contract, I doubt seriously you are required to comply with the things you've mentioned so far. You are buying into the urban myths of a particular office.
Listen, are you a W2 or 1099 tax report? If you're an employee some of this part of working for THEM. But let me tell you, you work for yourself... you are paying the bill. If it were me, and it was at one time 20 years ago, I'd be looking for office space elsewhere.
You have to understand in your first couple years you are meat. Your survival chances in this business work against you. They know it, they take advantage of it. That's your money you're giving them. If you are buying into what they are saying, well then, good luck.
If you are going to last in this business, learn to question how someone else wants to spend your money. Overhead kills more agents than anything else. Half of that money could be spent on prospecting leads who will eventually pay you. Right now that money spent really isn't helping you more than it is helping them with their overhead.
You have to figure out at some point, by going along with this, you are doing them a bigger favor than they are doing for you. Lots of career agents who are no longer in the business couldn't grasp that concept.
Listen, are you a W2 or 1099 tax report? If you're an employee some of this part of working for THEM. But let me tell you, you work for yourself... you are paying the bill. If it were me, and it was at one time 20 years ago, I'd be looking for office space elsewhere.
You have to understand in your first couple years you are meat. Your survival chances in this business work against you. They know it, they take advantage of it. That's your money you're giving them. If you are buying into what they are saying, well then, good luck.
If you are going to last in this business, learn to question how someone else wants to spend your money. Overhead kills more agents than anything else. Half of that money could be spent on prospecting leads who will eventually pay you. Right now that money spent really isn't helping you more than it is helping them with their overhead.
You have to figure out at some point, by going along with this, you are doing them a bigger favor than they are doing for you. Lots of career agents who are no longer in the business couldn't grasp that concept.
- Thread starter
- #14
- 4,132
read your requirements to be there. Question everything. AsK Why? Ask if other agents have set up their own shop elsewhere?
If you don't want to pay for that kind of arrangement, be willing to have a little will power to challenge it. You don't necessarily have to work from home, but is there a city or town you want to work from? You can always come in for meetings and training. $280 a week is pretty steep. Are you basically giving them back your training subsidy?
If you don't want to pay for that kind of arrangement, be willing to have a little will power to challenge it. You don't necessarily have to work from home, but is there a city or town you want to work from? You can always come in for meetings and training. $280 a week is pretty steep. Are you basically giving them back your training subsidy?
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I'm in southern CT and I hear the exact same gripe about Met here. The desk fees chase people out of the bus. The vet agents at Pru get beat up too unless they are willing to "hotel" which is to say not use the drawers on a desk.
Oops: didn't realize this thread was ancient...
Oops: didn't realize this thread was ancient...
Holy batman bring thread back from the dead.
Actually, I am from the area and I am fairly certain I am familiar with the company who the OP is/was working for. While the desk fees are high, they do include alot, and the comp that they offer, is quite a bit higher than most other captive agencies.
All in all, even if it is 1k a month... you got to factor it into everything else. If that is the fixed cost to run a business, so all you do is focus on selling. it is not that bad.
Actually, I am from the area and I am fairly certain I am familiar with the company who the OP is/was working for. While the desk fees are high, they do include alot, and the comp that they offer, is quite a bit higher than most other captive agencies.
All in all, even if it is 1k a month... you got to factor it into everything else. If that is the fixed cost to run a business, so all you do is focus on selling. it is not that bad.
