Hi all! Brand new to this forum.
I’m at crossroads and because I don’t have enough experience to aid in determining the long term financial outlook and success of either decision I’m seeking some advice.
I’m currently selling P&C and Health & Life, have plans to go the captive agent route with this carrier, but I’ve recently been approached by a commercial brokerage who wants me to come onboard with them asap and I now I have no idea what I’m doing anymore.
I’ve heard the wild success stories and headlines from both sides of the business: “Captive agent builds $12mil book over 15 years and retires at age 50!” or “Commercial producer makes $400k from renewals alone in year 5 and after making partner retires at age 50!”
I want to know what the pitfalls are because no one ever talks about those. Am I thrilled at the prospect of meeting mandated captive agency metrics every year and not truly operating the agency how I want? Not really. Do I think the captive route is an amazing opportunity that has the potential to change my life if I work my butt off for it? Sure. Are $400k years uncommon on the commercial side? Absolutely not. But will I enjoy not “owning” and operating my own thing in lieu of the potential massive amount of money I COULD make?
What are the averages here? What are the real expectations? If I jump ship from the captive agency ownership program I don’t get another shot later. If I don’t take this commercial opportunity I don’t know if or when I’ll have another one.
Give me some stories, please. Right, wrong, good, bad, and indifferent because I need to be able to see the big picture.
Thanks!
I’m at crossroads and because I don’t have enough experience to aid in determining the long term financial outlook and success of either decision I’m seeking some advice.
I’m currently selling P&C and Health & Life, have plans to go the captive agent route with this carrier, but I’ve recently been approached by a commercial brokerage who wants me to come onboard with them asap and I now I have no idea what I’m doing anymore.
I’ve heard the wild success stories and headlines from both sides of the business: “Captive agent builds $12mil book over 15 years and retires at age 50!” or “Commercial producer makes $400k from renewals alone in year 5 and after making partner retires at age 50!”
I want to know what the pitfalls are because no one ever talks about those. Am I thrilled at the prospect of meeting mandated captive agency metrics every year and not truly operating the agency how I want? Not really. Do I think the captive route is an amazing opportunity that has the potential to change my life if I work my butt off for it? Sure. Are $400k years uncommon on the commercial side? Absolutely not. But will I enjoy not “owning” and operating my own thing in lieu of the potential massive amount of money I COULD make?
What are the averages here? What are the real expectations? If I jump ship from the captive agency ownership program I don’t get another shot later. If I don’t take this commercial opportunity I don’t know if or when I’ll have another one.
Give me some stories, please. Right, wrong, good, bad, and indifferent because I need to be able to see the big picture.
Thanks!