Does anyone have information about Integrity Marketing??

[GMDM100k]

Have you heard about them?

I'm at the understanding they buy out your renewals for a lump sum. Maybe 50% of the account value? And give you a tiny percentage of future commissions and some ownership of the overall company.

I've heard they have gained some traction and have had some big agencies sell out.

What do the Gurus say? Would you guys cash out your accounts and retire?

What would be a fair amount to get for your total renewals?

Do you know anyone who has been a part of it?

Integrity Marketing Group | Life and health insurance distributor focused on the Senior Market.

 

[bboman23]

They are making some pretty big plays in the industry. They are a powerhouse of Medicare for sure. I don't think they are buying renewals in these situations, they are buying the companies. Pretty sure the people stay in place and run the company that was bought and the owner gets a % of Integrity.

Smart business strategy for sure.

 

[goillini52]

Have you heard about them?

I'm at the understanding they buy out your renewals for a lump sum. Maybe 50% of the account value? And give you a tiny percentage of future commissions and some ownership of the overall company.

I've heard they have gained some traction and have had some big agencies sell out.

What do the Gurus say? Would you guys cash out your accounts and retire?

What would be a fair amount to get for your total renewals?

Do you know anyone who has been a part of it?

Integrity Marketing Group | Life and health insurance distributor focused on the Senior Market.

They're the largest distributor of Senior products and getting bigger all the time. They're buying FMO's right and left. Over 140,000 agents. Former NFL QB Steve Young is the Chairman of the Board.

Integrity Marketing Group | Life and health insurance distributor focused on the Senior Market.

 

[GMDM100k]

They are making some pretty big plays in the industry. They are a powerhouse of Medicare for sure. I don't think they are buying renewals in these situations, they are buying the companies. Pretty sure the people stay in place and run the company that was bought and the owner gets a % of Integrity.

Smart business strategy for sure.

I think it's a great idea for them. They're buying agencies. Large ones that are definitely companies in their own.

I haven't heard of any carriers that have been bought. But I've heard of a few large imos.

Maybe a retirement plan for us agencies?? Like social security for us haha.

But yeah I heard the seller still runs the agency so I was confused. So you sell. Get a lump sum. Then start over in regards for your future commissions??

What I don't understand is how they determine the value of your renewals. I think that they pay out a lot longer and more money than people really think.

If none stay on the books then it's a steal for the Imo. But if policies stay you'd lose out?

 

[goillini52]

They are making some pretty big plays in the industry. They are a powerhouse of Medicare for sure. I don't think they are buying renewals in these situations, they are buying the companies. Pretty sure the people stay in place and run the company that was bought and the owner gets a % of Integrity.

Smart business strategy for sure.

Yes, looks like when they buy an FMO, they make the former owners partners.

 

[GMDM100k]

They're the largest distributor of Senior products and getting bigger all the time. They're buying FMO's right and left. Over 140,000 agents. Former NFL QB Steve Young is the Chairman of the Board.

Integrity Marketing Group | Life and health insurance distributor focused on the Senior Market.

That what I've heard also. Would you sell???

 

[goillini52]

That what I've heard also. Would you sell???

Hahaha, I might if I had anything they wanted.

I just realized that you were talking about selling a BoB. I hadn't heard about them doing that. No, I wouldn't sell that.

 

[GMDM100k]

Yes, looks like when they buy an FMO, they make the former owners partners.

So by you saying "buy" them you mean buy the renewals yeah? They're not buying the name of the FMO. And they're not getting an overwrite from the carrier on your business. They're income is the renewals?

That's the only way I can see them buying an FMO. Unless they are taking the agencies direct to sell their products?

 

[GMDM100k]

Hahaha, I might if I had anything they wanted.

I just realized that you were talking about selling a BoB. I hadn't heard about them doing that. No, I wouldn't sell that.

If it's them buying your renewals I would never sell. Maybe I'm too optimistic but I think mine would pay out way more than 50% of it's current value.

Even with ownership of the total company. But it would be enticing..

 

[GMDM100k]

They are making some pretty big plays in the industry. They are a powerhouse of Medicare for sure. I don't think they are buying renewals in these situations, they are buying the companies. Pretty sure the people stay in place and run the company that was bought and the owner gets a % of Integrity.

Smart business strategy for sure.

Now that I'm thinking about it more. Is like you give all of your commissions to them in exchange for a percentage of the overall commissions they get from everyone? And a lump sum up front??

If that's the case and the small percentage was more than my current deposits, how could I say no??

Maybe that's why it's working so well..