I am new to the insurance industry and I have joined a Famers Insurance Agency in OK. I am resident of OK and fully licensed. I also have my TX non resident license in hoping to sell in TX in the future. How do I get signed up as an independent agent wanting to sell in TX. Just looking for suggestions and tips. Thanks for the help!
Selling in OK but Wantoing to Sell in TX Also!
- Thread starter mexilent
- Start date
- 11,278
So... let's get this straight:
1) You are a captive agent in OK with Farmers Insurance...
2) You want to have independent contracts (away from Farmers) so you can sell in Texas...
3) You say you are "fully licensed", which, I assume that means securities licensing, and that would mean 'selling away' from your approved B/D contracts?
First, for your Farmers & B/D relationships... this is stupid. Even if you disclosed it with FINRA as an OBA (outside business activity), you're with a captive agency. They won't approve this.
Second, I can't imagine a company offering you ONLY a non-resident contract without requiring a selling contract in your resident state. I'm not an expert in this, but this would seem logical.
Which means that, if a resident selling contract is required, it will be disclosed on your DOI company appointments... which, I'm sure, is routinely checked by your company's compliance department.
1) You are a captive agent in OK with Farmers Insurance...
2) You want to have independent contracts (away from Farmers) so you can sell in Texas...
3) You say you are "fully licensed", which, I assume that means securities licensing, and that would mean 'selling away' from your approved B/D contracts?
First, for your Farmers & B/D relationships... this is stupid. Even if you disclosed it with FINRA as an OBA (outside business activity), you're with a captive agency. They won't approve this.
Second, I can't imagine a company offering you ONLY a non-resident contract without requiring a selling contract in your resident state. I'm not an expert in this, but this would seem logical.
Which means that, if a resident selling contract is required, it will be disclosed on your DOI company appointments... which, I'm sure, is routinely checked by your company's compliance department.
Just focus on following the 3yr career track. I've heard Farmers has one of the better captive career programs out there.
TFMSINC
Expert
What DHK said. He always gives good advice. Captive means captive.
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