What Are My Options to Become Independent?

[molski]

fasttrackagents

This seems interesting but $1500 seems a lot to get started. What is everyone else's thoughts on this? For me, having proper guidance in getting started seems very important. Also, coming from another industry, knowing what type of insurance to get started in has me completely confused.

 

[asfan]

Wouldn't waste my money on it.

Get in with an independant firm that will help you get your feet wet, let you work on salary / commision (yah, they are still out there) and provide you with real people to help.

Talk to a well respected independant firm in your area. They can help guide you. It worked for me and they helped me become successful.

 

[FloridaAgent007]

SIAA will not train you and they will not even consider you unless you are pretty seasoned. I am in the SIAA.

 

[VaDwayne]

Been lurking here for a while love the forum.

OK,

So I have been in mortgage broker for nearly 8 years and was very successful until recently. Now I am very interested in jumping in to the insurance world. Here is my problem. I have been self-employed for a while and I really want to open my own independent agency. I realize I have zero experience in the insurance biz and this would be suicide.

Not the case at all. Your statement that it would be suicide is only true if you have a terrible work ethic and the intelligence of a rock.

I also have terrible credit at the moment and a misdemeanor on my record from 8 years ago when I was in college. It looks like I will never get hired on by a SF, Farmers type company from what I have seen.

Consider yourself lucky, especially on Farmers..I only sell commercial insurance on the P&C side, and in over 1 1/2 years I have never quoted a Farmers account. Their commercial rates must really suck...

I do have about $130k sitting in my bank right now so I am not looking for a salary or commission advance from any one.

You have the money for the "best" training out there.

What are my options to learn the biz and keep as much of my commission for myself as well as become independent broker in a few years?

Start out as an independent. If you have a good work ethic, you will do fine.

I am looking to get my P&C as well as my health and life license.

I LOVE P & C, well at least the commercial side. I don't think I'm wired to sit at a desk and answer calls from people about their car insurance. Would need to hire a staff.... I also enjoy the med supp side of the business as well, but I am giving those clients to another agent now, and he is giving me commercial leads.
I do know someone who has a farmers office and I was thinking about asking him if I can work under him and learn the biz but then I'll have to start all over when I leave to go independent.

DON"T GO TO FARMERS, do a search on the subject on this forum.

Thanks in advance for your time and response

Whatever you do, do what you enjoy most. Sell enough products to find out what you really like, and settle on specializing in a couple of those. If you do what you enjoy, the insurance business is fun , and profitable.