Who here works or has worked with JD Mellberg in the last year?

[Naples]

I am also scheduled to go to Tuscon this month. Any other feedback is welcome.

 

[CALTCAgent]

How much is the cost for the training ? I thought it was $500 ? Plus the cost of airfare puts a person over a $1,000 before knowing if they can really deliver enough solid appointments.

I also wonder if they have an exit plan if you leave where you can deliver or be paid on anything in the pipeline waiting to be transferred like a 1035 exchange.

 

[Tahoe Ray]

How much is the cost for the training ? I thought it was $500 ? Plus the cost of airfare puts a person over a $1,000 before knowing if they can really deliver enough solid appointments.

I also wonder if they have an exit plan if you leave where you can deliver or be paid on anything in the pipeline waiting to be transferred like a 1035 exchange.

$1,000 is normally a reasonable amount to invest in a new lead source to test its viability.

It's always smart to have a plan B in regards to moving on but you may not get the feel for how this goes down until you get there.

Crush it while you can, and if it's a bad scene, cut bait quickly.

The old adage "hire slow (in this case, the imo/lead generator), fire quickly (move on)" applies to people signing up for 1099 gigs as well.

 

[goillini52]

I went to the training last year and was quite disgusted with their offer. The offer to receive their leads requires an agent to relegate oneself to an LOA status on all lines of life and health business irrespective of its linkage to Melberg. A power of attorney is also demanded giving Melberg the right to change,alter, or cancel any appointment you may have irrespective to its linkage to any received Melberg lead and 6000 to 8000 dollars a year is required to buy the leads as well as buying their E and O. What this means for someone who holds a substantial Medicare BOB, like me, is that I would be required to have all of my commissions sent to Melberg and they would decide if they were entitled to any and send them to me or if they believed I was spending too much time with this endeavor they could cancel them.
The support staff was a group of "sleazy" reps for Melberg that claimed they sold tens of millions of annuity and indexed life. There is no way of verifying this as Melberg made all of his staff use his writing number when their alleged production took place. In conclusion, I was the only one that did not accept the offer which made me feel sorry for the desperate people in this field that would accept such a one sided contract.

I wonder how many "FOOL" agents fall for this trap? I imagine that all they get is green, inexperienced agents to fall for that. It is digusting.

 

[J2727]

I went to the training last year and was quite disgusted with their offer. The offer to receive their leads requires an agent to relegate oneself to an LOA status on all lines of life and health business irrespective of its linkage to Melberg. A power of attorney is also demanded giving Melberg the right to change,alter, or cancel any appointment you may have irrespective to its linkage to any received Melberg lead and 6000 to 8000 dollars a year is required to buy the leads as well as buying their E and O. What this means for someone who holds a substantial Medicare BOB, like me, is that I would be required to have all of my commissions sent to Melberg and they would decide if they were entitled to any and send them to me or if they believed I was spending too much time with this endeavor they could cancel them.
The support staff was a group of "sleazy" reps for Melberg that claimed they sold tens of millions of annuity and indexed life. There is no way of verifying this as Melberg made all of his staff use his writing number when their alleged production took place. In conclusion, I was the only one that did not accept the offer which made me feel sorry for the desperate people in this field that would accept such a one sided contract.

So you have to pay for the leads?

I get their emails randomly.

Was under the impression an agent didn't have to pay anything and would just receive the appointments for a 45/55 split (or something like that).

 

[Naples]

I was told you get the leads for no cost as long as you produce a certain level, so if you are producing and closing no cost. If you are not, which does make sense for the lead cost, then there is a cost and you choose which lead you wish to accept. Also it is not a lead but a pre set verified appt. Will leave feedback when I sit thru their presentation.
Also the E&O is 90/quarter, not bad to me

 

[Naples]

It absolutely bothers me and that is why I went on this board looking for opinions. The hesitancy I initially had with them was that they did not have anybody actively working my are which is a hotbed of retirement annuity prospects. I appreciate the feed back from evrybody and am now rethinking my position as this is an opportunity to pursue. Thanks Montana,

 

[CALTCAgent]

I can't believe anybody would fly to Arizona without getting everything in writing up front. What is even more crazy is this company does not give you the "details" in writing before engaging in multiple phone calls and/or flying out to Arizona.

On top of all that, a company that is not confident enough to just deliver what they promise and get their cut on annuity business only but wants power of attorney over other business. I guess they want to monitor everything and that is the only way to do it.

Its a red flag when being misleading about the offer and not just putting out the details of the offer right away.

 

[J2727]

Why did they want the power of attorney?

What do they care if you also do Medicare, etc.?

Or do they just want you to move all your appointments under them so they get an override on all business other than annuities, in addition to the annuity split?

 

[pfg1]

Agree, that is crap OR they should at least give you all the info up front.

Edward Jones does a similar thing... to work with them you have to terminate ALL other contracts, even if you have substantial trails. Not assign to them and they pay you... just terminate your existing business and forfeit all your existing commissions going forward. Which is likely why almost every EJ rep comes in green.