Originally Posted by BobbyR
Ray they're doing Allianz. The imo
is at 8.5-9% commish on the Index annuity. My friend is at 6%. The imo
spends about $5k per seminar and provides the nice office and staff. He's ok with the imo
making money as he has zero risk and stress.What do you mean making money on agent comp in addition to their override?I thought the imo
would only make the difference between the 9-6%? Does the imo
make other comp?
You said 250k week netting 13k. I assumed total agent comp is 8.66 (since it looked like he was making 5.2). I didn't realize that you were trying to figure out what the IMO
is making too. If he's making street or even a little below, then it's a great deal. When you say 60% split, that would normally be based on agent comp...so:
I guessed around 30k for the 9 seminars (mailing, helper, and dinner). So if he's done 1m plus, the imo
has already recouped their costs, not including whatever override they would normally make. That's what I meant.
It really does sound good for both.....no sarcasm intended.