Insurance Agent Forum

[tkaldy]

So I have learned so much from all of you yet I just don't seem to know which direction to go. I got my license about 2 years ago yet I haven't sold anything. My boyfriend and I started an agency (he owns it though) and I have been running it with him since my previous job experience lends well to this. The problem I have is that I just don't have a mentor and have gotten tons of training but still don't even know how to begin. I've been thinking of maybe going captive for the few years to get my feet wet but don't know yet.

So, here's the few questions I have:
1) If I go captive how do I screen the company? I've looked at New York Life and like the training program?
2) Do they offer salary plus commission? (That may be a dumb question!)
3) If I schedule an interview what are some of the things I should ask about?

Someone please help! Oh, I want to be able to work with an agency that gives me the ability to use my full health and life license in California.

Thanks in advanced,
TK

[Frank Stastny]

Something ain't right. This is what I see.

1. "I got my license about 2 years ago yet I haven't sold anything."

2. "My boyfriend and I started an agency (he owns it though) and I have been running it with him"

3. "I just don't have a mentor"

4. "have gotten tons of training but still don't even know how to begin."

5. "I want to be able to work with an agency that gives me the ability to use my full health and life license in California."

Sounds to me like the first thing she needs to do is get a new boyfriend.

[xrac]

Originally Posted by Frank Stastny

.....Sounds to me like the first thing she needs to do is get a new boyfriend.

Yes! She either needs a new boyfriend or they both need a mentor. How has the agency your boyfriend started done?

[patch36]

Nobody is going to give you anything. As a captive you will be dialing the phone all day long, and in the beginning they will make you create a list of your 100 closest friends and family to start with. They all call it something different, like circle of influence, ect. It really sucks selling to friends and family. If you survive that and work those people for referrals then maybe it will work and you will make a living as a captive.

You may want to call on all of the older agents and established small agencies to see if they need help. Older agents, especially P & C tend to be lazy and do not work their book of business for cross sales, ect. You would be captive, but I see lots of opportunities for newbys in that area.

I learned the Annuity business as a captive to a marketing group that provided preset appts, up to 12 a week. Did that for a couple years and was making 6 figures after expense the first short year of 9 months. They took half the commissions but in return, at leas for the first year and a half, provided me with decent appts, 3-4 a day in the same general zip code. Not much training, but plenty to get me started, to create a pitch book and enough knowledge to be dangerous. Not many of these kinds of marketing groups left, but that is how I cut my teeth in the Annuity Business.

If you want to PM me I will give you the name of a contact at an Annuity based marketing group that may be able to help. They are top drawer and provide lead tools, seminars, pay full street commissions, ect. and a lot of products. I use them some, but I am 95% independent and self generate almost all of my present business.

[tkaldy]

Thanks patch36 for your input. I'll PM you offline and chat. I appreciate the response.

Well I knew writing this I might get "haters". Rather than actually promoting what this board is about you bash on people. What a lack of professionalism you give. You could just simply provide some input or move on to another post!

[DarrylVK]

Originally Posted by tkaldy

Thanks patch36 for your input. I'll PM you offline and chat. I appreciate the response.

Well I knew writing this I might get "haters". Rather than actually promoting what this board is about you bash on people. What a lack of professionalism you give. You could just simply provide some input or move on to another post!

I guess many agents here are wondering what has gone on for the 2 years you have been working in an agency.

I guess your decision about going captive or remaining an independent will boil down to asking yourself a few questions.

How much of an independent person are you?

Do you work better with someone telling you what to do or independently?

Have you looked for another local agent you admire to approach about becoming your mentor?

Is there a local Insurance Agent Association or Group where you could meet the other local agents?

If they're going to be your mentor what is in it for them?

If you are going to work under another's General Agency where they receive a portion of the commissions (or an override) that you earn then certainly it is worth it to them to train you.

I would make 100% sure I knew what restrictions I had on me whether I went captive or Independent.

I would also see if the person I chose to work with had the same morals and customer service attitude that I had prior to working with them.

My choice was independent as I prefer to work for myself.

Good Luck

"Luck is where Preparation meets opportunity."

[tkaldy]

Ok, so let me explain a little more. I haven't had an active license for 2 years. I had another job that I was working for most of the year and a half. I was dealing with paperwork with getting other experienced agents done. We were primarily Premium Financing. Boy was that a mistake! Please no bashing-lesson already learned about that venture.

I guess what I am just wondering is what it would be like as a captive versus independent from people who have experience with it. People I have known that went the captive route were very happy to be independent but I just would like some other opinions from you all who hopefully are more successful than they have been.

When I say a mentor I mean someone to help me get started. I would of course share my commission.

Thanks for the feedback. Please keep it coming.

[ajadaca]

Originally Posted by patch36

Nobody is going to give you anything. As a captive you will be dialing the phone all day long, and in the beginning they will make you create a list of your 100 closest friends and family to start with. They all call it something different, like circle of influence, ect. It really sucks selling to friends and family. If you survive that and work those people for referrals then maybe it will work and you will make a living as a captive.

You may want to call on all of the older agents and established small agencies to see if they need help. Older agents, especially P & C tend to be lazy and do not work their book of business for cross sales, ect. You would be captive, but I see lots of opportunities for newbys in that area.

I learned the Annuity business as a captive to a marketing group that provided preset appts, up to 12 a week. Did that for a couple years and was making 6 figures after expense the first short year of 9 months. They took half the commissions but in return, at leas for the first year and a half, provided me with decent appts, 3-4 a day in the same general zip code. Not much training, but plenty to get me started, to create a pitch book and enough knowledge to be dangerous. Not many of these kinds of marketing groups left, but that is how I cut my teeth in the Annuity Business.

If you want to PM me I will give you the name of a contact at an Annuity based marketing group that may be able to help. They are top drawer and provide lead tools, seminars, pay full street commissions, ect. and a lot of products. I use them some, but I am 95% independent and self generate almost all of my present business.

patch..email me, I have a few ???'s for you...

ajadaca@yahoo.com

Thanks..

[Frank Stastny]

Originally Posted by tkaldy

Thanks patch36 for your input. I'll PM you offline and chat. I appreciate the response.

Well I knew writing this I might get "haters". Rather than actually promoting what this board is about you bash on people. What a lack of professionalism you give. You could just simply provide some input or move on to another post!

Hold on little girl. That is exactly what you sound like, a little girl throwing a temper tantrum.

You said the following.

"I got my license about 2 years ago yet I haven't sold anything. My boyfriend and I started an agency (he owns it though) and I have been running it with him since my previous job experience lends well to this. The problem I have is that I just don't have a mentor and have gotten tons of training but still don't even know how to begin."

You told us you have had your license for two years. That you and your boyfriend started an agency. That implies that you have other agents working for you. If it is just you and him then you should have said so instead of implying that you have a "full blown" agency with other agents.

You also said you have been running it, we assumed for two years since you didn't say otherwise.

You said you have had "tons of training" but still don't know how to begin. Where did you get the "training"? Who trained you? What is your boyfriend doing that he is too busy to help you get learn the business and get started? It sounds like your "training" was a waste of time if you didn't learn anything.

What would you surmise if all I gave you was that information?

The same thing I and others did. You have been running an agency for two years, since this is an insurance discussion board and you didn't tell us different we assumed it was an insurance agency.

If you want our help you have to learn to express yourself in writing and be more specific with your information and the questions you ask.

I suggest when asking questions you more carefully word them and then read and edit them before posting here if you want help.

We provided the appropriate input for the information you gave us. How dare you call us "haters". Ask intelligent questions and we will give you intelligent answers.

[GreenSky]

Originally Posted by Frank Stastny

Hold on little girl. That is exactly what you sound like, a little girl throwing a temper tantrum.

Hold on just a minute Goat Boy. This person is from California. Just because there is a "boyfriend" you should not assume a "girl."

Let's keep the responses gender neutral or I'll stick SAI's boyfriend on you.

Rick

[xrac]

Call me a "hater" or "unprofessional" if you want to but what I say is "get out of the kitchen if you can't stand the heat". I had to agree with Frank's observation. Based upon your initial post it appears that either your boyfriend doesn't know what he is doing or doesn't want you to learn the business and is using you. Either conclusion is not especially flattering.

From the questions you ask it appears that although you have been licensed you have a lot to learn. My opinion is whether you are captive or indy is not the most critical element you need to determine. In either situation the key to your success is to find a mentor that you can do joint work with and from whom you can learn the business. As far as I know every outfit is straight commission except Metlife, American General, and Western Southern pay a starting salary. I don't know about other companies.

[rocketboy]

AG edwards also pays a starting salary. As well as Ameriprise

[xrac]

Originally Posted by rocketboy

AG edwards also pays a starting salary. As well as Ameriprise

Did you mean Wachovia? As far as that is concerned I think all of the wirehouses pay starting salaries for the first year or so.

[senior-advisor-indiana]

Originally Posted by GreenSky

Let's keep the responses gender neutral or I'll stick SAI's boyfriend on you.

Rick

Rick, do you always refer to yourself in third person?

[GreenSky]

Originally Posted by senior-advisor-indiana

Rick, do you always refer to yourself in third person?

Rick doesn't understand the question.

Rick

[Frank Stastny]

Originally Posted by GreenSky

Rick doesn't understand the question.

Rick

If that was the only thing "Rick" didn't understand!