- Staff
- #11
if it smells like a skunk...then......
Sounds a lot like Primerica. I dealt with them when I first entered the insurance industry.
Starting at World Financial Group
- Thread starter GCast
- Start date
- 1,953
As for the potential of a noncompete just ask your recruiter if you decide to leave what can you take with you? Can you have access to the clients you bring in? Can you take your team with you if you if they would like to go with you. Then ask to be shown the answers in the agent agreement. I can understand the reasoning for a noncompete from a company point of view but if there is one one people should know about it going in because when leaving the companies will bring it up real quick.
Of course it depends on the respective state law if it's enforced and to what extent.
Of course it depends on the respective state law if it's enforced and to what extent.
- 8,707
This post is spot on....Verify everything via the contract you are signing...If your recruiter indicates anything contrary to the contract realize you have just caught them in a lie. And also realize your recruiter can not...let me say that again CAN NOT verbally alter your written contract.
Aren't there other firms out there willing to reimburse for exam expenses who you would be willing to sell for?
- 15,041
If you want to take your series 6 or 7, you need a sponsor to even take the test, which means a U4 listing your sponsor. Someone is lying here.
- Thread starter
- #16
I'm in California. The test is just the life insurance license. Do you still need a sponsor for that?
The non-compete is apparently not legal in California, which is why I didn't see anything on the forms. I didn't see anything that says I have to work for them exclusively either. I already signed the forms to be a recruit for my aunt just so she can qualify since it's not a commitment for me yet.
All those who work for WFG are independent contractors, so I think I can leave at anytime at this point without consequence.
The non-compete is apparently not legal in California, which is why I didn't see anything on the forms. I didn't see anything that says I have to work for them exclusively either. I already signed the forms to be a recruit for my aunt just so she can qualify since it's not a commitment for me yet.
All those who work for WFG are independent contractors, so I think I can leave at anytime at this point without consequence.
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- 1,953
I don't think you need a sponsor to sit for the life license but of course I could be wrong. Producer Types and Requirements
As a suggestion it might be a better idea to combine the Life and Accident & Sickness rather than just take the life alone. as for the contract it's kind of hard to know what to look out for without knowing how the agent contract reads. Most everyone has access to the same carriers so the devil is in the details of the contract.
As you have signed some forms be careful what you post on an open forum because you may say something that is confidential company info. which you may not know about. As you have informed someone that you post on this board, someone is watching.
As a suggestion it might be a better idea to combine the Life and Accident & Sickness rather than just take the life alone. as for the contract it's kind of hard to know what to look out for without knowing how the agent contract reads. Most everyone has access to the same carriers so the devil is in the details of the contract.
As you have signed some forms be careful what you post on an open forum because you may say something that is confidential company info. which you may not know about. As you have informed someone that you post on this board, someone is watching.
- 11,273
Non-competes are illegal. That is true.
What about a non-solicit agreement? It could be a radius from your home or a period of time or both? Check for that.
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Ask them if you can contract with any insurance company who isn't affiliated with AEGON.
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Their terminology is wacked. They don't get it. They say they're "non-captive" but that just means that you can work with many carriers represented through their broker dealer.
If there's a selling agreement, you can sell it.
If there ISN'T, you won't be able to sell it.
Check on that.
You're being very specific with them... and they have no idea about this kind of stuff.
The fact that they DON'T KNOW shows you the level of "professionalism" they have.
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Keep in mind that if you contracted outside the broker/dealer, then your upline won't get paid! Do you think they want to encourage that?
What about a non-solicit agreement? It could be a radius from your home or a period of time or both? Check for that.
- - - - - - - - - - - - - - - - - -
Ask them if you can contract with any insurance company who isn't affiliated with AEGON.
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Their terminology is wacked. They don't get it. They say they're "non-captive" but that just means that you can work with many carriers represented through their broker dealer.
If there's a selling agreement, you can sell it.
If there ISN'T, you won't be able to sell it.
Check on that.
You're being very specific with them... and they have no idea about this kind of stuff.
The fact that they DON'T KNOW shows you the level of "professionalism" they have.
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Keep in mind that if you contracted outside the broker/dealer, then your upline won't get paid! Do you think they want to encourage that?
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- 15,041
The sponsor is for the securities license. Quite a few advantages to not having a securities license. Namely, you're not associated with the broker/dealer, and they can't use OBAs to control you.
