Originally Posted by insurancerookie
Hello. I am new to the business. Was with an financial company writing annuities for a few months and decided to leave the company. At the time, they had me contracted through all the major insurance carriers by way of their
FMO. I have since left the financial company, and would like to fire the
FMO or tell them adios so that I can join another one down the road. I was told by the
FMO a couple of weeks ago when I called that my old employer would have to "release me" first. Why would that be and why would my old employer have the ability to make this determination as to whether I leave the
FMO or not, and who I choose to write business through moving forward? Thanks for your help!
Because the reality is that your employer is contracted under the
FMO and you are contracted under them. There is an unwritten rule that agents are held to that in the absence of 6 months (usually) without writing business, they need a release from everyone in their upline.
It's the most disgusting, dishonest, deceptive rule because YOU DIDN'T AGREE TO IT.
You need to ask everyone in your heirarchy for a release. I've been preaching that everyone insist on a pre-nup before signing any contract and have been doing this for years.
It's a shame that agents, because of their ignorance and due to the fact that it's a system that preys on this ignorance, continue to do business with lying, cheating bastards (and anyone who know me understands that I'm holding back now).
In your case, just ask your employer for a release in writing and get it to the
FMO and ask the same from him.
Good luck.
Rick
How do I fire my FMO?
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