Income Difference Between Mass Career Vs. Brokerage Contracts

firemanory · 10-28-2009, 03:21 AM

I am new to this board and have been wondering if it would be financially better for me to go independent from Mass or stay as a career agent. I work out of my home and don't need any of the benefits (health, retirement, etc) offered by the company. I am considering going independent to not have to go to any sales meetings because my GA is over an hour away and I am 10 years in the biz. I cannot get much info from the GA about the brokerage contract, as I do really like the MM products and think they are a good fit for most of my clients. However, I dont want to be held to minimums and hate meetings that I am not interested in or am required to go to. I am an effective self manager and motivator, and really want to know the difference in compensation between the career contract vs. brokerage. Anyone have any experience in this? Investment payouts, insurance initial commissions vs. renewals. I would say my annual insurance premiums range in the 50 -100k range and investment gross commissions are in the 25-50k range, but both growing.

Also, what other costs would I be expected to bear on my own if I were to be an independent vs. agent?

I appreciate your help.

Cheers.

maksim · 10-28-2009, 01:34 PM

Where are you located?

The brokerage contract with mass is dependent upon the GA.

As per mass, you are entitled to the base commission, which is the same as the base comp that a career agent gets, however the vesting is better on the brokerage.

The overrides are between what you negotiate with your GA. Feel free to contact me via my website link in the sig, will tell you what I am getting for overrides.