- 8,707
First let me start out by saying I did a search and what I came up with looked like people mainly searching for an agency to partner with and that is not my question.
I recieved an email out of the blue from the owner of a local P&C agency. We just finished a first meeting over lunch to introduce ourselves to each other (Okay the meeting ended 2 1/2 hours ago).
The owner was just feeling me out to see if I could add value to the agency, I think he believes I can because his next step is to see if we can come to an agreement about some sort of partnership/joint marketing etc.
He sees there is a couple of ways to work this:
1. He buys me...ie I become an employee of his agency either salaried or commissioned
2. I remain independent but work out of his office helping to build his Life & Health side possible split deal.
3. Some sort of formal referral/joint marketing relationship
4. Informal relationship we hand out each others cards.
I'm looking for advice about how much time to waste on talking to him and what I could really hope to get out of the relationship. I'm pretty much told him I don't want to enter any agreement where I do not own my clients.
Side issues his agency currently sells term (They feel comfortable selling this product), they have a benefits department that does some group health, and Group Life & DI from my conversation I don't believe they do any voluntary products or retirement plans.
I don't sell health insurance but I am actively selling voluntary products in the workplace, plus individual life & di along with Med Supps and LTC things they don't even touch now.
He brought up more than once the benefit of having available his staffed office that my client calls could be answered by one of his people as opposed to going into voicemail (I have my office calls forward to my cell and answer or return calls promplty). My concern with using his office in anyway even if I maintain ownership in my clients is if/when we part ways my clients will have gotten used to calling his agency.
Pros for me:
Acess to his client base, both commercial and residential which would be nice
Possible use of his office in some way (my home office is not appropriate for bringing a client to.
Other than my increasing his sales on the Life & health side I wouldn't bring a large book to his agency...What I mean is that my clients are scattered all over my state and as he mentioned and agrees his agency has a reach only so far and most of my existing clientbase is outside that footprint (however as I've been having some back issues I would like to focus more on the local area in the future.)
Has anyone ever had a situation like this. Do you think its possible any good could come from further discussion or does the fact that he has a benefits department and sells term really make us more competitors.
I recieved an email out of the blue from the owner of a local P&C agency. We just finished a first meeting over lunch to introduce ourselves to each other (Okay the meeting ended 2 1/2 hours ago).
The owner was just feeling me out to see if I could add value to the agency, I think he believes I can because his next step is to see if we can come to an agreement about some sort of partnership/joint marketing etc.
He sees there is a couple of ways to work this:
1. He buys me...ie I become an employee of his agency either salaried or commissioned
2. I remain independent but work out of his office helping to build his Life & Health side possible split deal.
3. Some sort of formal referral/joint marketing relationship
4. Informal relationship we hand out each others cards.
I'm looking for advice about how much time to waste on talking to him and what I could really hope to get out of the relationship. I'm pretty much told him I don't want to enter any agreement where I do not own my clients.
Side issues his agency currently sells term (They feel comfortable selling this product), they have a benefits department that does some group health, and Group Life & DI from my conversation I don't believe they do any voluntary products or retirement plans.
I don't sell health insurance but I am actively selling voluntary products in the workplace, plus individual life & di along with Med Supps and LTC things they don't even touch now.
He brought up more than once the benefit of having available his staffed office that my client calls could be answered by one of his people as opposed to going into voicemail (I have my office calls forward to my cell and answer or return calls promplty). My concern with using his office in anyway even if I maintain ownership in my clients is if/when we part ways my clients will have gotten used to calling his agency.
Pros for me:
Acess to his client base, both commercial and residential which would be nice
Possible use of his office in some way (my home office is not appropriate for bringing a client to.
Other than my increasing his sales on the Life & health side I wouldn't bring a large book to his agency...What I mean is that my clients are scattered all over my state and as he mentioned and agrees his agency has a reach only so far and most of my existing clientbase is outside that footprint (however as I've been having some back issues I would like to focus more on the local area in the future.)
Has anyone ever had a situation like this. Do you think its possible any good could come from further discussion or does the fact that he has a benefits department and sells term really make us more competitors.