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Reply to Oak Tree Financial     
Old 05-07-2013, 07:59 PM   #1
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Join Date: May 2013
Posts:4
State: Earshplitten is an Insurance Agent from Undisclosed Location
Oak Tree Financial Oak Tree Financial
Per Rip Off Reports
  • Posted: Tue, March 26, 2013
:
This company advertises on Craigslist. They usually advertise to new life agents. They do request a license. The ads will typically read like so: Satellite Call Center Life Agents - Immediate Hire - Fast Commissions. They want an upfront fee of $500 to start receiving their leads. I've found many complaints about this company and other names they use to swindle people out of $500. There are usually people who are looking, and in need of, work. There are the most vulnerable when they are desperate and something sounds too good to be true. The address changes regularly. The company has had at least 3 name changes this year. The site creates websites instantly using websites software. The website is usually incomplete. You can check the twitter, etc. links at bottom of page and see that they are just images with no link.
DO NOT SEND THEM ANY MONEY. Read the email letter below.

Domain Name..........
Creation Date........ 2013-03-05
Registration Date.... 2013-03-05
Expiry Date.......... 2014-03-05
Tracking Number...... 1784175864DOMAINCOMVRSN
Organisation Name.... Emilie Ortiz
Organisation Address. PO Box 61359
Organisation Address.
Organisation Address.
Organisation Address. Sunnyvale
Organisation Address. 94088
Organisation Address. CA
Organisation Address. US

This is a copy of the letter they send.
---->>

February 2013


RE: OAKTREE Brokerage Services Virtual Agent Position Outline

Dear Prospective Life Agent:

Thank you for your response and interest in the OAKTREE Brokerage Services Virtual Agent Position. The following is intended to serve as an outline of our company and the life agent position currently available.

We ask that you review this document closely. After review, if you are interested in proceeding to the next step, please E-MAIL ME and we can set up a time to speak on the telephone, discuss the position in detail
and determine if theres a fit between yourself and our company. Here is OAKTREE Brokerage Services!

Company Background

OAKTREE Brokerage was formed in April of 1999. If you know your industry history, 1998-2000 was the peak time when nearly every major life carrier was looking towards the future to revolutionize how high-volume life sales could be made as simple and as fast as possible to accommodate what was quickly becoming the new buying style in which modern day consumers were beginning to buy all products and services (i.e. purchasing over the telephone and/or via the internet). In short, OAKTREE Brokerage was structured and built entirely for that purpose. Since our inception, all of our marketing, products, platforms, scripts, methods, etc. have been focused and designed around a non-traditional, non-field based selling method. We do EVERYTHING completely over the telephone, through e-mail and the internet and 100% of all selling, processing, underwriting, servicing, and so on is handled with our customers sight unseen. After nearly 14 years of pioneering and fine-tuning, today we have what many would consider a perfect system. We get our customers insured with very competitive, very recognizable brand name carriers FAST and with as little headache and hassle as you can possibly imagine, within 48-72 hours in nearly all cases. Customers get the coverage they need easily and affordably, we get paid fast and it just plain works.

We currently have 40 full-time agents on-site plus supporting staff and our management. Although we have a very solid core of In-House producers, we have and are able to consistently provide far more qualified leads than our current agents can support. Therefore, our current expansion plan is the virtual agent program being described.

Position

Even though youll be working with us remotely, it would be desired that you work very closely according to the agent parameters strictly in place that our current In-House agents observe. That said, its just all about production of course. Obviously, working remotely is going to offer you the highest level of schedule flexibility imaginable. We understand that. BUT, you have to make sure that you are consistently putting in the time, effort and energy to sustain adequate production. Here is the environment and resources you need to have available to you daily in your off-site location. Please note we have NO preference really whether your off-site location is a home office and/or if youre working from a current office location just as long as you have the following and can be productive. You need

Initials:_______________


A RELIABLE computer with a high-speed internet connection.

A higher volume e-mail account (i.e. an account with adequate storage to save all of your
correspondence, applications, etc. In most cases, you can simply upgrade your storage with most providers, if needed).


You need the ability to print, copy, fax and scan. A good Multi-Function machine from any office store
should work fine. Just keep in mind that you may be doing a good amount of scanning and e-mailing so it needs to be a machine/method that works smoothly.


RELIABLE telephone service ideally with unlimited long-distance. We sell OVER THE PHONE so clearly
youll be making a lot of calls.


Agent Licensing & Contracting Requirements


You MUST be current licensed and in good standing in at least your resident state (Non-resident licensing
requirements will be discussed on an individual basis).


It is suggested, though not required, that you have current Errors & Omissions insurance coverage with at
least minimum limits of $500K/$500K.


We will appoint you with our core carriers initially and additional carriers, as your product needs
determine.


Leads

ALL leads over the entire course of your affiliation with us that we supply are provided to you by OAKTREE
Brokerage at NO COST. The leads you will be provided will be Mail-back Life Leads, Internet Life Leads AND even OAKTREE Brokerage Book i.e. current and former clients with us that you can contact for new sales, policy reviews and up-sales including spouse policies, other family members, business coverage needs, etc.

Please note that of course we have very strict replacement guidelines to ensure appropriate primary policy replacement when needed. Generally speaking, we dont do very much primary policy replacement when working with existing customers for obvious reasons. Our inforce book is approached entirely from an addition/upselling perspective.

ONLY our best producing agents are given existing OAKTREE Brokerage clients as prospects. Beyond just being a good writer, we have to be sure at all times that ALL existing clients given as prospects are being handled properly.

All of this said, there is NO mandatory period of time that you have to be with us before we will give you existing OAKTREE Brokerage clients as prospects. You can get those clients as part of your weekly lead flow very quickly.

We just need you to convert when you get them and again we have to be able to trust youre working them
properly. In short mail-back leads, internet leads, existing client leads, etc. all are provided to you in abundance at NO COST. And, of course we always welcome any customers/prospects generated on your own to be written through us as well, assuming the products we offer are suitable for that customers needs. That is ALWAYS very much appreciated, though NOT required.

Compensation For ALL Virtual Agents, our range of commission is between 60-75%. All agents will start at the 60% level and commission increases will be based on the following 3 items:

#1 Consistent written production (8-10+ applications per week)
#2 Placement (70%+ expected, in line with current company levels) Initials:_______________
#3 Persistency (OAKTREE Brokerage currently enjoys very strong retention levels on ALL policy types)

Again, up to 75% commission, additional bonuses and incentives are available PLUS renewals on our permanent products.

ALL of our top agents in our office earn 75% commission. Also, please keep in mind that we are high-volume producers. You will receive A LOT of leads every week. We are NOT field-writers and NOBODY in our office or organization writes an average of 2-5 applications each week, as is common for most field agents. Its a COMPLETELY different ball-game here with us at OAKTREE Brokerage.

Annualized Commissions 75% up front

Average Sale - $80 per month/roughly $1,000 annualized.

Sample Calculation

$83.33 monthly premium sale = $1,000 annualized
$1,000 X *60% (starting individual commission rate) = $600 total commission
$450 (*75%) advanced/paid to you at issue. Remaining $150 paid as-earned to you in policy months 10,11 & 12.

Average 4-5 paid cases per week = Average $1,800-$2,250 per week minimum earning expectation.

ALL Non-Med cases (roughly 90% of our business) are issued and approved within 48-72 hours. Pay day is weekly for ALL agents, even daily with some carriers. And, you can expect to be paid within 7 days of your first placed application.


One Time, FULLY REFUNDABLE Program Enrollment Payment

PLEASE read this section closely. We are looking for quality, profitable production for both you and us by adding competent, hard-working agents to our ranks. With every agent we work with, train and get into production, it is our hope that you join us, stay with us and earn with us for as long a period of time as possible. It is extremely important that you understand. We are training agents and supporting agents with an exceptional and cost effective, modern selling model to work WITH US. This program/position is NOT just a lead program. This position is what we do. This is ALL we do and, quite frankly, even though were very good at getting the right producers on-board and into production quickly, theres still some real work to be done. This is for nearly every agent an entirely different and very unique, new way of doing business. Even the most seasoned and experienced agents who join us will need training and detailed instruction on how to sell in this style, process business in this manner, and so on. That all said, this is that better mousetrap finally and once and for all. Once youre up and running on our system, I can all but guarantee you that your days of jumping in the car and venturing out to see prospects that may or may not buy even though youve gone to considerable time and expense those days will be over. Also, while were on the subject of training and the overall program in general, I want to stress that what we teach you is very private, trade secret information not to be shared or utilized elsewhere. Clearly, this is an extremely valuable model and we want committed producers willing/able to make a modest and FULLY REFUNDABLE upfront financial commitment. This commitment is intended to insure all of OAKTREE BROKERAGES COSTS including all training, all training materials AND ESPECIALLY ALL OF YOUR LEAD COSTS THAT WELL BE PROVIDING WHILE YOURE WORKING WITH US. As we all know, leads are very expensive and OAKTREE Brokerage will spend considerably on your leads alone over the course of your affiliation with us.

*Program Enrollment Payment is $500 (Will be discussed in detail during our phone appointment)

Finally, your one-time payment is FULLY REFUNDABLE to you once youve placed your first *5 cases with us
totaling a minimum of $2,500 of annualized premium. When training is successfully completed and the refund

Initials:_______________ requirements are met, you will receive a company check in the amount of your full enrollment payment. This check will be considered a bonus award for the successful completion of the training program including meeting your initial production requirement.

Hopefully you see, as we do, that what were asking for is very reasonable. Clearly, the point is to get quality
agents into production and its NOT about the enrollment payment, as well be giving it back to you in full VERY quickly. You should have 5 cases paid within your second week with us. HOWEVER, again we will discuss this item in detail, as well everything else weve covered, as soon as we jump on the phone and have an opportunity to talk.

Thats everything! Again, if interested in moving forward to the next step, as I hope you are, E-MAIL ME at
and let me know youd like to set a phone appointment. I will contact you back
promptly with a proposed call time. Thank you for your interest and hope to hear from you very soon!!

Sincerely,

John A. Wintrob
Managing Partner
Lic. No. 87181

(405) 548-5242 Direct/VM
(866) 770-9328 Toll-Free
(866) 422-4436 Fax
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Old 05-09-2013, 11:02 AM   #2
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PICnic on Oak Tree Financial - Insurance Forum
 
Join Date: Jul 2010
Posts:575
State: PICnic is an Insurance Agent from California
Oak Tree Financial Re: Oak Tree Financial !SCAM!
I don't know their process but can speak to why they would require a "deposit." I don't read this as a scam at all---if you were an agent buying leads you would be paying that price anyway. That is just their way of weeding out the bottom feeder agents out there that are looking for the next easy "job."

If an agent comes on board with them, they are supplying the training AND leads? You think leads are free? Why wouldn't they want skin in the game out of the gate to know who they are working with?

There is more to this contract that you are not sharing in my opinion. Again, I don't know Oak Tree, never worked with or spoken too but it sounds like you are calling them out for not getting your $500 back after not really succeeding as an agent there. Again...just my opinion, and I think the others on the Forum will have the same views.

Nic

------------------------------------
www.DataRaptor.com
the (r)evolution of insurance CRMs. Coming soon....

EZLifeSales.com
Industry leading "Drop Ticket" solution
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Old 05-11-2013, 11:12 AM   #3
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Join Date: Aug 2010
Posts:191
State: scottstreet is an Insurance Agent from Undisclosed Location
Oak Tree Financial Re: Oak Tree Financial
Nick I think it's a SCAM. Not that the offer is unreasonable, just the opposite. If it was legit you would have heard of them. somebody on the forum would be recomending them ...etc

If you were making the offer on behalf of Pinney it would be different. People know who you and Pinney are...the craigs list advertizers not so much.
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Old 05-11-2013, 11:20 AM   #4
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WCMason on Oak Tree Financial - Insurance Forum
 
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Posts:1,263
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WCMason is a member of 1000 posts VIP club
Oak Tree Financial
Sounds like a typical captive agency recruiting pitch.
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Old 05-11-2013, 01:11 PM   #5
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Join Date: Aug 2010
Posts:191
State: scottstreet is an Insurance Agent from Undisclosed Location
Oak Tree Financial Re: Oak Tree Financial
The fanciful first year income projections sound like the typical captive pitch. But I don't know of anywhere that gives you the leads....even at a 60% commission.
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Old 05-13-2013, 10:51 AM   #6
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PICnic on Oak Tree Financial - Insurance Forum
 
Join Date: Jul 2010
Posts:575
State: PICnic is an Insurance Agent from California
Oak Tree Financial Re: Oak Tree Financial
Originally Posted by scottstreet View Post
Nick I think it's a SCAM. Not that the offer is unreasonable, just the opposite. If it was legit you would have heard of them. somebody on the forum would be recomending them ...etc

If you were making the offer on behalf of Pinney it would be different. People know who you and Pinney are...the craigs list advertizers not so much.

I agree--it very well may be a scam but I don't value the first post of an individual coming here to yell fire. I feel bad if these guys are legit and are unknowingly being called out online by a disgruntled ex sales guy. Oh well..just my opinion. I can see this as a very valid recruiting effort as many agencies are becoming better marketers and needing sales folks. Who knows--we at pinney may come to market with a lead and sales system like the one mentioned (no promises).
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Old 05-15-2013, 02:01 PM   #7
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Join Date: May 2013
Posts:4
State: Earshplitten is an Insurance Agent from Undisclosed Location
Oak Tree Financial Re: Oak Tree Financial Earshplitten is the thread starter for: Oak Tree Financial

Nick, take a look at the website for yourself.
Look at the "Email Quote Request".
Fill it out and see what you get back.
Nothing.
I'm not a disgruntled ex sales guy.
I never worked for them.
I did not send them any money after I looked into it further.
My initial post was copied and pasted from the Rip Off Report site.
I got the identical information, but from:
Oak Tree Financial (OTF)
otfcweb(dot)com
Said they were located in Utah.

Here was very good. Knew the insurance lingo.
Told me his partners name and they worked primarily with Fidelity Life and others. I called Fidelity Life and talked to a rep., asked they do business with and have the ever heard or do business with either of these two guys or OTF out of Utah and he said "No".

Also, Google : otfcweb (dot)com. It will tell you this:

Domain Name.......... otfcweb com
Creation Date........ 2013-03-28
Registration Date.... 2013-03-28
Expiry Date.......... 2014-03-28
Tracking Number...... 1789448472_DOMAIN COM VRSN
Organisation Name.... Emilie Ortiz
Organisation Address. PO Box 61359
Organisation Address.
Organisation Address.
Organisation Address. Sunnyvale
Organisation Address. 94088
Organisation Address. CA
Organisation Address. US

Compare this to the one from Rip Off Reports in original post.





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Old 08-15-2013, 07:03 PM   #8
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Join Date: Aug 2013
Posts:6
State: thesunnyone is an Insurance Agent from
Oak Tree Financial Re: Oak Tree Financial/ Avian Life
I just hung up phone with "Robert Taylor", received the sales pith told me their main carrier was Mutual of Omaha, AIG, and American National.

Wanted to get me up and running, etc. as soon as possible. I went to "Ripp-off" reports and yes as sure as the sun comes out their speal was there.

I also then told him I didn't have the $500 to take off my card he then said let me get $250 now and $250 later. Not a good sign.

I then checked the anaylitics and saw very few people visit their site, in fact DISMAL, so...........no shot.
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Old 08-15-2013, 09:07 PM   #9
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onefastpony on Oak Tree Financial - Insurance Forum
 
Join Date: Mar 2012
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State: onefastpony is an Insurance Agent from Florida
Oak Tree Financial Re: Oak Tree Financial
Please do not confuse this post with a very LEGITIMATE COMPANY in Virginia, Oaktree Brokerage. Web address is www.oaktreeus.com

This is a very LEGITIMATE COMPANY. They happen to handle my life sales except my FE which I put through EFES.
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Old 08-15-2013, 10:10 PM   #10
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mustfastpitch on Oak Tree Financial - Insurance Forum
 
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Oak Tree Financial Re: Oak Tree Financial
Originally Posted by onefastpony View Post
Please do not confuse this post with a very LEGITIMATE COMPANY in Virginia, Oaktree Brokerage. Web address is www.oaktreeus.com

This is a very LEGITIMATE COMPANY. They happen to handle my life sales except my FE which I put through EFES.
Yes, Oaktree Brokerage in Virginia is one of the better ones.

I WOULD NOT do business with anyone advertising on Craigslist! I think anyone that does gets what they deserve. ha

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God Is Great, Beer Is Good and People Are Crazy.
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