Is Charging an Admission Fee for a Medigap Seminar Non-compliant?

[Hiwaunis]

I am planning on doing a presentation on medicare supplements as well as other topics that are important to those t65.

I want to serve food, also. I will be mailing invitations to about 500 people t65.

In order to narrow my target market and have a better quality of prospects I decided to list the seminar as Free to those who RSVP by a certain date and charge an admission fee to those who just show on the date of the presentation. Of course I will let anyone in if there are seats available.

I am being told that I cannot charge a fee to Medigap prospects because the information is free. If I charge then I will be non-compliant and could possibly end up in jail.

Has anyone ever heard of this rule about not being able to charge an admission fee?

 

[djs]

I certainly hope there is a rule against it. I'm not an expert, so I don't know, but it seems wrong to me.

Why would I pay to be a salespersons prospect? Let me pay the car salesman so he can sell me a car. By paying him, I'm a better prospect???? I don't think so. I'm not sure where the logic is in this.

If you think about it, you are serving food to attract people. Then you are charging admission to get rid of the people you might attract. Seems like a strange way to do things to me.

Dan

P.S. I've never done these seminars, so there is probably a lot more to it then the way I read this.

 

[vic120]

You have had some Hmm Interesting posts (I guess you can say)Today.

Starting the weekend early?

 

[goillini52]

I am planning on doing a presentation on medicare supplements as well as other topics that are important to those t65.

I want to serve food, also. I will be mailing invitations to about 500 people t65.

In order to narrow my target market and have a better quality of prospects I decided to list the seminar as Free to those who RSVP by a certain date and charge an admission fee to those who just show on the date of the presentation. Of course I will let anyone in if there are seats available.

I am being told that I cannot charge a fee to Medigap prospects because the information is free. If I charge then I will be non-compliant and could possibly end up in jail.

Has anyone ever heard of this rule about not being able to charge an admission fee?

It's hard enough to get people to talk to you, let alone getting them to pay you to do so.

 

[Andle]

Starting the weekend early?

LOL ill take some of what he is having.

 

[GreenSky]

It probably is compliant.

It definitely is stupid.

Rick

 

[rousemark]

I certainly hope there is a rule against it. I'm not an expert, so I don't know, but it seems wrong to me.

Why would I pay to be a salespersons prospect? Let me pay the car salesman so he can sell me a car. By paying him, I'm a better prospect???? I don't think so. I'm not sure where the logic is in this.

If you think about it, you are serving food to attract people. Then you are charging admission to get rid of the people you might attract. Seems like a strange way to do things to me.

Dan

P.S. I've never done these seminars, so there is probably a lot more to it then the way I read this.

'Financial Advisors" charge for seminars all the time.. I received a mailing not long ago, wanting me to attend a seminar and the cost was $795.00.. I would think they also offered to sell insurance and investments to those who attended.

 

[tins]

I charge most people 25 cents/word for the privilege of talking to me…Rick will need to take out a second mortgage at the rate he's going.

 

[somarco]

I attended one of those seminars several years ago as a guest of one of the presenters. As I recall, there were 2 insurance agents, an attorney and bank trust officer.

This was an estate planning seminar for high net worth people. Invitees had a minimum of $10M net worth and $3M liquid.

I don't recall what the admission price was but there were about 30 people in the room. The presenters did 5 of these meetings every year.

 

[rousemark]

I charge most people 25 cents/word for the privilege of talking to me…Rick will need to take out a second mortgage at the rate he's going.

Start up a conversation with Bob Barney and then you can retire....