Release Question - FMO Vs. GA

[NYBernie]

A lot of posts about releases, but I couldn't find an answer to this one. Probably depends on the carrier, but I'll ask anyways. Is this how it works:

FMO#1 --> FMO#2 = only need an FMO release

FMO#1/GA#1 --> FMO#1/GA#2 = only need the GA release

FMO#1/GA#1 --> FMO#2/GA#2 = need a FMO & GA release

Carrier could care less and is not involved?

Thanks!

 

[NYBernie]

Sorry, that was confusing. An example:

If I contract with an MGA, who is under Neishloss and Fleming, and later on want to go direct with Ritter, is it possible? This would be for Medicare business, let's say Aetna as a hypothetical.

 

[CALTCAgent]

Sorry, that was confusing. An example:

If I contract with an MGA, who is under Neishloss and Fleming, and later on want to go direct with Ritter, is it possible? This would be for Medicare business, let's say Aetna as a hypothetical.

Do you have an open release agreement in writing and signed ?

If not, probably not.

 

[NYBernie]

Do you have an open release agreement in writing and signed ?

If not, probably not.

Thank you. Do I need a signed release from both the MGA and Neishloss & Fleming?

 

[Newby]

Usually the guy directly above you will be the only hold up. But if the agency above him is a big IMO that has a no release policy they will stop all releases (See: NAA, Amerilife, NASB, etc. )

But even if you go with an agency that is known for releasing (See: FexContracting, 360, Todd King, etc.) if you put someone in the middle of you and them, you will need to verify his release policy. Just because the main agency releases, doesn't guarantee your middle guy will.

 

[CALTCAgent]

Thank you. Do I need a signed release from both the MGA and Neishloss & Fleming?

Did you get one already ?

If not, you have to ask them to release, with no production, company policy may allow without their permission.

Going forward, never go by what they say. Get it in writing, if they say it, it is worth the paper it is written on.

Not talking about people that say publicly what they do on this forum. Because that is fair and you at least have that to point to should you see greener pastures. That being said, if not in writing, it is their discretion still.

Try not to burn any bridges, as you may want to come back. I know I have wanted to leave, the situation changed at the new FMO and then wanted to come back.

 

[NYBernie]

Did you get one already ?

If not, you have to ask them to release, with no production, company policy may allow without their permission.

Going forward, never go by what they say. Get it in writing, if they say it, it is worth the paper it is written on.

Not talking about people that say publicly what they do on this forum. Because that is fair and you at least have that to point to should you see greener pastures. That being said, if not in writing, it is their discretion still.

Try not to burn any bridges, as you may want to come back. I know I have wanted to leave, the situation changed at the new FMO and then wanted to come back.

I haven't signed up with anyone yet. I will be this coming week. I've contacted Ritter, SMS, and N&F for large FMOs. Also looking at a local MGA that I believe uses all three - meeting with them on Monday to ask a bunch of questions. My end goals are always in the front of my mind, as I'm not a "one-step at a time" type of person.

Thanks for your input!

----------

Usually the guy directly above you will be the only hold up. But if the agency above him is a big IMO that has a no release policy they will stop all releases (See: NAA, Amerilife, NASB, etc. )

But even if you go with an agency that is known for releasing (See: FexContracting, 360, Todd King, etc.) if you put someone in the middle of you and them, you will need to verify his release policy. Just because the main agency releases, doesn't guarantee your middle guy will.

Thanks for the input Newby!