Ritter or Senior Market Sales

[GreenSky]

Not sure if I'm missing something here or not. I have been getting appointments through Senior Market Sales. I have never signed any contract directly with them though, only the companys I am getting appointments with. What's to stop me from walking away from SMS?

~Jeff

The contract you NEVER signed. It's an agreement between the FMO and the company that you must wait 6 months (MoO is 12 months) before you can be reappointed.

One of the dirty secrets in this industry.

You can walk away, but they get to keep you "captive" until you get past the release period. SMS did give me a release when I requested it though.

Rick

 

[mr_jpt]

Thanks Rick!

 

[Norwayguy]

The contract you NEVER signed. It's an agreement between the FMO and the company that you must wait 6 months (MoO is 12 months) before you can be reappointed.
Rick

Its 6 or 12 months of Non-Production Rick I know you know this I just wanted to be sure the person reading was its more than just saying I want a release...if the marketer won't release you and you truely don't want to work with them any longer then you in essence have lost that carrier for 6 to 12 months.
This is mainly an issue is the annuity and health markets...most life carriers allow dual contracting meaning you can get a second contract and writing number from a new marketer and depending on what number you use determines who is the upline on the business.

 

[maniacagent]

I believe Ritter's Blue Cross contract assigns all commissions to Ritter, NOT YOU. Isnt that enough to go direct????

 

[senior-advisor-indiana]

I didn't know Ritter's Anthem contract was like that until I got paid from ritter this month. Scary how those details could slip by.

 

[bourbonlegend]

SMS is the only FMO I've ever been pissed off at.

I signed up with gpm life with them. The guy told me that I would have to take a 20% contract. I took the contract without arguing about it. I wrote 12 policies the first week and I half I was with them. I called my guy back and said "listen, clearly we mean business over here. I would like to market your product but I can't do it at 20% commission. Can you work with me with a couple of pts?" (I have producing agents to contract). Long story short, he told me to go SH&^ in my hat.

We have now put almost 65K ap with Loyal since then when I told the guy it could have all went to SMS and GPM.

Very shortsighted and I know there was room for bigger contracts but they are greedy IMO.

I almost forgot- I ran out of the supplies they sent me (3 apps) 2 days after I got them in the mail. I called SMS and asked them to overnight me a bunch since we had many appointments to go write business that week. He told me they can't do that and I'd have to print copies of applications on my own printer and wait the 2 weeks gpm was backed up getting supplies out.

Those guys left a very bad taste in my mouth.

 

[IMO101]

I have never worked directly with SMS, however I know of an agent who has been trying for two months to get released by them, and so far, they have refused. He has tried everything, but no luck. Maybe this is an isolated case, not sure, but he has had a negative experience based on this issue. He has no debt with them, and nothing else that would seem to justify the hold up.

Ritter has a solid reputation, I have always heard positive things from all agents I know who have worked with them.

When agents ask us for a release, which is rare, we generally provide them within a day or two. Our job is to make sure they don't want a release. If they do, obviously we need to work harder, or there may be a personal reason for the request. Either way, holding someone up over a release has never made sense to me.

 

[DMAC]

I have had a good experience with SMS paying commissions where the carrier couldn't. They are trustworthy.

 

[KimPMG]

It is only logical to grant a release when an agent asks for one. If you don't the agent gets angry (posts it on the forum) and refuses to ever work with you again. I'd rather let someone go today and have a chance to gain business in the future than make a point and lose all hope of anyone trusting me again.

 

[craig_ritter]

I didn't know Ritter's Anthem contract was like that until I got paid from ritter this month. Scary how those details could slip by.

SAI,

All Anthem GA's and FMO's are required to pay downline agents. I'd prefer not to administer commissions. I'm hoping that Anthem will pay broker's directly in the future!

I do have details on how I administer commissions in my Anthem contracts on pages 7-9. Here is a link to the current contract (requires authentication).

I hope you don't feel we misled you on this. I certainly don't mean to hide the fact that we pay the commissions. We do spend a considerable amount of time processing business, following up on policy issue and follow up on commissions, so there is some value to have an administrative team scrubbing and tracking policy issue and commissions. Regardless, I wish they just paid direct.

Craig