Tell me about annuity FMO seminar 'systems'

al3 · 06-15-2007, 10:32 AM

I look through Senior Market Advisor magazine and there a a zilion full-page ads for FMOs asking me to sign up with them and use THEIR seminar. What's the story here?

1. Can you only sign up with ONE FMO per carrier. In other words, can you sign with FMO-X for Carrier X and FMY-Y for Carrier-Y? Is there a reason to do this?

2. Does agent have to pay for the seminar materials? What do these seminar companies do for the agent? Mailings, etc? Do they charge reasonable rates for printing, mailing, etc? Are these companies making more on seminars and lists than selling annuities?

3. Are sales made through the FMO? Do they pay you? Or do you still submit to the carrier and they just get an override but you get a check from carrier?

4. Are these seminars copyrighted such that you can only use them in conjunction with the FMO?

I'm sure I'll learn a lot about this when I go to the Senior Market Advisor conference in Vegas in August... but I thought there might be someone here who might serve as a 'mentor' on FMOs, seminars, etc. and give me a 'leg up' before I go... so I'm not a 'babe in the woods.'

Thanks,

Al

senior-advisor-indiana · 06-16-2007, 02:19 PM

Usually you can go with FMO y for carrier Y and FMO x for carrier X. I personally have never done a seminar. I would probably have to drink some crown if I had to talk in front of 100 people. Although I could be missing the boat. One day I might get up the courage for a seminar.

indaville · 06-16-2007, 04:13 PM

I think each FMO is probably different on how they handle each of your questions. I get paid directly by my carriers and the FMO gets an over-ride but they give me marketing credits based upon production. With the seminars I run my FMO gave me the script and materials, I am part of a study group of producers across the nation, the FMO helps me determine who to market the seminars to, they provide the mailings and marketing materials.

I am on track to run around 60 seminars this year so let me know if you have any more questions.

Matt

Mr. Bill · 06-16-2007, 07:16 PM

Indaville - I am impressed! Part of my curiosity stems from your statement that the FMO helps you by providing the mailings and marketing materials. I thought we all got passed along to RME or whatever and paid for it ourselves! How did you get them to part with some seminar dough?

indaville · 06-16-2007, 11:06 PM

Originally Posted by Mr. Bill

Indaville - I am impressed! Part of my curiosity stems from your statement that the FMO helps you by providing the mailings and marketing materials. I thought we all got passed along to RME or whatever and paid for it ourselves! How did you get them to part with some seminar dough?

I pay for the mailings and the materials, however sometimes they are free b/c I earn marketing credits based upon production. Their marketing department helps me to only use things that work.

Matt

al3 · 06-16-2007, 11:10 PM

Originally Posted by indaville

I pay for the mailings and the materials, however sometimes they are free b/c I earn marketing credits based upon production. Their marketing department helps me to only use things that work.

Matt

Who is your FMO?

Al

indaville · 06-16-2007, 11:13 PM

Originally Posted by al3

Who is your FMO?

Al

Asset Marketing Systems

al3 · 06-16-2007, 11:17 PM

Originally Posted by indaville

Asset Marketing Systems

I went to one of their seminars here a month or two ago and was VERY IMPRESSED with them. They called me a few times afterwards but when I told them that I wanted to check out the field they stopped calling. I've never sold an annuity before so I can't expect that they are going to be too interested in me anyway.

Al

indaville · 06-16-2007, 11:24 PM

Originally Posted by al3

I went to one of their seminars here a month or two ago and was VERY IMPRESSED with them. They called me a few times afterwards but when I told them that I wanted to check out the field they stopped calling. I've never sold an annuity before so I can't expect that they are going to be too interested in me anyway.

Al

You never know. The business consultant I work with has several reps that are new to selling annuities. They also can help with life and LTC producers.

Matt

***Melmunch3*** · 05-28-2008, 09:04 PM

Looking for the Top Annuity IMO/FMO/MGA? This is it

padthaiforlunch · 05-28-2008, 10:31 PM

Originally Posted by Melmunch3

Looking for the Top Annuity IMO/FMO/MGA? This is it

hmmm. How did I miss that thread?

Freddie · 01-02-2009, 06:00 PM

Originally Posted by indaville

You never know. The business consultant I work with has several reps that are new to selling annuities. They also can help with life and LTC producers.

Matt

Has your consultant helped your business? How have things worked out with this FMO? I am looking at a bunch of them and trying to narrow my list. I have my licenses including a series 7, 24 and soon 66. I also have an office and moneyto market heavily. Thanks.

Charpress · 01-02-2009, 07:06 PM

Dang. I wrote a lengthy response because I wanted to help Al out. Then I noticed this thread is old as hell. I'm going to delete my rambling FMO advice. I'm just going to leave this advice: don't tack your posts on to threads that were started years ago, for crying out loud.

indaville · 01-02-2009, 11:44 PM

He has helped. PM me your info and I will give you my number.

Matt

Originally Posted by Freddie

Has your consultant helped your business? How have things worked out with this FMO? I am looking at a bunch of them and trying to narrow my list. I have my licenses including a series 7, 24 and soon 66. I also have an office and moneyto market heavily. Thanks.

Freddie · 01-03-2009, 12:09 AM

Originally Posted by indaville

He has helped. PM me your info and I will give you my number.

Matt

Matt:

I tried to PM you but I need 13 more posts to hit 30 posts. You cannot PM until you hit 30 posts???

I guess I can try to post a bunch of messages then PM you. . Weird.

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Originally Posted by Charpress

Dang. I wrote a lengthy response because I wanted to help Al out. Then I noticed this thread is old as hell. I'm going to delete my rambling FMO advice. I'm just going to leave this advice: don't tack your posts on to threads that were started years ago, for crying out loud.

Sorry dude if I did not follow protocol. I did not know. The feller did respond so it was worth a shot.

cloisbarton · 01-08-2009, 10:42 AM

Originally Posted by indaville

Asset Marketing Systems

Did you know Mark Lindsey and Ty Young when they where at Asset Marketing?
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Originally Posted by Mr. Bill

Indaville - I am impressed! Part of my curiosity stems from your statement that the FMO helps you by providing the mailings and marketing materials. I thought we all got passed along to RME or whatever and paid for it ourselves! How did you get them to part with some seminar dough?

There are several FMO's out there that offer marketing credits based on production. Some are better than others. There are FMO's that will just bump up your commission based on production, some that will just pay a portion of your marketing, and some that will do a combination of both.
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Originally Posted by al3

I went to one of their seminars here a month or two ago and was VERY IMPRESSED with them. They called me a few times afterwards but when I told them that I wanted to check out the field they stopped calling. I've never sold an annuity before so I can't expect that they are going to be too interested in me anyway.

Al

There are a-lot of consultants that are searching for the $1,000,000 plus producers. Find a consultant that will partner up with you and come up with a plan to help you become a successful advisor. All advisors had to start at the same point, a few just get really good help

BiggitySwat · 01-09-2009, 03:45 AM

Originally Posted by Freddie

Has your consultant helped your business? How have things worked out with this FMO? I am looking at a bunch of them and trying to narrow my list. I have my licenses including a series 7, 24 and soon 66. I also have an office and moneyto market heavily. Thanks.

Lol, why do you have a Series 24?

I guess this means you can be my boss?

indaville · 01-09-2009, 09:18 AM

Originally Posted by cloisbarton

Did you know Mark Lindsey and Ty Young when they where at Asset Marketing?

Yes, I mentored with Ty in Atlanta. Nice guy!

Matt

Freddie · 01-09-2009, 04:04 PM

Originally Posted by BiggitySwat

Lol, why do you have a Series 24?

I guess this means you can be my boss?

LOL! Sort of a legacy reason.

cloisbarton · 01-10-2009, 12:51 AM

Originally Posted by indaville

I think each FMO is probably different on how they handle each of your questions. I get paid directly by my carriers and the FMO gets an over-ride but they give me marketing credits based upon production. With the seminars I run my FMO gave me the script and materials, I am part of a study group of producers across the nation, the FMO helps me determine who to market the seminars to, they provide the mailings and marketing materials.

I am on track to run around 60 seminars this year so let me know if you have any more questions.

Matt

Is your average annuity sale average around $300,000?
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Originally Posted by Freddie

Has your consultant helped your business? How have things worked out with this FMO? I am looking at a bunch of them and trying to narrow my list. I have my licenses including a series 7, 24 and soon 66. I also have an office and moneyto market heavily. Thanks.

I have a few options if you want anymore.