FMO Advice

[FirstTimer]

I'd like to sell Medicare plans and I'm trying to select the best FMO…there's a ton of them. I'll be doing business in Tampa Bay and surrounding areas and will need "new agent" support and training. I understand Medicare can be tough to get started in because of the marketing cost and delayed commissions, but I am "retired" from a prior career and can sustain through it. Based on my research, I am considering PIMSCO, Pinnacle, PMS, Ritter, TR King, and David Dufford (I realize he's primarily FE, but I'm a big fan of his training materials and genuineness). Any / all recommendations/considerations is appreciated.

 

[Newby]

I'd like to sell Medicare plans and I'm trying to select the best FMO…there's a ton of them. I'll be doing business in Tampa Bay and surrounding areas and will need "new agent" support and training. I understand Medicare can be tough to get started in because of the marketing cost and delayed commissions, but I am "retired" from a prior career and can sustain through it. Based on my research, I am considering PIMSCO, Pinnacle, PMS, Ritter, TR King, and David Dufford (I realize he's primarily FE, but I'm a big fan of his training materials and genuineness). Any / all recommendations/considerations is appreciated.

Of those Todd King and Dave Duford are going to be the two to look at. I'm not sure how involved Dave is with Medicare though.

 

[Chazm]

If you need training, find a local gig. Any of the places above can get you going and teach you medicare plans. But the toughest part of the business is the marketing aspect.
How do you plan on finding clients?
You need to talk to 30-50 people a month to make any money.
100% of the 90% of agents who fail in the first year have no idea how to do that.

 

[FirstTimer]

Chazm, I see you're in Orlando. Are there any agencies you know of / recommend around Tampa? To answer your question, I was going to spend most of my early marketing dollars on direct mail and hit the bricks on weekends at local events throughout the area. Ultimately, I'd like to start creating social media content targeting prospective demographics w/ links to "learn more", and do seminars / education. As far as making money goes… Don't expect to make much early on. Figure it's the cost of doing business if I want to go solo.

 

[FirstTimer]

Of those Todd King and Dave Duford are going to be the two to look at. I'm not sure how involved Dave is with Medicare though.

Appreciate your response. Dave typically wants his agents to start in FE and then transition to MA if they would like. I spoke to one of his people briefly; he said most can't float the marketing along with the delayed commissions, hence the approach. At that time, they did not sell supplements either; only MA.

 

[rmhaire]

Double ditto on what @Chazm said.

But if you need training and you're in Tampa you might as well stay local. Call Joe Ciaccio at CiaccioCrew.com. He's got what you need.

If not going local, I recommend Todd.

 

[Chazm]

Appreciate your response. Dave typically wants his agents to start in FE and then transition to MA if they would like. I spoke to one of his people briefly; he said most can't float the marketing along with the delayed commissions, hence the approach. At that time, they did not sell supplements either; only MA.

I don't know anyone in Tampa, but Ryan Travers at Better Place Insurance group works out of Lakeland.
It sounds like you have some marketing ideas that could work. I say nix the direct mail idea and go hard on educational seminars and webinars.

 

[DonP]

I'd 100% go with a hard core mapd shop . Neishloss and Fleming , Gordon marketing , premier marketing , Ifg . You need heavy training and marketing coop . You think I'd be selling mapd at $100 right now without my leads paid for . To master Medicare is long and hard . You need to be able to pick your overriderers brain day and night . Be able to call him when your in a house .

 

[Newby]

Appreciate your response. Dave typically wants his agents to start in FE and then transition to MA if they would like. I spoke to one of his people briefly; he said most can't float the marketing along with the delayed commissions, hence the approach. At that time, they did not sell supplements either; only MA.

Yes, that's the same as us at FexContracting. We don't usually bring on agents who want to lead with Medicare unless they are already doing it successfully and just want to learn to add FE. We think the lead with FE and cross sell the Medicare makes MUCH more sense.

Dave was with us at FexContracting during his early years and thinks in similar ways about a lot of this. Except the part about not selling Med Sups. I'm not sure why he would chose to not sell those. They are the easiest ones.

The biggest obstical for Medicare Advantage agents is getting in front of people compliantly. FE agents are in front of the right people all year long. They already have the base.

 

[FirstTimer]

Yes, that's the same as us at FexContracting. We don't usually bring on agents who want to lead with Medicare unless they are already doing it successfully and just want to learn to add FE. We think the lead with FE and cross sell the Medicare makes MUCH more sense.

Dave was with us at FexContracting during his early years and thinks in similar ways about a lot of this. Except the part about not selling Med Sups. I'm not sure why he would chose to not sell those. They are the easiest ones.

The biggest obstical for Medicare Advantage agents is getting in front of people compliantly. FE agents are in front of the right people all year long. They already have the base.

That all makes sense. Thank you.