How Complicated is Transferring Contracts Between MGA's

[John Bellamy]

Hi! Everyone. I contracted with this MGA or rather a GA that works for an MGA and he is really pretty worthless. I know IMO's can be hard to contact and flaky, but this guy told me twice he was going to call at a specific times and has not. He will not reply to emails and when I became firm with him as to our position on Friday he said we would talk about it today. Of course he never called and he is avoiding telling me my exact commissions and seems to be alluding a penning down of any kind. I obviously will not want to work with him going forward and would love to tell him this.

How hard is it to transfer contracts with carriers. I guess I'm asking if I can just start with an MGA, fill out their contracts and notify the carriers I will be under a new MGA and hopefully avoid another 3 weeks of waiting?

The carriers are UHC, Gerber and MOO for senior products. I DO NOT want to do UHC's training again. It was painful.

BTW, I have not written any business for the VMO, because the *** has barely provided me with my writing numbers a week after they were given. Actually he didn't even do that, I got them in the mail yesterday. He is really busy taking on more recruits than he can handle apparently, though I can posit one is more than he can handle.

I am really running out of time financially, have not been able to write anything... I can't afford to wait, but I will if that means I get a partially attentive agency with decent contracts. I am committed. I will succeed despite having a couple dollars in my pocket right now and whose only salvation is an 8k check coming from the irs in a few days.

A bit of a side note:
To all you GA's that recruit and do the bare minimum to get an agent under you to feed off them like the lecherous failed- salesmen and women you are, I and other younger, skilled sales people who have nearly been fodder for your machine of churn and burn, will be replacing you in the coming years and will laugh as you go off into other careers, like Home Depot or Wal- Mart. The time for recruit and cash- in is ending and your lack of production will become noticed. I think you can think of the two words I would use to sentimentalize my feeling for you as thus: Two words that begin with f and end with u!

 

[ksigmtsu]

Its really easy to switch FMOs if you haven't written any business and don't have any unpaid advances. Just fill out a new request to contract, you typically don't need a release.

 

[Norwayguy]

There is no easy answer to your question. You did not mention the MGA and since you've had trouble with finding out commission amounts I'm inclided to think you might have assigned commissions to the agency which is normally always a bad thing. Some carrier will allow for dual appointments in which case moving that contract would be as easy as doing the appointment paperwork again others have an agreement in the FMO contracts not to honor moves within FMO heirarcies without either a written release from your upline or a lack of production for 3,6,or 12 months.

This is a common lesson agents learn in this business is that most FMO/IMO/BGA whatever you want to call them are recruiting machines only interested in getting under contract and hope you produce something...To be fair they don't want to spend too much time on any one prospective agent because they know 80% will probably never submit a piece of business...Since the carriers you listed seem to be Med Supp carriers you might want to reach out to Frank Stansy on this forum he has been writing Med Supps for 17+ years and offers help to agents and decent contracts.

 

[John Bellamy]

No, the contract is kosher. I can't appoint directly with a carrier as a MGA for 6 months, but there is nothing else binding. Commissions are not assigned. I was just worried about going through the bg checks and all over again.

Thanks.

 

[Josh]

No, the contract is kosher. I can't appoint directly with a carrier as a MGA for 6 months, but there is nothing else binding. Commissions are not assigned. I was just worried about going through the bg checks and all over again.

Thanks.

Do you have something you're hiding? Odds are it's not that hard, depends on the carriers though.

 

[John Bellamy]

Yeah Norway guy you are right, there are lessons to be learned, but it is very difficult to find a decent FMO right now; maybe it always has been, but I don't need my hand held. I just need the contracts. My problems I have had with this FMO is that they wont tell what's going on as far as my appointment and won't give me what I need to write. Namely my writing numbers.

I've contacted some of the gurus on here that offer contracts and they either don't get back to me or I'm on hold for 30 minutes. I don't want to sound like a whiny Prima Donna that thinks he needs preferential treatment because he is so fab; I just want contract writing numbers within 3 weeks and someone to be straight forward. "Gee John, you know I'm just not ready for you. Give me 'til ______."

I mean this guy told me twice he was going to call and go over contracts and their site where I can find my information. The first time I was like okay he got busy and forgot, I cut him slack. The second time, today I'm like this isn't going to work. Fool me once shame on you, Fool me twice shame on me. What if I really needed his help on a big case or something? It would be the same thing.
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Do you have something you're hiding? Odds are it's not that hard, depends on the carriers though.

Well i kind of do have something to hide. My mortgage was late last month and I was late on a credit card payment. Those are going to be on my report. I don't know if I would pass a credit check again; plus as I said before, I would rather not wait 3+ weeks again for all the checks. (Background, credit, etc.)

 

[captain94]

Carriers often mail you a copy of the signed contract with commission schedules. did you not get one in the mail?
When I contract I often have to sign a copy of the commission schedule. Is there something your not saying?

You can call the carrier direct and go to commission dept and they will tell you what your percent is and what advance you are on.

"I am really running out of time financially, have not been able to write anything..."

If your not writting business and calling him 2 to 3 times a day that would explain why he isnt calling you back. Its a tough reallity in this business. Producers get prority its not personal. Good Luck

 

[Josh]

Well i kind of do have something to hide. My mortgage was late last month and I was late on a credit card payment. Those are going to be on my report. I don't know if I would pass a credit check again; plus as I said before, I would rather not wait 3+ weeks again for all the checks. (Background, credit, etc.)

If that's it, you might not be as poorly situated as you think. Carriers? Products? What are you looking for? Do you have experience, or was this a bit of a new venture?

 

[John Bellamy]

I understand your points when you guys say producers get priority. I AM NOT CONTRACTED FULLY. I am not to a point where I can actually write. I think you are missing that point. Second, you do not always get your commission statement from the carrier; you usually get it from the fmo.
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It is senior products. Med Supp, MA. United Healthcare and all their brands, MOO and Gerber. I contracted with another agency for Life, but I am new to life and want senior products to help cushion me and I like working with the population.

I have some experience. I started with a captive. I am good at sales and I can produce. I left captive because they make it almost impossible to succeed. I know Med Supp and MA inside out. I have a developed sales system and I love working with the senior population. They are appreciative of my attentiveness and care.

I have also not been moving too fast because I won't have funds until next week for marketing.

It is new for me, but I knew it would be hard. I had no idea the hardest part would be finding a company to work with. I am 29 and chose this as a career because several people told me I have a knack for sales. My last job as a retail merchandiser involved soft sales and I loved telling people about the products I believed in and transferring my passion to them.

 

[The Brokerage Resource]

You are not going to be able to Move your Mutual or Gerber contracts with out a signed release from your current upline and also his upline. You are going to have to wait 12 months to move your contract.

Have you called Mutual 800-693-6083 and asked them about how your set up and who you would need to get releases from?

We are one of Mutuals top 10 FMO'S but you really can not do anything for 12 months with out a written release.