Need Out from my IMO - but How?

Wow, that is terrible! What agency are you talking about so we can all avoid them???

Some companies call the advances when you terminate with them.

When I was with NAA the had a hierarchy terminatin with Boston Mutual. Boston Mutual called all the advances. Guess who was in charge at Boston Mutual?

He's in a sack at 1 star now.:D
 
It got ugly because a few of the execs left to join another IMO and tried to take a majority of the agents with them... Under normal circumstances I don't know if that is how it would play out. Makes me scared to leave. I feel the pain of the OP. -Asurea
 
It got ugly because a few of the execs left to join another IMO and tried to take a majority of the agents with them... Under normal circumstances I don't know if that is how it would play out. Makes me scared to leave. I feel the pain of the OP. -Asurea

The IMO can't call the advances unless you have assigned commissions to them. If no assignment it's up to the company.

I've heard that LH calls the advances upon termination of non vested agents.
 
Define assigned commissions? The commissions were being paid directly by the carriers...

Assigned to the IMO. In those cases the IMO pays the agent. If being paid by the carriers the commissions are not assigned.

You really should know what assignment means. And if you have done so.
 
Assigned to the IMO. In those cases the IMO pays the agent. If being paid by the carriers the commissions are not assigned. You really should know what assignment means. And if you have done so.

I am familiar with assignment just wanted clarification. There was a whole lot of mud flinging between to the two IMOs as some agents stayed and others left, but from what I was told a few of them had to pay advances back to the carriers.
 
Lol... When I began I thought I was independent. But it's definitely a captive brokerage, they don't allow outside contracts.

----------

According to the recent FEX blow out anyways... If you are truly independent you can contract with any IMO
 
Back
Top