Question on using DBA & working for FMO

[insurancedoc]

I am new in the business.

I have two questions which I am hoping someone can share their two cents.

One, is there any pros or cons in using a DBA or setting up an LLC for new agents? In my state of NJ, they are asking that question of, IF I will use a trade name or not. Does it really matter if I do DBA, LLC or just simply use my name?

Two, I came across the website of Randy Murray, owner of American Insurance Institute. They are a Field Marketing Organization(FMO). I understand Randy Murray used to be a very successful producer in the industry.

I was leaning towards affiliating with Tritus. But I just came across this company & wanted to get your two cents on this one.

Frankly, I am not familiar with how or the advantages of working with FMO's. ( that might need a whole new thread)

Thanks for any feedback

 

[GreenSky]

Frankly, I am not familiar with how or the advantages of working with FMO's. ( that might need a whole new thread)

That's a great idea. Perhaps someone will post the benefits of working with an FMO. I'd love to see that!

Sorry, I shouldn't pick on someone new to the business. Generally speaking, FMOs are an unnecessary evil. There are a few good ones but I would be a lot (or alot) happier if I could contract direct with every carrier with which I work.

Rick

 

[insuremojo]

Generally speaking, FMOs are an unnecessary evil. There are a few good ones but I would be a lot (or alot) happier if I could contract direct with every carrier with which I work.

Rick

True that! Hey Rick, how's golfing been lately? The weather has been fantastic here but I haven't been able to get out!

 

[smartweb2000]

Hi Insurancedoc,

I wonder if you ever decided to go with American Insurance Institute-Randy Murray ? Or who you went with. I am looking for a IMO/GA that does good processing and good commission. The company I am with do not allow me direcct contact with the carriers and I am looking for a company that will allow me the ability to get my life insurance process and close quickly as possible.

 

[InsuranceNewb]

Smartweb,

Send me your information through Private Messaging to contact you.

 

[tomstrickland]

I am new in the business.

I have two questions which I am hoping someone can share their two cents.

One, is there any pros or cons in using a DBA or setting up an LLC for new agents? In my state of NJ, they are asking that question of, IF I will use a trade name or not. Does it really matter if I do DBA, LLC or just simply use my name?

Two, I came across the website of Randy Murray, owner of American Insurance Institute. They are a Field Marketing Organization(FMO). I understand Randy Murray used to be a very successful producer in the industry.

I was leaning towards affiliating with Tritus. But I just came across this company & wanted to get your two cents on this one.

Frankly, I am not familiar with how or the advantages of working with FMO's. ( that might need a whole new thread)

Thanks for any feedback

Work under name till you making 6 figure income. I like FMO if their good you will get great training and support.

 

[moonlightandmargaritas]

One, is there any pros or cons in using a DBA or setting up an LLC for new agents? In my state of NJ, they are asking that question of, IF I will use a trade name or not. Does it really matter if I do DBA, LLC or just simply use my name?

Your concern is misplaced.

If you don't find a way to acquire a steady stream of premium paying clients, it won't matter. Spend 100% of your time and focus on it.

You can worry about all the other infrastructure issues later.

 

[Josh]

Your concern is misplaced.

If you don't find a way to acquire a steady stream of premium paying clients, it won't matter. Spend 100% of your time and focus on it.

You can worry about all the other infrastructure issues later.

Great advice as usual.