Easiest Insurance Firm to Transfer Book Over

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Jan 9, 2009 12:46 pm

So it turns out that the manager who offered me a position at Mass Mutual just got relocated into a far away city. I'm looking for another insurance firm where I can start building a book of business and chances are, I'd probably stay there for the rest of my career. However, there is also the chance that I would want to go independent in 10 years, I'm looking for the EASIEST firm to transfer my entire book, service my clients, get all the trailing commission. Thanks!

Jan 9, 2009 3:34 pm

Waaaaait a minute. You mean to tell me there isn't another manager in that agency who won't hire you/be a good mentor?



Something doesn't add up.

Jan 9, 2009 3:47 pm

No place is easier or harder than the other as long as you're a) not selling proprietary products and b) registering mutual funds directly at the company rather than within a brokerage account. (Change of broker of record form rather than ACAT, which may incur a fee.) I can't think of a single financial company in existence with a clear existence 10 years in the future. Everyone is subject to merger, acquisition, bankruptcy, spin off or elimination of your division, etc., etc., etc.

Jan 9, 2009 4:49 pm
deekay:

Waaaaait a minute. You mean to tell me there isn't another manager in that agency who won't hire you/be a good mentor?

Something doesn't add up.

 
Let me rephrase that, the ENTIRE agency merged with a bigger one in a more distant office because their production was low. I interviewed with the other office and got the job offer from them, so my original idea of going with Mass Mutual is out the door.
Feb 19, 2009 10:45 am

As long as you are not a captive agent morst firms will have the same process. The key is not to get involved in propietary products. Builiding your book as an Independent may have benifits to consider.

Feb 19, 2009 11:23 am

BZZZZZZZZZZ - wrong.  Mass Mutual and Guardian will allow their insurance products to be brokered.  So, if you started as a career agent and decided to go independant, you could hold onto your clients.

Feb 19, 2009 2:07 pm

How can you be an independent broker if you offer proprietary VARIABLE products that are specifically "in house"?

 
You can be DETACHED from your agency, but you can't leave the B/D and continue to service the proprietary variable products.