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Advice on an indépendant situation

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Apr 9, 2013 10:18 pm

So I was cut from a wire house program in the fall, but now I have an opportunity to team with an independent insurance agent who has 500 clients and is close to retirement. I think its a great opportunity to have a guy share his network with me, and possibly take over one day. Its a good set up, basically has an office in an stodgy old downtown club.

My idea is to renew his older life insurance policies, and cross sell annuities, and then possibly offer financial advice/other investments one day. Make individual appointments, and give seminars.

All my licensees are still current, and moving my insurance stuff to his shop, or whatever they call it is easy. My securities licenses also, but that will raise him E&O premium I believe. BUt I can wait until I am producing before moving them, i have 2 yrs.

But when I do, whats the bets set up for this type of thing?

1.) Should I get my 65 as well, or is will my 7 and 66 be fine to sell annuities and then comprehensive financial products later. ?

2.) What B/d is good, with low minimums etc…

Obviously compliance is an issue too, so any other suggestions are welcome.