The Best Recommendation EVERY TIME!

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We just had a case come in where the adviser requested applications forms, brochures, rates, etc. for an annuity—and wanted to get contracted with a carrier for the first time.  So I asked about some of the details of the case, like “is a transfer involved, and is this a replacement of another annuity?”

The adviser gave me the answers and some of the background on the case.

So, we went to work getting the information needed, and started the contracting process.  But, we also went ahead and checked to see if there was a better product for this case.  It turned out there was an annuity offered by another carrier that was almost exactly like the one the agent chose…but paid a higher agent commission.

We called the adviser and pointed out the minor differences in the two annuities and found that they were not important differences for what the client wants.  So, we were able to get the agent more commission for doing the exact same amount of work.

Here is why I am sharing this story…

95% of FMOs only recommend 2 to 5 carriers at the most.  Because if they only ever sell annuities for a few carriers, they get paid bigger FMO bonuses based on sales volume.  Here’s how that can play out…If the FMO annual production bonus for a carrier goes up a level for every $25Million of annuity sales, then most FMOs want to focus all sales to just a few carriers with the best bonus percentages.  If an FMO does $200Million in total sales—divided up between just two carriers—they would hit the 4th bonus level with each (assuming $100Million sales with each).  But if they spread that $200Million amongst sales for 10 carriers, they would not even hit the first level with any of them (if they only did $20Million with each carrier).

What this means to advisers is…95% of FMOs will never tell you about an alternative annuity from another carrier that will pay YOU more money, unless that carrier is one of their chosen few (and that is rarely the case).

At TWH we have a different philosophy.  We have found that we actually generate more revenue by making sure our advisers get paid as much as possible—and our advisers stay with us virtually forever.  Which means we don’t lose advisers every year, and then have to spend money on recruiting campaigns to replace them.  

So, rest assured that every time we do research to find you the very best annuity, you will get recommendations that maximize YOUR revenue, not just ours.

What Are You Talking About to Stay in Touch with Clients and Prospects?

What are you doing to keep communications open, sales coming in, and to set the stage for when face-to-face meetings can happen again.  What about coming up with new ideas to talk about on a regular basis to stay in touch with clients and potential clients?  Here are a few ideas our advisers are using in weekly and monthly communications like newsletters and emails:

  • Medicare plan reviews
  • College planning for kids/grand-kids
  • Estate liquidity & funeral coverage
  • Reducing market risk
  • Selling unwanted life policies
  • Creating tax exemptions on earnings/profits

Give us a call. We can help with resources on these and other topics to help you stay top-of-mind with people.


~ Greg Skogsberg



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