What is a Field Marketing Organization (FMO) and why is it such a big deal? Many agents are confused about how FMOs work and agents may not understand the appeal of a FMO. This list should answer some of your questions and help you understand what the hype is all about.
1. What is a Field Marketing Organization?
A Field Marketing Organization offers many benefits to insurance agents and strives to make their job easier. In the simplest terms, a FMO is a company that provides insurance agents or agencies with insurance products and marketing services.
Every FMO offers something different. Here at Senior Market Advisors, we offer many different marketing and sales benefits that will help you be the best agent you can possibly be.
2. What is the FMO’s responsibilities?
The main objective of a quality FMO is to provide excellent communication. This could be in the form of marketing to generate leads, or it could be sales training for the agent. Great communication is vital to make sure everyone is up to date with the various amendments in the industry.
3. What about compensation?
According to the Bureau of Labor Statistics (BLS), the median in come for an insurance agent in 2018 was $50,600. That means half of the insurance agents in the United States made less, and half of the agents made more.
How much you make is entirely up to you. We provide our agents with the tools to be top earners. Since we offer the highest possible contract levels available in the industry, we offer top-level commissions based on your production.
4. Why shouldn’t I contract through a carrier directly?
Some carriers will work directly with agents, however, many major carriers won’t work with you unless you partner with a FMO. Working with the right FMO gives you the opportunity to become contracted with multiple carriers instead of just one. In most cases, agents earn higher compensation rates with FMOs compared to contracting directly with the carrier. Plus, when working with an FMO you gain sales training and marketing support.
5. If I contract with Senior Market Advisors, what’s in it for me?
When you partner with Senior Market Advisors, you get top tier commissions, leads generated for you, and print mailers at a reduced cost (sometimes no cost at all depending on production). We offer marketing support and lead generation from an experienced team so you can focus on talking to people and making sales. Senior Market Advisors (SMA) provides agents with free CRM access so you can manage all of those potential, new, and current sales relationships. Our extensive training will arm you with the knowledge and soft skills that insurance sales requires.
Why do we offer these services? Jeff Pitta, our founder and CEO, was an agent just like you. He saw a need to serve the underserved Medicare-eligible population and he knew that in order to touch the most lives, he needed happy agents on his side. SMA is dedicated to giving you the tools you need to succeed.
6. What do I need to do to affiliate with Senior Market Advisors?
Now we hope you understand why contracting with a Field Marketing Organization is such a big deal! More money, more contracts, what’s not to like? Can’t wait to get started? eContract with us today and make Senior Market Advisors your home for success!
We want to hear from you. If you have any questions we didn’t answer in this blog, contact Senior Market Advisors at 1-844-452-5020 and ask to speak to an Agency Advisor.