Secrets of Insurance Sales: Sell Our Crap, We'll Pay You Back
If you don't quite understand what's behind the Department of Labor's current push to decrease conflicts of interests within the financial services industry, perhaps this e-mail I just received will give you an idea.
Basically, this company (an IMO) will reimburse insurance agents for their marketing expenses...but only if they sell certain products that pay commissions. As always, no mention of the client's best interest.
What's behind your broker/agent's recommendations? #IncentivesMatter
Scott Dauenhauer, CFP, MPAS, AIF