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Broker/Dealer Recommendation
Posted: Fri Oct 26, 2007 10:44 am
by mattbalt
What Broker/ Dealer would you recommend for an insurance agency? I do IRA's, 401k rollovers, and investments for me clients. I would appreciate info on Broker/ Dealers that are affordable with reasonable GDC requirements.
B/D
Posted: Fri Oct 26, 2007 1:02 pm
by wlunday
Mattbalt,
I had my B/D with Lincoln National Life for 20+ years. I enjoyed being a life insurance agent that had access to an excellent B/D like the Lincoln, but after they bought CIGNA in the 90's Lincoln started on a path of focusing on "high-end" prospects and clients. They wanted a field force of fee-based planners, and didn't really care much about the small-town multi-line agent like me... We parted ways in '04 and I asked Ohio National to be my B/D.
In my opinion, Ohio National offers everything and more than The Lincoln. And, they have very reasonable production requirements as well as an excellent portfolio of Life and DI products. As a mutual company they work for the customer rather than a stockholder. This is a refreshing experience.
Depends on where you are, but if it's the lower 48 (except NY) I think you should visit with a ONFS person to see if they fit.
Good Luck.
Wayne Lunday, LUTCF, CLU, ChFC
Castle Rock, WA