Seeking career change advice

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Advisor
Insurance Journal Enthusiast
Posts: 24
Joined: Mon Feb 16, 2004 6:25 am

Seeking career change advice

Post by Advisor »

I am considering leaving the small agency I am with to go to a larger firm with a more specialized focus. I currently do many lines of insurance (Life, Health, P&C, etc.). The agency is run by nice people and there are no real problems, but I feel I am ready for a change and need to consider very carefully what step I take.

My primary question has to do with the financial terms of a departure. My book is about $1.5 million in premium across multiple lines (I do not have a dedicated assistant). Is it appropriate or customary to ask for some percentage of the gross commissions from that book as a sort of severance package? Is there a better way to approach leaving the agency with some financial compensation for the book I've created?

There is a non-compete agreement although I'm fairly certain they wouldn't take issue with me working in town. They know I wouldn't take anything from them. However, I like them a lot and don't want to create any bad feelings.

I know the subject of new people posting questions has been discussed and I will say I am fairly news to the business. I am still researching answers and information and so I greatly appreciate anything the forum members can offer. Thank you.
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