A good fit in terms of culture and communication can make a big difference in your overall satisfaction. Consider:

• Communication frequency and methods: How often does the FMO communicate with its agents, and what methods do they use (e.g., email, phone, webinars)?
• Accessibility of leadership: How accessible is the FMO’s leadership team?
• Supportive environment: Does the FMO foster a supportive and collaborative environment?

This is arguably the most important question. You need to understand how you’ll be paid and what percentage of the commission you’ll receive. Inquire about:

• Commission splits: How are commissions split between the FMO and the agent/broker?
• Override commissions: Are there opportunities to earn overrides on the production of agents you recruit?
• Renewal commissions: What happens with renewal commissions on policies you sell?
• Chargebacks: Under what circumstances are chargebacks applied, and how are they handled?
• Payment schedules: How frequently are commissions paid (e.g., weekly, monthly)?
• Bonus programs and incentives: Does the FMO offer any bonus programs, trips, or other incentives?

A wider range of products and carriers can provide you with more options to meet your clients’ needs. Consider:

• Carrier relationships: Does the FMO have strong relationships with reputable carriers?
• Product portfolio: Do they offer the types of insurance products you want to sell (e.g., life, health, Medicare, annuities)?
• Exclusive products or programs: Does the FMO have access to any exclusive products or programs that could give you a competitive edge?
• Contracting process: How easy is it to get appointed with the carriers the FMO represents?

This can significantly impact your success. Ask about:

• Marketing support: Does the FMO provide marketing materials, leads, or marketing tools?
• Training and education: What kind of training and ongoing education do they offer (e.g., product training, sales training, compliance training)?
• Technology and tools: What technology platforms and tools do they provide (e.g., CRM, quoting software, online enrollment platforms)?
• Back-office support: What kind of administrative and back-office support do they offer (e.g., contracting, commission processing, customer service)?
• Compliance support: How does the FMO assist with compliance requirements and regulations?

It’s important to partner with a reputable and stable organization. Research:

• Years in business: How long has the FMO been operating?
• Financial stability: Is the FMO financially stable?
• Agent/broker feedback: What are other agents’ experiences with the FMO? You can look for online reviews or ask for referrals.
• Compliance record: Does the FMO have a clean compliance record?