20% to become a loan officer? is this a rip off?

[florida man]

hi

I will tell you what i did. I went to work for a broker and of course spent A LOT of time on a broker blog. My broker gave me everything, and a 40-50% split. All i did was send the mailers out and answered the phone. He paid for it all -except my licence. In fact, he actually forked it out of his own pocket and i paid him back. Great guy.

Try to find a FRIENDLY place where people look happy. Not stiff suits and clip on ties, wound up so tight they are ready to snap. Honestly, i worked for 2 shops, one for 3 days of cold calling, then the next for 2 weeks of BS telemarketed 'leads' -which were JUNK. Then i found my aforementioned broker. 3rd time lucky i suppose.

cheers

[Thills]

Jim,

You would be referring to Hubert Humphrey and company. Yes, WMA was purchased by Aegon and changed there name to the World Leadership Group (WLG) and also formed WFG, World Financial Group. They backed off selling the VUL so heavily and moved into the Mortgage market heavily pushing option arms and such. They are the 1 in the same company. Some people like the concept, but sompe people are idiots as well. However, Douglas Andrews book Missed Fortune is a good read. Read the full version not 101 if you want to understand what he is presenting. Rick Edelmans book or DVD's aren't bad either, just make sure you understand the concept of equity repositioning and equity managment before preaching these techniques to your clients.

As far as the topic of the thread, if you are just starting out, go to work for a finance company or Wells Fargo as they have the best training, when you are comfortable move onto becoming a broker with a normal split.

Best of luck to you.

Tim

Originally Posted by jimswainbbmc

About 10 years ago there was a group of leaders that split off from AL Williams/Primerica that called themselves World Marketing Alliance. I am wondering if this is the same thing in its evolved state. Anyone know anything?

[jimswainbbmc]

Thanks Thills!

[midas]

you guys are mixing up 3 different companies, wma sold to aegon and was renamed wfg (worl financial group) they focus mainly on a vul product from wrl or pacific life. they made a business merger with comunity lending last year to create a more uniform outlet for there mortgage production. freedom equity group is an insurance imo that has hooked up with a midwestern bank to fuel their mortgage market. wlg (world lending group) or "equity funding" is the new mortgage based company started by hubert humphrey after selling wma to aegon for $16,000,000,000 all of them pay about 20% to start and focus more on recruiting then production. MFG is a mortgage based banker/broker that operates in all 50 states and pays 70% to start and has a dynamicly tierd pay structure to offer an inncentive for the lo to recruit other mortgage professionals. check out the information at www.MFGopportunity.com you can also try out the loan finder search engine at www.MFGvlo.com username and password are govlo. Midas Financial Group is always hiring 866-944-3065 www.askmidas.com