Wouldn't it make sense for a group of top producers to band together and start an FMO to get the absolute top contracts available?
This FMO would provide zero services and hence take nothing from the agents in the form of an override. Seems like everyone who was on-board could benefit. Agents could get paid directly from the carriers so there would be nobody needed to disperse funds. Also everyone would be as-earned so there would be no chargebacks to insure against.
What am I missing here? Is there some insurance component, licensing requirement or some other logistical nightmare that
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This FMO would provide zero services and hence take nothing from the agents in the form of an override. Seems like everyone who was on-board could benefit. Agents could get paid directly from the carriers so there would be nobody needed to disperse funds. Also everyone would be as-earned so there would be no chargebacks to insure against.
What am I missing here? Is there some insurance component, licensing requirement or some other logistical nightmare that
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