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Transferring DI/LI to new agent

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  • Transferring DI/LI to new agent

    Hi there,

    Question about DI/LI agents. I just left my financial adviser to DIY invest (thanks to WCI, POF, et al). My former adviser was my agent for DI and LI policies though, and my question: What sort of incentives are there for a new agent to take on my policies? I vaguely recall there was some sort of stipend for the DI policy.

    Is finding a new agent for these things difficult? Anyone have experience with this?


  • #2
    The agent you transfer the policies to will receive any trail commissions, if any. Trail commissions are meant to be an inducement to service policyholders. Unfortunately, service is not a high priority for many agents/advisors, nowadays.


    • #3
      Thanks for the insight and the vocabulary. Trail commissions. I can see why it wouldn't be a priority, not a whole lot of financial incentive, not like selling a new policy. Thanks.


      • #4
        I know this is an older thread but figured I would answer anyway.

        Most of the carriers have service fees or renewals but they are typically vested so the original agent will still get them.  However, most of us will still take you on as a client (Agent or Record change) for 2 reasons. 1 if you ever need anything else hopefully you will turn to us first and 2, it is simply the right thing to do.  My suggestion would be even though you are deciding to do the DIY on your investments talk to your broker to see if there is still a relationship to salvage and if you both comfortable with it then stay put otherwise speak to some reps to see who seems to be a good fit.

        If we can help, let me know.
        Scott Nelson-Archer, CLU, ChFC
        281-770-8080 Direct / [email protected]


        • #5
          WCICON24 EarlyBird
          Thanks Scott!

          Good reminder, as I have actually sort of let this sit for a while. I appreciate the insight into what seems like a rather mysterious process. I appreciate that agents are mindful of doing the right thing, but I like to know where incentives are so as to get a sense of why people do what they do.

          I will probably be looking into this sooner or later, and will keep your contact info in mind. Thanks again for the reply.