(MENAFN- EIN Presswire)
Brett Blake, CEO of Annuity, Inc.
Annuity, Inc. Leads the Charge to End Restrictive Practices,
Advocating for Agent Freedom & Client Focus in the Annuity Industry
GILBERT, AZ, UNITED STATES, August 21, 2024 /EINPresswire / -- Annuity, Inc. CEO Brett A. Blake is taking a bold stand to reform outdated practices in the insurance and annuity
industry that restrict agents from freely choosing the Field Marketing Organizations (FMOs) they work with. Blake has launched a petition calling on his fellow FMOs, Life Insurance Carriers, and State Insurance Regulators to eliminate restrictive agreements that bind agents to specific FMOs, ultimately limiting their ability to serve clients effectively.
"Industry experts told me to 'leave it alone,' but my conscience says otherwise," said Blake. "We want to retain our agents because we're providing the best opportunities, not because they're trapped by restrictive agreements . Agents should be free to choose the organizations that best align with their values and the needs of their clients."
Tim Davis, President of Davis Capital Corp., strongly supports this effort: "It's shameful and worse what FMOs/IMOs are doing to hold agents hostage by refusing to sign releases to carrier contracts. Their actions are clearly a restraint of trade. The FTC and state Attorneys General should take action to stop this practice. I strongly support the effort of this petition to prohibit this practice."
John Stevenson, an agent from Nevada, shared his frustrations: "I've worked with several IMOs and all have promised to release me from my contracts, but when I actually wanted to leave and go to another organization, they would not hold true to their word...so frustrating! An IMO or FMO who intentionally decides not to release agents to take their business elsewhere is only serving their own interest and often causes agents to recommend products that are not in the best interest of the public because that agent is not free to recommend other products due to being held hostage to an IMO/FMO."
Steve Kerby, owner of Oregon Financial Group, added, "These restrictions are not just hampering my ability to earn a living-they're preventing clients from getting the correct contract they deserve. That is not acting with true fiduciary responsibility and best interest."
Blake's petition, which is rapidly gaining traction, seeks to gather enough signatures to prompt a serious conversation with carriers and regulatory bodies. "I think it would take at least 10,000 signatures before we can walk into carriers and explain why it's in their best interest to abandon this legacy rule," Blake noted.
In a pioneering move, Annuity, Inc. has become the first FMO in the industry to offer all of its agents a signed pre-release letter from the CEO upon joining the company. This letter guarantees that agents will not be restricted if they choose to change FMOs. As Blake emphasized in his welcome email to new agents, "We hope to be your chosen partner for the rest of your career, but if you ever believe it is in your best interest to leave us, you have this agreement, assuring that we will not restrict you."
For more information about this initiative and to sign the petition, visit .
About Annuity, Inc.
Annuity, Inc. is a leading Field Marketing Organization (FMO) with premier consumer-focused media assets, including Annuity, a consumer marketplace for annuities, and Safe Money Radio. The company is dedicated to empowering independent agents by providing free leads, agent-friendly compensation, and comprehensive support tools. Annuity, Inc. is reshaping the way agents interact with carriers and clients, ensuring they have the resources needed to thrive in a competitive market.
Milan Jensen
Annuity
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