RetireCo Funding Provides Industry First Single Premium Product Commission Advances

The way independent financial professionals receive their commission from single premium life and annuity sales is changing. RetireCo Funding, LLC is drastically shrinking the timeline between submitting an application and receiving a commission.
By: the Ascent Advertising
 
Sept. 30, 2010 - PRLog -- Milwaukee, WI – The way independent financial professionals receive their commission from single premium life and annuity sales is changing.  RetireCo Funding, LLC, subsidiary of RetireCo Holdings, is drastically shrinking the timeline between submitting an application and receiving a commission.

Most financial professionals have been experiencing an ever-growing length of time between new business being submitted and the actual commissions being paid.  A study conducted by RetireCo Holdings in 1st quarter 2010 suggests that the average length of time between a sale being made and a commission being paid has grown to over ninety days, up from 55 days in 2008.  Needless to say this delay makes it exceptionally difficult for financial professionals to commit to monthly marketing, and maintain both their personal and business expenses.

CEO, Matthew T. McGonigle has a tremendous amount of experience in all facets of the single premium life market being involved in the sales, marketing, agent recruitment, and even product development.  However, it is both his passion and dedication to advancing both his company and his industry that has led to the creation of specialty lender, RetireCo Funding, LLC.

Single premium life and annuity commissions generated from the sale of large insurance policies and retirement plan rollovers can generate commissions in the thousands of dollars.  As such, many independent financial professionals literally rely on a couple of transactions each month in order to meet their overhead and operational expenses. The increasing delay in commission payments is making it difficult for many of them to operate.

“As both a recruiter and provider of marketing for independent financial professionals it is safe to say that cash flow is the number one reason for inadequate marketing and the selection of less suitable products simply to generate higher commissions, “ says McGonigle.  By providing access to cash flow, independent financial professionals are able to commit to monthly marketing, and stick to the best products for their clients every time.  RetireCo Funding, LLC employs an industry specific underwriting criteria developed using sales data gathered over the last decade.  McGonigle notes that this underwriting allows RetireCo to “fully analyze the likelihood of a pending sale cancelling, allowing us to provide an adequate advance against a future flow of receivables.”

RetireCo Holdings, LLC continues to lead the financial service sector with new innovations.  You can learn more about RetireCo Funding, LLC and all of RetireCo’s companies at www.RetireCoHoldings.com , or apply for a commission advance at www.INSComps.com.

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About RetireCo Holdings, LLC:
RetireCo Holdings, LLC provides innovative marketing and new distribution channels to the financial service sector. Visit www.RetireCoHoldings.com to learn more.
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Source:the Ascent Advertising
Email:***@retireco.com Email Verified
Tags:Annuity, Commission Advance, Commission, Insurance, Life Insurance, Retireco, Advance, Single Premium, Life, Milwaukee
Industry:Financial, Insurance, Advertising
Location:Milwaukee - Wisconsin - United States
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