The WFG Difference
A Financial Services Business that Rewards You for Helping Others
Typical Insurance Model versus WFG Model
As agents grow and develop skills and a client base, they want their career path to grow, as well.
Typical Insurance Agency Model
- As someone who operates a typical insurance agency, often referred to as a General Agent (GA), you spend much of your time recruiting and developing sales professionals. You are vested in teaching and training your agents to be good sales people.
- Your income depends not only on your sales but also on the sales made by your agents, and so you can continue to receive that income you have to either limit your agents’ ambitions or, instead, pay them a higher contract that cuts into your own commissions.
- This means that your “Sales Super Stars” can only grow their careers by either renegotiating their contracts to a higher payout (resulting in less income to you) OR leaving to start their own agency - and become the competition
- When an agent leaves, you can no longer earn residual income or overrides from the agent, and you can lose clients since most financial services sales are relationship-based many clients will follow their original agent(s).
- In most cases, the only way an agency can succeed long-term is for the leader to develop and maintain a team by managing restrictive career growth. You are vested in their limited success.
The WFG Business Model
- As a WFG Senior Marketing Director (similar to a GA), you recruit and grow associates in a strong base shop and earn overrides on their sales.
- These strong leaders build more strong leaders to become SMDs and create their own base shops. And here is part of the WFG difference: Even though associates are promoted to the same contract level as you, you continue to receive income on their business through overrides because you helped them develop their businesses.
- There is no limit to the number of base shops you can help develop.
- As your team grows you continue to receive overrides, while they go on to achieve success – the same or more than yours – in the financial services industry.
- You, as their leader, are completely vested in their nearly limitless success .
Build a Family Legacy
WFG supports and encourages its associates to consider including their family in their businesses and, in fact, the WFG business platform helps to facilitate their involvement. We believe there can only be exponential returns when a family works together to achieve common goals. Some of the rewards of having a family-run WFG business can include:
More quality time together
- Greater efficiencies by leveraging each family member’s unique talents and skills
- A positive work environment in which individuals grow and prosper with the support of their family
- Accelerated achievement of goals
- A legacy that can be passed through generations
Your WFG business can help you secure your family’s future. As you grow your WFG business, you are creating a lasting legacy that, through WFG’s business ownership program, can be passed on and take care of your family for years to come.*^
Combining business and family enriches the lives of many WFG associates. Talk to your family and see if this business structure can work for you.