- Report: #1038184
Report - Rebuttal - Arbitrate
Complaint Review: oaktree brokerage
oaktree brokerage119 N. Robinson Avenue Oklahoma City, Oklahoma United States of America
oaktree brokerage e-termlifeamerica.com Insurance Company Employement Enrollment Fee Scam Oklahoma City, Oklahoma
DO NOT SEND THEM ANY MONEY. Read the email letter below.
Domain Name.......... otbrokerage.com
Creation Date........ 2013-03-05
Registration Date.... 2013-03-05
Expiry Date.......... 2014-03-05
Tracking Number...... 1784175864_DOMAIN_COM-VRSN
Organisation Name.... Emilie Ortiz
Organisation Address. PO Box 61359
Organisation Address. Sunnyvale
Organisation Address. 94088
Organisation Address. CA
Organisation Address. US
This is a copy of the letter they send.
RE: OAKTREE Brokerage Services Virtual Agent Position Outline
Dear Prospective Life Agent:
Thank you for your response and interest in the OAKTREE Brokerage Services Virtual Agent Position. The following
is intended to serve as an outline of our company and the life agent position currently available. We ask that you
review this document closely. After review, if you are interested in proceeding to the next step, please E-MAIL ME
and we can set up a time to speak on the telephone, discuss the position in detail and determine if theres a fit
between yourself and our company. Here is OAKTREE Brokerage Services!
OAKTREE Brokerage was formed in April of 1999. If you know your industry history, 1998-2000 was the peak time
when nearly every major life carrier was looking towards the future to revolutionize how high-volume life sales
could be made as simple and as fast as possible to accommodate what was quickly becoming the new buying style
in which modern day consumers were beginning to buy all products and services (i.e. purchasing over the
telephone and/or via the internet). In short, OAKTREE Brokerage was structured and built entirely for that
purpose. Since our inception, all of our marketing, products, platforms, scripts, methods, etc. have been focused
and designed around a non-traditional, non-field based selling method. We do EVERYTHING completely over the
telephone, through e-mail and the internet and 100% of all selling, processing, underwriting, servicing, and so on is
handled with our customers sight unseen. After nearly 14 years of pioneering and fine-tuning, today we have
what many would consider a perfect system. We get our customers insured with very competitive, very
recognizable brand name carriers FAST and with as little headache and hassle as you can possibly imagine, within
48-72 hours in nearly all cases. Customers get the coverage they need easily and affordably, we get paid fast and it
just plain works.
We currently have 40 full-time agents on-site plus supporting staff and our management. Although we have a very
solid core of In-House producers, we have and are able to consistently provide far more qualified leads than our
current agents can support. Therefore, our current expansion plan is the virtual agent program being described.
Even though youll be working with us remotely, it would be desired that you work very closely according to the
agent parameters strictly in place that our current In-House agents observe. That said, its just all about production
of course. Obviously, working remotely is going to offer you the highest level of schedule flexibility imaginable. We
understand that. BUT, you have to make sure that you are consistently putting in the time, effort and energy to
sustain adequate production. Here is the environment and resources you need to have available to you daily in
your off-site location. Please note we have NO preference really whether your off-site location is a home office
and/or if youre working from a current office location just as long as you have the following and can be
productive. You need
A RELIABLE computer with a high-speed internet connection.
A higher volume e-mail account (i.e. an account with adequate storage to save all of your
correspondence, applications, etc. In most cases, you can simply upgrade your storage with most providers, if
You need the ability to print, copy, fax and scan. A good Multi-Function machine from any office store
should work fine. Just keep in mind that you may be doing a good amount of scanning and e-mailing so it needs to
be a machine/method that works smoothly.
RELIABLE telephone service ideally with unlimited long-distance. We sell OVER THE PHONE so clearly
youll be making a lot of calls.
Agent Licensing & Contracting Requirements
You MUST be current licensed and in good standing in at least your resident state (Non-resident licensing
requirements will be discussed on an individual basis).
It is suggested, though not required, that you have current Errors & Omissions insurance coverage with at
least minimum limits of $500K/$500K.
We will appoint you with our core carriers initially and additional carriers, as your product needs
ALL leads over the entire course of your affiliation with us that we supply are provided to you by OAKTREE
Brokerage at NO COST. The leads you will be provided will be Mail-back Life Leads, Internet Life Leads AND even
OAKTREE Brokerage Book i.e. current and former clients with us that you can contact for new sales, policy
reviews and up-sales including spouse policies, other family members, business coverage needs, etc. Please note
that of course we have very strict replacement guidelines to ensure appropriate primary policy replacement when
needed. Generally speaking, we dont do very much primary policy replacement when working with existing
customers for obvious reasons. Our inforce book is approached entirely from an addition/upselling perspective.
ONLY our best producing agents are given existing OAKTREE Brokerage clients as prospects. Beyond just being a
good writer, we have to be sure at all times that ALL existing clients given as prospects are being handled properly.
All of this said, there is NO mandatory period of time that you have to be with us before we will give you existing
OAKTREE Brokerage clients as prospects. You can get those clients as part of your weekly lead flow very quickly.
We just need you to convert when you get them and again we have to be able to trust youre working them
properly. In short mail-back leads, internet leads, existing client leads, etc. all are provided to you in abundance
at NO COST. And, of course we always welcome any customers/prospects generated on your own to be written
through us as well, assuming the products we offer are suitable for that customers needs. That is ALWAYS very
much appreciated, though NOT required.
For ALL Virtual Agents, our range of commission is between 60-75%. All agents will start at the 60% level and
commission increases will be based on the following 3 items:
#1 Consistent written production (8-10+ applications per week)
#2 Placement (70%+ expected, in line with current company levels) Initials:_______________
#3 Persistency (OAKTREE Brokerage currently enjoys very strong retention levels on ALL policy types)
Again, up to 75% commission, additional bonuses and incentives are available PLUS renewals on our permanent
ALL of our top agents in our office earn 75% commission. Also, please keep in mind that we are high-volume
producers. You will receive A LOT of leads every week. We are NOT field-writers and NOBODY in our office or
organization writes an average of 2-5 applications each week, as is common for most field agents. Its a
COMPLETELY different ball-game here with us at OAKTREE Brokerage.
Annualized Commissions 75% up front
Average Sale - $80 per month/roughly $1,000 annualized.
$83.33 monthly premium sale = $1,000 annualized
$1,000 X *60% (starting individual commission rate) = $600 total commission
$450 (*75%) advanced/paid to you at issue. Remaining $150 paid as-earned to you in policy months 10,11 & 12.
Average 4-5 paid cases per week = Average $1,800-$2,250 per week minimum earning expectation.
ALL Non-Med cases (roughly 90% of our business) are issued and approved within 48-72 hours. Pay day is weekly
for ALL agents, even daily with some carriers. And, you can expect to be paid within 7 days of your first placed
One Time, FULLY REFUNDABLE Program Enrollment Payment
PLEASE read this section closely. We are looking for quality, profitable production for both you and us by adding
competent, hard-working agents to our ranks. With every agent we work with, train and get into production, it is
our hope that you join us, stay with us and earn with us for as long a period of time as possible. It is extremely
important that you understand. We are training agents and supporting agents with an exceptional and cost
effective, modern selling model to work WITH US. This program/position is NOT just a lead program. This
position is what we do. This is ALL we do and, quite frankly, even though were very good at getting the right
producers on-board and into production quickly, theres still some real work to be done. This is for nearly every
agent an entirely different and very unique, new way of doing business. Even the most seasoned and experienced
agents who join us will need training and detailed instruction on how to sell in this style, process business in this
manner, and so on. That all said, this is that better mousetrap finally and once and for all. Once youre up and
running on our system, I can all but guarantee you that your days of jumping in the car and venturing out to see
prospects that may or may not buy even though youve gone to considerable time and expense those days will
be over. Also, while were on the subject of training and the overall program in general, I want to stress that what
we teach you is very private, trade secret information not to be shared or utilized elsewhere. Clearly, this is an
extremely valuable model and we want committed producers willing/able to make a modest and FULLY
REFUNDABLE upfront financial commitment. This commitment is intended to insure all of OAKTREE BROKERAGES
COSTS including all training, all training materials AND ESPECIALLY ALL OF YOUR LEAD COSTS THAT WELL BE
PROVIDING WHILE YOURE WORKING WITH US. As we all know, leads are very expensive and OAKTREE Brokerage
will spend considerably on your leads alone over the course of your affiliation with us.
*Program Enrollment Payment is $500 (Will be discussed in detail during our phone appointment)
Finally, your one-time payment is FULLY REFUNDABLE to you once youve placed your first *5 cases with us
totaling a minimum of $2,500 of annualized premium. When training is successfully completed and the refund
requirements are met, you will receive a company check in the amount of your full enrollment payment. This
check will be considered a bonus award for the successful completion of the training program including meeting
your initial production requirement.
Hopefully you see, as we do, that what were asking for is very reasonable. Clearly, the point is to get quality
agents into production and its NOT about the enrollment payment, as well be giving it back to you in full VERY
quickly. You should have 5 cases paid within your second week with us. HOWEVER, again we will discuss this item
in detail, as well everything else weve covered, as soon as we jump on the phone and have an opportunity to talk.
Thats everything! Again, if interested in moving forward to the next step, as I hope you are, E-MAIL ME at
email@example.com and let me know youd like to set a phone appointment. I will contact you back
promptly with a proposed call time. Thank you for your interest and hope to hear from you very soon!!
John A. Wintrob
Lic. No. 87181
(405) 548-5242 Direct/VM
(866) 770-9328 Toll-Free
(866) 422-4436 Fax
Agent Printed Name
This report was posted on Ripoff Report on 03/26/2013 01:52 PM and is a permanent record located here: http://www.ripoffreport.com/r/oaktree-brokerage/Oklahoma-City-Oklahoma-73102/oaktree-brokerage-e-termlifeamericacom-Insurance-Company-Employement-Enrollment-Fee-Scam-1038184. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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