KIRKLAND, Wash. — This month LTC Financial Partners LLC, the nation’s most experienced long term care insurance brokerage, will pay its agents, support staff and investors over $1,000,000 in dividends. “This is a long term care industry first,” says Cameron Truesdell, CEO. “And it has two big implications.”
The implications are —
1. The promise of dividends attracts top professionals. The firm has grown to 264 agents in a little over three years. “We’re the only large national brokerage where agents own shares in the business and get a piece of the action,” says Truesdell. The dividends are over and above the regular income from premiums and renewals. “That’s unheard of in our industry.”
2. Top professionals serve people better when they “own” their organization. “Our agents really care about their clients. And their caring gets magnified when they’re part of a top team that shares their concern.” The dividends signify success, but the root of the performance is much more than money, Truesdell points out. “There’s the synergy of shared mission and commitment. It’s magic.”
After opening its doors less than four years ago, in May of 2003, LTC Financial Partners has achieved these results —
* Profitable and paid its first dividend in March, 2007.
* Compound growth of 50% a year.
* Privately-held shares up 400%, to $4.00 a share from $1.00 in the first round.
* Regional offices opened in New York City and Marin, California. These and the Kirkland, Washington, headquarters service the 264 agents.
* Publication of four editions of the definitive guide to long term care insurance, Dignity for Life.
* Formation of a charitable organization to support AIDS-plagued Rabuor Village in Kenya.
Two of the agents, Gene Cutler of New York and Todd Grove of Maine, have individually exceeded $1 million in placed business during their brief tenure with the organization. Grove will receive a dividend check for $11,577; Cutler, $14,435. This is in addition to their regular commissions and renewal payments.
“We’re on a roll,” says Truesdell. “Our dividend checks are just a sign of it. We think we’ve got a million-dollar secret for making a difference.” The organization took its first application in August 2003, and is now the nation’s most experienced independent long term care insurance brokerage representing multiple carriers.
LTC Financial Partners is accepting applications from long term care insurance agents who want to join the organization. Details are available in a “Partner Package” document, which may be requested at http://www.ltcfp.us/own/.
[tags]Cameron Truesdell, LTC Financial Partners, long term care brokerage, LTCi partner dividends, insurance industry[/tags]
