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08-30-2015, 10:48 PM #1
- Join Date
- Aug 2015
- Location
- New York
- Posts
- 15
I am aware now that the company owns the file. Now lets say i abolish the file and contact the clients separately and make him aware that I am now independent. The merchant then agrees to send his file over to me. Would that be acceptable from a legal standpoint?
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08-30-2015, 11:11 PM #2
- Join Date
- May 2015
- Location
- NC
- Posts
- 208
...and by the way, I'm only responding directly to your question and my answers should not be construed as an endorsement of this type of behavior.
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09-13-2015, 12:33 PM #3
- Join Date
- Apr 2015
- Location
- Florida, First MCA sold in 85/ WS in 76. CFP/RIA, series 3,6,7,8,10,63,Ins218,220.
- Posts
- 554
Don't let these naive guys fool you!
Company doesn't always own the file Is there a non-compete or a non piracy? Would a Judge (if you got sued) consider it tortious interference? Yes, you're being underpaid terribly. As ISOs we get from average 6-15% plus renewals and cross selling ability for other products. If you're closing that much and cold calling to get them, you are very valuable to yourself or any good hiring manager for a direct funder or an ISO. There are so many other products out there than just the "MCA" only, that benefit and help you keep the client longer. So many ways to assist these businesses and keep them as a book of business in a very competitive market. PM me.
Last edited by John Galt; 09-13-2015 at 12:35 PM. Reason: spelling