Quility operates within the insurance coverage MLM area of interest. The corporate doesn’t present a company tackle on its web site, however does state it’s “Made with (coronary heart emoji) in CA, NC and NV”.
Quility supplies a short historical past on its origin;
Whereas the Quility title is new, we’ve been within the insurance coverage enterprise for some time.
Earlier than becoming a member of forces, our brokers represented two associate corporations, Symmetry Monetary Group and Asurea.
In 2020, we mixed our nationwide household of brokers to change into Quility.
Heading up Quility are co-founders Casey Watkins, Brandon Ellison and Brian Pope.
Watkins, Ellison and Pope are behind Symmetry Monetary Group, based in 2009.
I’ve additionally seen Pope credited as a co-founder of Asurea. On Asurea’s web site (which remains to be up for some motive), Pope is credited as Chairman of the Board.
This prompted me to go search for Symmetry Monetary Group, whose web site can also be nonetheless up for some motive.
For a merger that occurred nearly a 12 months and a half in the past, Quility model messaging seems to be in every single place.
From what I can collect each Symmetry Monetary Group and Asurea operated as MLM corporations.
In a Could 2020 interview, Casey Watkins acknowledged
Symmetry Monetary Group and Asurea have labored in alignment with one another since our firm’s inception.
Seeing as Brian Pope was co-founder of each corporations, I’m not likely positive what the necessity for 2 corporations within the first place was.
Since their respective launches, neither Symmetry Monetary Group or Asurea seem to have run into regulatory bother.
I can’t converse to the person MLM alternatives as BehindMLM didn’t evaluation both.
At present although we check out the present Quility MLM alternative.
Quility’s Merchandise
Quility markets insurance coverage fulfilled by third-party suppliers. Quility claims to work with “80+ insurance coverage corporations”.
We store greater than 80 main insurance coverage corporations that will help you discover the very best coverage at the very best value.
Insurance coverage corporations featured on Quility’s web site embrace American-Amicable, Mutual of Omaha, Foresters Monetary, Americo, John Hancock and Assurity.
Insurance coverage merchandise supplied by Quility embrace:
- mortgage safety
- time period life
- everlasting life
- remaining expense
- debt free life
- incapacity and significant sickness; and
- retirement resolution
Quility doesn’t present any pricing examples.
To be honest although, because of the personalised nature of insurance coverage, they aren’t that useful anyway.
Quility’s Compensation Plan
The compensation plan I’m working off for this evaluation is a “Symmetry Agent Handbook”, dated October 2021.
The highest of the handbook does state Symmetry is “powered by Quility”. The doc nonetheless ceaselessly hyperlinks to Symmetry Monetary Group’s web site.
Why Quility nonetheless doesn’t have its personal compensation documentation a 12 months and a half after launching I don’t know.
Quility Affiliate Ranks
There are fifteen affiliate ranks inside Quility’s compensation plan.
Together with their respective qualification standards, they’re as follows:
- New Agent – join as a Quility affiliate
- Seasoned New Agent – submit six coverage purposes inside your first six weeks
- High Producer – generate not less than $20,000 in coverage quantity for 2 consecutive months
- Elite Producer – generate not less than $30,000 in coverage quantity for 2 consecutive months
- Staff Chief – generate not less than $10,000 in private coverage quantity and $15,000 in group coverage quantity for 2 consecutive months, and recruit and keep three New Brokers or greater
- Key Chief – generate not less than $20,000 in private coverage quantity and $30,000 in group coverage quantity for 2 consecutive months, and generate a downline of 4 New Brokers or greater (three have to be personally recruited)
- Company Proprietor – generate not less than $30,000 in private coverage quantity and $50,000 in group coverage quantity for 3 consecutive months, be on the 95% fee rank and generate and generate a downline of six New Brokers or greater (4 have to be personally recruited)
- Company Director – recruit and keep one Company Proprietor or greater
- Regional Company Director – recruit and keep two Company Proprietor or greater
- Managing Vice President – recruit and keep one Company Director and two Company House owners or greater
- Senior Vice President – recruit and keep two Company Administrators and one Company Proprietor or greater
- Govt Vice President – recruit and keep three Company Administrators or greater
- Affiliate Accomplice – recruit and keep one Managing Vice President on a 120% fee fee, two Company Administrators and one Company Proprietor or greater
- Senior Accomplice – recruit and keep two Managing Vice Presidents on a 120% fee fee and one Company Director or greater
- Managing Accomplice – recruit and keep three Managing Vice Presidents on a 120% fee fee and one Company Director or greater
Notice that specified required ranks and fee charges of recruited associates are minimal quantities.
For fee rank qualification standards see under.
Fee Ranks
Quility’s fee ranks are along with affiliate ranks.
Fee ranks decide base commissions paid on approve insurance policies.
- 70% – join as a Quility affiliate
- 75% – generate $2500 in PV or GV
- 80% – generate $5000 in PV or GV
- 85% – generate $10,000 in PV or GV
- 90% – generate $15,000 in PV or GV
- 95% – generate $20,000 PV or $30,000 GV (throughout six recruited associates)
- 100% – generate $25,000 PV or $45,000 GV (throughout 9 recruited associates)
- 105% – generate $27,500 PV or $65,000 GV (throughout 13 recruited associates)
- 110% – generate $30,000 PV or $95,000 GV (throughout nineteen recruited associates)
- 115% – generate $35,000 PV or $145,000 GV (throughout twenty-nine recruited associates)
- 120% – generate $40,00 PV or $225,000 GV (throughout forty-five recruited associates)
PV stands for “Private Quantity” and is coverage quantity generated by an affiliate.
GV stands for “Group Quantity” and is PV generated by an affiliate and their downline.
Notice that required PV and GV have to be maintained for 2 consecutive months.
Additionally notice that not more than 50% of required GV can come from anybody unilevel leg.
Though not explicitly clarified, I consider as soon as certified for ranks are everlasting.
Coverage Quantity Commissions (first 12 months)
Quility’s coverage quantity commissions are tied to fee ranks above.
Notice {that a} 120% fee is paid on all written insurance policies. This enables greater ranked Quility associates to earn commissions on downline quantity.
These are known as “override” commissions, and are tracked by way of a unilevel compensation construction.
A unilevel compensation construction locations an affiliate on the high of a unilevel crew, with each personally recruited affiliate positioned straight below them (degree 1):
If any degree 1 associates recruit new associates, they’re positioned on degree 2 of the unique affiliate’s unilevel crew.
If any degree 2 associates recruit new associates, they’re positioned on degree 3 and so forth and so forth down a theoretical infinite variety of ranges.
The best way an override works is a lesser ranked affiliate sells a coverage and is paid their corresponding fee rank fee.
If their upline is greater ranked, they earn the distinction between their fee rank fee and that of the downline affiliate.
On this method upline associates are in a position to accumulate override 5% to 50% variations, relying on their fee rank and that of downline associates.
Renewal Commissions
Quility don’t present coverage renewal fee specifics.
The corporate’s compensation plan states solely that “one of these fee is just not accessible from all carriers.”
Downline Quantity Bonus
Quility associates can qualify to earn a bonus on downline quantity (GV).
Bonus qualification is decided by whether or not an affiliate is fee rank qualifying on their very own quantity (Producer) or that of their downline (Builder).
- Producers should generate $5000 PV a month
- Builders have to be on the 95% fee rank and producing $25,000 GV a month
- Builders on the 105% fee rank and better have to be producing $35,000 GV a month
The next lead-based further qualification additionally applies:
- $200 to $249 in PPL over a 90-day rolling interval = 50% bonus fee paid out
- $250 or extra PPL over a 90-day rolling interval = full bonus fee paid paid out
- $7500 in “max case credit score” is required
PPL stands for “paid premium per lead” and is the common PV generated throughout bought leads in a month.
“Max case credit score” isn’t outlined anyplace within the compensation doc. I do not know what that is.
If the above qualification standards is met, bonus charges are then calculated primarily based on month-to-month generated PV:
- generate $12,500 to $14,999 a month in PV and earn a 2% bonus fee
- generate $15,000 to $19,999 a month in PV and earn a 2.25% bonus fee
- generate $20,000 to $24,999 a month in PV and earn a 2.5% bonus fee
- generate $25,000 to $29,999 a month in PV and earn a 3% bonus fee
- generate $30,000 to $39,999 a month in PV and earn a 4% bonus fee
- generate $40,000+ a month in PV and earn a 5% bonus fee
Different Bonuses
Quility’s compensation documentation references a Capital Bonus, “120+ Fairness Bonuses” and “further incentives”.
No info on the Capital Bonus is supplied.
The 120+ Fairness Bonus seems to be another that kicks in when a downline affiliate reaches the 120% fee rank.
“Fairness” suggests shares could also be supplied however once more no specifics are supplied.
Further incentives are described as follows:
SFG Vacation spot is the featured journey for annually and brokers are given a yearlong qualification interval through which to earn an invite on the journey.
Different contests comparable to Symmetry Open, November to Bear in mind, Bonus Lead Bandito, and many others. have a shorter length and are rolled out periodically all year long.
The paragraph above that references “journeys and contests” supplied by Quility’s partnered insurance coverage carriers.
Becoming a member of Quility
Quility associates are required to use for licenses, errors and omissions insurance coverage (non-compulsory) and go an in home examination.
Prices for any of this will not be supplied by Quility.
Conclusion
My main concern with Quility is the shortage of transparency.
There’s so much to digest relating to insurance coverage MLMs. Quility do an excellent job of explaining what they do clarify (which is admittedly so much), however essential due-diligence factors are withheld.
For starters, the price of becoming a member of the corporate. I take it licenses are required and that’s on high of no matter Quility themselves are charging.
Not disclosing these prices is a right away pink flag and potential violation of the FTC Act (disclosures).
Then there’s Quility’s fairness program, which I flagged as a fear in going over compensation.
Whereas specifics aren’t supplied, Quility do present this rationalization of their compensation glossary:
Fairness Appreciation Rights (EARs)
EARs permit the recipient to take part in a share of the worth creation of Quility above a ground worth established in an award.
These are granted by the corporate in its sole discretion as a “present” to the recipient and are topic to the precise phrases of the grant (together with situations on forfeiture).
Recipients should stay in good standing on the time of a “set off occasion” to be entitled to obtain cost on the
EARs she or he holds.
Seems like somebody is attempting very onerous to not use the time period “shares” to explain a digital share scheme.
That is important as a result of neither Quility, Symmetry Monetary Group or Asurea are registered with the SEC.
It’s definitely odd that Quility don’t present specifics relating to their fairness program. The corporate’s “Agent Handbook” is offered as a abstract of the “Company Proprietor Handbook”.
This summarized model clocks in at thirty-six pages, so it’s not like Quility draw back from explanations.
As an alternative particulars of the fairness program seems to be intentional, which is one other pink flag to me.
Aside from that Quility’s compensation seems fairly straight ahead. You qualify for a fee fee, earn on lesser ranked downline associates and extra bonuses can be found.
One sticking level for bonuses is the requirement Quility associates buy leads and keep a $200 PPL.
Conversion of company-supplied leads is a significant variable and tying it to bonus qualification appears unfair.
Not solely that, Quility will even reduce you off for those who don’t convert their leads:
Brokers ought to keep a $250 month-to-month minimal Paid Premium Per Lead (PPL), a 65% or greater concern fee, and a detailed ratio
of 30% or greater to make sure profitability and continued participation within the Mortgage Lead Program.SFG reserves the appropriate to cancel a standing A lead order if an agent’s
numbers fall under these minimums for 2 consecutive months.
“A Leads” are Quility’s premium leads. The corporate provides
- A Leads – “the freshest sort of leads” which can be lower than 21 days outdated
- Overstock A Leads – unsold A Leads which can be over 21 days outdated ($9 to $13)
- Bonus Leads – leads already bought to present brokers, $7.99 to 50 cents
- DX Leads – no rationalization supplied
With respect to A Lead pricing, Quility states:
The fee per lead relies on the agent’s contract degree (see the SFG Promotion Tips for A lead value).
The linked “SFT Promotion Tips” doc accommodates no details about A Lead value.
From the costs which can be disclosed nonetheless, we will surmise A Leads value over $13 every.
That may add up shortly. Oh and presumably for those who don’t convert bought A Leads, Quility will nonetheless promote you cheaper leads.
Theoretically these leads can be tougher to transform, so I’m undecided what the logic is there apart from cha-ching.
With respect to supplied insurance coverage, Quility declare to supply “the very best coverage at the very best value”.
We do the purchasing so that you can make sure you get the very best protection at the very best value. It’s our promise to you.
If you happen to’ve acquired insurance coverage, comparability appears painless sufficient via a Quility internet app.
Get a free quote in seconds primarily based in your insurance coverage wants, then proceed to our on-line software and safe the protection you want in 10 minutes. It’s that straightforward.
The app does harvest your contact particulars however that appears unavoidable.
What I’m not clear on is whether or not utilizing the app makes you a sellable lead or not. I can see that being annoying in that case.
The excellent news is leads can provide you some concept of how your potential upline’s Quility enterprise goes.
You may both ask them for the full variety of leads bought over the previous few months and what number of transformed.
Or simply ask for his or her PPL (PV divided by what number of A Leads they bought that month).
Personally I’m not a fan of necessary lead purchases (it’s important to purchase results in totally take part in Quility’s MLM opp), but when it’s there finest to utilize it as a device earlier than signing up.
The opposite factor to be careful for is clawbacks. 120% commissions don’t materialize out of thin-air. You’re being paid on future coverage funds on the belief these insurance policies aren’t cancelled.
If they’re, you’re on the hook.
Fee Chargeback
If an agent has obtained superior fee and the consumer fails to pay premium or cancels the coverage, the provider will concern a chargeback on the fee obtained by the agent for any unpaid premium.
Chargebacks will also be issued on override commissions obtained for a downline agent’s enterprise.
The very last thing I need to talk about is Quility’s branding. Particularly why Symmetry Monetary Group and Asurea nonetheless exist in the event that they supposedly merged into Quility?
I couldn’t discover this addressed anyplace. And it’s definitely complicated.
Take for instance the “Code of Conduct” on the appropriate, taken from a Symmetry Monetary Group branded handbook supplied on Quility’s web site.
As you possibly can see the corporate makes use of each names interchangeably.
Was there even a merger, or was Quility created as a brand new title to market Symmetry and Asurea via?
Certainly if there was a real try at merging the businesses all the pieces can be below the Quility model by now?
Strategy with warning.
