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    Articles

    Business Ethics

    Adviser Alert: Beware Reverse Churning, a Powerful Litigation Magnet

    By: Harry J. Lew, NEA Chief Content Officer on September 12th, 2018 • Comments: 0

    Have you moved a lot of your clients from commission-generating accounts to fee-bearing advisory arrangements, also known as wrap accounts? Are you expecting a major correction to hit the markets in the coming months or years? Then it’s time to protect yourself against a surge of so-called “reverse churning” errors and omissions lawsuits.

    (Read More)


    Business Ethics

    Risk Profiling Ethics: The Importance of Doing What's Right

    By: Harry J. Lew, NEA Chief Content Officer on August 8th, 2018 • Comments: 0

    Would you sell clients a financial product without fully understanding their appetite for risk? If you did, you’d likely violate numerous regulations mandating that you know your customers and only provide suitable financial products based on a full understanding of their needs.

    (Read More)


    Business Ethics

    The Fiduciary Rule is Dead; Time to Become a Fiduciary?

    By: Harry J. Lew, NEA Chief Content Officer on June 14th, 2018 • Comments: 0

    Just because regulators have abandoned the fiduciary rule for insurance agents and securities brokers who sell retirement products—and who now will continue to be regulated only from a suitability standpoint— doesn’t mean you shouldn’t become a fiduciary yourself.

    (Read More)


    Business Ethics

    The Four-Way Test: Or How to Act Ethically EVERY Time

    By: Harry J. Lew, NEA Chief Content Officer on April 24th, 2018 • Comments: 0

    Is it any wonder financial professionals looking to stay in compliance often end up with eyestrain, if not a migraine headache?

    (Read More)


    Sales & Marketing

    U.S. Experiences Epic Trust Drop: How to Capitalize On It, Part 2

    By: Harry J. Lew, NEA Chief Content Officer on March 16th, 2018 • Comments: 0

    In his now classic book, “The Trusted Advisor,” which he co-wrote with David Maister and Robert M. Galford, Green broke trust into its component parts and described how they fit into a trust equation. By understanding where trust comes from, Green said service providers could improve their own trust quotient.

    (Read More)


    Business Ethics

    U.S. Experiences Epic Trust Drop: An Opportunity for You, Part 1

    By: Harry J. Lew, NEA Chief Content Officer on February 2nd, 2018 • Comments: 0

    Amidst this ugly picture, you might be wondering how it’s possible to run a financial-services business when the public is in such a distrusting mood? Actually, the astounding trust gap may actually be an opportunity in disguise for financial professionals . . . for you.

    (Read More)


    Business Ethics

    Rogue Advisors on Parade: Sunshine Ponzier, Off-Radar Low Flier, and Scummy Senior Scammer

    By: Harry J. Lew, NEA Chief Content Officer on August 24th, 2017 • Comments: 0

    A Central Florida investment advisor perpetrated a Ponzi scheme that cost consumers $3.6 million. According to the Orange County Sheriff’s Office, Justin Troy Spearman, 29, convinced mutliple Florida residents to invest in a fraudulent Texas oil and gas scheme.

    (Read More)


    Sales & Marketing

    Advisor Alert: RIAs Catch Break on SEC's Form ADV Requirements

    By: Harry J. Lew, NEA Chief Content Officer on August 24th, 2017 • Comments: 0

    If you’re a registered investment advisor worried about providing the new required Form ADV data, relax. You just caught a break from the Securities and Exchange Commission.

    (Read More)


    Business Ethics

    Rogue Advisors on Parade: Dead Son Fraudster, Client Moocher, Annuity Churner

    By: Harry J. Lew, NEA Chief Content Officer on July 25th, 2017 • Comments: 0

    A New York insurance agent and his wife were indicted for trying to scam their deceased son’s life insurer. According to New York Attorney General Eric T. Schneiderman, the agent, Lawrence D. Rosenbaum, 65, and his wife, Thomasine Henderson, 65, both of Albany, New York, stole over $12,000 in life insurance cash values and tried to wrongfully obtain nearly $50,000 in life insurance benefits relating to the death of their son.

    (Read More)


    Sales & Marketing

    Advertising Compliance Basics: 25 Ways to Avoid Costly Slip-Ups

    By: Harry J. Lew, NEA Chief Content Officer on July 14th, 2017 • Comments: 0

    We've often said the vast majority of financial advisors are ethical and would no sooner rip off Grandma or Grandpa than lop off their own right arm. However, it’s also fair to say a much larger percentage of advisors have ethical or compliance lapses through ignorance, inattention, or just sheer sloppiness. This is especially true regarding the development and use of advertising materials.

    (Read More)


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