• Home
  • About
  • Find a Member
  • Ethics Center
  • Consumer Hub
  • Join Today
  • Contact
  • Have Questions? Call: (800) 282-1831

    Articles

    Sales & Marketing

    Bulletproof Practice, Part 3: What’s in Your Product/Sponsor Files?

    By: Doug Schriner on April 27th, 2016 • Comments: 0

    Today more than ever, financial advisors are required to demonstrate the basis for their investment analysis, recommendations, and transactions. Without a systematic method for documenting and storing your work, you will be at the mercy of overzealous regulators and unscrupulous litigators. In fact, it’s not enough to have files; they must be complete and demonstrate a timeline consistent with your activities. That means you can’t go back and rebuild them after the fact. Are your product/sponsor files inadequate? Don’t worry! Resolve to do better in the future . . . and start right now!

    (Read More)


    Sales & Marketing

    E&O On the Fly, Part 1: Essential Buying Knowledge for Busy Advisors

    By: Harry J. Lew, NEA Chief Content Officer on April 26th, 2016 • Comments: 0

    Advisors often find themselves scrambling to buy the coverage they need under severe time constraints, which leads them to make a cursory rather than careful buying decision. And this can result in surprises later when their insurer fails to provide coverage for an excluded loss. To protect yourself, read the specimen policy fully and study its definitions carefully. Even though you’re really busy, the time you spend on this will be time well spent.

    (Read More)


    Sales & Marketing

    E&O On the Fly, Part 2: What You Must Know about Exclusions

    By: Harry J. Lew, NEA Chief Content Officer on April 26th, 2016 • Comments: 0

    As a financial advisor, you probably know a great deal about insurance. Consequently, you understand why life and health insurers must exclude certain losses in order to preserve company solvency. But what about the errors-and-omissions insurance you buy for your firm?

    (Read More)


    Business Ethics

    Core Exercise: Why Best Practices Put Ethics First

    By: Harry J. Lew, NEA Chief Content Officer on April 26th, 2016 • Comments: 0

    We’ve seen how easy it is for advisors to get distracted from the core values and ethical practices that produce long-term success. They focus on seeing more prospects, closing more sales, cross-selling more products, racking up more conference credits, graduating to a nicer office, buying a more luxurious home, etc. There’s nothing wrong with wanting those things. But remember that they are results, not root causes.

    (Read More)


    Business Ethics

    Advisor Alert: Help Coming to Prevent Senior Financial Abuse

    By: Harry J. Lew, NEA Chief Content Officer on April 26th, 2016 • Comments: 0

    Financial advisors who have noticed cognitive declines in older clients as well as irregularities in their financial statements face tough decisions. Should they raise a red flag with authorities and risk angering family members? And should they slow or stop a requested financial transaction when they suspect exploitation?

    (Read More)


    Sales & Marketing

    Fiduciary Impact in a Nutshell: Will YOUR Sales Channel Crack?

    By: Harry J. Lew, NEA Chief Content Officer on April 25th, 2016 • Comments: 0

    It will be years before the full impact of the Department of Labor’s new Fiduciary Rule is known. But it will begin affecting distinct sales channels in various ways, says Cyril Tuohy on InsuranceNewsNet.com. Here’s his analysis in a nutshell.

    (Read More)


    Sales & Marketing

    Don't Blow Up Your Business: Beware These Eight Annuity Compliance Issues

    By: Harry J. Lew, NEA Chief Content Officer on April 22nd, 2016 • Comments: 0

    The Department of Labor’s new Fiduciary Standard has been dominating the headlines for months. This is totally expected, since the new regulation has the potential to fundamentally reshape how advisors sell products in the qualified retirement arena. But advisors who sell both qualified and non-qualified products, especially annuities, have many other compliance issues on their plates.

    (Read More)


    Customer Service

    Dazzle Your Customers: Seven Golden Service Principles

    By: Harry J. Lew, NEA Chief Content Officer on April 6th, 2016 • Comments: 0

    “Do unto others as you would like others to do unto you.” The so-called Golden Rule has guided human conduct since time immemorial. It was known in the Middle Kingdom of ancient Egypt (ca: 2000 B.C.), in Babylon, as expressed in the Code of Hammurabi, and in ancient Greece. It also appears in one form or another in most major religions. Why has this moral concept had such a large impact on humankind? Because it’s morally right—and pragmatically smart!

    (Read More)


    Business Ethics

    Advisor Checklist: Are Your Business Ethics in Order?

    By: Harry J. Lew, NEA Chief Content Officer on April 6th, 2016 • Comments: 0

    If you are a financial professional or business owner, you can’t outsource ethics. You alone are responsible for your ethical conduct. Whether you own a business or just work for one, these principles will help you avoid customer complaints, legal sanctions, and E&O insurance claims.

    (Read More)


    Sales & Marketing

    E&O, No: How to Ease the Pain of Client Disputes

    By: Harry J. Lew, NEA Chief Content Officer on April 4th, 2016 • Comments: 0

    FINRA statistics reveal that 2,135 customers filed arbitration claims against securities brokers in 2015. FINRA also says that arbitration cases typically take about 14 months to resolve, with advisors liable for damages about 40 percent of the time. Now, does the prospect of worrying about a client dispute for 14 months, dealing with attorneys, having outsiders poke around in your business, and potentially incurring sanctions and fines sound appealing to you? I thought so. And I’m certain insurance-licensed producers and investment advisors would agree.

    (Read More)


    X logo
    Want to become a force for good in business?
    Then commit yourself to treating your customers right.
    Taking the National Ethics Association Business Integrity Pledge is a great first step.