DOL Rule to Annuity Agents: "Defend Your Recommendations!"
By: Shawn Sparks on July 27th, 2017 • Comments: 0
It’s probably not hyperbole to say that the new U.S. Department of Labor fiduciary rule is completely changing the financial services sector.
The rule, which started implementation on June 9, is altering the way many annuity salespeople do business.
Unless your head has been in the sand, more than likely you are aware that the DOL fiduciary rule now requires all financial professionals to adhere to a fiduciary duty when servicing client's qualified retirement assets.
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.
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.
When Fines Aren’t Fine, It’s Time for Compliance
By: Harry J. Lew, NEA Chief Content Officer on July 13th, 2017 • Comments: 0
You know the feeling. You’re driving down the road, albeit a little too fast, when the police pull you over. Because of your inattention, you receive a speeding ticket, and now must pay a fine of $250. Ouch! Although you know you messed up, you’re still not fine with writing such a large check.
