Ethics Edge - March 2008

NBC Dateline Program Creates Opportunity

Although highly controversial, NBC broadcast highlights the need for greater transparency in financial sales pratices, says industry ethics group.

*** Please note: NEB released the following statement to
the industry on Thursday, April 17, 2008 ***

In the aftermath of Dateline NBC’s exposé on annuity sales practices, financial professionals have an opportunity to reaffirm their commitment to ethical business practices and to implement those practices with their clients, according to the National Ethics Bureau (NEB). | Continued »

The NEB Publishes Guide for Financial Services Organizations Wishing to Promote Ethical Business Practices.

SAN DIEGO, CA, April 21, 2008—Financial services organizations that want to do their part to promote ethical business practices have a new resource available: the National Ethics Bureau's Sponsorship Guide.

NEB’s new guide is designed for financial marketing organizations, insurance companies, and securities firms who wish to join the ranks of ethically minded firms that have become official NEB | Continued »

National Ethics Bureau Highlights Top Reasons to Engage in Ethical Business Practices in Financial Services Industry.

SAN DIEGO, CA, March 5, 2008—Some financial professionals still believe that nice people finish last. They think that that embracing ethics—or doing the right thing for their clients 100 percent of the time—will limit their options, opportunities, and ability to succeed in business. Nothing could be further from | Continued »

The National Ethics Bureau™ (NEB) is a membership organization of financial professionals who have successfully passed a series of comprehensive background checks and have agreed to maintain NEB membership standards.

NEB advocates for ethical business practices in the financial services industry through its trade-magazine columns, conference presentations, monthly newsletter, and website content. In addition, NEB offers related services such as state-approved ethics and compliance continuing education courses for licensed insurance agents and securities brokers, as well as for those holding accredited designations.

For the general public, NEB provides the ability to purchase a background check on any financial professional prior to doing business.

NEB is not a financial designation, nor does it endorse any products or services offered by its members or sponsors.

NEW: Monthly podcast that features interviews with top industry experts on current trends in the financial Services Industry.

Click here to register...

	Health Insurance Scammers Return
April 2008
They’re back . . . health-care hucksters that attempt to part your clients from their health-insurance premiums. If the U.S. economy falls into a recession, you’ll probably be seeing more of them, so warn your clients now. In the last wave of healthcare flimflams, at least four unlicensed insurers sold medical insurance to thousands, leaving insureds with $85 million in unpaid medical bills. According to one health-care expert, more than 200,000 companies and individuals have fallen prey to such scams since 2000, including those who bought insurance from the mother of all scammers, Employers Mutual. In that case, consumers were saddled with $30 million \| Continued »

April 2008	Serve and Grow Rich
	Here’s a question that bears reflection: “Do you have the means to live, but little meaning to live for?” The question comes from Viktor Frankl, a Jewish psychiatrist who lived in Vienna during World War II. After the Nazis invasion, the good doctor and his family were arrested and sent to a concentration camp.
While imprisoned, Frankl saw his fellow prisoners treated with such cruelty they lost their humanity, their health, and ultimately, their will to live. But Frankl preserved his humanity and survived. How? By realizing his purpose in life was to study the experiences of his fellow prisoners and to share what he learned. This gave him the will to live—and the raw material for the book he later wrote, “Man’s Search for Meaning." \| Continued »

Separate Yourself
from Scandals

It’s hard to open a newspaper, watch the broadcast news, or read articles on the Internet without encountering the latest media-fueled scandal. Whether it’s the behavior of the former governor of New York, the actions of the current mayor of Chicago, or other political or business scandals, it’s seems as if unethical conduct is more the rule than the exception today.

This is all the more reason to leverage your NEB membership to promote your business. Think about it. You belong to an association of background-checked financial professionals who have been vetted by an independent third party. This, along with your commitment to upholding NEB’s membership standards, makes you a different breed. Do your prospects and | Continued »

Telling Stories

Editor’s note: This article is a reprint from the December 2007 issue of Ethics Edge.

Ask Terry Herron to talk about his business and he offers this one-liner: “Sales is not a story of numbers. It’s a number of stories.” That’s also true when it comes to Herron’s business career and his current occupation as a retirement planner and owner of New Frontier Financial in Centennial, Colorado.

One story revolves around Herron’s Michigan childhood and his college training

to become a teacher. After graduation, he realized the regional economy was weak and decided to move to a brighter, more vibrant place . . . Colorado. | Continued »

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