NEB shares key shopping tips for advisors in the market for E&O insurance.
SAN DIEGO, CA, May 15, 2009—Errors-and-omissions insurance is a key business preservation tool today. To help advisors make a wise E&O purchase decision, the National Ethics Bureau (NEB), home of www.eoforless.com, has compiled a list of “The Top Ten Things Every Advisor Should Know about E&O Insurance.”
#1: You need it.
In today’s economy, it’s just too risky to do business without errors and omissions (E&O) insurance. If you’re ill equipped to absorb $20,000 or more to settle a customer claim or spend $20,000 to $100,000+ to fight it, you definitely need E&O insurance. | Continued » |
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National Ethics Bureau Admitted into National Association of Professional Background Screeners
SAN DIEGO, CA, February 23, 2009—The National Ethics Bureau (NEB) has been accepted into the National Association of Professional Background Screeners (NAPBS), the leading national resource for the rapidly expanding background screening industry.
“Being part of NAPBS reflects our commitment to provide comprehensive, reliable background checks to the financial services industry,” says Jeffrey S. Kopitz, NEB President and Co-Founder. “We look forward to tapping into industry best practices in order to further refine our background-check | Continued » |
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The National Ethics Bureau™ (NEB) is a leading advocate for business ethics in the financial services industry. NEB promotes ethical business practices through its trade-magazine columns, conference presentations, monthly newsletter, and website content. It also maintains a membership community of background-checked advisors who have agreed to uphold its principles and membership standards.
NEB also sponsors related services such as Preferred Risk E&O insurance and state-approved ethics and compliance continuing education courses for licensed insurance agents and securities brokers.
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.
For more information, visit www.ethicscheck.com |
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Need Help Buying E&O Insurance? Visit E&OforLess.com |
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The National Ethics Bureau has just launched a new web site designed to help members and non-members shop for errors-and-omissions insurance. The goal of the site is to educate advisors about how to buy high-quality E&O insurance for less.
“The new site provides information about NEB sponsored Preferred Risk E&O insurance,” says NEB Chairman Steven R. McCarty. “We also plan to publish helpful information on avoiding the mistakes that lead to E&O claims.” | Continued » |
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Beware Unlicensed Mortgage Loan Modification “Specialists” |
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Millions of Americans have lost their homes in the current foreclosure crisis. Millions more stand to do so in the future. But they should think twice before doing business with so-called mortgage modification specialists. Such entities, regulators warn, may really just be unlicensed credit counselors.
According to Gavin Gee, director of the Idaho Department of Finance, mortgage loan modification specialists are soliciting homeowners with promises of relief on their mortgage payments. The problem is, they charge for services homeowners could do themselves. Plus the fees they charge can be sizable and nonrefundable, with no assurance of real financial | Continued » |
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| Rogue Advisors on Parade |
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Recent crimes and consequences in the
financial services industry.
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Self-Launch the Ultimate Main-Street Bailout
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At the time I’m writing this, Americans are furious about the recent Wall Street bailout. At a time when many are economically pinched, they are outraged that politicians would consider giving the very companies that created the financial mess a “gift” of such epic proportions. |
Since we are now at year-end, with the crisis hopefully in check, let’s reflect on this a bit. The natural tendency when we read about bailouts is to get angry. Why did Wall Street’s greed get so out of hand? Why didn’t government do something to rein it in? What will the economic impact be on our long-term finances and on the well being of generations to come?
It’s perfectly natural to get angry as we ponder these questions. But anger is pointless. It feels good for a while. But if it lasts too long, it only brings your mood down and saps your energy. Instead, let’s just channel that negative energy | Continued » |
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Focus on “Background Checks” When
Describing NEB |
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How do you describe your NEB membership to prospects and clients? Do you say it’s an association of ethical financial professionals? If so, watch out, because “ethical” can be a problematic term. Here’s why:
- What’s ethical—or unethical—to one person might not be to another.
- A financial professional’s ethics might change over time.
- NEB has no practical way to assess an advisor’s ethics, since we can’t x-ray the quality of someone’s heart.
- Regulators can be skeptical of people or associations who use ethics as a sales tool.
For this reason, we believe the best way to describe NEB is to focus on the key, objective feature that differentiates members from non-members—our comprehensive | Continued » |
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Rocket Man in
Service to Others
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Many financial advisors have the drive to succeed, but lack the wisdom to harness their energy to benefit others. Not Joshua Mellberg, owner of JD Mellberg Financial of Tucson, Arizona. Since starting his own firm in 2004, he has rocketed to success, but has stayed grounded in helping clients achieve safe, secure retirements.
We don’t use the word “rocket” lightly. As a high school freshman, Mellberg had 27 lawn-care accounts, servicing them with a riding mower he bought with his own money. While a student at Western Michigan University, he ran an online |
collectibles business that covered his tuition. In his last year, however, he was $15,000 short, so he ran four construction crews that built lofts for college dorm rooms. He earned the money he needed and ended up graduating with no | Continued » |
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Contact us: Phone: (800) 282-1831 | www.ethicscheck.com
Copyright © National Ethics Bureau Inc. 2009. All Rights Reserved.  |
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