National Ethics Bureau Develops Case Study That Shows Advisors the Key to Winning with Compliance
SAN DIEGO, CA, October 26, 2009—To help financial advisors play by the rules and win, the National Ethics Bureau has developed a “Compliance Playbook” that shows advisors how to avoid regulatory problems and build successful practices.
Developed for Senior Market Advisor magazine, NEB’s case study shows how a hypothetical advisor avoids regulatory problems by adhering to 20 key compliance | Continued » |
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NEB and ProducersWEB.com Peer into Future with TrendWatch 2.0 Podcast Series.
SAN DIEGO, CA, September 1, 2009—To help financial professionals benefit from emerging industry trends, National Ethics Bureau (NEB) has once again partnered with ProducersWEB.com to produce a monthly podcast series. Entitled Trendwatch 2.0, the series is available exclusively on ProducersWEB | 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 an affordable errors-and-omissions program and state-approved ethics and compliance CE 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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Build Your NEB
Knowledge Here
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This month, our highlighted FAQ questions deal with NEB sponsors, our ethics advocacy role, and serviced provided to the public.
26. What is an NEB Sponsor and are Sponsors considered NEB members?
NEB forms relationships with organizations such as broker dealers, financial marketing organizations, real estate agencies, accounting firms, and insurance companies in order to promote ethical conduct in financial services, and to pass along a group discount rate to their agents and brokers. There is no fee to become an NEB sponsor. However, all sponsors must agree to regularly disseminate NEB’s ethics and compliance information. Sponsors are neither endorsed by, nor are they members of, the National | Continued »
Complete FAQ document click here. |
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Don’t use rumors to
drive life and annuity replacements |
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When you hear a negative rumor about a life insurer’s financial health, what do you do?
A. Try to confirm it using credible sources of information.
B. Keep your clients informed about legitimate threats to a company’s solvency.
C. Research financially stronger companies who provide comparable products.
D. Launch an immediate campaign to roll all of your clients into policies with another carrier.
If your answer was D, watch out. That’s because you’ll be in hot water in most states that have advertising and replacement regulations. Case in point: A recent bulletin from Susan E. Voss, Iowa’s Insurance Commissioner, reminds agents not to use rumors to generate replacement sales. | 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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Due Diligence? Get Serious (Part 2)
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Last month, I discussed how due diligence went past due in our business . . . with devastating |
results. This month, I’d like to talk about the resurgence of due diligence—and what it all means.
Clearly, the lack of due diligence has affected your clients both objectively and subjectively. Objectively, many have lost tremendous wealth due to the economic meltdown that resulted in part from bad due diligence. Subjectively, Wall Street incompetence, greed, and malfeasance has transformed client good will and trust into worthless derivatives.
Not to beat a dead bull, but the Bernie Madoff scandal has had an incredibly damaging impact. Clients are now asking themselves, “How could this have happened?” “Why were regulators asleep at the switch?” “Can I trust my own advisor?” | Continued » |
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| Repetition Is Crucial to Your NEB Success |
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Repetition is the mother of all marketing success. So it shouldn’t surprise you that to get the most value from your NEB membership, you need to frequently communicate your NEB affiliation to your contacts. At a minimum, here’s what you should be doing:
- Send an e-mail and/or letter to prospects and clients letting them know you’ve been accepted into membership.
- Upon renewal, communicate that fact again.
- Mention your NEB affiliation on your Facebook and LinkedIn pages. | Continued »
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Tip #2 -Dig for Needs
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Do a complete fact-finder and document the needs you find. Then link your recommendations to the client’s documented needs. |
Brought to you by the National Ethics Bureau, sponsor of Preferred Risk E&O insurance for qualified advisors. To see how much you can save, visit www.eoforless.com.
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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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