Massachusetts P&C agency hit with $2 million+ judgment for failing to advise on adequate...
Recent jury verdict stemming from a 2010 fire incident proves a cautionary tale about the necessity of advising clients to secure adequate coverage.
Securities Suitability: What brokers need to know to stay out of trouble
Suitability remains an issue of concern for financial services regulators. Even though regulatory bodies have promulgated tighter regimens for assuring suitable sales, especially to...
Insurance Suitability: It’s back-to-basics time!
Suitability is a perennial issue in financial services. It’s based on a presumably elementary and unobjectionable concept: that advisors shouldn’t sell a product to...
At war with your customers? Four attitude shifts to make now!
Life and health and property-casualty insurance agents (and investment advisors) arguably are in business to serve their customers. Despite this universal truth, too many...
10 ways to close the client expectations gap
The great physicist Stephen Hawking once said, “When one’s expectations are reduced to zero, one really appreciates everything one does have.”
I wish more people...
Advertising compliance guidelines: 25 ways to avoid nasty outcomes
I’ve often said the vast majority of financial advisors are ethical and would no sooner rip off Grandma or Grandpa than lop off their...
Relearning the Neasham Lesson: Client incapacity still a big threat
It’s been several years now since Glenn Neasham, a California financial advisor, was arrested and convicted of selling an annuity to a woman who was...
Apology accepted: How to really make amends with customers
As a financial advisor, you’ve no doubt made your fair share of mistakes. And hopefully you’ve apologized to your client(s) afterward and promised to...
E&O on the Fly, Part 2: Quick quiz highlights what you need to know...
As a financial advisor, you probably know a great deal about insurance. Consequently, you understand why life and health insurers must exclude certain losses...
Variable Annuity Hot Spots: Compliance Tips for the Cautious Advisor
Do you sell a lot of variable annuities? Then you surely know they attract regulatory scrutiny like magnets pick up metal shavings. The good...