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How important is selling suitable products and what suggestions do you have for doing so?
Posted by National Ethics Association February 20, 2012Ask National Ethics Association… Q: I am a financial advisor who’s required to have errors and omission coverage. What do I need to look for in an E&O insurance policy? A: Before we give you the answer, here’s a short introduction on E&O that may be helpful. Errors-and-omissions insurance, or... -
How important is selling suitable products and what suggestions do you have for doing so?
Posted by National Ethics Association February 15, 2012Ask National Ethics Association… Q: My compliance department talks a lot about suitability. How important is selling suitable products and what suggestions do you have for doing so? A: Your compliance colleagues are right to be focused on suitability. It’s one of the biggest issues in the business right now... -
How can I prevent complaints from arising in the first place?
Posted by National Ethics Association January 24, 2012Ask National Ethics Association… Q: I’ve never received a complaint and I don’t plan to start now! How can I prevent complaints from arising in the first place? A: We commend you for your excellent track record. But you’re right not to become complacent. Here are five ideas for preventing... -
Are you paying too much for Errors and Omissions Insurance?
Posted by National Ethics Association January 7, 2012Ask National Ethics Association… Q: I’m a Financial Advisor who’s paying too much for his errors-and-omissions insurance. Any suggestions for reducing my cost? A: There are a few things you can do to save money. Here are five specific ideas that might help. Take advantage of your clean record. If... -
What are the most important things I should know before buying a policy?
Posted by National Ethics Association December 21, 2011Ask National Ethics Association… Q: I’m a brand-new Financial Advisor who’s never bought errors-and-omissions insurance before. What are the most important things I should know before buying a policy? A: Buying errors-and-omissions insurance can be complex, even for an experienced advisor. Here are ten pointers that will get you started.... -
How can I prevent future errors and omissions claims?
Posted by National Ethics Association December 7, 2011Ask National Ethics Association… Q: I’m a Financial Advisor who just purchased errors-and-omissions insurance. How can I prevent a future claim? A: Start by incorporating this short list of ethical considerations into your financial practice: 1. Never misrepresent yourself Honesty is one of the most important ethical standards for any... -
How can I protect myself from getting sued?
Posted by National Ethics Association October 7, 2011Ask National Ethics Association… Q: It seems like advisor/client relationships are getting more adversarial these days. How can I protect myself from getting sued? A: You’re smart to be thinking about this. Here are ten ways you can lower your odds of getting sued. Tip #1: Be a Consummate Professional.... -
What are the most common E&O claim reasons?
Posted by National Ethics Association October 7, 2011Ask National Ethics Association… Q: I just purchased errors-and-omissions insurance. What are the most common E & O claim reasons? A: Former or current clients usually file lawsuits against their financial advisors or insurance agents because they have suffered a financial loss and blame the advisor or agent for their...