EO Headquarters

Our E&O HQ provides insight, guidance, and resources enabling ethical business practices and claim avoidance. Stay on top of the latest news, trends, & compliance at our E&O Headquarters sponsored by National Ethics Association. For more resources visit our sponsor’s Consumer Hub & Ethics Center pages.

Relearning the Neasham Lesson: Client Incapacity Still a Big Threat

Posted by: EOForLess on July 15, 2015

By EOforLess 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 later diagnosed with dementia. Although Neasham’s conviction was eventually overturned on appeal and his insurance license restored, he suffered extreme reputation damage and lost his insurance license, business, […]

Need a Better Sales Technique? Look in the Mirror

Posted by: EOForLess on July 15, 2015

By EOforLess Sales ideas are great because they encourage financial advisors to try different methods of selling. But they can be dangerous too, because they promote antiquated notions about the contemporary sales process. Here’s what we mean: When you view sales as technique driven, you view it as something you do TO a prospect. You […]

Annuity Perks: Corrupting the Business or Moving It Forward?

Posted by: EOForLess on July 15, 2015

By EOforLess People either love or hate U.S. Senator Elizabeth Warren. Both sentiments became even more fervent in late April 2015 when she announced her investigation into the non-cash compensation practices of annuity insurers. Many annuity agents and companies decried her efforts to shed light on the “vast range of perks (paid) to entice sales.” […]

Claims Made and Reported E&O Policies: What You Should Know

Posted by: EOForLess on July 14, 2015

Most real estate errors and omissions insurance policies are insured via a “claims made and reported” insurance policy. The term claims made and reported can be difficult to grasp. Our goal is to help in explaining these types of policies so there is a better understanding of the advantages and disadvantages. Claims made policies trigger […]

Ten Most Frequent Real Estate E&O Claims, Part 1: Fraud, Breach of Duty

Posted by: EOForLess on July 14, 2015

By Lana Schroeder, Esq., Rice Insurance Services Company, LLC   It is no secret we live in a litigious society made worse by a difficult market economy. Lawsuits are filed every day in every part of the country. There are no guarantees that you will never receive a demand letter or be named in a […]

EOforLess Enters Real Estate Industry with Groundbreaking “Click and Bind” Technology

Posted by: EOForLess on June 22, 2015

EOforLess.com makes professional liability insurance buying easier, faster, and more affordable for low-risk brokers and broker-owners. SAN DIEGO, CA, July 15, 2015— Real estate professionals are one transaction away from getting hit with a professional liability lawsuit. Always a risky business, selling real estate became even riskier after the 2007/2008 economic melt-down, the impact of […]

Involved with Reverse Mortgages? Be Careful

Posted by: EOForLess on June 10, 2015

As more and more boomers reach retirement age, the need for them to create retirement income will become more acute. This is especially true for the 41 percent of Americans between the ages of 55 and 64 who have no retirement savings at all. Without funds stashed away, many will turn to their home equity […]

The Perils of Puffery: Guidance on Plagiarism and Ghostwriting

Posted by: EOForLess on June 2, 2015

If your marketing brochure claimed you were the best financial advisor in America, few people would believe you, since there’s no practical way to compare all advisors to determine the single greatest one. In fact, the U.S. Federal Trade Commission (FTC) has said advertising puffery does not warrant enforcement action because it’s so ludicrous as […]

Variable Annuity Hot Spots: Compliance Tips for the Cautious Advisor

Posted by: EOForLess on May 28, 2015

Do you sell a lot of variable annuities? Then you surely know they attract regulatory scrutiny like magnets pick up metal shavings. The good news is it’s easy to ward off problems by avoiding certain “hot” practices. There are five main ones, experts say: Inadequate/improper disclosures Insufficient prospect/client education Abusive sales tactics, especially of seniors […]

Working for the Affluent: Gravy Train or Ethical Train Wreck?

Posted by: EOForLess on May 20, 2015

Serving rich clients isn’t a panacea. Bud Fox, the neophyte broker in the classic film “Wall Street,” learned this the hard way. Remember the film’s Shakespearan plot? Fox (Charlie Sheen), an ambitious junior trader, decides to win corporate raider Gorden Gekko (Michael Douglas) as a client. Gekko, ruthless and slick, brushes him off, but Fox […]