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.

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 […]

Trust’s Poison Pill: Why Conflicts of Interest are Your Worst Medicine

Posted by: EOForLess on May 12, 2015

If client trust is the nutrient that builds healthy financial-services careers, then conflicts of interest are the poison that kills them. Financial manufacturers have given lip service to this truism for decades, as have distributors. But the profits that come from conflicts are hard to deny in practice. However, with the fiduciary standard looming on […]

Variable Annuity Hot Spots: Compliance Tips for the Cautious Advisor

Posted by: EOForLess on May 4, 2015

As a financial advisor, you probably know a great deal about insurance. Consequently, you understand why life and health insurers must exclude certain losses in order to preserve company solvency. But what about the errors-and-omissions insurance you buy for your firm? Do you know what your policy covers exactly and what it doesn’t? In a […]

Customer Service Ethics: Beware the Dark Side

Posted by: EOForLess on April 1, 2015

Years ago, an NEA team member worked for a large auto insurance company as a claims service representative. He was part of the front line team responsible for taking accident reports from the company’s customers. It was a low-paying, high-stress job, held by a motley staff of college students, teachers, and working moms. The team […]

Are Robo-Advisors Winning? Time to Play the Ethics Card

Posted by: EOForLess on March 23, 2015

Are human financial advisors engaged in a life-or-death struggle with Internet-based investment services, also known as “robo-advisors”? If you read the industry trade press, you’d be hard-pressed not to draw that conclusion. “Will Financial Advisors Become Obsolete,” asks one article. “Robo-Advisors Expanding Rapidly,” warns another. “Eliminate the Robo Threat,” commands a third. If you derive […]

Regret Nothing: Five Lessons from Rogue Advisors, Part 1

Posted by: EOForLess on March 12, 2015

When you’re on your deathbed, will you regret having spent so much time at the office? Probably not, say healthcare workers who counsel patients in their final days. In fact, one such worker, Bronnie Ware, an Australian palliative care nurse, collected her patients’ disappointments on her blog, eventually publishing a book on the topic called […]

Conscious Uncoupling: Seven Ways to Fire Clients Ethically

Posted by: EOForLess on February 26, 2015

“Firing clients.” Now that’s something that gets a lot of attention these days, in part because it conflicts with the traditional notion of the customer always being right. But experts say some clients are so troublesome and so expensive to serve that you must fire them in order to protect your bottom line, your staff […]

The Truth about Client Lies . . . and What to Do About Them

Posted by: EOForLess on February 16, 2015

“Lying is an elementary means of self defense,” said American author and critic Susan Sontag. Many financial advisors would surely agree with that statement. Every day, they encounter prospects who lie in order to deflect their sales efforts. And even after they buy, clients may continue to deceive in order to cloak their inability (or […]

Regret Nothing: Five Lessons from Rogue Advisors, Part 2

Posted by: EOForLess on February 9, 2015

In your final days, will you regret having worked too hard? Bronnie Ware, the Australian palliative care nurse we wrote about in Part 1 of this series, says many people have that and several other common regrets at the end of their lives, which she discusses in her book “The Top Five Regrets of the […]

Regret Nothing: Five Lessons from Rogue Advisors, Part 1

Posted by: EOForLess on January 29, 2015

When you’re on your deathbed, will you regret having spent so much time at the office? Probably not, say healthcare workers who counsel patients in their final days. In fact, one such worker, Bronnie Ware, an Australian palliative care nurse, collected her patients’ disappointments on her blog, eventually publishing a book on the topic called […]

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