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.

Advertising Compliance Basics: 25 Ways to Avoid Nasty Outcomes

Posted by: EOForLess on August 13, 2015

We’ve often said the vast majority of financial advisors are ethical and would no sooner rip off Grandma or Grandpa than lop off their own right arm. However, it’s also fair to say a much larger percentage of advisors have ethical or compliance lapses through ignorance, inattention, or just sheer sloppiness. This is especially true […]

CEX Sells: Why Service Trumps Sales for Financial Advisors

Posted by: EOForLess on August 13, 2015

Have you ever failed to return a customer call because you were busy with a sales proposal? Do you spend more time planning a new sales seminar than on holding client appreciation events? Does bringing on a new client excite you more than hearing from a long-term client? If so, you’ve fallen prey to the […]

Personal Finance Journalism: Meeting the Challenge of “Expert” Bias

Posted by: EOForLess on August 13, 2015

How many times have you read a personal finance article in a major magazine or newspaper and tossed it on the table in disappointment. Or watched a show from a financial “superstar” such as Suze Orman and turned off the TV in disgust. Sadly, much of what purports to be financial advice in the media […]

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 […]