1. Content Marketing Articles (Bylined/Ghosted): A Financial Services Portfolio
National Association of Professional Agents (NAPA)
You're accountable to your clients, but are they to you? Here's how to establish the proper ground rules for every planning appointment.
With the advent of the Internet, being able to buy books, music, flowers, or, well, just about anything online became a powerful purchase driver. When you no longer needed to drive downtown or to the mall to buy, the motivation to do so became all the greater.
Insurance Forums
10/12/2015
The financial services trade press is full of stories about life and health insurance agents and investment advisors who failed to say no. Case in point: John Paul Slawinski, who in 2014 went to jail for nine years and was ordered to pay $3.4 million in restitution.
National Association of Professional Agents (NAPA)
Do you lack confidence in your ability to succeed as an investment advisor or wealth manager? You may be suffering from Investment Advisor Imposter.
National Association of Professional Agents (NAPA)
1/23/23
AI and automation threaten financial advisors. But their victory is far from assured.
National Association of Professional Agents (NAPA)
01/23/2023
Tips for insurance agents to keep their computer systems and data safe.
National Association of Professional Agents (NAPA)
Artificial intelligence (AI) has changed many industries, and insurance is no different. The question is, how has it affected agents.
National Association of Professional Agents (NAPA)
The effect of inflation on insurance agents has been profound this year. Need tips for managing the crisis? You've come to the right place.
The world has gone gaga over Bitcoin investing. That doesn't mean you should. Here's why caution is in order.
Financial advisors typically view compliance as a necessary evil. They don't always enjoy managing their regulatory obligations, but they do it because they must.
Insurance Forums
07/14/2015
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."
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.
Insurance Forums
06/24/2015
For just about every financial scam that comes to light, we're willing to bet the following is true: The telltale fraud signs were visible to many observers. Financial professionals were "blind" to predatory colleagues or competitors because they were afraid to get involved. More people got hurt than should have had someone blown the whistle.
Selling insurance is a rewarding career, both in terms of finances and personal satisfaction. But it also produces a lot of stress. Read on to learn how to manage it.
Websites in the registered investment advisor (RIA) business are no longer just a cool tech toy. They have become essential engines for business growth. Is your firm's website attracting prospects and converting them into clients?
National Association of Professional Agents (NAPA)
The COVID-19 pandemic has frozen economic activity. Have you reacted by cutting expenses? If so, be careful about cutting essential insurance.
National Association of Professional Agents (NAPA)
Car accidents. Serious illnesses. Natural disasters. Deaths in the family. These are all part of the human condition. Also part of being human is the belief that nothing bad will ever happen to you. As an insurance agent, for instance, you might tell yourself you'll never get sued because you run your business "by the book."
National Association of Professional Agents (NAPA)
Have you been on the receiving end of a client complaint or lawsuit? If so, you're not alone.
Neasham’s case sent shivers of fear across the annuity marketplace, in part because it appeared the State of California viewed these products and the agents who sell them with extreme prejudice.
National Association of Professional Agents (NAPA)
Insurtech ventures have captured the imagination of the insurance industry. But will on-demand insurance websites challenge human agents? It's a bit too early to know.
Marketing an insurance agency isn't a simple task. Start with these five essential tips and build from there.
Insurance Forums
08/10/2015
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 Suzi Ormanand turned off the TV in disgust.
Most experts agree competing on price is not sustainable in the insurance business. A better approach: stressing value.
National Association of Professional Agents (NAPA)
With the challenges of pandemics in the modern healthcare system, employers are being forced to consider possible changes to insurance programs.
2. Insurance, Financial, and Small Business: White Papers
Gallagher Affinity
7/24/23
The insurance industry, managed conservatively
for hundreds of years, is surfing a mega-wave
of technology change. The wave, called artificial
intelligence (AI), is washing over every function in
the business.
Gallagher Affinity
7/24/23
Guidance for how to earn a charter boat captain's license.
360 Coverage Pros
6/26/2023
A guide to purchasing the right veterinarian malpractice insurance
360 Coverage Pros
3/15/23
Don't ignore the fine print of being a travel professional.
360 Coverage Pros
4/15/22
Here's your fast track to success in the dynamic travel industry.
Financial advisor education to help them work effectively with multi-generational clients
Financial advisor education to help them assist clients with health-care panning
Business Success Tools LLC
White paper on business lifecycles for clients of a management consultant/coach.
3. Consumer Education: Insurance, Financial Services, and More
Learn how business renters insurance can help protect commercial property. Know what's covered and how much small business renters insurance you need.
Do you need business theft insurance? Learn how to secure your small business against robbery and read tips to help prevent commercial crime.
Who's in charge of commercial insurance for a rental property? Learn how rights and responsibilities are divided between landlord and business tenant.
If you have business insurance, will it cover theft? Learn if theft, robbery or burglary could be covered, and how to choose a small business policy to protect you.
What is limited liability insurance? What is general liability? Learn the difference and compare to make the right choice for your small business.
As a small business owner, you will frequently need to show that you have liability insurance. Enter the Certificate of Insurance (COI), a short document demonstrating you have enough insurance protection.
National Association of Professional Agents (NAPA)
Windows computer or Mac? iPhone or Android? Domestic or foreign car? So many decisions in life revolve around "great debates." The problem is, what starts out as debates over facts eventually deteriorate into battles over emotions, biases and entire belief systems . . .
National Association of Professional Agents (NAPA)
Have you ever gotten into a "great debate" with a client or colleague about what form of life insurance is best . . . term or whole life? Then you no doubt noticed how hard it is to win this argument.
National Association of Professional Agents (NAPA)
Buying E&O insurance is not most agents' favorite activity. You need coverage in order to write business through sales intermediaries and insurers. You have a sense of how much you need and what you're willing to spend. But you don't want to spend a lot of time researching products or getting quotes.
National Association of Professional Agents (NAPA)
Are you a little fuzzy about E&O insurance for insurance agents and financial/investment advisors? No worries...read our crash course on what it is, how it works, and why you need it.
National Ethics Association (NEA)
Years ago, a million-dollar financial fraud was big news. Now, $50-million and even $50-billion financial scams have become almost commonplace. But they’re anything but routine to the consumers who have lost their life savings.
Brochure for financial distributors and their clients addressing key buying objections
Prudential Annuities
08/01/2007
Do you have a specific formula for investing money in various asset classes? If so, you are an asset allocation
investor. If not, you may want to consider this important investment strategy.
Basic questions and answers about one of the most important retirement-security tools: annuities.
Ah, to retire at age 50 and live happily ever after. Have you ever had this dream? Do you still have it
today? You still may, but you might be confused about how to achieve it.
Insurance Forums
04/01/2015
Insurance agents, financial planners, and investment advisors are highly skilled at understanding how financial instruments work. They are accustomed to doing due diligence on a wide range of financial offerings, including life insurance, disability insurance, annuities, and securities of many types.
Insurance Forums
06/02/2015
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?
4. Marketing Brochures
CAST Management Consultants, Inc.
The Summit Project: Achieving Peak Performance through Organizational Transformation
Avanza Communications, LLC
Avanza Communications, LLC financial content-development capabilities
5. Insurance Agents: Content Marketing Articles (Bylined/Ghosted)
National Association of Professional Agents (NAPA)
The last thing you need is a lawsuit. Here are some pointers on how to avoid E&O claims. Most insurance agents will never get sued. But a...
National Association of Professional Agents (NAPA)
Want to take your insurance agent book of business to the next level? This article will help you get started. Growing your insurance book of...
360 Coverage Pros
02/13/2023
Will AI lead to revolutionary change in the insurance business?
Insurance Forums
09/16/2015
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 adopted Hawking's mindset, a man whose physical disabilities never prevented him from pondering the mysteries of the universe.
National Association of Professional Agents (NAPA)
4/03/2023
Useful guidance for accelerating the launch of your new insurance business.
National Association of Professional Agents (NAPA)
3/13/23
A YouTube learning extravaganza for insurance agents.
National Association of Professional Agents (NAPA)
3/29/23
Trust is a must in the financial advisory business. It’s an obvious truth, but being obvious doesn’t make it less truthful.
National Association of Professional Agents (NAPA)
Tips for insurance agents to keep their computer systems and data safe.
National Association of Professional Agents (NAPA)
Success as an insurance agent takes work. Read on to learn about common challenges. Investopedia says more than nine out of ten life insurance...
National Association of Professional Agents (NAPA)
It's easy to break into insurance sales but hard to succeed at it. A slow and steady approach should produce a better outcome. If you're...
National Association of Professional Agents (NAPA)
When clients have losses, your client claim advocating can spell the difference between creating a satisfied client or a litigious one. Below are...
Insurance Agent Interests 10/04/2022 Are retirements decimating your insurance agency? Here's how to find some great young replacements. Half of the insurance employees working today are planning to retire over the next 15 years, leaving 400,000 job vacancies in their wake. What's more, the independent property-casualty business is becoming increasingly gray.
Are you planning to become an insurance agent? If so, you need to learn how to earn your agent's license and then keep it in force.
Are you an insurance agent getting ready to retire? If so, it's time to consider whether to sell your entire business or just your book of business.
f you're planning to sell your business, watch out for the E&O coverage gap. Here's how to protect yourself.
National Association of Professional Agents (NAPA)
Insurance agents typically must complete 24 hours of continuing education (CE) credits every two years. Here's how to make this process as simple...
You never know when your first- or next- client lawsuit will happen. But errors & omissions (E&O) insurance can shield your assets against it.
E&O insurance not only mitigates risks, it helps you pursue sales opportunities.
Taking good care of your clients after the sale will unlock years of future revenue. Learn how to do it here.
With the challenges of pandemics in the modern healthcare system, employers are being forced to consider possible changes to insurance programs, including surcharges for employees who remain unvaccinated.
As an insurance agent, you're primarily a sales professional. But you must also follow accounting best practices to track your business finances.
Want to have an immediate positive impact on your bottom-line performance? Then implement our top tips for retaining more insurance clients.
Want to become an insurance broker? Then follow this simple process to achieve a rewarding and sustainable career.
Insurance Forums
10/07/2015
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 view them as the enemy, both during the acquisition and retention phase of the customer relationship.
Have you paid your dues as a captive insurance agent? Then you may be ready to go independent to better serve your clients.
Do you plan to continue selling virtually in 2022 or increase your activity? Then here are some ways to get ready.
As an insurance agent, closing sales is where the rubber meets the road. But using closing techniques that don't alienate prospects is essential.
Earning your insurance agent license is just half the battle. Now you need to protect it against state suspension or revocation. Here's what to do.
Selling insurance is a rewarding career, both in terms of finances and personal satisfaction. But it also produces a lot of stress. Read on to learn how to manage it.
Millions of insurance agents are transitioning out of the business. Will there be enough young agents to replace them?
Marketing an insurance agency isn't a simple task. Start with these five essential tips and build from there.
Want to have an immediate positive impact on your bottom-line performance? Then implement our top tips for retaining more insurance clients.
Insurance agents often face a pivotal decision after spending a few years in the business: remain captive or go independent. Here are the pluses and minuses of each career path.
Successful insurance agents don't generate high sales volume by accident. They do so because they channel their personality traits and behaviors in productive ways. This article shows you how to do just that.
Disappointed clients often look to the legal system for relief. Fortunately, as an agent or broker, you can mitigate your risks through E&O insurance and sound business practices.
For the right person, selling insurance is the perfect career opportunity. It offers high-income potential, job security and a sense of purpose. Read on to learn more about this field and how to enter it.
National Association of Professional Agents (NAPA)
A technology wave is cresting over the insurance industry. Will agents ride it successfully or wipe out?
If you're hoping to break into the insurance sales business, developing a sustainable lead-generation system is job one. Get important advice here.
If you're running your agency using paper forms and manual procedures, it's time to consider the benefits of using a computerized insurance agency management system (IAMS).
Insurance agents are flocking to social media platforms as a way to grow their businesses. If you're ready to join in, check out our best practices here.
National Association of Professional Agents (NAPA)
Do you use your blog to educate prospects and clients about insurance and financial planning? Do you post booklets or white papers on your website to attract visitors? Do you produce a podcast or post content on YouTube to connect with people who like their content in audio or video format?
COVID-19 has produced a surprising upside: a surge in new business formation, especially of small firms. Are you ready to capitalize on this insurance sales opportunity?
National Association of Professional Agents (NAPA)
Why do insurance agents get sued? Typically, it's because they do or say the wrong things, creating a financial loss for their clients. However, "wrong" can result from many different actions or statements and can vary based on an agent's license type.
Have you embraced virtual selling or resisted it? Are you experiencing good results from it or are you unhappy with your experience? Read on for guidance on how to use remote selling to your advantage.
Has your customer service become more virtual in the wake of the global pandemic? If so, here are some tips to take it to the next level.
National Association of Professional Agents (NAPA)
Not all insurers are created equal. Admitted carriers may provide greater financial protections than non-admitted ones. Complete your due diligence before you decide.
National Association of Professional Agents (NAPA)
It's impossible to avoid stress in everyday life. It's even more difficult if you're a financial professional. Given the ubiquity of stress, it's crucial to manage it so you can remain productive at work.
Remote work has become increasingly popular these days. But don't try it without first analyzing its pluses and minuses, along with the legal and insurance implications involved.
National Association of Professional Agents (NAPA)
The "graying" of insurance distribution is an existential crisis for the industry. If you're approaching retirement age, you can be part of the solution by developing a succession plan.
National Association of Professional Agents (NAPA)
Insurance companies today are experimenting with direct-to-consumer (DTC) sales. Frustrated? Don't be. Just learn from their experience and revise your business model and marketing approach accordingly.
Insurance Forums
11/11/2015
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 anyone who doesn't have a need for it and whose financial resources and risk profile make buying such a product inappropriate.
National Association of Professional Agents (NAPA)
The COVID-19 pandemic has frozen economic activity. Have you reacted by cutting expenses? If so, be careful about cutting essential insurance.
Insurance Forums
12/07/2015
Suitability remains an issue of concern for financial services regulators. Even though regulatory bodies have promulgated tighter regimens for assuring suitable sales, especially to seniors, evidence persists that financial advisors often recommend unsuitable products and/or fail to document the discussions they have with clients about risk and appropriate product solutions.
National Association of Professional Agents (NAPA)
The plusses and minuses of the gig lifestyle.
National Association of Professional Agents (NAPA)
Need prospects? Then consider targeting people who either find their own work or participate on a gig platform. You'll find they have gaping holes in their insurance safety net.
National Association of Professional Agents (NAPA)
We live in the age of social media. According to Pew Research Center's Internet Project, roughly three out of four online adults use social networking sites such as Facebook or Twitter. A similar number of financial advisors use online platforms for work, according to a study from Cogent Reports/Market Strategies.
National Association of Professional Agents (NAPA)
E&O claim prevention often focuses on laws, regulations and business practices. Dropping the ball in these areas can spark lawsuits. However, if you run your business by the book, the presumption is you'll easily ward off litigation. To some degree, this assumption is true. But it's missing one key element: the human factor.
National Association of Professional Agents (NAPA)
Do you sell property-casualty insurance, but are interested in trying life insurance sales? Are you in real estate, but are curious about becoming a life insurance agent? Are you looking to enter life insurance sales from a non-sales profession, but aren't sure it's feasible?
As a life insurance agent, what's your least favorite part of the business? Making sure prospects accurately answer health-history underwriting questions? Assuring they make their paramed appointments? Waiting too long for an underwriting decision, which delays your commission check? Chances are you agree with all of these.
National Association of Professional Agents (NAPA)
Given mounting reports of cyberattacks on financial services firms, it's easy to succumb to anxiety about how to respond. Should you just keep your head down until the attacks stop, assuming your firm is too small for hackers to care about? Or take action by teaching yourself defensive best practices?
National Association of Professional Agents (NAPA)
Welcome to the Age of Mistrust . . . a time when people question the truth of what they read and doubt the integrity of those they meet. It's an era in which skepticism has replaced faith and in which consumers are not surprised when a trusted advisor becomes a scoundrel.
National Association of Professional Agents (NAPA)
Selling virtually is becoming increasingly popular in the insurance industry. But to build trust and close sales on video chat, you have to know what you're doing.
National Association of Professional Agents (NAPA)
The 2017 National Insurance Awareness Day has come and gone. But awareness of life insurance could still use strengthening, according to LIMRA, a life insurer trade association. But agents who speak with prospects and clients about their life insurance needs stand to benefit tremendously from filling the awareness gap.
National Association of Professional Agents (NAPA)
Are you a "buy-and-hold" type investor? Many agents and advisors adopt the same approach to lead generation. They rely on a handful of techniques...
National Association of Professional Agents (NAPA)
American consumers have a large life insurance coverage gap. There's no better time to raise and solve this issue than during September's Life Insurance Awareness month.
National Association of Professional Agents (NAPA)
Imagine if most of your new clients came from referrals. No more cold calling. No more buying cold leads or Google Ads. And certainly no more expensive free-meal seminars that take hours to deliver.
National Association of Professional Agents (NAPA)
Financial professionals such as insurance agents, investment advisors, or real estate agents aren't immune to IRS-related scams. You may think your tax return is safe because you're more sophisticated than the average consumer. But it's not, because you're sitting on significant amounts of valuable information-both your own and your clients-which puts a big cyber target on your back.
National Association of Professional Agents (NAPA)
f you've been a successful insurance agent for a while, you probably have figured out how to market and sell your products and services in order to make a comfortable living. But you can always get better.
National Association of Professional Agents (NAPA)
t’s been a stormy health insurance marketplace over the last ve years. As the realities of the Aordable Care Act hit home, producers have often found themselves on the outside of their business looking in.
National Association of Professional Agents (NAPA)
As the 2018 Affordable Care Act (ACA) enrollment clock ticks down to its December 15, 2017 conclusion, agents across America are asking themselves, "Why did I subject myself to yet another chaotic ACA enrollment?"
National Association of Professional Agents (NAPA)
Many insurance agents think errors and omissions insurance is a commodity purchase, with all policies offering the same protection. However, nothing could be further from the truth.
Insurance Forums
12/21/2015
Facebook teems with people angry about their bad restaurant meals or a fellow citizen's sloppy driving. Before the advent of social media, they may have simply left a penny for a tip or shaken their fist at the errant driver. Today, however, they dump their anger directly onto the Internet.
6. Registered Investment Advisors: Content Marketing Articles (Bylined/Ghosted)
National Association of Professional Agents (NAPA)
2/13/23
Cautionary cyber tales for registered investment advisors.
National Association of Professional Agents (NAPA)
The year ahead will feature challenges and opportunities for America's RIAs. Are you buckled in? After a turbulent 2022, registered investment...
National Association of Professional Agents (NAPA)
4/7/23
Regulators and custodians now require registered investment advisors (RIAs) to buy errors and omissions (E&O) and cyber insurance. Consider your options carefully so you don’t purchase low-quality coverage that might cost you more in the long run.
National Association of Professional Agents (NAPA)
You're accountable to your clients, but are they to you? Here's how to establish the proper ground rules for every planning appointment....
National Association of Professional Agents (NAPA)
Do you lack confidence in your ability to succeed as an investment advisor or wealth manager? You may be suffering from Investment Advisor Imposter...
Investment Advisor Interests 11/30/2022 You've probably heard about holistic financial planning. But what does it mean, and is it right for you? We have answers. If you're like most financial advisors, investment planning and management are the mainstays of your business. But today, more advisors are considering adding holistic financial planning into their practices.
Your senior clients can become targets of financial exploitation. Are you ready to protect them against determined fraudsters and abusers? As an investment advisor, you're no stranger to seeing senior financial fraud and abuse. Perhaps you've seen an elderly client lose money to a predatory relative or send money to an internet or telephone scammer.
Investment Advisor Interests 10/26/2022 Do you work so hard that you feel stressed out? Welcome to RIA burnout. Fortunately, there's a better path. Read about it here. Being a wealth manager or registered investment advisor (RIA) isn't a walk in the park. Sure, the financial rewards can be high, but the required work can be punishing.
Investment Advisor Interests 08/12/2022 If you're starting an RIA firm or evaluating its current compliance program, focus on these nine major requirements. The governing statute for registered investment advisers (RIAs)- the Investment Advisers Act of 1940 - has existed for more than eight decades, amended twice, and is packed with rules and regulations.
Investment Advisor Interests 08/02/2022 E&O claims don't just happen to other RIAs. If you're not careful, they can happen to you. "How do I sue thee?" Registered Investment Advisor (RIA) clients might ask. "Let me count the ways."
National Association of Professional Agents (NAPA)
Are you hearing from panicked clients during these financially volatile times? Here's how RIAs and financial advisors can keep them focused on their long-term investment goals and results.
Investment Advisor Interests 09/09/2022 Are you on track to end 2022 on a positive note? Follow these steps to make sure you are. "What doesn't kill you makes you stronger," says the old German proverb. If your firm is still operating after two years of a global pandemic, it must be strong, right?
Investment Advisor Interests 10/18/2022 As registered investment advisors (RIAs) have digitized their firms, the risk of data breaches has grown significantly. Loss exposures have intensified, and so has the danger of attracting regulatory scrutiny should your firm fail to safeguard customer data. Even though cybersecurity has become a hot-button issue in recent years, it's not exactly new.
Investment Advisor Interests 01/13/2022 Cyberattacks are increasing against registered investment advisors (RIAs). If you don't adequately protect yourself, your hard work could be erased as easily as a hard drive hit by an electrical surge. Major RIA Cyber Risks There are countless varieties of cyber incidents, both deliberate and accidental.
Are you looking to grow your RIA firm's client base? Then make sure you're taking full advantage of digital marketing techniques, along with the traditional method of asking for referrals. Registered investment advisors (RIAs) typically grow through some combination of advertising, direct mail and cold calls.
Investment Advisor Interests 07/06/2022 A digital customer experience can be highly effective in retaining RIA clients. The starting point: customizing it to meet their individual needs. Digital technology has revolutionized the investment-advisory business. Though many observers think it has made RIAs more efficient but less personal, nothing could be further from the truth.
Business Development 09/07/2017 Do you use your blog to educate prospects and clients about insurance and financial planning? Do you post booklets or white papers on your website to attract visitors? Do you produce a podcast or post content on YouTube to connect with people who like their content in audio or video format?
Investment Advisor Interests 10/04/2021 "Breaking away" is a common term used to describe securities registered representatives who leave their wirehouse broker-dealers to leverage the financial advantages of the RIA channel. But it's also used when current IARs need to find a more hospitable home for their talents, creating their own companies if no other opportunity fits the bill.
Investment Advisor Interests 09/10/2021 Working as a registered investment advisor (RIA) has its rewards. But heavy compliance requirements can be a downside. Here are some of the major issues RIAs must contend with. One way to limit your registered investment advisor (RIA) liability exposure is to effectively handle your compliance obligations.
Investment Advisor Interests 04/29/2021 Have you segmented your client base according to financial or other criteria? If not, you may be missing out on an opportunity to optimize your firm's performance. Client segmentation-defined as categorizing your customer base by key factors in order to optimize service delivery and profitability-has become an industry best practice.
Investment Advisor Interests 04/13/2021 Will the Biden Administration be a net plus or negative for America's registered investment advisors (RIAs)? It's too soon to tell. But one thing is certain: change is coming in five key areas. The presidential election of Joseph Biden represents a sea change for registered investment advisors (RIAs) and their clients.
Investment Advisor Interests 04/08/2021 Nearly all RIA owners agree that succession planning is important. But too few are actually doing it. Read on to learn why getting started is essential and how to do so. Maintaining continuous service to your clients may be the most important commitment you make as a registered investment advisor (RIA).
Investment Advisor Interests 09/23/2021 The rewards of becoming a registered investment advisor (RIA) have been well documented. For the right person transitioning from the securities brokerage, insurance or financial-planning fields, the financial, personal and intellectual benefits are substantial. However, becoming an RIA is a complex challenge.
Investment Advisor Interests 08/03/2021 When should RIAs keep or drop their FINRA registration? It's a tricky question with serious consequences. Get answers here. As a registered investment advisor (RIA), you're well aware of your Securities and Exchange Commission (SEC) or state registration requirements. But should you also register with the Financial Industry Regulatory Authority (FINRA)?
Investment Advisor Interests 01/05/2021 Collaborating with Centers of Influence can be an excellent way to generate prospects for your RIA firm. It can also help you to serve more client needs. Are you taking full advantage of this opportunity? Technology-driven marketing-posting on social media, writing for blogs and conducting webinars-is all the rage for registered investment advisors (RIAs).
Investment Advisor Interests 07/14/2020 If you're a "breakaway broker," don't assume your prior E&O insurance will cover you at your new RIA firm. Here's what you need to know. Over the last two decades, increasing numbers of securities brokers have migrated to the independent registered investment advisor (RIA) channel from the traditional broker-dealer channel.
Bank Insurance and Securities Marketing
2011
Ghostwritten article motivating financial professionals to get serious about retirement-income planning.
Thought leadership article written for Prudential Annuities
It stands to reason the best-educated, most diverse generation in U.S. history will one day become a highly profitable marketplace for registered investment advisors (RIAs). Whether millennials will pan out for you depends on how well you understand them-who they are and what they want-and how expertly you engage with them.
Millennials are the largest population group in America, with unique needs for financial advice. If you're not courting their business, you might want to start. In Part 1 of this series, " 14 Things to Know about Millennial Prospects," we argued that the best-educated, most diverse generation in history should become a highly profitable market for registered investment advisors (RIAs).
National Association of Professional Agents (NAPA)
As a registered investment advisor (RIA) or investment advisor representative (IAR), have you grown tired of reading about advisors who put their greed ahead of their clients' best interests? Of course, you have. Yet sadly, despite the drumbeat of federal and state enforcement, the damaging stories just keep on coming.
National Association of Professional Agents (NAPA)
Investment Advisor Interests 12/02/2020 Starting a Registered Investment Advisor (RIA) firm is complicated. But don't lose sight of the importance of protecting your new venture with Errors and Omissions (E&O) insurance. Becoming a Registered Investment Advisor (RIA) has become an increasingly popular career choice over the past few decades.
Investment Advisor Interests 06/16/2020 Are you a registered investment advisor (RIA) planning to retire soon? Then it's time to consider your post-retirement legal risks. Dropping your E&O insurance too soon may be ill-advised. For decades, the investment-advisory business has been "aging in place." Today, 21% of the registered investment advisor (RIA) workforce is older than 60.
Will the registered investment advisor (RIA) growth train ever run off the rails? Not likely, according to multiple industry research studies. The...
7. Accountants/Bookkeepers/Tax Preparers: Content Marketing Articles (Bylined/Ghosted)
Congratulations! You survived the 2023 tax season. Or did you? Are you prepared if clients or the IRS file a claim against you in the months ahead?...
Recognize that tax-return fraud is still a threat. Master the basics of cybersecurity to shield your tax practice against a devastating theft of client data. If you work in an accounting firm tax practice, you are a tempting target for cybercriminals. You already know this, of course.
Enjoy your downtime before the 2023 tax season, but don't forget to prepare your firm for the busy season ahead. Tax preparers cherish their...
Tax preparers are likely cybercrime victims. Developing a cybersecurity plan and purchasing the right insurance will help keep your firm safe. Tax preparation companies attract cybercrime like magnets collect iron shavings. The reason is plain to see: They are a treasure trove of valuable personally identifiable information (PII), including current and former tax returns.
Bookkeeping is a crucial activity for tax-preparation firms. Here are some essential tasks to handle throughout the year. As a tax preparer, you work with bookkeeping data to produce tax returns. You not only know how bookkeepers generate this information, but you may do bookkeeping for your own business.
Understanding how your professional liability insurance (PLI) policy works will keep your business safe. As a professional tax preparer, you often...
Working from home is a widespread practice nowadays, and this is certainly no exception for bookkeepers. Even before the working world was forced to...
Do you want to grow your business without incurring large marketing expenses? Then ask your current clients to refer you to their friends and family....
There are two main billing methods in bookkeeping. Do you know which to use when? If not, read on. One of the first decisions new bookkeepers must...
Congratulations! You survived the 2021 tax season. Or did you? Are you prepared if clients or the IRS file a claim against you in the months ahead? You made it through the 2021 tax season and are now breathing a sigh of relief.
Many accountants don't realize how everyday tasks can open themselves to malpractice litigation. Becoming aware of risks, mitigation techniques and the role of insurance can help to keep you safe. Accountants work hard at collecting client financial information and then analyzing and reporting it to answer questions, prepare government filings and craft statements.
You may have professional liability insurance to protect your bookkeeping job or business, but are you fully protected? When you buy auto insurance, you wouldn't expect your insurance company to cover you when you ride a motorcycle, right? When you purchase professional liability insurance to protect your bookkeeping business or job, the same holds true.
Tax preparers have significant legal exposures. Consider some of the potential claims you might face and how professional liability insurance can help you mitigate them. "Nothing is certain except death and taxes," said Benjamin Franklin. But today, you could argue there's another sure thing, which is the risk facing tax preparers when they file an incorrect return.
One of your best marketing tactics is encouraging your customers to review your company online. Here's how to use these reviews to generate more business. What's the best way to grow your company? Social media ads, targeted email blasts, Google Business, Yelp or direct mail? None of these.
All tax preparers store confidential client data, including financial statements and other various personal information, all of which are incredibly valuable to cybercriminals. Your business is solely responsible for protecting this data-what are you doing to safeguard against a breach?
There are two main billing methods in bookkeeping. Do you know which to use when? If not, read on. One of the first decisions new bookkeepers must make is whether to charge their clients a flat fee or based on the number of hours they work.
Want to do exciting work with reasonable pay and excellent job security? Then perhaps you should become a bookkeeper. The practice of bookkeeping...
Technology and automation continue to present challenges for bookkeepers, yet professionals continue to adapt and remain more important than ever....
The busiest months for tax preparers are January through July, starting when the IRS begins accepting returns in late January through July when extensions are submitted. Conversely, the slowest months for accountants, bookkeepers and others who prepare taxes are generally August through January.
Building a remote-employee policy is the crucial first step of managing a virtual workforce. This is a document that spells out the desired objectives of virtual work teams, as well as defines which employees are eligible and under what conditions they should work.
Are you looking to get into business for yourself? Then consider the advantages of starting a bookkeeping service. But beware the liability risks, which you'll need to mitigate with professional liability insurance. Some Facts about the Bookkeeping Business According to the U.S.
Keeping client books for your business or your employer's is stressful enough without having to worry about getting sued if a mistake is made....
360coveragepros
11/11/2022
Do you own or operate a tax and bookkeepers business? Then it’s important to understand how professional liability insurance for tax preparers keeps your business safe.
The COVID-19 pandemic has changed how accounting firms deliver their services, changes that may become permanent in 2021. Are you ready to navigate the "new normal" in accounting? If not, check out our helpful guideposts. Accountants have closed their 2020 books with relief. It's not hard to see why.
Have you ever wondered how your insurance company determines the premium for your accountant professional liability insurance? This article shows you exactly what's involved. As an accountant, CPA, bookkeeper or tax preparer, you've likely heard about accountant's professional liability insurance. You may even have your own policy.
Engagement letters may well be the best way to prevent client lawsuits. But too many accountants fail to use them as a matter of course. Are you one of them? Just as vaccines are a strong defense against disease, engagement letters are an excellent way to inoculate your business against consumer lawsuits.
Have you accounted for the various liability risks your accounting firm faces? If not, this article helps you get started by explaining the essential role of professional liability insurance. Accountants spend the vast majority of their time gathering client financial information and then analyzing and reporting it for various purposes.
Ready to take your membership to the next level? Schedule a free consultation with a Gallagher Affinity association benefits expert today.
Accountants are at constant risk of being sued for malpractice. Whether you're an accountant, CPA, bookkeeper, or tax preparer, having liability insurance is an essential risk-mitigation strategy. When it comes to malpractice lawsuits against accountants and related professionals, the mega-firms get all the "glory."
It pays to fully understand your professional liability insurance. Knowledge starts with knowing the meaning of terms like "claims made," "extended reporting period" and "defense costs in or out." Learn their significance here. Accounting firms of all sizes face numerous liability exposures that can lead to ruinous litigation.
8. Lawyers: Content Marketing Articles (Bylined/Ghosted)
Trust fund scams have been a feature of the legal landscape for years. But knowing about them and not falling prey to them are two different things. Here's how to achieve the latter. It's always a good day when you sign a new client, right?
Many attorneys doubt they'll ever get sued . . . until they are. Read about your main malpractice risks, why you need insurance and what to look for in a policy.
Conflicts of interest are the leading cause of attorney malpractice lawsuits. Yet they fall off the radar screens of attorneys who believe their conflicts will never land them in hot water. Conflicts of interest are the boogieman of the legal profession. Why?
Collections is a rewarding area of the law. But only if you comply with the many regulations involved, especially the Fair Debt Collections Practices Act (FDCPA). Collections can be a profitable area of the law. But the financial upside also brings a liability downside: getting sued for violating the Fair Debt Collections Practices Act (FDCPA).
Facts. Evidence. Standards. As an attorney, you concern yourself with these things every day, since the practice of law is not a subjective exercise. Everything you do must be fact-based. The arguments you make must rest on vetted evidence. And the strategies you recommend to your clients must comply with professional standards of practice.
Ned Racine, the bumbling attorney in the 1980s film " Body Heat " made the mistake of getting involved with a femme fatale, the sensuous Matty Walker played by Kathleen Turner. In classic film noir fashion, Matty manipulates the not-too-swift Racine, played by William Hurt, into killing her husband for his life insurance.
Working on real estate foreclosures is one of the riskiest legal practice areas at the moment. Here's why and how you can protect yourself. Mortgage foreclosures have been toxic to the U.S. economy at various points in the country's history.
LAKEWOOD RANCH, Fla, January 28, 2021 - 360 Coverage Pros announced the expansion of its Lawyer Malpractice Insurance Program to two new...
9. Dentists: Content Marketing Articles (Bylined/Ghosted)
Want to avoid getting sued for malpractice? Your first step is to understand the source of most patient lawsuits. Getting sued is a nightmare scenario for most dentists. Having to respond to patient negligence allegations, often unfounded, and then dealing with legal proceedings is almost too much to bear.
Will artificial intelligence (AI) remake the dental profession or become just another fad with no lasting impact? Smart money is betting on the former. Artificial intelligence (AI) is beginning to change how dentists practice their discipline, from diagnosing your patient's dental problems to promoting and managing your practice.
Patients are watching DIY dentistry videos on TikTok and YouTube. As trained medical professionals, dentists and dental care teams should be prepared to talk about the risk of harm to teeth and possible long-term health risks. Thanks to America's do-it-yourself (DIY) mentality, "dental hacks" are proliferating on social media channels such as TikTok and YouTube.
Technology has reshaped the dental profession since it began hundreds of years ago. Today, robotics and virtual dentistry are leading practitioners into a 21st century characterized by higher quality and stronger finances. Are you ready for even more changes to sweep the industry in decades to come?
If you're an accomplished dentist, you've likely generated significant wealth...or will soon. Now it's time to learn about developing a comprehensive asset-protection plan. (This article is informational only and as such does not provide legal or accounting advice. Before pursuing asset-protection strategies, be sure to consult with your attorney or accountant.)
Dentistry has always been an evergreen industry. It grows in good economic times and bad, largely because the need for dental care is universal and durable. But 2020's global pandemic did so much damage to the business some wondered if it would ever recover.
Group dental practices are growing in popularity. But they're not right for everyone. Before you take the plunge, learn more about their financial, professional and personal advantages. Peering into the past, one glimpses a dental industry dominated by independent solo practices. No longer.
Some dentists worry about getting sued for malpractice. Then they worry some more. A better approach is to learn how malpractice litigation arises and then to adopt risk-mitigation practices. Get pointers in this article. It's not unusual for patients to become angry with their dentists.
Just like teeth and gums need periodic attention to prevent cavities and periodontal diseases, your malpractice insurance policy needs attention, too. Examine its provisions today to make sure it's still keeping your practice safe. As a dentist, you know the importance of having insurance to reduce your legal exposures.
Many dentists dream of having their own practice one day. If you do, too, think hard about the financial implications. The pressures of running your own show can be enormous. Should you become a dental entrepreneur or work as an associate dentist in a privately owned or corporate practice?
It's not your father's dental marketplace. Twenty or 30 years ago, independent solo practices dominated the industry. Today, group practices of various types, including dental service (or support) organizations, are flexing their muscles in a rapidly consolidating business. Result: dentists at all stages in their careers have new options to consider.
By almost any measure, dentistry is one of the most attractive careers in America. Currently, 153,500 dentists work in the field, with nearly 30,000...
In our prior DSO article, we painted a picture of dental service organizations on the move. Due to mounting overhead with traditional practices, management challenges, and marketplace opportunities, DSOs have grown significantly over the last few decades. Today, at least 7.8 percent of dentists work for a DSO.
Have you ever "fired" a patient? Then you know how challenging it can be. Read on for guidance on how to dismiss problem patients without getting sued. As a dentist, you probably don't like dismissing disruptive patients. That's because you prefer to help them and to grow your practice rather than shrink it.
When student dentists graduate from dental school and become licensed, they face a big choice: start their own practice or go to work for an existing one. Both options have a lot going for them.
Do consumers who believe in-and practice-DIY dentistry, alarm you? Then it may be time to speak out. America, if not the world, has adopted a do-it-yourself (DIY) mentality. When faced with doing something new, people of all ages flock to YouTube for instructions.
360coveragepros
05/08/2018
Risk prevention article for dentists
Malpractice lawsuits are a serious threat to America's dentists. That's why it's essential to master the discipline of risk management in your practice, along with four specific risk-management strategies. Most dentists, new or experienced, never expect to get sued for malpractice. They typically view litigation as something that happens to their competitors across town.
The COVID-19 pandemic has changed everyone's life as we know it. Dental practices have certainly not been immune and have also experienced disruption in their office and practices, their finances and their malpractice liability risks. How has your practice or job evolved?
10. Real Estate Agents: Content Marketing Articles (Bylined/Ghosted)
Selling real estate is a risky profession. Every day agents are getting robbed, assaulted, or worse. Are you just running scared or are you doing everything you can to stay safe? From outward appearances, real estate agents seem to have a safe job.
Being a real estate agent is a public-facing job. But unlike people who work in a store or who do customer service over the phone, those who sell real estate engage with the public face-to-face in private spaces. This leaves them vulnerable to theft, assault, or worse.
You're a professional real estate agent or broker. The last thing you want is to spend hours choosing the best E&O insurance. Instead, you want to quickly determine your coverage needs, identify potential providers, evaluate their offerings and price, and then make a decision.
When you entered the real estate business, you most likely entered with good intentions. Perhaps the primary one was to do your best to serve your clients. However, as you gained more experience, you learned there are several different ways you can position yourself with customers, each with different roles, responsibilities, and standards of care, not to mention revenue potential and sales-practice constraints.
COVID-19 (the novel coronavirus) has not only upended the U.S. economy, it has made working with customers riskier than normal. To protect yourself, avoid these five important E&O risks. Real estate brokerage is an inherently risky business. In fact, most agents are likely only one mistake away from getting sued.
Do you operate in a highly competitive real estate marketplace? Then your challenge is to stand apart from your competition. This article shows you how to begin the process. The real estate brokerage business is brutally competitive.
Many real estate agents get their E&O insurance protection through their brokers. That might be a good short-term solution but it can put you at financial risk later on. As a real estate agent, you've invested a lot of time and money in your business.
Have you ever encountered a real estate buyer or seller who was so unreasonable, so unhinged, it frightened you? Guess what? Buyers and sellers come haunting 365 days a year. Listing agents and their clients often encounter buyers who use home inspection results to bludgeon sellers into reducing their prices.
Real estate sales is a relatively easy field to get into. It only takes months, not years, to get licensed. And in most states, you can enter without a college degree. In a world where many careers demand years of study, multiple degrees, and convoluted licensing requirements, real estate sales is a refreshing change of pace.
Wire-transfer fraud has bedeviled real estate agents and brokers over the past decade. In fact, the real estate industry was the second most likely to fall prey to cybercriminals in 2018, according to a report from cybersecurity firm eSentire.
The real estate industry is fighting to preserve its current system of agent and broker compensation. At issue: the transparency of commissions, especially of buyer-agent splits. In most industries, consumers can easily discover how much products or services cost.
Deciding whether to join a national franchise brokerage or a local independent agency is an important decision for new real estate agents. In this article, we will take you through some key considerations. One of the first decisions you will make as a new real estate agent is whether to join a national franchise brokerage or a local independent agency.
11. Travel Agents: Content Marketing Articles (Bylined/Ghosted)
Growing your business isn't just about marketing. We provide a useful framework for unleashing growth from many perspectives.
The travel agent business has shrunk markedly over the last few decades. Will it continue to lose ground in the years ahead or make a comeback? Travel agents have hit turbulence over the last several decades.
Are you ready to capture your fair share of tour business this fall and winter? If you're not sure, our tips might help. What a great time to be in the tourism industry! People are excited to travel again, and bookings are on the rise.
The travel industry is steadily rebounding from the global pandemic. But the business-travel sector has been slower to recover. What are its prospects going forward? The global travel business has rebounded to a degree in 2022. That includes the corporate travel segment.
As a travel agent, have you ever felt stressed out at work? Don't worry. You can avoid this problem by maintaining an adequate work/life balance. This article shows you how. Is working as a travel agent your passion project? If so, it's not hard to see why.
Choosing between E&O Insurance or General Liability comes down to your business needs. Learn what each offers and find the right fit for you. Travel agents send their clients around the world every day and tend to focus on exposures further from home.
Interested in pursuing a travel advisor certification? You've come to the right place. One of the best things about the travel advisor field is...
Networking is a key travel agent marketing tactic. Here's how to do it more effectively. No person is an island, especially travel agents who must stay on top of developments in an ever-changing industry. Fortunately, there are plenty of opportunities to do so through online and offline networking.
Ecotourism is a popular travel option today. But becoming a legitimate, sustainable tour operator takes more than claiming to be green. Ecotourism has been a travel niche for many years. But the growing concerns over the environment and sustainability have created a new urgency for tour operators and customers alike.
Launching a tour business sounds like fun. But there's a lot of work to do before you reach that point. Here's how to get started. Being a tour operator is a lot of people's dream business. But it doesn't just happen. It takes a lot of planning and hard work.
Your clients rely on you to send them to safe countries and properties around the world. Here are eight ways not to disappoint them. Prior to the COVID pandemic, safety was often an afterthought for global travelers. It was something to consider when selecting a travel destination or package, but it wasn't always the primary consideration.
The travel agent business has shrunk markedly over the last few decades. Will it continue to lose ground in the years ahead or make a comeback? Travel agents have hit turbulence over the last several decades.
Narrowing your focus to a specific destination or type of travel could make you a better advisor. Here's how to do it. As a travel agent, the world's destinations are your business. As gratifying as that may sound, it can also be a disadvantage!
Understanding Top Liability Exposures Your Business Faces Can Help You Better Manage Your Risks Protecting a tour business and one's livelihood in the event that a dissatisfied or injured client sues requires appropriately managing liability exposures as well as transferring one's risks by carrying an errors and omissions (E&O) insurance policy.
The travel industry is in recovery mode. Now may be the perfect time to pursue the travel agent career you've always dreamed about. Here's how. The global pandemic took the wind out of travel industry sales and employment, forcing the industry to focus on survival.
The travel industry has a history of running parallel to economic trends. As the economy rises and falls, consumer demand for travel reacts in turn. This affects the careers of everyone who works in the business, from travel advisors and travel agency owners to tour operators. Change is a constant in the travel business.
Is your tour company up and running this summer? Are you experiencing record levels of business despite the continuing COVID-19 threat? Read our helpful tips for operating during this transitional period. In the spring of 2021, tour operators were in a unique position.
With the travel and tourism industries in free fall due to COVID-19, fear and chaos are now rampant. Here's what to say to calm your clients. Cancelled flights. Quarantined travelers. Airport chaos. City lock downs. The coronavirus is creating all this and more in the travel and tourism industry.
The perfect trip exists only in the imagination of highly optimistic travel agents and their clients. If you're lucky, the trips you plan might only have glitches that annoy you and your customers, but ultimately don't hurt their overall experience.
Do your clients yearn for unique travel experiences? Then off-the-beaten-path trips and glamping may fit the bill. But beware of the risks. An injured client can haul you into court American consumers are fleeing the same old travel concepts. Rather than taking a packaged tour of tired European destinations, many are migrating toward a more unique, meaningful and engaging trip .
Do your clients want meaningful travel experiences? Then experiential and dark travel may suit their needs. But be careful of the risks. A client injury can spark a legal nightmare. In Part 1 of this series, we discussed how consumers are reaching more and more for out of the ordinary travel concepts.
12. Professional Mariners: Content Marketing Articles (Bylined/Ghosted)
Professional mariners may face harsh legal consequences after a maritime disaster. However, skilled legal representation can mitigate severe...
Many people wonder how to become a captain of a ship. The joy of being on the water, making a good living and mastering the maritime craft lead many...
Global shipping is studying new fuels and technologies to produce an energy sea change in the fight against global warming. Professional mariners working in the global shipping industry have been on a decade-long journey to mitigate climate change. Since 2011, regulators have devised stricter ship emissions standards, but much work remains.
Professional Mariner Interests 03/17/2020 Make one serious mistake and you could jeopardize your career, assets, and personal freedom. Should you buy Mariner Liability Insurance? On March 12, 2018, the towing vessel Natalie Jean sank in the Lower Mississippi River, near New Orleans.
Do you work with annoying people on your boat- with tight quarters making things worse? Here's how to avoid succumbing to long-term stress....
Losing your 6-Pack captain's license can harm your career and personal finances. Here's how to protect your hard-earned credential with...
Are you looking to make extra money from your USCG 6-pack license? Then consider these six high-potential ideas. Having your Merchant Mariner...
Are you thinking about making money from your fishing boat? Then perhaps earning a captain's license is in your future. Do you own a small fishing...
If you own or operate a fishing charter boat, managing safety risks will be critical to your success. Charter boat trips, especially those devoted...
Operating mega-ships brings with it several potential risks. If you currently serve on one-or hope to-make sure to insure your license. Any marine incident can have devastating consequences. But when the ship is a mega-vessel, the damages-physical, financial, and human-can go off the charts.
Professional Mariner Interests 06/04/2021 Have you tried the new cannabidiol (CBD) products to relieve pain, stress or anxiety? Tread lightly. You may be endangering your USCG license. Cannabidiol, also known as CBD, has become the new "it" remedy for stressed out Americans. Proponents claim CBD can help reduce inflammation, pain, anxiety and other medical ailments.
Professional Mariner Interests 03/16/2021 2020 is the year those working in the maritime industry want to forget. But will 2021 be any better? Perhaps. But it will depend on how the industry manages a number of ongoing challenges. Professional mariners will gladly turn the page on 2020, a year that roiled the maritime industry and careers.
Professional Mariner Interests 05/19/2020 Concerned about potentially losing your mariner license after an accident? Worried about getting sued after making a mistake on the water? It's time to consider Marine License Insurance. It is no surprise that mariners face a sea of risk every time they report for work.
Many of America's maritime workers are considered to be essential critical infrastructure workers. Maintenance of daily life depends on them, prioritizing their health is a must. The global COVID-19 pandemic has disrupted the marine industry like no event since the Spanish Flu of 1918.
13. Veterinarians: Content Marketing Articles (Bylined/Ghosted)
Do you ever wake up feeling not quite yourself? Not really depressed, but feeling unmotivated and unexcited? You're not alone. Get help here. To prevent a funk from worsening, it's important to address it early. In this article, I provide 10 suggestions you can use to overcome a funk before it's too late.
360 Coverage Pros
2/13/23
What to do when a veterinary board brings you up on charges.
Becoming a veterinarian isn't a walk in the park. But, for the right person, the long journey pays off in substantial personal and financial rewards. Becoming a veterinarian is the dream of many animal lovers. To make it come true, you need to earn a degree from a school of veterinary medicine and pass your vet boards.
Does unrelenting work stress make you burned out, anxious, depressed or worse? If so, don't accept it. Find help now. Don't worry if you're a veterinarian struggling with mental health issues. You're not alone; mental health problems are common in the veterinary profession.
Malpractice lawsuits are becoming more common in veterinary medicine. Follow these guidelines to keep your practice safe. No single action can keep you and your veterinary business out of legal hot water. However, mitigating your risks will safeguard your practice against litigation.
As a veterinarian, you help clients take care of their beloved pets and keep them healthy. However, what happens if your reputation comes under attack? How do you handle a crisis? Are you prepared to deal with the fallout?
Cyberthreats are mounting for veterinarian practices and hospitals. Here's why it's time to consider buying veterinary cyber liability insurance. Here's the Reader's Digest version of why cybersecurity matters to vet practices: Any business that stores sensitive data in an electronic device or on the cloud is at risk.
Are you taking full advantage of email marketing, using no-cost email services? If not, the time to start is now. Email marketing is the beating heart of most vet marketing programs. It uses personalized emails to engage with prospects, convincing them to make appointments for veterinary services.
Are you personally involved with your practice's bookkeeping and other support functions? If so, consider the benefits of hiring outside experts to perform these tasks. You love what you do: providing hands-on pet care and counseling your pet parents.
Want to take your practice marketing to the next level? Master these five important marketing concepts. Email database and text messaging Social media marketing Facebook custom audience Prospect/client e-newsletters Town/city hall pet-license database Email database and text messaging Email marketing is an effective and affordable way to promote your veterinary practice.
To digitize or not to digitize your patient records. If you haven't done it yet, it's not too late. Veterinary medicine professionals have debated whether to go digital for many years. Some practices adopted electronic medical records early on.
Patient communication is an essential success-building strategy for your veterinary practice. You can't go wrong by over-communicating. Customer communications help to retain pet parents as clients. You know this, of course. But you might not know that communicating is no longer enough.
Vets and vet techs enter the field to make a difference. Now they're leaving it to retain their physical and mental health. Here's how to deal with morale issues and the resulting staff shortages. The vet shortage has been well documented for years.
14. Small Business "Explainers": Risk Management, Insurance, and More
Learn the meaning of sole proprietorship and other business insurance terms. Learn how sole proprietorship applies to small business insurance.
Learn what an insurance broker is and read a glossary of business insurance terms. Learn what an insurance broker does for small business owners.
Learn the meaning of insurance agent and read a glossary of business insurance terms. Learn how insurance agents apply to small business insurance.
Read the meaning of insurance endorsement and learn how insurance endorsement applies to small business insurance.
Learn the meaning of insurance adjuster and read a glossary of business insurance terms. Learn how insurance adjusters help small business insurance.
Learn the meaning of assessed value and read a glossary of business insurance terms. Learn how assessed value applies to small business insurance.
Learn the meaning of a declarations page and other business insurance terms. Learn how declarations pages apply to small business insurance.
Learn the meaning of cyber extortion and read a glossary of business insurance terms. Learn how cyber extortion applies to small business insurance.
Learn the meaning of an insurance quote and read a glossary of business insurance terms. See how insurance quotes apply to small business insurance.
Learn the meaning of advertising injury and read a glossary of business insurance terms. Learn how advertising injury applies to small business insurance.
Cyber Security & Compliance 12/18/2020 Nearly every small business needs cyber liability and data breach insurance. The question is where to get it from: your existing professional liability/E&O insurance, a blended policy, or standalone cyber insurance? Cyber threats shows no sign of abating. According to a recent Ponemon Institute study, 66% of U.S.
By Harry J. Lew, Insureon Contributor Nothing in life is forever. That includes your small business insurance, which you may need to cancel at some point. If that becomes necessary, be sure to follow your insurer's procedures and file a written insurance cancellation letter.
By Harry J. Lew, Insureon Contributor When people hire your company, they want to know working with you won't increase their legal liability. Similarly, when you hire vendors or subcontractors for your firm, you want assurance that hiring them won't harm you financially. How do both parties put these concerns to rest?
Insurance policy terminology can confuse small business owners who aren't familiar with the industry. For instance, you may think that additional insureds are the same as loss payees because you can add both to your business insurance policy, granting them the right to receive benefits.
Starting a small business is an increasingly popular career option today, with sole proprietors and independent contractors enjoying the flexibility and tax deductions that full-time employment often does not typically offer. Sole proprietors and independent contractors are different names for the same business owner, but which term applies to your business depends on the situation.
America's workers' compensation system depends on nearly all employees having workers' comp insurance. But certain types of employees, as well as some business owners, are workers' comp exempt. In the early 20th century, state governments, employers, and employees made a grand bargain. Employers would automatically cover the costs of their employees' work-related injuries and illnesses.
If you have a successful track record in the IT industry, you may have considered opening a computer repair shop. When starting a new company, one of the first things you should do is write a business plan that will build a solid foundation for your venture.
Fiduciary liability insurance protects individuals or entities who oversee employee benefit plans from claims they mismanaged those plans in breach of their fiduciary duty. What is fiduciary liability insurance? Fiduciary liability insurance is a specialized form of insurance that protects employee benefit plan fiduciaries against claims they mismanaged plans or assets.
Strict liability is the responsibility that small business owners have for damages or injuries their products cause, even if they did nothing wrong. What is strict liability? Strict liability is the responsibility that manufacturers, wholesalers, distributors, or retailers have for damages or injuries in cases where there was no fault or negligence.
By Harry J. Lew, Insureon Contributor For small business owners, it's important to understand the difference between occurrence vs. claims-made insurance before you purchase a policy. The two policy types can affect what you pay for coverage and the lifecycle of some of the most common small business insurance coverages.
Risk management is a discipline devoted to understanding and controlling the threats small businesses face. They range from fires to data breaches or more common accidents, such as slip-and-fall injuries. Managing risks involves many different activities, including assessment, protective actions, and small business insurance, all of which are designed to promote the success and ultimate survival of a small business.
Cyber extortion is an online crime in which hackers hold your data, website, computer systems, or other sensitive information hostage until you meet their demands for payment. Cyber extortion often takes the form of ransomware and distributed denial-of-service (DDoS) attacks, both of which could paralyze your business.
Underwriting is the process insurers use to assess the risks of insuring a small business. It involves the insurance company determining whether your firm poses an acceptable risk and, if it does, calculating a fair price for your coverage. An insurance underwriter is someone who manages the insurance underwriting process.
Nose coverage is a feature of claims-made insurance that covers a mistake or oversight you made while insured under a previously terminated policy. Also known as prior acts coverage, it involves your new insurer extending coverage to cover something you did in the past while you were covered by another carrier.
Tail coverage is an endorsement (or an addition) to your insurance that allows you to file a claim against your policy after it expired or was canceled. It applies to claims-made insurance policies and typically involves paying your insurer an additional fee.
If an illness or injury keeps someone from working for an extended period, disability insurance provides financial assistance to replace a portion of lost income. Coverage is typically available through employer-provided or voluntary employee benefits. Small business insurance can also provide disability benefits with a workers' compensation policy if an employee becomes disabled after a work-related injury or illness.
A sole proprietorship is a business owned by one person who is responsible for all of the business's debts, taxes, and legal liabilities. Because it's owned by one person, a sole proprietorship is one of the easiest types of businesses for emerging entrepreneurs to create.
Insurance agents and brokers who specialize in property and casualty insurance help small business owners obtain insurance coverage from insurers at a reasonable price (or premium). Agents and brokers are licensed in their states and must comply with all governing statutes and regulations. Insurance agents and brokers can specialize in offering one form of small business insurance.
Similar to other specialized industries, small business insurance has unique words and phrases that might be unfamiliar to business owners exploring commercial insurance options for the first time. Three words that you'll regularly encounter with most insurance policies are: premium, limits, and deductible. You'll come across them when you buy almost any form of insurance.
Insurtech is the emergence of new technologies that are transforming the insurance industry, reducing costs for consumers and insurance companies, improving efficiency, and enhancing customer satisfaction. Insurtech companies have made the process of buying all types of insurance easier and more convenient, from consumer products to small business insurance.
Contingent business interruption coverage can help your business if you lose significant revenue and are unable to continue to do business after a key supplier, business partner, or customer shuts down. It's a form of small business insurance that is typically added as a rider to a business interruption insurance policy.
A tort is a wrongful action or omission that harms a person or business, prompting the injured party to seek compensation in civil court. As a result of committing a tort, the guilty person (the defendant or tortfeasor) bears legal liability.
An indemnity is a feature of a business contract in which one party agrees to compensate another party for a prior or potential loss. The payment either takes the form of cash or repair or replacement of damaged property. An indemnity is the foundation of most business insurance policies, including general liability, workers' compensation, commercial auto, and commercial umbrella liability.
An insurance adjuster, also known as a claims adjuster, is someone who processes claims filed with insurance companies, either from insureds or claimants. They review the facts of each case and determine an appropriate claim settlement under the terms of the insured's policy. Insurance adjusters process claims for many types of small business insurance policies.
Business insurance coverage that helps employers pay for medical expenses in the event that an employee suffers from a work-related injury or illness. Most of the time, a Workers' Compensation policy also reimburses employees for the wages they lost while they couldn't work.
A hold harmless agreement protects your business against lawsuits by requiring the parties with whom you are doing business to refrain from suing you under certain circumstances. Hold harmless agreements are a staple of the construction, real estate, and service industries, especially in firms that engage in high-risk activities.
An appraisal, as it relates to small business insurance, is the process of determining the value of an asset for commercial or financial purposes. An appraisal can help you choose how much insurance coverage to buy in order to protect your assets. This is especially important when buying commercial property insurance or a business owner's policy.
A claims-made policy provides benefits only if you file a claim while it's active. If you cancel your policy and then report a claim, you'll have no insurance coverage. Insurers typically use claims-made policy forms for professional liability insurance, errors and omissions, and directors and officers insurance.
An occurrence-based policy covers losses that happen during the time you have the policy, regardless of when you file a claim. It is designed to protect you against long-tail events - incidents that could cause injury or damage years after they occur.
An extended reporting period (ERP) is a feature you can add to your claims-made professional liability insurance policy. It can continue coverage for certain policies after they expire. Typically, if you cancel a claims-made policy for professional liability insurance or another policy type, you will be unprotected if someone decides to sue you and you don't have an extended reporting period.
Products and completed operations refers to your protection against product or services liability claims under a general liability insurance policy. The coverage is also part of a business owner's policy. Lawsuits related to property damage and bodily injuries are common for small businesses.
15. Cybersecurity and Insurance: Content Marketing Articles (Bylined/Ghosted)
BCS Insurance Company
9/14/22
Nearly every small business needs cyber liability and data breach insurance. The question is where to get it from: your existing professional liability/E&O insurance, a blended policy, or standalone cyber insurance?
Imagine owning a successful small business. You show up to work one morning on a day like any other only to discover you can't access your system. Then a message comes on screen saying a hacker has encrypted your computer; your hardware, software, network and data are all locked down.
Cyber Security & Compliance 12/18/2020 Nearly every small business needs cyber liability and data breach insurance. The question is where to get it from: your existing professional liability/E&O insurance, a blended policy, or standalone cyber insurance? Cyber threats shows no sign of abating. According to a recent Ponemon Institute study, 66% of U.S.
Cyber Security & Compliance 10/02/2017 The popular image of hackers in foreign lands stealing customer data chills the blood of agents, advisors, and insurer company executives alike. However, even though the threat of malicious attacks remains high, there's an equally high risk of self-inflicted wounds, according to Beazley Breach Response (BBR), a unit of Beazley plc that helps firms recover from the aftermath of a cyber-breach.
Cyber Security & Compliance 02/12/2018 As cyber-breaches continued to afflict U.S. businesses in 2017, both small and large-sized businesses continue to give data security a big priority. That's the takeaway from a recent survey by USI Insurance Services.
Cyber Security & Compliance 04/09/2018 For financial professionals, 2017 may go down in history as the year they got serious about cybersecurity. After a series of major hacks hit the news (Equifax, WannaCry Ransomware), the number of total data breaches exploded (reaching 1,293 incidents).
Cyber Security & Compliance 04/16/2018 Once you have a cyber risk plan in place, what's next? Execute the best practices available for keeping your firm and clients safe. Although there are entire college courses and shelves of books devoted to this topic, here are 11 of the key things you should do, according to leading experts.
Cyber Security & Compliance 03/16/2021 The COVID-19 pandemic rewrote 2020's cybersecurity playbook. Are you ready for what's coming next? Cyberattacks, an issue that has plagued businesses for years, became a mortal threat in 2020. Because most U.S. businesses shifted to remote work due to the COVID-19 pandemic, this opened the floodgates of serious cyber incidents, which will likely continue during the year ahead.
As an independent financial-services professional, you're only as good as your data . . . the knowledge in your head and the information stored on...
Cyber Security & Compliance 06/01/2017 Insurance agents and brokers licensed to operate in New York have a new regulatory concern these days: how to comply with the Empire State's new cybersecurity regulation. The new rule, reportedly the first in the nation, went live on March 1, 2017.
Cyber Security & Compliance 01/10/2020 The end of the year and the beginning of the next are busy times for small business owners. But don't let this distract you from your cybersecurity best practices. The end of one year and the beginning of the next can be a wonderful time for owners of small-to-medium (SMB) sized business.
Data breaches are a HIPAA nightmare in the making. Are you fully aware of your cyber risks...and of how you can help to mitigate them? "It will never happen to me." So say many US physicians about healthcare data breaches, a common phenomenon in today's tech-enabled medical field. But happen it does.
There's no better time than National Cybersecurity Awareness Month to consider your firm's cyber risks.
Cyber Security & Compliance 02/05/2018 True to its inherent conservatism, the insurance industry has adopted a slow and steady approach to managing cyber risks. Insurers have created new forms of insurance to deal with cyber breaches, and regulators have begun to provide a legal framework for reducing industry exposure to major losses such as 2017's Equifax breach.
Cyber Security & Compliance 10/09/2017 Despite relentless media coverage, fewer than half of advisors (44 percent) say they fully understand cybersecurity risks and even fewer (29 percent) say they're prepared to manage and mitigate the risks they face. These were two key findings from a Financial Planning Association (FPA) Research and Practice Institute study.
Cyber Security & Compliance 08/28/2017 With data breaches at an all-time high-1,093 in 2016 alone, according to the Identity Theft Resource Center-regulators have gotten religion on the cyber-security issue. Over the last two to three years, they've conducted surveys, updated their examination protocols and issued enforcement actions-all designed to keep financial-services professionals and their customers safe.
Cyber Security & Compliance 07/24/2017 Each day seems to bring more news of cyber-attacks and breaches that cripple businesses around the world. But if you're like most insurance agents and financial advisors, at a certain point you just have to move on from these events to the work that drives your business forward-approaching prospects, doing sales presentations, closing deals, and servicing your clients.
16. Insurance Agent/Financial Advisor Education: Regulatory Compliance
National Ethics Association
National Ethics Association is committed to helping businesses service their customers with Transparency and Trust.
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 regarding the development and use of advertising materials.
You know the feeling. You’re driving down the road, albeit a little too fast, when the police pull you over. Because of your inattention, you receive a speeding ticket, and now must pay a fine of $250. Ouch! Although you know you messed up, you’re still not fine with writing such a large check. Many in the financial services world often feel much the same way.
Suitability remains an issue of concern for financial-services regulators. Even though regulatory bodies have promulgated tighter regimens for assuring suitable sales, especially to seniors, evidence persists that financial advisors often recommend unsuitable products and/or fail to document the discussions they have with clients about risk and appropriate product solutions.
Remember your high school days . . . a time when your teachers told you what you needed to know and then tested you on it? Unfortunately, real life has a way of testing us without giving us a warning first—unless you’re an SEC- or state-regulated investment advisor.
Under new rules effective May 16, 2016, the public can now invest in early-stage start-ups via online platforms that are subject to registration and disclosure requirements. For their part, consumers are limited in how much they can invest based on their income and net worth.
With the clock ticking on the U.S. Department of Labor’s proposed fiduciary standard, financial professionals have become increasingly nervous about the rule’s impact on their business models and revenues. But advisors who hold only insurance licenses and who don’t pursue 401(k) rollover business may think the impending storm will leave them largely unaffected. Think again.
Suitability enforcement roared back last year, according to Washington D.C. law firm Sutherland Asbill & Brennan LLP. Its annual survey of FINRA enforcement actions reported 76 suitability cases in 2015, resulting in $18.3 million in fines.
Financial advisors often adopt an “it won’t happen to me” posture when it comes to getting caught violating state (or federal) regulations. However, a new report from the North American Securities Administrators Association (NASAA) highlights the fallacy behind that thinking.
With the aging of America, financial professionals are facing increasing numbers of clients showing symptoms of Alzheimer’s and other age-related dementias. Although the temptation is to not get involved due to privacy concerns, it’s important for advisors to take action to protect their clients, as well as to prevent E&O insurance exposure.
Can one advertise with impunity? One might think so given the outrageous claims one finds on the Internet these days. But actually, thanks to U.S. federal and state consumer-protection laws, there are constraints on what you can and can’t say in your trade advertising. Running afoul of these limits can cost you big money.
Financial advisors who have noticed cognitive declines in older clients, as well as irregularities in their financial statements, face tough decisions. Should they raise a red flag with authorities and risk angering family members? And should they slow or stop a requested financial transaction when they suspect exploitation?
Financial advisors typically have a love/hate relationship with compliance officers. On the one hand, they view them as being highly effective at sales prevention. On the other, they appreciate their efforts to warn of emerging threats that could imperil their operating license (or personal freedom).
The risks of cyber-attack, ransomware, identity theft, natural disasters, and even personal health crises are substantial. Although most advisors know this, a recent SEI Advisor Network and FP Transitions white paper found that only 45 percent of financial professionals have a written business-continuity plan in place to assure their business stays open during a crisis.
As a Registered Investment Advisor (RIA), you know how important it is to differentiate your firm from its competitors.
Business Ethics Have you moved a lot of your clients from commission-generating accounts to fee-bearing advisory arrangements, also known as wrap accounts? Are you expecting a major correction to hit the markets in the coming months or years?
The topic of conflict of interest induces vertigo, especially now.
On the one hand, financial professionals hear that conflicts of interest are bad. Their industry ethics codes urge them to put their clients’ interests ahead of their own. Yet for decades, product manufacturers have also given advisors the option to sell more expensive products in order to earn higher payouts compared to products that offer essentially the same benefits at a lower cost.
Sales Marketing If you're a registered investment advisor worried about providing the new required Form ADV data, relax. You just caught a break from the Securities and Exchange Commission.
Many financial-services professionals claim the Department of Labor’s new Fiduciary Rule will harm their firms, while restricting consumer access to financial advice. Not surprisingly, the immense amount of discussion about the rule has overshadowed nearly every other issue save one: senior financial exploitation.
Sales Marketing Remember your high school days . . . a time when your teachers told you what you needed to know and then tested you on it?
Sales Marketing As the number of consumers using social-media networking sites continues to grow, FINRA has provided ongoing guidance for financial advisors wanting to promote their firms online without getting into trouble.
Business Ethics Have you and/or your firm optimized your business practices in order to prevent your senior clients from falling victim to financial abuse or fraud?
Written for my client, the National Ethics Bureau/EOforLess
Will the life settlement market rebound in 2011? Only time will tell. But increased focus on regulatory and self-regulatory oversight can only be a good thing.
Written for my client, the National Ethics Bureau/EOforLess
Seniors are being squeezed by declining investment income and rising costs. They’re also more Internet savvy, but susceptible to cognitive deficits. Add the prospect of investing in start-ups over the Internet with limited regulation, and what have you got? A potential nightmare for them, their families and you.
As an advisor to senior clients, you’re in a position to witness evidence of financial exploitation, a form of elder abuse. To help financial institutions and advisors identify and report such problems, the Financial Crimes Enforcement Network (FinCEN) has issued a list of “red flags” to watch for.
Identity theft is a global epidemic afflicting millions of consumers every year. But consumers aren’t the only entities at risk. So are businesses, including financial professionals of all types. Here’s a case in point.
Insurance Forums
05/14/2015
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.
Think you’ve got too many consumer disclosures to deal with? Well, get ready for a new one. If you operate in New York, you will be required to become more transparent about compensation.
The North American Securities Administrators Association (NASAA) has enhanced its Investment Adviser Public Disclosure website to allow investors to electronically access information about individuals who work for money management, financial planning and other investment advisory firms.
According to the Department of Labor’s new Fiduciary Rule, all retirement-oriented advisors must comply with its “impartial conduct standards” by April 10, 2017. Are you making progress toward meeting this requirement?
17. Insurance Agent/Financial Advisor/Small Business Owner Education: Ethics
It’s that time again . . . the NCAA college-basketball tournament. For several weeks, U.S. basketball fans indulge their passion for the sport. Debating with fellow hoop lovers, building their brackets, and, of course, following the high drama of the Final Four—it’s all part of the college-basketball experience. Many also bring their passion to work, joining betting pools and discussing games with colleagues. In their excitement, some may neglect their work duties and who can blame them?...
Fifty years ago, a French electrical technician invented the Etch A Sketch. Although André Cassagnes died recently at the age of 86, his Etch A Sketch lives on—in children’s games, artists’ doodling, and political operatives’ faux pas (i.e., in Mitt Romney’s 2012 presidential campaign). But what hasn’t survived is the notion of complete erasability. In the Internet era, words, pictures, misdeeds, gossip, lies—they’re all out there for everyone to see . . . forever.
As we write this article, the media is full of chatter about the divorce of Tom Cruise and Katie Holmes, collectively known as TomKat. Although we normally don’t follow the tabloids, one thing does strike us—the permanence of reputation in the Internet age.
National Ethics Association
A government or business is only as strong as its weakest partner. If any one element is incompetent or unethical, the entire enterprise can topple, smashing everyone’s reputation and creating potential legal problems.
With financial markets turning increasing volatile in recent months, it’s clear financial advisors have plenty on their plates. Not only must they put market gyrations in context for their clients, they must also encourage them to stay focused on their long-term investment plans and to not overreact to frightening short-term news.
As if that weren’t enough, advisors who do retirement-income planning have a number of ethical concerns that can keep them up at night.
Would you let a person teeter on the edge of a cliff without pulling him back to safety? Or what about letting a child walk on a lake’s thin ice without shouting a warning and going to her rescue. In both cases, we're sure you’d get involved,because it ‘s the right thing—the ethical thing—to do. So why are so few financial advisors doing hands-on Social Security planning?
Social Security planning experts have also begun to use the “F” and “L” words—i.e., “fiduciary” and “liability.” They suggest advisors may have a fiduciary obligation to provide Social Security planning in order to select a claiming strategy that produces an optimal payout. If you don’t do this, they add, you may be facing a legal liability years down the road when a client find out how much money they left on the table.
We’ve said it before, but we’ll say it again. The vast majority of ethical/legal problems advisors encounter are self-inflicted. Sophisticated, large Ponzi schemers are outliers. Much more common are advisors who make unforced errors through inattention or sloppiness or aren’t well grounded in principle.
A massive hurricane sweeps through your coastal community. Fortunately, the small convenience store you own is spared major damage. Before long, customers who have lost power and shelter are lining up 20 deep to buy coffee and food. Would you raise prices across the board in order to manage demand (and increase profits)? Or would you keep your prices stable and ration your inventory in order to serve as many customers as possible in their hour of need?
Think of the sleaziest salesperson you ever had the misfortune of knowing. Perhaps it was a stockbroker who kept calling you with hot tips while your dinner got cold. Or maybe it was an automobile salesperson who continually trotted out the phrase, “Let me run it by my manager.” And how about the solicitor for your local police department who “guilted” you into donating to “the good guys.”
It’s been said that the only place people reach their full potential is on their resumes. In fact, business professionals have been stretching the truth since the first resume came off a typewriter. But that doesn’t make it right.
When was the last time you had a restful night’s sleep? Can’t remember? You’re not alone. According to the Centers for Disease Control and Prevention, about 50-70 million U.S. adults have problems sleeping, leading them to wake up chronically tired and ill equipped to function at work. But here’s what we really want to know. Does Bernie Madoff, the notorious Ponzi schemer, sleep like a baby at night?
Here’s a question that bears reflection: “Do you have the means to live, but little meaning to live for?”
The question comes from Viktor Frankl, a Jewish psychiatrist who lived in Vienna during World War II. After the Nazis invasion, the good doctor and his family were arrested and sent to a concentration camp. While imprisoned, Frankl saw his fellow prisoners treated with such cruelty they lost their humanity, their health, and ultimately, their will to live.
Ah, complaints! Years ago, clients might file complaints with a state or federal regulator. You’d be called to account, but if you weren’t at fault, hopefully the regulator would dismiss it. If you were, you’d either make good or enter mediation (or court).
In recruiting new clients, are you a “yes-man” or a “yes-woman?” Do you work with everyone regardless of needs, resources, and temperament? If so, you are making a big mistake. But don’t worry. It’s not too late to change.
All marketplaces have slimy competitors. They acquire prospects in dubious ways, spread lies about competitors, misrepresent products, and bully prospects to buy. In the short term, they may have an advantage. But over the long term, their scummy tactics almost always backfire.
There’s so much confusion about two simple verbs: “can” vs. “should.” Just because you can drive 125 miles per hour on the highway—or leap from one rooftop to the next for sport—doesn’t mean you should.
Ever since the advent of the World Wide Web in the 1990s, the Internet has hosted inappropriate and immoral pictures and videos. So much so that an entire industry has arisen to insulate children from them. Today, there’s so much repulsive material online that people accept it as a given. But recently, we’ve turned a corner: Islamic terrorists have been posting beheading videos of journalists, foreign aid workers, and even of children of other faiths. .
As marketers, business professionals often view the world through a narrow lens—whether a sales technique is effective or not. Although that’s an important consideration, equally crucial is whether the tactic is ethical. Unfortunately, too many businesspeople rush to adopt effective actions without considering their ethical implications.
Serving rich clients isn’t a panacea. Bud Fox, the neophyte broker in the classic film “Wall Street,” learned this the hard way.
For decades, advisors have violated regulations and laws in order to further their own interests. Insurance and securities firms now spend hundreds of millions of dollars on producer recruitment, selection, training, and compliance oversight. Yet every year, the violations keep coming, and clients, especially seniors, keep getting hurt.
The topic of conflict of interest induces vertigo, especially now.
On the one hand, financial professionals hear that conflicts of interest are bad. Their industry ethics codes urge them to put their clients’ interests ahead of their own. Yet for decades, product manufacturers have also given advisors the option to sell more expensive products in order to earn higher payouts compared to products that offer essentially the same benefits at a lower cost.
Public seminars have been a linchpin of financial-services marketing for more than 25 years. When properly designed and executed, they are strong lead-generation tools. However, all too often, financial advisors have used them to mislead prospects into buying products that ran counter to their personal needs and risk profiles.
Do negative sales tactics bring positive results? Some advisors must think so; given the uptick in negative selling we’ve seen recently. This is unfortunate, because badmouthing competitors creates a negative marketplace dynamic that hurts everyone in the industry, especially the advisor who stoops to such practices.
Many business professionals savor their independence. That’s why corporate employees often go independent as their skill, knowledge, and client list grow. But even as a free agent—a lone cowboy or cowgirl—how independent are you really?
he financial-services trade press is full of stories about life and health insurance agents and investment advisors who failed to say no. Case in point: John Paul Slawinski, who in 2014 went to jail for nine years and was ordered to pay $3.4 million in restitution. According to the California Department of Insurance, his crime was stealing from senior citizens by convincing them to swap their existing annuities for “better deals.” Problem was, he just pocketed the money and covered his...
We recently read an article about a CEO who embezzled some $2 million from his firm, Latex International, in Shelton, CT. According to government prosecutors, Kevin Coleman, 51, used corporate funds to buy luxury items for his wife, his mistress, and himself. He also never paid federal taxes on either the money he stole or his CEO salary of between $359,000 and $460,000 a year.
In ancient Greece, the famed philosopher Diogenes walked the daylight streets with a lantern in search of an honest man. In your work as a business professional, do you ever feel the same way . . . that way too many of your customers have lost touch with the truth?
Famed cyclist Lance Armstrong must have never played Chutes & Ladders. Remember that game from your childhood? The game board represented life’s journey. As you threw the dice, you moved through life, either being good (and vaulting up a ladder) or being naughty (and plummeting down a chute).
There’s gossip, and then there’s GOSSIP. The latter happened in China recently, when the man slated to become the country’s new leader, Xi Jinping, went missing for more than a week.
The rules of small-business communications have changed. Today companies can easily engage with consumers on social media such as Facebook and Twitter. And consumers can talk back to companies—and to fellow consumers—on those same channels.
Have you ever tried to “pull strings” to find a job for a family member? Apparently, Chinese government officials may have done just that, seeking employment opportunities for their children from Wall Street firm JPMorgan in return for granting explicit (or implicit) business favors.
"What was he thinking?" I heard this frequently after a prominent politician resigned due to a sex scandal. I won’t retell the tawdry tale. But I will say his conduct highlights two qualities inappropriate in a public servant: arrogance (“I’m above the law”) and stupidity (“No one will notice”)
If you’re on the brink of closing a sale and the decision-maker stonewalls, what should you do? Lower your price? Add more products or services to the contract? Offer a bribe?
You want to believe that people are inherently good. Unfortunately, there will always be employees who steal your merchandise, fudge their expense reports, and to do as little work as possible.
Even the best-intentioned business owner can fall prey to the temptations of unethical conduct. How? By giving in to four seductive pressures.
What’s worse than requesting service from your phone or Internet provider? Listening to the Comcast Service Call from Hell.
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 crew of college students, teachers, and working Moms.
Well, the heat’s been turned up on the issue of sales practices in the senior marketplace. When I heard that U.S. Senate Special Committee on Aging was planning to hold hearings in September, shortly before the second annual Senior Summit, I expected the result would be a mix of downside risk and upside opportunity. I wasn’t wrong.
As a small business owner, you’ve no doubt made your fair share of mistakes. And hopefully you've apologized to your customer(s) afterward and promised to make things right.
Facebook teems with people angry about their bad restaurant meals or a fellow citizen’s sloppy driving. Before the advent of social media, they may have simply left a penny for a tip or shaken their fist at the errant driver. Today, however, they dump their anger directly onto the Internet.
Once upon a time, your business reputation resulted mainly from your own actions and words—and those of your customers. But that’s an old story.
When you entered the business, did you ever think clients would hire advisors on the basis of a CARFAX-like profile? Amazingly, it’s happening now. Are you ready?
Documentation—the practice of summarizing every key client conversation and decision in writing—is a crucial part of your day.
Do you own or operate an insurance or real estate agency? Are you a solo insurance agent or real estate agent or broker? Then you’re likely familiar with the potential risks you face from customers who claim you’ve done them financial harm.
Not all gifts are wise, especially if you’re an insurance agent. That’s because giving something of value to prospects and clients can lead you to violate your state’s anti-rebating statutes.
Read five reasons how E&O insurance protects financial professionals in insurance, investments, and real estate from lawsuits.
Insurance Forums
07/14/2015
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."
Sales Marketing Everyone wants to be a hero, right? Now financial advisors can score big points with their clients by helping them find lost life insurance policies.
The securities industry has been taking it on the chin of late. A recent Reuters investigative report charged that 48 FINRA-member firms have at least 30 percent of their brokers with black marks on their records.
A few months ago, a good friend of ours-let's call him Jerry-met with an investment advisor at a local property-casualty insurance agency. He had used the agency for his home and car insurance for decades.
A life insurance agent who writes the largest annuity of his career heads to the bar to tell his buddies about it, naming the client by name.
Nearly 8 percent of securities-licensed financial advisors have engaged in misconduct over the past ten years. That's according to three U.S. business-school professors who released their findings in a new study entitled, The Market for Financial Advisor Misconduct.
"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.
Insurance Forums
09/04/2015
Financial professionals and agencies operate in a complex environment. That's why they often hire expert advisors to help them make good decisions. For example, they hire marketing consultants to build a website and execute marketing strategies. Or retain an IT expert to optimize their computers and close security loopholes.
Financial-services regulators are doing a slow burn about two widely used marketing techniques: free-lunch seminars and senior designations. After clamping down on abuses in the mid-Oughts, they are now concerned that pockets of advisors are still scorching retirees' financial security, using these common, but sometimes deceptive, sales techniques.
Honestly, who needs online reviews? What business professionals in their right minds would willingly encourage people to rant about their performance in full view of current and prospective customers? The answer, simply, is you! Reason?
In a prior article, we wrote about the "perfect storm" of consumer preferences, technology advances, and regulatory enabling that will unleash an online flood of financial business professional reviews.
You can't fault Gwyneth Paltrow's career choices. The American actress has created an eclectic body of work, starring in art-house films such as Great Expectations and Shakespeare in Love as well as mass-market blockbusters like The Avengers and Iron Man (original and sequels).
Business Ethics Are you your own boss? "Of course," you reply. But even independents have bosses-those who attempt to "lead" you to success. These include your marketing-support firms, your product or service suppliers, and even your professional mentors.
The case of Glenn Neasham is instructive. The California financial advisor was convicted of theft for selling an annuity to an 83-year-old woman who later was diagnosed with dementia.
After being convicted several years ago for selling an annuity to a woman later diagnosed with dementia, Glenn Neasham faced a reputation crisis. He probably didn't need to do much analysis to know his good name had been seriously tarnished.
In today's Internet age, reputation crises are common. On Facebook, hardly a day goes by without newsfeeds buzzing about a celebrity, sports figure, or politician making a gaffe and then apologizing about it.
Who knew it would come to this? In today's social-media era, our reputation consists of what people say about us online. When friends, colleagues, and strangers rave about us-liking our posts, sharing our content, tweeting our exploits-then our reputations soar.
Traveling by air brings out the worst-and the best-in people. This became starkly obvious during an NEA staffer's recent flight from New York to San Diego. While waiting in his seat, he witnessed a dispute.
Back in the dark ages of the Internet-say, around Y2K-business web sites were as primitive as Fred and Wilma Flintstone's Bedrock home. Yes, they targeted worthwhile objectives such as: Broadcasting sales messages to prospects.
Ever been slammed in an online review? How did you react-with calm professionalism or with angry indignation? And did you use the review as an opportunity to improve your business or merely to defend your ego?
Politics is about the selling of candidates and public policies. Unfortunately, in the run-up to the November 2012 presidential campaign, money wasn't the only currency used to get candidates elected. The other was lies.
Imagine a marketplace where your competitors always tell the truth. OK, you can stop rolling on the floor laughing ("ROFL" in Internet speak). But seriously, what would such a marketplace be like?
In prior articles ( The Truth Standard, and ), we wrote about the importance of competing fairly and truthfully in today's marketplace. We termed this practice, "The Truth Standard."
Poor Guy Kawasaki. In the aftermath of the Boston Marathon bombing, the famed author, entrepreneur, and public speaker sent out a promotional tweet that linked to a sign-up page for an upcoming speech.
E-mail marketing has become a crucial part of contemporary small-business marketing. Along with pay-per-click advertising and social-media promotions, e-mail marketing is a powerful means of growing your business.
National Ethics Association is committed to helping businesses service their customers with Transparency and Trust.
If you spend time on the Internet, you know how dangerous a place it can be. But a report from Norton, the large Internet security firm, suggests exactly how dangerous. According to the company's Cybercrime Report: The Human Impact , almost three-quarters (73 percent) of U.S. users have fallen victim to cybercrime.
An employee dies in a hunting accident. A small plane shuttling company employees to a business meeting crashes and burns upon takeoff. A gunman storms into a company and shoots and kills his estranged spouse.
Most of us wake up every day, get dressed, and head off to work. While commuting in, we never worry about getting hurt or dying on the job.
As we write this article, the media is abuzz with accounts of the U.S. Affordable Care Act's flawed enrollment website. Testifying before Congress, contractors blamed the government and each other, but shed all accountability for the site's shortcomings (what else is new?).
There's so much confusion about two simple verbs: "can" vs. "should." Just because you can drive 125 miles per hour on the highway-or leap from one rooftop to the next for sport-doesn't mean you should.
Consumers are flocking to drones (AKA quadcopters) in huge numbers. However, as hobby flyers have probed the new technology's capabilities-enjoying the ecstasy of aerial photography and the agony of crashing-businesses have watched jealously.
How do you execute client communications when when the entire world is awash in information?
Those of you of a certain age might recall the 1980s bestseller, "All I Really Need to Know I Learned in Kindergarten," by Robert Fulgham.
When it comes to compliance, simplicity is not the hallmark of the financial-services business. Whether one is deciphering the now sidelined U.S.
The U.S. Department of Labor Fiduciary Rule, promulgated by the Obama Administration, is all but dead, thanks to Trump Administration efforts to blunt and delay its impact.
Would you sell clients a financial product without fully understanding their appetite for risk? If you did, you'd likely violate numerous regulations mandating that you know your customers and only provide suitable financial products based on a full understanding of their needs.
Public trust has crashed in the United States, the largest-ever-recorded drop in the Edelman Trust Barometer, a global survey of people's attitudes toward their home country's institutions.
In Part 1 of this series, we revealed that public trust has cratered in the United States, indicated by a historic drop in the Edelman Trust Barometer.
For most financial advisors, regulatory compliance is not a favorite part of their job. In fact, they often express negative opinions about it. But when it comes to assuring client privacy, the industry has an effective regulatory framework that advisors should vigorously support.
Boomer Market Advisor
10/02/2006
Ghostwritten article that describes new research linking business ethics with corporate financial performance
Written for my client, the National Ethics Association/EOforLess
Ghostwritten for my client Steve McCarty, Chairman, National Ethics Association/EOforLess
Ghosted article for Steven McCarty, Chairman, National Ethics Association/EOforLess
Written for my client, the National Ethics Association/EOforLess
Don't miss crucial news and insights you need to make informed investment advisory decisions. Join ThinkAdvisor.com now! Free unlimited access to ThinkAdvisor.com which provides advisors, like you, with comprehensive coverage of the products, services and trends necessary to guide your clients in making critical wealth, health and life decisions.
Insurance Forums
05/04/2015
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 to be unbelievable by any reasonable person.
Insurance Forums
11/19/2015
Sales & Marketing news article published by Harry J. Lew titled 6 ethical lessons from America's worst financial advisors
Insurance Forums
04/15/2015
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.
Insurance Forums
09/04/2015
Sales & Marketing news article published by Harry J. Lew titled Avoiding a reputation mud bath: Why your ethical values should trump expert advice
Distorting the truth about a financial-services product might help you close a sale. But it can also hurt your client in the future, leading them to...
If you sell life insurance, you know how complex the process can be. From the initial approach to the close, it can take weeks or months to get to...
As an insurance or financial-services agent or advisor, you're in the enviable position of not having to purchase expensive equipment to transform...
The Securities and Exchange Commission and FINRA have been raising the bar on senior investor safety, conducting several initiatives since 2007. Now comes a report entitled National Senior Investor Initiative: A Coordinated of Examinations. I
18. Miscellaneous Content
American Business Coalition
10/1/23
In the small business world, there's no such thing as a small mistake. Even a minor error can have severe consequences. It might go undetected for months or years but then rear its head suddenly, causing problems for you and your customers. Below are four examples of small glitches that can become big issues over time.
Insurance Journal
03/31/2021
360 Coverage Pros has launched a professional liability insurance program for tax preparers with an online application. The program features liability limits of up to $1 million and is designed for professionals providing predominantly tax-related services including, enrolled agents, annual filing season participants, accountants (CPAs and non-CPAs), and PTIN holders.
American Business Coalition
Being a small business owner and a parent can be complicated. Sometimes the needs of your business and children clash, making life difficult. Your employees have the same problem. Except when their childcare conflicts become significant, they're often apt to quit. Given today's cost of hiring and training employees, losing workers over childcare issues isn't wise.
Health Vision Association
When should you book an appointment with an optometrist? When your eyes are healthy and you need a routine eye exam and vision test. You should see an ophthalmologist if you think you have a serious eye problem and/or need laser vision correction or other surgical procedure.
American Independent Business Coalition
Small business owners will face relentless change in 2023 - in the economy, their industries and how they manage their firms. Below are some issues that may land on your desk this year. Are you ready to address them head-on? Small business owners will continue to see input prices increase after one of the worst inflationary years in history.
Small Business Owners: Technology Will Help You Stay Healthy in 2023
As a small business owner, managing your firm is a priority. But what about staying healthy? Do you work as hard keeping yourself in great physical shape as you do making sure your company stays profitable? If not, 2023 is the year to start.
Insurance sales people often like to talk about how successful they are. But some agents prefer not to talk about their success, but rather to simply...
Are you concerned about where the insurance business is headed? Well, there's good news on the employment front. Despite concern about declining...
GlobeNewswire News Room
09/24/2015
SAN DIEGO, Calif., Sept. 24, 2015 (GLOBE NEWSWIRE) -- via PRWEB - Real estate professionals who have battled the high cost and complexity of purchasing professional liability, also known as errors-and-omissions insurance, now have a simpler way to buy.
National Underwriter, Life & Health
Ghostwritten article for Prudential Annuities Marketing Vice President
Cashin Human Performance Systems
01/15/04
A training module for growing sales skills in all industries
Financial Planning Magazine
Practitioner article on using long-term care insurance in comprehensive financial planning.
19. Business Content Portals (Sole or Partial Contributor)
This glossary provides business insurance definitions for terms you might encounter while researching policies for your business and maintaining existing coverage. By understanding the relevant terms, you can make informed decisions about protecting your business. Compare insurance quotes for your business with Insureon Insurance is complicated, but getting insured is easy.
Workers' Compensation Insurance Save money by comparing insurance quotes from multiple carriers. Please enable javascript to get a quote for small business insurance. WE PARTNER WITH THE WORLD'S TOP A-RATED INSURANCE COMPANIES Because state laws regulate workers' comp, you'll need to research the laws in your state to find the requirements for your business or consult with a licensed Insureon agent.
Pennsylvania Institute of CPAs (PICPA)
National Small Business Week began in 1963 when President John F. Kennedy signed a Presidential Proclamation recognizing the entrepreneurial spirit and the critical role small businesses have in our country.
Americanbusinesscoalition
The Association has a proud tradition of enrolling new members. With a growing membership base, the American Business Coalition is one of the fastest growing associations in the country that is focused on the consumer, small business owner, self-employed individual and their families.
The COVID-19 pandemic has frozen economic activity. Have you reacted by cutting expenses? If so, be careful about cutting essential insurance. Has government-imposed social distancing reduced your access to prospects, freezing your ability to bring in new business? Has your income fallen so much... E&O claim prevention often focuses on laws, regulations and business practices.
Stay current with industry news, products, services & more. Have you ever wondered how your insurance company determines the premium for your accountant professional liability insurance? This article shows you exactly what's involved. As an accountant, CPA, bookkeeper or tax preparer, you've likely heard about accountant's professional...
E&O Insurance Content Platform for BCS Insurance
3.9 million is the average cost of a data breach. (IBM) Protect your business against the high financial costs associated with a data breach. Coverage starts at just $199/year. https://bit.ly/2ZEIO91 #360CoveragePros #cyberinsurance
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Insurance Forums
12/21/2015
Insurance Forums
07/25/2018
New demands and expectations from clients and prospects call for strategic changes to keep up, stay relevant and close more sales. This article offers five needed changes largely on how you present yourself and how you relate to customers.
National Ethics Association is committed to helping businesses service their customers with Transparency and Trust.
Legacy Project Archive: Pre-2005
Avanza Communications, LLC
Comprehensive list of insurance/financial service writing/marketing projects
Avanza Communications, LLC
Comprehensive list of writing/marketing projects for management consultants and professional services firms
Avanza Communications, LLC
Comprehensive list of writing/marketing projects for entrepreneurs
Insurance Agent/Financial Advisor Education: Compliance
United States
