New system needs more work to mesh with firms’ internal systems
The new system is expected to reduce delays and increase convenience for those selling insurance products
Transamerica Life had alleged that the employee should have reported an alleged scheme to generate improper commissions.
The broker frequently referred clients to other brokers, including his ex-common law spouse and his girlfriend
Industry-wide database offers better monitoring for life insurers, MGAs
Misconduct by a dually licensed agent may result in having the agent’s insurance license revoked or suspended
Keeping paper records of insurance documents is outdated, unreliable and inconvenient - think: misplaced papers and overflowing filing cabinets. Going digital means your documents are organized and searchable automatically
As insurance advisors face increasingly rigorous regulatory requirements, keeping accurate client files has become crucial in demonstrating your compliance should a client complain
Advisors in the brokerage and mutual fund channels have been slower to adopt the new technologies
Revamped qualifications could discourage candidates