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Lawrence Groves- June 2005 The last few years have been a period of heightened scrutiny and scandal for the financial services industry. Most recently, the SEC issued a report on pension consultants regarding conflicts of interest and the objectivity of advice given to retirement plan sponsors. It’s become vital to the success of insurance and financial advisors that they differentiate themselves with their exemplary ethics, that they operate by a higher moral code and that they communicate that higher standard to their clients. Why? Because research proves that ethics builds trust, and trust sells — in the long-term and - in the short-term, as well. Taken from the SEC report and the information provided by the Dept of Labor, below are Affirmations of Ethical Behavior for Financial and Insurance Industry Representatives. The Ten Affirmations of Ethical Behavior 1.If registered with the SEC or a state securities regulator as an investment adviser I will provide my clients with all the disclosures required under those laws (including Part II of Form ADY). 2.I will describe any relationship I have with money managers that I recommend, consider for recommendation, or otherwise mention to the plan. 3.I will describe any payments I receive from money managers I recommend, consider for recommendation, or otherwise mention to the plan for consideration. 4. I have prepared policies and procedures to address conflicts of interest or to prevent conflicting payments or relationships from being a factor when providing advice to my clients. 5.I will monitor and reconcile the amount of commissions paid when using brokerage commissions to pay consulting fees and alert plan sponsors when consulting fees have been paid in full. 6.I have established procedural steps to ensure that the plan receives the best execution for its securities trades when the consulting fees are paid with the plan’s brokerage commissions. 7.I will describe any arrangements with broker-dealers under which I will benefit if money managers place trades for their clients with such broker-dealers. 8.If hired, I will acknowledge in writing whether or not I have a fiduciary obligation as an investment adviser to the plan while providing consulting services. 9.I will acknowledge whether or not I consider myself a fiduciary under ERISA with respect to the recommendations I provide the plan? 10.I will describe the percentage of my plan clients that utilize money managers, investment funds, brokerage services or other service providers from whom I receive fees? Post these affirmations on your website and include them in your marketing materials. If you complete the affirmations for prospective clients, you will have distanced yourself from the scandal ridden and differentiated yourself in an industry where the value added to products and services is quickly commoditized
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Advice Home Business Technology Online Advertising Motivational Internet Marketing SEO Help Online Games Science Articles Happiness More Articles:1. Leverage The Power Of Using Flyers To Advertise Your Online Product or Service Offline By Oliver Bowen One commonly overlooked method of advertising offline is flyers. Flyers are extremely easy to create. They also allow you to exhibit some of your creative side, making it just that much more fun to make money.In some areas, you may be able to put up over 1,000 flyers! The more flyers you put up the better chances you have of making money.Just go to the web site of the product your promoting, and save their web page to your hard drive. Modify th… 2. Four Tips for Finding Top Niche Markets By Monique Hawkins If you want to make it in the Internet business world, you need to know how to find top niche markets. You will need to learn about niche markets and what they are, and how to find customers who are passionate and about a product or service. Research also is important. Promoting a product or service to a niche market is not about you falling in love with it first and then trying to sell it to people. It is about you providing the product or ser… 3. Do You Really Know Your Prospect? By Lisa Packer I’d like to introduce you to someone. I don’t actually know his name, but I’m hoping you do. I’m hoping you know quite a bit about him.He’s your target customer – the person most likely to buy what you have to offer. He is the person responsible for your paycheck. He pays your rent and feeds your kids. Or at least, he will, once you convince him to buy from you.But to convince him, you have to know him. Intimately.I know, I know – this is eleme… 4. Breaking the Ice on Promotional Items There are numerous ways to market your business. The most popular is with the use of mass media. However, this is a very exorbitant option. A page in the broadsheet may mean a notable sum. A 60-seconder ad in radio or television is even more taxing. To keep away from expensive advertising and marketing, there must be an alternative that can result to same effects but will cost us less. One of the good alternatives is the use of promotional items.… |