Ethics Edge - June 2008

Survey Says: NEB
Members Want
Better E&O Insurance

Thanks to all NEB members who completed our recent E&O Survey. A large percentage of the membership responded and the verdict is in: Nearly 90 percent of members have the freedom to purchase their own coverage, and of those, nearly 95 percent said they’d be likely to purchase E&O insurance through NEB, based on the proposed enhanced features.

In terms of desired standard features, more than three out of four members would like to see the NEB E&O plan offer automatic eligibility with simplified underwriting. Similar numbers said they’d want coverage retroactive to the | Continued »

NEB Provides Free Content to Financial Services Organizations Wishing to Promote Ethical Business Practices.

SAN DIEGO, CA, June 11, 2008—The National Ethics Bureau (NEB), a membership organization of background-checked financial professionals, has developed a new version of its Ethics Edge electronic newsletter for financial services organizations that wish to do their part to promote ethics business | Continued »

The NEB Publishes Guide for Financial Services Organizations Wishing to Promote Ethical Business Practices

SAN DIEGO, CA, April 14, 2008—Financial services organizations that want to do their part to promote ethical business practices have a new resource available: the National Ethics Bureau’s Sponsorship | Continued »

The National Ethics Bureau™ (NEB) is a leading advocate for business ethics in the financial services industry. NEB promotes ethical business practices through its trade-magazine columns, conference presentations, monthly newsletter, and website content. It also maintains a membership community of background-checked advisors who have agreed to uphold its principles and membership standards.

NEB offers related services such as state-approved ethics and compliance continuing education courses for licensed insurance agents and securities brokers, as well as for those holding accredited designations.

For the general public, NEB provides the ability to purchase a background check on any financial professional prior to doing business.

NEB is not a financial designation, nor does it endorse any products or services offered by its members or sponsors.

For more information, visit www.ethicscheck.com.

	Don’t Play Games with Your CE
June 2008
Continuing education requirements are a fact of life for most financial professionals. The vast majority dutifully complete their courses, take their exams, and do a better job for their clients as a result. However, a few opt to game the system by recruiting others to take their tests on their behalf—or to take tests for other people in their firms. If this unethical and illegal practice has ever crossed your mind, banish the thought now. That’s because playing fast and loose with CE can earn you a big fine or even a suspension from the business. Just ask the State Farm representatives who recently got caught by their company and ultimately \| Continued »

Rogue Advisors on Parade
Recent crimes and and consequences in the financial services industry.
A Texas advisor pushes phony gas deals. A Connecticut insurance agent grabs client funds. A California life agent makes off with $300,000.

	Is Your Ethics Edge Getting Dull? Take Our Quiz.
	You’re ethical, right? You do thorough fact-finding with clients. You recommend only suitable products. You believe in full disclosure. And since you do these things, your clients believe you are ethical. So what’s the problem?
The problem is you’re a human being. That means you’re hard wired to get comfortable when life is good. The more success you achieve, the more likely this will happen. And when complacency erodes your commitment to ethics, you’ll be on thin ice before long. How to avoid skating there? By periodically testing—and sharpening—your ethics edge. The quiz below \| Continued »

Reconnect With Your Clients This Summer.

In just a few days, it will officially be summer! It’s finally time to slow down the pace, crank up the barbecue, and . . . touch base with your clients.

Calling them to see what’s new with their financial situation is an excellent idea. Obviously, clients will be happy to hear from you all year round. But in the summer, when living is a bit slower, they may welcome your call even more. | Continued »