DOL Resources

THE DOL FIDUCIARY RULE IS IN EFFECT…

  • How can you make sure your business isn’t disrupted?
  • How can you make sure you protect your clients and yourself?
  • Haven’t you always put your client’s interests ahead of your own?
  • How can the DOL Fiduciary Rule enhance your business and your practice?

Via transparency, you will demonstrate the advantages of your recommendations – The Advantages of Owning Life Insurance and Annuities

Transparency is going to help you help your clients…

With newfound capabilities, you will be in a position to write and manage more business than you might have ever expected!

The ABS proprietary platform/software.

The ABS proprietary platform/software provides a different kind of training that you really need!

Then, advisors and ABS representatives collaborate on individual case design that you can’t get anywhere else, via One-on One GoToMeeting sessions every day.

Yes, as most of us know, the Department of Labor’s initial implementation phase of the “Fiduciary Rule” took effect June 9th 2017.   We expect many changes before the proposed full implementation at year-end it.  Regardless of those changes, it is important to document your process for making recommendations.   You must now follow the fiduciary standards under the Prohibited Transaction Exemption (PTE 84-24).

But it also very important that you make adjustments in your practice to grow your business, and enhance client perspectives!

ABS feels that if you genuinely educate your clients and prospects in regard to the planning issues they must understand, they will then be in a position to make educated decisions and reposition assets accordingly!  They will do this because they seek the advantages, the protections, and the benefits of products manufactured by life insurance companies; life insurance and annuities.

The team at ABS is set up, prepared, and here to help!

What steps should you start taking?

  • Complete a PTE 84-24 Disclosure Form for all sales involving qualified retirement funds.
  • Document your process for making recommendations, including your client’s needs and risk profile.
  • Replace all carrier applications with the most updated forms to include any additional required disclosures.

ABS is providing the following tools to help you meet your Fiduciary Standards under the Prohibited Transaction Exemption (PTE 84-24)

  1. Click here to download the “Fiduciary Acknowledgment of Prohibited Transaction Exemption 84-24”
  1. AssessBEST Sales Maker and Compliance Checkpoint system (Click here for more information)
  1. ABS Annuity Search Engine to document and search the entire marketplace. Your individualized searches can be saved and help document the recommendations you make to your clients (Click here for more information)

That’s not enough…

Documenting your due diligence in regard to income planning is important and essential. However, it is also important to document the reasons for advising clients to consider a particular product over others.  The top product may not be the best product when all interests, needs, and wants, are discussed. The bottom line is that financial professionals must be able to calculate and understand the metrics, relative to a lot of different numbers, in order to compare the various product choices or retirement/financial planning strategies, and form a professional’s opinion, as to which products provide an optimal solution.

The ABS Platform provides genuine and unique insight, and we prove it daily!

Ask your ABS representative for a demonstration of our Safely Leveraged Retirement Planning Strategies™ (or SLRPS™).  Essentially ABS will help you help your clients reposition assets to eliminate stock market volatility, and provide structured retirement income planning strategies, with or without, legacy planning, or long term care solutions.

Do you have additional questions?
If you have any questions about the DOL Fiduciary Rule and how to make sure you are protecting your practice, call our office at 888-227-3131, ext. 500

 

Comments are closed.