Regulators do not yet require it, but some may want to start
While regulators do not yet require insurance advisors to disclose their commissions, some may want to do so in the spirit of transparency.
So Byren Innes, director of the NewLink Group, has created a dynamic spreadsheet where you can enter your actual commission schedule and premiums so clients can see how much they pay you in dollars.
Notice that the longer they own the product, the lower the percentage commission you get over time.
The complexity of such an arrangement necessitates cooperation between financial advisors and accountants, experts say
The clampdown includes the sale of unsuitable universal life policies
Vericity includes insurance carrier Fidelity Life and direct-to-consumer agency eFinancial
Total premiums collected by insurers also rose in 2022, according to the CLHIA
Help clients get the maximum benefit from these accounts
Laurentian Bank has announced further executive shifts following its leadership change earlier this month
Ontario court allows U.S. shareholders to pursue both cases
Report finds the technology is being used to segment clients and generate insights