Life Industry Advisor Screening, Contracting, and Compliance Monitoring Initiative Extends to Canadian Deposit Broker Services Industry
PR Web |
LOGiQ³ Corp. (LOGiQ³),
Gerri notes, “Financial institutions now have the opportunity to collaborate with a professional organization such as LOGiQ³ to provide a long awaited solution to help satisfy compliance and regulatory obligations”.
“Financial Institutions are already well regulated, and this service will not only complement their current risk management program in the deposit broker industry, but will create consistent standards for all stakeholders,” Clementine adds.
Just as insurance companies are continually faced with increasingly stringent compliance requirements, financial institutions in the deposit broker distribution channel are obligated to “Know the Broker.” It makes sense for these institutions to come together and look to LOGiQ³ to launch a plan that would reassure them that their deposit brokers are meeting their contractual obligations, as well as their regulatory and compliance responsibilities.
As LOGiQ³ has been working for over a year to spearhead this initiative to create a national service for all advisors who sell insurance products through the independent distribution channel, the plan to add the deposit brokers to this national service is a logical progression. Ultimately, the plan is to capture the advisor’s information once as opposed to developing a separate instance for each product the advisor is selling. We believe that almost 50% of insurance brokers today are currently selling fixed term investments. In expanding to the deposit broker industry, LOGiQ³ further eliminates the redundancy of having to screen and possibly audit the same advisor for each product they offer.
In the deposit broker industry, brokers across
For more information, visit http://www.logiq3.com/distribution.
About LOGiQ³:
LOGiQ³ is the expert provider of life insurance and reinsurance consulting and outsourced services. LOGiQ³ delivers long-term strategic solutions and short-term tactical support across Underwriting,
Notes for
For any questions, please contact:
Assistant Vice President
natalie.ho(at)logiq3(dot)com
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