Annuity Agents Charged $16 Million in Fines for Giving Investment Advice

February 26, 2007 - Minneapolis, MN - Do you sell annuities? Even if you are not selling Registered or Variable Annuity products, every word out of your mouth is under the scrutiny of the SEC and you may not even know it. Living in fear is not how you want to run a business. But afraid you should be.

The Arizona Commission recently ordered Arizona insurance agents to pay over $16,265,853 in restitution to investors for the sale of EIAs. The SEC is getting involved State by State, now is the time to take a proactive position to protect yourself, your business, and your family.

"Equity-indexed annuities are a concern of ours," NASD executive vice president for enforcement James S. Shorris said in a recent interview with InvestmentNews. "In particular, the practice of registered representatives making recommendations to surrender variable annuities, mutual funds or other types of securities to put money into an equity-indexed annuity." 

The good news is that there’s an answer. It solves all your worry, gives you more credibility, and creates additional revenue opportunities. Ask yourself these questions:

• Do you write over $ 500k in EIA premium annually?  
• Would you like to stop conservation tactics from other brokers? 
• Are you concerned about the SEC's "Free Lunch" seminar sweeps? 
• Are you non-registered and concerned about giving securities advice to clients? 
• Are you unhappy with BD restrictions and haircuts on EIA business?
• Have you been considering an Independent RIA platform and series 65?

Become a Registered Independent Advisor (RIA), and solve your worries. We will handle all of your suitability issues and educate you on the many benefits that are available to your practice.

It is essential in today's market to be known as a trusted advisor rather than a commission-driven salesperson. As an RIA you can position yourself as a trusted, credible advisor with no fear of the NASD. Offer comprehensive financial planning services that set you apart from the competition and add value to your practice. If you sell to boomers or seniors this is the most important insurance notice you will receive all year.

We work with many top fixed annuity producers in the country and we understand the importance of first year commissions.  We support and encourage your current indexed annuity business and are here to add to your practice (and protect it). 

For more details on how we can help your business and to receive your Free RIA Quick Facts, call us today at 800.441.1219 or go to:
http://www.insurance-mail.net/RIA-Notice.asp

For more information contact:

RIA, LLC
Nate Lucius
Minneapolis, MN
800-441-1219