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Life Health > Life Insurance

Your Assistance, Please!

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In this blog, I’d like to ask your help on a few important issues. As I enter my seventh month of independence, I find some areas in which I have questions. Some of the areas include no-load life insurance, compliance solutions, information on going paperless, and software to create investment policy statements. Below are my questions in more detail. If you would like to comment on a more confidential basis, you could send me an e-mail rather than post on the blog.

Life Insurance

I’m looking for competitive no-load life insurance products for an RIA advisor.

I got a quote recently from a well-known insurance company. The premium wasn’t much different and, in fact, was even higher than some fully loaded quotes I received. I was very surprised as I expected a substantial reduction because of the lack of a sales commission. Could it be that the no-load market is too small and the law of large numbers hasn’t kicked in yet?

Any help here would be appreciated.


ATTENTION ALL RIA’s: I’m looking for a low-cost compliance solution, if one exists.

What have you done in this area? Do you use an outside provider or do you do it all in house?

Investment Management Fees

Do any of you charge a fee for managing money other than commissions or as a percentage of assets? For instance, do you charge a flat rate?

Financial Planning Fees

If you charge a fee for this, what do you base it on? Is it a flat fee, an hourly rate, or some other method?

Paperless Office

I’m looking for information on going paperless. Have any of you done this? How did you do it? What software do you use?

Investment Policy Statement

I’m looking for suggestions on software to create customized IPSs. Do you use an off-the-shelf product or did you create your own?

Thank you for reading and I would greatly appreciate any help you can give on these topics.