Ethics Edge - February 2008

Last Call: Update Your NEB Logo Now
In 2007, the National Ethics Bureau refined its logo to enhance its member value and to respond to compliance issues. The new logo had a cleaner appearance, was more readable at small sizes, and was available in several formats for use in various marketing applications. Effective March 23, 2007, we began granting new members rights to use only the updated logo. We also asked existing members to transition to the new logo no later than May 1 \| Continued »

Ethical Values Help Financial Professionals Weather Economic Uncertainty, Says the NEB.

SAN DIEGO, CA, January 28, 2008—With the current economic uncertainty, financial professionals should recommit themselves to high standards of ethics and integrity. According to the National Ethics Bureau, a membership organization of background-checked financial professionals, this requires upholding the following key principles of | Continued »

NEB President Jeffrey S. Kopitz Discloses the Benefits of Full Disclosure.

SAN DIEGO, CA, January 28, 2008—NEB President Jeffrey S. Kopitz recently disclosed to readers of Life Insurance Selling that full disclosure is a key strategy for building optimal client trust.

Writing in the magazine’s January 08 issue, Kopitz said that non-disclosure is just as serious a matter as misrepresentation. “If you routinely fail to provide key information to your prospects, and you do this for your own benefit, then you are in the same position as a lobster placed in a pot of lukewarm water: totally unaware of the hot water that will soon engulf you.” | Continued »

The National Ethics Bureau™ (NEB) is a membership organization of financial professionals who have successfully passed a comprehensive series of background checks and have agreed to maintain NEB membership standards. All members are admitted into NEB’s online national registry, where consumers can view a member’s approval status and professional profile.

NEB also advocates for business ethics and consumer protection through its trade-magazine columns, conference presentations, consumer guides, monthly Ethics Edge newsletter, and web site: www.ethicscheck.com.

NEB is not a professional designation, nor does it sell or endorse any financial products.

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	Join, Don’t Fight, the Senior Protection Movement
February 2008
Regulators and lawmakers are ramping up efforts to protect seniors in response to increasing levels of senior fraud. But rather than view these efforts as yet another regulatory burden, financial services companies should recognize opportunities to build stronger relationships with senior clients and leverage existing technologies and processes. This advice comes from a new study entitled, “Elder Abuse Regulations: Reporting Burden or New Opportunities for Financial Services,” published by the Tower Group, a Massachusetts-based financial services consulting firm. Although the study was produced for financial institutions, its core findings are relevant to financial advisors, who typically bear the brunt of regulatory \| Continued »

	Love Your Clients, Not Yourself
	Remember Narcissus? He was the beautiful youth in Greek mythology who refused all offers of love. As punishment for his indifference, he was made to fall in love with his own image, eventually pining away and turning into a flower.
Does the financial services business have too many narcissists—advisors who are too busy contemplating their own “beauty” to care much about anyone or anything else? I believe it does. Here are some telltale symptoms: Being blinded by one’s goals—Many advisors get distracted by money, toys, and the latest hot product or selling system. As a result, they lose sight of the fundamental value they could bring to their clients over the long term. \| Continued »

Edge Out Your Competitors

As a member of the National Ethics Bureau, you have a huge advantage in the marketplace. You’ve passed the industry’s most comprehensive background check. Plus, by virtue of accepting NEB’s Ethics Pledge, you have committed yourself to upholding high standards of ethics and integrity.

From a prospect’s or client’s perspective, it makes a lot of sense to do business only with NEB approved financial professionals. Given what’s at stake, this helps them avoid unscrupulous financial advisors and damaging investment scams. | Continued »

	A Friend in the Business
	John LaSota isn’t just a financial advisor to his clients. He’s their friend. That means he does a lot of things that aren’t in his “job description.” For example, he talks to them when they’re in the hospital, he takes them golfing (even when they don’t see well enough to play), and he takes out their trash after making “house calls.” “All my clients want is a friend,” LaSota says. “And that’s what I become to them.” During his seminars, he tells them, “I’m looking to grow old with you.” In today’s financial environment, seniors are
confused about their financial options and worried they’ll run out of money. Having a friend like LaSota is a huge comfort. As President and CEO of LaSota Investments in Lemont, Illinois, LaSota has leveraged his ability to build caring relationships into a successful investment and estate-planning firm. \| Continued » Become NEB's next Member of the Month! (click here)