Conflicts of Interest – Fixed Indexed Annuities – Best Practices

$100.00

This compliance checklist is intended to assist an investment adviser identify and mitigate some of the conflicts of interest associated with the investment adviser firm’s supervised persons who also serve as an insurance agent and sell fixed indexed annuities (“FIAs”) for commissions to investment adviser clients.

Description

To the extent that an investment adviser firm permits its affiliates and/or supervised persons to offer for sale fixed indexed annuities (“FIAs”) and receive commissions for such sales to individual who are also investment advisory clients, the SEC and state securities regulator have taken the position that these types of arrangements generally create various conflicts of interest for the investment adviser firm depending upon the circumstances. This checklist identifies and describes some common and less common conflicts of interest facing an investment adviser firm which permits its investment adviser representatives to sell FIAs to its investment advisory clients.  The checklist review certain best practices for disclosing and mitigating the conflict of interest associated with the sale of fixed indexed annuities.

The sample checklist discusses how an investment adviser firm should draft generally a conflict of interest disclosure associated with a supervised person acting as an insurance agent who sell FIAs to investment advisory clients for commissions; however, this checklist does not provide sample disclosure for the Form ADV Part 2A.

This sample document  is delivered via the purchasers online subscription account with RIA Compliance Consultants.

Included with Bronze, Silver, Gold and Platinum Packages.  Last updated August 2021.

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Delivery

Before this product can be purchased, the purchaser will be directed to electronically sign a terms and use agreement.  After signing that agreement, the purchaser will be redirected to the purchaser’s shopping cart to complete the purchase transaction.

If this product involves the purchase of a sample document on a la cart basis (not part of an annual compliance program subscription), the purchaser will have three ways to access this sample document: 1) Following payment, the purchaser will be redirected to a thank you page with a button to download the sample document; 2) The purchaser will receive an invoice email with a link to download the sample document; 3) If the purchaser has an account or elects to create one at the time of checkout, this sample document can be accessed from the “Downloads” section of purchaser’s My Account page. The purchaser will have 90 days to download sample document, which is limited to 3 downloads during this period.

If you experience any issues when making the purchase, please email delivery@ria-compliance-consultants.com

Disclosures

This sample document is merely an example for general reference and educational purposes.  RIA Compliance Consultants, Inc. is providing this sample document to the purchaser on an “as is” basis with no warranty or guaranty whatsoever.  

This sample document should be considered a starting point, and purchaser should not treat this sample document as a final document ready for use.  The sample document has not been customized to the purchaser’s business model, the specific investment advisory rules applicable to the purchaser’s investment adviser or the written supervisory procedures and code of ethics of purchaser’s investment adviser.

This sample document may not be applicable or appropriate for every investment adviser. The purchaser should not consider a sample document purchased from our online store as an exhaustive, comprehensive or definitive list of the items necessary to meet the purchaser’s obligations under the applicable investment adviser laws and rules.

This sample document is not intended to detect or prevent fraud, selling away, Ponzi schemes, undisclosed outside business activities, inaccurate or false fee calculations, theft, misappropriation or unlawful conversion of client funds.

Due to changes of investment adviser laws and rules, this sample documented may become outdated and need to be updated or discontinued.  RIA Compliance Consultants, Inc. will not be providing any subsequent updates of this sample documents to the purchaser.  Likewise, RIA Compliance Consultants, Inc. will not be monitoring and reporting to the purchaser any issues related to the use of this sample document. 

Since this sample document may not reflect the specific investment advisory requirements of the purchaser’s securities regulator, the purchaser should check with the securities regulator(s) with jurisdiction over its investment adviser or review any applicable rules before using this document.

This sample document is not a substitute for retaining a compliance professional to advise and assist the purchaser regarding its investment adviser’s compliance program. Unless otherwise agreed to in writing, the purchaser understands that the purchaser has not engaged RIA Compliance Consultants, Inc. in a consulting relationship by merely purchasing or utilizing a sample form. Additionally, the purchaser understand that unless otherwise agreed to in writing, RIA Compliance Consultants, Inc. is not responsible for customizing this sample document, updating the sample document, preparing the purchaser’s written supervisory procedures or code of ethics, or notifying the purchaser of changes to the investment adviser laws and rules.

Purchaser is not authorized to re-sell this sample document nor license the use of this sample document to a third-party. 

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