6 Compliance Risks Annuity Sellers Face In COVID Times 15
April 8, 2020 by Steve Morelli
Market downturns can create annuity sales opportunities, but agents and advisors need to be taking steps to protect and prepare themselves because history will look back on how advisors and the industry conducted business during the crisis.
This was the central message of “Extraordinary Times call for Extraordinary Measures,” a National Association for Fixed Annuities webinar on compliance risks, conducted by Summit Compliance.
Although compliance risks exist during typical times, advisors’ exposure increases as clients take losses from investments, and even as a result of action by a broker who might be upset about money that they were managing moved to annuities, said Maureen James, a Summit Compliance principal.
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