Online/Interactive 84-24 Disclosure Form AND Best Interest Questionnaire

I know advisors will struggle with finding the right forms and then using them in a regimented manner (meaning for EVERY client). So, I looked at what the insurance companies put out and then took from them language to make what I think is the best 84-24 disclosure form. I also put on the site a Best Interest Questionnaire that I recommend be used with every product sale.

You can literally go to the following website, fill in a few boxes, click submit, and the site will create a clean PDF you can print for signature and save in your files.

To give it a try, go to: www.8424compliance.com

As I stated in my newsletter earlier this week, advisors will have to follow Prohibited Transaction Exemption 84-24 in order to be in compliance.

What does that mean from a practical standpoint?

It means advisors MUST have clients sign a disclosure and acknowledgement that discusses or discloses several items like:

-surrender charges
-commissions
-several different potential conflicts of interest

Most insurance companies put out their own generic forms advisors can use and there is nothing wrong with that. However, I figure an online/interactive form that can be filled in online and then printed is a much much better way to go. That’s why I created www.8424compliance.com.

Feedback

If you have any feedback on the form or the Best Interest Questionnaire, feel free to email me or give me a call.

Next week I’ll be a putting on the site a longer Best Interest Questionnaire for those who want to gather and document that they have more information from the client to make a recommendation for the purchase of a commission-based product in an IRA or qualified plan.

FIAs With Tiered Commissions

If you are planning to sell FIAs in IRAs, you’ll definitely want to sign up to learn about FIAs that pay tiered commissions (they will be a vital tool for those who want to sell annuities after June 9th). Click on the following link to learn more:

http://strategicmp.net/fias-with-tiered-commissions

Roccy DeFrancesco, JD
269-216-9978
roccy@strategicmp.net