Insurance | nVest Advisors

Our New Life Insurance Partners

One of the challenges we've had with being a fee-only financial advisory firm is that we cannot take care of our clients' insurance needs ourselves, because insurance nearly always pays a commission and we've vowed to keep commission-related conflicts of interest out of our business model. While we don't believe all commissions are "evil", or

A quick review of permanent vs. term insurance

When faced with the wide range of life insurance coverage available, you may wonder what type fits your needs now and what coverage you should consider for future needs. A good first step is to look at two basic types of insurance coverage: whole life and term life. Whole Life Insurance—Cash Value for Your Dollar

August 29th, 2017|Categories: Insurance, Investing General, Mailchimp|Tags: , , |

The DOL Fiduciary Rule: What it means to you.

Fiduciary An individual in whom another has placed the utmost trust and confidence to manage and protect property or money. The relationship wherein one person has an obligation to act for another's benefit. (Source: http://legal-dictionary.thefreedictionary.com/fiduciary)   There's a tremendous amount of debate in the financial industry about the US Department of Labor's proposed Fiduciary Rule, but very

Beware the Sketchy Salesperson: 10 signs you should do business elsewhere

Nearly every investment professional built their book of business by winning their client accounts away from another advisor or firm. It’s just how the business is done, unfortunately. If you have assets, we in the financial industry will all be in competition to be the manager of those assets. Whether it’s your bank or credit union, your insurance agent, a registered rep in a brokerage firm, or an independent firm like nVest Advisors, we’re all competing to earn and keep your business by offering a unique value proposition based on product, price, and service. Sometimes the competition for your dollars makes the agent or rep feel the need to use questionable, even unethical, tactics to try to win your business. In the process of earning new clients’ business and hearing how and why they were in the products they were sold, I’ve heard clients relay some real whoppers. I’ve also been in competitive situations where multiple companies are talking to the same pool of prospects, and have heard many of them first-hand. It’s fine, I suppose, to always put your product or service in the best possible light. Here at nVest Advisors, we have a company creed of Aggressive Honesty as a primary sales strategy. That means, we’re eager to be transparent and we proactively identify our own strengths and weaknesses to the best of our ability. Granted, not all firms believe you should always tell the client what they need to hear (rather than what they want to hear), but there needs to be a clear line where acceptable “spin” ends and deception begins. The bottom line is, every product, company, and yes, financial professional, has various pros and cons. Accentuating your strengths isn’t unethical. Handling objections isn’t unethical. Lying, whether by direct statement or by omission, most certainly is. As you talk with financial pros, all of whom want your business, here are a few (sadly) common sales tactics used by sketchy salesperson that should, at least, raise your suspicion. (And at worst, should have the agent or broker run out of the industry, in my opinion.)  

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