For some time I noticed a pattern developing over a period of years. I’m embarrassed to say how long it took me to figure this out. But I did. Apparently I’m dense.
I identified several key factors that lead me to one inescapable conclusion: The compliance officers I reported to were consistently in their 30s, relatively new to financial securities and knew nothing about insurance products, their tax advantages, their contractual imperatives and human physiology as it related to underwriting.
All these years I had been genuflecting, bowing low and paying homage to these people who lack the basic skill sets and knowledge to assess my non-FINRA insurance product communication. I had groveled and curtsied to all these compliance officers, who had no clue what I was talking about, but nevertheless made judgment calls on my advertisement language and client communication.
My time sensitive submissions were bottlenecked in compliance as they invented say-nothing responses that never addressed the issues. I was prostrating myself at the feet of people, who were completely vacant and out to lunch on non-FINRA life and annuities. You need to interview the compliance department before you attach your practice to the company and secure some sense of their approach to advertising in the public domain.
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