Insurance agents posing as advisors is more common than you may realize and can create conflicts of interest. The key is having better awareness. Don’t get fooled again!
In this episode of the Finance for Physicians Podcast, Daniel Wrenne talks about five ways to identify whether you are working with an insurance person who is posing as a financial advisor.
- Sign #1: Aggressive posers seek you out after making contact or via referrals
- Sign #2: Posers offer you free or low-cost financial “advice”
- Sign #3: Posers act as trusted advisors; don’t refer to themselves as salespeople
- Sign #4: Advice and product solutions offered by posers are similar across clients
- Sign #5: Agents posing as advisors make it difficult to leave them/their products
National Association of Insurance Commissioners (NAIC) – State Based Systems
How Conflicts Of Interest Muddy the Financial Advice Waters with Donovan Sanchez
Contact Finance for Physicians