In this blog, I'd like to ask your help on a few important issues. As I enter my seventh month of independence, I find some areas in which I have questions. Some of the areas include no-load life insurance, compliance solutions, information on going paperless, and software to create investment policy statements. Below are my questions in more detail. If you would like to comment on a more confidential basis, you could send me an e-mail rather than post on the blog.
Life Insurance
I'm looking for competitive no-load life insurance products for an RIA advisor.
I got a quote recently from a well-known insurance company. The premium wasn't much different and, in fact, was even higher than some fully loaded quotes I received. I was very surprised as I expected a substantial reduction because of the lack of a sales commission. Could it be that the no-load market is too small and the law of large numbers hasn't kicked in yet?
Any help here would be appreciated.
Compliance
ATTENTION ALL RIA's: I'm looking for a low-cost compliance solution, if one exists.
What have you done in this area? Do you use an outside provider or do you do it all in house?
