Harold Geller

Good questions equal good advice

It should go without saying that financial advisors have a duty to know their clients. This means that they must inquire about their clients’ financial circumstances. How can a financial advisor go about this process without being intimidating and yet still manage to get the information they need to provide good advice? The answer may […]

By Harold Geller |November 9, 2009

3 min read

Living Benefits

LTD: Helping claimants when they are most vulnerable

This is the final installment of a three-part series. View part one here and part two here. An insurance agent who offers group benefits and/or individual disability benefits will experience the time-consuming and difficult task of helping clients make benefit claims. While it’s tough, it’s also a source of client appreciation for your efforts as […]

By Harold Geller |July 30, 2009

5 min read

Living Benefits

Long-term disability claims — the individual policy

Obtaining up-to-date information about the insured area of specialization; and Providing up-to-date income information and making recommendations on potential increases in benefit dollar value coverage. The secondary but significant benefit to an agent who offers continuing service is the opportunity to maintain client contact. Close contact offers a wonderful marketing opportunity if clients or their […]

By Harold Geller |July 16, 2009

4 min read

Living Benefits

Long-term disability claims: Helping clients and their group members

Prior to forwarding the applications to the insurer, check them for completeness. Explain to applicants the pitfalls of incomplete or misrepresentative information in an application. Explain to applicants the pitfalls of incomplete or misrepresentative information in an application. Prior to forwarding the applications to the insurer, check them for completeness. If required, confirm the employed […]

By Harold Geller |July 2, 2009

6 min read

Life

Legally speaking: Restrictive covenants in advisor contracts

All restrictive covenants should be negotiated prior to the commencement of the contractual employment or services relationship; Parties must carefully negotiate a clearly defined geographic area as well as a reasonable and limited time for the restrictive covenant; Do not add unnecessary or overly restrictive terms to a restrictive covenant; and Specifically indicate in the […]

By Harold Geller |June 1, 2009

4 min read

Planning and Advice

Avoiding liability (Part 3): Your KYC process and other tools

The Know Your Client (KYC) process is commonly misunderstood. In general, the misunderstanding is born of the financial advisory and planning services’ history of being purely sales driven before it turned into a true profession. The misunderstanding is easily corrected, and should be, since correction is likely to result in more effective client communications, improved […]

By Harold Geller |April 7, 2009

6 min read

Planning and Advice

Legally speaking: Avoiding liability in uncertain times (Part 2)

Part 2: Letters of engagement and your “get out of liability free” card. This three-part series, advice that reflects lessons learned during past economic downturns, is written to help advisors avoid risk during these turbulent times. Professional financial advisors and planners beware. Clients look to you for advice and rely upon what you recommend. While […]

By Harold Geller |March 31, 2009

5 min read

Planning and Advice

Legally speaking: Avoiding liability in uncertain times (Part 1)

Part 1: Second opinion seekers. This three-part series, advice that reflects lessons learned during past economic downturns, is written to help advisors avoid risk during these turbulent times. Jim Bullock of the Peel Institute for Applied Finance is a well-known industry expert. He says complaints and lawsuits are inevitable because every human needs three things: […]

By Harold Geller |March 24, 2009

6 min read

Estate Planning

Legally speaking: Botched beneficiary designations

Frequently when I review an insurance agent’s or investment advisor’s files I am surprised to see that a simple estate planning step has gone awry. In an RRSP or RIF there should always be a beneficiary designation. In life insurance especially, failing to have a designated beneficiary simply makes no sense. Given the role both […]

By Harold Geller |October 23, 2008

4 min read