Insurance Compliance

At My RIA Lawyer, we understand that remaining current on all relevant industry laws and regulations can feel like a full-time job. But our insurance compliance specialists are ready to step up to handle any challenge your agency is facing. Insurance agents, brokers or producers must abide by laws impacting the course of their work that vary from state to state.  They are governed by common law, federal law, state law and contract law.  As required by common law, insurance agents are to act in good faith, exercise reasonable care and diligence, and carry out client instructions.  State laws are enforced by state insurance departments.  These enacted state legislatures dictate the licensing requirements that must be met by insurance agents.

Many RIAs offer insurance solutions to their clients. Historically, insurance has been a commission-driven business that does not fit the compensation model or fiduciary ethos of the fee-only RIA. But as clients demand more services from their advisors, asset management is no longer enough.

We provide insurance compliance consulting for those RIAs who offer not only financial planning and wealth management services, but also insurance as an important component of their service offerings.  We will make sure that your fiduciary duty of care is upheld and that you observe insurance regulations as you provide annuity solutions, life, long-term care, and disability coverage and insurance suitability for your clients.

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