I've been studying up on all these "source of funds" issues, complaints, etc. And while I am NOT an attorney... I am finding that there is a common thread in all these complaints:
Either:
- The person is unlicensed to act as an investment advisor, yet is giving investment advice and analysis.
or
- The person IS licensed to act as an investment advisor, yet is only selling fixed indexed annuities.
There are a lot of articles (biased by those who are with RIA firms) who say "get your Series 65 and protect yourself from future regulation" - citing 151a as a reason to get the license.
Either:
- The person is unlicensed to act as an investment advisor, yet is giving investment advice and analysis.
or
- The person IS licensed to act as an investment advisor, yet is only selling fixed indexed annuities.
There are a lot of articles (biased by those who are with RIA firms) who say "get your Series 65 and protect yourself from future regulation" - citing 151a as a reason to get the license.
Source of insurance-forums.net
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