Fiduciary Responsibility

Fiduciary Responsibility

The Advisor’s Role

The market emerged as financial advisors and their clients began demanding more options for life insurance policy owners looking to surrender or cancel their policies. A life settlement is a creative solution used by financial consultants to help clients dealing with changing estate tax issues, medical bills, unaffordable premiums and other scenarios. By employing the services of a life settlement broker/viatical settlement broker such as IMS Associates, you assure your client of settlement bids that reflect a policy’s real market value. IMS Associates is a the  most reputable of the  life settlement brokers and we bring years of experience and industry knowledge to each step of this important process.

What it means to You?

Because a Life Settlement offers clients a new financial planning tool, Agents, Attorneys and CPAs involved in Life Insurance, Estate, Tax and/or Trust practices should incorporate Life Settlements into their planning strategies to best meet their clients’ changing needs. Mastering Life Settlements will allow you to attract new high net worth clients while ensuring your client base does not migrate to firms utilizing Life Settlements. Life Settlements will allow you to continue to be on the cutting edge.

Fiduciary Responsibility

When you have a fiduciary relationship with a client, it is always best to inform that client of all available financial options. Even if you do not have a fiduciary obligation to your client, staying informed and giving the best and most complete advice is advantageous both to you as an advisor and to your clientele. To ensure you are acting in your client’s best interests, you may wish to take the following steps on his or her behalf:

  • Evaluate your client’s overall financial situation to determine if a life settlement is an appropriate option
  • Analyze your client’s probabilities in the life settlement market – Contact Us For Help
  • Research the secondary market to select a highly regarded life settlement company who can deliver institutional funding from a licensed life settlement provider and a high level of service and expertise.
  • Secure the highest market valuation possible for your client’s policy. The most practical way to achieve this goal is to obtain multiple offers from a life settlement broker.

Due Diligence

Agents, Attorneys and CPAs are always encouraged to perform due diligence as it relates to recommending a Life Settlement to their clients as a financial planning tool, but they should also perform due diligence on the brokers and insitutional investors structuring the Life Settlement transaction. Additionally Agent Advisors should check on the current regualations in the appropriate state. Efforts to increasingly regulate Life Settlements are gaining momentum throughout the nation, some states are only minimally involved and some prefer that the industry continue to police itself. Please contact use directly for any question regarding regulations and compliance.