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The Wealth Manager's Playbook
Even though I consider myself a life insurance purist, I must admit I am an avid reader of the investment advisory press. Over the years, I have been overwhelmed by the stories of immense change in that industry. More recently, the wealth management sector has experienced some seismic events:
- Not one, but two major financial crises.
- New regulation.
- Technology companies entering their business in the form of “robo” advisers.
- Aging adviser force and business succession issues.
- A major shift from commission compensation to a fee-only world.
The pace and scope of change wealth managers are experiencing is unprecedented and is showing no signs of slowing down. In fact, change is accelerating rapidly.
It seems that the life insurance business is now poised for a similar period of disruption, growth and evolution. The question is not if change will take place, but when and how. We are seeing the early signs of this revolution across many facets of that business:
- Electronic applications;
- Exam free underwriting;
- Engagement with clients via social media;
- Programs of healthy engagement tied to insurance policies;
- An aging producer force; and
- The impact of lower interest rates on insurance companies.
As a producer, I can feel the impact of these changes, and many more like it, similar to a snowball rolling down a hill, picking up size, speed and momentum. We are just getting started.
The DOJ's New Parameters for Evaluating Corporate Compliance Programs
The parameters set forth in the DOJ's memorandum have implications not only for the government's evaluation of compliance programs in the context of criminal charging decisions, but also for how defense counsel structure their conference-room advocacy seeking declinations or lesser sanctions in both criminal and civil investigations.
The DOJ's Corporate Enforcement Policy: One Year Later
The DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.
Use of Deferred Prosecution Agreements In White Collar Investigations
This article discusses the practical and policy reasons for the use of DPAs and NPAs in white-collar criminal investigations, and considers the NDAA's new reporting provision and its relationship with other efforts to enhance transparency in DOJ decision-making.
Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
A Lawyer's System for Active Reading
Active reading comprises many daily tasks lawyers engage in, including highlighting, annotating, note taking, comparing and searching texts. It demands more than flipping or turning pages.