Month: April 2021

Coming Soon! Wealthscape Investor Forgot Username Functionality

April 28, 2021

In an ongoing effort to enhance the platform capabilities, Wealthscape Investor users will be able to securely retrieve their Investor ID or Username at login. On the login screen, they can click on the Forgot Username link to access this function. User will be asked to provide their first name, last name, date of birth, and last 4 digits of their SSN. If the user has a multi-firm relationship, they will be asked to provide an account number. User will be asked to choose phone and a method to receive the One-Time Pin (OTP) which they will enter on the screen to complete the extra security step. On successful completion of the extra security step they will be given their Investor ID or Username (if present). If the user has forgotten their password, they can reset it by following the Reset It Now link. User can use the Username or the Investor ID (if no Username exists) to login to Wealthscape Investor.

CLICK HERE TO VIEW IMPORTANT NOTICE 21W-119

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ESI’s 2021 Feedback Journey

April 28, 2021

In 2021 ESI’s goals are focused on the growth of our business as well as increasing the number of representatives partnered with us.  To achieve these goals, we need confidence that we are providing the best in products and service to all of our field partners.   It is our belief that this confidence can only come from getting feedback from our partners we serve, you.    Feedback is key for us to learn where our strengths are, where there is room for improvement, and how best to move forward with achieving our goals in 2021.

Formalizing the Feedback Process

Today, the feedback ESI is getting is informal and generally the result of a telephone conversation or e-mail exchange.  While these informal means of getting feedback are helpful, we need to proactively solicit and make sure ESI gives everyone the opportunity to be heard.  To do this, ESI is going to formally incorporate surveys into our service model.  Feedback via survey is one of the best ways for us to work with our field partners to improve, grow and reach our goals.

Annual Sentiment Survey

Last week we sent out a Sentiment Survey to representatives in the field, to get a baseline on how we are doing at a very high level. 

We want to assess your experience in working with ESI holistically.   Are we meeting your needs? Are we helping you grow your business?  And most importantly are we helping you, help your clients achieve their financial goals? 

Future Use of Surveys

To capture more detailed feedback regarding a specific interaction with ESI, we will be incorporating a satisfaction survey into our workflow.   This will automate the opportunity to give feedback immediately following an interaction.  Look for more information on this initiative as we further expand the use of Surveys in the future.  

Thank You

We would like to thank you for taking a few minutes to complete the Annual Sentiment Survey, as well as any additional Surveys you may be sent throughout the year.  We truly believe feedback will play an important role in helping all of us to reach our goals and be successful.

CLICK HERE TO COMPLETE ANNUAL SENTIMENT SURVEY

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An Important Message from Transamerica

April 28, 2021

Retirement Income Choice® 1.6 and Retirement Income Max®

At Transamerica, we are committed to helping our customers save and retire with the income solutions they need today and in the future. Although economic conditions are not predictable, our customers rely on us to give them guaranteed, predictable income in all markets. We take pride in delivering on their expectations.

We believe at Transamerica that in the variable annuity living benefit business it is important to work with a company that has a life expectancy longer than the benefits they provide. Simply put, you have put your trust in a company that needs to be sustainable – regardless of economic conditions or outside influences which cause changes in the costs to provide those benefits. Market volatility, low interest rates, and influences on our industry, such as government regulations, have dramatically increased our cost to provide these valuable benefits.

The living benefits that your advisors and their clients have chosen and have come to rely on are not changing. However, the fees associated with those benefits of in-force contracts may experience a change to their current fee upon “automatic step-up” of the Retirement Income Choice® 1.6 or Retirement Income Max®.

Effective June 4, 2021, Transamerica will adjust our in-force Retirement Income Choice® 1.6 and Retirement Income Max® products to the current level pricing. The accompanying tables outline the original and new fees. Based on the version of the rider, time of purchase and current fund investment, some clients will see an increase, a reduction, or no change to their fee.

It’s important to note that these versions of the riders sold in New York are not impacted. Additionally, some clients will not see these fee changes right away. Retirement Income Choice® 1.6 fees are not eligible to change until the 5th rider anniversary and Retirement Income Max® fees are not eligible to change until the 1st rider anniversary.

CLICK HERE FOR FULL NOTICE AND FURTHER DETAIL

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You Can Now Use eSignature via DocuSign on Brinker Business!

April 28, 2021

We heard your feedback and have been working with our partners at Brinker Capital to improve the new account process to include eSignature acceptance.

This process will look a bit different than other vendors you may work with. To complete eSignature with Brinker you will have to follow the process outlined below:

  • Create a Proposal through the Brinker website
  • Create an ESI paperwork bundle via Starting Point like any other piece of business
  • When using eSignature, a new Solicitor eSignature Acknowledgement Form is required and will be included in the Starting Point bundle
  • Upload the Brinker proposal into the Docupace work item
  • Send the forms for eSignature to your client via the normal DocuSign process
  • Upon approval from ESI Home Office you can create the custodial account paperwork on the Brinker website and send it to your client for eSignature through Brinker’s process

NOTE: ESI does not require copies of the Custodial paperwork to be submitted in the work item and they should not be signed by the client until after ESI Home Office approval of the proposal.

While this new process does require two signing ceremonies by the client, we are excited to take this once manual process and create a time saving electronic experience.

For additional information on Starting Point or the eSignature process through DocuSign, please reach out to DocupaceSupport@nationallife.com  or 800-344-7437. For questions on the Brinker Proposal or eSign process, please contact Brinker Capital at 800-333-4573.

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ESI Illuminations 2.0: Strategist UMA and Overlay Services Now Live!

April 20, 2021

Strategist UMA
With Illuminations 2.0, Strategist UMA takes Strategist portfolios one step further as Strategists use separate accounts within their portfolios. The result is a portfolio invested among an appropriate combination of mutual funds, ETFs and individual securities (selected by Separate Account Managers), providing broad diversification that aligns with the investor’s objectives and risk tolerance.

Illuminations 2.0 Strategist UMA Additions: Prospect Profile and Details
The new Strategist UMA portfolios are designed for the high net worth investor with minimums that start at $500K and $750K.

There will be 40 portfolios available managed by two managers: Legg Mason and Envestnet PMC. The portfolios include a variety of strategies, such as Cost Sensitive, Impact/ESG, and ActivePassive.

Overlay Services
An exciting new feature available for Strategist UMA accounts is the addition of tax and impact overlay services.  An overlay service applies filters or additional management to the account.  

  • Tax Overlay – An optional service for clients wishing to mitigate the impact taxes have on their portfolio, tax overlay services are designed to help reduce tax exposure with the goal of improving after-tax returns.  This is achieved through loss harvesting, gain/loss matching, and deferring short-term gains that can’t be offset.
  • Impact Overlay – Impact overlay is an optional service that allows you to apply multiple screens (20 available) to a portfolio with the goal of creating a portfolio that is aligned with a clients’ personal values.

Learn More
View a recorded Training Overview. 
View An Overview of Strategist UMA.

Learn more about Legg Mason portfolios:
Log in to Illuminations and view the Legg Mason – Franklin Templeton Private Wealth Division Capabilities Overview and the Franklin Templeton – What Our Managers Think flyer.

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Alternative Mutual Fund List – Quarterly Update

April 20, 2021

The alternative mutual funds lists – Approved, Watch and Restricted – have been updated. 

Approved and Prohibited Alternative Mutual Funds

The purchase of Alternative Mutual Funds that include inverse and leveraged strategies is not permitted. To assist with what funds may be purchased, there is an Alternative Mutual Fund Available List and a Watch List which is updated quarterly and may be found on the Agent Portal à Training/Product à ESI à Mutual Fund Agreements. 

  • The Alternative Mutual Fund Available List is a list of approved alternative mutual funds that may be purchased (once training has been completed).
  • The Watch List is the list of alternative mutual funds that the Firm is watching to determine if they may become prohibited in the future due to failing consecutive screens, (two consecutive quarters). If you recommend purchases on the list, please be aware that they may no longer be approved to purchase in the future.
  • The Mutual Fund Restricted List is the list of prohibited alternative mutual funds.

If you are interested in offering alternative mutual funds to your client, additional training is required.

Training

Prior to purchasing approved alternative mutual funds, you must first complete required training in FIRE Solutions. The training may be accessed through FIRE Solutions: https://blaze.firesolutions.com/portal/login.

The cost is $12.50.  Once you have completed the course, please email your completion certificate to ESITrading@NationalLife.com and this training will be added to your profile.

Questions

If you have any questions, please contact ESI at 800-344-7437.

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ESI Advisory Operations Team Expands

April 20, 2021

Korbin Wayton has recently joined the ESI Operations team in the role of Securities Operations Representative. Korbin has been with National Life Group since 2019, previously working on the Life & Annuity sales desk before transferring to the ESI Advisory Operations team in March. He is currently studying for his licensing exams, but will soon join Kristen Stearns and Nicole Brier on the Illuminations Service team.

Korbin graduated from Norwich University, Cum Laude, with a degree in Business Management and a focus on Financial Economics. He will graduate in June with an MBA in Finance. He enjoys playing rugby and hiking the mountains here in Vermont. Korbin is looking forward to getting to know our representatives in the field and to helping them help their clients reach their financial goals.

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ESI’s 2021 Feedback Journey

April 13, 2021

In 2021 ESI’s goals are focused on the growth of our business as well as increasing the number of representatives partnered with us.  To achieve these goals, we need confidence that we are providing the best in products and service to all of our field partners.   It is our belief that this confidence can only come from getting feedback from our partners we serve, you.  Feedback is key for us to learn where our strengths are, where there is room for improvement, and how best to move forward with achieving our goals in 2021.

Formalizing the feedback process

Today, the feedback ESI is getting is informal and generally the result of a telephone conversation or e-mail exchange.  While these informal means of getting feedback are helpful, we need to proactively solicit and make sure ESI gives everyone the opportunity to be heard.  To do this, ESI is going to formally incorporate surveys into our service model.  Feedback via survey is one of the best ways for us to work with our field partners to improve, grow and reach our goals.

Annual Sentiment Survey

Shortly, we will be sending out what we are calling a Sentiment Survey to representatives in the field, to get a baseline on how we are doing at a very high level. 

We want to assess your experience in working with ESI holistically.   Are we meeting your needs? Are we helping you grow your business?  And most importantly are we helping you, help your clients achieve their financial goals? 

Future use of Surveys

To capture more detailed feedback regarding a specific interaction with ESI, we will be incorporating a satisfaction survey into our workflow.   This will automate the opportunity to give feedback immediately following an interaction.  Look for more information on this initiative as we further expand the use of Surveys in the future.   

Thank You

We would like to thank you in advance for taking a few minutes to complete the Annual Sentiment Survey, as well as any additional Surveys you may be sent throughout the year.  We truly believe feedback will play an important role in helping all of us to reach our goals and be successful.

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