John Keenan Joins ESI!

January 26, 2022

John Keenan, CLU, ChFC, CFP® Joins Equity Services

ESI is pleased to welcome John Keenan to the team!

With almost 30 years of experience in financial services, John joins us to help further refine and improve our distribution and business development strategies.

John brings significant and relevant experience to ESI’s growth initiative. In his 20 years at Prudential Financial, his responsibilities included National Sales Management, Managing Director of Prudential Client Management and Vice President, Strategic Relationship Management. Prior to that John was SVP of Sales and Marketing at Hartford Life and the National Sales Manager at Nationwide.

As a former professional soccer player and youth coach, leading and building teams started early in his life and that team dynamic is evident in his approach to tackling new opportunities – “Work hard, have fun, achieve great things!”

When asked why he joined ESI and National Life Group, he shared that he sees this position as “…a great opportunity to help ESI to further growth. I’m a longtime admirer of the leadership and culture at NLG and am excited to experience it!”

Welcome John!

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How Is Your Annual Client Contact Going?

January 26, 2022

Documenting your Annual Client Contacts process has been made easier within Docupace/Starting Point. You can now create your ‘Documentation of Annual Client Contact’ within Starting Point. A new tile selection is there to begin the process and the completed documentation will be archived to the client’s ‘General’ folder.

For step-by-step instructions on completing this new process, click here.

And, as always, if you have any questions please call 800-344-7437 or email DocupaceSupport@nationallife.com

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Envestnet: Flagship Q4 2021 Commentary

January 26, 2022

As Covid-19 and its Greek alphabet of mutations continue to haunt the global economy, equity markets overcame numerous headwinds in the fourth quarter of 2021. The threats posed by the viral variants, combined with supply chain disruptions, an impressive increase in prices, potentially punishing tax regimes, and a more hawkish Federal Reserve (Fed) rattled investors’ nerves in the last three months of the year, causing a spike in market volatility.

Click Here to Continue Reading Envestnet PMC’s Q4 2021 Commentary

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Are you doing qualified plans business?

January 26, 2022

Due to new interpretations of its regulations by the Department of Labor (“DOL”), additional disclosure is now required for many retirement accounts effective January 31, 2022. Under these new changes, qualified plans require further disclosure regarding potential conflicts of interest and issues related to fiduciary status. Our current Form CRS and the Reg BI Disclosure provide sufficient disclosure to meet the new requirements for qualified plans.

Effective January 31, 2022, Form CRS and the Reg BI Disclosure will be required forms for all qualified plan business including:

New and existing qualified plans that are changing vendors
Existing qualified plans that are changing broker/dealers

Form CRS and the Reg BI Disclosure are to be left with the client (plan trustee) and do not need to be submitted to ESI for review. These documents are automatically included in new business work items for new 401k accounts that are created using Docupace/Starting Point and will therefore automatically be given to the client and ESI.

When the client/trustee signs the Customer Agreement, they acknowledge that they have received Form CRS. The Acknowledgement of Form CRS Delivery DOES NOT need to be submitted. This Acknowledgement is only required when making a recommendation prior to providing account paperwork (which triggers the Form CRS delivery requirement to a prospective customer).

Questions? Give ESI Operations a ring at 800-344-7437!

Click Here to View Field Notice 2022-03: Additional Disclosures Required for Qualified Plans

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Check Out Money Guide Pro’s Virtual Meeting Guide!

January 26, 2022

Unprecedented economic and social changes have led to significant stress for both clients and advisors. MoneyGuide is prepared and taking the necessary steps to ensure continuity in the services and support advisors receive.

It’s important to remember that financial planning helps make market fluctuations less scary and helps clients focus on the long-term picture. Now, more than ever, is the time for them to stick to their financial plan.

All you need is a computer and an internet connection to use MoneyGuide to stay connected with your clients. In MoneyGuide’s new “Virtual Planning Guide,” they’ve shared tips for virtual meetings and powerful MoneyGuide features to help facilitate client conversations, keep them on track and feeling confident in their financial future.

CLICK HERE TO VIEW MONEYGUIDE VIRUTAL PLANNING GUIDE

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Equitable Structured Capital Strategies Income Variable Annuity Now Available

January 18, 2022

ESI is pleased to announce that Equitable’s Structured Capital Strategies Income, (SCS Income) variable annuity is now available. SCS Income is a registered indexed linked variable annuity that provides contract owners with retirement income and has various levels of volatility protection. There is an additional fee for the income benefit.

If you would like additional information on this variable annuity, please contact Equitable at 888-517-9900.

Click here for a brochure on the Equitable Structured Capital Strategies Income Variable Annuity.
Click here for the Equitable Wholesale Map.

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Alternative Mutual Fund Lists

January 18, 2022

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 Approved 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 Restricted List is the list of prohibited alternative mutual funds.

BROKERAGE: If an attempt to purchase is made in a brokerage account, the purchase will be blocked.

DIRECT: If purchased in a direct, mutual fund, you will be contacted by Compliance after to work with your client to have any new investments directed to a non-alternative mutual fund or to one of the approved alternative mutual funds.

REMOVED FROM APPROVED LIST: If a fund is removed from the Available list (brokerage or direct), Compliance will contact you to let you know that the fund is no longer available for purchase and to work with your client to have any new investments directed to a non-alternative mutual fund or to one of the approved alternative mutual funds.

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 or concerns regarding the alternative mutual fund lists, please contact ESI at 800-344-7437.

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Reminder: Form Requirement Reduction

January 18, 2022

In an effort to reduce the number and complexity of forms, ESI has revised the Entity Profile (EP) to include the relevant signing authority points from the Trustee Certification of Investment Powers for Direct Business (TCIP DB).

Consequently, the TCIP DB will no longer be used for trust or qualified plan business. Only the EP will be required to establish Authorized Persons/Trustees signing authority for the above request types.

As a reminder, ESI Direct Business does not require a Trust Document for Trust Clients or Qualified Plan Adoption Agreement for Qualified Plan Clients.

The TCIP DB will remain in use only for the Balanced Opportunities Program. Note that if the Entity Client is a Corporation, Partnership, Unincorporated Organization or Charitable Organization, ESI will require additional documents to prove signing authority (but will still not require the TCIP DB). The revised EP will go into effect on 01/14/2022, in both Merrill Forms and Docupace. Please contact ESI Suitability with any questions at 800-344-7437, option 1, option 5.

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One America Indexed Annuity Care- Now Available

January 18, 2022

ESI is pleased to announce that One America’s Indexed Annuity Care – fixed indexed annuity with long term care benefits is now available.

This single premium fixed indexed annuity includes long term care benefits for qualifying LTC expenses and can help your clients protect their assets from the financial risks associated with long term care. If you would like additional information on this fixed indexed annuity with LTC benefits, please contact Michael Bacchus or Shelly Porter at TruChoice Financial, 800-886-4757.

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Form ADV Part 2A and Part 2A-Appendix 1 Updates

January 18, 2022

Effective January 12, 2022, ESI Financial Advisors (“EFA” or “the Firm”) has amended its Forms ADV Part 2A (ES0408) and ADV Part 2A-Appendix 1 (ES0408A). The updated version of these forms are available on the ESI Illuminations website and through the NLG website, via MerrillConnect. Please destroy and discontinue use of any previous versions of these disclosure documents, and only use the current version.

DELIVERY REQUIREMENTS

The Form ADV 2A must be delivered to advisory clients at or before the time of entering into an investment advisory agreement. This includes clients with accounts in one or more of the following programs:

ESI Illuminations;
EFA Financial Planning/Consulting Agreements;
American Funds Retirement Plan Platform;
AssetMark (adviser model);
Morningstar;
Saratoga Advantage Trust; and
Schwab Retirement Advisor Services
SEI

The Form ADV 2A – Appendix 1 is specific to the ESI Directions program and must be delivered to advisory clients with accounts in the ESI Directions program at or before the time of entering into an investment advisory agreement.

QUESTIONS

If you have any questions regarding the Form ADV 2A or Form ADV 2A-Appendix 1, please contact ESI Compliance at 800-344-7437.

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