ESI has Created a Single ESI Tech service email address for all your Technology Questions: ESITech@nationallife.com

As our ESI technology line-up has grown, each of the ESI Technology Strategy and Execution team members are becoming more specialized in the areas we support. With many new technology options, it’s not easy to remember where to go for your technology questions.

To make it as easy as possible for you, the ESI Technology Team has created a new dedicated email address for all your technical support requests with benefits that include:

1. Simplified Communication: Having one, dedicated email address for technical support will make it easier for you to directly reach out to our team.

2. Specialized Assistance: The new email address will ensure your inquiries are efficiently routed to the appropriate team member.

Going forward, please reach out to us at ESITech@nationallife.com regarding any technical issues, questions, or concerns you may have.

TC137336(1023)1

Read More  

National Life’s newest SPDA, Zenith Growth 5, launched on Oct. 28^th.

Here are five key features to share with your clients:

• 5-year surrender period: Great for clients who only have a short time left to save for retirement.
• Minimum premium: $25,000. Multiple premiums can be paid in the first 90 days after issue.
• Dollar Cost Averaging Account: Spreads index crediting over 12 months.
• 1-year or 2-year Point-to-Point index crediting strategies: Multiple options for growing the value of your annuity.
• Rate Booster, available for all index crediting strategies: Provides higher participation rates and caps for an annual fee (optional).

To learn more, click here.

TC137336(1023)1

Read More  

The legacy proposal system in ESI Illuminations is currently scheduled to be decommissioned at year-end. Join Envestnet for this 1-hour webinar and learn how to utilize the Next Generation proposals! The webinar agenda includes a guided walk-through of the new system, differentiators from the legacy system, and time for questions with subject matter experts. Click here to register for the November 10th webinar.
 
If you are still using the legacy system, or simply need a refresher on Next Gen Proposals, please be sure to join the discussion.

TC137336(1023)1

Read More  

Customer information and records are to be kept strictly confidential. Under no circumstances should customer information be provided to or shared with any person or entity that is not authorized to have access to or use of such information.

The ESI Confidentiality Agreement is available in Merrill for use whenever a third-party or other outside vendor may have access to ESI’s confidential client information or records. Third parties with access may include, but are not limited to: shredding services, document storage facilities, office cleaning services, or IT service providers.

Vendor Due Diligence
Prior to engaging the services of a third party, each branch should conduct due diligence to help ensure vendor suitability.

Best practices include:

• Consider the third party’s depth of resources and previous experience providing the specific product or services;
• Conduct research on potential vendors to gather key information such as customer complaints, data breaches, and other areas of concern;
• Evaluate the vendor’s cybersecurity safeguards, if applicable;
• Ensure the vendor is willing to sign the confidentiality agreement prior to engagement.

Vendor Oversight
On an ongoing basis, each vendor should be reviewed to ensure that they remain suited to provide the agreed-upon product or services to the branch.

Periodically, the following should be reviewed, as applicable:

• Whether the branch still requires the vendor’s services;
• The vendor’s technology and process for maintaining information security, including the privacy and security of customer data or other financial information;
• Ongoing due diligence of the vendor;
• The vendor’s compliance with the confidentiality agreement;
• The vendor’s contact information.

Vendor Change
Whenever your office is hiring or changing a service provider, ensure you complete a new ESI Confidentiality Agreement with the new vendor.

Maintaining Copies

• If you are located in the Field OSJ, keep a copy of the ESI Confidentiality Agreement with the Field OSJ records.
• If you are located in a detached branch office, maintain a copy in your branch office and provide a copy to your Field OSJ for their records.
• Email a copy of the fully-executed ESI Confidentiality Agreement to ESICompliance@nationallife.com, to be added to Firm records.

Questions
If you have any questions regarding the confidentiality agreements, please feel free to contact ESI Compliance at 800-344-7437.

TC137336(1023)1

Read More  

Important Dates – 2023 Premiere Select Retirement Account Annual Maintenance Fee Cycle

November 1^st – 18^h, 2023 – Collection Period – Accounts that have instructions on file to pay the annual maintenance fee via journal, EFT or IBP may have the fee deducted.

November 15, 2023 – Maintenance Fee Waiver Request Deadline – Representatives must submit the Maintenance Fee Waiver Request Form by November 15^th to absorb fees for their clients.

November 20, 2023 – Collection Day – Unpaid fees are posted to customer accounts. Accounts with insufficient cash will result in a cash debit balance.

January 5^th, 2023, through January 27^th, 2023 – Liquidation/Write Offs – Accounts with eligible securities will be liquidated to cover uncollected fees or written off and charged to the advisor on record (if less than $25).

---

Important Dates – Compliance Deadlines

November 15, 2023 – 2024 renewal packets must be received at ESI Licensing

November 30, 2023 – Deadline for completing FINRA Regulatory Element CE

December 31, 2023 – Deadline for Annual Compliance Meeting completion

February 28, 2024 – Deadline for Firm Element CE completion

TC137336(1023)1

Read More  

We are pleased to announce the next generation of MoneyGuidePro is coming to Equity Services, Inc on Monday November 13^th. In this latest version you’ll many new features to help make planning easier such as

• Advanced Earmarking with Monte Carlo
• Employer Awards (replacing Stock Options and Restricted Stock)
• New Account Type: Health Savings Accounts 
• Better Handling of Annuities with Lifetime Income
• Enhancements to the Cash Bucketing Strategy
• Improvements to the Disability Insurance Needs Analysis

If you want to learn more about the enhancements you can review the release notes or join a webinar hosted by MoneyGuidePro on Tuesday November 14^th at 2pm ET. Can’t make it? The webinar will be recorded and available to everyone who registered.

It’s important to note that some of the changes that MoneyGuidePro is making may change the probability of success for your plan either negatively or positively. While not every plan will be impacted, and we expect any plans that are to only have minor adjustments, we highly recommend that if you have any plan presentations on or after November 13^th that you give yourself extra time to review the plan and make any updates as necessary.

Still have questions? You can reach out to MGP directly at 1-800-743-7092 or you can email us at ESItech@nationallife.com.

TC137126(1023)1

Read More  

Effective January 1, 2023, FINRA published its revised Rule 1240 – Continuing Education (“Rule”).  The Rule implemented some significant changes to FINRA’s continuing education (“CE”) requirements.  This notice describes how these changes impact you and what steps you’ll need to take to maintain compliance with the new Rule.

In summary, all registered representative and registered principals must complete the FINRA Regulatory Element CE on an ANNUAL basis.  The deadline to complete the CE Course is 11/30/23.

REGULATORY ELEMENT CE

Effective January 1, 2023, all registered persons are required to complete FINRA’s Regulatory Element CE by December 31^st each year.  This represents a change to FINRA’s previous approach to CE as it replaces the previous 3-year anniversary requirement with an annual one.  Note that, to ensure compliance with the rule, member firms may set different deadlines based on their business requirements.  Accordingly, ESI will require that RRs complete their Regulatory CE by November 30^th, each year.

Under the new program, participants must login to FINRA’s FinPro[1] portal where they will receive content that is specifically tailored to each representative or principal registration category they hold.

Newly-registered representatives will be subject to the annual CE requirement starting with the next calendar year after the year in which they pass their initial registration exam.  For example:

• An individual passes their initial registration exam in July 2023.
• They must complete their first Regulatory CE in 2024 (with a November 30, 2024 deadline).

ESI will place individuals who fail to complete their Regulatory Element by the November 30^th deadline on “CE Inactive” status with the Firm.  “CE Inactive” means you will not be able to submit new business and commissions will be suspended until you fulfill your CE requirement.  If you remain CE Inactive for 30 calendar days, your ESI registration may be terminated.

FIRM ELEMENT CE

Also effective with the Rule, all registered persons are subject to the annual Firm Element CE requirement.  This is a change in that, under the previous Rule, Firm Element CE was largely limited to affiliated persons who were client-facing and their supervisors.  The new Rule expands the requirement to all registered persons, irrespective of their role.  This change will generally impact home office employees who may have previously been exempted from the requirement based on their role and responsibilities. Effective with the 2023-2024 training cycle, the population of individuals subject to Firm Element CE will be expanded to comply with the new Rule.

ESI’s 2023-2024 Firm Element CE program will be made available in September 2023. The Firm will announce the program with a separate field notice.

RESOURCES

You can track your personal CE status from your FinPro account.  If you haven’t already registered with FinPro, you can do so at https://finpro.finra.org/registerUser/.  Existing FinPro users can log in at https://finpro.finra.org.

---

[1] Users must have an active FinPro account.  Click hereto login or create your account.

TC137126(1023)1

Read More  

If you’re ever in a pinch and need insurance license information, most states have a link online that allows you to search for your information for free!

Simply open your favorite search engine (Google, Bing, etc.), and search by entering the state you need, followed with “Insurance License lookup” (Ex: Vermont Insurance License lookup). One of the top results should be a link to the Department of Insurance/Department of Financial Regulation site for the requested state (they may have variations in their title). Select the link, then look for the option to do an Agent Search/Licensee Search.

Some states will have their own look up tool, and some will bring you to the NAIC site where you can search for multiple states. The NAIC site is https://sbs.naic.org/solar-external-lookup/.

Always ensure the information you need is showing, such as an “Active” status, and Lines of Authority (life, health, variable annuities). If you are not able to find the information you need, please contact your agency or the state directly for assistance.

As always, your securities registrations can be accessed at any time by logging into your FinPro portal and selecting “Registrations” from the left menu bar, or, by looking yourself up on FINRA Broker Check.

All of the above-mentioned search functions are FREE!

TC137126(1023)1

Read More  

Click Here to Read the Full AssetMark Article
AssetMark Article Introduction:

“In the ever-evolving landscape of financial advisory services, the shift from a commission-based model to a fee-based structure has become increasingly prevalent. This transformation is driven by the desire for greater transparency, enhanced client-advisor alignment, and a focus on providing comprehensive financial solutions, while also maintaining a profitable service model that truly provides value for clients.

As you navigate this transition, one of the steps will be deciding which accounts to switch to fee-based and which are best to remain commission-based. Selecting the appropriate clients for each goes beyond mere profitability considerations and extends to factors such as client preferences, investment goals, and the nature of the advisor-client relationship. Identifying clients who are compatible with the fee-based structure and who stand to benefit the most from comprehensive advisory services can go a long way toward a successful transition and long-term client satisfaction.

In this article, we will delve into the task of identifying clients for a transition from a commission-based to a fee-based model. We will explore the factors that financial advisors need to consider, the client segments that are most suitable for the fee-based approach, and how to effectively communicate the transition to clients.

It’s important to identify those clients who will benefit from your new business model. Segmenting your clients according to specific criteria is the most efficient way to determine your next steps. The process of doing so can be streamlined with the proper plan.”

Click Here to Read the Full AssetMark Article

TC136980(1023)1

Read More  

Update from Fidelity Institutional^®
Changes Effective: October 26^th, 2023

“In an ongoing effort to enhance platform security, Wealthscape InvestorSM is getting a new design to enhance the clearing client’s experience during their login process. As a result, there are some visual changes to the login, the second factor

authentication, Password Expired/Expiring Soon, Create a password and URLs used to access Wealthscape Investor. Other improvements include enhancements within performance, resiliency, and security of the application. Several messages have

been updated to contain better language for user understanding and navigation as well.

This update has had many successful rollouts to clients. If you have not received this update within your Wealthscape Investor browser, you can anticipate the change on October 26th, 2023.”

Click here the view the notice including screenshots of the changes.  

TC136980(1023)1

Read More