January Sales Meeting
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Transcript of January Sales Meeting
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January Sales Meeting
How the Best Get Better
in 2006
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Compliance Updates/Reminders
Sharing Information
from recent DS Meeting
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New Forms
• Investor Agreement & Disclosure Handbook coming soon -- 1st Quarter 2006– Where possible, moving most disclosures to this
Handbook – Current version already contains all the disclosures
from pages 2 & 3 of the Investor Profile (which includes the arbitration clause, privacy and revenue sharing policies, etc.), but will eventually be expanded to encompass definitions of investment objectives, prospectus delivery, and additional items.
– Look for revisions to the Investor Profile as a result.
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Revised Forms
• RS14 Request for Reduced Sales Charge Form – Revised and redesigned – Look for release early in 1st Quarter 2006
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Breakpoints
• LIPI is running a breakpoint report on a bi-monthly basis looking back over the past two months
• LIPI is manually checking any purchases of $25,000 or more on an on-going basis
• LIPI is working with the funds to more readily accept and act on our Request for Reduced Sales Charge Form (RS-14)
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Variable Annuities
• VA Product Comparison Tool
Rep website under Products and Services/Annuities/Variable/Annuity Product Comparison
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Variable Annuities• Suitability – Age of Investor –UNDER
SCRUTINY– NAIC considers anyone age 65 or older to be
“senior”– NASD requested list from LIPI of all annuity
sales to clients age 70 and older– HIGHLY recommend noting reason
for recommendation on L29VA when
client over 65.
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Email Recordkeeping & Review
• SEC indicated “honor system” for e-mail review is not sufficient.
• They require more substantial/ comprehensive recordkeeping and surveillance capabilities for e-mail.
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Email Review & Recordkeeping
• Lincoln has partnered with Amicus to utilize their e-mail monitoring technology.
• Lincoln email addresses (@lincolninvestment.com) will automatically run through the Amicus system.
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Email Review & Recordkeeping
• Lincoln has partnered with Amicus to utilize their e-mail monitoring technology.
• Lincoln email addresses (@lincolninvestment.com) will automatically run through the Amicus system.
• Those who do not use Lincoln’s address may need to convert.
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Email Review & Recordkeeping
• More info provided in the “Email Retention and Supervision” communication under Technology on the Rep website.
• We are currently researching options for the “best” solution.
• Suggestions welcome…Please talk to Beth.
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Annual Compliance Questionnaire
• Will now be an annual requirement for all selling Reps
• DS review and approval is required by 1/31/06
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Operations Update
Reminders
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MCPS Reminders
• Employees can contribute a % of salary
• MEAs must accompany SRAs over 15k
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MCPS Reminders
• Avoid delays and errors by:– Giving EE number– Circling stops for other carriers– If two SRAs (403b and 457) include a
notation to see 457 SRA, etc.– Ask employees to watch their pay for
changes– Promptly alert HFG staff to issues
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MEA Reminders
• New levels are:
– 15k base limit
– 20k for 50 or older
– Catch-up of 3k (18k under 50; 23k over 50)
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MEA Calculations
• 15 years of service catch up used before age catch up in running MEA
• Must include contributions to other carriers (MCPS)
• All LIP past contribution information is available on LIONS/AS400
• New MEAs require DOH, DOB, and Salary
• Ask for help and avoid future issues.
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Marketing Update
New Marketing Materials on the Lincoln FR Website
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New Marketing Materials
• Financial Perspective Newsletter a customizable quarterly newsletter for you to
mail — or email — to clients to help you build and retain business.
On the FR website -
Sales/Sales Material/Client Newsletter
See Beth if you are interested in ordering.
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New Marketing Materials
• 2006 Advisory Servicing PackageIncludes:
– Talking Points on “Why Advisory?”– Marketing Letters– Marketing Snapshot– Advisory Commentary– Advisory Overview
Available on the FR website under Products & Services/Servicing Packages.
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Tom Forst & Michael Brickman