FINANCIAL PROFESSIONAL SITE
  

We had quite the turn out yesterday for the DOL Fireside Chat and appreciate the questions and attendance. We hope it was informative. We expect to host additional webcasts regarding DOL in the coming weeks. I also want to make sure you know where to find the letters, worksheets and annual client review form that I discussed on the webcast. Please go to our Advisor Site and click on Compliance (or click here).

The Word documents are Compliance approved letters that you may use with your clients. The letters are RBC verbiage in which I made a few changes. The letters provide some general background of the DOL rule, what it means for clients and provides an opportunity for you to set appointments with the client to discuss their account(s). The letters are the same, except one is on IPI letterhead and the other is IPI Wealth as some of our advisors market themselves under one or the other company. It is ok to add the date of your letter, client's name and address and your name, title and office information to the letter. Additionally, I am ok if you want to save postage and email the body of the letter to clients. Any other changes made to the letter must be Compliance reviewed and approved before sending out to clients, so if you make changes, then please send it over to Julie or I for review first.

Most of our advisors have already started reviewing their brokerage book for accounts in which it may be in the client's best interest to move from brokerage to an advisory account. The Worksheet is a tool I put together to potentially assist you in talking points with clients in reviewing whether a brokerage account should be moved to an advisory account. Some of the questions may not be applicable to you or your client, so use it as a guideline and not a rule to assist with your conversations. Please remember that it is not necessary to provide the document to Operations or Compliance. This would be a document to keep in your file as a client meeting note, if you so choose to use it as it is optional. Furthermore, your client's answers to these questions, especially #9, potentially could lead to separate one off type services in which you may be able under IPI Wealth to charge an hourly or fixed rate or it could fall under the Price to Value and Wealth Management Services that Corey and Dave have previously presented. Such services may include: Financial Planning, Insurance Needs Analysis, Next Generation Planning, Social Security Planning, etc. Please consult Corey if you have questions on Price to Value.

The Annual Client Review form is a work in progress and currently is optional for your usage with advisory clients. We expect to fully roll this out 1st quarter 2017. The purpose of the form is to be able to easily document annual meetings based on a client's householded accounts. It also includes the client's Gross Household Assets which will assist you in conversations with your clients relative to the Price to Value and Wealth Management Services that may be offered. The form will also allow you to document your client meeting and any up-coming changes that are needed for the client. If you have questions or ideas on the form's format, please let me know.

Again, we hope this information is informative. Any questions, suggestions or comments, let Corey or I know. Have a good weekend! Thanks, Renee