E&O Renewal Info 2017-2018
We hope everyone had a happy and safe 4th of July. Please find below information on our E&O renewal for the upcoming year. If you have any questions, please let me know. Thanks, Renee
The renewal terms of our E&O insurance coverage are finalized and will become effective on August 1, 2017 for our 2017-2018 policy. We were able to negotiate a flat renewal of $2,700 for this coming year.
As part of our annual review of E&O, we performed our own analysis on fees assessed by other independent firms. For your review, here is a breakdown of some of our competitor’s E&O rates. Please note that nearly all of these firms have increased their fees $200-300 year over year for their advisors.
| Company | E&O Fees |
| Berthel Fischer | $3,348 |
| Kalos Capital | $3,625 |
| LPL | $3,650 |
| Securities Service Network | $4,200 |
| Raymond James | $4,200 |
Your E&O premium may be paid either through commissions or managed fee deductions or by submitting a check payable to Investment Planners, Inc.
Invoices will be sent out on Friday, July 7, 2017.
Please contact Lori Kidd to advise of your choice of payment method on or before the close of business on Friday, July 14, 2017 or an automatic deduction of $2,700 will be initiated on Friday, July 21, 2017. If you choose to pay by check, please note that payment is due immediately or your commissions will be held to cover the outstanding fee. If you have questions, please call Lori at 217-542-1223 or send her an email at lorik@investment-planners.com.
We will send out E&O certificates as soon as they are received from our carrier. If you have any questions, please send me an email at reneee@investment-planners.com or call me at 217-542-1220.