FINANCIAL PROFESSIONAL SITE
  

The renewal terms of our E&O insurance coverage are being finalized and will become effective on August 1, 2016 for our 2016-2017 policy. The current policy is being aggressively marketed. We are estimating a flat renewal which will equate to approximately last year’s annual rate of $2,700.

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 fees $200-300 year over year for their advisors.

As it has been our process in collecting premiums, half of the 2016-2017 E&O premium will be paid in July with the remainder paid by August. Your E&O premium may be paid either through commissions or managed fee deductions or by submitting a check payable to Investment Planners, Inc. and sent to Lori Kidd's attention.

Please contact Lori Kidd to advise of your choice of payment method (pay through either commissions, fees or check) on or before the close of business on Monday, July 18 or an automatic deduction of $1,400 will be initiated. The remaining fee balance will be due by August 8, 2016. 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.

As soon as the negotiations are finalized, you will be provided a follow up email to advise of the final premium renewal amount and the E&O carrier for this year. If you have any questions, please send me an email at reneee@investment-planners.com or call me at 217-542-1220.