BISA Magazine - Quarter 1, 2017 - 28

FEATURE STORY

We think life insurance will play a larger part in the future in
bank investment programs, says Rummel, because of the
growing importance of financial planning in the post-DOL world.
"DOL" is arguably "the most transformational change many of us will see
in our careers," Rummel tells BISA
Magazine. Somewhere between 30 and
50 percent of a typical bank advisor's
business could be affected by the rule,
she estimates. (Note: This interview
took place prior to the change in
administrations. The Trump Administration recently indicated it would look to
scrap the DOL's fiduciary rule.)
The firm has been building new resources to help its banks and their advisors
deal with the challenge. DOL DynamIQs
™, a new suite of integrated tools and
resources, was designed to enable financial advisors to prepare for DOL, which
will be fully implemented in April 2017.
The suite includes, for example, an on-

28
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line assessment tool that allows advisors
to identify the assets and accounts in
their practices that may or may not be
impacted by the DOL's new rule.
The tool also has an online assessment
that gives advisors a "readiness score"
re: DOL. This amounts to a self-guided
education track, Rummel says. Advisors can take the assessment again and
again so they can chart their progress
or readiness.
The firm also implemented a dedicated
consulting service to help answer advisors' questions about the new rule and
how it impacts their practices.
CFI has also been conducting live meetings under the rubric of its ACE Pro-

gram (Advise, Consult, Engage), each
running one or two days, often at a client bank or credit union facility (in the
case of larger institutions), or at one of
Cetera's own regional facilities. These
meetings, which will run until the end
of the year, make use of role playing,
case studies, presentations, peer-to-peer
networking, and technology to instruct
advisors in what it means to take a holistic approach toward clients (one
of the goals of the government's new
rule, presumably).
CFI has been conducting life insurance
boot camps for its client banks and
credit unions recently, too. "We think
life insurance will play a larger part in
the future [in bank and credit union
investment programs]," says Rummel,


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Table of Contents for the Digital Edition of BISA Magazine - Quarter 1, 2017

Table of Contents
BISA Magazine - Quarter 1, 2017 - Cover1
BISA Magazine - Quarter 1, 2017 - Cover2
BISA Magazine - Quarter 1, 2017 - Table of Contents
BISA Magazine - Quarter 1, 2017 - 2
BISA Magazine - Quarter 1, 2017 - 3
BISA Magazine - Quarter 1, 2017 - 4
BISA Magazine - Quarter 1, 2017 - 5
BISA Magazine - Quarter 1, 2017 - 6
BISA Magazine - Quarter 1, 2017 - 7
BISA Magazine - Quarter 1, 2017 - 8
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BISA Magazine - Quarter 1, 2017 - 14
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BISA Magazine - Quarter 1, 2017 - 17
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BISA Magazine - Quarter 1, 2017 - 19
BISA Magazine - Quarter 1, 2017 - 20
BISA Magazine - Quarter 1, 2017 - 21
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BISA Magazine - Quarter 1, 2017 - 26
BISA Magazine - Quarter 1, 2017 - 27
BISA Magazine - Quarter 1, 2017 - 28
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BISA Magazine - Quarter 1, 2017 - 30
BISA Magazine - Quarter 1, 2017 - 31
BISA Magazine - Quarter 1, 2017 - 32
BISA Magazine - Quarter 1, 2017 - Cover3
BISA Magazine - Quarter 1, 2017 - Cover4
https://www.nxtbook.com/nxtbooks/bisa/2017q4
https://www.nxtbook.com/nxtbooks/bisa/2017q3
https://www.nxtbook.com/nxtbooks/bisa/2017q2
https://www.nxtbook.com/nxtbooks/bisa/2017q1
https://www.nxtbook.com/nxtbooks/bisa/2016q4
https://www.nxtbook.com/nxtbooks/bisa/2016q3
https://www.nxtbook.com/nxtbooks/bisa/2016q2
https://www.nxtbook.com/nxtbooks/bisa/2016q1
https://www.nxtbook.com/nxtbooks/bisa/2015q4
https://www.nxtbook.com/nxtbooks/bisa/2015q3
https://www.nxtbook.com/nxtbooks/bisa/2015q2
https://www.nxtbook.com/nxtbooks/bisa/2015q1
https://www.nxtbook.com/nxtbooks/bisa/2014q4
https://www.nxtbook.com/nxtbooks/bisa/2014q3
https://www.nxtbook.com/nxtbooks/bisa/2014q2
https://www.nxtbook.com/nxtbooks/bisa/2014q1
https://www.nxtbookmedia.com