
NEWSLETTER
February 2022
Simplicity News

Please look for an email from Heather Peck regarding the updated Employee Handbook.

Simplicity is hosting a one-day Broker-Dealer Wholesaler Training on April 28 in Austin, TX for interested ADCs. More info forthcoming.

Mandatory Compliance and HR Training will be taking place in the next few months – please look for an email with registration details.

Simplicity is hosting its first-ever ADC Summit on April 29 in Austin, TX; Registration link forthcoming for all ADCs.
Upcoming Events
Next 30 Days
February 21
Simplicity Offices closed in observance of
*select offices; see your manager to confirm your office’s schedule
February 24-25
Learn how to harness the power of a proven sales process with an end-to-end sales experience that can help grow production and establish strong connections with new clients.
*external
March 1
with Global Atlantic
Learn how to utilize marketing resources, lead generating opportunities, exclusive software, and more to elevate your sales in 2022.
*external
March 3
ABLTC Recruiting Webinar
*external
Next 60 Days
March 17
*external
March 30
Wealth Training Event for Current Advisors
*external
Compliance
On February 1st, the DOL enforcement date went into effect. Here are helpful reminders of what is currently required:
Agents should continue to determine whether each financial transaction is a fiduciary transaction. Agents may generally utilize the 84-24 exemption for insurance and annuity contracts that are considered fiduciary transactions.
How do I know if a transaction is a fiduciary transaction?
- You provide advice as to the value of securities/property, or recommendations as to the advisability of investing in, purchasing, or selling securities or other property;
- You provide (or anticipate providing) advice on a regular basis;
- The advice you provide is made pursuant to a mutual agreement, arrangement, or understanding with the plan, plan fiduciary, or IRA owner;
- The advice you provide will serve as a primary basis for investment decisions with respect to plan or IRA asset; and
- The advice is individualized based on the particular needs of the plan or IRA account.
If the agent is registered and affiliated with a Broker-Dealer or RIA there may be additional requirements that their compliance personnel can advise. The requirements may be in line with the other exemption: PTE 2020-02.
Will the DOL Rule be delayed?
Do agents need to send the 84-24 or any supporting documentation to the carrier? What documentation should they be obtaining?
Should you have specific questions regarding the DOL Rule, please feel free to contact Jared Margolies.
Social Media
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