Compliance

Compliance Issues and the Million Dollar Bill

This concern and question only applies to those in the financial services industry. The Million Dollar Bill is simply a device you can use to get attention. The real issue relates to what you say, what you promise, what you imply, and that can raise questions regarding compliance.

Some of the toughest compliance departments in prominent companies in the financial services industry have approved the use of this Million Dollar Bill. Many advisors in the financial industry are using it to get attention and responses. Why shouldn't you have the same advantage and rewards?

Based on very reliable senior sources in the financial services profession, the following is our understanding, and position, regarding our Million Dollar Bills and compliance.

1. If the bill is not customized for the agent, there is nothing about the bill itself that should conflict with compliance issues. The bills are just an attention-getter. In and of itself, the Million Dollar Bill does not imply any financial returns. It should only become an issue for compliance in how it is used, i.e. the wording in the letter or promotional material it is attached to, or the presentation in which it is used.

2. If the bill is customized for the agent, as long as the agent is only listing his generic products, i.e. estate planning, asset protection or long term care, etc., it is not an issue. Only when words such as "investment" or "mutual funds" are included would compliance approval be required because it becomes a securities issue under the NASD. If the agent or broker wants to include the company name on the bill, we recommend that they get the company's approval first.

There are literally thousands of life insurance agents, bankers, lawyers, and financial services representatives using this Million Dollar Bill in their businesses to promote good will, thank clients for referrals, to get attention, and to get appointments. The effect is predictable . . . when someone sees the Million Dollar Bill, it always brings a smile, they never throw it away, they always remember where they got it, and they share that information with others.

According to many of the top producers throughout the industry, the Million Dollar Bill is one of the most effective sales tools available.
See what they have to say.