Richard CanfieldPodcast Host and IBC Advisor, Ascendant Financial · Authorized Infinite Banking Practitioner | Author of 4 Books

Are Agents Putting You at Risk?

17 Jan 2025 · 1 min

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A short monologue advising financial-services professionals to prioritize clients' best interests and avoid selling products they do not fully understand. The speaker (a litigator) warns against recommending high-commission products—such as cherry-picking life insurance—as a sole strategy and notes ethical and legal risks, including exposure to litigation from professionals like himself.

Chapters

Financial services industries are a great profession to be in, but you really have to have your customers best interests at heart. You should not sell a product that you do not have a deep and full understanding of. For example, I'm a litigator. I'm not a tax lawyer. I should not give anyone any tax advice. Life insurance is a wonderful but when you grab and cherry pick one happens to be the highest commission paid product in the country, and you recommend that as the sole and only strategy for your customers, you probably need to do some deep reflection on what it is you're doing. And the worst thing is when a lawyer shows up like me and can potentially drive you out of that industry because I've done that to agents.