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So far Lockton Affinity, LLC has created 26 blog entries.

VIDEO: How to Navigate the Current Fiduciary Liability Insurance Market with Tom Schrandt

The current fiduciary liability insurance market is challenging, with some financial professionals finding it impossible to get coverage they can afford. To help provide a path forward, Lockton Affinity's Tom Schrandt joins Josh Itzoe, CFP®, AIF®, on a recent episode of The Fiduciary U™ Podcast. Tom is a Vice President, Partner and Producer at Lockton [...]

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By | March 30th, 2022|RIA|0 Comments

8 Cyber Risks from Working from Home

A lot has changed about the way businesses work over the last few years, including a rise in the cyber risks from working from home for RIAs and other financial professionals. Most computer systems at big offices are well protected from everyday intrusions. Computers at home are not. This wasn't as much of an issue [...]

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By | March 22nd, 2022|RIA, Uncategorized|0 Comments

Understanding the Fraud Coverage Within a Cyber Liability Policy: Computer Fraud vs. Funds Transfer Fraud

Most registered investment advisors see any potential fraud involving computers as a serious risk to business, but fraud coverage within a cyber liability policy can vary. Unlike RIAs, insurers don't think of cyber risks like fraud as one single risk, but as many varied risks. Policy underwriters break out these risks into categories, offering more, [...]

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By | March 14th, 2022|RIA|0 Comments

3 Products RIAs Must Buy

3 Products RIAs Must Buy No business wants to spend money it doesn't have to. But without these 3 products RIAs must buy, a firm could find itself paying for risks it can't afford. In any shopping scenario, there are some bells and whistles that would be nice to have and other must-haves that you [...]

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By | January 25th, 2022|RIA|0 Comments

How Lockton Affinity Advisor Meets Schwab Insurance Benchmarks

How Lockton Affinity Advisor Meets Schwab Insurance Benchmarks Your financial services firm faces special risk when operating your business. In the registered investment advisor (RIA) industry, that risk is climbing. Recently, Charles Schwab Co., Inc., one of the largest financial services custodians in the world, sent a memo to their RIAs communicating new requirements for [...]

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By | December 13th, 2021|Industry Information, RIA|0 Comments

What to Know About Trade Errors

Trade Errors and Their Risks A primary duty of advisors is the faithful execution of trade orders on behalf of clients. If an advisor makes a mistake executing a trade order, a client can suffer a significant loss and an advisor can face legal and regulatory penalties. Unfortunately, industry data shows that trade errors are [...]

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By | October 13th, 2021|RIA|0 Comments

The Current State of the Cyber Market

The Current State of the Cyber Market Cyber liability insurance protection is key to an effective risk management strategy when you're a registered investment advisor. But changes are afoot in the cyber insurance marketplace and it could impact your ability to get the coverage you need while it's still affordable. Since the beginning of the [...]

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By | September 22nd, 2021|Industry Information, Insurance Information, RIA|0 Comments

Hiring a Service Provider with Strong Cybersecurity Practices

Hiring a Service Provider with Strong Cybersecurity Practices Under ERISA, retirement plan fiduciaries can be held liable for cyber crime impacting participant data and assets, even when the fault lies with a service provider. New guidance suggests how advisors like you can protect yourself. New Guidance for Fiduciaries Issued High rates of cyber crime continue [...]

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By | August 9th, 2021|RIA|0 Comments

5 Recent Excessive Fee Lawsuit Case Examples

5 Recent Excessive Fee Lawsuit Case Examples Advisors have been hearing a lot about recent excessive fee lawsuit cases these days. With so much repetitive news, it's understandable if you've thought about tuning it out. But remember that these ERISA-based class action lawsuits can pose a huge risk to your career and personal assets. Under [...]

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7 Easy Ways to Reduce Excessive Fee Claim Risk

7 Easy Ways to Reduce Excessive Fee Claim Risk Excessive fee claims pose a major risk to advisors. From questionable allegations to cookie-cutter ERISA lawsuits, excessive fee claims are growing, impacting more and more retirement plan fiduciaries. These sprawling class-action lawsuits can put both your professional and personal assets at risk but there are some [...]

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By | May 21st, 2021|RIA, Risk Management|0 Comments