About Lockton Affinity, LLC

Lockton Affinity, an affiliate of Lockton Companies, was formed in 1987 to meet the dynamic, specialized insurance needs of affinity groups, non-profits, associations and franchises.

Excessive Fee Lawsuits Against Advisors

Excessive Fee Lawsuits Against Advisors Fiduciaries of retirement plans face a number of evolving risks. Most recently, there has been a wave of excessive fee lawsuits against advisors. Large class-action lawsuits were once rare and targeted at big firms with billions of assets under management. Now, these suits have taken aim at small-firm fiduciaries managing [...]

Read More
By | December 8th, 2020|RIA|0 Comments

Managing Cybersecurity Risk to 401(k) Plans

Managing Cybersecurity Risk to 401(k) Plans Personal data and financial assets are top targets for today's cybercriminals, but many advisors lack sufficient cybersecurity protections to meet legal requirements and protect 401(k) plan participants. Cybercrime often impacts a client's personal information as well as their financial assets. As a 401(k) plan fiduciary, failure to take the [...]

Read More
By | November 17th, 2020|RIA|0 Comments

Disclosing Disciplinary Events on Form ADV Part 3 for RIAs

Disclosing Disciplinary Events on Form ADV Part 3 for RIAs The best advisor–client relationships are built on trust and professionalism. In many ways, that professional trust is built by following the proper procedures for reporting and compliance, such as properly disclosing disciplinary events on Form ADV Part 3. Following the procedures designated by the United [...]

Read More
By | November 2nd, 2020|Industry Information, RIA, Risk Management|0 Comments

Wire Fraud Risks for Retirement Plan Advisors

Wire Fraud Risks for Retirement Plan Advisors Year after year, cyber crime continues to grow and evolve, including wire fraud risks for retirement plan advisors. Certain industries, including the financial industry, have seen an increase in the number and cost of attacks. Because financial professionals like retirement plan recordkeepers, CPAs and lawyers host large amounts [...]

Read More

What Financial Professionals Should Know About Shared Limits vs. Individual Limits

What Financial Professionals Should Know About Shared Limits vs. Individual Limits When it comes to your Errors and Omissions Liability Insurance, small policy details—such as shared limits versus individual limits—can make a huge difference. Consider the following: a corner bakery you visit every day runs out of your favorite pastry just before you reach the [...]

Read More
By | October 22nd, 2019|Life Agents|0 Comments

Why Today’s Financial Professionals Need Errors and Omissions Liability Insurance

Why Today's Financial Professionals Need Errors and Omissions Liability Insurance While all investments involve risk for the investors, a considerable risk also exists for the financial professionals who provide services to those investors. Even if you are extremely diligent in the exercise of your duties and enjoy great relationships with your clients today, you could [...]

Read More
By | September 19th, 2019|Insurance Information, Life Agents|0 Comments

New York Introduces Best Interest Standard for Annuity Sales

New York Introduces Best Interest Standard for Annuity Sales Individual states continue to introduce their own rulings, following the SEC Regulation Best Interest ruling. The new requirements under Regulation Best Interest and the disclosure requirements on broker-dealers and investment advisors will take effect on September 10, 2019. As of August 1, New York financial professionals have [...]

Read More
By | August 22nd, 2019|Industry Information, Life Agents|0 Comments

Fiduciary Rule and Its Effect on Financial Professionals—Part IV: Individual State Rulings

Fiduciary Rule and Its Effect on Financial Professionals—Part IV: Individual State Rulings A fiduciary rule proposed by the U.S. Department of Labor (DOL) in 2010, has left the industry in flux ever since. With the goal of protecting consumers from conflicting financial advice, the rule has been in debate since 2016. It has been phased [...]

Read More
By | August 13th, 2019|Industry Information, Life Agents, RIA|0 Comments

Fiduciary Rule and Its Effect on Financial Professionals—Part III: What to Do as a Financial Professional

Fiduciary Rule and Its Effect on Financial Professionals—Part III: What to Do as a Financial Professional A fiduciary rule proposed by the U.S. Department of Labor (DOL) in 2010, has left the industry in flux ever since. With the goal of protecting consumers from conflicting financial advice, the rule has been in debate since 2016. [...]

Read More
By | July 19th, 2019|Industry Information, Life Agents, RIA|0 Comments

Fiduciary Rule and Its Effect on Financial Professionals—Part II: Where It Stands Today

Fiduciary Rule and Its Effect on Financial Professionals—Part II: Where It Stands Today A fiduciary rule proposed by the U.S. Department of Labor (DOL) in 2010, has left the industry in flux ever since. With the goal of protecting consumers from conflicting financial advice, the rule has been in debate since 2016. It has been [...]

Read More
By | June 7th, 2019|Industry Information, Life Agents, RIA|0 Comments