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“Never Put Off Till Tomorrow What You Can Do Today”
“Never Put Off Till Tomorrow What You Can Do Today”
06.10.2014Simple tip for Registered Representatives to reduce risk:
Stop Procrastinating! Read on to find out how procrastination could cost you
money:
Claim Scenario: A
registered representative received a trade request from his client. He provided
the information to his assistant to process the trade and then left the office
for meetings. His assistant attempted to reach the registered representative
several times prior to the market closing because she had a question about the
order. The registered representative did not respond to his assistant until
after the end of the trading day so the trade was not timely executed. As a
result, a correction was processed which resulted in a loss for the client due
to market fluctuation.
Estimated Claim Cost:
$2,700
Loss Prevention Tip:
Follow-up promptly to ensure that trades are correctly placed. Promptly review
confirmation slips for accuracy and follow-up if you do not receive
confirmation of a trade.
Confirm that your assistant understands your instructions.
Have a process in place in the event questions arise and you are not
available.
All information provided in this blog is for informational
purposes only. The sources used are presumed accurate. CalSurance Associates,
Brown & Brown Program Insurance Services, Inc. and Brown & Brown, Inc.
will not be liable for any errors, omissions, losses, injuries or damages
arising from its display or use and will not assume responsibility for any
misguided information. No guarantees are implied.
Written by
CalSurance Team
Published June 2014
