initially, i wrestled with my inner-self whether to go public with the latest experience of an encounter with a referred prospect, some days after i received a severe tongue lashing from one of my fav clients.
but i have decided to go ahead and blog this episode in the interests of being transparent in my practice as a financial advisor despite it's negativity.
what happened?
my comments:
in what is becoming an increasingly common thingy (to me, at least) with regard to filling out life insurance application forms, there is a clear divide with the person in front of me, on what i term as full disclosure.
this usually boils down to the propect's decision not to make full disclosure of material information such as past medical history and or medical conditions/symptoms which fails to heed the warning in the application form which states:
"Pursuant to section 25(5) of the insurance act (cap.142), you are to disclose in this application form FULLY and FAITHFULLY, ALL FACTS which you know or ought to know, otherwise the insurance effected may be void."
but the most troubling aspect of this divide is that the prospect has seen another financial advisor (obviously also not make known to me) whose advise is that there is no need to declare past medical history and or medical conditions/symptoms.
which led the prospect to 'complain' to my fav client and the latter to pour out his 'xxxxxxx' to me.
and of course, i have no disillusions that i may have lost more than the goodwill of my fav client and probably lost all source of future referrals from him.
well, so be it (if that is the case) because when it comes to the tenets of ethics and integrity and serving client's interests, there can be no compromise on these principles because i'm no fly by night operator with a proven track record of heading into my 15th years in the financial industry and intend to be around long into the future, by the grace of God.
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