National Ethics Bureau Says NBC Dateline's ''Tricks of the Trade'' Program Creates...

National Ethics Bureau Says NBC Dateline's ''Tricks of the Trade'' Program Creates Opportunity for Ethically Committed Financial Professionals

Although Highly Controversial, NBC Broadcast Highlights the Need
for More Transparency in Financial Services Sales Practices, Says
Industry Ethics Group
SAN DIEGO--(Business Wire)--
In the aftermath of Dateline NBC's expose on annuity sales
practices, financial professionals have an opportunity to reaffirm
their commitment to ethical business practices and to implement those
practices with their clients, according to the National Ethics Bureau
(NEB).

While many believe that Dateline NBC's report was journalistically
flawed, millions of Americans may take its claims at face value. As a
result, NEB, a membership organization of background-checked financial
professionals, encourages advisors to consider the program's
underlying lessons and recommit to serving the public with high levels
of integrity, especially in the areas of suitability and disclosure.

Specifically, NEB issued the following reminders to all financial
professionals:

-- First, don't just give lip service to full disclosure. Always
fully explain interest rates; if, when, and how they might
change; and all fees consumers must pay in connection with
their financial product.

-- Second, don't misrepresent any fact in an effort to persuade
consumers to buy a financial product or service. For example,
do not suggest that the FDIC, which insures bank deposits, is
insolvent.

-- Third, don't rely on fear as a sales tactic. Rather, provide
objective information that helps clients to clarify their
goals and to address their actual financial needs and
concerns.

-- Fourth, don't use dubious or unaccredited industry
designations. Instead, make sure a designation adds legitimate
value to your business and to your clients.

-- Fifth, don't claim that you've written an article or book that
you haven't actually written or personally collaborated on.
It's acceptable to use third-party content to support your
marketing effort as long as it is identified as such.

To learn more about these and other ethical business practices,
NEB encourages financial professionals to subscribe to Ethics Edge,
its free monthly e-newsletter. Ethics Edge includes compliance
guidance (Red Flag Reminders) and ethics motivational content (Eye on
Ethics), as well as profiles of NEB members who are doing business
with integrity.

Those who wish to communicate their ethical commitment publicly
should consider joining the National Ethics Bureau. To qualify for
membership, financial professionals must pass a series of background
checks and agree to maintain the professional standards embodied in
NEB's Ethics Pledge and Member Agreement.

About National Ethics Bureau:

The National Ethics Bureau(TM) (NEB) is a membership organization
of financial professionals who have successfully passed a series of
comprehensive background checks and have agreed to maintain NEB
membership standards.

NEB advocates for ethical business practices in the financial
services industry through its trade-magazine columns, conference
presentations, monthly newsletter, and website content
(www.ethicscheck.com). In addition, NEB offers related services such
as state-approved ethics and compliance continuing education courses
for licensed insurance agents and securities brokers, as well as for
those holding accredited designations.

For the general public, NEB provides the ability to purchase a
background check on any financial professional prior to doing
business.

NEB is not a financial designation, nor does it endorse any
products or services offered by its members or sponsors.

For more information, visit www.ethicscheck.com.

National Ethics Bureau
Steven R. McCarty, 800-282-1831
smccarty@ethicscheck.com
or
Harry J. Lew, 860-621-9358
hlew@ethicscheck.com

Copyright Business Wire 2008