Saturday, August 08, 2015
Another reason I did not become a life insurance agent or financial planner back in the 2000's
Just a reminiscence of an interview from the past. Back in 2005, I went through the first three interviews for becoming a life insurance agent. (One of the first steps had been a quiz that asked if I was willing to buy things from a salesman! How telling now.)
Then I was told that, according to Sarbannes-Oxley, an agent could not have any other income. I’m not sure if that referred in part to income from current investments. But in my situation an issue was continued royalties (however small) from my self-published books and presumably future revenue from web sites. This sounded a little like the old conflict of interest in the 1990s over the military issues. But I suppose if someone is selling investment products to consumers, there could be conflicts that influence which products he tries to get consumers to buy.