need clarification

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PostPosted: Tue Jun 23, 2009 6:45 am   Post subject: need clarification  

The difference between Financial advisors and insurance agents are that advisors give advice on broader financial products including commercial banking products, pure investment products as well as insurance products. Agents only advice on insurance related products...correct?


In the US, in the case of malpractice with agents and advisers do affiliated insurance carriers claim reposonsability and reinburse the client for their losses?

In the UK, "tied" advisors are backed by their insurer but independent advisors aren't.

Thank you

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PostPosted: Tue Jun 23, 2009 10:16 am   Post subject:   

The term "financial advisor" has no real meaning. In other words, anybody can call themselves a financial advisor. An insurance agent is somebody who is licensed to sell insurance products.

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