PURPOSE: This rule defines in part false information and advertising under section 375.936(4), RSMo (1986).

1. (1) No insurance agent or insurance broker licensed by the Missouri Department of Insurance shall—

   1. (A) Represent him/herself, directly or indirectly, to the public as a financial planner, advisor, consultant or counselor in a manner as to imply or offer any services other than—

      1. 1. Those authorized by his/her issued

insurance licenses;

1. 2. Those authorized by other issued pro-

fessional licenses; or

1. 3. Those not requiring a license. This

provision is not intended to prevent persons who hold a financial planning consultant designation from using this designation when they are only selling insurance;

1. (B) Represent him/herself as being in the business of financial planning without disclosing to the client that s/he is licensed as an insurance agent or an insurance broker in Missouri; and
2. (C) Charge a fee or other form of compensation for financial planning when that person is selling insurance unless that person is licensed as an insurance broker and complies with the requirements of section 375.116, RSMo.

AUTHORITY: section 374.045, RSMo 1986.* This rule was previously filed as 4 CSR 190- 10.120. Original rule filed Oct. 16, 1989, effective April 15, 1990.

*Original authority: 374.045, RSMo 1967.