Brokers Required to Update Profile
The AML requirement is one of the most misunderstood licensing issues we deal with at Brokerage Unlimited. Many brokers do not know that they must go back to the AML web site and update their profile periodically.
There are two kinds of updates that are required. One is to update new appointments with carriers. If you have become appointed with a new carrier, you must log onto the AML web site and complete the carrier requirement. Most often this involves nothing more than viewing the carrier's AML information page, but it must be done before the carrier will issue a case for that broker.
The second type of update is the AML test itself. Most carriers require the test be redone every two years. So, for example, if you first completed the test during 2007, you will be required to complete it again in 2009.
When you log onto the
AML web site and call up your profile, you will be able to add carriers. You will also see any outstanding requirements that you must complete as they will be listed with an "incomplete" notation next to that requirement.