Advisor Today - July/August 2016 - (Page 28)
By the NAIFA Government Relations Team
NAIFA's activity on the
DOL proposal illustrates
two strengths of the
strategy: its formidable
grassroots network and
its expertise in working
with lawmakers to effect
28 ADVISOR TODAY | July/August 2016
Nearly 1,000 NAIFA members swarmed Capitol Hill in
Washington, D.C., in May of 2015 facing a monumental challenge.
DOL's newly proposed fiduciary regulations would fundamentally
alter the way insurance agents and financial advisors provide
retirement planning products, services and advice.
The DOL plan was unworkable for NAIFA members and
threatened to deny middle-market investors access to much-needed
advice. It would have disrupted and perhaps even ended existing
client relationships that advisors had worked hard for years-and
sometimes decades-to cultivate.
"We knew the DOL rule was bad, and it had the potential to
devastate our business and large segments of our client base,"
says Jules Gaudreau, ChFC, CIC, NAIFA's president, who at that
time served as president-elect. "But we also trusted the power of
NAIFA's advocacy. We had a great example from just a few years
earlier, when the DOL famously withdrew its 2010 fiduciary
proposal days after a thousand or so NAIFA members met with our
lawmakers to express our concerns with it."
NAIFA's activity on the revised DOL proposal at the 2015
Congressional Conference illustrates two prongs of NAIFA's overall
advocacy strategy: Creating and maintaining a diverse grassroots
network, and developing and maintaining personal and professional
relationships with federal lawmakers through NAIFA's Government
Table of Contents for the Digital Edition of Advisor Today - July/August 2016
From the Editor
A Question of Ethics: Reflections on the Dol Fiduciary Rule
Getting the Wealthy Investor to Hire You
Positioning Whole Life for Success
Rewarding Clients for Engaging in Healthy Activities
Feel the Heat: Sizzling Strategies for Boosting Worksite Sales
The Challenges of Writing Business Insurance
A Lifetime of Success
Safeguarding Your Business Interests
NAIFA Presents Nominees for Election
What’s Behind Brand Magic?
Making an Effective Call Back
A Story for All Your Clients
Ideas to Expand Your Practice
Advisor Today - July/August 2016