NAIFA Blog

Why Doesn’t NAIFA Think Advisors Should Work in Their Clients’ Best Interests?

June 30, 2015

By Juli McNeely Straw man  n.  1: a weak or imaginary argument or opponent that is set up to be easily defeated. Merriam-Webster Dictionary (online) As president of the National Association of Insurance and Financial Advisors, I have stated numerous times that the Department of Labor’s proposed fiduciary rule for retirement investment advice is unworkable. The proposal would confuse investors, increase costs, harm advisor-client relationships and interfere with the ability of a...

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NAIFA Statement on Supreme Court's King v. Burwell Decision

June 25, 2015

“In the wake of the Supreme Court decision in King v. Burwell, NAIFA remains committed to pursuing targeted revisions to the Affordable Care Act,” said NAIFA President Juli McNeely. “For example, NAIFA supports legislation recently introduced by Sens. Isakson and Coons in the Senate and Reps. Long and Schrader in the House to remove advisor compensation from the medical loss ratio (MLR) calculation.   “We also favor S. 1099, introduced by Sens. Scott and Shaheen, and HR 1624, introduc...

NAIFA applauds Sens. Isakson and Coons for introduction of bill addressing MLR

June 24, 2015

U.S. Senators Johnny Isakson, R-Ga., and Chris Coons, D-Del., have introduced legislation that would exclude any compensation earned by independent insurance agents and brokers that serve the individual and small group markets from the medical loss ratio (MLR). NAIFA applauds the bill, Access to Independent Health Insurance Advisors Act (S.1661), because it will ensure health insurance agents and brokers can continue to provide essential counseling and advocacy services to consumers lo...

Financial Advisors Say DOL Rule Would Reduce Access to Advice and Harm Client Relationships

June 23, 2015

NAIFA members concerned ‘best-interest contracts’ required under rule would confuse clients A survey by the National Association of Insurance and Financial Advisors (NAIFA) found that a majority of insurance and financial advisors are concerned that the Department of Labor’s proposed “investment advice fiduciary rule” will harm advisor-client relationships, interfere with advisors’ ability to serve retirement investors and increase costs.   Under the proposal, advisors receiving co...

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NAIFA Continues Its 125-Year Legacy of Advocating for Advisors and Their Clients

June 18, 2015

The National Association of Life Underwriters was founded 125 years ago today, June 18, 1890, in Boston as an advocacy organization for insurance agents.   Those first NALU members came together with the aim of promoting regulations that would protect the integrity of the insurance industry and root out unscrupulous agents who could give insurance a bad reputation with consumers.   While changing its name along the way, NAIFA has remained committed through the years to advocating for ...