NAIFA President Jules Gaudreau Answers a Few Questions About NAIFA and the DOL Rule

April 29, 2016

Does the DOL rule reflect a victory for NAIFA? It is a victory for NAIFA’s advocacy, sure. The rule itself is not a “victory for NAIFA.” The fact that The DOL addressed many of the most troubling provisions in earlier drafts of the rule, sometimes using the very language and concepts suggested by NAIFA, shows the effectiveness of our advocacy efforts. A handful of the positive changes include: The Best Interest Contract (BIC) provisions can be incorporated into new account for...

Statement from NAIFA President Jules Gaudreau on the DOL Fiduciary Rule

April 6, 2016

“NAIFA members and others within the insurance and financial services industry worked diligently with the Department of Labor to address many concerns we had with the DOL’s draft rule,” said Jules Gaudreau, president of the National Association of Insurance and Financial Advisors.  “We appreciate that DOL has accepted many of NAIFA’s suggestions and reworked some portions of the rule to address concerns raised during the review process.”     “We remain cautious, and it remains to be seen ...

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As NAIFA Waits for DOL Rule, Politico Has Trouble Finding Consumers It Would Help

April 5, 2016

NAIFA, like everyone else, anticipates that the Department of labor is set to announce tomorrow its final fiduciary rule for advisors providing their clients with retirement advice and services. NAIFA has worked diligently throughout this process to educate the administration and members of Congress about the rule’s potential unintended consequences that could deprive middle-market savers of access to professional, individualized advice. While we have not seen the final rule, indications ar...

Elimination of commission payments in health insurance market 'unfair'

March 17, 2016

In a letter to members, NAIFA President Jules Gaudreau explained why recent decisions to reduce or eliminate commission payments to advisors in the health insurance market  are  “ill-advised, short-sighted and unfair.”    “Decisions to cease commission payments on individual market policies sold after a certain date are ostensibly made to manage the costs of administering some health plans,” Gaudreau told members. “Ultimately, the elimination of commissions will cause great harm...

If Insurance Is Your Profession, Then Politics Is Your Business

March 11, 2016

To commemorate the 50th anniversary of IFAPAC , the NAIFA Blog will run occasional posts by NAIFA members highlighting their political involvement and action. By Ashley C. Corbally, National Young Advisors Team Committee When I first entered the insurance and financial services industry, I didn’t grasp the gravity of the legislative challenges the industry faces every day on both the federal and state levels. Whether it’s fighting for our place in the advisory world, overcomi...