December 21, 2015
Dear NAIFA member,
As the year draws to an end, allow me to extend my warmest holiday wishes to every NAIFA member, your families and loved ones. Your dedication to NAIFA as well as your passion for your business, colleagues and clients has resulted in another great year.
On the advocacy front, we have been fortunate in 2015 to achieve a number of legislative and regulatory successes. The most significant of these include:
Passage of NARAB II legislation
December 18, 2015
It has been a rough year for health insurance co-ops established under the Affordable Care Act (ACA). At least a dozen of the 23 co-ops have failed, resulting in hundreds of thousands of policyholders and their advisors scrambling to line up alternative coverage.
And because the defunct co-ops received approximately $1.24 billion in loans from the federal government, these failures have cost taxpayers and the federal treasury. More troublesome, most of the surviving co-ops are in a prec...
December 18, 2015
The National Association of Insurance and Financial Advisors applauds Reps. Peter Roskam (R-IL), Richard Neal (D-MA), Phil Roe (R-TN), and John Larson (D-CT) for introducing legislation that would protect Americans saving for retirement without making it more difficult for them to receive professional advice.
“The bipartisan Strengthening Access to Valuable Education and Retirement Support (SAVERS) Act and Affordable Retirement Advice Protection (The ARAP) Act introduced into Congr...
December 16, 2015
NAIFA CEO Kevin Mayeux was featured in a PBS Newshour segment on the Department of Labor’s proposed best interest regulation. (Mayeux’s remarks begin at 3:45 into the report.) While the overall tone of the item may have leaned in favor of the DOL proposal, Mayeux was able to defend advisors who have seemingly been under siege by proponents of the rule.
“Financial advisers that are successful are constantly acting in the best interests of their clients, because, if they weren’t, they...
December 9, 2015
NAIFA President Jules Gaudreau appeared on an NPR Morning Edition segment on the congressional response to the DOL’s fiduciary rule proposal.
“This DOL rule, unless it’s modified drastically, imposes a rubric of new regulations hundreds and hundreds of pages long,” Gaudreau told NPR.
The NPR report makes it sound as if the bipartisan members of Congress who have expressed doubts about the DOL proposal are using underhanded tactics to try to scuttle the rule. They are, according ...