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NAIFA Collaborates in Unprecedented Partnership
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NAIFA Collaborates in Unprecedented Partnership

The Financial Services Industry Comes Together to Help Baby Boomers

Contact:

Lee Allen
Vice President of Communications and Marketing
(703) 770-8112

September 22, 2008 (FALLS CHURCH, VA) —The National Association of Insurance and Financial Advisors (NAIFA) is collaborating in an unprecedented partnership in the financial services industry to help meet the needs of the 78 million Baby Boomers expected to start retiring soon.

The Partnership for Retirement Education Planning, or PREP as it is called, focuses its partners on helping Baby Boomers better understand and overcome their financial challenges by improving their financial literacy.  NAIFA, The Million Dollar Round Table (MDRT),The Association for Advanced Life Underwriting (AALU), and the Society of Financial Service Professionals (FSP) are among ten non-profit associations, representing more than 200,000 financial professionals, involved in PREP.

Members of the participating groups will have access to a variety of educational materials to help them reach and communicate with Baby Boomers.  Some of the resources include a Planning Guide with free communications tools; a PowerPoint presentation that members can customize for their Boomer clients; flyers and ads members can use to promote a Baby Boomer seminar; and a pre-written article on retirement that members can send to their local media. NAIFA members can log in to access the free materials at: www.naifa.org/PREP.

PREP members have also endorsed a Financial Dignity Bill of Rights for consumer clients. The Financial Bill of Rights will be featured in advertisements in USA Today on September 23 and November 20, and members will be able to give clients a copy as part of their educational materials.

“These materials offer our members the tools they need to educate their Boomer clients and prospects about the importance of financial planning for retirement,” says Jeffrey J. Taggart, CLU, ChFC, LUTCF, immediate past-president of NAIFA. “With the recent turbulence in the financial markets, this is a perfect opportunity for PREP members’ to approach clients to address their retirement needs.” 

Starting next February, PREP representatives will begin a series of road shows around the country to help educate members about the materials and resources available to them to help their Boomer Clients.

About NAIFA: Founded in 1890 as the National Association of Life Underwriters, the National Association of Insurance and Financial Advisors comprises nearly 800 state and local associations representing the business interests of 60,000 members nationwide. Members focus their practices on one or more of the following: life insurance and annuities, health insurance and employee benefits, multiline, and financial advising and investments. NAIFA’s mission is to advocate for a positive legislative and regulatory environment, enhance business and professional skills, and promote the ethical conduct of its members. Visit NAIFA’s website at www.naifa.org.