National Association of Insurance and Financial Advisors

NAIFA Survey Fills in Some Blanks in Sen. Warren’s Report on Non-Cash Compensation

October 29, 2015

A new report issued by the office of Sen. Elizabeth Warren (D-Mass.) implies that non-cash compensation, such as training trips and contest prizes, pose a serious problem because they incentivize financial advisors to “sell products that are not in the consumers’ best interests.” Sen. Warren seems to base this conclusion on the fact that 13 of the 15 annuities firms that responded to a survey created by her office said that they do indeed offer non-cash compensation in some form.   The ...

NAIFA Suggests Changes to Model Act on Senior Protection

October 28, 2015

Fred Joseph, president of the North American Securities Administrators Association (NASAA), has said financial fraud involving older Americans is becoming “ the crime of the 21st century. ” Seniors are often targets of scammers and other fraudsters because they are thought to have significant savings or investments and they are seen as soft targets unlikely to report financial crimes, according to the National Council on Aging . Dementia and cognitive impairment can make segments of the seni...

PACE Act Turns NAIFA’s Advocacy Spotlight to the States

October 16, 2015

As the NAIFA Blog noted last week , the Protecting Affordable Coverage for Employees (PACE) Act has been signed into law. The PACE Act modifies the Affordable Care Act so that “small employers” may remain defined as businesses with 50 or fewer employees. Under the ACA, beginning January 1, 2016, “small employer” would have been redefined as a business with 100 or fewer employees. However, the PACE Act still gives individual states the prerogative to redefine a “small employer” as one with ...

Update on DOL Fiduciary with NAIFA's Judi Carsrud

October 13, 2015

Judi Carsrud , NAIFA’s Director of Government Relations, joins Real Wealth Marketing's Power Session LIVE for an update on the Department of Labor's proposed fiduciary rule . Listen to Judi's update and a Q&A session for details on the issue, how it may affect the industry and NAIFA members' ability to serve clients.

Obama signs law on ACA definition of 'small business'

October 9, 2015

President Obama signed legislation that will ensure that small group markets remain defined as 1-50 employees rather than change to 1-100 employees on Jan. 1, 2016. NAIFA members advise small businesses on appropriate health insurance and employee benefits coverage for their employees. The bipartisan modification to the ACA will help NAIFA members continue to serve their small employer clients and avoid plan disruption for employers with 51-100 employees. Business groups were concerned ...