Rep. Ann Wagner Tells NAIFA: Congress Needs to Hear From You on DOL Proposal

May 20, 2015

Rep. Ann Wagner (R-Mo.) told attendees at NAIFA's Congressional Conference yesterday that they need to be tough when they talk to legislators and educate them about the damage the Department of Labor’s proposed “best interest” rule could do to advisors and their middle- and lower-income clients.   The proposed rule would redefine a retirement investment advice fiduciary under the Employee Retirement Income Security Act (ERISA) and the Internal Revenue Code. NAIFA believes that as a...

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Kempthorne Addresses NAIFA’s Congressional Conference

May 20, 2015

During NAIFA’s Congressional Conference currently under way in Washington, D.C., the President and CEO of ACLI, Governor Dirk Kempthorne, highlighted the great work agents and advisors do each day as they help their clients work toward a secure financial future. Kempthorne’s riveting speech was a source of inspiration to many in the audience as they prepared for meetings with their lawmakers.   “You speak for the aspirations of people who work hard, who protect their families and hope fo...

NAIFA Leaders Meet With White House Officials on the DOL Proposed Rule

May 14, 2015

On May 4, NAIFA President Juli McNeely, Past President Terry Headley, Acting CEO Michael Gerber and several staff members met with officials from the White House and Department of Labor to discuss NAIFA’s concerns about DOL’s proposed “best interest” rule for retirement plan advice. We asked Juli and Terry to tell us about the meeting.     How would you describe your meeting with Department of Labor and White House officials?   Juli McNeely: I felt like it was a productive m...

DOL's proposed fiduciary regs on agenda at NAIFA conference

May 11, 2015

The Department of Labor’s proposal to expand the definition of investment advisor fiduciaries under ERISA is “complex and costly,” and ultimately would reduce consumer choice and access to affordable financial advice, members of the National Association of Insurance and Financial Advisors will tell Congress May 20 during meetings on Capitol Hill.   “Regulations are important to protect consumers and to ensure their continued faith in their financial advisers,” said NAIFA President Juli ...

Here’s Why the DOL Fiduciary Proposal Would Have a Huge Impact on Advisors and Investors

May 8, 2015

The Department of Labor has proposed new regulations that will have serious consequences for insurance and financial advisors and their clients planning for retirement. The proposed rule would redefine a retirement investment advice fiduciary under the Employee Retirement Income Security Act (ERISA) and the Internal Revenue Code.   As a result, many NAIFA members who have operated effectively on behalf of clients under a suitability standard would now be considered fiduciaries and subje...