To Fee or Not to Fee: Consumers Deserve Choices When Selecting Financial Advisors

October 29, 2014

Who says it is always in the best interests of consumers to do business with fee-only financial advisors? We’ve seen dozens of financial advice columns “warning” consumers that registered representatives do not adhere to a strict fiduciary standard. For trustworthy (and better) advice, they typically claim, investors must avoid registered representatives compensated by commissions.  Maybe we shouldn’t be surprised that these articles, almost invariably, are written by or rely on inte...

Your Health Idaho Working With Agents and Brokers

October 24, 2014

Few people understand health insurance better than agents and brokers. In 2013, as Idaho started the process of launching its state-based exchange, Your Health Idaho, NAIFA worked hard to ensure health advisors were incorporated into the system so consumers would have somewhere to turn for help and guidance. Your Health Idaho chose to embrace the expert advice and added competition agents and brokers brought to the marketplace and during the first year of open enrollment they became a corn...

SEC Commissioner weighs in on fiduciary

October 7, 2014

Requiring more concise disclosure would help protect investors and be a better alternative than imposing a uniform fiduciary rule on brokers and financial advisors, SEC Commissioner Michael Piwowar said in prepared remarks before the National Association of Plan Advisors. "Even if the Commission were to adopt a uniform fiduciary standard, it is quite likely that investor confusion would continue,” Piwowar said. NAIFA President Juli McNeely called Commissioner Piwowar’s suggestion “ins...