NAIFA’s Day in Court to Challenge the DOL Fiduciary Rule

November 21, 2016

By Michael Gerber, NAIFA Chief Operating Officer On November 17, NAIFA’s legal challenge to the DOL fiduciary rule was argued in federal district court in Dallas. In June, NAIFA, NAIFA-Texas, and five NAIFA local associations in Texas (in Amarillo, Dallas, Fort-Worth, Great-Southwest, and Wichita Falls), joined the ACLI in challenging the DOL fiduciary rule because of grave concerns that the rule will improperly reduce consumer access to professional retirement advice. The NAIFA-ACLI cas...

NAIFA Statement on 2016 Election Results

November 9, 2016

The National Association of Insurance and Financial Advisors is committed to working with the newly elected Trump administration and members of the 115 th Congress as it continues to advocate for a positive legislative and regulatory environment for insurance and financial advisors and their clients.   Congress and the administration will be responsible for a number of decisions and actions that will impact NAIFA members and their clients, including potential revision or repeal of the D...

DOL Guidance on Fiduciary Rule Does Little to Clarify Ambiguities

November 1, 2016

The Department of Labor (DOL) issued new fiduciary rule guidance in the form of 34 frequently-asked questions, which focus primarily on the best interest contract exemption, grandfather issues, and some compensation issues.  This is the first in a series of three FAQs the DOL has said it will issue. The current FAQ explains that new money can be invested to an established portfolio without negating the DOL rule’s grandfather clause, and that selling an asset will not negate the grandfa...

NAIFA Continues Work on Senior Protection as FINRA Files Financial Exploitation Rule

October 21, 2016

FINRA has filed its anticipated rule that should help brokers and advisors protect senior investors from financial fraud. NAIFA has provided input during the rule-making process, including submitting a comment letter on an initial draft of the provision. NAIFA is reviewing the current filing, which must be approved by the SEC before it goes into effect, but generally supported the earlier draft.   “Insurance and financial advisors are often the first to recognize the signs when a seni...

More Health Carriers Exit the Individual Health Insurance Market Leading to Fewer Choices for Consumers and Lower Commissions for Advisors

October 7, 2016

Some of the largest health insurers have decided to withdraw from selling individual market health insurance policies in a number of states to mitigate significant financial losses they have incurred while offering these plans. Most recently, Blue Cross Blue Shield of Nebraska announced it would not sell exchange plans in 2017 . This has left consumers with limited health insurance options and resulted in many policyholders having to obtain other coverage as a result of discontinued plans. ...

  • Comments (1)