When Wall Street News Causes Main Street Angst, Agents and Advisors Become Vital Resources
In Turbulent Markets, Consumers Need Trusted Advisors
Contact:
Lee Allen
Vice President of Communications and Marketing
(703) 770-8112
September 19, 2008 (FALLS CHURCH, VA) — In response to a virtual avalanche of media coverage focusing on turmoil in the financial markets this week, the National Association of Insurance and Financial Advisors (NAIFA) reiterates the importance of calm, sound financial advice, stressing that the role of agents and advisors is never more clear than in unsure economic times.
Just like the almost 60,000 individual members across the country, NAIFA’s leaders are closely monitoring the news and events as they unfold.
“The value of sound, calming advice, delivered by professionals who are knowledgeable, well-informed and trustworthy is crystal clear and growing by the minute,” comments NAIFA President Cliff F. Wilson, CLU, ChFC, LUTCF. “Now is the time when our industry can rise to the challenge of guiding those millions of individuals and businesses relying on us when faced with uncertain and troubling events.”
Professional insurance agents and financial advisors have a great deal of helpful information at their fingertips, and have access to many resources and tools to effectively assist their clients. Government and regulatory bodies are distributing news and information about the current financial situation, and insurance and financial services companies are providing thoughtful direction regarding specific products. Additionally, media outlets and consumer protection organizations are releasing statements designed to limit confusion and detail the processes and safeguards in place to benefit consumers and the industry.
However, many of these resources are unavailable or quite confusing to the millions of individuals and businesses depending on insurance products and financial services as the foundation of their financial security. For this reason, professional agents and advisors provide crucial services to help consumers weather the recent storm.
Wilson continues, “It is our business to stay abreast of new information as it becomes available, and then share it with our clients in a way that helps calm their fears and anxiety. It is our role, and it’s what we do best. It is the true calling of the professional agent and advisor.”
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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.