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Advocacy in action blog

1 min read

NAIFA's CEO Kevin Mayeux Responds to DOL's Final Independent Contractor Rule

By NAIFA on 1/9/24 4:49 PM

ARLINGTON, VA -- The U.S. Department of Labor released its final independent contractor rule today, aimed at defining whether an individual is an employee or an independent contractor under the Fair Labor Standards Act. The rule could threaten the classification of many financial advisors from coast to coast and cause a reduction in the number of advisors serving American consumers.

Topics: Legislation & Regulations Press Release DOL
2 min read

NAIFA Comments Point to Flaws in the DOL’s Fiduciary-Only Proposal

By NAIFA on 1/2/24 1:31 PM

NAIFA members are committed to working in the best interests of the consumers they serve. They follow a Code of Ethics requiring them to put clients’ interests first. Yet, the Department of Labor’s rehashed fiduciary-only proposal is decidedly not in the best interests of the American public who benefit from the ability to choose how and from whom they receive financial guidance.

Topics: Standard of Care & Consumer Protection DOL Regulation Best Interest
3 min read

NAIFA Survey Shows the DOL’s Fiduciary Proposal Will Increase Costs and Reduce Access to Retirement Planning Services

By NAIFA on 12/19/23 1:55 PM

NAIFA conducted a survey of more than 1,000 members between November 27 and December 1, 2023, to gauge the potential effects of the U.S. Department of Labor’s proposed “Retirement Security Rule: Definition of an Investment Advice Fiduciary” on the consumers who rely on financial professionals for retirement products, services, and advice.

Topics: Retirement Planning Legislation & Regulations Standard of Care & Consumer Protection Press Release DOL
3 min read

NAIFA President and His Client Offer the DOL a Unique Perspective

By NAIFA on 12/12/23 12:04 PM

The Department of Labor thinks it knows what's best for Americans preparing for retirement. NAIFA President Bryon Holz, CLU, ChFC, LUTCF, CASL, LACP, and his long-time client Chuck Ross think the DOL is wrong and bring their real-life experience to the argument.

Topics: Legislation & Regulations Standard of Care & Consumer Protection Federal Advocacy DOL
2 min read

NAIFA Asks, Members of Congress Act

By NAIFA on 12/8/23 2:28 PM

Just two days after NAIFA members were on the Hill, House Committee on Small Business Chairman Roger Williams (R-TX), Rep. Dan Meuser (R-PA), Rep. Mark Alford (R-MO), and Rep. Aaron Bean (R-FL) wrote to Department of Labor Acting Secretary Julie SU inquiring about the impact of the DOL proposal on small businesses. 

Topics: Standard of Care & Consumer Protection Grassroots DOL Regulation Best Interest
2 min read

NAIFA Opposes NASAA Proposal That Would Conflict With Reg BI

By NAIFA on 12/7/23 10:49 AM

Proposed changes to the North American Securities Administrators Association's (NASAA's) Model Rule on Dishonest and Unethical Business Practices of Broker-Dealers and Agents would conflict with existing, effective consumer-protection regulations and cause unintended harm to investors. NAIFA urges NASAA to reconsider the proposed revisions. 

Topics: Standard of Care & Consumer Protection Interstate Advocacy DOL NAIC NCOIL NASAA
2 min read

NAIFA Members Advocate for Access to Financial Service Professionals

By NAIFA on 12/5/23 3:53 PM

More than 250 NAIFA members took to Capitol Hill today to meet with over 200 Congressional offices to advance the need to protect the worker classification of financial service professionals as independent contractors and to provide consumers a variety of choices in financial service professionals. The Day on the Hill was coupled with NAIFA’s National Leadership Conference which serves to train the leaders of state and local chapters in grassroots advocacy.

Topics: Federal Advocacy Grassroots DOL
1 min read

Tell Your Members of Congress How the DOL's Proposed Fiduciary Rule Would Impact Your Clients

By NAIFA on 11/10/23 4:14 PM

The Department of Labor has proposed a fiduciary-only rule that would limit the choices consumers have when seeking investment and retirement-planning advice and could make it difficult for low- and middle-income investors to receive services and advice. 

Topics: Legislation & Regulations Standard of Care & Consumer Protection Federal Advocacy DOL
1 min read

DOL Fiduciary Rule Comment Period Sends the Wrong Message

By NAIFA on 11/8/23 2:57 PM


Topics: Legislation & Regulations Standard of Care & Consumer Protection DOL
2 min read

NAIFA Supports NAIC Statement on DOL Proposal

By NAIFA on 11/2/23 9:35 AM

NAIFA has strong advocacy relationships with interstate organizations like the National Association of Insurance Commissioners (NAIC), National Council of Insurance Legislators (NCOIL), and North American Securities Administrators Association (NASAA). We attend their meetings, provide input through comments and testimony, and work with them on resolutions and model regulations that impact consumers and the insurance and financial services industry. 

Topics: Standard of Care & Consumer Protection Interstate Advocacy NAIC Model Regulation Federal Advocacy DOL NAIC