Advocacy in action blog

NAIFA has not been sitting idle as the Department of Labor made moves to propose a new fiduciary rule. In anticipation of the rulemaking, NAIFA helped the National Conference of Insurance Legislators (NCOIL) draft a resolution that opposes the DOL's new fiduciary rule as unnecessary and likely harmful to consumers. The resolution, which NCOIL adopted in July after NAIFA testified at the Conference's 2023 Summer Meeting, states: "NCOIL urges the DOL to refrain from further rulemaking that would revive all or parts of the 2016 Fiduciary Rule" and "...urges state legislators and other interested stakeholders to join in opposition to any further rulemaking by DOL reviving the 2016 Fiduciary Rule."

On August 18, 1966, NAIFA formed the Insurance and Financial Advisors Political Action Committee (IFAPAC) as a nonprofit, nonpartisan organization. Then known as LUPAC, it was created "to engage in voter registration and get-out-the-vote campaigns, compile voting records of individual members of Congress, and implement nonpartisan courses designed to stimulate citizen involvement in politics," according to NAIFA's magazine at the time. The PAC also solicited "contributions to aid selected Congressional candidates," the publication said.

“I alone cannot change the world, but I can cast a stone across the waters to create many ripples.” 
- Mother Teresa. 

On August 3rd, NAIFA-Utah held its annual Legislative Engagement Day in Salt Lake. The fact that we were able to count on all four of our U.S. Congressional representatives to participate made for a successful and informative meeting. Dori Phillips, our NAIFA-Utah VP of Advocacy and our Grassroots Chair representative, did a superb job of coordinating schedules so that each could address us. While their broad message focused on the state of the nation, each had a unique approach and shared stories of their own path and experience in working with financial professionals.

The Fourth of July, naturally, celebrates our nation’s independence declared in 1776, won through the struggle and sacrifice of the American Revolution, and maintained by generations of Americans throughout the history of the United States. NAIFA joins in this celebration of our country and the freedoms we all enjoy.

NAIFA’s 10^th annual Congressional Conference was an overwhelming success, demonstrating that NAIFA is the One and Only when it comes to our unmatched advocacy influence. More than 500 insurance and financial advisors from all over the United States gathered in Washington, D.C., to receive policy briefings and grassroots advocacy instruction, hear words of encouragement from distinguished guests, and take NAIFA's advocacy message directly to their elected officials on Capitol Hill.

NAIFA recognizes Senator Tim Scott of South Carolina on the announcement of his campaign to run for President of the United States. Scott is a former NAIFA member and prior to serving in Congress was an insurance and financial services professional who built one of the most successful Allstate agencies in South Carolina.

An important tax deduction for many individual- and family-owned businesses –  Section 199A of the Tax Cuts and Jobs Act – is set to expire in just two years. NAIFA strongly supports legislation sponsored by Senator Steve Daines (R-MT) that would make permanent the 20% deduction for pass-through businesses.

NAIFA will host the 10^th annual Congressional Conference May 22-23 in Washington, D.C. The event will feature targeted advocacy training with briefings on legislative issues that affect members’ businesses and the clients they serve. Expert presenters will offer best practices for conducting Congressional meetings and tips for developing impactful long-term relationships with legislators.

NAIFA strongly supports efforts to prevent the financial exploitation of seniors and vulnerable adults. As trusted and licensed insurance and financial professionals who abide by a Code of Ethics and work in the best interests of their clients, NAIFA members are often ideally positioned to recognize and help prevent financial abuse and exploitation.

The Centers for Medicare and Medicaid Services (CMS) has published its final marketing rule for Medicare Advantage (MA) and Medicare Part D (Part D) plans. Below you can read about key changes that will most impact NAIFA members, as well as some of NAIFA’s concerns that were addressed by CMS.