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5 min read

NAIFA President and His Client Offer the DOL a Unique Perspective

By NAIFA-Columbus on Dec 28, 2023 8:50:00 AM

INFORMATION PUBLISHED ON AT.NAIFA.ORG

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.

Bryon and Chuck offered a unique perspective when they testified at a DOL public hearing that the Department's latest fiduciary proposal will harm consumers. Unlike any of the other witnesses, Bryon and Chuck have been working together for decades as advisor and client.

Their real-world experience – Bryon was already a seasoned professional when the DOL first imposed its fiduciary rule in 2016 and he saw its impact firsthand – brought authentic voices to the DOL proceeding and complimented the testimony of industry lobbyists.

Real-World Impact

Bryon testified that consumers are best served when they can choose how and from whom they receive financial services. The current DOL proposal would force many advisors to move to a fee-for-service model tailored to higher-income clients. It ignores that some clients are better served by existing models.

Chuck offered his own case as an example. When he began preparing for retirement, he had limited assets and very likely would not have been able to work with Bryon had the DOL proposal been in place.

"By moving forward with this Proposed Rule, the Department is ignoring the negative impact this rule will have on lower- and middle-income savers and the real-world experience that NAIFA members saw firsthand before the 2016 Fiduciary Rule was vacated," Holz testified.

NAIFA, along with the American Council of Life Insurers, initiated a lawsuit challenging the earlier DOL fiduciary rule. A federal appeals court in 2018 vacated that rule. The DOL's current proposal shares many of the flaws of its predecessor.

NAIFA members develop relationships with clients based on trust and results. Even Timothy D. Hauser, the Deputy Assistant Secretary for Program Operations of the DOL's Employee Benefits Security Administration (EBSA), acknowledged the impact of Bryon and Chuck's testimony. "It's one thing for people in the business to testify but it's another for one of your clients to step forward. Thank you."

A Fight We Have to Win

With so much at stake, NAIFA strongly urges the DOL to withdraw its recycled rule. We are working with members of Congress on both sides of the aisle and urging their opposition, as well. We will continue to oppose the DOL proposal and explore all options to preserve consumers' ability to choose from a variety of financial service models.

There are things you can do to help:

 


 
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Topics: #NAIFAProud Legislation & Regulations Standard of Care & Consumer Protection Press Release Federal Advocacy NAIFA-Columbus DOL
3 min read

NAIFA and FSP Boards Unanimously Approve the Associations' Merger

By NAIFA-Columbus on Dec 19, 2023 8:40:59 AM

INFORMATION PUBLISHED ON AT.NAIFA.ORG

NAIFA’s Board of Trustees and the Board of Directors of the Society of Financial Service Professionals have both voted unanimously to approve a merger agreement between the two associations. The votes come after the membership of NAIFA and FSP both voted overwhelmingly in favor of the merger earlier this year.

Three officers from the FSP Board and one from Life Happens, which also has joined the NAIFA enterprise, will serve on NAIFA's 2024 Board of Trustees.

With the mission of “Empowering financial professionals and consumers through world-class advocacy and education,” the unified organization will be known as NAIFA but will encompass a robust professional development wing led by and branded as FSP. 

Members of the combined association will benefit from a broad member benefits portfolio. Resources concerning the merger and how it benefits members are available on NAIFA’s website.


 
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Topics: #NAIFAProud NAIFA-Columbus FSP
5 min read

It's Long-Term Care Awareness Month: Make Sure Your Clients Prepare for Any Eventuality

By NAIFA-Columbus on Nov 7, 2023 9:35:04 AM

INFORMATION PUBLISHED ON AT.NAIFA.ORG

November is National Long-Term Care Awareness Month and it is a great time to bring potential limited and extended care planning needs top-of-mind with your clients. It is important for every comprehensive financial plan to include LTC considerations. So even if LTC insurance is not your primary line of business, Long-Term Care Awareness Month gives you a good opportunity to get clients up to speed.

Fortunately, NAIFA's Limited & Extended Care Planning Center (LECP) offers expert connections and resources on a variety of LTC planning options you can discuss with your clients. LECP kicked off the month early with a special Halloween event, "Don't Be Scared of Long-Term Care." The recorded presentations and presentation slide decks from the event are now available on demand.

Access the Archives

Learn from some of the best in the business on a variety of important topics. 

  • Tom Riekse, Managing Director, LTCI Partners - "Don't Be Afraid of Too Many Choices! Why the Many LCT Insurance Options Are Great for Financial Security Professionals and Their Clients."
  • Jamie Sarno, Vice President of Medicare Supplement & Specialty Health Products, Amerilife - "Resurrecting the Sale"
  • Chalen Jackson, Key Accounts Specialist, Senior Marketing Specialists - "Help Your Clients Avoid Skilled Nursing Purgatory - Mitigating Medicare Coverage Gaps"
  • Patrick Cahill, CRPC, RICP, Head of Strategic Accounts, Coventry - "The Secondary Market for Life Insurance: Uncovering the Hidden Value"
  • Tim Vannoy, CLU, ChFC, CFP, Regional Account Director, Care Solutions, OneAmerica - "Don't Be Scared of Hybrids"
  • Corey Anderson, DIA, President and Founder, DI Geek - "The DI Geek: Don't Be Scared of Disability Insurance"
  • Kevin Sypniewski, President and CEO of AGIS Network - "Large Employer Worksite: Traditional LTC... Dead or Alive?"
  • Cindy Harris, Director of Sales, LifeSecure - "Get Into the Spirit and Talk LTC With Your Clients"
  • Thomas Krause, J.D., Vice President of Sales and Marketing, The Krause Agency - "Leveraging Medicaid-Compliant Annuities in Crisis Long-Term Care Planning"

Another great resource is LECP Executive Director Carroll Golden, CLU, ChFC, LTCP, CASL, FLMI, CLTC, LACP. Her latest book, How Not to Tear Your Family Apart: A Practical Guide to Caregiving and Financial Stability, an Amazon bestseller in three categories, is a story about a family who successfully plans for extended care using a practical three-step process.


 
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Topics: Long-Term Care #NAIFAProud NAIFA-Columbus
4 min read

NAIFA-Columbus Is a Gold Chapter Excellence Award Winner

By NAIFA-Columbus on Oct 11, 2023 2:14:51 PM

NAIFA-Columbus Is a Gold Chapter Excellence Award Winner

The accomplishment recognizes the chapter’s commitment to delivering a quality member experience.

Topics: #NAIFAProud NAIFA-Columbus Gold Chapter Excellence Award Excellence Award NAIFA
3 min read

NAIFA-Columbus September 2023 Membership Breakfast Meeting

By NAIFA-Columbus on Oct 4, 2023 3:06:18 PM

NAIFA-Columbus Members and guests met for a Membership Breakfast Meeting at La Chatelaine French Bakery and Bistro in September. We were joined by Mackensie Ellis, Business Development Manager of GradFin

Topics: NAIFA-Columbus
3 min read

Career Changing Success Pays Dividends in Happiness

By NAIFA-Columbus on Jul 5, 2023 10:10:15 AM

INFORMATION PUBLISHED ON AT.NAIFA.ORG

Scott Blake is a Wealth Management Advisor and Founder at a leading wealth management firm delivering comprehensive planning, investment, and insurance services for individuals, families, and businesses to help them achieve financial success and live rich, rewarding lives. A passionate leader in his community, Scott is a 2022 national winner of Advisor Today’s 4 Under 40 Award and a board member of several organizations in Columbus, Ohio. He is the President of the Columbus chapter of the National Association of Insurance and Financial Advisors (NAIFA) and has an MBA in finance and financial management services from Capital University. 

 

HERE’S A GLIMPSE OF WHAT YOU’LL LEARN: 

  • Scott Blake shares his background and journey into the financial services industry 
  • Tips for succeeding in any business 
  • How Scott leverages lessons from his political career and athletics in financial services
  • The value of having a financial advisor
  • The challenges Scott had to overcome as a wealth management advisor
  • What does the future of his practice look like? 
  • How to get clients as a financial advisor 
  • The importance of delegating tasks 
  • How the pandemic impacted Scott’s practice and how he handled it

IN THIS EPISODE…

Are you looking for financial security? Do you want to be on the right track for retirement?

Scott Blake recommends hiring a financial advisor, an expert who can help you plan and prepare for the future. Having pivoted to the financial services industry after several years in politics, Scott discovered how making sound financial decisions impacted his clients' lives positively. According to him, wealth management services should be accessible to people of different income levels — not limited to high-net-worth individuals. He shares how he's flourishing in this industry, helping his clients achieve financial security.

On this episode of Advisor Today, Chris Gandy and Suzanne Carawan sit down with Scott Blake, a Wealth Management Advisor, to discuss his successful journey in the financial services industry. Scott shares the lessons he learned from his political career and being an athlete that he leverages in the financial service industry, the value of having a financial advisor, the challenge he had to overcome in his business career, and tips for getting clients as a financial advisor.

RESOURCES MENTIONED IN THIS EPISODE:

SPONSOR FOR THIS EPISODE...

This episode is brought to you by the National Association of Insurance and Financial Advisors, or NAIFA, the #1 association for producers in financial services. 

At NAIFA, we enhance professional skills, promote ethical conduct, and advocate for legislative and regulatory environments.

By joining NAIFA, you gain access to a partnership that elevates your performance while providing greater purpose to your professional work. NAIFA members are happier, make more money, and stay in the business longer.

Get in touch with NAIFA and learn more about how to join NAIFA by visiting NAIFA.org.

Topics: Diverse Markets #NAIFAProud Podcast NAIFA-Columbus
3 min read

2023 NAIFA Congressional Conference

By NAIFA-Columbus on May 25, 2023 11:45:26 AM

NAIFA's Congressional Conference is its signature grassroots advocacy eventEach year, we list the names of attendees who pledge to advocate for their clients, communities, and country. 

Topics: Advocacy #NAIFAProud NAIFA-Columbus Grassroots
2 min read

NAIFA-Columbus October 2022 Membership Luncheon

By NAIFA-Columbus on Oct 24, 2022 2:26:32 PM

NAIFA-Columbus Members and guests met for a Membership Luncheon at Brio Polaris Grille. We were joined by John Fitzpatrick ALMI, ACS. John is the Regional Vice President for John Hancock in the Ohio and Upstate NY regions.

Topics: NAIFA-Columbus
1 min read

NAIFA-Ohio 2021 YAT Leader of the Year Award

By NAIFA-Columbus on May 20, 2022 9:30:36 AM

NAIFA-Ohio has selected Daniel Brookman as the 2021 Young Advisor Team (YAT) Leader of the Year recipient. The NAIFA-Ohio YAT Leader of the year award recognizes an advisor’s commitment to NAIFA including service on local and state and committees as well as involvement with state and/or federal legislative efforts; participation in external service work such as charities; and an ability to inspire others.

Topics: YAT Leaders NAIFA-Columbus
2 min read

NAIFA-Columbus April 2022 Membership Luncheon

By NAIFA-Columbus on May 12, 2022 11:29:54 AM

NAIFA-Columbus Members and guests met in April for a Membership Luncheon at Brio Polaris Grille. We were joined by the CEO of Ohio Business Roundtable and former Congressman, Pat Tiberi. To learn more about our speaker, please click here.

Topics: NAIFA-Columbus

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