NAIFA Chapter Profile — NAIFA-Massachusetts

NAIFA-Massachusetts is using advocacy and professional development to enhance the value it provides to its members.

By Ayo Mseka

NAIFA chapters are working hard to deliver a meaningful membership experience to their members. In a recent interview, Josh O’Gara, CLU, ChFC, CFP, President of NAIFA-MA and owner of O’Gara Financial Group, shared some of the chapter’s programs and initiatives.

Advisor Today: Briefly describe NAIFA-Massachusetts and its mission.

Josh O’Gara: We currently have 420 members. NAIFA was formed in Massachusetts, and we have a long history of advocating on behalf of our members to maintain a positive legislative environment for our industry.

In addition to advocacy, as the industry is in a constant state of change, our mission is to deliver a meaningful experience for all our members, which makes them feel like they are part of our community.

AT: What are some of the most recent political advocacy initiatives undertaken by NAIFA-MA?

O’Gara: In January, we had our most important test of our advocacy capabilities in years. With a fiduciary regulation proposed from the Secretary of State, there was no legislative process involved. We had to mobilize all of our advocacy capacity as we worked to help the secretary’s office understand some of the negative ramifications of the new rule.

From meetings with different companies’ advocacy teams, countless calls with our lobbyist, attending industry coalition conference calls, attending hearings at the State House, and calling on clients to testify (we were the only organization that had consumers testify at the hearing), we demonstrated how effective grassroots advocacy efforts can be, and the secretary ultimately made significant changes to the regulation, which made it much more workable.

AT: Describe a few of the programs you offer to enhance your members’ professional-development.

O’Gara: Last year, we began to focus on professional development with a CLTC class that attracted almost 30 attendees. As COVID-19 reared its ugly head, we quickly adapted to continue to provide value to our members. Conveniently, we had brought on a social media specialist in February to manage our social media content. This became a vital communication tool to keep our members updated with everything going on. We instituted board updates every other Monday, with open forum discussions for any member who wants to discuss outstanding issues or concerns. We also began emphasizing online programming.

AT: Describe a few of these online initiatives.

O’Gara: Our most recent effort has been the “Quick Bytes” seminars, which we hold in conjunction with Rhode Island and Connecticut. The seminars have been well attended, typically attracting between 15-20 members. We have also been promoting the NAIFA Town Hall and NAIFA Live events throughout the year.

AT: Because of COVID-19, most meetings and events are now being held virtually. What experiences have you had so far in transitioning to online events?

O’Gara: We have transitioned completely to online events. Most recently, we had Dr. Jerry Teplitz present for our members in June about how to manage these stressful times through neuroplasticity.

AT: Is there anything else you would like readers to know about NAIFA-MA?

O’Gara: One of the things we are most proud of is our new partnership with a non-profit agency called Family Movement. The organization goes into homeless shelters in Boston to help women get back on their feet and on the road to home ownership.

We began a pilot program in January and even through all of the trials of the last few months, we were able to continue the program and wrap up our initial six-month program in June. We partnered with four families in the pilot program, and the hope is to have at least three of them eligible for a down payment assistance program by the end of the year! The goal is to have another five families enroll in the program by October and continue to grow from there.