NAIFA Advocacy Creates a Favorable Business Climate for You

During NAIFA’s Town Hall Meeting that the association hosted to celebrate its 130th anniversary, NAIFA Senior Vice President of Government Relations Diane Boyle shared a NAIFA advocacy update with attendees.

NAIFA’s advocacy teams at the home office and in every state capital can quickly address legislative and regulatory issues whenever and wherever they arise. NAIFA is the only insurance and financial services membership association that advocates on the national, state and interstate levels, she said.

Naifa Advocacy At Work For You

Boyle then gave a quick rundown of some of NAIFA’s advocacy efforts so far this year:

• Before COVID-19 shutdowns, NAIFA CEO Kevin Mayeux, CAE, testified at a Massachusetts hearing on the state’s proposed fiduciary rule for financial professionals that helped reshape the regulation.

• NAIFA gave input to a new NAIC annuity sales model that aligns with the SEC’s Regulation Best Interest and then was instrumental in seeing the model adopted in Arizona and Iowa.

• When the COVID-19 outbreak began impacting the nation, NAIFA worked with the U.S. Department of Homeland Security to ensure that insurance and financial professionals were designated as essential infrastructure workers.

• NAIFA then worked with Congress to advocate on behalf of small businesses as lawmakers considered the COVID-19 economic relief and recovery legislation.

• New Hampshire securities regulators publicly thanked NAIFA for supporting senior-protection measures.

• NAIFA worked with the American Council of Life Insurers (ACLI) to defeat a proposal in Colorado that would have increased taxes on consumers who benefit from annuity products.

Naifa Is The Advocacy Voice Of The Industry

“NAIFA’s advocacy strength is rooted in our geographical diversity,” Boyle said. NAIFA is stronger because there are NAIFA members in every congressional district around the country.

When COVID-19 forced NAIFA to convert its May Congressional Conference into a virtual event this year, some 5,000 financial professionals, including members and non-members from all 50 states, participated. They took part in sessions that showed them how to be better advocates and how to connect with their lawmakers in spite of COVID-19 restrictions.

NAIFA also serves as the advocacy representative for many of its sister organizations, she added. These include the Asian American Insurance and Financial Professionals Association, the Latin American Association of Insurance Agencies, the National Association of Independent Life Brokerage Agencies, the National African American Insurance Association, the Society of Financial Services Professionals and Women in Insurance and Financial Services. “When we go to the Hill, and when we are working at the state level,” Boyle said, “we bring the diversity of these groups with us.”

Members of these associations also have access to NAIFA’s advocacy materials, receive legislative briefings and can participate in events like NAIFA’s Congressional Conference and advocacy webinars.

NAIFA also has a strong advocacy partnership with ACLI, which represents the most influential companies in the industry. NAIFA and ACLI have coordinated for many years on state and federal issues where NAIFA members’ interests overlap with those of ACLI’s members. More recently, the two organizations signed a formal state-advocacy partnership to combine efforts and resources on crucial issues in key states.

WORKING FOR RETIREMENT SAVERS DURING COVID-19

NAIFA urged Congress to give Americans who are financially impacted by the pandemic greater flexibility to access retirement savings without incurring penalties. This became part of early federal COVID19 economic relief legislation.

Now, NAIFA is working with our allies at the Insured Retirement Institute to support IRI’s five-point plan to help workers reverse the harmful impacts COVID-19 has had on their retirement savings. NAIFA has been a part of more than 100 virtual Capitol Hill meetings, Boyle said, to ensure that members of Congress understand how the COVID-19 outbreak has affected people planning for retirement and how legislation is needed to help them in the economic recovery.

NAIFA’s advocacy is only as strong as its members, Boyle said. They are the ones who ensure we represent every congressional district and provide the Main Street USA voice for our industry.

Advocacy provides numerous opportunities for NAIFA members to get involved and make a difference, Boyle added. They can be a part of NAIFA’s grassroots army, become a key contact for a state or federal lawmaker, or contribute to NAIFA’s political action committee.

If you would like to get involved in NAIFA’s advocacy efforts, please visit www.naifa.org/advocate.

Get Involved in NAIFA Advocacy

Building relationships with elected officials is vital to our success.

For 130 years, NAIFA has built a reputation as the premier advocacy association for insurance and financial advisors in Washington, D.C., and in all 50 states. This is because of members who go above and beyond the call of duty to engage in advocacy. Now, more than ever, NAIFA needs you to get involved and stay involved.

NAIFA has members in every congressional district in the country, and many of them have taken the time to get to know their elected officials and advocate on behalf of the financial services industry. These dedicated members have established trust with their representatives, and that trust is extremely important for influencing positive policy outcomes.

These relationships constitute the cornerstone of our advocacy strategy. Every day, elected officials make decisions that impact millions of lives. As a result, elected officials are constantly meeting with lobbyists, interest groups, constituents — you name it.

However, of all the people our representatives meet with, constituents are by far the most influential, and it is for this reason that NAIFA is so successful.

While lobbyists are skilled in influencing our desired policy outcomes, arranging a meeting with knowledgeable, trustworthy constituents to get representatives to see our side of the issues is a proven method for bringing wavering representatives to our side.

Building a relationship with an elected official is much like building a relationship with a prospective client — it requires work, but there are benefits, both professional and personal, that come from putting the time in.

Spending some time on NAIFA advocacy is fun, engaging and rewarding. So, if you would like to start getting to know your representatives or if you already have a relationship, please visit the Advocacy Action Center at naifa.org/advocate.