NAIFA's Advisor Today Summer 2021 Edition

THE DOG DAYS OF SUMMER

Pets, and more specifically dogs, have become a staple in the insurance and finance world, both as a new sphere to sell products and as a way to comfort distressed clients. Read more about Seamus, VP of Greetings & Emotional Support, a pet so integral to Drew Shumski’s practice that he made him a full NAIFA member.

naifa Leadership

NAIFA CHAPTER PROFILE

NAIFA-New York

While NAIFA’s New York chapter has been an important part of the national association since 1919, it was recently reborn with new leadership and a new commitment to serving its membership and engaging with NAIFA Nation.

New leadership for 2021 — President Gary Cappon, CLU, LUTCF, RICP, FSCP, CLTC, (loyal member since 2006); President Elect Vinny Dallo, ChFC, CLU, CLTC, LUTCF, (loyal member since 2005); Past President Peter C. Browne, LUTCF, (loyal member since 1965); Treasurer Robert Miller, MA, MS, (loyal member since 1983); VP of Government Relations Paul Sciacca, (loyal member since 2009); VP of Professional Development Mitchell Ostrove, CLU, ChFC, AEP, (loyal member since 1965); and VP of Membership Neil Himmelstein, (loyal member since 1997)

NAIFA’s Advisor Today

NAIFA Kevin Mayeux, CAE CEO kmayeux@naifa.org

703-770-8101

Michael Gerber

COO & General Counsel mgerber@naifa.org

703-770-8190

Diane Boyle

SVP, Government Relations dboyle@naifa.org

703-770-8252

John Boyle, CAE

VP, Professional Credentials jboyle@naifa.org

703-770-8267

Suzanne Carawan VP, Marketing & Communications scarawan@naifa.org

703-770-8402

Judi Carsrud

AVP, Government Relations

703-770-8155 jcarsrud@naifa.org

Jennifer Cassidy VP, Finance jcassidy@naifa.org

703-770-8125

Alaina Faiello

VP, Professional Development afaiello@naifa.org

703-770-8225

Corey Mathews, CAE VP, Member & Chapter Services cmathews@naifa.org

703-770-8404

Phu Ngo VP, Technology pngo@naifa.org

703-770-8130

— are providing bold direction for the chapter.

Through Cappon’s leadership, the NAIFA-NY Board has rejuvenated NAIFA-NY’s volunteer committees, giving members a tangible stake in the chapter’s success and opportunities to serve their profession. NAIFA-NY’s spirit of volunteerism is exemplified by Sciacca, a Financial Services Professional with New York Life who chairs the Government Relations Committee and Himmelstein of Main Street Planning Group who is working overtime to introduce NAIFA into new organizations and increase brand awareness.

Advocacy is at the forefront of the chapter’s rejuvenation. A new partnership with the Life Insurance Council of New York, Inc. (LICONY) strengthens collaboration on issues

President Thomas O. Michel, LACP Michel Financial Group tmichel@michelfinancial.com

President-Elect Lawrence Holzberg, LUTCF, LACP Fortis Lux Financial lholzberg@fortislux.com

Secretary Bryon Holz, CLU, ChFC, LUTCF, CASL, LACP Bryon Holz & Associates bryon@bryonholz.com

Treasurer Brock Jolly, CFP, CLU, ChFC, CLTC, CASL, RICP Veritas Financial LLC bjolly@vfwealth.com

Immediate Past President Cammie Scott, LUTCF, REBC, RHU, CLTC, ChHC, MSIE, SHRM-SCP, SPHR CK Harp & Associates cammiescott@ckharp.com

NAIFA CEO Kevin Mayeux, CAE kmayeux@naifa.org

Trustees Mark Acre, LUTCF mark.acre@onesourcegroup.net

Wes Booker, LUTCF wes.booker@horacemann.com

Dennis Cuccinelli, LACP dennis@dcuccinelli.com

Christopher Gandy, LACP cgandy@midwestlegacyllc.com

Aprilyn Chavez Geissler, LACP aprilyngeissler@gmail.com

Evelyn Gellar, LUTCF, RICP, CDFA, CLTC egellarwifs@gmail.com

Connie Golleher, CLTC, LUTCF connie@gollehergroup.com

Win Havir, CPCU, CLF, LUTCF, FSS, AIC, LACP Winona.havir@horacemann.com

important to producers and consumers. The chapter hired Greenberg Traurig, a global law firm with offices in Albany and New York City, to represent the advocacy interests of NAIFA-NY with state legislators and regulators. Their work complements a reinvigorated grassroots network.

There’s excitement in the air from Manhattan to Syracuse and from Albany to Buffalo, with long-time members becoming reengaged and new ones joining the NAIFA family. Things are looking up across the Empire State.

Doug Massey, CLU, ChFC, FSS doug@dougmassey.com

Steven Saladino, LUTCF, LACP saladino@verizon.net

John Wheeler, Jr., CFP, CLU, ChFC, CRPC, LUTCF, LACP jwwcfp@aol.com

Brian Wilson brian.wilson@mutualofomaha.com

NAIFA SERVICE CORPORATION

OFFICERS AND DIRECTORS

President Kevin Mayeux, CAE

Secretary Thomas O. Michel, LACP Michel Financial Group

Treasurer Brock Jolly, CFP, CLU, ChFC, CLTC, CASL, RICP Veritas Financial LLC

Directors

David Beaty, IAR, ChFC, CLU, LUTCF, LACP Heartland Financial Services, Ltd.

Susan Wier, CFP, ChFC, RCP First American Trust

EDITORIAL ADVISORY COUNCIL

Laurie A. Adams, CFP, CLU, LACP, LUTCF Country Insurance & Financial Services

Brian Ashe, CLU

Brian Ashe and Associates, Ltd.

Frank Bearden, Ph.D., CLU, ChFC

Frank C. Bearden, Ph.D., Consulting

Lisa Horowitz, CLU, ChFC

LifeCycles

Ike Trotter, CLU, CASL, ChFC

Ike Trotter Agency, LLC

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NAIFA’s Advisor Today (ISSN 1529-823X) is published triannually by the National Association of Insurance and Financial Advisors Service Corporation, 2901 Telestar Court, Falls Church, VA 220421205. Telephone: 703-770-8100. ©2021 National Association of Insurance and Financial Advisors Service Corporation. All rights reserved. Periodicals Posted Paid at Falls Church, VA 22042, and at additional mailing offices.

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PRESIDENTS’

How is NAIFA Leading the Charge in Having the Most Educated Advisors in the Industry?

From the Past President

By Cammie Scott, MSIE, ChHC, CLTC, LUTCF, REBC, RHU, SHRM-SCP, SPHR

Our new NAIFA Nation structure led to the creation of NAIFA Live — the monthly meeting for all NAIFA members. It brings a top speaker focused on continuously elevating our performance so that NAIFA members are the best in the business. Monthly meetings are often called the “secret sauce” of NAIFA because of the speakers, the networking and the camaraderie. NAIFA Live takes it to a new level by eliminating geographic limitations and ensuring everyone hears a top speaker each month. Hundreds of members participate in real-time, and hundreds more watch on-demand. If you aren’t tuning into NAIFA Live each month, you absolutely should! It’s one of the best parts of your NAIFA membership and a must for all of us who love finding new ways to up our game.

PERSPECTIVES A Mark of Professionalism

From the President

By Thomas O. Michel, LACP

We educate advisors on advocacy, and we teach them how to advocate for their business. What makes NAIFA’s advocacy unique is that we understand it’s not just a once-a-year effort, but like any business relationship, is ongoing. NAIFA’s advocacy is truly grassroots. Policymakers know their NAIFA contacts’ advice ensures their decisions are based on qualified input. This trust results from our unique-to-theindustry grassroots advocacy training. It’s part of our integrated advocacy program, which also ensures NAIFA members are briefed on important issues through our GovTalk newsletter and receive updated materials and talking points on federal and state issues. Our well-trained and informed advocates meet policymakers on Capitol Hill, in statehouses and in-district, enhancing our relationships.

From the

President-Elect

By Lawrence Holzberg, LUTCF, LACP

We’re not just improving — we’re overhauling. Between the vote to restructure NAIFA and COVID-19, we’ve reworked every program, product and service. Performance+Purpose is no exception. We’ve recreated the conference to exclusively offer professional development. All membership activities — from voting to business meetings to awards — are bundled into a new National Leadership Conference that will occur in-person in Washington, D.C., in December. This year’s P+P, while virtual, offers practical sessions led by experts to help advisors improve their practices, build their books of business and better serve clients. A new P+P platform provides an interactive experience, allowing us to do what we do best — get together and learn from one another.

Top companies see the value of NAIFA’s LACP certification.

By NAIFA CEO Kevin Mayeux, CAE

Membership in NAIFA shows colleagues and clients that you are committed to being the best you can be in your business. It shows a dedication to professional development and success.

NAIFA’s Life and Annuity Certified Professional (LACP) certification recognizes the need for NAIFA members to further differentiate themselves. The LACP is a fully accredited certification that shows consumers and colleagues an agent or advisor has solid experience and understanding of life insurance and annuity products.

It’s a mark of professionalism held by many leading insurance and financial advisors, including NAIFA President Tom Michel, LACP, (loyal member since 1986), President Elect Lawrence Holzberg, LACP, LUTCF, (loyal member since 1990), and eight other members of the NAIFA Board of Trustees.

Every LACP recipient adheres to NAIFA’s Code of Ethics, including the requirement to put their clients’ interests first. The LACP is one of only nine accredited certifications recognized by FINRA.

An impressive group of companies and broker dealers has specifically approved the LACP for use by producers they work with. These include: American National Insurance Company, Ameritas, Cambridge Investment Research, Cetera Financial Group, Country Financial, Guardian, Kansas City Life, Lincoln Financial, LPL Financial, MassMutual, Nationwide, New York Life, OneAmerica, Principal Financial, Prudential, Security Mutual Life Insurance Company of NY, State Farm, The Advisor Group (including FSC Securities, Royal Alliance, SagePoint, Securities America, and Woodbury Financial), The Leaders Group, and Western & Southern.

The LACP has gained the recognition of the leading professionals and companies in the business as well as consumers. See page 14 to learn more.

The Dog Days of Summer

By Suzanne Carawan

The phrase “dog days of summer” originated with the Greeks and was then taken up by the Romans to illustrate the rising of the star Sirius in the heavens, but it has taken on various meanings over the years. We typically think of a time when it’s so hot that dogs will lie still only to rise to get water. We also associate this time of year with summer reading and perhaps, summer school — an opportunity to catch up on your learning or get ahead of the competition while the world slows down for a few months.

With COVID-19, the dog days of summer took on a very literal and very real meaning. After the initial shock of the shutdown, many advisors began to come back into the office to work or set up a new workspace at home. With our “only us in the office” or new “work-fromhome” (officially abbreviated to WFH and universally understood thanks to COVID-19) situation, our work and home lives became intensely integrated. With our new forced workstyle, the kids, the spouse or partner, the Amazon Prime or food delivery person, and yes — the dogs — became part of our and our colleagues or clients’ everyday work experience.

While “bringing your dog to work” is not a new concept, the actual practice was largely relegated to hipster tech and creative companies — certainly not a norm in the traditional, buttoned-up financial services industry. However, COVID-19 changed all of that, and financial advisors found themselves in a new normal of informality that had everyone laughing about the length of their hair and what was the right attire to convey professionalism on a client Zoom call while kids and dogs are running

through the room behind you. We all can agree that COVID-19 forced financial services to speed up their adoption of modern technology — from Zoom to e-signatures to accelerated underwriting utilizing artificial intelligence. But can we agree that one of the long-term effects of COVID-19 is that it perhaps further humanized the relationship between advisor and client?

And ironically, while Zoom allowed advisors to do more meetings and get more people coverage at a critical time in our history, the unspoken heroes in how we conduct business are quite possibly our dogs. As more advisors brought their dogs to work or were working from home with their dogs, or decided to adopt a dog, dogs became part of not just the conversation, but a critical element in client care.

According to the American Pet Products Association, 63.4 million households own a dog. When you think about how easy it is to get dog owners to talk about their dogs, you start to understand that dogs are a whole different angle to use to build trust so that you can ask hard questions.

Drew Shumski (loyal member since 1988) began bringing his Wheaten Terrier named Seamus into the office and started to notice the difference in the quality of his meetings when his dog was present. “First, I realized that Seamus is a great indicator of whether a prospective client will buy life insurance or not. Dog owners naturally reach out to pet Seamus, which already tells me that they care about others and value investing in those that they love. Seamus allowed me a natural way to set prospects at ease and talk about planning for life’s unexpected events.”

Another positive externality of having his dog in the office came with caring for clients. Shumski’s practice works with

both special needs children and seniors who are facing complex emotional and financial family situations. “What I noticed is that my clients would start petting Seamus while they talked about their fears and challenges. Seamus became much more than a greeter; he became a critical part of the meeting in providing clients a tangible touch therapy to tackle the tough topics.” In fact, Seamus was folded into the organizational chart taking on the title of VP of Greetings & Emotional Support along with becoming a NAIFA member in 2020.

Petting a dog is known to decrease the level of stress hormones, regulate breathing and lower blood pressure. Research shows that petting releases oxytocin, the “bonding” hormone associated with making long-lasting connections. Is it any wonder that dog adoption rose 30% in 2020, according to the Insurance Research Council? And with the average lifespan of a dog ranging from 10-13 years, dogs are not just an

Photos provided by Drew Shumski.

emotional investment, they are also a financial investment too.

Undoubtedly, COVID-19 brought the questions of health, mortality and legacy planning to the forefront of all of our minds. Many advisors found themselves writing more business in 2020 than ever before, but what’s also interesting is that the type of insurance — and who is insured — is also expanding. Fur babies are increasingly becoming part of the family equation with the same needs — healthcare, estate planning, and legacy planning products and services popping up in the market. If you are concerned with who inherits the family piano, imagine how you feel about what will happen to your beloved dog.

The pet care industry is booming. Up 6.1% from 2020 to 2021 to now stand at $232 billion, it’s expected to grow to $350 billion by 2027. According to the National Pet Health Insurance Association

and cited in the Insurance Information Institute’s pet insurance debrief, the pet health insurance sector has posted gross written premiums of $1.99 billion in 2020, up 20.75% from $1.56 billion in 2019. By the end of 2020, it was estimated that 3.1 million pets were insured, with dogs representing 83% of in-force gross written premiums.

comprehensive and as the lines between health and life insurance become

increasingly blurry, the definition of family and dependents seems likely to also expand to be more inclusive of our furry friends. We believe we can safely say that the new normal is having dogs in our workplace and how we incorporate dogs into our work will continue to expand. Dogs may not be able to pick the next hot stock, but they certainly can be useful in prospecting and expanding our book of business through the incorporation of new product lines.

“caregiving”

As the lines between health and life insurance become increasingly blurry, the definition of family & dependents seems likely to expand to be more

NAIFA’s Advocacy Message Comes Through Loud and Clear

From activating the 1,350 insurance and financial advisors who attended NAIFA’s 2021 Virtual Congressional Conference to providing expert testimony to the NAIC to holding virtual legislative days with state lawmakers, NAIFA’s advocacy work is helping to shape the laws and regulations that impact your business and clients.

By Mark Briscoe

Federal

NAIFA’s annual Congressional Conference is the premier grassroots advocacy event for insurance and financial professionals. The highlight of the event each May is when NAIFA members and guests fill the halls of congressional office buildings and attend meetings with their elected officials.

This year, the COVID-19 pandemic and restrictions at the U.S. Capitol required the Congressional Conference to be a 100% virtual event. NAIFA’s Government Relations Team and other experts provided policy briefings on legislation — like the PRO Act, the SECURE Act 2.0 and proposed tax law changes — important to NAIFA members and their clients. Presenters offered tips and best practices for having successful meetings with lawmakers and their staff and for developing long-term relationships with elected officials.

Sen. Tim Scott (R-SC), Rep. Stephanie Murphy (D-FL) and Rep. Darin LaHood (R-IL) shared messages of support and encouragement with NAIFA members and the other insurance and financial professionals in attendance.

And while our grassroots advocates could not actually set foot in Capitol Hill offices this year, we certainly made an impact. Congressional Conference attendees held 100 virtual meetings with U.S. Senators and their staff. NAIFA members shared their personal stories and those of their clients. These are stories no one else can tell that vividly illustrate the vital work insurance and financial professionals do in diverse communities across the United States.

Because of the Congressional Conference and NAIFA members’ personal advocacy work throughout the year, Senators and Representatives in Washington, D.C., know how NAIFA members can help a family in Poughkeepsie, New York, cope with an unexpected loss; work with a business owner in Beaumont, Texas, to provide an employee retirement plan; or help an

entrepreneur in Davis, California, assess her long-term care needs.

More than 1,300 registered participants made NAIFA’s 2021 Virtual Congressional Conference an undeniable success. And while NAIFA members look forward to a return to face-to-face meetings with their lawmakers, this year’s event has shown how technology and remote meetings can make NAIFA’s advocacy more powerful than ever and even more accessible.

“At the end of the day, the most important thing is making sure our message is heard,” said NAIFA President Tom Michel. “Whether it involves a handshake or a Zoom meeting, you can be sure that NAIFA will be connecting with our policymakers so laws and regulations provide the best possible outcomes for insurance and financial professionals and the consumers who depend on us.”

NAIFA’s Virtual Congressional Conference included Zoom meetings with lawmakers.

Take Action

NAIFA remains actively engaged with groups like the National Association of Insurance Commissioners (NAIC) and National Council of Insurance Legislators (NCOIL), participating in their meetings and working groups. This gives us a seat at the table when these organizations create model regulations and legislation (like the NAIC model for annuity transactions) that become the basis for policy in multiple states.

Most recently, NAIFA Trustee Christopher Gandy, LACP, (loyal member since 2003), Founder of the

Interstate State

Should state governments compete with a robust private market for retirement products and services by creating staterun plans that lack personal guidance and ERISA protections? Should the states pass a mishmash of laws and regulations on annuity sales rather than adopting the NAIC model that preserves producers’ time-tested business models and protects the best interests of consumers?

According to NAIFA, the answers are clear: No and no!

These are just two state-level issues NAIFA chapters are working on to protect the businesses of NAIFA members and the interests of consumers who look to insurance and financial advisors for products, services and advice.

Midwest Legacy Group (OneAmerica), testified at a meeting of the NAIC’s Special Committee on Race and Insurance about the need for insurance and financial products and services, as well as financial literacy education, in diverse communities. He discussed the industry’s need for greater diversity in the ranks of insurance and financial services professionals to reach underserved communities.

NAIFA has pledged to work with the special committee on research and analysis related to insurance access and affordability issues and the development of consumer education and outreach materials.

NAIFA’s Advocacy Action Center is an online hub of advocacy information and tools. Through the Center, NAIFA advocates can:

• Join their voices with thousands of other NAIFA members as IFAPAC contributors to support candidates for state and federal office who understand the value advisors play in securing America’s financial future.

• Contact their federal legislators on issues important to the industry.

• Sign up to be a grassroots contact for their legislators and join NAIFA’s advocate network.

• Learn more about the federal and state bills being monitored by the NAIFA Government Relations Team, as well as those requiring action.

• Report relationships with state and federal elected officials. Access the Advocacy Action Center. Educate yourself by reading the monthly members-only GovTalk newsletter. Stay informed by the content posted to NAIFA’s Advocacy in Action blog. Visit advocy.naifa.org.

No one does state advocacy like NAIFA. With politically involved members in every state and more than 87% of state legislative districts, NAIFA’s influence extends to every statehouse, insurance and securities department, and governor’s office around the country.

Despite COVID-19, more than a dozen state chapters held either virtual or in-person legislative events earlier this year. They spoke with a unified voice to lawmakers and regulators about the issues important in their states.

NAIFA members also contributed as experts, often invited by lawmakers or regulators, to more than a dozen legislative or regulatory hearings.

They testified, for example, on a state-run retirement proposal in Virginia, insurance rate-setting rules in Montana, and annuity best interest proposals in Idaho, Nebraska, North Dakota and Texas.

NAIFA continues to work with our advocacy partners at the American Council of Life Insurers to encourage states to adopt the NAIC model on annuity transactions. Our efforts have thus far been successful in at least 15 states, and others have proposals pending.

When state-level policy decisions affect your business and clients, you can rest assured that your NAIFA state chapter ensures your voice is heard.

“While NAIFA members look forward to a return to face-to-face meetings with their lawmakers, this year’s event has shown how technology and remote meetings can make NAIFA’s advocacy more powerful than ever and even more accessible.”

We Asked the Experts: Why is NAIFA Live the secret sauce to elevating your professional performance?

ANSWER #1:

NAIFA members, by our nature, tend to be life-long learners. NAIFA Live is a great education resource available to help us hone our skills and increase our knowledge. There’s nothing more convenient than being able to attend a monthly national meeting with my fellow financial professionals from the comfort of my own home or office. And if I miss a session or simply want to review, it’s great knowing that the archive is available for on-demand viewing at my convenience. The video library has presentations that are evergreen, offering information, tips, advice and best practices any NAIFA member is sure to find valuable.

Mark Acre, LUTCF, President, OneSource Insurance Group, (Loyal member since 2009)

ANSWER #2:

The quality of the main-stage NAIFA Live speakers coming to us once a month is extraordinary and extremely valuable! As a program accessible across NAIFA Nation, NAIFA Live can offer a broad range of speakers we might not have access to if the program was solely offered by our state chapter, NAIFA-Minnesota. The presentations offer useful information from top experts who have succeeded in the industry to help insurance and financial professionals at any stage and any practice specialty elevate their business. Minnesota is plugging into NAIFA Live!

Drew DeWitt, LACP, Account Executive, Hallett Financial Group, (Loyal member since 2011)

ANSWER #3:

Whether it’s marketing yourself, connecting with clients or growing your practice, NAIFA Live provides NAIFA members top-notch presentations by many of the leading experts and thought leaders in the insurance and financial services industry. These online meetings are for NAIFA members only, so they really do offer a tangible advantage. Everyone has missed the ability to get together with our NAIFA colleagues during the pandemic, but NAIFA Live has helped to shrink the gap. The breakout sessions are a great opportunity to connect with other professionals and build on the lessons offered by the expert presenters. They also allow us to connect with friends we haven’t seen for a while. I would encourage every NAIFA member to take advantage of this benefit.

Stephen Good, LUTCF, CLTC, CFBS, Director of Business Development, MassMutual, (Loyal member since 2003)

ANSWER #4:

As a financial advisor, business owner and LILI graduate, I know that it is important to continue to learn and develop my expertise so I can grow the practice and, most importantly, better serve my clients. NAIFA Live gives me the ability to do this from the convenience of my home or office. I can also go back and re-watch those presenters that I was not able to view live. Additionally, I have enjoyed the small group breakout sessions after the presenters to meet other members from across the country. During the pandemic, I missed the fellowship of meeting in person. NAIFA Live gave me that outlet to connect with other advisors and have meaningful discussions with their points of view. I wish more members would join the discussions and gain from these top-notch presenters that are being brought to us.

2011)

Kathleen E. Owings, LACP, Principal and Financial Advisor, Westbilt Financial Group, (Loyal member since

ANSWER #5:

Tuning in to NAIFA Live exposes me to content that is not otherwise available through traditional professional development resources. NAIFA Live presenters consistently provide a good mix of actionable ideas related to marketing, practice management, productivity and business building while also sprinkling in some practical life tips along the way.

While NAIFA Live was present pre-COVID-19, its relevance was enhanced when we all found ourselves looking for content from our living rooms and kitchen tables. As I look forward to life returning to some sense of normalcy, NAIFA Live has a permanent place in my development due to the ease of plugging into quality speakers. Additionally, the on-demand sessions allow me to re-watch programming that was of particular interest, or if I couldn’t tune into the Live session!

Robert T. Landgraf, CFP, Director, RSM Wealth Management, (Loyal member since 2009)

ANSWER #6:

For me, NAIFA Live is about connecting with my professional association and learning along with my NAIFA family. The information offered by the speakers is great for anyone looking to grow their business or build on their professional success. And who isn’t looking to grow their business and/or build on their success? The best insurance and financial professionals in the United States are NAIFA members, and NAIFA Live gives us the opportunity once a month to come together, enjoy each other’s company and learn to be even better professionals.

John D. Richardson, RICP, LACP, Partner, Boundbrook Advisors (Loyal member since 2003)

In just one NAIFA Live, I got a new idea and made a new connection that turned into $60K a year in premium.

-Mark Acre

National Quality Awards Are the Hallmark for Outstanding Client Care

By Ike Trotter, CLU, RICP, ChFC, and Suzanne Carawan

The National Quality Awards were created and launched in 1945 as the National Quality Awards of the National Association of Life Underwriters (NALU, which was the name prior to NAIFA). At its inception, the award was focused on recognizing outstanding performance for life insurance agents, but over the decades, the meaning and scope of the award has been expanded. Regardless of year, the award has always delivered on its pledge to focus on quality of care and not merely annual production of the agent or advisor. The award has been further refined over the years to identify individuals who practice the NAIFA way — adhering to the highest of ethics and providing quality care to both their clients and communities in which they work.

During the 1980s, the award was expanded to have practice categories and now offers National Quality Awards for those advisors who have multiline, financial advising, health, and employee benefits practices, in addition to life insurance. Several key members have supported the evolution of the awards program, including Ike Trotter, CLU, RICP, ChFC (NAIFA-MS and loyal member since 1976) who advances the financial advising practice area, and Matt Tassey who has been instrumental in structuring the health and employee benefits category.

In 2019, work was again undertaken to refresh the award program largely driven by the passion of Trotter, who believes that NQA should be seen as a “Good Housekeeping Seal of Approval” for advisors. Trotter’s passion for the project led him to work with National staff to form a working group to transform the

program to being open to agencies that want to recognize their individual agents and companies that want to recognize their advisors. Additionally, NQA underwent a brand refresh as part of the 2020 roll-out of the new unified NAIFA brand. The updated logo, refreshed website, and application process, as

Photo provided by Ike Trotter.

well as directory of award winners was released in 2020.

“While we overhauled the program and released a fresh new approach to NQA, the timing was less than ideal,” stated Suzanne Carawan, VP Marketing & Communications of NAIFA. “Our members were focused on their main priority — serving their clients during COVID-19 and likely missed the opportunity to get recognized for their outstanding work by receiving an NQA. However, our hope is that advisors and agents are ready to step back and be recognized for all of their hard work that they put into their practice in 2020 and be recognized this year.” In addition to the overhaul, the deadline for applications for NQA was extended and standardized across all awards so members are more likely to understand award opportunities.

The NQA applications in the areas of life insurance, multiline, financial advising, and health and employee benefits all ask various questions as to production but provide bonus points based on NAIFA involvement, including holding the LUTCF or LACP and holding leadership positions. The intent of the award is to

service

recognize the best of the best in NAIFA — those who have stellar performance and practice for a greater purpose. In 2020, over 1,200 NQA awards were presented for the aggregate work delivered in 2019.

“The hope this year is that we can really get the word out about the National Quality Awards,” Trotter said. In 2020, NAIFA worked with Southern Farm Bureau Life Insurance Company, Modern Woodmen of America, COUNTRY Financial, Securian, and Kansas City Life Insurance Company to offer NQA as an advisor incentive program to reward performance. “Just like with the overall NAIFA brand, too few companies and people are aware of what we do as an association,” Carawan explained. “We aim to change that this year in alignment with our 2025 Strategic Plan to increase brand amplification, member experience

The National Quality Award is open to all advisors and agents in the financial services industry to apply for the recognition. To be recognized in the NAIFA listing and receive the NQA certificate, however, you must be an active NAIFA member. The qualifications, database of award winners, and applications for the award can be found within NAIFA’s Talent

and support membership growth. The National Quality Awards align with all three pillars of our 2025 Plan, and we are intent on growing the number of award recipients and providing the public recognition that they deserve within their NAIFA family, to their business network in which they work, and to consumers.”

To help spearhead the effort to raise awareness of the NQAs and increased adoption by agents, companies and agencies a new working group has been formed that includes Trotter of Ike Trotter Agency; Tassey (NAIFA-ME) of E.A. Scribner Insurance Agency; Laurie Adams, CFP, CLU, LUTCF (NAIFA-IL and loyal member since 1982) of COUNTRY Financial; and Past National President Paul Dougherty, LUTCF, FSS, HIA (NAIFA-MD and loyal member since 1999) of State Farm.

Development Center at tdc.naifa.org/ nqa. Applications are now open and will close September 30, 2021. Applications will reflect your work during the 2020 year. Recipients will be recognized in early December 2021 at the National Leadership Conference to be held in-person in Washington, D.C. See 2020 winners at tdc.naifa.org/nqa2020-winners.

“quality care”

NQA is the hallmark of an advisor that provides exceptional client

Three Successful Professionals Differentiate Themselves with NAIFA’s LACP Certification

By John Boyle, CAE

NAIFA’s Life and Annuity Certified Professional (LACP) certification is a seal of approval and professionalism for advisors in the life insurance and annuity market. For more than 130 years, NAIFA has been the professional association that advocates, educates and differentiates advisors. For nearly 40 years, NAIFA’s LUTCF designation has been a cornerstone credential for tens of thousands of advisors. In 2017, NAIFA expanded its credentials offerings to include the LACP, which has cultivated a committed group of LACP-certified advisors and growing recognition in the industry.

Unlike many industry credentials, the LACP is an exam-based certification. There is no designated course of study. Instead, candidates who meet the eligibility requirements for licensing, experience, education and a commitment to NAIFA’s Code of Ethics may test themselves against the LACP exam. Passing the exam earns a candidate the opportunity to present themselves as a certified professional in the life insurance and annuity space.

The LACP is unabashedly about recognition and promotion of an advisor’s experience, knowledge and credentials as a proven professional.

CREDENTIALS MATTER

When he first joined the industry, Mark A. Squires, founder and president of Wise Choices Financial, LLC in Kansas City (loyal member since 2017), did not embrace industry credentials. He said, “I had an old guy tell me those certifications are alphabet soup.” But as Squires assessed advisors in his area who were more successful and more visible than he was, he noticed many of them highlighted their credentials. That is when he realized, “You know what? Credentials matter to people.”

Once he had that realization, Squires said, “I actually went to the FINRA website and read everything about the various credentials.” That is how he decided to pursue the LACP. Of the more than 200 credentials recognized on the FINRA designations list, only nine are included on FINRA’s

list of accredited designations. LACP is accredited by the National Commission for Certifying Agencies (NCCA). The NCCA is an independent organization that has established accepted standards for professional certification programs and, through a rigorous peer review process, assures compliance with those standards for certifications that bear the NCCA imprimatur.

AN EXAM-BASED CERTIFICATION

The foundation of the LACP exam is the exam content outline. This outline was developed by a team of subject matter experts who are NAIFA member advisors with real world experience. The subject matter experts began with a job analysis that identified the essential knowledge,

Photos provided by association.

centers Talent Development Center

abilities and experience needed to be recognized as a professional. The essential information was organized into three subject domains:

1 Necessary knowledge of life insurance, annuity and related products

2 Understanding of ethical, legal and regulatory issues

3 . Knowledge and commitment to a consultative sales approach that puts a client’s needs and goals at the heart of the client-advisor relationship.

“The goal of the LACP exam is to identify advisors who have a thorough understanding of what it means to be a successful professional serving the needs of clients through the use of life insurance and annuity solutions,” said Michael Staeb, LACP, LUTCF, Chair of the NAIFA Certification Commission (loyal member since 2009). “The exam isn’t a test of rote memorization. It was designed by experienced professionals to challenge candidates to identify best practices based on a complete understanding of how to effectively and ethically serve client needs.”

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The LACP exam is offered during January, July and October testing windows at any of hundreds of proctored testing facilities affiliated with Scantron Assessment Solutions. The exam is also currently offered online through a live, proctored testing portal. The early application deadline for the October testing window is Sept. 1 with an extended deadline of Sept. 15 (additional fee). Learn more and apply for the exam at tdc.naifa. org/lacp.

THE MARK OF A PROFESSIONAL

“I actually enjoyed the exam,” said Carina Hatfield, principal agent of Weigner Insurance and Financial Services, Inc. in Pottsdown, Pennsylvania (loyal member since 2005). She described it as validating. “The questions were very practical in your business. If you are in this space and you do life insurance and you sell annuities or explain them or have

conversations about those products on a regular basis, it’s something that you can easily understand.”

Recognizing professionalism in serving clients is the purpose of the LACP exam, and the purpose of the certification for advisors is to demonstrate and promote that professionalism to clients and prospects. “A couple things about designations in general is that the more you have, maybe it makes you smarter, but what the consumer sees is that you are committed to furthering your education, that you are always doing something to learn something new,” said Irene Stolte of Horizon Wealth Strategies, LLC in Somerville, New Jersey (loyal member since 2002). Of the LACP, she said, “It’s a great thing to put on your business card and show people that you’re committed to your career and your profession.”

The exam isn’t a test of rote memorization. It was designed by experienced professionals to challenge candidates to identify best practices based on a complete understanding of how to effectively and ethically serve client needs.

Register by Sept 15 Congratulations

Next Testing Window: OC T 20 2 1

Online LILI Brings Distant Members Together

By Brendan Bernat

Over the course of two decades, NAIFA’s Leadership in Life Institute (LILI) has inspired curiosity. What do the candidates do for six months? Is it secretive? As thousands of NAIFA members have discovered, LILI candidates are immersed in a process of study, reflection and interaction. The result is that NAIFA leaders are created — leaders who are now empowered to bring their best selves to their homes, businesses and communities.

While the curriculum of LILI is no secret, LILI classes do inspire close personal connections based on trust. Considering one’s life with the end in mind is a transformative experience, and the transformation occurs together with other LILI candidates.

In 2020, NAIFA set out to adapt LILI to expand its availability as an online program. Among the design priorities for this new online LILI was maintaining the value and impact of LILI through the inclusion of existing curriculum elements. In addition, NAIFA sought to continue to provide candidates with a transformative experience characterized by co-learning, personal connections and shared growth experiences.

In April 2021, NAIFA announced the general availability of the online version of LILI. The first online LILI class began in May and is still ongoing. Each month a new cohort group will kick off its six-

month program. Although some states were forced to conduct LILI online due to COVID-19 restrictions in 2020, this is the first time LILI is being offered based on a design specifically intended to be delivered online.

While state hosted in-person LILI classes continue, the new online LILI means that members may participate from anywhere in the United States, including Guam and Puerto Rico.

Instrumental in the creation of online LILI are the first online LILI Moderators, Aaron Ostler, ChFC, (loyal member since 2006) and Davin Bell (loyal member since 2004). Ostler also served as the volunteer subject matter expert during the instructional design phase of online LILI. He was asked for his initial thoughts after co-moderating the first online LILI class. “I’ve moderated in-person LILI three times and was excited but anxious

going into the first class not knowing how this was going to work. After the class, the anxiety left, and excitement ramped up. The candidates have already started forging relationships, and I’m really looking forward to future sessions.”

Co-moderator

Bell was equally enthusiastic. “As any LILI alumni will attest, LILI has historically been an in-person experience. However, the COVID-19 lock-downs pressuretested the way we have been doing LILI and provided an opportunity to re-think a path forward. What has resulted is a whole new dimension to the LILI experience. With a virtual platform, candidates are no longer regional, but rather a sampling across the country. In-person will never go away, but with the virtual experience officially underway, we have ushered in a whole new opportunity to bring together NAIFA members like never before. I am forever grateful and thrilled to be a part of the on-going experiment we call LILI.”

The COVID-19 lock-downs pressuretested the way we have been doing LILI and provided an opportunity to re-think a path forward. What has resulted is a whole new dimension to the LILI experience.

Long-Term Care and Underserved Communities: Messages That Culturally Connect

By Carroll Golden, CLU, ChFC, LACP, CLTC, CASL, FLMI

Baby Boomers are living longer than previous generations. However, this longevity doesn’t always translate to people of color in underserved markets who lack access to high-level healthcare, according to Chris Gandy, NAIFA Trustee and Founder of the Midwest Legacy Group (loyal member since 2003). The lack of access is particularly significant for those needing long term care (LTC) services. “It becomes a new pandemic!” Gandy said.

The failure to prepare for LTC needs and a tendency to rely on family are reasons family wealth is continually diminished in many households. Using assets for LTC, as opposed to investments and wealth accumulation, is a cycle that needs to be broken, Gandy said. Education is important. Gandy points to his own experience. He learned about LTC planning options only after he became an advisor.

When Gandy asks his clients about LTC, they generally respond with, “You mean nursing home insurance?” They also relate LTC to dying. He reframes the discussion away from death and care to emphasize “access to choices.” It follows a logical process. He “educates” his clients, increases their “knowledge” so that they become familiar with the “choices” that will “free” them from the cycle of using family wealth to cover LTC.

By talking about choices and freedom, Gandy addresses his client’s emotional concerns instead of offering a sales pitch. For generations, the word “freedom” has resonated with African Americans. In that context, Gandy

explains LTC insurance this way: “Use it, use it or use it. By shifting some of your assets into LTC insurance, you can use it for living expenses, use it for LTC or use it for a family legacy. In leveraging a portion of an asset, you will absolutely use it for one of those three scenarios.”

The LTC market is evolving. Traditional LTC (TLTC) is available along with hybrid LTC products. But TLTC remains marred by previously underpriced products and premium rate increases. Gandy suggests that advisors take objections as “bite-size pieces.” He may ask a client: “If you go to Florida, do you pack when you get there and pay the going price for what you need, or do you pack first?” This helps the client understand why waiting to prepare for LTC doesn’t work.

Gandy explains how LTC planning helps families leave financial legacies. A key phrase to use is “generational wealth.” Since many parents don’t understand it, we must teach this generation about wealth preservation. Gandy “pressure tests” his client’s current financial situation. The conversation starts with “parent proofing” their plan. Who is the most financially sound person in your family? If your parents need help, what will be

the effect on your plan? These simple, logical connections to real life situations show the importance of a financially sound LTC plan.

LTC planning is crucial for providing financial security to underserved communities, and it has long been neglected or overlooked. It’s a problem that can be addressed, but advisors must use the right messaging to make meaningful connections and progress.

By talking about choices and freedom, Gandy addresses his client’s emotional concerns instead of offering a sales pitch.

The Young Advisor Team Expands to State and Locals

By Emily Cabbage

What happens when you bring NAIFA’s Young Advisors together? You experience the power of NAIFA Nation. In April, the YATs held their first All-YAT call, inviting YAT chairs from across the NAIFA Nation to come together. Leaders discussed the role of our young professionals in the 2025 Strategic Plan and attendees learned of engagement opportunities.

Young professionals have a pivotal role in NAIFA’s 2025 Strategic Plan and check all the boxes in aligning to the three pillars of brand amplification, membership growth and member experience. Trustee Liaison to the YAT committee, Mark Acre, LUTCF (loyal member since 2009), stated, “Our future is in us, the 40 and under membership, and [the NAIFA Board of Trustees] wants to do what we can to support you. YAT voices are being heard. We have a board that is invested in making sure you have the support you need, the programs you need, and the opportunities you need to connect with other YATs and make NAIFA what it will be in five, 10, 15, 20 years from now.”

Trish May (loyal member since 2013), NAIFAPA’s YAT chair, shared her success story of engaging the young advisors in her chapter. She sent a personal email to every member in Pennsylvania to organize a “YAT Chat.” Those who were not YATs offered “nuggets of wisdom,” such as things they wish they knew early in their careers. A second Pennsylvania YAT Chat focused on Advocacy. YAT Co-Chairs Blake Gillies, DIA (loyal member since 2012), and Carina Hatfield, LUTCF, CLCS, LACP (loyal member since 2005), shared personal experiences of being a part of NAIFA’s Advisor Ambassador Program and Future Leaders Session. Both are opportunities for YATs across NAIFA Nation to volunteer and help move the needle on membership

while increasing their brand and circles of influence. Gillies said of the All-YAT call: “That was one of the best YAT things I’ve done at NAIFA. We need to do more of this.”

YAT FRAMEWORK

The National Membership Committee recently recommended that YAT chairs serve on their chapters’ membership teams, working side by side with state and local chapter membership chairs. The chapter YAT chair is being strongly recommended to be a standing board position at the state and local chapter levels. Members of the National YAT Committee along with past YAT Leaders of the Year will reach out to chapters to aid chapters in identifying and equipping the YAT chairs with the right job description, programs, and support.

A great way to tie YAT and Membership together is through the award-winning Advisor Ambassador Program. This is an opportunity not only to bring prospective members into our funnel but to also showcase YATs sharing their best practices and keys to success. Chapters should continually recommend YATs serve as ambassadors, in addition to encouraging your prospects to experience NAIFA as a “try before you buy” when they participate in this bi-monthly session.

The state board of NAIFA-Ohio chose to create a new YAT chair in 2020 and selected new member Derek Scheetz (loyal member since 2019) to lead the charge. Scheetz joined on December 23, 2019, after sharing a coffee with the membership chair and learning more about NAIFA. Three years into the business and recently married, Scheetz was busy building a vertical focused on dental practices, but quickly made time for NAIFA. During 2020, Scheetz participated in the Advisor

Ambassador program and the inaugural Future Leaders program before getting involved in the National YAT Committee. The state chapter awarded Scheetz its first Young Advisor Team Leader of the Year at its annual business meeting and conference in December 2020.

Our association recognizes a YAT Leader of the Year as the face of NAIFA membership, as well as identifying Four Under 40 winners annually. State and local chapters are encouraged to scale these awards to recognize young advisor leaders within their communities — it’s another benefit to offer as your chapter and gets more recognition for NAIFA members!

Shane Westhoelter Makes Passion for His Business Routine

By Mark Briscoe

If it’s 7 a.m., Shane Westhoelter, AEP, CLU, LUTCF, LTCP (loyal member since 1994), is up and running.

As part of a routine he established years ago, he begins his day at the same time every morning, even if he’s in an unfamiliar time zone and even if he has stayed up later than usual the night before.

Sticking to a proven routine is part of what made him a world-class distance runner and a competitor in the U.S. Junior Olympics. He was poised to take his talents to the summer Olympics until a U.S. boycott of the games upended those plans.

More recently, adhering to his proven routine has made him a hugely successful financial professional, as the President and CEO of Gateway Financial Advisors, and a valued thought leader and frequent speaker for NAIFA’s Business Performance Center.

It has earned him distinction from his broker-dealer, Cambridge Investment Research, as a recipient of their Spirit of Cambridge Award given to independent financial professionals who are dedicated to serving their clients while reflecting the core values of integrity, commitment, flexibility and kindness.

DIGNITY WHEN IT MATTERS MOST

After his Olympic dream was disappointed, like any good distance runner, Westhoelter continued moving forward. He entered the insurance and financial services industry in 1988,

selling $5,000 and $10,000 face-value life insurance policies door-to-door in Ferguson, Missouri.

He delivered his first death benefit to a mother who had lost her sevenyear-old son in a drive-by shooting, and he told the story to attendees at NAIFA’s Business Performance Center Impact Week earlier this year. The woman, during her grief, told Westhoelter that the $10,000 check allowed her to keep her dignity by doing the decent thing for her son without turning to friends, family or the members of her church for financial help.

That experience gave Westhoelter a strong motivating principle — his “why” — that guides him to this day: “We provide people dignity when it matters most.” It’s a simple phrase, but it’s something he is passionate about.

Having “a passion with a purpose” has been a driving force in Westhoelter’s success. He went from selling policies door-to-door to founding Gateway Financial Advisors in January 2000. Today, the full-service financial marketing organization has 180 offices nationally, $25 million in gross revenue and $3.2 billion in assets under management.

“To me, the difference between the impossible and the possible lies in a person’s determination,” he says. “When you have a passion, when you have a drive, and when you have determination, there’s nothing that can hold you back.”

KEYS TO TOP PERFORMANCE

Westhoelter has experienced nearly every aspect of the insurance and financial services industry, and he has a few ideas about what advisors can do to make themselves more successful. Among the tips he offered NAIFA’s Business Performance Center Impact Week attendees:

• Have a story and share it. The key to sales is making emotional connections with people and building trust. Simply pitching products doesn’t make connections or build trust. Stories help people understand the value of what you can give them.

• Provide solutions, not products. “Be a problem solver, not a product seller,” he said. Learn what clients want to accomplish and help them do it.

The repetition will lead to perfection.

• Be a brand and become your brand. Branding makes sure that everyone knows what you do. Westhoelter says his clients associate him and his firm with a pair of “power phrases”: 1) “We provide people with dignity when it matters most” and 2) “We take the ‘if’ out of life. What if you live? What if you linger? What if you leave?”

But telling stories, providing solutions and establishing your brand all tie back into finding a successful routine and building a passion for what you are doing.

Like a successful musician, actor or athlete, a professional creates a repeatable script and then practices relentlessly. “Get your stories down. Solidify your brand,” Westhoelter said. “And once you find that they work,

there’s no need for reinvention. The repetition will lead to perfection.”

“What I did in 1990, what I did in 2000, I’m still doing today,” he said. “I get up, I stick to a script, I stay focused in my path, I do routines, and I keep score.”

Then the passion with a purpose takes over.

“If you find your passion in this industry, what it is that drives you and why you love this industry, it’s probably not going to be the money,” Westhoetler said. “It’s going to be something with an emotional attachment. Maybe it’s a family story, maybe it’s a situation you went through. Maybe it’s loved ones that you’ve lost in your own family. If you find that passion, it will make you a success.”

Featured Partner: OneAmerica

OneAmerica has long supported NAIFA’s Limited & Extended Care Planning Center (explore the center at lecp.naifa.org). VP of Sales for Care Solutions Tracey Edgar and Marketing Director for Care Solutions Patricia Shuhilo participate on the LECP Advisory Council. Recently, the NAIFAOneAmerica partnership has grown.

NAIFA Chicagoland President and National Trustee Chris Gandy, LACP, (loyal member since 2003) often wears one of his two custom-tailored white coats given to the top producer in OneAmerica. He says his NAIFA involvement has bolstered his success. The more he has been involved, the more successful he’s become.

A passion of Gandy’s that aligns with OneAmerica’s initiatives is increasing financial well-being for diverse populations and ensuring their access to risk protection products. He is a member of NAIFA’s Diversity,

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NAIFA’s Business Performance Center houses content to help you advance your practice and succeed as an agency owner and entrepreneur. Blog articles, archived webinars and recordings from NAIFA’s Business Performance Center Impact Week (including Shane Westhoelter’s presentation) are available at bpc.naifa.org/impact.

Equity and Inclusion (DEI) Council and a frequent speaker on the topic. With the support of OneAmerica and NAIFA, he testified to an NAIC working group on DEI. “This is what I live to do,” Gandy said. “The reason I get up in the morning is to go to work every day to help more people achieve financial security and help the industry understand the challenges faced by diverse communities in achieving financial security.”

OneAmerica was an early adopter of DEI best practices based on intentionality and listening. The culture at OneAmerica increases sales opportunities and opens new markets for associates. Helping associates understand clients’ unique cultural values and beliefs increases their ability to provide products with the greatest impact.

OneAmerica’s growing support furthers NAIFA’s thought leadership work within the Talent Development and Business Performance Centers, as well as increase awareness for the importance of state and federal advocacy.

Rethinking Retirement: The Evolving Generational/ Cultural Role of The ‘Sandwich Generation’ Caregiver

By Carroll Golden , CLU, ChFC, LACP, CLTC, CASL, FLMI

s we move through life’s stages, families (however you define family) take care of one another. It’s what family is all about. Over the years and throughout decades, we plan and prepare for the next step of caring until we plan for “retirement.” Modern-day retirement developed due to a combination of increased life spans, advances in medicine and the treatment of diseases, growing popularity of pension plans in certain sectors, and the onset of government-sponsored benefits in 1935 with the creation of Social Security.

RETIREMENT PHASES

Nowadays, the term retirement can refer to a period that may stretch out for 20 or 30 years. We generally accept that there are three common phases to “retirement.” How quickly you pass thorough the stages is influenced by your resources and health. In phase one, you may travel or pursue other activities that you put off due to family and career responsibilities. The next phase may involve finding a community or living style that is more routine or “settled.” The third phase sees the effect of aging, but we still call it retirement. We haven’t developed a word to describe this stage when retirement years morph into aging, an increase in dependency or needing support. It’s still just ‘retirement.’ While most of us do some planning for the

first two phases, we shy away from planning for the third phase. We don’t include preparation for long term care needs in our retirement plan. Somehow, the topic throws us for a loop. Why is preparing for this phase of “retirement” so daunting and intimidating?

CONVERSATION WITH A CAREGIVER

A friend of mine is an advisor. He told me that he received a distressed call from a client. He was a bit puzzled and concerned since he had sold his client a life insurance policy and collaborated with other NAIFA members who helped his client with investment allocation and other risk products. Let me share with you how the conversation went.

“Hi Tom, I hope you and yours are well. How can I help you?”

“Well, it’s not exactly me that needs help. It’s my mom. She retired and things were fine for a while. But lately, she is starting to show signs of aging. Each year, she gets less steady on her feet. She won’t hear of moving out of her place. So, I have been taking time off work to help. My daughter and son are also getting involved. Frankly, it’s affecting my ability to do my job, squeezing my budget, and stressing out my kids! I feel caught in a vise.”

“I understand Tom. I’m glad you called. You sound as if you’re caught in the ‘sandwich generation’ syndrome. Given how long people are living into ‘retirement,’ the ‘sandwich generation’

is now both multigenerational and multicultural. Let me arrange a call to discuss available options to help your mom, you and your family. I suggest we include your children as understanding and communication are essential.”

“I probably need to include my brother who is also busy and doesn’t live close by. But we all need to be on the same page.”

“Right! How are you on a personal level, Tom?”

“Are you kidding! I hate to admit it, but I am burned out. I don’t want my mom to feel like a burden, but this juggling act is getting to me.”

Like Tom, caregiving is probably not a role for which you or your clients are trained: 49% of caregivers experience feelings of depression, 57% find it difficult to sleep on a regular basis, and 46% have gained or lost weight as a result of caring for others. Will Tom be one of the 30 % of caregivers who end up providing care for less than a year, or will it take him away from other family members for multiple years?

More family caregivers are in the workforce — some 60% work full- or part-time in addition to their caregiving responsibilities. Without a plan for handling extended and long-term care needs, caregivers face substantial economic risk from loss of income, benefits, contributions to their own retirement savings or reduced Social Security benefits.

If you start the conversation early, it’s about how to help instead of how to handle.

Clients like Tom, caught in the “sandwich generation,” are turning to trusted advisors for advice. COVID-19 served as a wake-up call! We cannot avoid recognizing that there are profound changes for the extended or long-term care industry and services on the horizon. Most of us and our clients are not well prepared to face them. Whether short or long, chances are you or someone in your family will need some level of extended or long-term care. Without family involvement, will Tom know if his mother is a victim of lottery scams or online fraud? Will his mother be among the 95% of people who say they are willing or want to talk about their end-of-life wishes, but don’t have a way to do so?

HELP INSTEAD OF HANDLE

If you start the conversation early, it’s about how to help instead of how to handle. Tom’s family spans three adult generations — plenty of room for misunderstanding, misinterpretation and a lack of actionable knowledge. Good communication is key to success in any undertaking but especially when dealing across generations and cultures. In personally caring or arranging for care for friends or family members, individuals need to be understood for who they are, keeping in mind that life experiences leave a permanent mark and differ greatly from one generation and culture to another.

It’s hard to see a loved one lose their vitality but unbearable to know, as an advisor, you could have made the aging and care process for your client and his family more physically, financially and emotionally solid by advanced planning.

Wanting to offer some immediate assistance for Tom, his advisor considers the expanding role of

technology in the healthcare sector. Advances in telemedicine abound. Sensors are coming to the aid of caregivers who distance monitor family members and physicians who collect on-going data and remote patient monitoring. These include wearables and smart technologies. There are sensors that will change how we handle our own and a loved-one’s well-being. Wearable sensors keep tabs on our body (Garmin, Fitbit and Apple watches). Field sensors track us as we move (smart phones and digital photogrammetric devices). This will be especially helpful for Tom’s mom, who is developing an unsteady gait. Episodic sensors (blood pressure cuffs) are reactive, and along with the other sensors, they provide data analytic information used for proactive planning.

The advisor calls Tom. “Tom, I want to discuss how technology devices may be helpful. Let’s talk about what will provide you with options to help manage your mom’s safety and wellbeing while we create a longer-term plan.”

“Sounds good. I know I should have thought about technological aids, but I’ve just been overwhelmed. Thank you! I already feel better knowing we have something to discuss for the immediate while we review a long-range plan.”

BY THE NUMBERS

According to a November 2019 AARP Public Policy Institute (PPI) report, in 2017, about 41 million unpaid family caregivers provided an estimated 34 billion hours of care — worth $470 billion — to their parents, spouses,

partners and friends. The report explores the growing scope and complexity of caregiving today, which includes an aging population, more family caregivers in the paid workforce, and an increasing amount of medical and nursing tasks that caregivers now provided at home. Family caregivers often experience positive effects and feelings of satisfaction and meaning. But the bigger story is that they typically feel highly strained and overwhelmed.

By the numbers, here is what a recent survey by Cambria Health Solutions found:

• 36% of caregivers are 18-to-34year-olds

• 62% are married or living with their partner

• Caregivers are almost evenly split between women 53% and men 47%

• 54% of caregivers are employed fulltime or part-time

• 58% have a child in the household

• 24% of caregivers provide care for both a child (under the age of 18) and an adult (over the age of 18)

• 64% of caregivers use at least one digital tool to help manage their caregiving responsibilities.

Do you see yourself or one of your clients in the list? Take action:

1. Start the conversation early so you can ‘help’ instead of ‘handle’

2. Work with other specialists, agents and specialty centers to create a supportive “knowledge” community

3. Set an example for your clients: plan for how you will handle extended and long-term care needs when you retire, and tell them you did so!

COVID-19 served as a wake-up call! We cannot avoid recognizing that there are profound changes for the extended or long-term care industry and services on the horizon.

Redefine the Lines at Performance + Purpose

This year’s Performance+Purpose conference is set to air Aug. 17-19 and will remain in an all-virtual format with the expectation of returning to an in-person conference in 2022 in Phoenix, Arizona. Despite the physical distance, the conference has been redesigned to include a high level of audience interaction and participation.

The three-day event is jam-packed with sessions that are laser-focused on providing our advisors with practical skills and new insights into how you can better prospect, manage your practice and expand your book of business. The emphasis is: Education! Education! Education!

TOP-NOTCH KEYNOTES

The conference will kick off each day with a top keynote speaker and will include virtual book-signing sessions. Tuesday will feature political commentator and journalist Dana Perino, a New York Times best-selling author and former White House Press Secretary. She co-anchors “America’s Newsroom with Bill Hemmer & Dana

Perino” and is a co-host on “The Five,” both airing on the Fox News Channel.

Wednesday’s keynote speaker is Holly Hoffman, the last remaining member of the Espada Tribe and the last woman standing on Season 21 of the CBS’ hit reality show “Survivor Nicaragua.” She is a motivational speaker and author of Your Winner Within and Write Yourself a Note

Jason Hewlett, the keynote for Thursday, is the only speaker in the world teaching leadership in a performance of uncanny musical and comedy impressions, utilizing the legends of stage. “The Promise” is a keynote speech that feels like a show, with proven processes and immediately implementable takeaways to transform your business and leadership skills.

EDUCATION AND INTERACTION

Throughout each day, conference attendees will attend short-form TEDtype talks, interact with other members and compete with other members in a variety of interactive games. The entire conference will be run on a new platform to deliver an exceptional experience to you before, during

and after the post-conference. As an attendee, you should expect to walk away with enough new ideas to put new money in your pockets.

Whether you are new to the business or have been successful for decades, professional development at Performance+Purpose offers something for everyone, with sessions following four main learning tracks:

• Sales and Prospecting

• Practice Management

• Technology

• Advanced Planning

The sessions cut across practice specialties, and attendees will learn from the best. Breakout sessions in these areas will be led by some of the industry’s most successful professionals and top thought leaders.

NEW THIS YEAR

We know that the demand to attend next year’s conference at the beautiful Arizona Biltmore will exceed supply in terms of hotel rooms and registrations. We’ve created a new process this year where you can reserve your spot for 2022 and enjoy a special VIP experience when you join us in-person next August. Make sure to take advantage of this special offer so that you don’t miss out on the experience that will be Performance+Purpose 2022.

For more information about Performance+Purpose 2021 and to register, visit us at conference.naifa.org.

As an attendee, you should expect to walk away with enough new ideas to put new money in your pockets.