NAIFA's Advisor Today Fall 2023 Edition

FALL 2023

ADVISORTODAY Live + Work + Give

Still Making History

IN THIS ISSUE: JOHN NEWTON RUSSELL AWARD RECIPIENT JOE JORDAN EXPANDING THE NAIFA FAMILY SUMMER IN-DISTRICT MEETINGS

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Departments

CONTENTS | FALL 2023

4 CHAPTER PROFILE

5 PRESIDENTS’ PERSPECTIVE

5 CEO CORNER

17 NAIFA’S TALENT DEVELOPMENT CENTER UPDATE Ask the Experts: LUTCF

22 LEADERSHIP IN LIFE INSTITUTE

22 ADVISOR TODAY PODCASTS

26 IFAPAC

Features 6 NAIFA’S APEX EAST

8 ADVOCATE THE DOL’S FIDUCIARY PROPOSAL NAIFA works on behalf of you and your clients at the federal, interstate, and state levels to ensure laws and regulations promote financial security.

12 EDUCATE NAIFA’s LUTCF NAIFA refreshes and relaunches a valuable early-career designation designed to give advisors a leg up.

24 SUMMER IN-DISTRICT MEETINGS NAIFA members throughout the country took their grassroots political involvement home, holding more than 130 meetings with members of Congress and top staff during the Summer Congressional recess.

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The 2023 John Newton Russell Memorial Award Industry legend Joe Jordan leads a life of significance.

The renowned author, speaker, and thought leader is recognized for his positive influence on producers around the country and world.

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NAIFA | LEADERSHIP

NAIFA CHAPTER PROFILE

NAIFA-Utah

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tah is a hotbed of NAIFA grassroots advocacy. The state chapter holds several successful advocacy events each year, including their annual State Legislative Day with state lawmakers, Legislative Engagement Day with state and federal officials, and InDistrict Meetings with federal lawmakers during the Summer Congressional recess.

This year’s Legislative Engagement Day drew more than 50 insurance and financial advisors from around the state and was attended by Representatives Blake Moore, Chris Stewart, John Curtis, and Burgess Ownes along with state Insurance Commissioner Jon Pike. State President Mark Anderson and Vice President of Advocacy Dori Phillips were able to meet their NAIFA In-District Challenge goals by August 4.

NAIFA’S ADVISOR TODAY

“As I reflect back on the past two years and our multiple visits to Washington to participate in the NAIFA Congressional Conferences, I have gained an even greater appreciation of the purpose of the three NAIFA pillars of principle and most importantly what a small delegation can accomplish when it strives to Advocate, Educate, and Differentiate,” said Anderson. “Those aren’t just flowery words as we consider our role with trusting clients, but a pattern of what a difference we can make with our elected officials. One of the Congressmen in attendance made reference to the fact that ‘not just anyone or organization can get all of the state’s Washington delegation together for a town hall meeting. NAIFA deserves our attention.’”

NAIFA NATIONAL LEADERSHIP

Kevin Mayeux, CAE, NAIFA CEO kmayeux@naifa.org 703-770-8101

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

Michael Gerber COO & General Counsel mgerber@naifa.org 703-770-8190

President-Elect Thomas M. Cothron, LUTCF, FSCP Southern Farm Bureau Life Insurance Company tomcothron@gmail.com

Diane Boyle SVP, Government Relations dboyle@naifa.org 703-770-8252

Secretary Douglas B. Massey, LUTCF, CLU, ChFC, FSS Doug Massey Financial Services doug@dougmassey.com

Suzanne Carawan VP, Marketing & Communications scarawan@naifa.org 703-770-8402

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

Charmell Davis VP, Member Advancement cdavis@naifa.org 703-770-8225 Erni Davis VP, Finance edavis@naifa.org 703-770-8125 Karla Kirk VP, Growth & Revenue kkirk@naifa.org 703-770-8227

Immediate Past President Lawrence Holzberg, LUTCF, LACP Coastal Wealth lholzberg@mycoastalwealth.com NAIFA CEO Kevin Mayeux, CAE kmayeux@naifa.org

LAYOUT AND PRINTING BY

Carina Hatfield, LUTCF, CLCS, LACP chatfield@weignerinsurance.com Win Havir, CPCU, CLF, LUTCF, FSS, AIC, LACP Winona.havir@horacemann.com Danny O’Connell, LACP doconnell@nextlevle.agency ADVISOR TODAY EDITORIAL WORKING GROUP

4024 Alexandra Drive Waterloo, IA 50702

Ike Trotter, CLU, RICP,ChFC Working Group Lead

Phone: 319-233-3731

Laurie Adams, CFP

®, CLU, LUTCF, LACP

Brian Ashe, CLU, LACP Frank Bearden, MSM, PhD, CLU, ChFC Scott Brennan Chris Gandy, LACP Fred Joyner ADVISOR TODAY STAFF Suzanne Carawan NAIFA VP, Marketing & Communications

Email: info@strategic-imaging.com www.strategic-imaging.com Business Development Manager: Mike Reyhons Customer Relations Manager: Sam Biersner Layout and Design: Tessa McKenna Cover Photo provided by NAIFA. NAIFA’s Advisor Today is published three times annually by the National Association of Insurance and Financial Advisors.

Mark Acre, LUTCF Mark.acre@onesourcegroup.net

PUBLISHED BY

©2023 National Association of Insurance and Financial Advisors. All rights reserved.

Dennis P. Cuccinelli, LACP dennis@dcuccinelli.com

The National Association of Insurance and Financial Advisors 1000 Wilson Blvd Suite 1890 Arlington, VA 22209

Board of Trustees

Christopher Gandy, LACP cgandy@midwestlegacyllc.com

Phu Ngo VP, Technology pngo@naifa.org 703-770-8130

Evelyn Gellar, LUTCF, RICP, CLTC ,

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Brian J. Haney, CLTC, CFS, CIS, CFBS, LACP, CAE bhaney@thehaneycompany.com

Mark Briscoe NAIFA Sr. Dir., Strategic Communications

Corey Mathews, CAE VP, Member & Chapter Services cmathews@naifa.org 703-770-8404

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NAIFA President Mark Anderson, Rep. Burgess Owens, and VP of Advocacy Dori Phillips

Aprilyn Chavez Geissler, LACP aprilyngeissler@gmail.com FSCP, CDFA egellarwifs@gmail.com

Phone: 877-866-2432 Email: info@naifa.org www.naifa.org at.naifa.org

NAIFA | LEADERSHIP

PRESIDENTS’ PERSPECTIVE

What About the Expanded NAIFA-FSP-Life Happens Enterprise Do You Find the Most Exciting?

From the Past President

From the President

By Lawrence Holzberg, LUTCF, LACP The merger with the Society of Financial Service Professionals and the addition of Life Happens gives us an unbelievable opportunity to do more of what NAIFA members love most—protecting more Americans through solid financial plans and products. All NAIFA members relish in the feeling of satisfaction and pride that comes from knowing that we’re doing good for Americans by increasing their financial security and protecting future generations. With our pooled resources, we will be able to reach even more Americans through Life Happens’ awareness campaigns and have our expanded membership base use Life Happens’ materials to engage in more conversations with clients and prospects. I couldn’t be more excited to be a member and a leader in NAIFA at this time, and if you haven’t considered getting involved in volunteer leadership, I invite you to do so.

By Bryon Holz, CLU, ChFC, LUTCF, CASL, LACP We are living in historic times! The opportunity to come together with even one iconic brand in the financial services space, let alone two, is simply incredible. What I find the most exciting about the expansion is that our NAIFA Family has grown and now includes even more people that all love our industry and love being part of their professional association.

As I’ve traveled the country this year to visit members at NAIFA chapter events, one thing was abundantly clear—we are a unique association full of diversity, but unified by the love of NAIFA and what we do. I’m excited to see us continue to attract like-minded people into NAIFA Nation who are looking to belong to a community that supports each person’s unique personality and is unified by our love of the clients we serve.

From the President-Elect

By Tom Cothron, LUTCF Our expanded footprint gives NAIFA the opportunity to re-engage members that have left for whatever reason through the years, and gives renewed opportunities for affiliates and local chapters to be formed. While the work of integrating two chapter structures is significant, I know that we can do so in a way that allows for people to come together and meet when and how they want—whether locally or virtually—without any geographic boundaries.

NAIFA offers each member a unique experience in allowing for a blend of member engagement opportunities that can be utilized at the national, state, and local levels. Only NAIFA offers each member the open invitation to engage in grassroots events at the state and federal levels, and only NAIFA has the culture of family to which so many of our members credit their ongoing success. The merger allows NAIFA an unprecedented opportunity to grow our network and bring more people into membership and advocacy.

CEO CORNER

One for All

By NAIFA CEO Kevin Mayeux, CAE

A

dding strength to strength, obviously, makes you stronger.

That’s why NAIFA is so excited about our merger with the Society of Financial Service Professionals (FSP) and addition of Life Happens. We are creating synergies that will bring abundant benefits to consumers, the community of agents and advisors, and the industry as a whole.

NAIFA, FSP, and Life Happens have developed prestigious brands within our industry and under the new structure each with retain its own identity.

NAIFA will always be the leading advocacy association for agents and advisors with the most influential political action committee. Life Happens will remain the go-to organization for effective outreach to consumers on life insurance, disability insurance, and other financial protection products. FSP is a leading educational and training force in our industry, bringing together financial advisors, insurance agents, attorneys, CPAs, and other professionals who work collaboratively on advanced planning issues.

While NAIFA has long been the voice of Main Street advisors and their clients, and will continue in that role, the addition of the membership of FSP expands our capabilities to advocate on a broader set of issues impacting financial service professionals. The addition of Life Happens brings a prestigious and wellknown consumer-oriented brand under the NAIFA umbrella.

Together, NAIFA, FSP, and Life Happens are stronger than ever. Strength, dedication, and hard work are the keys to advocacy success. The future is very bright.

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NAIFA | FEATURE

Apex East Spotlights NAIFA’s Professional Development Strength

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AIFA’s sold-out Apex East brought together highperforming producers and their colleagues in the financial services industry, including professionals in the fields of estate planning law, accounting, financial technology, performance coaching, wellness, and others.

The dynamic event was designed to help attendees boost production and their professional performance. It featured top-notch speakers and exhibitors and provided significant networking time to encourage attendees to build professional connections. NAIFA hosted Apex East in the world-class conference facilities at its new headquarters building in Arlington, VA, featuring stunning views of Washington, D.C. Apex East was NAIFA’s first major event since NAIFA, the Society of Financial Service Professionals, and Life Happens agreed to join together as one organization. FSP is an association of a broad range of industry professionals from interconnected practice areas. It is known for its top-notch professional development and training programs like Apex East.

The success of Apex East offers a small glimpse of how our members will benefit from expanded program offerings under our new union.

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Get Ready for Apex 2024 The Apex conference will return to the fantastic Arizona Biltmore, September 19-21, 2024.

The historic Biltmore was the site of NAIFA’s first Apex in 2022. You can sign up to receive updates, including notice when registration opens, at apex.naifa.org/2024.

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FEATURE | ADVOCATE

The DOL’s Proposal Is Unnecessary and Would Threaten Consumer Choice.

Once Again, NAIFA Jumps in to Protect Your Business.

NAIFA has built its advocacy influence with lawmakers and regulators for more than 130 years precisely for moments like this. The U.S. Department of Labor has once again proposed a rule that would have an extreme impact on the way advisors do business and would limit the choices of consumers working with financial professionals. For many lower- and middle-income Americans, the rule would likely deprive them of important services and advice altogether.

You may recall, this isn’t the first time we’ve been down this road with the DOL. It isn’t even the second. In fact, this is the fourth time since 2010 the federal government has tried

Federal

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AIFA has not been sitting idle. On October 6, CEO Kevin Mayeux raised NAIFA’s objections about the proposal in a meeting with the Office of Information and Regulatory Affairs (OIRA) of the White House’s Office of Management and Budget (OMB).

Previously, many NAIFA grassroots advocates raised the issue with their members of Congress during Summer In-District Meetings. Members of Congress are hearing our message. On the last day of August, Senator Bill Cassidy (R-LA), ranking member of the Senate Health, Education, Labor, and Pensions (HELP) Committee, and Representative Virginia Foxx (R-NC), chairwoman of the House Education and the Workforce Committee, sent a letter to the DOL opposing a new round of fiduciary rulemaking.

Now that DOL has nonetheless begun the rulemaking process by publishing the proposal in the Federal Register and creating a comment period, NAIFA remains vigilant. A NAIFA “Take Action” item, available on the Advocacy Action Center (advocacy.naifa. org/center), allows financial professionals to easily email their federal lawmakers on the issue.

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to expand the definition of fiduciary. This DOL proposal is particularly unfortunate, coming at a time when many Americans are concerned about their economic security and ability to prepare for retirement.

NAIFA members worked to oppose the DOL’s previous fiduciary rule, put forward in 2016, by testifying at regulatory hearings, writing letters, and raising concerns among members of Congress. NAIFA eventually brought a lawsuit along with the American Council of Life Insurers (ACLI) and a federal appeals court vacated the rule.

Interstate

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n anticipation of the rulemaking, NAIFA helped the National Conference of Insurance Legislators (NCOIL) draft a resolution that opposes the DOL’s new fiduciary rule as unnecessary and likely harmful to consumers. The resolution, which NCOIL adopted in July after NAIFA testified at the Conference’s 2023 Summer Meeting, states: “NCOIL urges the DOL to refrain from further rulemaking that would revive all or parts of the 2016 Fiduciary Rule” and “...urges state legislators and other interested stakeholders to join in opposition to any further rulemaking by DOL reviving the 2016 Fiduciary Rule.”

The National Association of Insurance Commissioners (NAIC) has also come out in opposition to the proposed rule, and NAIFA endorsed the NAIC’s statement. NAIFA has been a strong supporter of the NAIC’s annuities transactions model, which requires advisors to work in the best interests of the consumers they serve. NAIFA grassroots advocates have helped get the model adopted in more than 40 states. Like the Securities and Exchange Commission’s Regulation Best Interest (Reg BI), the NAIC model provides strong consumer protections without preventing financial professionals from serving middle- and lowincome investors.

FEATURE | ADVOCATE

State

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AIFA , working with our advocacy partner the American Council of Life Insurers, has been the driving force behind the enactment by more than 40 states of laws or regulations based on the NAIC’s Suitability in Annuity Transactions Model Regulation, which works in harmony with Reg BI to enhance protections for annuity consumers. The NAIC model requires advisors to work in consumers’ best interests during annuity transactions.

NAIFA urges all 50 states to adopt the model, which stands as additional consumer protection that argues against the need for additional DOL rulemaking.

A Proposal With No Problem to Solve The combined effectiveness of the Reg BI on a national scale and the NAIC model in the states that have adopted it makes this proposal by the DOL unnecessary. Furthermore, as NAIFA CEO Kevin Mayeux stated, the DOL’s FAQ on its proposed rule “referring to legitimate compensation many advisors receive for their work as ‘junk fees’ is insulting and unfair.”

NAIFA is particularly disappointed that DOL is trying to saddle advisors and consumers with an additional layer of regulations when the stated goals of the proposed rule are already being achieved by Reg BI and state measures based on the NAIC model.

NAIFA remains vigilant and is once again poised to take necessary actions to protect the interests of NAIFA members, their clients, and Main Street consumers across the country.

Mayeux said, “NAIFA will … submit official comments, continue to have discussions with the administration throughout the regulatory process, and work with members of Congress to achieve the best possible outcome for American families who depend on the products, services, and advice of NAIFA members offering a variety of service models to ensure a financially secure retirement.”

NAIFA-NJ members with Rep. Bill Pascrell

Get Involved The DOL proposal will feature prominently on the agenda at NAIFA’s 2024 Congressional Conference. NAIFA members will meet with their lawmakers and advocate for the ability of consumers to decide how and from whom they receive financial services and advice. Make your plans to be in Washington, D.C., May 20-21, 2024, for NAIFA’s annual Congressional Conference.

Learn more at conference.naifa.org/2024.

Get Your FSA Badge NAIFA’s Financial Security Advocate Academy provides grassroots training as a benefit for NAIFA members. Learn the basics of government to advanced grassroots concepts and earn your FSA badge to display on your NAIFA online profile and social media channels. To learn more, log in to the Member Portal at belong. naifa.org and click on “Grassroots” under the “Advocate” tab.

IFAPAC Opens Doors Your IFAPAC contributions help get NAIFA a seat at the table during important policy debates that affect your businesses and clients. IFAPAC creates name recognition for NAIFA with federal and state lawmakers, which helps members create those all-important relationships. NAIFA members can contribute to IFAPAC at www.naifa.org/ifapac or by scanning the QR code to the right.

Contributions to IFAPAC are voluntary and are used to contribute to campaigns of candidates for elected office. Your contributions will be divided between your state chapter’s IFAPAC and IFAPAC National if you have directed NAIFA to do so. You have the right to refuse to contribute without reprisal. The amount contributed will not benefit or disadvantage you in any way. Corporate contributions to IFAPAC’s political fund are prohibited. Contributions to IFAPAC are not deductible for federal income tax purposes. For NAIFA-Massachusetts members, the division of funds will be 60%/40% up to the state limit of $500 per calendar year. For NAIFA-New York members, a contribution on an LLC account will be retained 100% by the IFAPAC administrative fund due to state campaign finance rules.

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September 19 -21, 2024 Arizona Biltmore STAY IN THE KNOW:

apex.naifa.org/2024

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FEATURE EDUCATE centers | |TALENT DEVELOPMENT CENTER

The LUTCF Designation Program Is Back and Better Than Ever

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As of November 2023, advisors may enroll in NAIFA’s newly revised Life Underwriter Training Council Fellow (LUTCF®) designation program, a comprehensive introduction to the insurance and financial service industry. The new program allows candidates to earn their LUTCF in under one year.

• Course 1: Advising Process, Risk Management, and Life Insurance

Since 1984, NAIFA’s LUTCF designation has been among the most recognized and valued professional designations in the financial services industry. Over the past 40 years, more than 70,000 insurance and financial advisors have earned the LUTCF designation.

Each of the three courses contains a comprehensive quiz students must successfully complete. In addition, each student must achieve a passing score on the final exam before the LUTCF designation is conferred.

Now, following a short hiatus, the LUTCF designation program is back and updated for the needs of the 21st century learner. The new LUTCF consists of a series of online, self-paced, educational modules. Each module can be accessed via a student’s personal computer and contains both audio and video elements. LUTCF instructional designer Angela Gomez, PhD, BCBE, believes these self-paced micro-learns are highly beneficial.

“Adult learning theory operates under the premise that adults have a great need to be self-directing or ‘in charge’ of their own learning,” she explained. “These self-paced eLearning modules will afford the learner the opportunity to complete the coursework when their schedule permits and when their environment is best suited for learning.”

LUTCF is especially relevant to younger advisors who are determined to thrive during their first five years in the business.

While the curriculum provides a broad base of industry and product knowledge, a core focus is the fact finding, prospecting, sales, and closing skills that are essential to a successful career in the industry.

“We are excited to bring back the completely retooled LUTCF designation,” said NAIFA CEO Kevin Mayeux. “Many of our most successful NAIFA members cite the LUTCF program for giving them a needed boost early in their careers. Now, we have revised and updated the LUTCF content to increase its value for today’s advisors.”

Each LUTCF module includes instruction in a specific topic area, such as whole life insurance, annuities, and estate planning products. These modules are housed within three courses required to complete the LUTCF designation:

• Course 2: Investment and Protection Products • Course 3: Wealth Management, Retirement Planning, and Estate Planning

To ensure that LUTCF students understand and apply the course content, they complete a student learner guide in conjunction with each of the educational modules. Fieldwork guides include course-related questions to be discussed with the students’ mentors. Students are encouraged to choose mentors who they know within the profession. However, NAIFA will provide a NAIFA member mentor who has earned the LUTCF as necessary.

Get Your LUTCF Discounts Available for NAIFA 100% Agencies and Financial Security Champions The cost of the LUTCF program for NAIFA members is $350 per course. Successful completion of all three courses is required to earn the LUTCF. All three courses may be purchased at once for a bundled price of $900 ($300 per course). As a special thank you, NAIFA 100% Agency members and Financial Security Champions receive 10% off the purchase price.

The LUTCF designation is particularly useful and often thought of as the first designation you should earn in the industry because it teaches you how to sell and market financial services products. To encourage young advisors to undertake the designation, we have bundled in a year of membership for non-members noting that you must be a member when the designation is conveyed.

Further, we know that many agencies and firms would like to have their young advisors go through the program together. To make this possible, we have a special discount for group blocks, as well as any individual that is part of a 100% Agency or Financial Security Champion group program, is eligible for a 10% discount.

For more information visit tdc.naifa.org/lutcf or contact Brendan Bernat, NAIFA’s Senior Director of Member Engagement, at bbernat@naifa.org.

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FEATURE | DIFFERENTIATE

The Jordanian Effect: Enjoying Vitality Through Service to Others

By Suzanne Carawan

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ossibly one of the most impressive things about Joe Jordan is his self-deprecating humor. For a man that has circled the globe countless times, inspired tens of thousands of financial advisors, and received every accolade known in the industry, his ability to acknowledge that he’s still figuring it all out is a breath of fresh air for those of us who still think there’s so much to learn.

Starting from his childhood and continuing throughout his career, Joe was continuously thrown into one unknown situation after another that required him to perpetually adapt to the environment in which he found himself.

His ability to reflect on the various inflection points in his life and identify them as character building made up most of our conversation for this article. The consistent pattern to every one of Joe’s stories is his ability to meet the challenges that came his way with a wide-open heart and mind. Whether he realized it or not at the time, his willingness to learn, his work ethic, his team mentality, and his self-proclaimed humorous naiveté created in him a winning formula for not just his 50-plus year career, but his life.

The Early Years While life insurance would end up being a pivotal part of Joe’s career, he didn’t realize the significance of his early experiences until he was well into his 30s. His father, a successful attorney, died in a car accident when Joe was an infant. There was no life insurance and his family was faced with a dire financial situation. His mother expected to be a stay-at-home mom while raising her four children. Instead, she had to adapt to this dramatic shift in the family’s lifestyle and seek employment.

In spite of the limited resources, Joe and his siblings all attended Catholic school, which was of the utmost importance to his

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mother. By the time Joe got to high school, he was able to pay his own tuition by working at after school jobs.

Playing football had a profound effect on Joe’s life and personal development beginning at Mount St Michael Academy High School. The structure, the physicality, and the coaches of football served Joe as substitute male role models and provided a system in which he could thrive.

He went on to play college football at Fordham University which was only a short walk from his family’s Bronx apartment.

In football, Joe found a passion for winning as a team through service to others. His ability to play for his teammates, with gratitude for the opportunity and without expectation for personal victory, resulted in numerous collegiate team wins and earned Joe All-East and All-State honors multiple years in a row. Without working with the end in mind, but just doing the hard work required in each play and within each game, Joe was eventually inducted into Fordham’s Athletic Hall of Fame.

Expanding Servant Leadership During Joe’s college years, he said “yes” to an opportunity to get involved with the Catholic Big Brothers organization. His self-deprecating reflection again speaks to the lack of personal ego involved in his decision-making.

“I didn’t think about it much—I just did it,” was how he

FEATURE | DIFFERENTIATE

“A life of significance is not a sprint; it’s a marathon.” explained getting involved. He knew what it was like to grow up without a father so it seemed like a natural choice.

“Others had done it for me, and I knew it was a good program, so I just got involved.” Little did Joe know that saying “yes” to serving others would be the key to opening his future career door in financial services. As Joe’s good Irish luck would have it, one of the men on the Big Brothers Board of Directors was a former New York Giants football player who sold insurance. Joe was quickly tapped to interview with Home Life which had a college division.

Joe’s job would be to sell a life policy and a loan policy.

Students would put down $10 and get a loan. Again, Joe didn’t think too much about it, but knew he was wellknown on campus and had no problem talking to people.

When he learned that Home Life had a two-step selling process, it sounded just like a football playbook, so he was confident he could follow what the new business coach was saying, and it would work out. Joe’s belief system once again proved a winning formula and he was soon talking to everyone—so much so that by the time he graduated, his fellow seniors teased him that “Joe Jordan called me, too.”

Breaking New Ground Joe continued to sell and quickly found himself surrounded by much older agents and high-end producers making far more sophisticated deals than those to which he was accustomed. Once his college network was exhausted, Joe learned that he needed to prospect or not eat. Following a process based on consistent and predictable activity—one that he had honed from years of practice and games of football—Joe became Rookie of the Year and an MDRT producer. When a job opened at Paine Webber, he interviewed and could not believe it when they hired him with a $60K/year salary and a guaranteed $25K bonus. Joe knew nothing about Wall Street, but he figured if he had gotten this far, he could go even further and so he “faked it ‘til he could make it.”

What Joe didn’t know about investments, Wall Street didn’t know about insurance. When the Baldwin United Insurance Companies were shut down by the Insurance Commissioners Joe was in the middle of the crisis. He found himself with the “hot phone” talking to 6,000 brokers and their clients. The Commissioners announced

that investors would get their money back in three and a half years at a much lower interest rate. That’s when he most appreciated the wisdom of Will Rodger’s famous quote, “Don’t tell me about the return on my money, tell me about the return of my money.”

Moving On Up Joe’s ability to establish lifelong relationships is another hallmark of his success. Time and time again, Joe found himself the beneficiary of mentors that vouched for him, and Joe’s typical humility found himself in amazement that high caliber people saw value in him and his work. To this day, Joe credits some of career development to his mentor Bob Benmoshe and remembers with fondness when Don Nicholson of Paine Webber pulled all the senior managers together and told them he never thought he would see that in one day where insurance revenues would exceed equity revenues and Joe knew that was due, in part, to his work.

Joe was made a Vice President at Paine Webber and given the nickname “The Jordanian.” In typical Joe fashion, he reflected on his painful move into a corporate VP spot and noted that he “was too stupid to know that people were coming at me,” but his mentors and his trust in the process helped Joe to succeed.

Joe found himself moving to MetLife and going from teaching stockbrokers to do insurance, to teaching insurance people how to do annuities.

Joe thrived in helping advisors overcome objections and Continued on page 16...

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FEATURE | DIFFERENTIATE

the day that he realized the fundamental difference— that brokers are asset-gathers, and insurance agents are inherently income-gatherers—Joe became a true bridge between disciplines and his teaching and speaking career was born. When Joe put these two pieces together and realized that people want one person to handle all aspects, it was the beginning of financial planning and the start of diversified income streams.

Life Lessons While at MetLife, Joe started to reflect on the real meaning of his father’s death, his family upbringing, and what a comprehensive financial plan would have done for his family. He was the product of a household that had to choose who got to go to college—and it wasn’t his sisters.

“People remember 6% of what you told them and 100% of how you make them feel,” he said. Joe took this approach and transformed the me-first sales culture into a service culture. Becoming fascinated with the consequences of the decisions that people make and in taking care of people, Joe understood that the issue at hand was no longer “dying too soon” but “living too long.” This was the next phase of his career that Joe embarked upon—and still is in today— talking to people about living a purposeful life. Joe saw too many cases of incredible isolation and loneliness past retirement—feelings that the pandemic only exacerbated.

He set out to meld together all his training, experiences, lifelong faith, and belief in systems and processes to create a new way to view longevity through the lens of vitality.

Joe, now in his 70s, views himself as a servant-leader. He is now all smiles but will tell every sold-out room in all seriousness that people need to belong to organizations with greater purposes than themselves. It is the root of Joe’s passion for NAIFA and why he is still out travelling most of every week to challenge his audiences to embrace life and to continue to innovate forward. His message to all advisors is the same. It is not about maximizing revenues; it is about maximizing life. Joe now can see how all the pieces have fit together for him and he now can say that he has indeed lived a life of significance that just keeps getting richer every day that he gives back.

“People remember 6%

of what you told them and 100% of how you make them feel.”

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CENTERS | TALENT DEVELOPMENT CENTER

NAIFA Asked the Experts: Why is NAIFA’s newly updated LUTCF designation program so crucial for financial professionals new to the business?

“The LUTCF program proved valuable to me in that it provided the foundation for a career as an advisor.

Prospecting, product knowledge, needs programming, closing, running a practice, it’s all there. Anyone wanting to serve others in this industry would benefit from the nutsand-bolts information contained in the LUTC courses that lead to the LUTCF designation.”

Tom Cothron LUTCF, FSCP NAIFA President-Elect Ocala, FL Loyal member since 1981

“I entered the business with no natural market and no formal training at the beginning of one of the most severe recessions in history.

All statistics indicate I should have failed.

My LUTCF coursework provided knowledge and techniques to successfully engage prospects, but it also taught me I wasn’t alone in my early struggles.

Learning and sharing with other agents early in their careers helped me believe I could succeed if I committed to providing knowledgeable, caring service.”

“I owe much of my success in the business to the LUTCF program. It was the 1st designation I received and what I learned was invaluable when I was new to the career.

I taught the program over 18 times and even learned more moderating it than I did taking the course by the sharing of perspectives and interaction with others of different backgrounds. When I entered management, it was a requirement if you wanted to be in my team. I am extremely thankful that NAIFA is bringing it back.”

Laurie A. Adams CFP, CLU, LUTCF, LACP Peoria Heights, IL Loyal member since 1982

John Wheeler CFP, CLU, ChFC, CRPC, LUTCF, LACP, CLTC Houston, TX Loyal member since 1973

“I did not realize what financial planning truly was. The LUTCF program gives you such a good framework.

It teaches you all the different components of not just a financial plan but how businesses are organized, how products are taxed. I now have getting the LUTCF as a requirement at my firm for anyone new we hire.”

Brandon Smith MBA, LUTCF, CLU, ChFC Chesterfield, VA Loyal member since 2016

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MEMBERSHIP

Go All In for NAIFA

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early 50 agencies have said “YES” to commit to having their staff be a NAIFA 100% Agency. These agencies coupled with our 10 Financial Security Champions are making an impact on our membership growth. We have more than 500 members who are a part of our 100% Agency or Financial Security Champions program.

When your agency or firm becomes part of one of these programs, you will receive: • Personal landing page on NAIFA’s consumer site under “Find a Firm/Agency” • Press Release distributed in your local market • Agency spotlight in the Advisor Today blog with a distribution of over 80,000 industry professionals • Discount for members in the agency on the LUTCF designation and LACP certification • Group discounts to attend NAIFA’s Signature Events (Apex, Congressional Conference, and National Leadership Conference and Belong awards celebration) • Discount to educational programs such as LUTCF and LACP Add your firm’s logo to our growing list of participants. Contact us at recruitment@naifa.org to learn more about these programs and to enroll.

Financial Security Champions

Northern Florida

100% Agencies

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CENTERS | TALENT DEVELOPMENT CENTER

UC

100%

AGENCY

E AT

AD VO C

ED

AT E

Are You All In? DIFFERENTIATE

NAIFA's 100% Agency and Financial Security Champion programs allow your agency or firm to fully support NAIFA membership while promoting and elevating your agency/firm's brand. Participating firms and agencies are listed on our consumer site and receive additional publicity and program discounts. Learn how your agency or firm can display the 100% Agency or Financial Security Champion logo and be a part of NAIFA Nation.

Contact us at recruitment@naifa.org for more information.

Our agencies and firms that support NAIFA are proudly displayed to consumers at

www.financialsecurity.org FALL 2023

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MEMBERSHIP

NAIFA Hard Hat Winners Go Above and Beyond for Your Association

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ince 2020, NAIFA has awarded a quarterly Hard Hat Award to members moving the needle on NAIFA membership. In 2023, Grassroots and IFAPAC began recognizing members doing the hard work in their respective areas. Membership, Grassroots, and IFAPAC are the core principles of NAIFA and make up the Trifecta Committee. We recognize our 2023 winners for Q1, Q2, and Q3. Thanks to these members for their dedication to our association and their efforts to help move NAIFA Nation forward!

Membership Hard Hats

Thanks to Tim Westerman’s recruiting efforts, we added 24 new or reinstated members to NAIFA Nation! As a Sales Leader for State Farm in Chesapeake, VA, Tim feels that “paying your NAIFA membership dues is paying for an insurance policy premium put in place to protect our livelihoods.”

Rich Coffin currently serves as NAIFACalifornia’s Membership Chair whose engagement at an industry event resulted in 10 new members. Earlier this year, Rich was on the podcast, Insurance After Dark and explained to the listeners the importance of being a NAIFA member.

Lynn Schreder is NAIFA-Iowa’s Immediate Past President and current Membership Chair. Lynn and her business partner Brenda Eckard (NAIFA-Iowa 2024 President) put their money where their mouth is and became a 100% Agency, bringing more than 20 members to NAIFA. She has also referred multiple agencies to join the 100% Agency program.

Mike Herring led from the front, organizing meetings on Capitol Hill with all of the Nebraska delegation during Congressional Conference. He ensured that all NAIFA-Nebraska members were assigned to their meetings as well as answering all questions that members may have prior to going on the Hill.

Dori Phillips is a leader when it comes to NAIFA advocacy, working tirelessly to ensure that NAIFA-Utah is continuously engaging with their lawmakers at the state and federal level. During the Summer In-Districts, she organized an event with around 50-60 NAIFA-Utah members that had all members of Congress and their insurance commissioner.

Grassroots Hard Hats

Fred Joyner is a top advocate for NAIFA and has worked tirelessly to close federal gaps as well as state gaps in his home state of North Carolina. He organized a Financial Security Advocate presentation for NAIFA-North Carolina members to earn their FSA badge. Fred played an instrumental role in planning their state legislative day.

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MEMBERSHIP

2023 IFAPAC Hard Hat Winners

Elie Aharon recruited 13 brand new contributors to IFAPAC in one day! He is a member of the Triangle Team, past president of the NAIFA-San Francisco Peninsula chapter, and served that local as a membership chair, grassroots chair, and IFAPAC chair. Elie has also served multiple terms on the National Government Relations Committee as well as in the role of North Carolina’s IFAPAC chair.

Andra Holmstrom hosted NAIFAAlaska’s first fundraiser and knocked it out of the park. This event featured a combination auction and wine tasting.

We are #NAIFAproud of her creative and out-of-the-box thinking to execute a successful event! Andra has been a loyal NAIFA member since 2020 and started serving as the state IFAPAC Chair in 2021.

Besty Pate invited the entire pool of NAIFA-Virgina’s IFAPAC contributors to participate in the calls this year for the Candidate Selection Group. She hosted a couple of meetings to explain the process and answer questions as well as vote on who gets the support. Through this effort, Virginia was able to gain a handful of new volunteers.

NAIFA CHAPTER EXCELLENCE AWARDS

NAIFA Chapters Shine

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he Chapter Excellence Award was launched this year to recognize the success of those Chapters that have excelled in providing a quality member experience to their members, as determined by their Chapter Agreement Compliance, their Chapter Health Rating, and membership growth. Congratulations to this year’s Chapter Excellence Award winners!

Platinum Arkansas Memphis Montana South Carolina Tennessee Virginia Gold Columbus Iowa Maryland New Jersey Northeast Florida Tampa Bay

Silver Greater Foothills Greater Philadelphia Hawaii Kansas Los Angeles Louisville Mississippi Nebraska Northern Virginia Pennsylvania Pineywoods of East Texas Richmond

Tidewater Upstate Vermont Bronze Alabama Florida Minnesota New Mexico San Antonio Utah

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CENTERS | TALENT DEVELOPMENT CENTER

The Path to the Presidency Runs Through LILI

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raduates of NAIFA’s Leadership in Life Institute pledge to give back to the association by serving in volunteer positions for at least two years. Sometimes, they go above and beyond.

Look at our current and upcoming NAIFA Presidents, for example.

President Bryon Holz, CLU, ChFC, LUTCF, CASL, LACP, President-Elect Tom Cothron, LUTCF, FSCP, and Secretary Doug Massey, LUTCF, CLU, ChFC, FSS, (in line to be 2025 President) are all enthusiastic LILI alumni.

Continuing the tradition is Chris Gandy, LACP, who has been nominated to serve as the 2024 NAIFA Secretary putting him in line to be the 2026 President. He is also a LILI graduate. In fact, 13 of the 15 NAIFA Presidents prior to this year are LILI grads.

When LILI graduates fulfill their service pledge, they are giving back to their colleagues and the industry that has led them to professional success. But they are also giving back to themselves. LILI’s growth doesn’t end when the classes are over. Being a NAIFA volunteer brings its own rewards, including differentiating our leaders among their peers.

Sometimes, it even leads to high office.

Tom Cothron, Christopher Gandy, Byron Holz and Doug Massey,

Advisor Today Podcasts Spotlight Top Performers

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inancial professionals learn from the best in the Advisor Today Podcast series. Episodes feature lively interviews with some of the brightest stars in the insurance and financial services industry and related fields.

Learn what makes top producers tick and how they have achieved success. From Harry Hoopis’s success tips to Joe Jordan’s advice for overcoming the difficult reality of our industry, podcast guests offer the secret sauce that has propelled them and other top advisors to the apex of performance.

Other guests include motivators, communications and marketing experts, and business coaches. Among them are Jamie Hopkins, John Wheeler, Lynne Franklin, and Morris Morrison.

Advisor Today Podcasts are available online at at.naifa.org/podcast and through popular podcast platforms like Amazon Music, Apple Podcasts, Google Podcasts, Stitcher, TuneIn, Deezer, iHeartRadio, and others.

If you have an interesting industry success story and would like to be featured on an Advisor Today Podcast, let us know at at.naifa.org/podcast.

Advisor Today Postcast series spotlights Lynne Franklin, Harry Hoopis, Jamie Hopkins, Joe Jordan, Morris Morrison, and John Wheeler.

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FALL 2023

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GRASSROOTS

NAIFA Members Take Advocacy Home

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uring the Congressional recess this August and early September, NAIFA members around the country met with lawmakers in their home districts. They held more than 130 meetings during which they built and bolstered relationships and strengthened NAIFA’s grassroots influence.

NAIFA-IA members with Rep. Mariannette Miller-Meeks

NAIFA-NE members with Sen. Pete Ricketts

NAIFA-SC’s Aubry Fitzloff and Bruce Pope with Sen. Lindsey Graham FALL 2023

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NAIFA-MO’s Jennifer Hodges, Julie Kudrna, and Craig Wright with Rep. Eric Burlison

NAIFA-NC members with Rep. Virginia Foxx

NAIFA-WI members with Rep. Mark Pocan

NAIFA-TX’s Jason Talley and Michelle Talley with Rep. Monica De La Cruz

NAIFA-MA’s Adam Sachs, Josh O’Gara, and Jennifer Shepley with Rep. Jim McGovern

NAIFA-OK members with Rep. Tom Cole

NAIFA-NC’s Kevin Joyner, Janice Stevens, and Katie Small with Rep. Jeff Jackson

NAIFA-TN members with Rep. David Kustoff

NAIFA-WI’s Richard Balch, Ben Borchardt, and Heather Lindsley with Rep. Mike Gallagher FALL 2023

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IFAPAC

NAIFA’s 2023 Terry Headley Lifetime Defender Award Recipient John Davidson Advocates by Building Relationships

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ike most financial professionals, John Davidson, LUTCF, FSS, understands the importance of relationships. But he expands the concept of relationship building beyond his professional practice to his passion for advancing NAIFA’s advocacy mission. Throughout his career, he has built and maintained relationships with lawmakers by meeting with them in person in Washington, D.C., and their home districts, working on their campaigns, and contributing to NAIFA’s IFAPAC. A NAIFA National Past President and the President and CEO of Davidson Insurance and Financial Services in Moorpark, CA, Davidson’s political involvement résumé makes him a deserving recipient of the third annual Terry Headley Lifetime Defender Award.

Davidson is a founding member of the NAIFA Congressional Council and is a regular participant in NAIFA advocacy events, including the annual Congressional Conference, Summer InDistrict Meetings, and California state legislative days. Current members of Congress Davidson has met with recently include: Tom McClintock (CA-4), Mike Garcia (CA-27), Kevin McCarthy (CA-23), Zach Nunn (IA-3), Ralph Norman (SC-5), Kevin Hern (OK-1), Julia Brownley (CA-26), and Senator Kyrsten Sinema (AZ).

He is a Platinum level IFAPAC contributor. He has completed NAIFA’s grassroots training course and holds the Financial Security Advocate badge. In 2010, Davidson was a candidate for U.S. Congress in California’s 23rd Congressional District and finished second in the Primary.

Lawmakers Listen to People They Know “It is those same types of relationship-building skills that we use in our everyday practices that we need to employ in dealing with our legislators at the state and federal levels,” Davidson wrote in an article for InsuranceNewsNet magazine. “Believe it or not, they are people just like our friends and clients. But, in the same way that we would invite friends over for dinner, stop by their offices, or send them a kind note from time to time, we can build relationships with those legislators too. It is vitally important that we have solid, genuine relationships with those

NAIFA Past President John Davidson with Rep. Tom McClintock

legislators BEFORE we need to ask for a meeting to discuss important matters that impact our clients, communities, and industry.”

The Terry Headley Legacy The Terry Headley Lifetime Defender Award recognizes a current NAIFA member who shows exemplary service to their profession, colleagues, and clients through their political advocacy and contributions to IFAPAC. NAIFA is the leading advocacy association for producers in the insurance and financial services industry, working for positive legislative and regulatory outcomes at the federal, interstate, and state levels. NAIFAPAC is a leading insurance political action committee with associated PACs in every state supporting selected candidates for legislative office. Participation in advocacy initiatives is one of the ways that association members are “good NAIFA citizens,” a concept Davidson has taken to heart throughout his career.

Former NAIFA President Terry Headley, LUTCF, LIC, FSS, had a long, distinguished record of service to NAIFA. He was recognized as a key NAIFA contact for multiple members of the Nebraska Congressional delegation and state legislators over the years. Headley served in leadership roles at the local, state, and national levels. He was also an IFAPAC Capitol Defender and Co-Commander-in-Chief.

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Become an IFAPAC Defender Today!

Learn More www.naifa.org/ifapac

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