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MOUNTAINEER NEWS: THE LATEST MEMBERSHIP NEWS FROM NAIFA-WEST VIRGINIA ~ APRIL 2018
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OFFICIAL FAMILY:
Click HERE for NAIFA-West Virginia's Officers and Board of Directors
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President's Message
Stanley Hefner, LUTCF
NAIFA-West Virginia President
Greetings fellow NAIFA members!
I just renewed my 2019 Yellow Pages ad for the umpteenth time. The salesman who represents them came to my office with his brand new "iPad" type computer to take my order. He was thrilled to no longer handle so much paper and everything was streamlined. I thought to myself that there are very few places now that function without some sort of wireless device. Of course now our industry is no exception.
Because of the proposed DOL best interest contract proposal (that, as you know, has been set back until next year), our company now has produced a new computer program that actually does most of the recommendations online. All I do is educate and punch in the data. I just have to be logged in, ask the questions, take the electronic app and sign with an electronic signature. It's the same way with life insurance applications. I no longer have to see the client in person and I just utilize the electronic signature.
I said all that to say, "Where does that leave the agent if they keep getting more streamlined?" I don't know, but then where does that leave a lot of vocations? Although one thing is for certain, at least for now, home offices need people on the streets ferreting out the prospects. Maybe the Yellow Pages will be phased out before long, but not the agent in the field. So keep recruiting new members
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Stanley Hefner, LUTCF
President
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NAIFA-Charleston CE Class Opportunity
and Membership Lunch Meeting
Tuesday, April 10th, 2018
Edgewood Country Club
1600 EDGEWOOD DRIVE, CHARLESTON, WEST VIRGINIA 25302
9:30 - 10:30 AM, One-Hour CE Class, #103104:
Understanding Life Insurance
10:30 - 11:30 AM, One-Hour CE Class, #103269:
Life Insurance Benefits for the Living
11:30 AM - 1:00 PM:
NAIFA-Charleston Membership Lunch Meeting
SPECIAL GUEST SPEAKER
Senator Ed Gaunch
Representing West Virginia's Senate District 8
NO CHARGE
for NAIFA Members and
$40.00
for Non-Members
Includes lunch and CE filing fees!
For more information and RSVP, contact Executive Director John Pauley, CLU, ChFC, CLTC:
Phone
(304) 345-4343 or
Email
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Thank You to our Sponsors!
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For information on Sponsorship Opportunities with NAIFA-West Virginia, please contact Executive Director John E. Pauley, CLU, ChFC, CLTC at (304) 345-4343 or email
johnpauley@
ft.newyorklife.com.
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NAIFA ADVOCACY PAYS OFF:
Court Rules In Favor Of NAIFA, ACLI, And Others In DOL Fiduciary Rule Suit
From NAIFA CEO Kevin Mayeux, CAE
Dear friends,
When the Department of Labor first hinted that it planned to implement a new
fiduciary regulation for retirement planning advisors, NAIFA advocacy was ready. We have been there every day, every hour, working with members of Congress, regulators from two administrations, and the federal courts to ensure that the rule did not destroy your business or prevent lower- or middle-income Americans from getting retirement products and advice.
The hard work of our staff and members like you, along with the efforts of our industry partners, paid off time and again as regulators blunted some harmful provisions in early DOL proposals and delayed implementation of others.
When it was obvious that even after our efforts the DOL's regulation would harm advisors and consumers, we left no stone unturned. We leveraged all three branches of government, Congress, the administration, and the courts, working hand-in-hand with the American Council of Life Insurers and other partners to speak on behalf of our industry and protect your clients.
Last night, we won our
most important victory yet! The
U.S. Court of Appeals for the Fifth Circuit ruled in favor of NAIFA, the ACLI, NAIFA-Texas, and several of our locals in North Texas and has vacated the DOL fiduciary rule. This means regulations that would have made it difficult or impossible for advisors to serve clients with modest or moderate means are not just delayed, but are null and void.
This is a historic win for NAIFA. It is a historic win for the financial services industry. Most importantly, it is a historic win for advisors and their clients.
When the ruling was announced, NAIFA members voiced their approval.
"Thanks to our wonderful advocacy team at NAIFA. Proud to be a member!" said NAIFA member Ed Anderson on Facebook.
"Good things come to he who waits ... & perseveres! Thanks NAIFA for your perseverance & advocacy fortitude!" said Joe Anthes, also on Facebook.
More Work to Be Done
NAIFA members remain as dedicated as ever to working in their clients' best interests, and NAIFA supports rules to ensure all advisors adhere to that standard. Our advocacy efforts focused on the DOL regulation were never about that. Our point all along has been that it should not take 1,000 plus pages of confusing regulatory language imposing overwhelming burdens on advisors and their clients to achieve that goal. A regulation should obviously not harm the people it sets out to protect.
As the court's ruling states, "When Congress has acted with a scalpel, it is not for the
agency to wield a cudgel."
NAIFA will now work with the Securities and Exchange Commission as it develops a best interest standard that we hope will provide consumers with protection without creating unintentional barriers between advisors and their clients. Last week, NAIFA President Keith Gillies and I
met with SEC Chairman Jay Clayton to discuss NAIFA's support for a "best-interest" standard of care for advisors and the potential impacts of SEC regulations on advisors and their clients.
We will have additional meetings with the remaining SEC commissioners soon, and advisors attending the
NAIFA Congressional Conference, May 22-23, in Washington, D.C., will discuss the best interest standard with their members of Congress.
It's a great day when NAIFA members are able to see firsthand how NAIFA membership protects their business. Our strength is in our numbers and in the passion and dedication of advisors like you. This is why your membership is so important. Thank you for being a part of this historic win.
Best regards,
Kevin Mayeux
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 APPLICATIONS NOW BEING ACCEPTED!
YAT Leader of the Year
The YAT Leader of the Year Award recognizes an advisor's commitment to NAIFA, including service on local, state and national committees and participation in the Leadership in Life Institute (LILI); involvement with state or federal legislative efforts; participation in external service work such as charities; and an ability to inspire others.
APPLICATION DEADLINE IS MAY 5, 2018
Click
HERE for application.
NAIFA created the Young Advisors Team (YAT) for members who are 40 years of age and under, or within their first five years in the industry. The purpose is to ensure that young and new advisors receive the vital tools, resources, and networks necessary to succeed in the financial services industry.
For more information, please visit www.naifa.org/membership/early-career-young-advisors
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 New NAIFA Center To Advance Thought, Awareness In Long Term Care
Center created as consumer needs in LTC planning, advice increase in aging population
The National Association of Insurance and Financial Advisors will launch the NAIFA Center for Excellence in Long Term Care to equip agents and advisors with information, designation and educational resources in order to meet consumers' growing needs for advice and solutions in long term care. Carroll Golden, the Center's director, announced the launch before attendees of
ILTCI 2018, the Intercompany Long-Term Care Insurance Conference.
"The NAIFA Center for Excellence in Long Term Care is a 'one stop shop' solution for all things relating to LTC and the needs of an aging population," Golden said. "Through the power of a virtual, private online community, we will bring together solution and service providers, producers and thought leaders to network, share best practices and access research, training and expert advice on the latest trends and issues affecting the industry and consumers."
Scheduled to launch in mid-2018, the Center will be supported and housed on
www.NAIFA.org. Visitors will have 24/7 access to a range of information through multiple media platforms including videos, expert interviews, articles, case studies, webinars and infographics. Content will cover traditional and combination products, as well as worksite selling, short-term care, critical illness, reverse mortgages, claims management, senior housing options and robotics. Legislative and regulatory issues affecting the industry also will be presented.
NAIFA will support the general and administrative activities of the LTC Center, and sponsors will underwrite additional development and maintenance costs.
"Over the years, the long term care industry has heard the call to innovate with more products, expanded services, new research studies, and professional insights and training. That's the good news," Golden said. "The bad news is that with the plethora of solutions now available in long term care, it has become difficult for professionals, distributors and consumers alike to understand, let alone act upon the many options. The NAIFA Center for Excellence in Long Term Care will empower us to come together as an industry to communicate, organize and share information and intelligence so we may continue to address the changing needs of the LTC market."
Sharon Reed, Board Chair of the Intercompany Long Term Care Insurance (ILTCI), said: "We are pleased that NAIFA is joining in the effort to expand the accessibility to knowledge of all aspects of LTC care and costs. The extensive nature planned for the Center for Excellence in LTC should allow many professionals to access these communication tools and increase their knowledge on LTC innovations as we work together for LTC solutions."
CLTC (Certification for Long Term Care) is a founding sponsor of the NAIFA Center for Excellence in Long Term Care. CLTC President David Schmidt said: "Long term care planning is more critical than ever; it is a key asset protection. As the premier certification in the industry, CLTC is honored to be a founding sponsor of the NAIFA Center, and we appreciate the opportunity to be part of NAIFA's efforts to raise consciousness of the needs and solutions for effective planning. Together with NAIFA, we can educate professionals to confidently and competently assist clients in planning."
The Center will be governed by an Advisory Board of LTC thought leaders and sponsor representatives to contribute to strategy and oversight, as well as content, education, community development and advocacy.
NAIFA CEO Kevin Mayeux, CAE, said: "NAIFA is pleased to welcome Carroll Golden as director of the Center for Excellence in Long Term Care. As a recognized thought leader and expert in the LTC space, Carroll will position the center to serve as a critical resource for the industry, and for the many insurance and financial advisors who need assistance navigating the often-complex solutions available in long term care."
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 MEMBER BENEFIT OF THE MONTH
Tax Reform: The Final Edition
NAIFA Members-Only Webinar
Presenter:
Robert S. Keebler, CPA/PFS, MST, AEP of Keebler & Associates, LLP
What you really need to know to help your clients in a labyrinth filled with opportunity, statutory review & short - term/urgent and longer - term planning. Now that we know what's in the tax bill, it's critically important that advisors get quickly up to speed on how their best clients will be impacted. In this webinar, Bob will focus on the final language in the Tax Cuts and Jobs Act that the House and Senate agree to and explore the critical aspects of the Tax Cuts and Jobs Act. Bob will also review how the new pass-through income taxation rules work as well as attractive estate planning opportunities.
This simply is a "must see" webinar!
Ask a non-member to join NAIFA today!
NAIFA is the largest financial services membership association in the United States, comprised of more than 700 state and local associations representing the interests of 200,000 members and their associates nationwide. NAIFA's goal is to protect your livelihood and your clients' financial security.
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MEMBER ADVOCACY IN ACTION!
NAIFA 2018 Congressional Conference in Washington, DC
Tuesday, May 22nd and Wednesday, May 23rd, 2018
In the past four years, over 3,000 NAIFA members from every corner of the country came to Washington, DC and visited Capitol Hill to meet with lawmakers and advise them on how their decisions affect agents, brokers, and their clients.
NAIFA held its 2016 Congressional Conference to establish and cultivate relationships with lawmakers, to share the expertise of NAIFA members from all 50 states, and educate them on the value that NAIFA members bring to their clients and the solutions they provide for 75 million American families.
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 FROM ADVISOR TODAY:
Marc Silverman and Other Experts to Present at NAIFA's Performance + Purpose Conference
NAIFA members who are planning to attend the association's 2018 Performance + Purpose Conference are in for an experience they will never forget. The conference, which takes place September 13 to September 16 in San Antonio, promises to deliver everything that is on the wish-list of many attendees: a chance to give back to the community, unparalleled opportunities for networking, and top-notch presentations by some of the best speakers in the industry.
One of these speakers is Marc Silverman, CLU, ChFC, CFP, president of Silverman Financial in Miami. During his session titled, Prospecting Your Way to the Top, attendees will gain best practices on prospecting and marketing, and walk away with practical ideas they can implement as soon as they get back to the office.
When we caught up with Silverman recently, he explained why he chose to focus his presentation on prospecting and marketing. "Prospecting is the lifeblood of our business," he told us, "and it should be top of mind for all agents and advisors. It is the key to success in the business."
All agents and advisors need to prospect, Silverman stressed; if they don't, their business will suffer. But like many other disciplines, prospecting must be done in a consistent manner if advisors hope to achieve any level of success. So, they need to learn how to get in front of prospects and how to ask for their business. "If you don't prospect well and prospect consistently, you will soon be unemployed," he said.
For his part, Silverman focuses primarily on workshops and dinner seminars when he prospects. For one of these events, he recently brought in a star from Broadway to sing for over 200 people. "That was a huge success," he said.
Silverman has been in the financial-services industry since 1989. He is a highly sought-after speaker who has been invited to present at many high-level industry meetings. He decided to add P+P to his long list of speaking engagements because of the high regard he has for NAIFA. "Anything that NAIFA does is good for the industry and for members," he said. "So when I was asked to speak at the P+ P Conference, I said yes."
NAIA's P+P Conference for 2018 is a new kind of meeting - a meeting where you will learn from experts like Silverman, and also have a chance to be an expert yourself, thanks to Braindates - a new peer-to-peer learning system. And no matter what stage of your career you are in, you will find something at the meeting you can use to take your practice to a higher level of success.
Ayo Mseka
Advisor Today Editor-in-Chief
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Think BIG! Coaching & Training Newsletter
from Herman Dixon, CLU, CLF, LUTCF, LTCP
NAIFA-WV Past President, Speaker, Executive Advisor
Herman is the author of the forthcoming book, "Principles of Life and Leadership My Cat Taught Me" and guest speaker at the NAIFA-West Virginia 2017 State Convention in Charleston.
To connect with Herman Dixon, you may sign-up to receive his weekly Biz Tips or monthly Think BIG Newsletter here:
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 GOVERNMENT ADVOCACY
NAIFA's Mission Aided with IFAPAC and APIC
The core mission of the National Association of Insurance and Financial Advisors is advocacy. There is a common misconception that NAIFA membership dues include all the dollars needed to fund our national and state advocacy efforts. The fact is that NAIFA spends over 25% of its 12 million dollar annual budget to pay for lobbyists and programs to support our advocacy efforts. However, additional funds are needed to help gain access to our elected representatives. The source of these funds are from the Insurance and Financial Advisors Political Action Committee (IFAPAC).
IFAPAC's goal is to help the associations advance the legislative and regulatory interests of the members of NAIFA. While any U.S. citizen can contribute to IFAPAC, only members of NAIFA may be solicited to do so. Contributions must be voluntary. Contributions are not tax deductible for federal income tax purposes. Of approximately 4,600 political action committees registered with the Federal Election Commission, IFAPAC ranks in the top tier. IFAPAC is the largest insurance PAC in the country. In the last election cycle, the national IFAPAC contributed approximately $1.8 million to federal candidates and committees.
Insurance and Financial Advisors Political Involvement Committee (APIC)
Our business is based on building relationships. The world of politics is no different. One of NAIFA's greatest strengths is that we have membership representation in each Congressional District in the country.
It is vitally important that we know which of our members know elected officials and how well they know them. Please click on the link below and complete the legislative contact form:
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It Pays to Be a Member!
Check our website for the latest news and updates:
For more information, please contact NAIFA-West Virginia Executive Director John Pauley, CLU, ChFC, CLTC
at (304) 345-4343 or email [email protected].
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