The partnership between the two groups helped defeat the DOL’s “misguided fiduciary regulation,” said Dent. “Going forward, ACLI and NAIFA will work closely to advocate for reasonable and appropriately tailored rules that require all sales professionals to act in the best interest of their customers. We look forward to working with the SEC, state insurance regulators, the Labor Department, FINRA and Congress on a harmonized and uniform best interest standard of care for investment advice,” he added.
In a video message piped into the NAIFA policy pep rally, outgoing ACLI President and CEO Dirk Kempthorne told the 850 agents via big-screen video that they should take a victory lap after all their successes. “Tomorrow you’ll be on the front lines, influencing the influencers,” he said.
The agent-lobbyists met with 90% of lawmakers or their staffs on May 23. “You guys are everywhere,” House Ways and Means Chairman Kevin Brady (R-TX) told the 40-member NAIFA delegation from Texas when he saw them, according to Boyle.