The National Association of Insurance and Financial Advisors (NAIFA) has redesigned and relaunched the Life Underwriting Training Council Fellow (LUTCF®) program, a three-course training series for one of the most sought-after designations in the insurance industry. Since 1984, NAIFA’s LUTCF has prepared more than 70,000 insurance and financial professionals to excel in the industry and is often the first designation successful agents and advisors earn.

The LUTCF course of study is ideal for financial professionals in their first five years in the business and offers valuable instruction on prospecting, selling, and practice-management. It also provides program graduates with a working knowledge of insurance and investment products available to help clients manage risk.

“Completing the LUTCF was one of the most instrumental things in my career success,” said Brandon Smith, MBA, CLU, ChFC, LUTCF, a NAIFA-Virginia member and executive vice president at Milestone Financial Solutions in the Richmond, VA, area. “I went to grad school and completed my MBA before I came into this business. I had my Series 7, my Series 66, but 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 things are taxed, you name it. I now have completing the LUTCF as a requirement at my firm for anyone new who we hire.”

Over the past year, NAIFA has completely reworked and modernized the LUTCF curriculum to make the best use of advances in technology and reflect current insurance industry conditions. The new LUTCF is specifically designed for early-career financial professionals and those who have entered the business via mid-career changes. Course content consists of a series of educational modules presented as self-paced micro-learns. Each module can be accessed online by students and contains both audio and video elements.

“Adult learning theory operates under the premise that adults have a great need to be self-directing or ‘in charge’ of their own learning,” said LUTCF instructional designer Angela Gomez, PhD, BCBE. “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.”

To receive the LUTCF designation, candidates must:

• Successfully complete three courses in the LUTCF education program, including fieldwork assignments and student-learner guides completed with the input of a mentor from the industry.
• Pass the end-of-program LUTCF examination.
• Complete the designation application, which requires applicants to be NAIFA members in good standing who agree to abide by NAIFA’s Code of Ethics.

The new LUTCF program emphasizes the value of mentors in the insurance and financial services profession. Fieldwork guides include course-related questions to be discussed with the students’ mentors. Students are encouraged to choose mentors they know within the profession. However, NAIFA will provide a NAIFA member mentor who has earned the LUTCF as necessary.

LUTCF designation holders must renew their designation authorization every three years by completing a renewal application and earning three approved continuing education credits in the subject area of ethics within the three-year authorization period.

“Insurance and financial services is a difficult business to break into and establish yourself. It’s no secret that the washout rate is troublesomely high,” said Laurie A. Adams, CFP, CLU, LUTCF, LACP, chair of the LUTCF Advisory Group. “It is vital to the health and sustainability of the insurance and financial industry that more early-career professionals survive and thrive. It is also vital to the financial security of tens of millions of American families and small businesses. NAIFA has worked with industry experts and leading professional education course designers to modernize the LUTCF program and ensure that it gives today’s early-career financial professionals a leg up in the business. The new LUTCF is designed to give financial professionals in their first five years advantages they need to make it and effectively serve their clients.”

Registration for NAIFA’s LUTCF program is now open. Candidates who complete the educational courses and fulfill the other designation requirements generally earn the LUTCF within one year of beginning the program.

Founded in 1890, the National Association of Insurance and Financial Advisors is the preeminent association for financial service professionals in the United States of America. NAIFA members, in every Congressional district and every state house, subscribe to a strong Code of Ethics and represent a full spectrum of practice specialties to promote financial security for all Americans. Complimented by its professional development and consumer divisions, the Society of Financial Service Professionals, and Life Happens, the association delivers value through advocacy, service, and education.

The National Association of Insurance and Financial Advisors NAIFA supports the newly introduced Congressional Review Act (CRA) resolution disapproving the DOL’s final fiduciary-only rule that will negatively impact and impose new costs on middle- and low-income savers, as well as financial services professionals. CEO Kevin Mayeux, CAE, sent letters personally thanking Representative Rick Allen and Senators Joe Manchin, Ted Budd, and Bill Cassidy for introducing the resolution in the House and Senate, respectively. ACLI, NAIFA, Finseca, IRI and NAFA also issued a joint release supporting the CRA review.

Read the letter to Representative Allen: https://2635471.fs1.hubspotusercontent-na1.net/hubfs/2635471/CRA%20Allen%20letter.pdf.

Read the letter to Senators Manchin, Budd, and Cassidy: https://2635471.fs1.hubspotusercontent-na1.net/hubfs/2635471/CRA%20Senate%20letter-1.pdf.

“The Department of Labor failed to learn its lesson when its very similar 2016 fiduciary-only rule failed in the face of a lawsuit brought by NAIFA and others,” Mayeux said. “The current rule will harm the very people the DOL claims to want to protect–low- and middle-income savers–by depriving them of retirement-planning products and services. Financial professionals are required by the SEC’s Regulation Best Interest and annuity-transaction rules and laws in place in 45 states to serve consumers’ best interests. The DOL has decided to ignore these robust protections and impose an additional layer of restrictions on consumers and financial professionals. We thank Representative Allen and Senators Budd, Cassidy, and Manchin for their leadership and urge Congress to adopt the CRA resolution.”

Founded in 1890, the National Association of Insurance and Financial Advisors is the preeminent association for financial service professionals in the United States of America. NAIFA members, in every Congressional district and every state house, subscribe to a strong Code of Ethics and represent a full spectrum of practice specialties to promote financial security for all Americans. Complimented by its professional development and consumer divisions, the Society of Financial Service Professionals, and Life Happens, the association delivers value through advocacy, service, and education.

Finseca is pleased to announce that Anthony T. Mazzei, Sr., chairman and founding partner at National Financial Network, an agency of The Guardian Life Insurance Company of America (Guardian), will be honored with the prestigious Finseca Hall of Fame Award at the Leaders and Managers Program (LAMP) 2024 in Denver, CO. Mazzei, along with just two other financial security professionals, is being inducted into the 2024 Hall of Fame class because of his demonstrated commitment to leadership, mentorship, advocacy efforts, and improving the lives and financial security of countless clients.

“Tony’s leadership resonates not just within Finseca, but across our entire profession,” remarked Bonnie Godsman, Finseca’s president. “His enduring commitment to the service of his clients and leaders within his firm and our entire profession, exemplifies unparalleled dedication. This recognition is truly merited, and we extend our heartfelt gratitude for his extensive years of service.”

“Tony’s mission is to change lives and make a difference,” said Michael Ferik, head of Individual Markets at Guardian. “Over the past four decades, he’s done exactly that. From his leadership roles in Guardian’s Field Advisory Board and General Agency Mentor Program to his ongoing support of various philanthropic causes, Tony has been a champion of his clients, colleagues, and community. His induction into the Finseca Hall of Fame is a fitting tribute to his work, and we know his efforts to elevate the industry will only continue.”

“A lot has changed in the past forty years,” Leyla Lesina, head of Individual Markets Distribution at Guardian. “No matter what’s happened, however, Tony’s commitment to supporting the well-being of others has been a guiding light for the industry. He is deeply admired and respected by his peers and his counsel is coveted by clients. Tony embodies what it means to be a General Agent and Finseca has made an outstanding choice in inducting him into its Hall of Fame.”

Mazzei has been in the financial services industry for nearly 50 years. He has served in almost every role in the industry: Advisor, managing director, senior home office executive, but most of his time has been spent as a general agent. Mazzei has a unique skill that was identified early on in his career. He empowers others and aligns them with a role that gives them the opportunity to use their unique abilities.

Finseca’s Hall of Fame Award is regarded as the highest honor bestowed upon distinguished insurance and financial security leaders. Nominees were evaluated by the Hall of Fame Selection Committee, which assessed each nominee’s history and accomplishments in four categories:

• Advancing the art and science of agency/firm building.
• Advancing the mission and work of the financial services industry.
• Enhancing the quality of public and private life.
• Promoting professional education in the financial services industry.

For more information about the Finseca Hall of Fame Awards and this year’s inductees, please visit finseca.org/communities/leadership-awardees.

At Finseca, they know that financial security improves people’s lives and protects their livelihoods and future wellbeing. They are rising to the challenge of increasing financial security for all. Finseca represents the men and women of the financial security profession who dedicate themselves to delivering financial security to their clients every day.

The Inter-Company Marketing Group (ICMG), the non-profit association that fosters business networking among insurance and financial services companies, has named Allen Bress, president of AIM Marketing & Insurance Services, Inc., of Scottsdale, AZ, as the recipient of the 2024 Don Kampe Lifetime Achievement Award.

The Don Kampe Lifetime Achievement Award is the highest honor awarded by the ICMG. This award was established in 2001 to recognize ICMG members who have made significant, ongoing contributions of time and resources for the benefit of the organization. The award was named in honor of Don Kampe, who served on ICMG’s first board of directors, was president for two terms, and continued to be active in board and committee work for 24 years.

Mr. Bress’s entry into the insurance industry in 1968 marked the beginning of an innovative and impactful insurance career. He has founded three reputable companies, showcasing a deep commitment to providing invaluable insurance benefits to the public. Since joining ICMG in 1993, Mr. Bress has been a consistent and enthusiastic advocate for the organization, energetically encouraging others to participate as well.
Beyond ICMG, throughout Mr. Bress’s 50-plus years in the insurance business, he has been active in many other conferences and organizations. He has served on multiple boards, including the Mass Market Insurance Institute, PIMA, Voluntary Benefits Association, and the NAILBA Charitable Foundation. His induction into the Workplace Marketing Association’s Hall of Fame and a founding role in the California Association of Health Underwriters speak to his influential presence and visionary contributions.

This year’s Don Kampe Lifetime Achievement Award was presented by ICMG’s Executive Director, Larry Sigle, who said about Mr. Bress, “It’s evident that his unwavering dedication, visionary leadership, and profound industry impact make him a deserving recipient.”
The ICMG’s 2024 Annual Conference was held February 5 to 7, 2024, in Miami, FL. This was a milestone year for this exceptional conference, as attendees celebrated the 40th anniversary of the event. More information about the organization and its 2024 conference can be found at ICMG’s website, www.icmg.org.

The Inter-Company Marketing Group (www.icmg.org) is the premier non-profit association that fosters strategic alliances among insurance and financial services companies, providing targeted networking opportunities, sharing of knowledge, experience, and resources for successful inter-company alliances. Among ICMG’s members are marketing and business development decision-makers with insurance carriers, reinsurers, distributors, third-party administrators, and other related companies in the insurance business. Find ICMG on LinkedIn or visit www.icmg.org to learn more.

For more information, contact Larry Sigle, executive director, ICMG, 316-252-3368, administration@icmg.org, or Chuck Hirsch, president, Hirsch Communications Consulting, 314-630-1387, charles.k.hirsch@gmail.com.

LIMRA and LOMA officially launched Industry Advantage, an enterprise-wide program that gives employees unlimited access to a deep and broad library of bite-sized content with topics focused on life insurance, annuities, and workplace benefits.

“LIMRA research shows more than a third of life insurers’ employees have been hired since the pandemic. These individuals may not have the foundational industry knowledge that would help them perform their job responsibilities most effectively,” said Carie Crane, vice president and head of professional development, LIMRA and LOMA. “We developed this curriculum to help our members onboard their new employees and keep their existing employees up to date on emerging industry trends, like artificial intelligence, underwriting advances, and elder financial exploitation.”

Industry Advantage is a cost-effective annual program that offers companies microlearning content compatible with companies’ learning management systems. This content provides relevant insights for new-to-the-industry staff as well as those seeking career advancement and deeper knowledge.

Industry Advantage leverages a microlearning approach, which research has shown has many benefits to the organization and the learner:

• Increased learner engagement. Providing learning opportunities that are available at the time of need means the learner has access to education and training that can be immediately relevant and useful. These employees are then more likely to feel invested in learning this content.
• Higher productivity. A Society for Human Resource Management study indicates that companies using microlearning saw a 130 percent increase in employee productivity, compared to companies not taking this approach. The targeted content conveyed through microlearning is more likely to be retained and immediately applied—which logically would increase productivity and efficiency.
• Narrower skills gap. The financial services industry is changing rapidly, driven by technological advancements and evolving consumer expectations. This just-in-time learning approach can help employers address skill shortages and remain adaptable to help employees gain the knowledge they need.

“LOMA has been the go-to resource for industry-specific professional development for nearly 100 years,” said Crane. “In an increasingly competitive environment, companies must arm their employees with the knowledge needed to succeed in their current jobs and provide the opportunity to develop industry expertise to allow them to advance in their careers. Industry Advantage helps companies develop a well-informed team of professionals that can propel the performance of the organization to achieve their strategic business goals.”

To learn more about Industry Advantage, visit: https://www.loma.org/en/professional-development/talent-mobility-suite/industry-advantage/.

Serving the industry since 1916, LIMRA offers industry knowledge, insights, connections, and solutions to help more than 700 member organizations navigate change with confidence. Visit LIMRA at www.limra.com.

Established in 1924, LOMA helps to advance the financial services industry by empowering more than 700 financial services companies to navigate change with confidence. Visit LOMA at www.loma.org.

LIMRA’s Applied Research Solutions will offer consultative research design and delivery to clients looking for fresh insights and approaches to company- or industry-specific challenges. Leveraging the association’s broader industry benchmarking and topical research program, the Applied Research Solutions team will focus on helping clients develop a deeper understanding of issues impacting their business. Focusing primarily on informing product, marketing, and distribution strategies, the new expanded team will build upon LIMRA’s existing expertise to provide clients with data and insights they can apply to a wider range of business decisions.

“In a market where companies are facing significantly greater regulatory and economic challenges, and profitable growth is increasingly elusive, business decisions are riskier than ever before. LIMRA is uniquely positioned to offer our clients the benefits of an experienced research team and a deep, expert understanding of the industry landscape. This combination enables us to provide superior value to our members over general research suppliers and consultancies,” said Sean O’Donnell, senior vice president, and head of membership. “By expanding our custom research capabilities, we can help our members get more value from the association by applying this expertise to an issue of interest to either a consortium of members or an individual client’s specific situation.”

Along with O’Donnell and the existing custom research team, LIMRA has named two executives to support the Applied Research Solutions business:

• Lai-Sahn Hackett will lead the Applied Research Solutions research team. In this capacity, she will be responsible for consulting with clients to design creative and valid research approaches that will uncover actionable insights into changing market dynamics and help clients maximize opportunities to meet their business goals. Hackett has more than a decade of experience leading market research, product development, and process improvement engagements for large employers and service providers in the insurance industry.
• Michelle Lorenz will lead the Applied Research Solutions sales and consulting team. With more than 20 years of experience developing and selling custom research solutions for clients across a variety of industries, Lorenz recently joined LIMRA after being vice president, client solutions at SAGO. She will be responsible for building valued customer solutions and insights, with a focus on the overall client experience, for LIMRA members who engage the Applied Research Solutions team.

The insurance industry is currently experiencing an unparalleled period of transformation. The application of new technologies—along with a shifting distribution landscape and evolving consumer expectations—is impacting the industry in new and significant ways. For more than a century LIMRA has been delivering unique benchmarks and research to help its members navigate industry change. Applied Research Solutions enables the association to take that idea further and provide a more focused, tailored application of research expertise to address these emerging needs.

“As our members have increasingly transitioned to a data-driven approach in their business practices, the demand for credible insights and analysis has never been greater,” said O’Donnell. “We believe that our research expertise and unparalleled knowledge of the industry enables us to provide our members with unique value as they strive to meet new and rapidly changing expectations and needs.”
For more information, visit LIMRA’s Applied Research Solutions at www.limra.com/en/solutions-and-services/applied-research-solutions/.

Serving the industry since 1916, LIMRA offers industry knowledge, insights, connections, and solutions to help more than 700 member organizations navigate change with confidence. Visit LIMRA at www.limra.com.

The Inter-Company Marketing Group (ICMG), the non-profit association that fosters business networking among insurance and financial services companies, has named Allen Bress, president of AIM Marketing & Insurance Services, Inc., of Scottsdale, AZ, as the recipient of the 2024 Don Kampe Lifetime Achievement Award.

The Don Kampe Lifetime Achievement Award is the highest honor awarded by the ICMG. This award was established in 2001 to recognize ICMG members who have made significant, ongoing contributions of time and resources for the benefit of the organization. The award was named in honor of Don Kampe, who served on ICMG’s first board of directors, was president for two terms, and continued to be active in board and committee work for 24 years.

Mr. Bress’s entry into the insurance industry in 1968 marked the beginning of an innovative and impactful insurance career. He has founded three reputable companies, showcasing a deep commitment to providing invaluable insurance benefits to the public. Since joining ICMG in 1993, Mr. Bress has been a consistent and enthusiastic advocate for the organization, energetically encouraging others to participate as well.

Beyond ICMG, throughout Mr. Bress’s 50-plus years in the insurance business, he has been active in many other conferences and organizations. He has served on multiple boards, including the Mass Market Insurance Institute, PIMA, Voluntary Benefits Association, and the NAILBA Charitable Foundation. His induction into the Workplace Marketing Association’s Hall of Fame and a founding role in the California Association of Health Underwriters speak to his influential presence and visionary contributions.

This year’s Don Kampe Lifetime Achievement Award was presented by ICMG’s Executive Director, Larry Sigle, who said about Mr. Bress, “It’s evident that his unwavering dedication, visionary leadership, and profound industry impact make him a deserving recipient.”

The ICMG’s 2024 Annual Conference was held February 5 to 7, 2024, in Miami, FL. This was a milestone year for this exceptional conference, as attendees celebrated the 40th anniversary of the event. More information about the organization and its 2024 conference can be found at ICMG’s website, www.icmg.org.

The Inter-Company Marketing Group (www.icmg.org) is the premier non-profit association that fosters strategic alliances among insurance and financial services companies, providing targeted networking opportunities, sharing of knowledge, experience, and resources for successful inter-company alliances. Among ICMG’s members are marketing and business development decision-makers with insurance carriers, reinsurers, distributors, third-party administrators, and other related companies in the insurance business. Find ICMG on LinkedIn or visit www.icmg.org to learn more.

For more information, contact Larry Sigle, executive director, ICMG, 316-252-3368, administration@icmg.org, or Chuck Hirsch, president, Hirsch Communications Consulting, 314-630-1387, charles.k.hirsch@gmail.com.

Finseca’s CEO Marc Cadin issued the following statement after California’s Governor Gavin Newsom signed into law SB 263, California’s version of the NAIC Best Interest Standard:

“We’re truly grateful for Senator Dodd, the California Department of Insurance (CDI), and the NAIC for their efforts to bolster consumer protections while maintaining access to holistic financial advice. We are witnessing the impact that a strong coalition fighting for financial security for all can have, and I’d be remiss if I didn’t emphasize the importance of the joint work that we’ve done under the leadership of ACLHIC, specifically with the help of the teams at the ACLI, IRI, NAIFA, NAFA and our own team at Finseca. California lawmakers took a strong stand today with the objective data we’ve seen from Ernst and Young–holistic financial advice provides better outcomes for consumers, and we should be finding ways to continue to expand on this. Our movement is gaining steam, and we won’t rest until we’ve achieved financial security for all.”

The National Association of Insurance Commissioners (NAIC) developed a best interest for annuity standard that served as the baseline that Senator Dodd and CDI expanded upon to create what CA SB 263 is today. The passage of this legislation and its being signed into law demonstrates the strength and importance of the state-based regulation of insurance that has been in place for decades.

During the 2023 LIMRA Annual Conference, LL Global, the parent company of LIMRA and LOMA, announced Adrian Griggs, executive vice president and chief operating officer, Pacific Life Insurance Company, will remain chair of the LL Global board of directors in 2024.

Caroline Feeney, executive vice president and chief executive officer, U.S. Businesses, Prudential Financial, was named vice chair and will succeed Griggs as chair in 2025.

“Our industry plays a critical role in supporting consumers’ lifelong financial security. The invaluable market knowledge and insights, incredible peer-to-peer networking opportunities and state-of-the-industry solutions that LIMRA and LOMA offer are vital to member companies, allowing them to make informed decisions for their businesses and better engage and serve their customers,” said Griggs. “I am honored to continue to work with the LIMRA and LOMA leadership team to help the organization advance its 2025 Compass strategy and position itself and the industry for the future.”

The LL Global board provides oversight and guidance to LIMRA and LOMA to ensure the strategic direction continues to meet the changing needs of member companies.

Ten new directors also will join the board:

• Rob Arena, co-president and head of individual markets, Global Atlantic Financial Group
• Marc Costantini, global head of inforce management, Manulife
• Will Fuller, president and chief executive officer, Transamerica
• Wade Harrison, executive vice president and chief retail officer, Protective Life
• Ron Herrmann, executive vice president and head of RGA Americas, Reinsurance Group of America, Inc.
• Paul LaPiana, head of brand, product and affiliated distribution, Massachusetts Mutual Life Insurance Company
• Denise McCauley, president and chief executive officer, WoodmenLife
• Margaret Meister, president and chief executive officer, Symetra Financial Corporation
• Kevin Molloy, chief financial officer, The Guardian Life Insurance Company of America
• Kamilah Williams-Kemp, executive vice president and chief insurance officer, Northwestern Mutual

“We are fortunate to have such a dedicated group of accomplished and knowledgeable leaders on our board of directors. Their perspectives, insights and guidance will have a tremendous impact on the future success of our organization,” said David Levenson, president and chief executive officer, LIMRA and LOMA. “I am particularly grateful to Adrian who has agreed to continue to lead our board in 2024. His wisdom and steady leadership were invaluable to LIMRA and LOMA this past year and have positioned us to better serve our members and achieve our strategic goals.”

LL Global is the non-profit parent company for LIMRA and LOMA. LIMRA and LOMA have a combined membership of more than 700 insurance and financial services companies in 63 countries worldwide.

Serving the industry since 1916, LIMRA offers industry knowledge, insights, connections, and solutions to help more than 700 member organizations navigate change with confidence. Visit LIMRA at http://limra.com.

Established in 1924, LOMA helps to advance the financial services industry by empowering more than 700 financial services companies to navigate change with confidence. Visit LOMA at http://loma.org.

Kevin Mayeux, CAE, CEO of the National Association of Insurance and Financial Advisors (NAIFA), issued the following statement on the proposed Department of Labor fiduciary rule expected to be made public:

“NAIFA is disappointed that the Department of Labor and OMB have decided to move forward with the misleadingly named Retirement Security rule. DOL’s attempt to rebrand its proposal does not hide the fact that it is the offspring of the department’s failed fiduciary-only model for advisory services that would limit consumers’ choices and curtail the access of many middle- and lower-income investors to individualized advice and services. This is the fourth time since 2010 the federal government has tried to expand fiduciary requirements for advisors. 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 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 the Securities and Exchange Commission’s Regulation Best Interest and state measures based on the National Association of Insurance Commissioners’ model best interest regulation for annuity transactions, both of which provide robust consumer protections and require financial professionals to work in clients’ best interests.

“NAIFA previously raised our concerns about the proposal with the Office of Information and Regulatory Affairs (OIRA) of the White House’s Office of Management and Budget (OMB) on October 6. Unfortunately, the administration did not take our concerns to heart. The White House’s new Fact Sheet on the rule unfairly characterizes the insurance and financial services industry and misrepresents the vital role agents and advisors play in helping clients prepare for retirement. Referring to legitimate compensation many advisors receive for their work as “junk fees” is insulting and unfair. It disregards the fact that many consumers are best served by models that include products delivered on a commission basis.

“NAIFA will analyze the proposed rule and 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.”

The National Association of Insurance and Financial Advisors is the preeminent membership association for the multigenerational community of financial professionals in the United States. NAIFA members subscribe to a strong Code of Ethics and represent a full spectrum of financial services practice specialties. They work with families and businesses to help Americans improve financial literacy and achieve financial security. NAIFA provides producers a national community for advocacy, education, and networking along with awards, publications, and leadership opportunities to allow NAIFA members to differentiate themselves in the marketplace. NAIFA connects with members in 267 different local areas between State Chapters, Local Chapters, and Local Affiliates. NAIFA members in every congressional district advocate on behalf of producers and consumers at the state, interstate, and federal levels. For more info visit http://naifa.org.