A Professional Association of Insurance and Financial Advisors
March 2022 Edition
Pre-Registration is required, RSVP today
ADVANCE REGISTRATION AND PREPAYMENT
CE CLASS: “Taxing Times: Six Important Strategies for the Current Tax Environment”
1-hr. CE Class: Credit for Florida insurance, CFP, CIMA and CPE. Approved for Investments & Wealth Institute CE.
Florida CE Course #: 116667
Course Authority: Generic Life, Health and Variable
Course Level: Intermediate
Presented By: Allianz Life Insurance Company of North America.
Description: While clients may find comfort in larger balances in their retirement plans, they may not appreciate the effect taxes will have on their retirement income. The closer a client gets to retirement, the more important it is to hold conversations regarding strategies for decreasing future taxation.
We invite you to a CE event for “Taxing Times: Six Important Strategies for the Current Tax Environment” where we will introduce varying approaches to consider to potentially position your client for enhancing income while reducing taxes.
Please use the registration link below and sign up today to become better equipped to help clients understand the need to consider one or all six taxation strategies with their tax advisor. Implementing these strategies in their drawdown scenarios can help lessen their tax burden and reach their retirement goals.
Date: Wednesday, March 16, 2022
Time: 11:00 AM, Registration and Lunch
12:00 PM, 1-Hr CE Class
Location: Fort Lauderdale Country Club
415 E. Country Club Circle
Fort Lauderdale, FL 33317
Meeting Type: On-Site
Price: Members: Lunch: $28.00
Non-Members: Lunch: $40.00
It is your responsibility to verify the CE course is not a repeat of a prior course, taken less than two years from the previous one. The Internet address to check your State CE credits and compliance periods is located at: http://dice.fldfs.com/public/pb_index.aspx
Note: You must arrive on time for the CE Class to receive credit. Anyone arriving after 5 minutes into the class will not receive CE credit. Please know your license number, and bring a photo ID.
We just completed “I Love NAIFA Month.” Members from across America took advantage of the new member referral promotion. Congratulations, to those members who earned a $10 Starbucks gift card. Although the promotion has ended we encourage every NAIFA-Broward member to refer new members at every opportunity. Please make sure you send your referral to www.naifa.org/join and have them add your name to the referral field! It’s also a great opportunity to create and use your own personal referral link. Getting your link is easy; just create a NAIFA connect profile at www.naifaconnect.org and it will generate automatically! Post in your emails, social media posts and via any other opportunities that apply.
NAIFA-Broward continues to provide member value through continuing education events, networking opportunities and sales ideas. Last month Susan Luskin of Diversified Administration, Inc. providing Section 125, HRA and COBRA administration, moderated our February program titled “IRS 226J letter.” Each agent attending this virtual continuing education class received one hour of Florida CE. We really appreciate quality moderators like Susan who provide relevant information that assists our members serve their clients.
This month I am excited that we are having an in-person Florida approved continuing education program hosted by Allianz Life Insurance Company. I am really looking forward to a great program and visiting with you. Please see above for details and registration information.
Are you interested in getting more value out of your membership? Email email@example.com with More Value in the Subject line and your contact information in the email to learn more.
Michele Thomas, BSC
- Why be a member?! Advocacy- See firsthand the important of strong membership in Washington DC. Congressional Conference: NAIFA’s annual fly-in to Washington, D.C., called Congressional Conference, is crucial to our grassroots advocacy strategy. The event brings insurance and financial professionals together as a critical mass to advocate on behalf of their businesses, clients, consumers, and the insurance and financial services industry.
- https://advocacy.naifa.org/key-wins See past wins that NAIFA worked towards for Taxation, Covid relief. Right now they are lobbying on your behalf regarding the PRO Act and how that bill would reclassify Advisors as “employees” vs independent contractors.
Welcome New/Reinstated/Transferred Members
Khadein Newman, Jakmokas Financial Svc, Inc.
Logan Mohring, Northwestern Mutual
Submitted by Michele Friedlander, RHU, REBC
Immediate Past President, Membership Co-Chairperson, & Sponsorship Chairperson
YAT Chair Report
Are you a new Financial Advisor? We have discounted membership rates!
Reach out to me at firstname.lastname@example.org for more information.
Submitted by Shir Keidan
Young Advisors Team (YAT) Chairperson
Unvaccinated to Pay More Out-Of-Pocket Under
New Covid Policies
Gary Haft, CEP
NAIFA-Broward Senior Council
National Committee Chair Report
NAIFA-Florida members from across the state gathered in Tallahassee for the first in person Day on the Hill since 2020. NAIFA-Florida President George Royal welcomed everyone and highlighted the importance of engaging with our legislators.
NAIFA-Broward members Joe Chalom, Steve Estler, Michele Thomas, Patricia Martinez joined with NAIFA-Florida Members Charles Edris, Mauricio Giraldo and first timer Lila Thropes met with nearly the entire Broward County Legislative Contingent both virtually and in person. NAIFA-President Michele Thomas stated her meeting was very well received. Legislators and their aides were very interested in hearing our views on the issues and the impact on our clients.
NAIFA-Florida lobbyist Tim Meenan advised us that our issues this year focus on property insurance reforms including Senate Bill 1728 by Senator Boyd containing the option to depreciate roofs older than 10 years but requires total losses and hurricane claims to be paid at the replacement costs of roofs older than 10 years. The second issue is the repeal and replacement of PIP with Bad Faith Reform.
There are several issues we are following including:
- Health Care Coverage for Nonprofits and Agriculture Cooperatives House Bill 1455 by Representative Truenow and Senate Bill 1930 by Senator Hopper.
- Monitor loss run statements House Bill 275 by Representative Fernadenz-Barquin and Senate Bill 156 by Senator Broxson.
- Contingency Risk Multiplier Senate Bill 1910 by Senator Gruters.
- Clarifying interest fees on IRAs and Individual Retirement Annuities House Bill by Representative House Bill 649 by Representative Driskell and Senate Bill 968 by Senator Polsky.
- Increased financial literacy for high schoolers House Bill 1115 by Representative Busatta Cabrera and Senate Hutson.
- OIR’s Bill strengthening the policy transfer process from unsound insurers by House Bill 695 by Representative Stevenson and Senate Bill 1058 by Senator Hutson
- Health Care Cost Savings Mandate House Bill 1325 by Representative Fernandez-Barquin and Senate Bill 252 by Senator Brodeur.
Florida Insurance Commissioner David Altmaier advised attendees their goal is to have a vibrant insurance market. One of the issues being discussed is the issue of roof replacements. One idea is to have a deductible for a roof replacement.
Commissioner Altmaier is not currently in favor of repealing PIP. However, he is open to discussion if studies show stabilization and decrease auto insurance.
Altmaier, stated he is open to having discussions with issues that are a concern to us. Attorney fees remain a problem in rising insurance costs. NAIFA-Florida member Jean Ausman asked the commissioner why the state does not currently offer short term home health care insurance. The commissioner invited us to have a discussion on this important topic. NAIFA-Florida member Mauricio Giraldo inquired about the challenges of finding replacement coverage for condominiums.
Representative Tom Fabrico District 103 including SW Broward and NW Miami-Dade responded to NAIFA-Florida President-Elect Jeff Chernoff question what the most effective way is to have an effective legislative meeting with keep focused and limit the issues presented.
Tim Meenan and Melissa Snively presented the Herb Morgan Memorial Award to NAIFA-Florida Lobbyist Tim Meenan. It was also announced that the award is being renamed the Morgan Meenan Advocacy Award.
CLU, RICP, LUTCF, LACP
National Committee Chairperson
IFAPAC Committee Chair Report
I am seeking a few NAIFA-Broward members interested in political advocacy to engage with other members to help raise PAC funds, seek out legislative connections, deliver PAC checks, and speak with legislators. If you are the type of person who wants to make a difference, contact me so we can determine if this committee is a good fit. email@example.com
CLU, RICP, LUTCF, LACP
National Committee Chairperson
Community Service Chair Report
The NAIFA-Florida Education Foundation was reestablished in 2015 to educate the public, NAIFA-Florida members, and those wishing to pursue a career in Financial Services.
As we secure funding we will offer the following initiatives:
- Programs through which NAIFA locals can provide workshops for the public educating them in the areas of insurance and financial services
- Scholarships for NAIFA-FL members to pursue Leadership in Life Institute (LILI) and Life Underwriting Training Chartered Fellow programs (LUTCF)
- Scholarships for those interested in pursuing a career in Insurance and Financial Services
For more information please reach out to one of our board members.
What is NAIFA? Why are we Here?
Founded in 1890 as The National Association of Life Underwriters (NALU), NAIFA is one of the nation’s largest associations representing the interests of insurance professionals from every Congressional district in the United States. NAIFA members assist consumers by focusing their practices on one or more of the following: life insurance and annuities, health insurance and employee benefits, multi-line, and financial advising and investments.
The mission of the National Association of Insurance and Financial Advisors is to advocate for the positive legislative and regulatory environment, enhance business and professional skills, and promote the ethical conduct of our members.
100% of contributions are tax deductible, 100% of monies donated go directly to the foundation, and our board is made up of all volunteers.
Please, Support your NAIFA_Florida Foundation:
Patricia A. Martinez
MBA, LUTCF, CLTC
Community Service Chairperson
Lee S. Gorodetsky
Save The Date – More Information Forthcoming
- 4/20/22 Hybrid Meeting, (via Zoom or In-Person lunch at Fort Lauderdale Country Club) ; 1-hr. CE Class, Titled: Solutions for Business Owners. This course for financial advisors will explain a broad range of goals and solutions that advisors can provide to business owners, to help them manage risk and meet their business objectives. Participants will also learn about income tax, regulatory and practical implications that affect the clients’ needs and each type of solution.