NAIFA President Says Membership Decline Not Due To Name Change
To The Editor:
As president of the National Association of Insurance and Financial Advisors, I feel I must comment on Steven Brostoffs article of June 11, 2001–”NAIFA Membership Off 8% To 76,000.”
NAIFAs membership decline the last few years is due to many factors, but certainly not the associations name change as his article implies. In fact, the delegates of the National Association of Life Underwriters (NALU) voted in September 1999 to change the associations name to the National Association of Insurance and Financial Advisors (NAIFA) as a first step to reposition the organization in a rapidly changing financial services marketplace.
As you are aware, the entire financial services industry was in a state of redefining itself, a time that affected all membership organizations–not just NAIFA. In fact, our decline tracked with the decline in the total number of agents nationwide, as companies struggled with compliance issues and overall recruitment fell well below previous years levels. Since the name change, NAIFAs leadership has vigorously developed innovative programs and services to retain and attract new members, including many programs designed specifically for financial advisors.