David Woods took the helm at the National Association of Insurance and Financial Advisors at a time when the organization was bleeding members, and its financial condition was deep in the red.
But following what has been a year of transformation, NAIFAs CEO feels confident about the future of the association. A recent audit of NAIFAs financials revealed the organization actually has added about $630,000 to its bottom line this year, compared to a year ago where it posted a loss of $2.7 million.
“We had a 3.3 million dollar swing in just one year, all the while sharpening our focus and becoming much more effective in areas like political advocacy,” says Woods.
“Its an unbelievable turnaround for just one year,” adds Randy Kilgore, president of NAIFA.
At NAIFAs recent annual meeting, the organization announced it was taking a “back to basics” approach by only focusing on 3 areas: political advocacy, ethical conduct and providing benefits that add to members bottom line.
Looking ahead, Woods says NAIFA will be working closely with the Life and Health Insurance Foundation for Educationwhere Woods serves as president. LIFE has created several marketing programs designed to help agents in the field explain the importance of life insurance to the public. “We [at NAIFA] are collaborating very closely with the LIFE Foundation to take their material, package it, distribute it and teach people how to use it,” he says.