Marc Cadin, the chief operating officer of the Association for Advanced Life Underwriting (AALU) will succeed David Stertzer as the group’s chief executive officer in September, AALU announced Thursday.
The Reston, Virgina-based represents life insurance advisors with an interest in potentially complicated insurance matters, such as estate planning for large estates. It helps shape legislation that affects the estate tax, the gift tax, executive compensation and retirement savings.
AALU’s political action committee (PAC) raised about $1.2 million during the 2016 election cycle and spent about $1 million, according to OpenSecrets.org. The AALU PAC has spent about $519,000 for the 2018 election cycle and now has about $300,000 in cash on hand.
Stertzer has been the CEO of AALU since 1986.
Cadin, who has a bachelor’s degree in business from Villanova University and a law degree from Catholic University of America, has been working for AALU since 2000, and he has been the group’s chief operating officer since 2016.
Stertzer said in a statement that he is grateful to AALU’s members for helping to protect the financial security of American families and businesses.
“Representing our professionals in the life insurance community has been the finest honor of my career, but AALU is stronger than ever and ready for fresh leadership to take us to the next level,” Stertzer said.
Cadin “is leading a strategic planning process centered around membership growth and value,” AALU said.
AALU will brief members on that process at AALU’s annual meeting in Washington, which is set to start April 29, AALU said.
— Read AALU’s Outlook for the New Congress on ThinkAdvisor.