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By 
May 25, 2022 at 03:19 PM
What You Need to Know
- Finseca was formed through a merger of GAMA International and AALU.
- AALU was known for its expertise on estate taxes, complicated annuity issues and other highly technical issues.
- For Finseca, one key topic is the uncertainty about the rules governing estate taxes.
Finseca celebrated its new, bigger size by saying hello to the District of Columbia.
The Washington-based advisor group gathered 626 advisor members in the nation’s capital this week for an advocacy summit that featured people such as Dean Cameron, the Idaho insurance director and president of the National Association of Insurance Commissioners, as the speakers.
Finseca members’ schmoozing could end up shaping the IRS rules and other federal rules affecting large estates, permanent life insurance policies, executive compensation arrangements, and private placement annuity and private placement life insurance arrangements.
Finseca is descended partly from the Association for Advanced Life Underwriting — a group known for its expertise on highly technical subjects involving life insurance, annuities, pension plans and wealth planning.
How Finseca Came to Be
Finseca was formed through a combination of AALU and GAMA International in 2021.
Finseca announced Friday that it has completed another major combination, with the National Association of Independent Life Brokerage Agencies. NAILBA is a group that has represented independent life insurance and annuity brokers and brokerage general agencies.
Marc Cadin, Finseca’s CEO, has argued that one reason for the combinations is to give financial professionals a louder, clearer voice in Washington.
Combining Finseca and NAILBA “will give us greater scale [and] greater unity of purposes and messaging,” Cadin said, in a comment included in the combination completion announcement.
