Finseca announced today that it has completed previously announced plans to combine with another financial professional group, the National Association of Independent Life Brokerage Agencies.
NAILBA will now be known as “NAILBA, a Finseca Community, according to Finseca.
Marc Cadin, Finseca’s CEO, said the group is just getting started with life insurance and financial services organization consolidation.
Since 1890, when the National Association of Life Underwriters came to life, “the profession has had a history of splintering apart into smaller groups that don’t have the business model or scale to drive this profession forward,” Cadin said.
The Groups
Finseca was formed in July 2020, through a merger of AALU — a group that represented estate planners and other high-end life insurance and annuity planners — with GAMA International.
GAMA International represented the general managers who ran life insurers’ regional distribution offices.
Finseca has also absorbed Forum 400, a networking group for successful life insurance advisors.
NAILBA started up in 1980. It has represented independent life, health and annuity distributors.
Dan LaBert, former NAILBA CEO, will be the president of Finseca’s brokerage division and executive vice president of communities and member experience, Finseca said.
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