Unlike Vegas, what happens in DC doesn’t stay in DC In fact, the actions of Congress can have a profound impact on insurance and finance professionals across the country as well as families and businesses. Who are our customers.
Taxes, retirement planning, long-term care, education savings, health care, P&C insurance, annuities, etc. Whatever products and services we offer and wherever we operate, legislation shapes the financial landscape of our clients. It determines how and if we are able to guide them to financial security and help them achieve their life goals.
I believe that being politically active and involved is as important to serving the best interests of my clients as recommending the right coverages or financial plans. Clearly, laws and regulations can work for or against the best financial interests of Main Street Americans. As guardians of their financial well-being, advocacy on their behalf should be another of our services.
Our elected officials, I sincerely believe, want to do what is best for their constituents, but the laws and regulations are complex and can have misguided or unintended consequences. As seasoned professionals in our industry, under the direction of advocacy organizations like NAIFA, we understand better than our clients – and often better than lawmakers themselves – how government policies promote or hinder financial security. It is important for us to share our understanding and defend the interests of our customers.
This month, the 118th United States Congress meets in Washington. Many first-year legislators who have very little understanding of our industry and its benefits to people’s lives will take the Congressional oath of office for the first time. The same scenario is playing out in state legislatures across the country. Insurance and finance professionals are perfectly positioned to bring these novice legislators up to speed. But even legislators who have been in office for years, even decades, benefit from hearing our message. They can never know too much or care too much about the financial security of Americans.
I recently returned from Washington and the NAIFA National Leadership Conference, where I went to Capitol Hill with several of my professional colleagues. I had a very productive meeting with Rep. Scott Franklin from my home state of Florida. It wasn’t my first rodeo. I’ve been a grassroots advocate at the federal and state levels for years. I know from experience that our elected officials want to hear from us. They appreciate our contribution. They want us to share our knowledge of how their actions affect our customers and how they can help.
Again, our government at the federal level is almost evenly split between the two political parties. And while they have their obvious differences, there is one thing they have in common. They want to serve and they need the support of their diverse constituencies in their home districts and on the main streets of the country.
These are the same people we serve as financial professionals, the families and Main Street businesses that drive our economy and strengthen our nation. We may or may not agree with our legislators. We may or may not have voted for them. But I have learned from my experience as a political advocate and from my participation in NAIFA’s nonpartisan advocacy events that I can effectively serve as a resource and be influential with lawmakers on both sides of the aisle.
When we discuss issues that affect our industry and our customers with members of Congress, state legislators or their staff, it doesn’t matter whether we are Democrats, Republicans or Independents. Our problems are people problems. In our advocacy as well as in our practices, we serve the best interests of our clients. We are all members of the Financial Security Party.
As we reflect on how we can be better professionals and better serve our clients in the new year, I urge every finance professional to consider the importance of policy advocacy. Communicate with your legislators when they are in your home district or take advantage of opportunities to visit them in Washington. The annual NAIFA Congress conference will be held May 22-23. More than 500 officers and advisers will gather from across the country to meet in small groups with their legislators. It’s a great way to get involved.
You can make a difference. As professionals serving your clients and your communities, it is in their interest to do so.
