News & Press: Advocacy

Your Advocacy Team at Work

Thursday, September 10, 2015   (0 Comments)
Posted by: Liz Nelson
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This past Labor Day weekend, NAIFA-Iowa President Greg Johnson received an email from State Representative Dawn Pettengill asking for help with a political issue she thought affected our industry. The Department of Insurance was proposing a rule to require all Investment Advisors in the state of Iowa to have a written succession and business continuity plan in place by July, 2016. Rep. Pettengill had sponsored the insurance bill last year, and she knew there was nothing in there involving Investment Advisors, and she caught the information in time to ask our team for help. Our executive committee held a conference call first thing Tuesday morning to discuss the issue, and we felt that, even though we weren’t opposed to the intent of the rule, it was important for the rule to be presented through the normal legislative process instead of by an administrative rule behind closed doors. NAIFA-Iowa President Greg Johnson and NAIFA-Iowa Vice President Brent Hinerichsen headed to Des Moines that same day to attend the rules committee meeting to present our concerns. NAIFA-Iowa was the only association representing Investment Advisors at this meeting and, along with the help of several of the rules committee members, the Department of Insurance asked to have the proposed rule removed from their offering.

After the meeting, NAIFA-Iowa met with Department of Insurance staff to offer our assistance with drafting any future proposals on this issue. This is a perfect example of the grassroots advocacy work that NAIFA is trying to accomplish. We would not have known about this proposed rule change without having a solid relationship with Rep. Pettengill and, more than likely, our industry would have been subject to yet another regulation without having proper representation at the table. These relationships exist because of several years of hard work by our Advocacy Team led by Barry Delp and started by Paul Zietlow.

Mark this down as win for our members for now, and we encourage everyone to continue to take advantage of the opportunities NAIFA provides for you to get to know your local legislator.


National Association of Insurance and Financial Advisors-Iowa

600 State Street
Suite A
Cedar Falls, IA 50613