NEWSLETTER

spring 2018

2017-2018 Officers

PRESIDENTChristopher J. Pia, LUTCF, CLTCNew York Life

PRESIDENT ELECT OPEN

SECRETARYRobyn Z. ReillyNew York Life

TREASURERJerry S. Flowers, LUTCF, CLTCAmerican General Life & Accident Insurance Company

NATIONAL COMMITTEEPERSONBrian Ballou, CLU, LUTCF, FSS Columbus Life Insurance Company

IMMEDIATE PAST PRESIDENT Frank C. Emanuele, Jr., MBA, FICF, LILIKnights of Columbus

EXECUTIVE DIRECTORMark A. Male New England Association Services, LLC

NAIFA-CT

Telephone: 401.732.2400Facsimile: 401.732.1708

www.naifact.org

What has NAIFA Connecticut done for you lately? Great question. Some of the answers are very concrete and easy to see. We continue to raise our continuing education levels at no cost to members each year. Our newsletters are a conduit of information so you can keep up to date on various matters from the DOL fiduciary rule (stricken the Fifth Circuit Court of Appeals – NAIFA was one of the plaintiffs) to upcoming meetings and events. What you don’t see is the legislative advocacy – something so esoteric it is essentially invisible.

Unless you pay close attention to the legislative activity happening in Hartford,

you probably wouldn’t realize NAIFA CT has a contract lobbyist who monitors introduced bills that can adversely impact your clients, and in some cases, you and your practice. We might be considered an unsung hero if every financial advisor realized the hard work we do protect our industry. And these efforts cost money. Whether we like it or not, we spend dues money to be vigilant and protect our collective interests. Unfortunately whether you belong or not has no impact on our commitment. We must exercise our energy to stand watch and engage whenever bad legislation is introduced or when good legislation needs to be advanced. Remember non-members benefit from our successes at the State House – so make sure you tell an associate who doesn’t belong that they owe you and every other dues paying member for carrying them (and tell them membership costs less than $50 per month!).

So you’re probably wondering why I am banging the advocacy drum so much. The national Congressional Conference is in May and it is our opportunity to darken the hallways on Capitol Hill in Washington, D.C. and call on our elected federal delegation. It is pretty heady stuff – I know, I’ve done it before. And while the impact may not seem significant, when we start calling on them in their home district offices, with the dots to connect and suddenly there is more meaning and ability to educate those individuals who can make or break our industry.

In closing, please consider supporting IFAPC and attending the Congressional Conference (registration information is on our website at www.naifact.org). Get involved and bring some others like minded professionals with you, we’re much stronger as a whole than as individuals!

President’s Message

Christopher J. Pia, LUTCF, CLTCNew York Life

I have belonged to NAIFA for just about my whole career, starting when I was convinced by a mentor that as a professional, it was important for me to belong to NAIFA to demonstrate that I took my profession seriously.

What started as a professional obligation turned into something that has helped me grow tremendously as a professional.

Networking with professionals with varying degrees of experience helped me gain knowledge and confidence when dealing with my clients. I am able to speak with authority on issues that affect our industry and about how products work in a way that my company training only scratched the surface.

I took that to the next level about seven years ago when I made my first trip to Washington, DC to speak on behalf of the industry to Connecticut’s congressional delegation. There, I was given the tools to speak truth to power and to advocate for myself and my industry. I also widened my network of professionals that has helped me in ways that I did not

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NAIFA EventsBrian Ballou, CLU, LUTCF, FSS

know was possible at the time.

That same year, I was able to attend my first NAIFA annual conference. There, I had exposure to platform speakers and break-out sessions that helped me expand my career and knowledge base further. I received sales ideas that I was able to bring home and apply immediately.

I would urge you not to miss this opportunity, and we have two of them coming up! On May 22nd-May 23rd, we are sending a delegation of professionals to DC for the annual congressional conference. If you decide to go, you will receive the support you need to meet with political leaders representing the state and learn about issues that are most likely to affect our industry in Washington. Then, from September 13-16, we will be having our annual conference in San Antonio, where we will have the opportunity to meet new and existing leaders and gain industry knowledge that is invaluable. There may be an opportunity for NAIFA-CT to sponsor new attendees to either of these events, so please reach out to us at www.naifact.org or email us at hello@naifact.org.

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Legislative Updates

The 2017 legislative session was historic, lasting well past the five-month legislative session. The State Senate was evenly split between Democrats and Republicans for the first time in 124-years. With 18-members each, the Senate had to learn how to share power both at the committee level and in the Senate chamber and that need has continued into the 2018 legislative session. Democrats control the 151-member State House 80-71 Republicans, so it’s hard to pass legislation that does not have bipartisan support. A bipartisan budget was agreed to between the House and Senate without the support of the Governor, who is not running for reelection. 2018 is an election year for the legislature and Governor and the bipartisan agreements may be put on hold as both parties play to their base heading into November, and that includes leaving any budget deficit in the current fiscal year to be addressed after the election. The bills raised so far are not yet indicative bipartisanship as they proceed through the public hearing stage. It has yet to be determined which bills that the House and Senate can agree in a bipartisan way before the legislature adjourns on May 9th.

The Insurance & Real Estate committee, as well as other committees, have raised many bills that could impact NAIFA-CT members. Your voice matters so stay tuned for requests to call your legislators where you live and work. The list below is an example of the bills:

• SB 203: An Act Concerning Continuing Education Credits.

• HB 5027: An Act Establishing A Personal Income Tax Credit For Long-term Care Insurance Premium Payments.

• HB 5386: An Act Concerning Various Pay Equity And Fairness Matters.

• HB 5029: An Act Establishing An Income Tax Deduction For Able Account Deposits.

• HB 5145: An Act Concerning Long-term Care

Josh Hughes, Esq.Capitol Consulting, LLC

Needs.

• SB 153: An Act Concerning An Income Tax Deduction For Long-term Care Insurance Premiums.

• SB 198: An Act Establishing A Task Force To Study Methods Of Developing, Expanding And Improving The Insurance Industry Workforce In This State.

• SB 374: An Act Requiring That Health Carriers Using The Connecticut Health Insurance Exchange Pay A Minimum Commission To Certain Insurance Producers.

• HB 5209: An Act Concerning Long-term Care Insurance Premium Rate Increases.

• HB 5395: An Act Concerning Training And Experience Requirements For Providers Of Services To Senior Citizens.

• HB 5396: An Act Protecting Victims Of Fraud By Certain Financial Institutions.

• HB 5497: An Act Prohibiting Certain Employers In The Securities Industry From Requiring Employees To Enter Into Noncompete Agreements.

• SB 474: An Act Protecting Elderly Adults From Financial Exploitation.

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I became a member of NAIFA soon after getting hired as an agent with NYL almost 18 years ago. My father, Ted Vartelas, also a NYL agent with 45 yrs. of experience at that time, insisted that I join. As a new agent, I was busy trying to learn as much as possible, gain clients, manage expenses and frankly just stay in the business but I joined anyway. I figured that if he was a member it must be worthwhile and perhaps had even contributed to his tremendous success and the fact that he was a leader in the Southern CT area for decades. I went with him to lunch meetings, CE credit events and the annual career conferences when we could. I continued to be a member for many years however, it wasn’t until April of 2013 when I went to Washington DC to attend the NAIFA Congressional Conference and met with my members of Congress, that I had an awakening and true appreciation of the role that NAIFA plays in advocating for the best interests of our clients, our industry and ultimately our livelihoods. It impacted me enough to become and remain a NAIFA Board Member and to continue to go to DC and Hartford when I can.

To all of the veteran members that have tirelessly served and advocated for our interests as Americans and advisors for decades, I thank you.

To those of you yet to join, I admonish you to get involved and take action in some capacity. Your help and talents are needed and there is strength and impact in numbers.

At the very least, think of your membership as an insurance policy that protects the viability of your business!

For more information, please visit www.naifact.org or contact me at 203-668-3008.

Yours in service,Robyn Vartelas Reilly

On Being a NAIFA MemberNAIFA CT Upcoming Events

NAIFA POLICY ON RECRUITING & ASSOCIATION ACTIVITIES

The official activities of NAIFA and its state and local associations shall not be used as a forum or means for individual members to actively or directly recruit other members to their companies or agencies (i.e., proselytizing). Association time and resources must focus on NAIFA’s mission to advocate for a positive legislative and regulatory environment, enhance business and professional skills, and promote the ethical conduct of our members. Proselytizing is not consistent with this mission and is not appropriate association business. This policy shall not be constructed to interfere with an individual member’s freedom to recruit others on their own time, in connection with their own business affairs, apart from association activities. This policy also shall not be constructed to preclude company or agency advertising, exhibits, or sponsorships, in connection with association publications or activities.

ANNUAL CAREER CONFERENCE

Wednesday, June 06, 2018 8:30 AM - 2:00 PMAqua Turf Club, 556 Mulberry St, Plantsville, CT