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MESSAGE FROM NAFA

The NAFA Annuity Distribution was held in San Diego in October and was a huge success. The NAFA staff received a number of positive comments on the meeting content, the beautiful location at the San Diego harbor and the ability to interact with many people in our industry.  We appreciate all of the carriers, the IMO’s and our vendors who helped to make this one of our best meetings. We also want to thank Brian Mann, the NAFA Chairman of the Board for suggesting the San Diego location; the weather was perfect during our stay in California.

At the meeting, the winner of the Bo Johnson Spirit Award for Lifetime Achievement was awarded posthumously to David Noble, the founder of American Equity Investment Life Holding Company. This award recognizes courage, spirit and determination, inspires others to achieve, and works to improve the fixed annuity marketplace. Mr. Noble had all of these qualities and many, many more; our industry suffered a huge loss with his passing in April of 2017. The award was announced by Adi Johnson, the daughter of Bo Johnson who is memorialized by the award. NAFA board member Kirby Wood, Chief Marketing Officer of American Equity, delivered a very meaningful tribute to Mr. Noble.

NAFA continues to work on your behalf on numerous issues – recently tax reform and how our industry would be effected by the changes the House and Senate have proposed. We have been working closely with other trade groups in the financial services industry to make sure that retirement planning and other aspects of our business were preserved so Americans could continue to use insurance and securities products for their retirement planning. At this time, the final details of tax reform have not been resolved but, we feel confident that our efforts will be successful.

We continue our fight against the DOL; I know you have heard those words before from me as we have been fighting this battle for two-and-a-half years now. The story of our battle for fixed annuities in the state of Illinois is the same, with many delays in the Illinois courts; that case has also been going on now for almost 3 years. We have many NAFA members who are advising us and helping us on these issues, along with the law firms in Washington, D.C. and Illinois. We hope to have some decisions on both of these cases next year. We thank the committees, the board of directors and all the membership for their support in our efforts.

On behalf of the NAFA staff, we thank you for your support in 2017 and we wish you all a safe and happy holiday season.
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Charles R. “Chip” Anderson
Executive Director, NAFA

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