AALU/GAMA CEO Marc Cadin released the following statement on the Proposed Fiduciary Standard of Conduct for “Improving Investment Advice for Workers and Retirees:
AALU/GAMA announced today that Josh Caron, former assistant vice president of political affairs, was promoted to vice president of legislative affairs. He succeeds Armstrong Robinson, who took over as senior vice president of government affairs in June. Jennifer Fox, former political affairs manager, was promoted to assistant vice president of political affairs.
Today, AALU/GAMA announced it will host a new on-demand series: Plugged-In. Each week, AALU/GAMA CEO Marc Cadin will interview the biggest names and most innovative leaders of life insurance carriers. The series is a part of Beacon: A Virtual Experience set to launch on July 22.
“The Department of Labor’s proposal safeguards consumer choice for the American people,” said Marc Cadin, CEO of AALU/GAMA. “Consumers benefit most from uniform standards that bring clarity about the protections they deserve from their financial security professionals. Our profession needs a defined set of harmonized, specific, and priniciple-based rules to govern market conduct. While we have some questions about some of the finer details of the proposal, especially as it addresses rollover recommendations, we look forward to working with the DOL to ensure consumers’ best interests are protected to make informed decisions for their financial futures.”
AALU/GAMA announced today that Armstrong Robinson, former vice president of legislative affairs, was promoted to senior vice president of government affairs. He succeeds Chris Morton, who left the organization in April to join the American Land Title Association. Robinson will oversee the public policy agenda, government affairs, and business strategy for the organization.
Marc Cadin released the following statement in support of the Paycheck Protection Program (PPP) Flexibility Act of 2020:
WASHINGTON, D.C. – AALU/GAMA CEO Marc Cadin today released the following statement urging Congress to restore funding to the Small Business Administration’s (SBA) emergency loan programs, the Paycheck Protection Program (PPP) and the Economic Injury Disaster Loan (EIDL) program, which were depleted last week:
“Small businesses are struggling to survive and support their employees,” said Marc Cadin, CEO of AALU/GAMA. “Many are stuck in limbo without feedback or answers on their applications. We at AALU/GAMA are inspired by our members to do everything we can to provide financial security to them, their clients, and all those in need. We thank the Senate for their action today and urge the House to move swiftly to provide additional and sufficient relief to help these businesses, which so desperately need it.”
AALU/GAMA has hosted dozens of webinars open to the public on the resources provided by Congress and President Trump to help small businesses and their employees weather the economic storm produced by COVID-19. Thousands have attended the series, and the AALU/GAMA team has responded to hundreds of individual questions. AALU/GAMA members continue to extend the reach of this valuable information to advise their clients.
Cadin continued, “The immense popularity of these programs reflects the acute need to keep businesses and our economy afloat. Most of our members are small business owners and are still waiting to hear if they will be able to keep their staff on board and establish a path forward. We are grateful for the relief Congress has provided thus far and hope to see quick action to prevent further economic damage.”
Visit the AALU/GAMA COVID-19 Action Center here.
WASHINGTON, D.C.—AALU/GAMA CEO Marc Cadin today applauded passage of the Coronavirus Aid Relief and Economic Security (CARES) Act, which was signed into law this afternoon. The CARES Act passed the House Friday, after the Senate approved the legislation unanimously earlier this week.
“The resilience of this nation is being tested,” said Marc Cadin, AALU/GAMA CEO. “We have a tough challenge before us, but with the CARES Act signed into law, Americans will receive critical relief to put the pieces back together. The COVID-19 pandemic has impacted the health of the global economy, how businesses operate, and the lives of our loved ones, and we all have to do our part to navigate this crisis together.”
The $2 trillion package provides loans and assistance for businesses of all sizes, direct payments to low- and middle- income individuals, and expanded benefits to the unemployed through July. In addition, people can access their employer-sponsored retirement funds without penalty up to $100,000, among other provisions.
Cadin continued, “We all have to do our part to ensure Americans have the necessary tools to restore their financial security, and we are here to help not only our members but every person in this profession and all the people they serve.”
In response to the pandemic, AALU/GAMA launched the COVID-19 Action Center for the financial security professionals to receive the resources they need to serve their business and clients. The portal features weekly webinars, podcasts, news updates, and exclusive content surrounding the global health crisis.
Emergency legislation will provide immediate relief to small businesses, health care providers, workers, and distressed industries
WASHINGTON, D.C.—AALU President and CEO Marc Cadin released the following statement in support of the Coronavirus Aid, Relief, and Economic Security (CARES) Act:
“This is a pivotal moment for our nation,” said Marc Cadin, AALU President and CEO. “Small businesses, many of which our members operate, and also serve as clients, are the backbone of our country, and it is critical that Congress acts to protect them, prevent our economy from even further damage, and for the millions of workers facing unemployment. We are no longer anticipating a health and economic crisis, it is here. We urge Congress to get this bill to the president’s desk to provide much-needed relief to our nation and those whose lives are in danger, and ultimately help put our nation back on the path to financial security.”
The legislation passed the U.S. Senate unanimously last night and will be voted on by the House on Friday. Recently, AALU launched the COVID-19 Action Center for the financial security profession. The website features webinars, podcasts, news updates, and exclusive content surrounding the global pandemic.
AALU, the Association for Advanced Life Underwriting, is the leading organization of financial professionals who provide life insurance and retirement planning solutions for individuals, families, and businesses. AALU has a rich history of success with a single focus on the issues impacting life and annuity products, and the clients its members serve. Headquartered in Washington, D.C., AALU is committed to providing its members with the essential tools and services required to help grow their businesses, serve their clients, and protect the financial and retirement security of the American people.
GAMA International is an independent national nonprofit organization 501(c) (6), founded more than 85 years ago. GAMA International is the only association dedicated to promoting the professional development needs and leadership skills of first-line and front-line leaders in the insurance, investment, and financial services industry.
AALU and GAMA International announced in July 2019 that they will be joining forces to create a new organization representing the financial security profession later this year.
Online resource center to help financial security professionals serve their clients and operate their business during the novel coronavirus crisis
Washington, D.C. (February 18, 2020) – AALU, the Association for Advanced Life Underwriting, and GAMA International today launched the COVID-19 Action Center. The Action Center features best practices and tools for advisors to navigate this time for their businesses and their clients. It includes timely updates on COVID-19, member insight on remote work or client management, and the latest policy news that will impact the profession.
“This is an unprecedented time when Americans need us most,” said Marc Cadin, president and CEO of AALU. “The way Americans conduct business turned upside down in less than a week. With increased restrictions and market swings every day, we created this resource center as a guide to help our members and the entire financial security profession to continue doing business and serving their clients.”
“Although businesses may be physically shutting their doors, they need all the help they can get to continue operations,” said Bonnie Godsman, CEO of GAMA International. “This is new territory for our members and our country, and more than ever, it shows the importance of this noble profession. We felt it was important to equip them with resources, tools, and information to navigate through this new normal.”
The action center is available to the entire financial security profession. Webinars, podcasts, and exclusive content will be added to the portal weekly with curated news updates daily. The website can be accessed here.
