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 CEO Marc Cadin released the following statement on the Proposed Fiduciary Standard of Conduct for “Improving Investment Advice for Workers and Retirees:

Thank you Acting Assistant Secretary Wilson, Deputy Assistant Secretary Hauser, and the other members of the panel for this opportunity to discuss the Department’s proposed class exemption and its new interpretation of fiduciary investment advice.

AALU/GAMA and NAILBA, appreciate the opportunity to submit comments on the Department of Labor’s (“Department”) notice of proposed class exemption (“Proposed Exemption”) regarding the provision of non-discretionary investment advice to Employee Retirement Income Security Act (“ERISA”) retirement plans and participants, Individual Retirement Accounts or Individual Retirement Annuities (“IRA”) and other types of tax-preferred accounts subject to IRC Sec. 4975.

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.”

This book is for you if you enjoy a conversational writing style, examples of success from both in and outside the profession, and extremely practical action items. Each chapter ends with a “Things to do Monday Morning,” and the authors include 5 case studies in innovation from outside the profession contextualized for the life insurance profession.

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