Jennifer F. Shepley, CFP®, is a financial professional based in Massachusetts, with licensing across multiple states. She specializes in family and small business insurance, retirement income planning, and long-term care solutions. Her journey into the industry was a blend of serendipity and family tradition, shaped by the legacy of her father, who founded his insurance practice in 1959.

Advisor Today Guest Column

January of 2025 is the 50th anniversary to one of the most important pieces of legislation in the retirement planning arena ever put into law by Congress. What I’m referring to is the enactment of ERISA, the Employee Retirement Income Security Act. Without question, ERISA brought about significant changes during the second half of the twentieth century. The key component to ERISA, which became law on January 1, 1975, was the establishment of the Individual Retirement Account or IRA. And what a monumental impact IRAs have had on the retirement planning market from that day forward. According to recent data, approximately 55 million Americans (representing around 42% of all households) hold IRAs with the average balance being around $195,000 per taxpayer.

NAIFA members are invited to a free webinar, "Social Media Solutions for NAIFA Members: Campaigns, Stories, Tools," today, January 14, at 12 noon eastern. Presented by Life Happens Social Media Specialist Corey Goodburn, the presentation will provide an introduction to various social media platforms and how NAIFA members benefit from exclusive Life Happens content and services.

Tom Schmidt, CFBS CLTC LACP’s story is one of resilience, adaptability, and unwavering dedication. From an unconventional start in the life insurance business to becoming a highly successful financial professional, Tom has navigated a career filled with challenges and triumphs. Over the decades, he has built enduring relationships with clients, many of whom have been with him for over 30 years.

Tom entered the financial services industry in February 1988, stepping into a career he hadn’t anticipated. Leaving behind a job at Amoco, Tom was enticed by the promise of a more rewarding future in financial services. However, he quickly discovered that the role centered on life insurance, something he hadn’t been aware of beforehand. Despite the initial shock and challenges of working on straight commission, Tom leaned into his natural work ethic, his extensive network, and his determination to succeed. He shares, “For a newbie in the business, I had pretty good success right off the bat. But it wasn’t easy—I learned quickly that building trust and relationships was everything in this industry.”

Tom’s perseverance paid off, and over time he cultivated a thriving client base. Many of his first clients remain with him today, a testament to the loyalty and trust he inspires.

The January issue of the Journal of Financial Service Professionals has arrived, and it’s a must-read for anyone in the financial services community. A much-anticipated feature of this edition is the annual indexed retirement and Social Security numbers for 2025, conveniently presented in an easy-to-reference table. Whether you’re working with clients on retirement strategies or simply staying current on new regulations, this table is an invaluable resource you’ll find yourself consulting all year long. For over 75 years, the Journal has been recognized as one of the best and most prestigious publications in the financial services field.

According to the 2024 Insurance Barometer Study by Life Happens and LIMRA, 59% of U.S. adults use social media to find information about financial and insurance products. Recognizing this growing trend, Life Happens, now part of the NAIFA family, offers NAIFA-branded social media content covering life insurance, disability insurance, long-term care insurance, annuities, and general financial planning.

Happy New Year from your friends and colleagues at NAIFA. I hope you had a joyful and restful holiday season.

Joe Sparacio, CLU, LUTCF, CLF, a 30-year veteran of the financial services industry and loyal member since 1991, stands as a beacon of dedication and leadership. His career, marked by stints at major firms such as Prudential Financial, MassMutual, and now National Life Group, reflects a deep commitment not just to his profession but also to its broader impact. Joe’s journey illustrates the fusion of personal success, community impact, and industry stewardship, with a significant part of his story woven through his connection with the National Association of Insurance and Financial Advisors (NAIFA).