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NAIFA Members Serve Main Street USA

2 min read

Become a Life Insurance eRetailer With Digital Direct to Consumer Sales

By Ken Leibow on 6/22/21 9:30 AM

Selling Life Insurance using a digital platform on your website for consumer direct insurance tools is now the hottest trend! Now more than ever, consumers want to shop, compare, and apply for coverage online and on their terms. The goal is to make the experience of protecting loved ones with life insurance as simple and stress-free as possible. Here are some key reasons why digital life insurance sales has gained momentum: COVID requiring remote sales; 72 million Millennials (25–40-year olds) who would rather shop on their own; massive use of mobile devices averaging 3.8 hours per day; and social media usage 2.5 hours per day for adults in the USA.

Topics: Running Your Practice Technology Members FinTech
1 min read

NAIFA and Insperity Partnership Hits a Home Run with Houston Chapter

By NAIFA on 6/21/21 3:49 PM

Roger Clemens with NAIFA-Houston Leadership: (left-right): Kyle Lindner (2019 President),  Brian Monk (President-Elect). Roger Clemens, Betsy Assad (President), Rick Demko (2020 President).

The strategic partnership between NAIFA and Insperity kicked off on Thursday, June 17, when NAIFA-Houston members were invited to Constellation Field for batting practice with seven-time Cy Young award winner Roger Clemens.

During an informal reception and meet and greet, Roger "Rocket" Clemens welcomed attendees and shared his personal story of success before engaging in a casual Q&A.  Then everyone was invited down to the field to pick up a bat and Roger took the pitcher’s mound.  Several attendees took the opportunity to bring their gloves and play the outfield!

Topics: Benefits Potential Partners for Advisors
5 min read

Primary Financial Advisors Are All-In on NAIFA and Serving Clients’ Financial Needs

By Mark Briscoe on 6/21/21 2:37 PM

“Belonging” and “membership” are concepts that come naturally to the advisors at Primary Financial, a premier Penn Mutual agency in Edison, NJ, and the newest NAIFA 100% Agency. Collaboration and working together are ingrained in the firm’s culture and reflected by the value the agency places on mentorships and its support for NAIFA.

With approximately 40 insurance and financial professionals, Primary Financial is known for having many experienced advisors. As it brings on new advisors, it pairs them with the firm’s well-seasoned professionals.

2 min read

NAIFA and Customers Bank Announce Educational Partnership

By NAIFA on 6/15/21 2:45 PM

NAIFA and Customers Bank have completed an educational partnership agreement to advance thought leadership and consumer education and promote professional cooperation between the two associations. Under the partnership, Customers Bank will provide content for NAIFA blog posts as well as articles for NAIFA’s Advisor Today. NAIFA and Customers Bank will work together to give broader access for financial professionals and consumers to Customers Bank content in areas where the organizations’ interests overlap. 

“NAIFA is excited to partner with Customers Bank to allow our members access to another great resource that they can extend to their clientele,” stated Suzanne Carawan, VP, Marketing & Communications. “NAIFA is always working to provide members with new ways to provide better service to their clients and build more innovative and lucrative practices. Partnering with Customers Bank and raising awareness of their offerings to our members provides additional opportunities to innovate their practice.”

Topics: Press Release Business Performance Center
1 min read

NAIFA Past President Mac McManigal Has Passed Away

By NAIFA on 6/15/21 9:54 AM

NAIFA is sad to learn that former national association President Morland “Mac” McManigal passed away May 22 in Green Valley, CA.

McManigal ran his StateFarm Insurance business for nearly 40 years and was known for recruiting exception agents into the industry and mentoring them to great levels of success. He was a highly sought-after speaker and gave more than 800 motivational presentations at insurance industry and other events.

1 min read

Today Is the Deadline to Apply to Get Your LACP in July!

By NAIFA on 6/15/21 4:00 AM

NAIFA’s Life and Annuity Certified Professional (LACP) certification recognizes the need for insurance and financial professionals to further differentiate themselves in the marketplace. The LACP is a fully accredited certification that shows consumers and colleagues an agent or advisor has solid experience and understanding of life insurance and annuity products. It’s a mark of professionalism held by many leading insurance and financial advisors. Every LACP recipient agrees to adhere to NAIFA’s Code of Ethics, which includes the requirement that they put their clients’ interests first. The LACP is one of only nine accredited certifications recognized by FINRA.

Topics: Certifications & Designations LACP
4 min read

Building Your Squad: Top Reasons to Partner with a TPA

By SMA Services, Inc. on 6/14/21 11:03 AM

The NBA playoffs are upon us — when the best of the best face off against each other. Even if you don’t know a thing about basketball, you’ve heard some of their names: LeBron James, Kyrie Irving, James Harden. But these games aren’t one-on-one. They’re team efforts, and every player has a specific role to play. You have your point guard; your power forward; your shooting guard; your small forward; and your center. Each one has different strengths. Each has different weaknesses, too. 

You don’t have to know what they all do. All you need to know is that you wouldn’t build a lineup of five point guards any more than you would use a lawnmower to trim your hedges, or a chainsaw to cut your grass. Five people playing the same position won’t win any games; neither will one star player on the court all by his lonesome.

 The same principles apply to servicing a 401(k) plan. It takes a team: the plan sponsor, recordkeepers, CPAs, advisors… and a TPA. As an advisor, you may be a wizard when it comes to focusing a plan’s investments. You may be able to maximize participant outcomes in your sleep. But just like an all-star forward, even the best advisor can’t be everywhere at once. Plan design, compliance, and administration are specialties all their own. You need someone who can set you up with an assist. You need a TPA.

Topics: Worksite Benefits 401(k) Business Performance Center Potential Partners for Advisors
2 min read

LPL Financial Allows Use of NAIFA’s LACP Certification

By NAIFA on 6/14/21 10:54 AM

NAIFA is pleased to announce that LPL Financial has accepted the use of the Life and Annuities Certified Professional (LACP) certification for use by agents and advisors who it works with. The LACP demonstrates a professional knowledge of life and annuity products and an ethical approach to sales.

Topics: Certifications & Designations LACP Press Release
4 min read

New Member Profile: Julie McCormick

By NAIFA on 6/13/21 10:26 AM

Julie McCormick, CFP is a new NAIFA member, joining in April 2021. Julie practices with Continuum Planning Partners in Brentwood, TN. Although Julie has her investment and insurance license, she states that her specialty is financial planning as a whole.

Topics: Advisor Today
9 min read

How Will COVID-19 Change the Workplace Permanently?

By Insperity on 6/12/21 9:45 AM

There’s a light at the end of the tunnel – COVID-19 vaccinations are ramping up and the pandemic may be over in the foreseeable future.

Undoubtedly, many aspects of how we traditionally carry out work had to change because of the risks of virus transmission. But the question remains, how will COVID-19 change the workplace for the long haul?

  • Were the changes a temporary abnormal?
  • Will it soon be back to business as usual?
  • Or will COVID-19 have lingering effects on the workplace that will stay with us even after the pandemic ends?

The latter seems to be the most likely scenario.

We asked eight Insperity HR gurus to give their predictions on how COVID-19 will change the workplace permanently.

We broke their answers into five categories:

  1. Remote work
  2. Flexibility and work-life balance
  3. Technology use
  4. Compliance with laws and regulations
  5. Cybersecurity

Despite all the disruptions and stress that came with unexpected change and prolonged periods of uncertainty, many of these long-term impacts of COVID on the workplace may actually be positive.

Here’s what they had to say.

1. Remote work

No longer will the status quo – the brick-and-mortar location for a company – be the norm for some businesses.

The ability for employees to work remotely and be effective has demonstrated that the previous standard requirement for on-site work may be an outdated concept going forward for certain types of businesses where an on-site presence is not critical.

Kim Franklin | Senior Human Resource Advisor | Chicago, Illinois

This forced experiment has been a true learning event for everyone and has changed the relationship between employers and employees for the better.

Companies have now realized that many of their functions can be done successfully and remotely.

Before the pandemic, many companies were hesitant to truly accept this concept. Being forced to adapt in real time opened company leaders’ eyes to this new way of working.

Managers had to shift their perspectives and expectations of employees and learn new skills. Many have been very pleasantly surprised by the outcome.

Bonnie Moynch | Performance Specialist | Houston, Texas

Employees and employers alike now realize that remote work is feasible in many cases. Remote work will continue to prevail.

For employees, this may help to reduce commuting costs and stresses, and improve work-life balance. For employers, this may allow them to reduce the costs associated with physical office locations – either by:

  • Moving to smaller or less expensive locations
  • Or even closing physical offices

There may be no compelling need for an employee to return to working in a physical office. However, this adds the complication of how to manage employee performance, conduct and attendance remotely.

Mark Berry | Senior Human Resource Specialist | Bay Area, California

There will be a broader acceptance and embrace of a more virtual workforce.

Training has had to adapt for virtual environments, and that may stick. The days of gathering hundreds of people – or even just 20 or 30 – in one space for conferences, seminars and training may be a thing of the past.

We must be creative in figuring out interactive ways to engage employees while achieving similar outcomes as before. For example, what used to be one full day of training may now be three shorter days.

Additionally, managers must be able to lead remote employees well. They need to:

  • Stay engaged with their people
  • Make the extra effort for one-on-one personal time
  • Learn what motivates their employees
  • Identify how they learn and work best

Michelle Kankousky | Senior Corporate Learning and Development Consultant | Houston, Texas

2. Flexibility and work-life balance 

Balance and flexibility will be the new workplace mantras, and employees will become a more active partner in designing what that will look like.

Bonnie Moynch | Performance Specialist | Houston, Texas

The pandemic required businesses to have an increased flexibility with work hours, work-life balance and caregiver needs. Employers will need to sustain flexible work options to attract and retain skilled workers.

Caroline Hernandez | Human Resource Advisor | Los Angeles, California

Employers have learned an important lesson on flexibility and extending grace. On video calls for conducting business, it’s common for a child’s face to suddenly appear on the screen, a dog to bark or a baby to cry. Working around an employee’s family responsibilities in a crisis situation has fostered innovation and creativity.

The post-pandemic period may reflect a hybrid of on-site/off-site employees, investment in technology to ensure seamless transitions when business needs to adapt quickly to change and, through it all, balance personal and work life.

Kim Franklin | Senior Human Resource Advisor | Chicago, Illinois

Employers who prefer to have their employees on-site may consider providing motivation for employees returning to the office.

Allowing flexible schedules, such as one or two days of remote work and three or four days in the office may be sufficient to appease those who wish to remain home.

Arranging social gatherings in the office can also be a draw to bringing employees back to work. Hosting a lunch meeting or just bringing in lunch and giving employees an opportunity to gather on a regular basis may also be a good incentive.

Kelley Zanfardino | Senior HR Compliance Analyst | San Diego, California

3. Technology use

Technology has played – and will continue to play – a key role for many companies in maintaining the ability to work without experiencing a significant, negative impact on how they conduct their business.

Kim Franklin | Senior Human Resource Advisor | Chicago, Illinois

The workplace quickly adapted during the pandemic to extensively use audio and video conferencing to replace face-to-face meetings across a broader range of situations – and with employees who may not have ever used that technology before.

We will continue to see increased use of audio and video conferencing. In some cases, this technology will be more efficient in reducing travel time and expenses.

Mark Berry | Senior Human Resource Specialist | Bay Area, California

Because COVID forced many businesses to close or adapt operations, leaders had to leverage technology to come up with alternative ways of doing business that, as a result, streamlined processes and services. The most cost-effective solutions may be sustained into the future.

Caroline Hernandez | Human Resource Advisor | Los Angeles, California

4. Compliance with laws and regulations

There may be new requirements targeting time off for employees – whether that’s mandatory sick leave or public-health leave.

Some locations had laws of this nature already in place, often as part of a mandatory sick-leave law. Other locations may not have included public-health issues in their sick-leave laws – or they don’t have an applicable law at all.

All employers will need to maintain awareness of any legislation that arises from the pandemic, and adapt accordingly.

Kelley Zanfardino | Senior HR Compliance Analyst | San Diego, California

The COVID-19 pandemic may change the workplace by forcing businesses to reconsider safety protocols and procedures. They may have a newfound appreciation for OSHA and safety expertise. As a result, we could see increased budgets to invest in safety specialists and sanitation services for their businesses in the future.

Likewise, HR professionals have become essential – more than ever – in helping to navigate COVID-related laws and guidance at the local, state and federal level.

Caroline Hernandez | Human Resource Advisor | Los Angeles, California

5. Information security 

The shift to long-term remote or hybrid work arrangements will further blur the line between the personal and the professional.

Companies will need to consider how they protect data – both electronic and physical – when it’s accessed from a home environment. For example:

  • Will you allow confidential materials to be accessed at home?
  • What about the ability to print those materials?
  • How should workplace property be stored and secured?

On the flip side, employees should be careful to not disclose more of their personal lives than intended. For example, what’s visible behind them on a video call?

Long-term change driven by the pandemic is providing incredible opportunities to balance our work and personal lives. We just need to make sure that we redraw and reinforce the appropriate boundaries to protect everyone.

John Rhoades | Managing Director, Data Privacy and Technology Compliance | Houston, Texas

Summing it all up

When it comes to assessing how COVID will change the workplace permanently, HR, performance, and data privacy professionals agree:

  • Regardless of what employers thought pre-COVID, remote work or hybrid work arrangements will be viable, ongoing options for some employees.
  • Employers may wish to consider continuing to be flexible and accommodating in light of recent experiences.
  • Greater consideration should be given to work-life balance and individual employees’ personal circumstances.
  • Companies will continue to rely on technology to help them adapt quickly to unexpected events and operate more efficiently.
  • However, as the world adjusts to this new reality, niche professional advisors, such as in safety and sanitation protocols, cybersecurity, HR and employment law, will be critical in helping employers avoid or navigate problems.

Overall, COVID may have wrought havoc on a global scale, but fortunately there seems to be a silver lining poised to leave a positive legacy on the workplace.

To get the latest updates on how COVID-19 is changing the workplace, visit the Insperity COVID-19 Resource Center.

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Topics: COVID-19

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