The American Psychological Association says that worry over the current presidential election is “a very or somewhat significant source of stress” for 52 percent of Americans. With 59 percent of Republicans, 55 percent of Democrats and 45 percent of independents reporting elevated stress, election-related angst seems to be a nonpartisan issue.
Financial advisors are by no means immune. Regulatory and political developments are the top concern for 28 percent of advisors, according to a new survey by Fidelity Institutional Asset Management. This was the most often selected “top concern” in the survey, followed by portfolio management (25 percent of respondents), market volatility (18 percent) and interest rates (14 percent).
Now for the good news: It’s nearly over. To many of us, it seemed like this day might never come (and indeed, Election Day this year falls on the latest possible calendar date). For many months, we’ve witnessed a hard-fought, often bitter, often raucous, presidential campaign, along with numerous congressional contests nearly as intense. But the campaigning is drawing to a close and as of today the election rests in the very capable hands of the American people.
And there’s more good news: No matter what the results of the election, NAIFA has your back. We already have plans in place to work with the new Congress and administration to protect your business from regulatory and legislative challenges. From our professional staff to our grassroots advocates, our number one job is ensuring that our leaders are well informed on the impact and consequences of the Department of Labor fiduciary rule, the Affordable Care Act, tax reform proposals, and other crucial issues.
Our Congressional Conference in May will provide a great opportunity for NAIFA members to meet with federal legislators, whether they are freshmen or long-serving incumbents, and educate them on issues that affect advisors and consumers. I strongly urge you to join me in Washington for this amazing event.
Tonight, as election results come in, remember that NAIFA members’ contributions to IFAPAC, NAIFA’s political action committee, have helped support the campaigns of candidates who understand issues important to insurance and financial advisors. Contributions from IFAPAC provide another way for NAIFA members to participate in our democracy.
Finally, when the dust has settled, NAIFA’s Government Relations team will offer a post-election analysis Thursday at 3 PM EST as part of the NAIFA Webinar Series. Signup is open now.
To conclude this Election Day message, I want to encourage everyone to participate. If you haven’t done so already, please get out and cast your vote. Then, relax a little. Remember, NAIFA’s got your back!