David Wood’s journey in the financial services industry is a testament to dedication, vision, and an unwavering commitment to growth. Based in Marlborough, CT, Wood has been a loyal member of the National Association of Insurance and Financial Advisors (NAIFA) since 2024, though his connection to the field dates back to the 1990s. As the founder and principal of Gateway Financial Partners, Wood’s career is a blend of pioneering spirit and deep-rooted advocacy.

David Wood’s entry into the financial industry was driven by a clear purpose. In1986, he ventured into the world of finance just before the stock market crash of 1987. His early days were spent at smaller regional broker-dealers, where he honed his skills and built a foundation for his future endeavors. In 1994, he established Gateway Financial Partners, aiming to create a platform where financial advisors could thrive and build successful practices.

“I find great excitement in helping people and seeing our advisors grow over time. It's very rewarding to me,” Wood shares. This commitment to nurturing advisors has been a driving force throughout his career.

Wood’s longevity and the enduring relationships with his advisors underscore his dedication. “Our first advisor to join us in 1994 is still affiliated with the firm, and we have built strong relationships with the advisors we serve,” he notes.

The dynamic nature of the financial services industry drew Wood to NAIFA. Recognizing the critical need for advocacy and education, he joined NAIFA to support the evolving landscape of financial advisory services. “Our industry needs more advocacy and education,” Wood asserts. “Advisors need education and need to be accepting of these changes. Education is a key part of making this happen.”

Wood’s engagement with NAIFA extends beyond mere membership; he is actively involved in advocating for policies that support independent advisors. “Advocacy is important in educating regulators on the real-life aspects of our industry,” he explains. This proactive stance is vital for shaping policies that align with the interests of both advisors and their clients.

For Wood, NAIFA’s role in providing education and focusing on both financial advisors and their clients is crucial. “NAIFA is focusing on the ‘F’ as much as the ‘I’,” he says, highlighting the association’s balanced approach to addressing the needs of its members and the broader financial community.

Wood is optimistic about the future of the financial services industry, despite the challenges. He points to a significant opportunity for new entrants as the industry faces a generational shift. “We have seen a 10 percent decline in the number of advisors in the past 10 years, and one-third of our industry is expected to retire in the next 10 years,” Wood notes. With a substantial number of baby boomers turning 65 every day, the demand for financial advice is growing, presenting a compelling opportunity for those considering a career in this field.

Wood’s recommendation of NAIFA to others is rooted in his belief in the organization’s mission and the passion of its members. “I believe in the mission and the passionate people driving the organization,” he says. NAIFA’s commitment to professional development and advocacy aligns with Wood’s values and the needs of the financial services industry.

His work with Gateway Financial Partners and his active role in NAIFA reflect a profound commitment to advocacy, education, and the advancement of the financial advisory profession.