May/June 2017




Aaron Forbes

President Elect:
Patrick J. Cannon

Vice President:
Jerod Cook

Jay Randall

Immediate Past President:
I. David Cohen, CLU, ChFC, LUTCF

National Committee-Person:
Duane Borcherding, CLU, ChFC

Executive Director

Renae Davies
P.O. Box 448
Lewis Center, Ohio 43035
Phone: 740.879.4456
Fax: 888.525.7645

Our Mission
The mission of the Columbus Chapter of the National Association of Insurance and Financial Advisors is to provide leadership in sustaining and improving the business environment for those engaged in life underwriting and to enhance further the professional skills of those providing life and health insurance and other closely related financial products and services which foster greater financial independence for the public.


Platinum Sponsors

Silver Sponsors


Bronze Sponsors


2017-2018 Calendar of Events - NAIFA Columbus



Wednesday, September 20, 2017


8:00 a.m. - 9:15 a.m.
Cost: FREE for NAIFA-Columbus Members / $25 for Guests or Non-Members

CE SEMINAR (offering 2 hours of CE credit)

9:15 a.m. - 11:15 a.m.
Cost: FREE for NAIFA-Columbus Members / $35 for Guests or Non-Members
Location: J. Liu Restaurant, 6880 N. High Street, Worthington 43085




Save The Date for the 6th Annual

Monday, October 16, 2017

8:00 AM - 4:00 PM

Early Bird Registration:
$110 for NAIFA-Columbus Members / $190 for Guests or Non-Members / $995 for Table of 10


Nationwide Hotel and Conference Center
100 Green Meadows Drive South
Lewis Center, Ohio 43035

A day of inspirational ideas to take your business to the next level and beyond!



Wednesday, January 17, 2018


8:00 a.m. - 9:15 a.m.
Cost: FREE for NAIFA-Columbus Members / $25 for Guests or Non-Members

CE SEMINAR (offering 2 hours of CE credit)

9:15 a.m. - 11:15 a.m.
Cost: FREE for NAIFA-Columbus Members / $35 for Guests or Non-Members
Location: J. Liu Restaurant, 6880 N. High Street, Worthington 43085

YAT - Michael Kitces Provides Advice


presented by Logan Philipps


Michael Kitces provides invaluable advice to financial advisors. A little while back he provided advice specifically to young advisors. Below is the executive summary of a video that can be found here:


For most of the past several decades, getting started as a financial advisor meant “smiling and dialing”, reading cold-calling scripts while sitting in a cubicle, trying to convince the person on the other end of the phone to buy something. The bad news is that cold calling was a brutal numbers game full of rejection. The “good” news was that at least young advisors didn’t have to worry about age bias from their prospects, who couldn’t see them and had no idea how old they were. But as financial advisors shift to actually giving face-to-face financial advice – and with the rise of the Do Not Call list – it has become an even greater challenge for young financial advisors to get credibility with prospective clients and overcome (young advisor) age bias.

And so in this week’s #OfficeHours with @MichaelKitces, my Tuesday 1PM EST broadcast via Periscope, we look at the steps that young advisors can take to overcome the inevitable age bias they will face in meeting with prospects and clients, particularly as the advisory industry increasing focuses on Baby Boomers (who in many cases are old enough to be a new advisor’s parent or even grandparent!).

The first key to success is simply building confidence as a young financial advisor. Because if you’re not confident that you can deliver value to your (older) clients, they won’t be confident in you, either. For some, it might be enough to “fake it until you make it”. For others, it’s necessary to get certifications like the CFP marks, or even additional post-CFP designations, to really establish their credibility and find their confidence.

Second, recognize the impact of first impressions… and the ability you have to control it. How you dress, and the impression it gives, is something you can control. As is the way you communicate with clients by telephone or email before you meet with them. While you can’t eliminate the fact that you’re young, you can at least give the impression that you’re an especially competency and well put together young man or woman!

Third, consider taking classes to build your skills of active listening and empathy. Because the truth is that clients won’t really trust you, until they truly feel that they’re being heard and understood. Doing that well is a skill that takes time and effort to develop.

But the bottom line is that if you’re a young financial advisor struggling with age bias, it doesn’t have to be crippling. Find what it takes for you to be confident in yourself, and do your best to manage the first impression that prospects and clients form of you… and if necessary, ask your mentors and senior financial advisors to support you and your credibility in front of clients as well!



NAIFA National News

Secretary Acosta Allows Partial Applicability as of June 9

Issue: DOL Fiduciary Rule

Date: May 30, 2017

Action Taken: DOL Secretary Announces Partial Applicability in Wall Street Journal; FAQs; Bulletin

Background: The Department of Labor released FAQs and a temporary enforcement bulletin regarding the fiduciary rule/PTE transition period from June 9, 2017—when the rule and limited parts of the PTEs become applicable—until January 1, 2018—when the remaining parts of the PTEs are scheduled to take effect, absent further action by the Department.  Additionally, Labor Secretary Acosta authored an Op-Ed in the Wall Street Journal, which states that the Department will not further delay the June 9 partial applicability date because, according to the Secretary, there is “no principled legal basis” to do so.

At midnight on June 9, therefore, the new definition of investment advice fiduciary will be in place and fiduciary advisors who wish to receive commissions and/or other conflicted compensation will have to satisfy the limited PTE conditions discussed below. 

With respect to PTE 84-24, the old version of the PTE applies with the addition of the impartial conduct standards finalized by the Department last year.  During the transition period, PTE 84-24 covers all annuity/insurance product sales (including indexed and variable annuities) to both ERISA plans and IRAs.  To receive compensation relief under 84-24 during the transition period, fiduciary advisors must:

  1. Give investment advice in the “best interest” of their clients;
  2. Avoid making materially misleading statements to their clients with respect to investment advice given;
  3. Receive only reasonable compensation;
  4. Effect the transaction in the ordinary course of business;
  5. Offer transaction terms at least as favorable to the plan/IRA as an arm’s length transaction; and
  6. Disclose to an independent plan/IRA fiduciary:

    a. the advisor’s relationship with the insurance company,  
    b. the commissions he/she will receive (including for renewal years), and
    c. a description of any charges, fees, discounts, penalties or adjustments which may be imposed under the recommended contract.

Fiduciary advisors relying on the Best Interest Contract (“BIC”) exemption for prohibited compensation relief during the transition must:

  1. Give investment advice in the “best interest” of their clients;
  2. Avoid making materially misleading statements to their clients with respect to investment advice given; and
  3. Receive only reasonable compensation.

The FAQ document released by the Department provides some additional detail regarding these transition period requirements and some examples regarding what does and does not constitute fiduciary investment advice.  Notably, the Department urges financial institutions and advisors offering proprietary products and/or products that generate third-party compensation to be “candid” with their clients regarding these arrangements.  More generally, the FAQs state that financial institutions have leeway to determine how best to comply with the transition period requirements in the absence (for now) of the other PTE obligations (e.g., warranties regarding compensation arrangements, disclosures, contracts, etc.).

Both the FAQ document and the Secretary’s Op-Ed emphasize that the Department is still conducting its analysis of the fiduciary rule and related PTEs pursuant to the President’s memorandum released earlier this year.  Accordingly, all aspects of the rule and PTEs are subject to change in the future.  The pieces also note that the Department will consider further delays to the January 1, 2018 applicability date to prevent “mismatches” between companies’ and advisors’ compliance efforts and potential changes to the requirements by the Department at the conclusion of its study.

Finally, the Department released an enforcement policy bulletin, which states that it and the IRS will not pursue claims against fiduciary advisors who are working in good faith to comply with the rule’s and PTEs’ requirements during this transition period.

Next Step: NAIFA Staff will meet with the Department of Labor for a “listening” session and then will work with Congress and the DOL to either have the rule rescinded, further delayed and/or substantially revised.  As always, we urge you to understand the requirements of any financial institutions you work with; maintain excellent records; document reasons for making recommendations you make; and stay aware of changes that may occur.  NAIFA will continue to work with the Department, lawmakers, and the White House to revise/rescind the rule.

NAIFA Staff Contact: Judi Carsrud, Director – Government Relations.

I. David Cohen Lifetime Achievement Award Highlights



On May 17th, NAIFA-Columbus held its 23rd Annual I. David Cohen Lifetime Achievement Award Luncheon at J. Liu Restaurant in Worthington. During this luncheon, President Aaron Forbes welcomed NAIFA members, guests, sponsors and past presidents.

NAIFA-Columbus Past President Cort R. Bradbury, CLU, CLF was honored with the 2017 Lifetime Achievement Award. Past President Bob Roach presented him with this award.

Other highlights of this year’s luncheon included the presentation of a check from CareWorksComp for the 2016-2017 NAIFA-Columbus’ Workers Compensation Group Rating Program. MDRT Event Chair Jay Randall provided an update on the “A Day with MDRT” Event and Community Service Committee Chair Doug Fitzpatrick presented the Community Impact Award to Mary Shambaugh-Trajanovski, a teacher of the Deaf and Hard of Hearing with Columbus City Schools.

In addition, 2016-2017 President Aaron Forbes was presented with a Past President’s Plaque for his service over the past year and Incoming President PJ Cannon was presented with a gavel.

A two-hour CE seminar was held prior to this luncheon from 9:15 am to 11:15 am. Keith Turner with Retirement Funding Solutions discussed “Using Housing Wealth to Increase Retirement Income”.

Lifetime Achievement Award Presentation - Cort Bradbury and Bob Roach
Lifetime Achievement Award Presentation - Cort Bradbury and Bob Roach