Memberships of the two leading associations in the industry overwhelmingly support the merger
ARLINGTON, Va., Oct. 13, 2023 /PRNewswire-PRWeb/ -- The National Association of Insurance and Financial Advisors (NAIFA) and the Society of Financial Service Professionals (FSP) announced today that the memberships of both organizations have voted overwhelmingly to approve a merger of both groups, forming a larger, expanded, more impactful professional association that will strengthen the financial security industry. This historic partnership will bring together the passionate membership of both organizations to provide expanded education, advocacy, and professional networking opportunities.
NAIFA, established in 1890, has long been the leading professional association for financial advisors and insurance professionals. FSP, founded in 1928, has a rich history of providing exceptional education and thought leadership to a multidisciplinary membership base. The merger signifies a significant commitment to promoting ethical practices, growing the financial services workforce, and expanding state and federal grassroots participation.
Kevin Mayeux, CEO of NAIFA, said, "This merger represents a monumental step towards a stronger, more unified voice for the financial services industry. By combining our organizations' strengths and expertise, we are positioned to provide a continuum of education from financial literacy for consumers through advanced markets with financial advisors. Our expanded organization is poised to protect more Americans through our comprehensive advocacy program – at the federal level and in all 50 states - and provide a network of ethical financial service professionals to help them achieve financial security."
CEO of FSP, David Maola, JD, MBA, added, "FSP has always stood for educational excellence and professional integrity within the financial services industry. By merging with NAIFA, we are not only extending our reach but also creating a dynamic synergy that will benefit our members, clients, and the entire industry. We look forward to expanding our professional development portfolio and reaching more advisors to ensure they are exceptionally prepared for a continuously changing economy."
With this merger, FSP will maintain its name and brand and serve as the professional development arm of NAIFA. The expanded association will represent more than 20,000 members that span every practice area in financial services, in every state and every community nationwide.
ABOUT NAIFA:
Founded in 1890, the National Association of Insurance and Financial Advisors is the preeminent membership association for the multigenerational community of financial professionals in the United States. NAIFA members subscribe to a strong Code of Ethics and represent a full spectrum of financial services practice specialties. They work with families and businesses to help Americans improve financial literacy and achieve financial security. NAIFA provides producers with a national community for advocacy, education, and networking along with awards, publications, and leadership opportunities to allow NAIFA members to differentiate themselves in the marketplace. NAIFA members in every congressional district advocate on behalf of producers and consumers at the state, interstate, and federal levels.
ABOUT FSP:
FSP is a multidisciplinary community of experienced financial professionals, a unique collaboration of investment advisors, attorneys, CPAs, insurance professionals, and experts across a variety of sectors. FSP's chapters provide opportunities for learning and relationship building locally, while the national organization offers additional resources on a larger scale. With a strong commitment to building relationships and expertise across the financial services profession, FSP strives both nationally and locally to empower the highest level of client service possible. For more information, visit http://www.SocietyofFSP.org.
ABOUT LIFE HAPPENS:
Life Happens is a nonprofit organization dedicated to helping consumers take personal financial responsibility through the ownership of life insurance and related products. The organization does not endorse any product, company, or insurance advisor. Since its inception in 1994, Life Happens has provided the highest quality, independent, and objective information for people seeking help with their insurance buying decisions. The organization supports the insurance industry by providing marketing tools and resources and convening the industry each September for Life Insurance Awareness Month. Life Happens is supported by the nation's leading insurance company and financial services organizations. For more information, visit http://www.lifehappens.org
Media Contact
Suzanne Carawan, NAIFA, 571.423.6387, [email protected], www.naifa.org
Donna Giacobello, FSP, 610-526-2524, [email protected], www.societyoffsp.org
SOURCE NAIFA
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