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Wednesday, May 22, 2024

NAFA Unveils 2024 Board of Directors

The National Association for Fixed Annuities (NAFA) held its 15th annual Annuity Distribution Summit in Nashville, Tenn., where the general membership met to approve the slate of candidates for the 2024 board of directors. The nominees were vetted by the current board and represented a diverse set of industry professionals. The newly elected and re-elected board members will join current leadership in guiding the association’s efforts to protect and enhance the annuity industry.

The newly appointed board members include Jill Esser of Magellan Financial & Insurance Services, Inc., Paul Garofoli of The Standard, Branislav Nikolic of The Index Standard, and Rocky Robbins of Brokers International. Additionally, the following leaders will begin serving a second three-year term: Jay Brown of Delaware Life Marketing; Maureen James of Summit Compliance Group, LLC; Paul Kruth of Western & Southern Financial Group Distributors; Brian Peterson of AmeriLife; and Mike Tripses of Annua Profectus.

Kevin Mechtley of North American will assume the role of chairman of the board of directors, with David Wolfe of Advisors Excel as the new vice chair, and Andrew Payne of CreativeOne as secretary. Eric Taylor of Corebridge Financial was elected as the newly appointed treasurer, joining the executive operating committee.

NAFA President and CEO Chuck DiVencenzo expressed the significance of these developments for the fixed annuity industry. He highlighted the record sales experienced by fixed deferred and fixed indexed annuities in 2023, citing economic and financial pressures as drivers of consumer interest in risk mitigation strategies and supplemental lifetime income. However, DiVencenzo also addressed regulatory threats to the industry, emphasizing the board’s commitment to advocating for the best interest of everyday retirement savers and combatting burdensome regulation.

The NAFA board comprises a diverse group of stakeholders, each committed to working towards a brighter future for the industry. The new board members join existing members in leading NAFA’s mission to promote the awareness and understanding of fixed annuities. NAFA’s membership encompasses all aspects of the fixed annuity marketplace, including those sold by independent agents, advisors, and brokers.

In conclusion, NAFA expressed its gratitude to outgoing board members and wished them well on their future endeavors. The association continues to work towards educating annuity salespeople, regulators, legislators, journalists, and industry personnel about the value of fixed annuities and their benefits to consumers. For more information about NAFA, please visit http://www.nafa.com.

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