With somewhere around 300,000 financial advisors in the United States (and more projected to join the profession in coming years), it’s more important than ever to set yourself apart as a top-tier industry professional.
From embracing new tech to furthering your skillset, there are opportunities out there that can increase your AUM, build your reputation and open new doors – one of the most important of which is the National Association of Insurance and Financial Advisors (NAIFA).
Today, we’re exploring how growth-minded advisors can benefit from joining NAIFA, plus what to expect as a member and how to join.
What is NAIFA?
Founded in 1890, NAIFA is a nationwide organization supporting the growth and development of financial and insurance professionals, while also encouraging high ethical standards of client care for its members.
In the financial realm, broker/dealers, investment advisors, financial advisors and planners are welcome to join, as well as independent marketing agencies that cater to those professionals.
| The NAIFA Mission Statement
“The mission of the National Association of Insurance and Financial Advisors is to advocate for a positive legislative and regulatory environment, enhance business and professional skills, and promote the ethical conduct of our members.” |
NAIFA advocates for financial professionals at both the state and federal level, with many state chapters available for you to join. These local chapters often host in-person networking and development events in addition to the annual Nationwide Leadership Conference and a Congressional Conference, which is focused on legislative advocacy.
The Benefits of NAIFA
There are a whole host of benefits to joining NAIFA (beyond the fact that members “earn significantly more than their non-NAIFA counterparts!”).
- Advocacy and Representation: NAIFA fosters policies that support the industry and professionals like you, keeping members informed about legislative and regulatory developments. They also organize events that facilitate conversations between lawmakers and members throughout the year.
- Community: As a member of NAIFA, you’re part of a large, interconnected community of like-minded advisors. These relationships can lead to business opportunities, partnerships and even mentorship opportunities for young professionals.
- Business, Professional and Personal Development: Conferences, workshops, events, courses and certifications are available to all NAIFA members, with specific programs designed to address underrepresented groups like the Diversity, Equity and Inclusion Council and Young Advisor Team (YAT). Joining isn’t just an investment in your firm, but also your education.
- Resources, Programs and Products: After joining, you’ll have access to over 50 resources aimed to enhance your skills, client acquisition and care, marketing initiatives and more. NAIFA also provides research reports, industry publications and tools to help you stay competitive in the field.
*You can learn more about NAIFA benefits over on their website.
Beyond being a time-tested organization, NAIFA acts as a catalyst for growth-oriented advisors, offering a unique blend of advocacy, community and educational resources.
How to Get Started with NAIFA
A core tenant of NAIFA is their focus on providing better care and service for your clients. As such, all NAIFA members are required to abide by their Code of Ethics.
Before you join, it’s important to review these obligations, which include (among others):
- “Conducting all business dealings in a manner which would reflect favorably on NAIFA and my profession.”
- “Cooperating with others whose services best promote the interests of my clients.”
- “Continually enhancing professionalism by developing my skills and increasing my knowledge through education.”
Click here to download NAIFA’s full Code of Ethics.
From there, you can explore joining NAIFA either through a group membership or individual membership.
Group memberships vary in cost depending on the number of staff in your firm, and there is a special program for firms that have all their qualifying staff joined at a “Producer” membership level. You can explore more about group memberships here.
To join individually, you’ll also have two options: Associate or Producer memberships.
Producer subscriptions range from $10-$67 per month depending on your years of licensed experience, and have the added benefit of being able to run for and/or hold any leadership positions in NAIFA.
Associate members have many of the same benefits as Producers, but are limited to only certain leadership roles. They range in price from $50-$500 a year depending on whether you’re a student, industry professional or administrative professional. You can register for an individual member using this online form.
Keep in mind that joining NAIFA is an investment in your career and that NAIFA members are reported to out-earn their non-member counterparts – your membership might end up paying for itself!
*Membership prices are accurate as of November 2023
Why We Love NAIFA: Empowering Advisors for Growth
NAIFA and Mobile Assistant are both committed to providing better experiences for advisors and their clients. While NAIFA delivers research and resources to keep your practice running smoothly, Mobile Assistant’s time-saving dictation software puts that into practice with more efficient everyday processes.
Related: Mastering Efficiency with Assistant Template Manager
By joining NAIFA and employing tools like dictation software, you can facilitate growth and find a new level of professionalism. From a supportive community to leadership opportunities and more, NAIFA is a great choice for growth-minded financial advisors in 2024 and beyond.
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