Financial Security Professionals Launch New Organization to Help More Americans Build and Protect Their Financial Future.
SEPTEMBER 16, 2020, 7:00AM ET — Washington D.C., September 16, 2020 – Finseca, a transformative trade organization, launched today as the voice of the financial security profession. Finseca’s sole focus is to serve the leaders and financial security professionals working to protect the dreams and promote the prosperity of the American people.
Finseca brings together the resources and tradition of the former AALU and GAMA. Finseca will unite the profession that serves 90 million American families into a powerful and growing community capable of rising to the challenge of increasing financial security for all.
“Too many Americans are plagued by financial insecurity. We know there is a better way to help people plan for the future so they can achieve their own personal American Dreams,” said Marc Cadin, CEO of Finseca. “Everyone can benefit from conversations about money and having someone to turn to for personalized planning and advice. Today’s launch of Finseca is the first step on a journey to make our profession into a beacon for American financial and retirement security – and I see incredible opportunities ahead.”
“I could not be more excited about what Finseca’s future holds,” said Kelly Kidwell, Chair of Finseca. “Together we will develop the outstanding financial security professionals, firms and client relationships of tomorrow. I urge you all to join our growing community – and help us take a stand for financial security for all.”
Americans today are at a crossroads, as economic shocks of COVID-19 exacerbate financial and retirement anxieties. People who work with professionals are likely to have fewer debts, a safety-net fund, life insurance to protect them from hardship and lost earnings, and a strong path to retirement that includes a plan to create secure retirement income and a better life as they age.
Finseca will drive transformational change to elevate the value and purpose of financial security professionals, increase diversity in the profession, and broaden financial security to more communities and generations of Americans. We will accelerate the profession’s impact by delivering professional development and leadership tools that help our professionals skillfully and ethically guide consumers towards financial security. Finseca will advocate for public policy that equips people with solutions and advice to create a better future with less risk and uncertainty in their lives.
“United, there is nothing we cannot achieve,” said Cadin. “For too long, our profession has lacked a unified voice and collective action to overcome challenges and increase our impact. Finseca is building a community of financial security professionals who are united in a movement to elevate the noble work we do and steer a smarter conversation with policy makers, consumers and within the profession itself, so that we can serve more people and enhance financial security.”
Elevate, Accelerate, Advocate – Three Pillars to Drive Transformational Change
Finseca will steer smart conversations with financial security professionals and key stakeholders and media on meeting challenges for the profession and for American financial security head on. The new organization will drive three transformational pillars: to elevate the profession by promoting its noble impact while ensuring it evolves to meet future needs and attract new and diverse talent; accelerate education and insights to deliver more personalized advice and solutions to a broad and diverse population; and advocate for effective public policy that puts more people on the path to financial security.
ELEVATE promotes the noble work of our profession to drive better outcomes. Americans are not well served by critics who promote one-size-fits-all approaches and diminish the value of financial security professionals as part of the solution. The profession’s voice on these issues with policy makers, consumers and media has been diffuse. Finseca will change the conversation to build trust in holistic financial planning using life insurance and annuities. We will convene conversations on professional conduct to support this goal, promote the profession as a career opportunity to attract new talent, and advance diversity, equity and inclusion to foster a professional community as diverse as the people we serve.
ACCELERATE increases the market impact of the profession to reach more people. Better financial security professionals will produce better results for more consumers and enable us to serve more people. Finseca will educate, train, and provide professionals with tools to succeed in a changing market, embracing technology and promoting consumer insights to advance the profession and its opportunities to serve clients better. Finseca members will also be able to expand their professional networking opportunities to drive career development and business-building for professionals in all segments of distribution and at all stages of their careers.
ADVOCATE unifies our voices for public policy to increase financial security for all. The federal and state legislative and regulatory environment often makes it harder to help Americans protect and build a better future and access planning advice and solutions using life insurance and annuities. Finseca will unify the profession and raise our collective voices to advocate for effective public policy. Our advocacy agenda includes core tax treatment of life insurance, retirement policy, standards of conduct, and tackling the savings and liquidity crisis for American families. We will educate policy makers about the profession and the value of personalized professional advice for helping Americans become more financially secure.
“Financial Security for Me” – Meeting People Where They Are
In addition to new initiatives and benefits for members, today Finseca launched “Financial Security for Me,” a digital activation to ensure that more consumers feel represented and included in conversations on personalized advice and planning. The effort will address the barriers to achieving financial security, the biggest misconceptions, and how to start planning for the future and ultimately move the needle towards financial security for all.
This conversation is especially important in today’s environment. COVID-19 has created economic shocks that have intensified financial and retirement anxieties for American households. Finseca will help to build a bridge of trust between clients and financial security professionals – and this begins with a conversation to define financial security for each person’s unique circumstances.
This activation will help identify underserved and unmet needs of Americans who need protection from hardships and losses, increased savings and guaranteed income and security, and finally a clearer path to retirement.
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