NAIFA President Terry Headley flew into D.C. last week for a whirlwind tour of meetings with all five SEC commissioners and several reporters. He discussed the results of NAIFA’s recent member and consumer surveys as well as how an imposed fiduciary duty may threaten the business models of NAIFA members and hurt their core client base of middle-market investors.
- Reuters interviewed Terry for a story on his meetings with the SEC and the results of the NAIFA surveys.
Excerpt – "There is a high chance that there will be a fiduciary standard," said Terry Headley, the group's president. "We are attempting to make sure it is flexible enough not to disrupt the business models of our members." - Terry told InvestmentNews that NAIFA “members service a vastly underserved middle-income market” and NAIFA is working to ensure an imposed fiduciary duty doesn’t undermine their ability to do so.
- Separately, InvestmentNews named Terry one of its “20 Most Powerful People of 2011.” The list includes “people who will shape both the face and the future of the financial advisory industry.”
- Terry also met with reporters from Bloomberg and Dow Jones and gave interviews that may result in future stories.
- Several other media outlets also covered the NAIFA survey:
Unrelated to the NAIFA survey and SEC meetings, Terry participated in a segment on the estate tax on Fox Business News' "Varney & Co." program.