National Association of Insurance and Financial Advisors (NAIFA)
What it is:
The National Association of Insurance and Financial Advisors (NAIFA) is a trade organization for insurance professionals and financial advisors.
How it works/Example:
Founded in 1890, the organization originally was called The National Association of Life Underwriters (NALU). The organization represents insurance professionals in all 50 states and has at least one local chapter in every state, as well as the District of Columbia. The organization's primary offices are in Falls Church, Va.
Why it matters:
NAIFA promotes an ethical code of conduct for members and provides professional education opportunities to members who provide life insurance and annuities, health insurance and employee benefits, multiline insurance products and financial advice to clients. NAIFA also lobbies for favorable legislative and regulation. It is one of the largest trade groups in the financial industry.