The Delegate Council, comprised of local association leaders, will vote to elect officers to the NAIFA-Texas Board during the Annual Business Meeting July 24. Candidates for office are listed below:

President-Elect

Joey Ussery, CLU, ChFC, LUTCF   Joey is a 26-year NAIFA member who has served his local NAIFA-Houston association in every office and committee. He is presently the NAIFA-Texas Secretary/Treasurer. Joey is a 2003 LILI graduate and a PAC contributor at the Diplomat level.

Secretary/Treasurer

	Lane Boozer, LUTCF   Lane has been a NAIFA member for 14 years and has attended every NAIFA-Texas conference during those years. He has also served on his local board for 12 years. Currently, he is a NAIFA-Texas Trustee and the Membership Committee Chair. Lane is a 2003 LILI graduate and a PAC contributor at the Diplomat level.
	Jason Talley, LUTCF   Jason is currently a NAIFA-Texas Trustee and the Government Relations Chair. As Government Relations Chair, he implemented a bimonthly Gov Call and has also made two recent trips to Washington DC for lobbying efforts. He has served his association for 15 consecutive years in various positions. Jason is a 2000 LILI graduate. He contributes to the PAC at the Diplomat level.

Trustee

	John Connally, Jr., LUTCF   John has 49 years as a NAIFA member under his belt and is also a 42-year member of MDRT. He has served as a board member for NAIFA-Dallas for 6 years. In 2007, NAIFA-Dallas named him Advisor of the Year. John contributes to the PAC at the Ambassador level.
	Wesley McKnight, FSS, LUTCF   Wes is a 16-year NAIFA member. He is also a 10-year NAIFA-Pineywoods board member and has served as President since 2009. He is a graduate of the LILI Class of 2001. Wes has been a PAC contributor for the past decade, currently at the Century level.
	Randy Robertson, LUTCF   Randy is a 30-year NAIFA member and a 30-year MDRT member. He served as NAIFA-Texas President 2009-2010 and in several capacities at the local level for NAIFA-Lubbock. Randy has been a PAC contributor since he began his NAIFA membership and now contributes at the Diplomat level.

Doug Massey will become 2012-2013 NAIFA-Texas President. Stephen Ehlers will become Immediate Past President. Ron Mullen will continue his term as National Committeeperson. Trustees whose terms continue are Alan Kifer, Eddie Tate, and Michael Kennedy. 

The business meeting is one part of the NAIFA-Texas Career Conference & Annual Meeting at the Embassy Suites San Marcos. All NAIFA-Texas members are encouraged to attend.

Members of the Young Advisor Team (if you're 40 or younger, or within the first five years in the industry -- that's you!) can take advantage of several exclusive activities at NAIFA's conference this year, September 8-11 at Caesars Palace Las Vegas.

The YAT Suite provides a centralized location to unwind with other young advisors.

On Saturday, September 8, the YAT Forum will feature Matt Anderson, of the Referral Authority, and top YATs sharing sales ideas. YATs will network with industry professionals and experience inspiring and educational speakers with topics geared toward YATs.

September 8 and 9, 9:00 p.m. - midnight, the YAT Suite will be open for YATs to relax and compare notes. The YAT Lounge will be open September 9, 10:30 a.m. - 2:30 p.m. and September 10, 11:30 a.m. - 3:15 p.m. for networking. Finally, a YAT Happy Hour will be held September 10, 9:30 p.m. - midnight.

YAT's also receive discounted registration ($150+). Be sure to register by July 6 to take advantage of the early-bird discount as well.

Frequently, an agent becomes so familiar with a process or procedure that it is assumed a long time client is also familiar.  In this claim example, the client alleges the agent failed to explain that funds would be withdrawn from his variable annuity at the end of the business day versus at the time which he executed the withdrawal papers.  This misunderstanding between the agent and the client led to a $10,000 market loss between the date of the request and the date paperwork was executed.  The client looked to the agent for recovery of this loss and the agent acknowledged failing to explain this critical timing component of the transaction.

Risk Management Tip:

Among health insurance executives recently surveyed: 56 percent believe most health insurance will be sold through exchanges within five years. Nearly a third believe they will be government-run exchanges. Full story.

The Department of Labor official who is leading the effort to strengthen fiduciary-duty rules for retirement plans said that she is coordinating with the Securities and Exchange Commission on fiduciary policy but asserted that each agency will pursue its own regulations. And that worries some industry players. Full story.

Investment advisers remain opposed to legislation that would put them under the jurisdiction of a self-regulatory organization even after a suggestion by the bill's author that the SRO membership fees could be capped. Full story.