Growing Numbers of Americans Feel Financially Vulnerable

September 14th, 2016, Comments Off on Growing Numbers of Americans Feel Financially Vulnerable.


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Growing Numbers of Americans Feel Financially Vulnerable


Text: New data from Northwestern Mutual’s 2016 Northwestern Mutual Planning & Progress Study indicate that Americans are feeling financially vulnerable, and it likely starts with the absence of a comprehensive perspective on their finances.

The findings revealed that one third of Americans (32%) do not feel they have a clear and accurate view of their whole financial picture, spanning both current obligations and future needs. This may be a factor why only one in five feel “very confident” that they will be able to achieve their financial goals.

“It’s much easier to navigate the path to financial security with your eyes wide open to all the realities you are facing,” said Dave Simbro, senior vice president, life and annuity products. “Like with any other situation, when you are uninformed it makes the process more challenging and intimidating.”

Disconnect between words and deeds

Most Americans are acutely aware of the importance of deliberate, sustained planning. When asked which they found more valuable, an overwhelming majority (89%) opted for “a feeling of comfort from knowing I am financially secure for the long-term” over “cash in hand today” while two in three acknowledged that their financial planning needs improvement.

Despite their appreciation for the role that planning plays, people are not necessarily putting theory into practice:

  • Only 40% are confident their financial plan can withstand market cycles, which is concerning considering that the majority (76%) increasingly expect there to be financial crises over time – (up from 67% in 2015).

Fewer than 4 in 10 (37%) define a financial plan as a strategy to “…allow me to live comfortably when I get older or retire” with some saying it simply means sticking to a budget or living within one’s means.


–       35% haven’t talked to anyone about retirement.

Moreover, while six in 10 said that integrated solutions designed to both grow and protect their assets are the most important to achieving financial security, only a small fraction own any financial products beyond a basic savings account:

  • Investments (including stocks, bonds, mutual funds, IRAs, ETFs) – 45%
  • Permanent life insurance – 27%
  • Term life insurance – 26%

–       Annuity – 16%

“Deepening awareness of their options is essential to helping Americans feel less vulnerable and more secure,” continued Simbro. “For example, many don’t realize that permanent life insurance is the proverbial utility knife of financial solutions because it can be used to tackle a variety of financial objectives over the arc of their lifetime – from building a business and funding college to supplementing retirement income.”

The survey was conducted by Harris Poll on behalf of Northwestern Mutual and included 2,646 American adults aged 18 or older. For more information, visit

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NAIFA, SKIPIO form exclusive partnership to empower members with new client relationship software

September 13th, 2016, Comments Off on NAIFA, SKIPIO form exclusive partnership to empower members with new client relationship software.

Falls Church, Va., Salt Lake City — Sept. 14, 2016 — The National Association of Insurance and Financial Advisors will partner with Skipio to provide members with a customer relationship software and communications tool comprising texting, email, voice messaging and mobile invoicing to personally connect with their clients.

“NAIFA’s 40,000 members are community-based business owners who understand the value of retaining clients with ongoing communications about their financial security, while finding new ways to connect with prospects and engage them with messages about their services,” said NAIFA President Paul Dougherty, LUTCF, FSS, HIA. “Skipio offers an effective solution for insurance and financial advisors to reach both audiences with personal messages across multiple platforms.

Skipio provides a user-friendly dashboard for financial professionals to engage their customers with authentic conversations immediately and efficiently, enhancing their ability to establish personal one-on-one relationships with every customer they serve.

“NAIFA has been serving consumers for more than 125 years, so they know that consistent and calculated contact with clients and prospects over time is critical to growing and building their businesses,” said Randy Garn, chief marketing officer of Skipio. “We are thrilled that Skipio can be the key for agents to accomplish this more effectively and successfully.”

Representatives from Skipio will attend NAIFA’s 2016 Performance+Purpose Conference Sept. 17-19 in Las Vegas, during which members will have the opportunity to view a demonstration of the CRM tool.

NAIFA members interested in receiving more information about this exclusive partnership, which involves members-only pricing and other benefits, may visit or text the words NAIFA to 888-810-6315.

About NAIFA: Founded in 1890 as The National Association of Life Underwriters (NALU), NAIFA is one of the nation’s oldest and largest associations representing the interests of insurance professionals from every Congressional district in the United States. NAIFA members assist consumers by focusing their practices on one or more of the following: life insurance and annuities, health insurance and employee benefits, multiline, and financial advising and investments. NAIFA’s mission is to advocate for a positive legislative and regulatory environment, enhance business and professional skills, and promote the ethical conduct of its members.

About Skipio: Skipio began with the simple goal of providing an easy-to-use software that allows businesses to consistently and personally reach their customers through text, email, and voicemail. It has continued to develop to become the most manageable and simple tool for contacting, communicating and keeping your clients. For more information: