The financial services industry has been battered by regulation but a speaker reassured the NAIFA Conference attendees that things will be all right.
"We'll get through this," Joseph Jordan told the delegates during Saturday's general session. Jordan is a motivational speaker and author and founder of the Insured Retirement Institute.
"There's too much need for the advice we provide. With an aging population and government unable to provide benefits, our advice is crucial," he said.
"Your job is to make sure the money outlives the people."
Also speaking at the opening session was Don Trone, founder and CEO of 3ethos. Trone conducted a workshop earlier in the day on complying with the Department of Labor fiduciary rule. Trone called the rule "a goat rodeo" in his remarks. He added that more than 8 million people already serve as investment fiduciaries and that 80 percent of the nation's liquid financial wealth is in the hands of those 8 million.
Trone discussed the concept of behavioral and inspirational governance, which is centered on understanding what governs people's critical decision-making. Looking ahead to what the elite financial advisor of the future will be, Trone said that behavioral governance will be more important to the future advisor's value than technical skills.
The session concluded with a presentation by Alex Sheen, founder of Because I Said I Would, a social movement and nonprofit organization dedicated to the betterment of humanity through promises kept.
Sheen described how his father's death inspired him to give out cards printed with "because I said I would" and write a promise on the cards. When the promise was fulfilled, the recipient of the card would return it to Sheen.
Sheen's promise card campaign grew to the point where he sent out 4.47 million cards around the world since Sept. 4, 2012.
"This movement is about doing what you can with what you have," he said.