Phoenix, Arizona, June 1, 2015: Americans are in danger of losing a vital part of their financial heritage and liberty because of a lopsided campaign against annuities and their marketplace, which has thrived and served the public nobly for centuries. Beginning today, Americans for Annuity Protection (AAP) is fighting back to preserve the right that our nation’s families have to accessible and competitive annuity products that provide guaranteed retirement income and savings protection. AAP is a 501(c)4 nonprofit advocating for an annuity marketplace that is comprehensive and well-regulated, and where consumers receive unbiased and reliable annuity information from a financial or insurance professional of their choosing.
Americans for Annuity Protection is headed by Chairman Paul Feldman, Vice Chairman Kim O’Brien and Treasurer David Kefford. O’Brien will also serve as Chief Executive Officer and Kefford as Chief Financial Officer of the organization. “I know first-hand that the life insurance and annuity industry needs a new voice that will speak for our clients,” says Feldman, who is also the publisher of InsuranceNewsNet. “We have been drowned out by powerful financial interests and media that are not giving consumers the full picture.
Now, with the Department of Labor’s new fiduciary standard rule, the annuity industry and the consumers who depend on it are under assault. That propelled us to act immediately.” O’Brien adds that in her decades of industry experience, she has been proud to see the opportunities expand for ordinary Americans to protect their financial future. “Annuities and their agents and advisors are the Main Street options for Americans who can’t afford boutique advisors,” O’Brien says. “As Americans watch their pensions and nest eggs erode, they need this industry now more than ever. We work with the Americans who come to us with their fears and anxieties of outliving their savings and then we deliver guaranteed income for life and protection from stock market losses.” Feldman says that is why he is raring to raise a stronger voice to defend Americans’ right to choose their financial options and own their future. “If we do not speak up now, we will look back at this time as when we could have preserved a way of life and an essential segment of our economy,” Feldman says. “I am so glad we have Kim aboard for this fight. She has been at the forefront many of other battles that helped maintain this industry’s ability to protect Americans. That experience will help us for the even bigger struggle ahead.
Paul Feldman is a third-generation insurance professional with 23 years of industry experience who owns and publishes the award-winning InsuranceNewsNet Magazine and website.
Kim O’Brien is a 30-year annuity veteran who has served all areas of the annuity industry, including product development, marketing and distribution. ABOUT AAP: Americans for Annuity Protection is a 501c4 nonprofit formed in 2015 by insurance and annuity veterans to ensure a diverse and competitive annuity marketplace serving Americans across the economic spectrum.
Our offices are located in Phoenix, Arizona; Washington, D.C., and Camp Hill Pa. Visit www.AAPNow.org to learn more.