Amber [00:00:00]:
Hello and welcome to The Amber Stitt Show. I am your host, Amber Stitt, and today we welcome my friend and colleague and fellow board member of WIFS, Adam Roth. Welcome, Adam.
Adam Roth [00:00:10]:
Thank you. Thank you for having me, Amber.
Amber [00:00:12]:
There's more titles there, too, but we'll condense for now. So we've been talking about having an episode together for a while, mainly, I think in 2024 to celebrate your NAIFA presidency, NAIFA - Arizona, as well as me going in for Phoenix for Women in Insurance and Financial Services. I met you through NAIFA, but then you happen to become a board member also at WIFS. And we are joined that way among doing some charitable work. So it's always fun, I think, to let people know what they can truly be a part of, and that's why I think you're great for the audience. So thanks for being here today.
Adam Roth [00:00:43]:
Thank you. Yeah, thanks for having me.
Amber [00:00:45]:
So I know that you've been with NAIFA for a little while, and I didn't really understand what NAIFA was. What's the thing with NAIFA? I know that when I got into the industry, get my insurance license, join NAIFA, and it was back in Nebraska when I did that, didn't really understand just your an insurance professional, become a member. It's good for you. But I didn't know what's involved. And fast forward, I rejoined again about four years ago. I think we were at the anniversary party last year for about three to five years membership, but I learned there was so much more there. So can you tell the audience what NAIFA does in general for the nation?
Adam Roth [00:01:19]:
Yeah. Well, I thought the same thing when I first joined. I thought it was just a way to meet up with insurance and financial service people, and most of them were friends of mine in the local area, in Tucson. So I joined just because, the same thing, I felt I should be a part of this group. And it wasn't until I think later when I became a board member of the Tucson chapter, I really understood what NAIFA does. I was invited to my first "Day on the Hill", and I'm thinking, "Okay, so why are we going to Phoenix to talk to our decision makers?" And then I found out what NAFA really does. So they're the only professional organization in this industry that has a voice for not just us, the salespeople, but our clients as well, because what affects decisions in this industry, affects them as well.
Adam Roth [00:02:12]:
We're an advocacy group that will go and challenge certain decisions for the better of the industry, for both the people that are in it, selling it, and our clients, because at the end of the day, that's what we're trying to do. We're trying to help people. It affects us. It affects them. As you know, NAIFA is a membership organization. So there is dues. And people wonder, "Okay, well, where do these dues go to?" Well, we pay a lobbyist that goes to the floor and is our voice for NAIFA.
Adam Roth [00:02:44]:
NAIFA, Arizona, NAIFA, whatever state you're in, most pay for a lobbyist to help make those decisions. Now, I mentioned the "Day in the Hill", so that's our chance to go and we meet with our decision makers that are in our districts to tell them yes or no. "Here's what's going on. This is what's proposed right now in Congress. And a yes vote will have this effect and a no vote will have that effect." A lot of times they really don't understand. They get their notes from whoever's proposing this change, and they may not understand the insurance world entirely.
Adam Roth [00:03:22]:
So that's our opportunity is to go in and say, well...and they'll ask questions. They have a list of questions to ask. Well, so if this happens, then what's the effect? And if this happens, then what are the changes that need to be made? Right? Yeah. So it's a great organization and not just the advocacy group part of it, but the mentorship. I've met so many people along the way, and I met yourself. I met just some really good people in the industry that I can learn from. One thing about now being the president is I'm taking the knowledge that I have and I'm building on top of it. I'm growing.
Adam Roth [00:04:00]:
You just never stop learning. And so the people that have been in the industry a lot longer than I have, I can learn from. And I think that's just a great place to be in if I want to build myself into this position. Know I'm helping more people because I have more knowledge. That's really my reason for being part of not just NAIFA, but WIFS. I'm surrounded by the certain demographic in the industry that I like to be around because I can learn from all of you.
Amber [00:04:30]:
All the counterparts, and that's why we say not less men, just more women. And we have our "manbassadors", we use that phrase, but just learning from both sides. And I know that we've talked about this membership and just our history being in the business. For me, fast tracking the ability to meet members, maybe younger members or people that are new in our industry. To get them maybe to be not so much strategic partners, but there's a partnership that happens when you meet other members and you share your story and you see what other people are doing in their work, that you could potentially refer people, maybe clients, or find a solution. But there's the thought leadership, and I feel that my business has really...there's been an increase in profitability, or maybe just confidence levels in myself and beyond by being a part of organizations like this, because you can be around other successful people and know that even little things that you can do make a difference. It might not feel like that until you're around other people that are doing the same thing and are doing it with you.
Adam Roth [00:05:26]:
Right. And you hit the nail right on the head because there's plenty of this in our industry that advisors/agents that are being aged out. So you have the younger right out of college or maybe a couple of years out of college where they take a certain job thinking, okay, they got recruited out of college. This is probably the way they want to go. A lot of them come back to the financial services and insurance. I had a connection with an organization at the University of Arizona, and a lot of those members still reach out to me that are now going into financial services. If they didn't do it right out of college, a lot of them are coming into the industry. So they need people like yourself, they need people like me to guide them a little bit, but they're well connected.
Adam Roth [00:06:08]:
They have different ways of finding the people that they need to talk to. So I think having that younger demographic in your wheelhouse as part of like, "Hey, let's kind of collaborate, let's work together," is going to be huge for the future, because like I said, there's a lot of the older advisors, men and women, that are just being aged out. They're looking to retire. They have a book of business. They're trying to service their clients, and even their clients are getting older. So I think that's important to reach out to that group of younger advisors. Now, NAIFA had the vision, and it was The Young Advisors Group, and that was for, there's certain requirements, I guess. So either you were new to the industry, or you're younger than a certain age.
Adam Roth [00:06:55]:
So those two categories. Right. And it was good to have just another group to meet because they want to meet with each other. Right.
Amber [00:07:04]:
Mentor/Mentorship. Even though you're talking about the aging book of business and maybe that retiring advisor, there's still wisdom there, too. And then we have the younger people that we can help them fast track, maybe skip a couple of steps if we know what they might need, because we've been there, done that. I'm really seeing this. I'm in the mid 40s, where I'm seeing the younger and this other succession kind of situation where there's a new life coming for the ones who are retiring, and then people are coming in for a new life. And there's this reciprocating thing that's happening between all of us in our career paths and just maybe being on a board for the first time, or being president, it's all learning and evolving and doing it together, which has been pretty fun. Not always easy, but it's fun.
Adam Roth [00:07:45]:
Yeah. And then it's using technology. And that's one of the reasons when I sought you out at Apex.
Amber [00:07:51]:
Apex. Yeah. NAIFA Apex shout out for September ´24.
Adam Roth [00:07:55]:
Yeah. In the Biltmore area. But, yeah, one of the things I would follow you. And I thought, "Wow, this person is doing something that most people aren't. I want to learn on social media". Yeah. And that's what I mean about constantly learning is, I wanted to learn from you. And then we built this mentorship, friendship, so that's what these organizations could lead to.
Adam Roth [00:08:18]:
And, yeah, I saw that you were doing something that a lot of advisors weren't, and you're reaching out to people using certain type of medias, and some of the younger generation they're using. I'm still trying to wrap my head around TikTok, but that's a way of communication.
Amber [00:08:33]:
It's a way. I haven't gone down that road, and I think it's okay to pick your platform, or platforms. Yeah, but I haven't gone TikTok. Our audience probably has compliance, so we're not do whatever your compliance says.
Adam Roth [00:08:45]:
Right. And that's just an example. But there are some advertisements on there for people that are doing certain things.
Amber [00:08:52]:
We need people to help us be better, and vice versa, for sure.
Adam Roth [00:08:56]:
Right. And then you're seen in a certain way to many people, and if they see that you're there to help people. And that's why I'm in this industry in the first place, is because I want to help not just people, but my community, which probably ties into the nonprofit stuff that we're both advocating for.
Amber [00:09:15]:
So talk about being on a board because, (and let's stick with NAIFA here), some people aren't ready for that. Some people think they are, and they get into it, maybe are not, but it's so important. And talk about why being on a board is really crucial, or maybe having the affiliation with people that are on the board to help facilitate some of these things. It's an important thing to an organization. And so can we talk about how you went from that into the presidency?
Adam Roth [00:09:38]:
Yeah. So, like, again, I decided to join NAIFA just because I had good, close personal friends in the idustry and I felt, "Well, yeah, it's a professional organization, so I want to be a part of it." I was just starting off not so much in the insurance world, but in a different aspect of it. And I was trying to wrap my head around being a property and casualty agent on top of being a life insurance and financial services agent. I wanted to be around people that are doing it. So I chose NAIFA. I was invited to a lunch. I thought it was great.
Adam Roth [00:10:12]:
And I think the next day, I signed up as a member. So I was a member for maybe a couple years. And then what happened was the Tucson chapter needed to fill some board members positions. I was involved quite a bit, not just attending the meetings, but as a voice. And then they were asking me questions, "So what do you think about what's going on?" Right? So I would give my opinion, and I think that showed them that I'm more than just a member of this organization.
Amber [00:10:40]:
An attendee of an event.
Adam Roth [00:10:41]:
They put me on the board, and I was just a member on the board. And it took a little bit. And then we had our succession planning, and then I was the president elect for the Tucson chapter. In a short amount of time. There was some changes, and I was president in about a couple months after I was elected president elect, which I didn't have that full year to wrap my head around the process.
Amber [00:11:04]:
Forgot about that.
Adam Roth [00:11:05]:
Yeah. So the board kind of thinned out, but we had some past president that was in Tucson that helped tremendously, Diana Harris Brettrager, helped me so much to build my confidence to be in that position. And just showed me the process. So we kept that board going for a couple years until NAIFA national decided to do away with the local chapters, and at which point, we did a good job keeping the Tucson chapter afloat financially and members. I was now on the state board, I think about that's when the world turned upside down. I was in a position. I was the president elect for the state when Covid hit. And I was the president elect for about three years just because we didn't want to make the transition.
Adam Roth [00:11:55]:
Excuse me. So my role was basically membership. I was in charge of membership in those three years. We got to the point we were a growth state and that says a lot. I mean we didn't hit the numbers that we wanted to, as far as growth, but we were still one of the leading states as far as growth in memberships, retention. So that was good during that time. So it gave me a little more time in this case to prepare myself for now, being the president of NAIFA Arizona, which I'm still advocating for membership, I think every member on the board should be on top of membership. It's not just one person, it's not just two people, it´s not a committee.
Amber [00:12:36]:
Sharing the information, the wealth of knowledge that we need as a collective.
Adam Roth [00:12:41]:
Because these organization, our organizations run on membership. We can't pay our lobbyists, like I mentioned earlier, if we didn't have the dues coming in to do so. And that all comes from membership. There's other things that can come from that as well. Membership, you have financing to get speakers to do certain things. A lot of times they are members. So they help us out because they believe in NAIFA and they believe in NAIFA Arizona.
Amber [00:13:08]:
Well, you picked back up about the advocacy, so let's go into that. I don't think many people know how amazing this is. And I remember learning about the advocacy, the legislative side around the last election, lots of stuff about voting and drama on media, all these things. And then there was Covid and then we're just, "Where do you get your information?" And I see that there's this organization that's packaging both sides of the table. So, Left or Right it´s working together and saying, "Here's the facts." Now, they don't maybe always agree, but they're moving the drama aside and saying here's what's really happening and here's what could happen to families if we don't advocate. So outside of members and having these events and social community, which is important education that NAIFA offers as well, and maybe combination of both locally and throughout the nation. But beyond the "Day on the Hill", beyond even going into DC, there's so much that's happening there.
Amber [00:14:03]:
And I had taken advantage of going to DC the last couple years working with not just NAIFA specifically, but also insurance carriers that were bringing other people like, you know how that works. They were sending people and just very intimidating to go to DC, get matched up with your people, and then you're going and walking in that room and saying, "Here's why it's important." And you might go with somebody that's been there, done that. But in my go, you know, I believe in certain things here in Arizona, and I'm going to DC to talk to people or their office and staff, which is still important. They're young, but they care and they are fully educated on what the policies are. But we need to explain what's happening at home or within the nation by policies being enacted. And when you started this episode with me, you were talking about talking with the people that are important on The Hill. They have these questions for us in the field, they'll call it.
Amber [00:14:58]:
They need to know what's really happening at the dinner table, because these policies and the legal contracts just keep coming. But they need that touch from people that are out there working with clients all the time, and all of these conversations matter. Would you agree with, like, it might not seem like it's really pushing the needle, but that's where NAIFA's done a great job of facilitating and bringing that grassroots movement.
Adam Roth [00:15:21]:
Yeah, absolutely. It goes from the national level to the state level to your local, to your smaller community. That's where it goes down to. So, yeah, you have the bigger picture, right? You went to DC to talk to your national decision makers, but it goes down to your locals. Right? It affects our community, it affects our industry, but within our local community. So it's extremely important, like you said, to talk to these decision makers, let them know we come in with a different perspective than what they're told or what the notes that they're giving about each law being proposed, the changes, the effects.
Adam Roth [00:16:01]:
So, yeah, we come in with a different perspective. So we're the voice on a national level, on a state level, on a local level. There's not very many organizations. Yes, there's companies, like you said, companies will send their representatives to these "Days in the Hill".
Amber [00:16:17]:
Or national boots on the ground. But it's NAIFA is doing the education. We sit in the class and we learn what secure 2.0 means and what was left off of it. "Oops." By accident, that they're going to amend things like that so that we can help our clients see what's happening. But it's a bipartisan educational opportunity is what I mean, which was one of the main things that I really liked about it. Just personally. I can be involved, but not spend all my time.
Amber [00:16:44]:
I need to be working within my business. I can participate throughout the year.
Adam Roth [00:16:48]:
Yeah, that's the nice thing about it, is you can choose how much involvement you want, but if you believe in something or something that will affect you directly, you´ll probably get more involved than not. And that's why I said I think everyone in this industry should be part of NAIFA, you know, we do pay attention about what's going on and a lot of times we won't pay attention until it affects us directly.
Amber [00:17:12]:
Yeah.
Adam Roth [00:17:12]:
NAIFA pays attention to all of, all year round. And that's what I like about it. I went from the local president to the state president. Now who's to say I stopped there. Now I want to go national, right? And I want to meet the decision makers to kind of get a different insight of what are they thinking. Why are they making these changes? Why would they want to make these changes in the first place, right? Is it maybe lack of education? Who knows? Right? So a lot of it, it's not just the advocacy. Like you said, it's the education part. There's so many different moving parts to NAIFA that will benefit anybody in this industry.
Adam Roth [00:17:50]:
And it goes beyond education, right? It's mentorship. It's camaraderie with like minded people. For me, the personal education, not just me educating somebody else of what we do and why we do it. It´s my personal growth and my personal learning. And that's the big takeaway for me. What I've gotten out of it and what I'm going to continue getting out of it is my personal growth, my education. Meeting people that I can learn from, like yourself and just being around people that care about their communities, care about their industry.
Adam Roth [00:18:23]:
There's something to be said about being around not just like minded people, but statistically it shows when you're around somebody that is making things happen. There's a better chance that you're going to do the same. So for me, if I want my continue my personal growth, I want to be around people that know the business, that are also learning from other people so they can direct me, "Hey, I just found this out. You should go talk to this person. They're great. I'm learning a lot from them." So I want to know those different avenues that's going to help me grow, not just as an agent, but as a person.
Amber [00:18:59]:
Yeah, it's definitely done that for me. And you are a great people connector, membership and beyond. You do have a gift of putting people together and I noticed that right away when I first met you. So it'll be neat to see what you do this year and beyond. So thank you so much for sharing with everybody how they can participate and the "why" behind it. And again, you don't have to be a board member, yet. You can try the membership, the advocacy. You can really mix it up and definitely reach out to one of us if it's something that you're interested in, because definitely really being a part of a virtual, or boots on the ground community, it'll level up the business, but also give you that confidence and that friendship.
Amber [00:19:36]:
That's been really nice for me. So I hope for that for everybody like yourself.
Adam Roth [00:19:40]:
Yeah. Thank you. And I'm excited for this year, me being the NAIFA president, you being WIFS president. I think together we can do a lot of good things, reach a lot more people this way. Whereas before, maybe it was separate. Right. There's one demographic and another, I think this marriage, if you will, between the two organizations we can reach a lot more people.
Amber [00:20:04]:
Very important. And wisdom from all levels and all generations, which has been really nice. Well, thanks for being here on the show.
Adam Roth [00:20:10]:
Yeah, thanks for having me.
Amber [00:20:12]:
I'll be seeing you soon, and definitely, we'll definitely be doing the Apex together this fall.
Adam Roth [00:20:18]:
Yeah, that's exciting and in our backyard.
Amber [00:20:21]:
Yeah, it is. I love that hotel. It's really nice.
Adam Roth [00:20:24]:
Well, thanks for for having me!
Amber Voice Over [00:20:28]:
Thank you for joining us on today's episode of The Amber Stitt Show. For more information about the podcast, books, articles, and more, please visit me at: www.AmberStitt.com. Until next week, enjoy your journey at home, and at work. Thank you for listening!