An Interview with Michael Mares, President of NAIFA

Interview by Phil Calhoun with Michael Mares, President of NAIFA

1. HOW DID YOU GET INTO THE INSURANCE BUSINESS AND WHAT ARE YOUR EARLY CAREERS HIGHLIGHTS?

I received my insurance license in July 2006. About one week prior to graduating from UC Berkeley, my dad invited me to join him at the NAIFA California conference in May 2006 at the Hyatt Regency in Newport Beach, CA. He told me there was a lot to learn by working in this profession and from attending NAIFA meetings and networking with other professionals.

Through my involvement with NAIFA, I learned to diversify my revenue streams. Group benefits—including medical, dental, vision, and long term disability insurance—provided me with recurring revenue. I aligned with a major mutual carrier as a field representative where I generated revenue from new sales and enjoyed renewal commission. Lastly, almost three years ago, I added investment management to my practice.

2. WHAT TYPE OF CLIENTS DO YOU WORK WITH NOW?

I typically work with service professionals and medical professionals. I work with many dental practices to provide group benefits due to a strong referral partner.

3. WHAT INDUSTRY TRENDS ARE YOU MOST CONCERNED ABOUT FOR THE FUTURE?

I am concerned that not enough people are joining the industry. With the silver tsunami of retirees and the largest transfer of wealth, there are less professionals to serve them. Those concerns are also opportunities to serve more people.

4. WHAT IS YOUR PASSION FOR HELPING OTHER INSURANCE PROFESSIONALS?

I believe that a rising tide raises all boats. I want clients to work with advisors who abide by a code of ethics such as the one we uphold with NAIFA.

5. NAIFA HAS BEEN VERY HELPFUL FOR SO MANY PROFESSIONALS. YOU SERVED AS PRESIDENT OF THE LA CHAPTER/STATE? WHAT DO YOU SAY ARE THE MOST VALUABLE BENEFITS OF MEMBERSHIP?

NAIFA is about advocacy, education, and differentiation. I want to promote a positive legislative and regulatory environment. NAIFA has legislative advocates in every statehouse in our nation. Additionally, NAIFA’s team of legislative advocates are in Washington, D.C. These resources provide our members with a voice. Our advocates are also our eyes and ears as changes are considered.

I BELIEVE THAT A RISING TIDE RAISES ALL BOATS. I WANT CLIENTS TO WORK WITH ADVISORS WHO ABIDE BY A CODE OF ETHICS SUCH AS THE ONE WE UPHOLD WITH NAIFA.

NAIFA is about networking and education. In addition to the resources I receive through my company and carrier affiliations, I want to ensure I am learning from industry thought leaders. NAIFA members are different because they invest their time and talents into an association that wants to provide better conditions for Main Street America.

Michael A. Mares served as President of NAIFA-Los Angeles for two terms. He is currently a member of the NAIFA-CA Board of Trustees and is in line for NAIFA California Board President. He has also held leadership roles within NAIFA, including serving as IFAPAC Chair.