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National Association of Insurance and Financial Advisors (NAIFA) Taps Practice Intel as a Key Resource for Members

NAIFA will utilize Practice Intel’s proprietary software to help advisors and firms accelerate growth by improving the quality of advice.

National Association of Insurance and Financial Advisors (NAIFA) Taps Practice Intel as a Key Resource for Members

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The National Association of Insurance and Financial Advisors (NAIFA), which empowers financial professionals and consumers through world-class advocacy, education and differentiation, today announced a strategic partnership with Practice Intel, a data analytics and performance improvement platform to help advisory firms improve the quality of advice they deliver to their clients and drive organic growth in the process.

Practice Intel delivers concrete data regarding client sentiment and perceptions on the things that matter most to clients, based on groundbreaking research from J.D. Power & Associates, empowering advisors to enhance their value proposition and streamline practice improvement. The dynamic platform, designed by a veteran J.D. Power executive, helps advisory firms to measure, improve and monetize the quality of their client relationships, while providing tools for quality control, strategic improvement and risk mitigation. NAIFA’s members will gain full access to Practice Intel's software, along with thought leadership content shared through NAIFA's Business Performance Center, a community of professionals focused on enhancing their firm's or agency's practice management.

“NAIFA has long been a champion of both the advisor/agent, and their clients,” said Kevin Mayeux, CEO, NAIFA. “Practice Intel embodies the spirit with which we serve and support our membership via advocacy, education and differentiation, and is a strong complement to our Code of Ethics. By offering these research-driven insights to our members, our objective is to deepen relationships, improve the quality of advice and strengthen the collaborative dynamic that leads to the best advisor-client relationships.”

Additionally, this partnership brings Practice Intel’s proprietary Relationship Quality Index™ (RQI) to NAIFA membership. RQI serves to quantify and monetize the quality of client relationships, critical for accurately evaluating the value of a book of business during potential acquisitions or exits, empowering advisors to enhance their value proposition client services and streamline practice management. For firm owners and managing partners, Practice Intel’s platform offers valuable insights into how clients perceive their practice, while also providing actionable feedback to strengthen their offering.

“Financial professionals want to believe that the strength of their client relationships are iron-clad, and oft-times they have no reason to believe otherwise. And yet research shows that just over 10 percent of clients report that they are receiving an ideal advice experience,” said Tom Rieman, CPWA, CEO, Practice Intel. “NAIFA members have extremely high standards for client service, and we want to help them to identify blind spots. The world is changing rapidly, and what worked well five to 10 years ago may not be resonating as well today. Maintaining a finger on the pulse of the advisor-client dynamic for the benefit of all parties is what Practice Intel was built to do, and partnering with NAIFA in this capacity is a very fulfilling endeavor.”

Practice Intel’s mission is to enable more people to realize the full potential of financial advice and subsequently help advisors achieve meaningful organic growth. The firm helps advisors generate practice-level data analytics to measure the quality of the client relationships and provides strategic direction on how to improve.

To learn more, visit belong.naifa.org and pracintel.com.

About The National Association of Insurance and Financial Advisors

Founded in 1890, The National Association of Insurance and Financial Advisors (NAIFA) is the preeminent association representing insurance and financial advisors across the United States. Dedicated to supporting its members, NAIFA delivers value through advocacy, service, and education to enhance their professional skills and business practices. The association focuses on empowering advisors to better serve their clients and uphold the highest ethical standards, and works to advance the value of financial advice and the role of its members in the financial services industry.

About Practice Intel

Practice Intel is a data analytics and performance improvement platform helping financial advisory firms accelerate growth and increase enterprise value by improving advice. With a mission to enable more people to realize the full potential of financial advice, the platform helps advisory firms to measure, improve and monetize the quality of their client relationships, while providing tools for quality control, strategic improvement and risk mitigation. With features including their proprietary Relationship Quality Index (RQI), Practice Intel offers valuable insights into how clients perceive their practice, while also providing actionable feedback and resources to strengthen their offering.