An accomplished life insurance professional with decades of senior level financial services experience, Michael Wodchis has served as vice president of strategic alliances/business development with Windsor Insurance Associates since 2013. To stay informed and enhance his role with Windsor, Michael Wodchis holds active membership in multiple industry organizations, including the Association for Advanced Life Underwriting (AALU).
As part of its mission to help its membership tackle the issues that impact them the most, the AALU recently spearheaded comprehensive efforts to examine the widespread implications of the Department of Labor (DOL) Fiduciary Rule. Scheduled for full implementation in July 2019, this rule threatens to change the way that financial professionals interact with clients and generally conduct business.
Of specific concern for brokers and insurance agents who handle retirement plans and/or provide retirement planning advice, the DOL Fiduciary Rule will elevate these positions to the fiduciary level. As fiduciaries, people who hold these positions would face stanch requirements to work only in the best interests of their clients, put their clients’ needs far above their own, state all fees and commissions in easy-to-understand dollar form, and fully disclose any and all potential conflicts of interest when it comes to investments and other financial matters.
As vice president of strategic alliances and business development with Windsor Insurance Associates, Michael Wodchis continues to build on a long career in life insurance and the broader financial services industry. With this expertise, Michael Wodchis became one of five insurance professionals to contribute to the article “Under Control.”
Published in the January 2010 edition of Best’s Review, “Under Control” examined the ways in which annual reviews can recalibrate client life insurance portfolios to address any deficiencies or inconsistencies. Furthermore, the article contended that a yearly meeting can help to reassure clients by showing them that they are well covered, their products are performing as expected, and that all of their risk management needs have been addressed.
Mr. Wodchis joined AXA Advisor’s Cynthia Block-Taylor, who praised annual reviews for turning up unexpected items of concern, and ACE Private Risk Services’ John Paolini, who stressed the importance of annual reviews as a method of keeping up with evolving market trends. Mr. Wodchis’ contribution to the article discussed the ways in which an outside forensic life policy audit can benefit any life insurance advisor’s annual client reviews.
Michael Wodchis serves as vice president of strategic alliances and business development for Windsor Insurance Associates in Woodland Hills, California. He earned a bachelor’s degree in politics and economics from Syracuse University, where he was a member of the varsity rowing team. In addition, Michael Wodchis once represented Canada at the World Rowing Junior Championships.
The 2017 World Rowing Junior Championships were held this past August in Trakai, Lithuania, and served as a qualifying event for the 2018 Youth Olympic Games. The breakout star of the event was 17-year-old Clark Dean of the United States, who captured gold in the men’s single sculls ahead of Moritz Wolff of Germany and Mmbudzeni Masutha of South Africa. Esther Briz Zamorani of Spain claimed gold in the women’s single sculls, while Megan Hancock of South Africa won silver and Margaux Bailleul of France earned bronze.
Croatian twins Anton and Patrik Loncaric won the gold medal in men’s pairs, while Croatia’s women’s four team dominated its competition en route to earning gold as well. The men’s eight and women’s eight championships were defended, respectively, by the 2016 winners, Germany and the Czech Republic. A total of 17 countries won medals at the five-day event. Romania topped the list with six medals, while Great Britain and Croatia finished second and third, respectively.
An insurance and financial services executive with more than 30 years of experience, Michael Wodchis serves as vice president for strategic alliances and business development at Windsor Insurance Associates in Woodland Hills, California. Beyond his day-to-day professional duties, Michael Wodchis maintains membership in the Association for Advanced Life Underwriting (AALU).
In its efforts to advance the life insurance profession and consumers, AALU oversees a variety of programs and activities focused on advocacy and education. The organization’s largest event is its annual meeting, which brings members of the life insurance community together for several days of workshops, networking events,and presentations focused on personal development.
AALU’s next annual meeting will be held April 29-May 1, 2018, at the Washington Marriott Marquis in Washington, DC. The three-day event will feature an education program comprising daily professional development workshops. Attendees also will have the opportunity to take part in several networking activities, including receptions and the seventh annual AALU Fun Run and Walk.
Other highlights of the AALU 2018 Annual Meeting will include advocacy events on Capitol Hill and an exhibit hall featuring more than two dozen companies. Registration for the event is open online to both AALU members and nonmembers. For more information, visit www.aalu.org/annualmeeting.
Before entering the life insurance business and most recently serving as vice-president of strategic alliances/business development for Windsor Insurance Associates in Woodland Hills, California, Michael Wodchis attended Syracuse University – Maxwell School of Citizenship and Public Affairs in Syracuse, New York, where he earned a bachelor of arts degree in politics and economics. While attending Syracuse University, Michael Wodchis was a member of the Delta Upsilon Fraternity and was on the varsity rowing team.
The Maxwell School at Syracuse University focuses on educational programs involving international relations, along with public policy and social sciences. Opened in 1937, the Maxwell School promotes diversity and offers a variety of courses and degrees that range from bachelor’s to master’s and PhD programs. The school also includes the department of political science, with undergraduate studies for students who would like to major or minor in political science.
Undergraduate degrees in political science include courses that range from “American Politics and International War and Peace” to “Political Theory” and “Democracy and Political Mobilization.”
Experienced in establishing strategic partnerships for the purpose of distributing life insurance products, Michael Wodchis serves as vice president at Windsor Insurance Associates. Actively engaged in his profession, Michael Wodchis holds memberships with the Society of Financial Service Professionals and the Association for Advanced Life Underwriting.
As part of its mission to represent the interests of its members and the entire life insurance community, the Association for Advanced Life Underwriting (AALU) maintains a government affairs team at its office in Washington, D.C. From this office, AALU focuses on advocating in three areas, including the taxation of life insurance products.
According to AALU, two-thirds of American families depend on life insurance products. In addition, companies rely on these plans to finance employee benefits and to remain operational in the event of the death of key organizational figures.
AALU recognizes the efforts of Congress to address the fiscal issues of the United States and acknowledges the desire of some in government to reform the tax code. However, AALU advises Congress that any changes to the tax code should not extend to life insurance products. According to AALU, retaining the current tax treatment of these products is important not only to those families and businesses that rely on them, but also to the health of the overall US economy.
As an executive in the life insurance industry, Michael Wodchis balances his professional life with his commitment to personal fitness. Michael Wodchis stands out as a 10-time marathon runner who completed his fastest marathon in three hours and 13 minutes.
Virtually all marathon runners want to improve their speed. Many simply calculate the desired pace and strive for that pace on every run, though this strategy fails to consider the increased demands of a 26.2-mile endeavor. To account for this variable, runners should begin by calculating the maximum speed they can sustain for as long as an hour.
When runners know this pace, they can develop strategies for increasing both speed and endurance. Experts suggest that speed should be the focus as long as the race is 12 weeks or more in the future. Up to this deadline, runners can work on balancing repeats of their maximum long-distance speed with moderated long runs.
Meanwhile, runners can work on increasing overall maximum speed by incorporating variable pace and tempo runs into their weekly training sessions. Speed and tempo runs work best when interspersed with long runs and easier runs. Ideally, runners will follow their most rigorous workouts with rest days so their legs can recover and have the strength to incorporate gains.