Close
ThinkAdvisor

Practice Management > Building Your Business

NAILBA To Operate On Own

X
Your article was successfully shared with the contacts you provided.

NU Online News Service, Jan. 31, 1:53 p.m. – The National Association of Independent Life Brokerage Agencies, McLean, Va., says it will become a “stand-alone operation” in July.

The transition is beginning now, says Edward R. Murray, the current chairman of the 20-year old brokerage agency trade association.

Stand-alone status means the association will now handle its own management. Up to now, it has been managed by the Association Management Group, McLean, Va., a professional association management firm. For 15 years, AMG Chairman Charles D. Rumbarger had served as NAILBA executive director.

NAILBA originally contracted with AMG when the association and the brokerage industry were new. One of the goals was for AMG to help the association get on its feet and eventually move to stand-alone status, Murray notes. Now, “that day has arrived for NAILBA.”

Stressing that “there is no animosity or contentiousness” between the organizations, Murray says the NAILBA board is now discussing providing for a future consulting agreement with AMG for supplemental services.

AMG has performed “very well,” he adds, but “at this stage in our growth, development and financial security, the [NAILBA] board feels this is the best business decision for the organization.”

NAILBA is now forming committees to ease the transition, Murray says.