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July 19, 2009 at 08:00 PM
WASHINGTON, D.C. - Today, NAVA, the Association for Insured Retirement Strategies, announced a complete rebranding, immediately becoming the Insured Retirement Institute (IRI). Along with the name change is a new mission, new location and new staff focused on ensuring the insured retirement strategies industry thrives in the future, while protecting the consumers who invest in guaranteed income products like annuities.
“This is a critical moment in our industry that requires a new, reinvigorated approach,” said Cathy Weatherford, CEO and president of IRI. “IRI will be a trusted resource for consumers looking for guaranteed income in an economy and times where there is little certainty. We will provide consumers with the knowledge and confidence in retirement planning that can no longer be taken for granted.”
IRI’s new mission is to:
? Encourage industry adherence to the highest ethical principles;
? Promote better understanding of the insured retirement value proposition;
? Develop and promote best practice standards to improve value delivery; and
? Advocate before public policy makers on issues affecting insured retirement strategies.
“IRI’s new mission and energy will help to instill confidence in insured retirement strategies by advocating for the consumer and ensuring the highest ethical standards are met by our industry,” said Mark Casady, chairman and CEO of LPL Financial and IRI Chair, Board of Directors. “Becoming IRI is about more than just rebranding – IRI represents a new direction, not only for our association, but also for the entire insured retirement industry and the consumers who rely on our strategies. It’s a change we expect will have an immediate and lasting impact for IRI members, financial advisors and their clients.”
“The success of insured retirement strategies depends on advisors being well-educated and well-informed on the latest developments in order to confidently recommend these products,” said James A. Shepherdson, executive vice president of AXA Equitable and incoming IRI Chair. “That’s why IRI is bringing advisors into the fold – to give them access to as much valuable information as possible to make those recommendations.”
IRI says it will focus on the best interest of the consumer and improved productivity of the industry based on enhanced consumer confidence in the value they receive from insured retirement planning by becoming the authoritative source of all things pertaining to annuities, insured retirement products and retirement planning. The consumer will become a new focal point for intelligence gathering and financial advisors will be brought into membership to provide them with greater information, tools and training.
