NAVA, the Association for Insured Retirement Strategies, has announced that they will henceforward be known as the Insured Retirement Institute. The rebranding reflects the institute’s expansion in mission to include consumers and financial advisors.

“This is a critical moment in our industry that requires a new, reinvigorated approach,” said Cathy Weatherford, the president and CEO of the new organization. “IRI will be a trusted resource for consumers.” The new mission will include encouraging ethical behavior within the industry, educating people about the value of an insured retirement, promoting best practices and lobby public officials regarding insured retirement strategies.

According to Mark Casady, CEO of LPL Financial and the new group’s chairman, “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.” He went on to explain that the new brand “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.”

IRI hopes that by bringing advisors into the fold it can help them become better educated and informed regarding the products they sell. By putting the interests of the consumer first, the group hopes to increase consumer confidence in insured retirement planning.

Along with a new location, in Washington, D.C., IRI has launched a new Web site, www.IRIonline.org, which features industry news and information as well as retirement planning tools designed for the consumer.