NAVA, the Association for Insured Retirement Strategies, has changed its name to the Insured Retirement Institute, as part of a rebranding that includes a new mission and the welcoming of financial service professionals into the organization.
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, according to the nonprofit group.
The changes, including a move from Reston, Va., to Washington, D.C., will help it focus on “ensuring the insured retirement strategies industry thrives in the future, while protecting the consumers who invest in guaranteed income products like annuities,” according to a statement.
Cathy Weatherford
Cathy Weatherford, CEO and president of NAVA and now IRI, said the changes come at “a critical moment in our industry that requires a new, reinvigorated approach.”
“We will provide consumers with the knowledge and confidence in retirement planning that can no longer be taken for granted,” Weatherford said in the statement.
The organization’s new mission includes encouraging industry adherence to the highest ethical principles; promoting better understanding of the retirement value proposition; developing and promoting best practice standards to improve value delivery; and advocating insured retirement strategies to public policymakers.
“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 chair of the IRI board of directors, in a statement. “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.”
James A. Shepherdson, executive vice president at AXA Equitable and incoming IRI chair, said the success of retirement planning “depends on advisors being well-educated and well-informed on the latest developments in order to confidently recommend these products.”
IRI created a new website it said captures the needs of the investing community and provides relevant content and tools on retirement investing. The new site offers IRI members, financial advisors and consumers a central resource for the news and tools for insured retirement planning.
NAVA retires old name, relaunches as Insured Retirement Institute via IFAwebnews.com .
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