The Insured Retirement Institute (IRI) has replaced NAVA as the consumer’s protector, according to “NAVA Gets Makeover” by Carrie Burns of Insurance Networking News. With new employees and a new home in Washington D.C., the IRI plans to make sure that the insured retirement industry grows stronger. They also want to ensure that investors in these guaranteed income annuities and other products are treated ethically and are well protected in the marketplace.
The IRI’s four main goals are to confirm that ethical practices are always followed in the industry, advocate for the understanding of the value of insured retirement options, safeguard “best practice standards” and “value delivery” within the industry, and to work with policy makers regarding retirement issues.
IRI’s Chairman of the Board of Directors, Mark Casady, stresses that this change is not simply a rebranding tool. The company plans to change the direction of the insured retirement industry as a whole for their own members, financial advisers, and investors alike. Their website is focused on providing information about annuities, other insured retirement products, and the retirement plan process.