IRI Membership with Overview and Images

1. IRI Membership
“Primary trade association
for annuities”
U.S. News & World Report

2.  Please tell us a bit about your business:
◦ Please describe your top
priorities, objectives, client base, etc.
◦ Are you interested in one particular area of IRI
membership?
◦ How widely used do you believe IRI
membership would be in your firm?
Before we begin...

3.  A little history...
◦ 1991- Industry founds NAVA as a narrowly focused
variable annuity association with a limited mission.
◦ 2008- Consumers are looking for good, credible
information about secure investment products. The
industry looks to showcase best practices and the
value of guaranteed retirement products.
◦ 2009- NAVA becomes IRI, a not-for-profit
organization serving as the authoritative source of
all things pertaining to annuities, insured retirement
strategies and retirement planning.
About IRI

4.  IRI today
◦ New Board of Directors- 24 industry leaders
◦ Central D.C. location
◦ Only association to represent the entire supply chain of
the insured retirement income industry: insurers, broker-
dealers, banks, asset managers, financial advisors and
solution providers.
◦ Core competencies:
 Research
 Education
 Advocacy
About IRI

5.  IRI exists to promote consumer confidence in the
value and viability of insured retirement solutions.
 In order to accomplish our mission, we:
◦ Encourage industry adherence to 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 critical issues
affecting insured retirement strategies.
IRI Mission

6.  Advisor Group- Larry  Lincoln Financial Distributors- Will
Roth, President and CEO Fuller, President & CEO
 Allianz- Gary Bhojwani, President  LPL Financial- Mark
and Chief Executive Officer Casady, Chairman and CEO
 AXA Equitable- Nick  Merrill Lynch Global Wealth
Lane, President, Retirement Savings Management- John
 Cetera Financial Group- Valerie Mulhall, Managing Director
Brown, CEO  MetLife- Robert Sollmann, EVP
 Crossroads Capital- James  Morgan Stanley Smith Barney-
Shepherdson, Managing Partner Joseph D'Agostino, Managing Director
 Fidelity Investments Institutional  Nationwide- John
Services- Bill Loehning, EVP Carter, President, NFS Distributors
 ING Individual Retirement- Lynne  New York Life- Chris Blunt, EVP
Ford, CEO  Pershing- Brian Shea, Chief
 Hartford Life- Robert Arena, EVP Executive Officer
 J.P. Morgan Funds- George  PIMCO- Tom Streiff, EVP
Gatch, CEO, Investment Management  Prudential Annuities- Steve
Americas Pelletier, President
 Jackson National Life  UBS Global Asset Management-
Distributors- Greg Cindy Vogl, Executive Director
Cicotte, President  Wells Fargo Retirement- John
 John Hancock- Mark Papadopulos, President
Costantini, President, Variable
Annuities
IRI Board of Directors

7.  IRI CEO Cathy Weatherford- former Oklahoma
Insurance Commissioner and National
Association of Insurance Commissioners CEO
 Former Director of Insurance, State of Ohio
 Former Chief of Staff, U.S. Senators
 Former Communications Directors, U.S. House
and Senate
 Former Chief Compliance Officer, several IRI
member companies.
IRI Staff

8.  500+ member companies
 100,000+ financial
advisors
 10,000+ home office
financial professionals
 95% of the top Insurers
in the marketplace.
 Insurers, Broker-
Dealers, Banks, Asset
Managers, Financial
Advisors and Industry
Solution Providers
Who are IRI members?

9. IRI is a not-for-profit organization that works tirelessly
to promote consumer confidence in the value and
viability of insured retirement strategies.
IRI is an industry leading…
 Resource for Financial Advisors
 Research and Thought Leader
 Advocate for the Industry
 Voice in the Media
 Solution Provider
 Educator
What is IRI today?

10. www.myirionline.org
Resource for Financial Advisors

11.  Speaking directly to nearly 500,000 financial
professionals
 Free resources on the IRI Members Only
Website (www.myirionline.org):
◦ Practice Management Tools
◦ FINRA Reviewed Materials (consumer
pamphlets, tips, articles and more)
◦ Industry Job Bank
◦ Advocacy Center
◦ Income Annuity Quote Tool
◦ IRI Fact Book
◦ Retirement Income Guide
Resource for Financial Advisors

12. Research and Thought Leader

13. IRI Produces more than 30 research pieces
every year.
 Exclusive research provided for free to all IRI
members.
 Developed the first-ever total annuity report
marrying the quarterly variable and fixed data
reports of Morningstar and Beacon Research.
 IRI partnerships provide additional research
content from industry leaders such as Boston
College, American College, Morningstar, Beacon
Research, Cogent, Cerulli and more.
Research and Thought Leader

14. What does the growing demand for retirement look like?
 In 2011, the first of 79 million Baby Boomers turned 65.
 4 million Boomers will turn 60 each year for the next 18 years.
From IRI research, free to all members…
 The number one trait Boomers are looking for in investment is the guarantee of income each month.
 7 out of 10 Boomers within five years of retirement are concerned about having adequate income during
retirement.
 More than 9 out of 10 Boomers who own insured retirement products believe they are doing a good job
preparing financially for retirement.
 Nearly half of Boomers stated that they would put most of their assets in an investment that provides
guaranteed income for life, even if it pays a “low” return.
 8 in 10 annuity buyers have incomes less than $100,000 and more than 6 in 10 earn less than
$75,000.
 95% of women identify themselves as being financial decision makers in their households.
 Only 34% of women are confident they will have enough money to live comfortably throughout
retirement.
 Two-thirds of advisors report that their clients have asked them about annuities.
Research and Thought Leader

15. Advocate for the Industry

16. A leader in advocacy and policy development efforts.
 Helped secure a clear exclusion for guaranteed lifetime income products
from the jurisdiction of the Consumer Financial Protection Bureau.
 Convened a Request for Information working group that completed a 41-page
response to the Departments of Treasury and Labor RFI on guaranteed lifetime
income products.
 Conducted more than 250 Capitol Hill visits to protect cash build up within
annuities and life insurance from immediate taxation.
 IRI is frequently called upon to provide testimony and comments to Congress and
federal and state agencies as well as state legislatures.
 Working closely with the SEC to create a VA summary prospectus and simplified
annual prospectus update.
 Worked to open Oregon’s market to annuity product features previously prohibited.
In Kentucky, led effort to defeat measures that would have required many
companies to stop selling GLB riders.
 IRI launched the Insured Retirement Institute Political Action Committee (IRIPAC).
 Lead a coalition that successfully sought the re-proposal of the Department of
Labor’s fiduciary rule.
Advocate for the Industry

17. Voice in the Media

18.  Garnering nearly $15 million in annual earned media.
 Successfully messaging IRI’s value proposition to an
audience of more than 140 million people annually.
 Reestablished National Retirement Planning
Week leading a coalition of 50 organizations.
 Quarterly reporter forums starting in early 2012.
 IRI featured in major industry and consumer
publications such as:
◦ The Wall Street Journal, Ignites, Investment News, U.S.
News & World Report, Bloomberg, The Hill, as well as the
NBC Nightly News.
“The industry’s main trade group.”
- National Underwriter
Voice in the Media

19. Over 150,000 classes taken!
Solution Provider

20. Industry wide, one-stop solution to new
NAIC annuity training requirements
 IRI worked with more than 70
member companies to develop this a
solution to the NAIC annuity
training requirements.
 Anticipated that 25 states will
be on board by this time next
year.
 Annuity Training Platform adopted for use by
nearly 75% of the marketplace. The one-stop
platform is now the resource of choice.
Solution Provider

21. Expanding the scope and implementation of
Straight-Through-Processing Standards
 New framework and focus to meet industry
challenges featuring IRI Advisory Board-
composed of senior Operations and Technology
leaders.
 IRI members have access to the IRI STP Portal
that contains rich implementation
documentation.
 Framework for the industry to quantify
criticality, prioritize, define parameters for
success, estimate costs & execute timely new
initiatives.
Solution Provider

22. Educator

23.  Free resources to all home office and financial advisor
members.
 Virtual University offers both RegEd and FINRA continuing
education online.
 Partners with major organizations – such as EBRI, AARP, WISER
and FSR – to offer highly-valued and widely-attended webinars.
 IRI Insight newsletter published 6 times a year, reaching more
than 500,000 financial professionals with each publication.
 FINRA Reviewed materials for unlimited use and download
directly off of the Members Only Website- 2 dozen and growing!
 Supplying intellectual capital from IRI member companies to
our over 100,000 financial advisor members including an “Ask
the Experts” quarterly piece.
Educator

24.  70% of attendees at or Marketing Conference
above VP level April 1-3, 2012
New York, NY
 25,000+ website visits
annually Government, Legal &
Regulatory Conference
 New IRI Conferences June 24-26, 2012
Mobile App Coming in Washington, DC
2012
Operations & Technology
Conference
June 24-26, 2012
www.iriconferences.org Washington, DC
IRI Annual Meeting
September 9-11, 2012
San Diego, CA
Annual IRI Conferences

25.  Asset Managers  Public Relations
◦ Capital Markets Subcommittee ◦ IRI Editorial Board
◦ Intellectual Capital Subcommittee ◦ National Retirement Planning
Week Working Group
 Federal Regulatory Affairs
◦ RFI Working Group  Research
◦ DOL Fiduciary Standard Working
Group  Retirement Income
◦ DOL Fiduciary Definition Working ◦ Educational Content Working
Group Group
◦ VA Summary Prospectus Working ◦ Income Planning Subcommittee
Group
 State Affairs
 Marketing ◦ Unclaimed Funds Working Group
◦ Financial Literacy Subcommittee ◦ Suitability Reporting
◦ Marketing Implementation Requirements Working Group
Subcommittee
 Member Services www.irionline.org/committees
 Operations & Technology
◦ Data Conformity Working Group
◦ Suitability Working Group
IRI Committees

26. What comes with your membership?
 Company-wide membership for  Discounted continuing education
every employee and financial
advisor  One-of-a-kind webinars and FINRA
podcasts
 Members Only
News, Research, Sales Data, and  Tailored Member Communications
Government & Regulatory Affairs ◦ IRI Insight
◦ IRI eWire
 Industry leading committees and ◦ IRI Government Affairs Update
working groups ◦ IRI Research Roundup
◦ IRI Dashboard & Committee Report
 24/7 access to IRI’s one-of-a-kind
Members Only Website  Discounts to IRI Conferences
 Free Practice Management Tools  Members Only Advocacy Center and
Industry Job Bank
 Free download of the IRI Fact
Book, Retirement Income  And Much More…
Guide, and all FINRA Reviewed
Materials
A quick recap...

27. Company Type Dues Determination
Insurers Total Annuity Assets
Asset Managers Total Annuity Assets
Distributors Total Number of Financial Advisors
Solution Providers Choice to Serve on IRI Committees
 91% tax deductible
 2012 dues rates are not rising in the
foreseeable future
How do you determine dues?

28. Brad Mascho John Little
 Vice President of Membership and  Senior Vice President of Federal
Emerging Media Affairs
 (202) 469-3008
 (202) 469-3003
 bmascho@irionline.org
 jlittle@irionline.org
Cathy Weatherford
 President & CEO Karen Alvarado
 (202) 469-3000  Vice President of Regulatory Affairs &
 cweatherford@irionline.org Compliance
 (202) 469-3014
Lee Covington  kalvarado@irionline.org
 Senior Vice President & General
Counsel Kat Dorman
 (202) 469-3002  Director of Conferences
 lcovington@irionline.org  (202) 469-3016
 kdorman@irionline.org
Danielle Holland
 Vice
President, Communications, Marketin
g & Research
 (202) 469-3007
 dholland@irionline.org
IRI Contacts

29. www.myirionline.org
www.irionline.org/about
Insured Retirement Institute