×

IPA Names Mark Goldberg Chairman of the Board

Investment Program Association logo

ELLICOTT CITY, Md., Nov. 25, 2013 (GLOBE NEWSWIRE) -- The Investment Program Association (IPA) has named Mark Goldberg of W.P. Carey as Chairman of the Board for 2014. The IPA has also added six new members to its Board of Directors. Goldberg will lead the Board as the IPA continues to raise awareness and educate advisors, investors and regulators about Direct Investments, which include Non-Listed REITs (NLREITs), Business Development Companies (BDCs), and Oil and Gas, and Equipment Leasing Programs. Kevin Shields, Chairman and CEO, Griffin Capital Corporation, has been named Chair-Elect for 2014, and will be the Chairman of the association in 2015.

Goldberg succeeds Frank McCarthy of Ameriprise Financial Services, Inc., as Chairman, the association's the first executive from a broker dealer to hold that position.

"The IPA's robust advocacy and education initiatives have helped move the direct investment industry forward to our many audiences," said IPA President and CEO Kevin Hogan. "We are confident that Mark Goldberg's experience, insight and expertise will guide the IPA to an even more promising future.

"We also welcome to our Board six senior industry executives who have a broad range of industry experience. As the IPA expands and meets new challenges, we will draw on their insights to advance the Association's influence with all of our audiences."

Today's low-yield environment and the uncertain long-term economic outlook have created an ideal climate for investing directly in non-correlated, alternative assets. A recent report from Robert A. Stanger & Co., Inc, estimates a 79% increase in equity capital flows to direct investments so far in 2013, reaching nearly $16 billion, bringing the total estimated assets under management in direct investments to $90 billion.

Direct Investment Programs can offer portfolio diversity, stable income, reduced volatility, and a hedge against inflation, among other things. As the industry has grown, so has membership in the IPA. This year, membership in the association has reached an all-time high, with more than 154 investment product sponsor, independent broker dealer, and associate members.

In addition to naming Goldberg as Chairman, the IPA welcomes the following executives as newly elected Board Members for 2014:

Additional Board Members continuing their terms are:

"In 2013, our industry both returned unprecedented capital to shareholders and raised record funds to invest for shareholders of our REITs, BDCs and private placements," said Goldberg. "In the coming year, we will continue expand the overall understanding of direct investments as we work with Federal and state regulators, and educate financial advisors and investors about the benefits of direct investments as part of a diversified portfolio."

About The Investment Program Association

The Investment Program Association (IPA) was formed in 1985 to provide effective national leadership for the direct investment industry. The IPA supports individual investor access to a variety of asset classes not correlated to the traded markets and historically available only to institutional investors. These investments include public non-listed REITs (NLREITs) and Business Development Companies (BDCs), Energy and Equipment Leasing Programs, and private equity offerings. For the last 28 years, the IPA has successfully championed the growth of such products, which have increased in popularity with financial professionals and investors alike. Direct investments are held in the accounts of more than 2 million individual investors. The mission of the IPA is advocating direct investments through education. Access the wealth of IPA educational materials here, or visit the IPA online for more information about becoming a member.

To stay up-to-date with IPA news, follow @IPADirectInvest on Twitter.

CONTACT: John McInerney Makovsky 212.508.9628 jmcinerney@makovsky.com

Source:Investment Program Association