Effective July 1, the Institute of Business Appraisers (IBA) will transfer all but a few assets to the National Association of Certified Valuators and Analysts (NACVA). In an announcement on Monday—which came right on the heels of the closing of its 2012 Consultants’ Conference in Dallas last week—NACVA said the merger will “ensure the longevity and success for both” organizations and achieve “greater economies of scale” than its partnership with the IBA four years ago.

Under the proposed plan—unanimously approved by both the IBA and NACVA governing boards—the two organizations will fully merge, with the IBA retaining its CBA and MBCA credentials in a separate entity (the “new” IBA), but transferring the remainder of its assets, including its ABAR and BVAL credentials, to either NACVA or a new division of NACVA, to be known as the Appraisal Database and Mentoring Services (ADAM). The IBA’s ABAR credential will remain intact, but its BVAL credential will be merged into NACVA’s CFFA credential within three years, and the recertification cycle for both credentials will change from two to three years, following the NACVA model. The new IBA, comprising only CBAs and MCBAs, will continue to administer the applicable unified professional standards and rules of professional conduct.

As a result of the merger, “the IBA, with its rich history of contributions to the valuation profession, will retain its legacy for all that it has achieved,” NACVA said in its announcement to members. For more information, contact Howard Lewis at hlewis@iba.org or Sheila Travis at shelaat1@nacva.org.