8 notable trends in the VA business
8. Advisers get their share
Advisory share classes will become commonplace among insurers. Sixty-three I share variable annuities are in the market now, compared to 34 last year, noted John McCarthy, product manager of annuity solutions at Morningstar Inc. Just last December, Nationwide released Destination Income, a new I share VA contract that’s available for rollovers from the firm’s own qualified plans. Generally, these products are low cost so that the adviser can add in an advisory fee.
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