AIG Life & Retirement and Reliance Standard Life Insurance Co. have introduced index annuity products aimed at solving challenges of market volatility and income needs, respectively.
The new Reliance fixed-index annuity, called the Reliance Accumulator, offers five-, seven- and 10-year durations, a fixed interest strategy and five index interest strategies based on two specific indexes from Standard and Poor’s. It also offers three index interest strategies tied to the S&P 500 index: annual point-to-point capped, annual point-to-point participation rate and annual monthly average capped.
The Reliance product also offers two index strategies tied to the S&P multi-asset risk control 5% ER index: annual point-to-point participation rate and annual point-to-point spread strategy.
Separately, AIG launched what it calls the X5 Accelerator Annuity, an index annuity that includes a bonus equal to 35% of the premium that's added to the lifetime income benefit, as well as a multiplier that can increase lifetime income by 250% of net interest earned every year during the accumulation phase.
The product, which will be marketed by Annexus through contracted independent distribution companies, also offers exclusive indices developed by Pimco and Morgan Stanley Investment Management to provide upside growth potential. The annuity also provides principal protection against market downturns.
Chicago-based Mesirow Fiduciary Solutions adds flexPATH's plan-level outsourced fiduciary book, boosting its retirement market reach to $164 billion.
Also, Raymond James's employee advisor channel adds breakaways from Wells Fargo and Stifel, while UBS welcomes an ex-Morgan Stanley duo in Indiana.
It promised guaranteed principal and 10% monthly returns. The SEC says it invested nothing.
Ten years after entering the fee-based annuity market, MassMutual Ascend says nearly half its lifetime sales came in the past two years alone – but barriers remain among fee-only advisors.
Amplify, WealthReach, Zeplyn and Zocks have unveiled partnerships aimed at automating portfolio management, content creation, account opening, and client communication.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
