National Financial grows annuity platform

National Financial Services has added seven insurance carriers to the company’s annuity program for B-Ds
NOV 15, 2007
National Financial Services LLC of Boston, a Fidelity Investments company, announced today that seven additional insurance carrier have joined the company’s annuity program for broker-dealers. The company’s web-based annuity program allows broker-dealers to automate the processing and settlement of annuity products from more than 20 carriers. National Financial also reported that as of Oct. 31, the program has processed and aggregated more than $20 billion in annuity assets. The new companies include: Hartford Life Inc. of Hartford, Conn.; Lincoln Financial Group, of Philadelphia: Massachusetts Mutual Life Insurance Company of Springfield, Mass.; New York Life Insurance Company of New York; Sun Life Financial Inc. of Wellesley Hills, Mass.; and Western and Southern Life Assurance Company and Integrity Life Insurance Company/National Integrity Life Insurance Company, both of Cincinnati. National Financial offers brokerage solutions to nearly 340 clients, representing more than 86,000 brokers. As of Sept. 30, National Financial custodied nearly $713 billion in assets.

Latest News

RIA dealmaking accelerates as three firms hit AUM milestones
RIA dealmaking accelerates as three firms hit AUM milestones

Wealth Consulting Group, Coastline and Maridea report fresh capital, acquisitions and asset growth as advisor M&A keeps climbing

VastAdvisor closes $1 million SAFE round from advisor-side backers
VastAdvisor closes $1 million SAFE round from advisor-side backers

Carson Group's Dani Fava, Jason Pereira of Woodgate Financial, and Sally George of Convergency Partners led the raise as the growth-tech startup builds out its AI platform and leadership bench.

Wells Fargo adds three advisor practices as recruiting rebound continues
Wells Fargo adds three advisor practices as recruiting rebound continues

New teams from William Blair, Ameriprise and UBS bring more than $560 million in combined client assets to the firm's employee and independent channels.

UBS will pay advisors 'handsomely' for banking starting next year
UBS will pay advisors 'handsomely' for banking starting next year

Regulators this year approved UBS Bank USA’s conversion to a nationally chartered bank.

SEC accuses Tricolor executives of hiding $800 million collateral hole
SEC accuses Tricolor executives of hiding $800 million collateral hole

How a subprime lender’s car-loan bonds allegedly unraveled before bankruptcy.

SPONSORED Direct indexing webinar targets tax-loss harvesting amid market swings

Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains

SPONSORED Who builds the income when the pension disappears?

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