Greenwood Village, CO – July 25, 2017 – Great-West Financial and Aria Retirement Solutions today announced that “Great-West Smart Track® Advisor Variable Annuity” is now available on Aria’s RetireOne™ platform through the firm’s extensive reach to fee-based advisors. This unique variable annuity seeks to provide investment advisors with a flexible and customizable solution for clients seeking investment growth and retirement income.
Recently, Barron’s ranked Smart Track Advisor as the top traditional variable annuity for tax-deferred investing.1
“In conjunction with Aria we’re excited to be providing Smart Track Advisor – our customizable offering that can be employed as part of a comprehensive financial plan,” said Mike McCarthy, senior vice president of national sales for Great-West Financial. “Great-West Financial has been providing fee-based products since 1995 and is today offering those 20 years of experience to better serve the retirement income market.”
He explained that the firm’s goal is to provide Registered Investment Advisors and financial consultants who work on a fee-only basis with a solution that is both cost effective and matches the robust features of the existing Great-West Smart Track® II – 5 Year suite.
“Our goal is to consistently bring value to our clients’ retirement planning with tax-deferred, sustainable lifetime income solutions,” said David Stone chief executive officer for Aria. “We look forward to working with Great-West Financial to offer Smart Track Advisor to help meet that need.”
Through its RetireOne platform, Aria provides services and financial solutions to advisors who help clients prepare for retirement.
“Aria’s approach to providing retirement income solutions as part of their clients’ retirement planning process is outstanding and we’re looking forward to the road ahead,” said McCarthy. “This new relationship extends the capabilities of two great organizations that are focused on helping clients achieve their financial goals.”
“We believe that annuities can play an important role in an individual’s financial plan by providing an income stream in retirement that is in line with one’s financial goals,” said McCarthy. “These solutions can be an essential ingredient to a successful retirement.”
Smart Track Advisor is a low-cost dual-strategy variable annuity and is designed to provide clients with the following benefits:
- An investment strategy with more than 90 subaccounts;
- Ability to add the living benefit rider after issue to keep costs down until guaranteed income is needed
- Withdrawal rates as high as 6% at age 65 for life2;
- Single and joint riders for the same cost3;
- Ability to choose single or joint when income starts;
- Multiple ways to increase income after withdrawals start – including age band income resets4;
In addition, Smart Track Advisor was created with benefits that are unique to fee-based solutions and uncommon in the current variable annuity market:
- Advisors can choose to bill for the advisory fee separately or have the fee (up to 1.50%) deducted from the annuity contract without disrupting any guarantees;
- The guaranteed living and death benefits offered are aligned with those on Great-West Financial’s B-share product; see prospectus for details.
- Advisors can choose the share class and fee structure that meets the unique needs of each client.
About Aria Retirement Solutions: Aria Retirement Solution’s RetireOne™ is a leading financial technology platform for guaranteed retirement income. The company’s goal is to bring simplicity, transparency, and control to the financial advisors of those preparing for and in retirement. RetireOne™ is a destination of choice for transparent, un-conflicted, flexible income and retirement savings solutions. The RetireOne™ proprietary technology platform and retirement specialists provide financial advisors the tools, solutions, and services to navigate the risks that could impact their client’s retirement. Currently, Aria administers almost $1 billion of retirement savings and income investments.
About Great-West Financial: Established over 100 years ago, Great-West Financial’s offerings range from investments, life insurance, annuities and executive benefits products marketed under the Great-West Financial brand to retirement savings products and services provided by Empower Retirement, the nation’s second-largest retirement plan record keeper by participants.5
Aria Retirement Solutions is not affiliated with Great-West Life & Annuity Insurance Company or its subsidiaries and affiliates.
1Barron’s “The 50 Best Annuities: Guaranteed Income for Life,” June 24, 2017; http://www.barrons.com/articles/the-50-best-annuities-guaranteed-income-for-life-1498278778
2Withdrawal rate of 6% at age 65 assumes the owner elects the Great-West Secure Income Max GLWB rider and receives the Distribution Credit. The Distribution Credit for the Great-West Secure Income Max GLWB Rider is 1% for contributions aged at least five years. The applicable withdrawal percentages are disclosed in the Rate Sheet Supplement in effect at the time the contract is purchased.
3If joint withdrawals are elected, the joint distribution percentage will be based on the younger person’s age. The applicable withdrawal percentages are disclosed in the Rate Sheet Supplement in effect at the time the contract is purchased.
4Applies to Great-West Secure Income Foundation, Great-West Secure Income Plus and Great-West Secure Income Max GLWB riders. Additional GLWB riders may be available. Please see the prospectus for full details.
5Pensions & Investments; ranking as of April, 2017.
Before purchasing a variable annuity, investors should carefully read the prospectus which contains the annuity’s investment objectives, risks, charges, expenses, and other information associated with the annuity and its investment options. You may obtain a prospectus for the annuity and its underlying funds by calling 877-723-8723. Great-West Life & Annuity Insurance Company and Great-West Life & Annuity Insurance Company of New York do not offer or provide investment, fiduciary, financial, legal, or tax advice, or act in a fiduciary capacity, for any client unless explicitly described in writing. Please consult with your investment advisor, attorney and/or tax advisor as needed.
Unless otherwise noted: NOT FDIC, NCUA/NCUSIF INSURED | NOT A DEPOSIT | NOT GUARANTEED BY ANY BANK OR CREDIT UNION | NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY | FUNDS MAY LOSE VALUE | NOT A CONDITION OF ANY BANKING OR CREDIT UNION ACTIVITY
The principal underwriter is GWFS Equities, Inc., Member FINRA/SIPC and wholly owned subsidiary of Great-West Life & Annuity Insurance Company. GWFS Equities, Inc., or one or more of its affiliates, may receive a fee from the investment option provider for providing certain recordkeeping, distribution and administrative services. Interstate Compact contract form numbers ICC15-J888 Series, ICC16-J100 Series (Individual Flexible Premium Variable Annuities), ICC16-GLWB-SIF, ICC16-GLWB-SIP, ICC16-GLWB-SIM, ICC16-GLWB-T-Note, ICC16-AM-SIF, ICC16-AM-SIP, ICC16-AM-SIM (Guaranteed Lifetime Withdrawal Benefit Riders) are issued by GWL&A. GWL&A is not licensed to do business in New York. In New York, contract form numbers J888-NY, J100ny (Individual Flexible Premium Variable Annuities), GLWBny, GLWB-SIFny, GLWB-SIPny, GLWB-SIM2ny, GLWB-T-Note-ny, SIF-AMny, SIP-AMny, SIM-AMny (Guaranteed Lifetime Withdrawal Benefit Riders) are issued by GWL&A of NY. Contracts may not be available in all states. Any guarantees are based on the claims-paying ability of the issuing insurance company.
Variable annuities are long-term investments and may not be suitable for all investors. Earnings are taxable as ordinary income when distributed and may be subject to a 10% additional tax if withdrawn before age 59½. An investment in a variable annuity is subject to fluctuating values of the underlying investment options, and it entails risk, including the possible loss of principal. Loans and partial withdrawals will decrease the death benefit and cash value. A withdrawal charge may also apply.
There are fees and charges associated with variable annuities which include, but are not limited to mortality and expense risk charges, sales, surrender charges, administrative fees, charges for optional benefits as well as charges for the underlying investment options. The guaranteed income benefit is provided through an optional rider for an additional fee, goes into effect upon the purchase of units of a covered fund and is paid for through the sale of units of the covered fund(s), which reduces the annuity account value.
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Great-West Financial® refers to products and services provided by Great-West Life & Annuity Insurance Company (GWL&A), Corporate Headquarters: Greenwood Village, CO, and its subsidiaries and affiliates. Data on insurance and recordkeeping reflects consolidated information from GWL&A and its subsidiaries. The trademarks, logos, and registered marks used are owned by GWL&A. “A Member of the Power Financial Corporation Group of Companies” is the registered mark of Power Corporation of Canada.