Flat-fee variable annuity Elite Access Advisory IISM, income-focused Perspective Advisory II® va, and zero-surrender-charge fixed indexed annuity Marketprotector AdvisorySM from Jackson National were added to the RetireOne platform and Emile Hallez covered the deal for “Ignites.”
Noting the growing demand for fee-based insurance and annuity solutions among RIAs, Hallez writes that awareness of these zero-commission solutions may have increased because of the now-defunct DOL fiduciary rule, though adoption of these annuities among RIAs may be lower than expected.
Regardless, the trend is toward growing these fee-based offerings. Hallez says, “Because of the rise in fee-based practices, the area presents an opportunity for annuity providers.”
As consumers grow in their awareness of fiduciary practices, demand for financial planning in the fee-based model only promises to grow. Advisors will certainly want to meet this demand.
Jackson’s entry into the independent RIA market with three valuable, low-cost solutions is good for advisors and their clients, and promises to help shine a light on this small, but quickly growing niche.
Jackson is big. Citing data from LIMRA Secure Retirement Institute, Hallez reports that they’ve been “the top seller of VAs in the U.S. for several years. The company pulled in nearly $3.5 billion in new VA sales during the first quarter of 2019.”