RetireOne continues to grow fiduciary marketplace with best-of-both-worlds IOVA offering lifetime income option
SAN FRANCISCO and BIRMINGHAM, Ala., Oct. 8, 2020 /PRNewswire/ — RetireOne® and Protective® are teaming up to bring a new, low-cost advisory variable annuity to market. With an M&E fee of just 30 basis points, and subaccounts from Vanguard® and DFA, the Protective® Investors Benefit Variable Annuity is one of the lowest-cost variable annuities on the market.
“After acquiring Great-West last year, our goal was to capitalize on competitive positioning in the advisory marketplace by delivering solutions that offer tremendous value for investors and the RIA firms who serve them,” said Aaron Seurkamp, President, Retirement Division at Protective Life. “The team at RetireOne has been working with some of the largest RIA firms in the nation for nearly a decade. They understand the critical elements of product design for this marketplace. In collaboration with them, we designed our latest advisory solution: an automated, fully-billable, low-cost variable annuity with critical data integration capabilities needed to fit into an advisor’s business. In addition, we curated a robust investment lineup that includes options from RIA fund-family favorites Vanguard and DFA.”
As financial advisors aim to reduce fees to improve portfolio performance, Protective endeavored to lower mortality and expense charges, and strip out unnecessary costs like fund facilitation fees and surrender penalties. The result is an efficient accumulation solution ideal for lowering the costs of expensive client annuities and extending tax deferral to investors who’ve maxed out their 401(k) and IRA plans.
“Teaming up with Protective to bring their latest advisory solution to market furthers our goal to collaborate on the development and distribution of client-centric advisory products,” said David Stone, RetireOne Founder and CEO. “The combination of low-cost tax deferral with a simple and elegant lifetime income benefit make this a very flexible zero-commission solution for improving tax-deferred accumulation or building efficient, sustainable income streams for clients.”