Portfolio

RetireOne & Protective Collaborate An New Low-Cost Advisory Variable Annuity For RIAs

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.[1]

“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.”

 

 

 

About RetireOne
Serving over 900 RIAs and fee-based advisors since 2011, RetireOne® is the leading, independent platform for fee-based insurance solutions. With offerings from multiple “A” rated companies, RIAs may access this fiduciary marketplace at no additional cost to them or their clients. Currently servicing over $1 billion of retirement savings and income investments, RetireOne continues to grow in its mission to provide advisors and their clients valuable retirement solutions that are simple to use, easy to understand, and delivered with outstanding service. Learn more at RetireOne.com and follow us on Twitter @RetireOne.
About Protective Life Corporation
Protective Life Corporation (Protective) provides financial services through the production, distribution and administration of insurance and investment products throughout the U.S. Protective traces its roots to its flagship company, Protective Life Insurance Company – founded in 1907. Throughout its more than 110-year history, Protective’s growth and success can be largely attributed to its ongoing commitment to serving people and doing the right thing – for its employees, distributors, and most importantly, its customers. Protective’s home office is located in Birmingham, Alabama, and its 3,000+ employees are located in offices across the United States. As of June 30, 2020, Protective had assets of approximately $123 billion. Protective Life Corporation is a wholly owned subsidiary of Dai-ichi Life Holdings, Inc. (TSE:8750). For more information about Protective, please visit www.Protective.com.
[1]Source: Morningstar 2020.