Wells Fargo Rolls Out Variable Annuity Products in Asset Advisor Program
According to a release, this will allow advisors to deliver the benefits and guarantees that annuity products have to offer as part of the overall portfolio management of the account.
The AVA offers a flexible and competitively priced guaranteed income option (available at an additional charge) for clients planning retirement. The product will provide greater fee and pricing transparency and will be reflected in the account performance reports.
"We are pleased to be at the forefront in offering an advisory share variable annuity," said
The company noted that this new Advisory Variable Annuity offering provides the following benefits:
-A range of income and death benefit guarantees. (Based on the claims-paying ability of the issuing insurance company.)
-No Contingent Deferred Sales Charge (CDSC) on the annuity contract. Instead, an advisory fee is negotiated with the client for the Asset Advisor account.
-Tax-deferred investing
-Product offerings from four insurance carriers
-Integration of annuities into performance reporting
"At a time when clients are seeking out new retirement income solutions, we are excited to offer an AVA that will provide flexibility, along with guaranteed income protection options within their advisory account," said
The Wells Fargo Advisory Variable Annuity will be available from the following Insurance Carriers:
1.
2.
3. Nationwide
4. Pacific Life
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More information:
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Wells Fargo Offers New Variable Annuity Product
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