San Francisco, CA – February 15th, 2022 –RetireOne, an independent platform for fee-based insurance solutions, today announced they have collaborated withDimensional Fund Advisors and Midland National Life Insurance Companyto offer 3 asset allocation models and 38 institutional-class mutual funds and Exchange-Traded Funds covered by Constance– a zero-commission contingent deferred annuity designed expressly for RIAs.
Launched in October of 2021, Constance allows RIAs to wrap client brokerage accounts, IRAs, or Roth IRAs with a first-of-its-kind lifetime income protection, enabling advisors to continue to oversee client assets as they enter retirement and begin the decumulation phase. In working with DFA and gaining access to its asset allocation models and funds, advisors can benefit from value added fund and investment options that can be protected by an annuity, providing greater flexibility and choice for advisors and clients alike.
“A good retirement is a comfortable standard of living, which is measured by the amount of sustainable lifetime income received, and not by the size of the accumulated 'pot.' Significant numbers of Americans retire today without the reassurance of an adequate pension,” saidRobert C. Merton, Nobel Laureate in Economic Sciences and Resident Scientist at Dimensional Holdings. “New and innovative lifetime-income solutions will be critical for addressing the looming retirement planning crisis. A well-designed Contingent Deferred Annuity offers new and flexible ways to create guaranteed lifetime income directly from IRAs, Roth IRAs, and brokerage accounts.”
Through its exhaustive research-driven approach, DFA identifies securities based on a set of proven shared characteristics, or “dimensions." To be considered a dimension, the characteristics must be sensible, persistent over time, pervasive across markets, and cost-effective to capture.
“Constance is a modern solution designed to confront the retirement crisis head-on. Adding Dimensional’s research and expertise in asset allocation and model management strengthens the Constance offering,”Edward J. Mercier, President of RetireOne. “We are thrilled to work with Dimensional to better protect near-retirees and retirees during the “fragile decade” by providing fiduciaries with top-tier investment solutions to better assist their clients in retirement planning.”
Through Constance, offered exclusively on the RetireOne platform, investors can for the first-time access DFA mutual funds and ETFs with a lifetime income guarantee powered by a Contingent Deferred Annuity. The CDA is the latest example of RetireOne’s commitment to providing easy-to-understand, affordable retirement solutions that fee-only fiduciaries can easily implement in their practices to increase their offerings and improve client outcomes.