Prudential Financial signs distribution agreement with Edward Jones

Prudential Financial, Inc. (NYSE:PRU) said it has reached a distribution agreement with the financial services firm Edward Jones to offer its clients variable annuities and individual life insurance from Prudential companies.

"We welcome the opportunity to work with Edward Jones, one of the premier financial services firms in the United States, in offering our variable annuities and individual life insurance products to financial advisors to help meet their clients' changing financial needs," said Bruce Ferris, senior vice president of Sales and Distribution for Prudential Annuities.

Edward Jones' 12,000-plus financial advisors work directly with nearly seven million clients to understand their personal goals -- from college savings to retirement -- and create long-term investment solutions that emphasize a well-balanced portfolio and a buy-and-hold strategy. Edward Jones embraces the importance of building long-term, face-to-face relationships with clients, helping them to understand and make sense of the investment options available today.

The recent financial turmoil has led an increasing number of financial advisors to add variable annuities to their suite of solutions aimed at protecting client income during volatile markets, while keeping them invested in equities for growth. Edward Jones' financial advisors may offer Prudential Annuities variable annuity products with the Highest Daily suite of optional living benefits, available at an additional cost on annuities from Prudential companies.

"The innovative risk management feature of our products, combined with Prudential Annuities' quality investment platform and award-winning service, will provide Edward Jones' financial advisors with the solutions they need to deliver retirement income to their clients," Ferris said.

A priority for Prudential's Individual Life Insurance business is expanding distribution through third party distributors. Under this agreement, Edward Jones' financial advisors will have access to Prudential's competitive insurance product portfolio including term and permanent insurance products.

"Our agreement with Edward Jones further enhances our ability to reach consumers and helps them understand the important role life insurance plays in a comprehensive financial plan," said Dave Johnston, vice president of National Sales for Prudential's Individual Life Insurance.

"We recognize that we need to offer our clients solutions that can help them meet their needs through retirement," said Merry Mosbacher, principal, Edward Jones Insurance Marketing. "Prudential's variable annuities and life insurance are an excellent complement to the suite of products available to our clients."