Wells Fargo Rolls Out Variable Annuity Products in Asset Advisor Program

Wells Fargo Advisors announced the launch of the advisory variable annuity into the company's Asset Advisor Program, an investment advisory fee-based 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 Ian MacEachern, Managing Director of the Advisory Products Group at Wells Fargo Advisors. He added, "The launch of the advisory variable annuity will provide our clients with a new alternative for investing as Americans look to replace income in retirement years."

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 Bernie Gacona, director of Annuities at Wells Fargo. "Furthermore, the integration of annuities into performance reporting will provide clients a more accurate picture of their overall investment portfolio."

The Wells Fargo Advisory Variable Annuity will be available from the following Insurance Carriers:

1. Allianz Life*

2. Lincoln Financial Group

3. Nationwide

4. Pacific Life

*Allianz Life to launch in 3Q2012

More information:

www.wellsfargoadvisors.com

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