January 15, 2025 Newswires

Midland Advisory Focused on Growing Registered Investment Advisor Channel Presence

Business Wire

In new role, Kevin Sullivan tapped to grow sales for Midland Advisory

WEST DES MOINES, Iowa--(BUSINESS WIRE)--
Midland National^® Life Insurance Company, a member company of Sammons Financial Group^®, is seeing strong growth in annuity sales through its Midland Advisory channel. Established in 2020, Midland Advisory has invested in a strategy to bolster product sales through the Registered Investment Advisor (RIA) channel. In that time, the team has introduced several new annuity products, some of which have ranked first in their category.

“Sammons Financial Group has seen terrific product growth and historic sales in its annuity products over the past two years and especially since entering the RIA channel through Midland Advisory,” said Bryce Biklen, Chief Distribution Officer. “Midland Advisory is dedicated to offering fee-only annuity products that meet the unique needs of advisors and their clients.”

Midland National delivers its annuity products to market through the RIA channel as well as independent agents and advisors. In 2024, the companies of Sammons Financial Group experienced unprecedented sales and captured the momentum inherent in the booming annuity marketplace as clients sought the stability that may be offered by life insurance-based annuity products.

“We intend to continue to develop deep relationships with advisors who see the benefit of diverse product offerings for their clients,” Biklen added. “Annuities are a great tool to consider in both retirement and as part of a client’s wealth planning strategy.”

Midland National offers a comprehensive suite of fee-only life insurance products designed for advisors and their clients. Our Midland National Capital Income^® fixed index annuity (FIA) has rated first in its product class the past six consecutive quarters.* This FIA offers top-in-class income solutions and has been one of the keys to Midland Advisory’s success within the RIA channel.

In 2024, Midland National launched a new registered index-linked variable annuity. This product features a robust lineup of investment options, balancing growth potential with protection, making it an attractive accumulation solution for the right client. Moreover, a multi-year guaranteed annuity and accumulation-focused FIA continue to gain traction among Midland advisors for clients seeking steady income and growth solutions.

“Our commitment to innovation in product development remains strong as we address the dynamic needs of advisors and their clients,” said Cooper Sinclair, Head of Business Development for Midland Advisory. “Contingent deferred annuities are becoming a crucial part of our portfolio offerings, providing tailored insurance options that can effectively support retirement plans. We are excited to see how these products can play an important role in retirement strategies for advisors and their clients."

Consistent with its focused growth strategy, Midland Advisory is expanding its team. Kevin Sullivan has joined Midland National as Associate Vice President and National Sales Manager for Midland Advisory. With extensive leadership experience, Kevin previously served as Senior Vice President and Head of National Accounts at a financial firm. He also played a pivotal role in developing advisory channels and leading fee-based sales at a prominent life insurance and annuities provider over several years.

“Kevin will oversee our wholesale team and enhance our sales and distribution strategy,” Biklen said. “I welcome him to this new role and joining a growing team which includes Cooper Sinclair, who has led our fee-based sales strategy since 2021.”

Midland Advisory holds a unique position in a growing RIA marketplace.

“Our strategic, focused approach can offer financial solutions that provide tailored products for agents, advisors, and their clients,” said Sinclair. “Midland Advisory’s RIA distributors seek financial products that can deliver performance and protection. It is one of the many reasons why Midland Advisory annuities may fit well into today’s financial services environment.”

About Sammons^® Financial Group, Inc.

The companies of Sammons Financial Group^® help families and businesses by empowering futures and changing lives. Sammons Financial Group is employee owned with member companies that are among the most enduring and stable in the financial services industry. Sammons Financial Group is Midwest-based, with offices in Iowa, Illinois, Minnesota, North Dakota, Ohio, and South Dakota.

The Midland National Capital Income^® is issued on AS201A/AS202A/ICC19-AS201A (contract) or appropriate state variations including all applicable endorsements and riders. This product, its features and riders may not be available in all states.

Variable products are distributed by Sammons Financial Network^®, LLC, member FINRA. Insurance products are issued by Midland National^® Life Insurance Company (West Des Moines, IA). Sammons Financial Network^®, LLC and Midland National^® Life Insurance Company are affiliated companies and wholly owned subsidiaries of Sammons^® Financial Group, Inc.

Midland Advisory, part of Midland National^® Life Insurance Company, specializes in retirement solutions to help meet the needs of registered investment advisors (RIAs) and their clients. Midland Advisory is not an issuer of insurance products.

*According to Wink’s Sales and Market Report, Q2 2023 – Q3 2024.