RetireOne partners with Pension & Wealth Management Advisors to help clients protect retirement income

SAN FRANCISCO – April 12th, 2023 – RetireOne today announced the launch of Pension & Wealth Management Advisors’ Portfolio Income Insurance Program. Based in Waltham, MA, PWMA is a team of financial advisors offering comprehensive solutions to clients with an approach centered around risk management. 

Powered by Constance, a contingent deferred annuity launched by RetireOne in partnership with Midland National Life Insurance Company, the PWMA Portfolio Income Insurance program offers the firm’s advisors a measure of certainty for their risk-averse clients who might otherwise avoid or reduce allocations to equities. The CDA unbundles insurance protections from underlying investments, enabling PWMA advisors the ability to cover their proprietary models with an income guarantee (subject to the claims paying ability of the insurance company). 

“We’re always scouting progressive technologies and solutions like RetireOne’s Portfolio Income Insurance Program,” said George P. Webb, CEO of Pension & Wealth Management Advisors. “If you have a risk averse client, staying in cash may provide peace of mind but it will ultimately disadvantage them over time. By setting a floor of income with the CDA, we have an innovative tool for boosting clients’ confidence and getting them out of cash. Further, we can transfer market risk in their portfolios to an insurance company without moving the asset.” 

The Portfolio Income Insurance Program is designed to provide retirees with a stable source of income, even in the event of a market downturn or economic crisis. Constance offers a flat certificate fee and the flexibility to begin taking income at any time, allocate up to 75% equities, and sever at any time. 

"No one can control the markets,” said David Stone, co-founder and CEO of RetireOne. “What we do know, however, is that they’ve consistently produced higher gains than cash or fixed-income assets over long time periods, helping countless Americans to achieve their financial goals. We partnered with Midland National to build a CDA that takes some risk off the table so investors can focus on what they can do now and stay on plan.” 

To learn more about Constance and RetireOne’s outsourced insurance desk offering, please visit RetireOne.com.