Pershing Expands Annuity Menu: Annuity Distribution

By Allison Bell

News July 06, 2021 at 10:48 AM

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Pershing LLC is trying to do more to help financial professionals offer annuities to their clients.

The Bank of New York Mellon Corp. unit recently announced that it's offering more fee-based annuities, and more annuity-related support services, for registered investment advisors.

Pershing has increased the number of fee-based annuity issuers on its core menu to 20, from seven, and it's providing some kind of access to 55 carriers. An advisor can view annuity information along with information for other portfolio holdings.

Pershing is also having insurance marketing organizations (IMOs) and brokerage general agencies (BGAs) check to see whether proposed annuity transactions appear to be suitable for the consumers involved.

In other annuity distribution news:

Simon Annuities and Insurance Services LLC is adding annuities from Nationwide to its new annuity exchange program.

RetireOne — a company that runs its own, independent life insurance and annuity exchange — has introduced the Advisory Annuity Impact Calculator,

Consumers can use the calculator to track risk-adjusted returns for client-specific portfolios.

RetireOne says one company, inStream Solutions LLC, has used the calculator to show that a fee-based, non-variable indexed annuity, the IndexMax ADV policy, may help increase portfolio performance and reduce portfolio risk.

Luma Financial Technologies — a company that's developing an independent, multi-issuer annuities sale platform, has picked Cannex Financial Exchanges Ltd. to provide pricing and analytics data for the annuities Missouri's system.

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