LPL Financial has agreed to offer a new indexed annuity from Prosperity Life Group to its 4.5 million clients.
The WealthSecure Plus annuity is a single-premium, non-variable indexed menu.
Clients can tie the crediting rate to the performance of one or more investment indexes.
The index menu includes the S&P 500 index; a Fidelity Investments index that invests in industries that have traditionally done well during periods of high inflation; and a second Fidelity index that invests in large and midsize companies that appear to be especially stable.
What it means: The index designers are trying to reflect what clients are thinking, not just match the performance of all stocks.
The players: WealthVest is a Bozeman, Montana-based company that's been developing and wholesaling annuities for years.
Prosperity Life is a Roanoke, Virginia-based company that was acquired by Paul Singer's investment firm, Elliott Investment Management, in 2019.
