SAN FRANCISCO – (COMMERCIAL THREAD) –RetirementOne® and National Midland Life Insurance Company (Midland National) is proud to announce the launch of a new commission-free Contingent Deferred Annuity (CDA) called Constance. This self-sustaining subsistence benefit decouples the insurance component of the annuity from its underlying investments. In doing so, Constance allows Registered Investment Advisors (RIAs) to wrap client brokerage accounts, individual retirement accounts (IRAs) or Roth IRAs with this lifetime income protection.
“Historically, advisors have avoided annuities because they were difficult to fit into clients’ portfolios,” said David Pierre, Founder and CEO, RetireOne. “Thanks to this innovative retirement solution, they can now integrate a guaranteed income1 by using funds and ETFs at institutional prices with the depositary of their choice.
Selected ETFs and mutual funds from BlackRock, Dimensional Fund Advisors, Franklin Templeton, Vanguard and other leading managers are available within Constance as investments for potential growth in addition to safe income , and many more should be reviewed and approved.2.
Constance was created to address the current retirement crisis in which longevity is increasing, health care costs are rising rapidly, and many Americans do not have a pension to count on for a guaranteed income. The risk of outliving his retirement savings is borne solely by the retiree. Constance is designed to act as a “personal pension” to transfer this risk to an insurance company. It also allows advisors to help their clients navigate a sequence of return risk, return volatility risk, and longevity risk while providing guaranteed income for life.
“Constance is a crowning achievement in the quest to protect the value of retirement income,” said Calculation. “This is a game-changer for increasing advisor adoption of safe retirement income solutions. Through our partnership with Midland National, Constance improves advisor and client experience, reduces internal costs and makes income guarantees ‘portable’ from custodian to custodian. ”
RetireOne’s technology provides the infrastructure behind Constance’s development by consolidating data from insurance companies and custodians for ongoing service and administration. With Constance, advisers can help clients maintain control over their assets and tax treatment by keeping covered assets with the custodian in qualified or unqualified accounts. Unlike funding a traditional annuity by selling existing positions, advisors can simply hedge the client’s existing mutual fund or ETF investments with Constance without being impacted by a capital gains tax event. .
“By insuring a portion of a client’s portfolio with Constance, advisers can potentially increase their clients’ risk budgets, gain greater exposure to equities, and potentially increase their purchasing power in retirement,” said Rob tekolste, President, Sammons Independent Annuity Group, a division of Midland National. “Constance is a simple, affordable solution advisors can use to provide a lifetime income and empower clients to spend more money with confidence. ”
TeKolste added that this is especially important as Americans have to fund more years into retirement and consistently say their biggest fear is outliving their retirement savings.
Constance is offered exclusively on the RetireOne platform. This is the latest example of RetireOne’s efforts to provide easy-to-understand and affordable retirement solutions that fee-based trustees can easily implement into their practices to increase their offerings and improve client outcomes.
“As investors prepare to retire, our job as advisors is to ensure that the best planning and the best possible results are within their grasp,” said Kimberly Foss, CFP®, President and Founder of Empyrion wealth management. “Through RetireOne and Midland National, Constance will help us manage risk for our clients while providing peace of mind in terms of retirement income and the overall portfolio. ”
Advisors who want to learn more about how they can start leveraging Constance for their clients can schedule a meeting, or call their relationship manager RetireOne at (877) 575-2742. For more information, please visit retirementone.com.
Serving over 1,000 RIAs and paid advisors since 2011, Aria Retirement Solutions’ RetireOne® is the leading independent platform for paid insurance solutions. With the offerings of several “A” rated companies, RIAs can access this fiduciary market at no additional cost to themselves or their clients. Currently serving over $ 1.4 billion in retirement savings and income investments, RetireOne continues to grow in its mission to provide advisors and their clients with valuable retirement solutions that are simple to use, easy to use. understand and delivered with exceptional service. Learn more about RetireOne.com and follow us on Twitter @RetireOne.
About Midland National Life Insurance Company
For over 115 years, Midland National® Life Insurance Company (Midland National) has been an industry leader, attributing the strength of the company to its commitment to stability, innovation and dedicated customer service. Midland National is accredited by the Better Business Bureau and has received an A + (superior) rating from AM Best, a large independent rating and appraisal company that rates an insurance company on the basis of its financial strength, operating performance, and the ability to meet ongoing obligations to policy owners. This rating is the second highest out of 15 categories and was confirmed by AM Best for Midland National as part of Sammons® Financial Group, Inc. on July 30, 2021.
Founded as Dakota Mutual Life Insurance Company in 1906, Midland National has been protecting families and preserving heirlooms for generations. Midland National is one of the leading insurance companies in the United States. Midland National is a member of Sammons Financial Group, a subsidiary of Sammons Enterprises, Inc. With its annuities division in West Des Moines, Iowa, and life insurance operations in Sioux Falls, South Dakota, Midland National operates in 49 states and the District of Columbia through its 12,000 licensed sales professionals. For more information, click here.
1Annuity payments are backed by the claims settlement capability of Midland National® Life Insurance Company.
2Only certain investments are available under the Certificate. You are required to invest assets in accordance with a Model Portfolio or a Restricted Asset Allocation Portfolio. Your investments could generate a higher return if you were not subject to the investment requirements. We may change the requirements for eligible assets under the coverage. We can remove a financial institution from our list of approved financial institutions at any time. Please read the prospectus carefully.
Constance℠ The collective conditional deferred annuity is issued by Midland National® Life Insurance Company, West Des Moines, Iowa 50266, offered by EF Legacy Securities, LLC (dba RetireOne), member of FINRA and underwritten by Sammons Financial Network®, LLC., FINRA member. Sammons Financial Network®, LLC., And Midland National® Life Insurance Company are wholly owned subsidiaries of Sammons® Financial Group, Inc. and are not affiliated with EF Legacy Securities, LLC. and RetireOne.
The Constance℠ group conditional deferred pension may play an important role in your retirement plan, but may not be suitable for everyone. Before investing, you and your financial advisor should discuss aspects that affect the suitability of your situation, including cost, timing of investment, and other retirement assets you may have. The Certificate is intended for long term investment purposes. Excess withdrawals can significantly decrease and even terminate the benefits offered by the Certificate.