Wells Fargo Advisors has launched the advisory variable annuity (VA), as part of its investment advisory fee-based programme.
"The launch of the advisory variable annuity will provide our clients with a new alternative for investing as Americans look to replace income in retirement years," said managing director of the advisory products group at Wells Fargo Advisors, Ian MacEachern.
The advisory variable annuity offers a range of income and death benefit guarantees, tax-deferred investing, integration of annuities into performance reporting, and product offerings from four insurance providers. The annuity will be available through Allianz Life, Lincoln Financial Group, Nationwide and Pacific Life. Allianz Life will not offer the product until Q3 2012.
"(...) The integration of annuities into performance reporting will provide clients with a more accurate picture of their overall investment portfolio," said director of annuities at Wells Fargo, Bernie Gacona.