Best Annuities from a Reorganized New York Life?
According to “New York Life revamps sales team” by Jessica Toonkel Marquez of Investment News, New York Life Insurance Co. has added specialists and reorganized its management team to help wholesalers. They want to make it simpler for the wholesalers to sell the best annuities, mutual funds and other guaranteed-income products to financial advisers. Each of the product categories has new specialists supporting the sales teams. New York Life has also made the switch to have their relationship management teams organized by client instead of product.
Having only one person as a company contact throughout the “entire product solution suite” will make the process easier for wholesalers and their advisers. It avoids sales representatives in the same company competing for clients as well. Annuity research company Annuity Insight says that New York Life is a top player in the annuity marketplace and they see them excelling into the future. The addition of a new position as the head of business development for retirement income security products was given to Tom Johnson, formerly an executive at Mass Mutual.
