Four insurance companies will be offering the new Advisory Variable Annuity from Wells Fargo. According to a MarketWatch press release, Allianz Life, Lincoln Financial, Nationwide, and Pacific Life are all going to distribute Wells Fargo Advisors’ newest product. The Advisory Variable Annuity is part of their Asset Advisor Program, which is fee-based. Wells Fargo says that the introduction of this product will give advisors a more efficient way to offer their clients variable annuities’ guarantees and benefits. The fees and prices are more transparent and the addition of a guaranteed income rider is competitively priced.
An advisory share variable annuity is newer to the market and is a great investing alternative for obtaining retirement income. Some of the benefits include multiple choices for income and death benefits. Your investment is tax-deferred and four different insurance companies have offerings so that you can compare annuities. This annuity contract does not have a Contingent Deferred Sales Charge, but a fee that is negotiated at the beginning of the contract. There is also performance reporting of the variable annuities integrated into the Advisory system. Many investors have been looking for new and different variable annuities as the markets have changed and Wells Fargo believes that their Advisory Variable Annuity meets many consumer demands.
Written by Rachel Summit
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