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Jackson National Jumps On Fee-Based Annuity Wagon


Jackson National Life Insurance Company has just announced the launch of their new fee-based variable annuity, Perspective Advisory II (PAII), according to a recent press release. With the goal of helping people find financial freedom in retirement, the product boasts no surrender charge and, together with the expanded suite of offerings, establishes Jackson’s new relationship with Vanguard, one of the world’s largest investment management companies.

“At Jackson, we’re committed to providing the best product options for our advisors and their clients — and we’ve honored this promise since our company was founded,” said executive vice president and chief distribution officer for Jackson, Greg Cicotte. “As our industry continues to evolve, we’re proud of our ability to consistently introduce new products and develop relationships with strong investment partners. Our go-to-market process provides our distribution partners with the flexibility to choose quality strategies that can help their clients pursue financial freedom and live the lives they want.”

Perspective Advisory II’s key features include:

  • Advisor compensation is fee-based, rather than commission-based.
  • PAII offers institutionally priced sub-accounts with no 12b-1 fees, withdrawal charges or commissions. It is designed to provide increased transparency and a lower-cost sub-account structure.
  • There are no withdrawal charges and no surrender period.
  • Clients can choose from more than 130 investment options with access to world-class money managers, allowing them to design a portfolio to meet their unique needs.
  • Several optional living and death benefits are available for an additional charge, providing the opportunity to grow retirement assets and obtain a lifetime income stream.

“Following the release of the U.S. Department of Labor fiduciary rules, we fully recognize the need and demand for fee-based products,” said senior vice president of Product and Investment Management for Jackson, Brian Sward. “Since entering the fee-based space about a year ago, we’ve formed relationships with new advisors who haven’t traditionally sold our products or done business with Jackson. We look forward to strengthening these relationships and building new ones with advisors who are committed to supporting the best interests of their clients — many of whom recognize annuities can serve as a foundational part of a viable financial plan.”

Last September, 10 new Vanguard funds were added to the investment options across Jackson’s suite of product offerings. In Sward’s opinion, these low-cost, competitive investment options are a good fit with Jackson’s annuity lineup.

“Add a respected and highly-recognized leader in the advisory space, Vanguard is equally focused on serving the best interests of advisors and their clients — their strong and unwavering reputation directly reflects that vision,” said Sward.

Written by Rachel Summit

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