May 21, 2021
Expands both carrier and insurance referral program to help advisors deliver a holistic wealth management experience and drive organic growth
BNY Mellon’s Pershing (“Pershing”) has expanded its fee-based annuity offering for the registered investment advisor (RIA) segment to respond to the growing interest by RIAs in incorporating annuities into their clients’ portfolios.
“As life expectancy increases, advisors are increasingly looking for ways to offer their clients downside protection or a steady income stream in later stages of life,” said Hans Schemmel, Director of Retirement, Insurance-based & Cash Management Solutions, Pershing. “And with the advent of commission-free variable, fixed, and indexed annuities, we are seeing a renewed interest from advisors in these products. We are thrilled to roll out this expanded solution to our advisory clients to make it easier for them to tap into annuities regardless of their business model.”
Pershing’s enhanced fee-based annuity offering for advisory clients comprises two components:
“Financial advisors play a critical role in guiding their clients to the right products,” added Schemmel. “We continue to look for ways to give advisors more choice and more flexibility so they can decide what’s best for their clients.”
For more information, please visit: Pershing’s Annuity and Insurance Solutions.
1 Available through Pershing’s NetX360® platform, Subscribe enables advisors to electronically submit annuity transactions and interface with many of the country’s leading insurance companies. It also features an Annuity Analytics Dashboard as well as Pershing’s approval and oversight tools—all designed to help firms and advisors increase efficiencies and transparency and achieve improved oversight. Subscribe allows networking of contracts to brokerage accounts, helping advisors and clients get a more complete picture of their portfolios.