Commonwealth Financial Adds New Variable Annuity to Platform

Commonwealth Financial Network now offers Jefferson National Life Insurance Company’s flat-insurance fee variable annuity on its platform, the firms announced last week.
The annuity is being made available through the Preferred Portfolio Services (PPS) of Commonwealth Financial Network, the nation’s second-largest, privately-owned, national independent broker-dealer that supports more than 1,000 independent registered representatives nationwide.PPS is a program that provides the complete infrastructure needed for an adviser to operate virtually any type of fee-based asset management practice.

Monument Advisor is the first no-load, no-commission, no-surrender charge variable annuity; it has a flat-insurance fee of $20 per month, no matter how much clients invest, Jefferson National said.