Products October 8, 2020

Investment Product and Service Launches

Allianz Life launches solutions platform for RIAs; Wilmington Trust adds sign-on program; Columbia Threadneedle announces 2021 successor; and more.

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Art by Jackson Epstein

Art by Jackson Epstein

Allianz Life Launches Solutions Platform for RIAs

Allianz Life Insurance Company of North America (Allianz Life) has expanded its advisory channel services with the formal launch of Allianz Advisory Solutions, an expanded suite of products and services built specifically for registered investment advisers (RIAs) to help enhance their risk management capabilities. 

A reflection of Allianz Life’s ongoing commitment to the advisory community and leadership in risk management, Allianz Advisory Solutions is built on three core pillars: risk management solutions, advanced strategies and planning and technology and platforms. 

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Heather Kelly, senior vice president of Advisory and Strategic Accounts at Allianz Life will be leading the deployment of Allianz Advisory Solutions. 

“We built Allianz Advisory Solutions to help advisors address some of the most important practice management challenges they are facing today, including the mitigation of risk associated with retirement planning,” says Kelly. “This trifecta of products, services and technology, all supported by our strategic partnerships, is truly a platform for advisors that will not only help them demonstrate the value of risk management to their clients, but also, enhance the value they deliver to clients and build a more sustainable practice for the long-term. With Allianz Advisory Solutions, we are truly meeting advisers where they live.”

Wilmington Trust Adds Sign-On Program

Wilmington Trust has integrated DocuSign to enable the automated transfer of authoritative copy documents into the Wilmington Trust eVault platform.

“We’re excited to work with DocuSign on this new interface and to provide our clients with the ability to transfer authoritative copies directly from DocuSign to our eVault,” says Joseph Deller, product development manager, Wilmington Trust. “This highlights Wilmington Trust’s dedication to providing the highest level of service and solutions for our clients, who can now access both our eVault platform and full-service document custody.”

DocuSign publishes an application programming interface (API) that Wilmington Trust used to build this integration, which is fully transparent to end users. The integration allows for the seamless transfer of authoritative copy documents from DocuSign to the Wilmington Trust DocMagic eVault.

Columbia Threadneedle Announces 2021 Successor

Columbia Threadneedle Investments has announced that, as part of a planned retirement and related transition, Gene Tannuzzo will succeed Colin Lundgren as global head of fixed income, effective March 1, 2021.

Lundgren will remain with the firm through 2021 to help further ensure a smooth transition before retiring after a 34-year career with Columbia Threadneedle. 

Lundgren joined a predecessor firm to Columbia Threadneedle in 1986 and served as head of U.S. Fixed Income and deputy global head of Fixed Income before assuming his current role in 2017. Tannuzzo joined the organization in 2003 and has served as deputy global head of Fixed Income since 2018. The appropriate transition of Lundgren’s portfolio management responsibilities will be determined prior to his retirement, but there is no change to the investment process that underpins these strategies. On assuming his new role, Tannuzzo will report to Colin Moore, global chief investment officer. 

“We are pleased to be in a position to elevate Gene to this important role and believe his leadership and investment skills will serve our clients and our fixed income business well,” says Moore. “In addition to Gene’s investment acumen, he is an excellent leader and a valued colleague.”

TIAA Grows Variable Annuity Lineup

TIAA has expanded the investment options available in the TIAA Access variable annuity lineup. TIAA participants investing through their employer retirement plans will now have access to over 30 new funds across a range of asset classes and outcome goals. 

“Amid the COVID-19 pandemic, our participants are placing an even greater focus on saving for retirement and securing their financial futures,” says Liza Tyler, head of Variable Annuity Products and Distribution at TIAA. “By building out our investment lineup, we are providing a broader menu of solutions designed to meet their needs and increase access to lifetime income. This expansion also provides us an opportunity to better serve our institutions and remain competitive on their fund menus.” 

A list of funds available with TIAA Access can be found here.

Products October 8, 2020

UK Firm to Launch PEP Recordkeeping Solution in the U.S.

Smart says it supports advisers of all sizes and that its platform also facilitates the use of lifetime income in retirement plans.

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Smart, a retirement technology business and global recordkeeper, has announced it will make available its recordkeeping solution for pooled employer plans (PEPs) in the U.S. next year.

Under the Setting Every Community Up for Retirement Enhancement (SECURE) Act, pooled plan providers  may start offering PEPs beginning January 1.

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According to Smart, its 100% cloud-based technology will provide an easy-to-use, turnkey and affordable solution for retirement plan advisers of all experience levels and employers. The UK-based firm says its technology “is the only U.S. offering purpose-built for PEPs and the facilitation of lifetime income in retirement plans that the SECURE Act allows.”

Features of the recordkeeping platform include intuitive setup and a guided proposal process; plans designed for startups and small businesses; real-time data insights at home-office, plan and participant levels; and white labeling, Smart says. Employers will also benefit from an easy-to-use dashboard that automates tasks to reduce the administrative burden and communicate with participants. Participants will gain a digital experience across a range of devices, access to real-time account information and tools to manage their investments.”

The company applies its technology to other recordkeeping engagements and uses a conflict-free approach to partner with financial services entities such as asset managers, banks, advisers, administrators and insurers.

Smart’s U.S. division will be led by Jodan Ledford as CEO. Ledford was most recently chief client officer at Legal & General Investment Management Americas. More information about Smart is at https://www.smart.co/usa.

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