Products February 18, 2011

LPL Launches Fee-Based Variable Annuity Platform

LPL Financial has introduced a platform that allows for discretionary management of variable annuity assets for LPL Financial-affiliated advisers.
Reported by

Five providers are included in the fee-based variable annuity (FBVA) platform: Allianz Life, AXA Equitable, Lincoln Financial, Prudential Annuities and Sun Life Financial.

LPL Financial, the independent broker/dealer and wholly-owned subsidiary of LPL Investment Holdings Inc., said that advisers will be able to deliver active portfolio management efficiently alongside the valued protection features that these products offer.  Investors will also benefit from a more streamlined pricing structure, given the removal of bundled commissions while maintaining the consistency of the fee-based  relationship with the adviser across products within the same account.

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Through this platform, purchases of fee-based variable annuities will be integrated in the existing LPL Financial process for opening accounts for investors, and holdings will be viewable through all adviser-facing technologies, including BranchNet, the company’s proprietary, web-based technology platform that allows advisers to manage all critical aspects of their business.

The Markets February 18, 2011

Asia Flows Advance in 2010

In 2010, local Asia long-term funds gathered $55 billion in net inflows, slightly higher than in 2009, according to Strategic Insight, an Asset International company.
Reported by

The company reported that equity funds suffered outflows of $1.6 billion in December and $25.9 billion for the year. Meanwhile, bond funds took in $4.8 billion over the month and $76.6 billion during the year.

Funds in the mixed category gave up $2.4 billion in December and $12.5 billion in the 12-month period. Overall, Strategic Insight said the local Asia funds were flat in terms of flows in December, but took in $25.1 billion during the year. For Asia funds without Japan, the funds lost $4.6 billion in December and $43.9 billion over the year.

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