Products August 24, 2009

MetLife B/D Reaches Out to Smaller Accounts

The MetLife Broker-Dealer Group unveiled an automated advisory product to capture emerging investors, or those investors with as little as $10,000 to invest.

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The solution, MetLife Fund Management Services, is available to all MetLife’s retail registered investment advisers (RIAs), which includes MetLife Securities, New England Securities, Tower Square Securities, and Walnut Street Securities.

MetLife said the service captures mutual fund clients whose assets might otherwise be held directly at multiple mutual fund companies.

The idea is that the tool simplifies account maintenance and support to free up the investment advisory representatives (IARs) to build an advisory, rather than a transactional, relationship with clients, according to MetLife. The online tool offers consolidated statements and tax reporting.

MetLife Fund Management Services is supported by an electronic process that provides validation after an IAR completes the electronic form. The system then immediately notifies the IAR of missing information from the application and provides suitability guidance, according to MetLife.



Products August 24, 2009

Prudential Updates 'Highest Daily' Annuity Optional Benefits

Prudential Annuities said it adjusted its annuity optional benefits, which allow investors to “lock in” the highest daily value of their annuity contract each day the market is open.

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Highest Daily Lifetime 6 Plus and Spousal Highest Daily Lifetime 6 Plus offer a protected withdrawal value based on 6% annual compounded growth on the highest daily account value and daily opportunities to capture greater lifetime income with a 4 to 6% income stream, depending on and investor’s age at first lifetime withdrawal, according to Prudential Annuities, the annuity business of Prudential Financial, Inc.

The optional benefits can be purchased for an additional fee with a variable annuity from Prudential issuing companies.

The Highest Daily Lifetime 6 Plus optional benefits replace the Highest Daily Lifetime 7 Plus benefits in all states where Highest Daily Lifetime 6 Plus has been approved, the company said.

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