A news release said the new offering is being provided through McCready and Keene, Inc., the actuarial and consulting firm acquired by AUL parent OneAmerica in July (see “OneAmerica to Acquire Plan Actuary”). It will be marketed by the sales force of American United Life Insurance Company (AUL).
According to the company, the offering features fee transparency, flexibility and a number of other benefits to financial advisers and sponsors.
The program uses open architecture to provide access to more mutual funds, or plan sponsors can choose from a pre-screened line-up of 200 investment options from 30 companies under OptionOne. In addition, the program offers a customized approach based on an open investment platform and quarterly due diligence reporting, the news release said.
The program will use fee-based advisers to distribute Premier Trust initially. Registered representatives affiliated with broker/dealers will have access to the program in the first quarter of 2011.