Products April 11, 2008

Phoenix Introduces Low-cost Annuities for Fee-based Adviser Market

The Phoenix Companies, Inc. introduced a low-cost, no-load annuity sold through Phoenix’s distribution partners, including wirehouses, regional broker/dealers, and financial institutions.
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The Phoenix Portfolio Advisor Variable Annuity was developed through a strategic alliance with Jefferson National Life Insurance Company to develop low-cost annuities specifically for the fee-based advisers among Phoenix’s distribution partners, according to a press release. The product will have a flat insurance fee of $20 a month rather than the typical variable annuity insurance fee of 1.35% of asset value, the company said.

Phoenix Portfolio Advisor offers a broad range of investment choices, with more than 170 investment funds from 20 top independent money managers. Advisers and clients who want to diversify their holdings can choose from a number of asset allocation options available through the annuity.

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Clients wanting additional insurance protections can purchase an optional living benefits rider, such as the guaranteed minimum withdrawal benefit, which provides clients in retirement a flexible, guaranteed income for life, regardless of investment performance.

Adviser Tools

Jefferson National’s technology platform was designed to serve the fee-based market. New Web-based tools, available at www.portfolioadvisorva.com, allow an adviser to compare the fee savings of the Phoenix Portfolio Advisor over other variable annuities, generate a proposal online, and immediately apply for an account.

Additional tools allow clients to transfer assets between funds, view their transaction history, develop a customized asset allocation model, and search, review, and track data about investment options that are available.

Advisers can also call 866-226-0120 for additional information.

Products April 11, 2008

RIA Firm Rolls Out Advice Service

A Newton, Massachusetts-based advisory firm has announced the launch of a personalized investment advisory service for lower- and middle-income Americans.
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According to a press release, I-Pension clients can receive money management services for as little as $.50 a day for 401(k) accounts.

“We’ve heard a lot about Universal Health care, both in the media and throughout the presidential elections; however, what about universal wealth care? Every American – including lower- and middle-class individuals – should have the right to financial security when they reach retirement age,” says Jane Mancini, CEO, I-Pension, a registered investment adviser.

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I-Pension has no minimum account size and charges a flat rate for 401(k), 403(b), and 457 accounts: $1.00 a day for accounts of $40,000 or more, and $.50 a day for accounts under $40,000. There are no other costs, according to the firm.

“The unique thing about our program from the employer’s perspective is that they don’t have to change anything about their existing 401(k) plan,” says Mancini. “The I-Pension approach works with any plan administrator and any investment options.’

Non-Employer Account Options

For non-employer sponsored accounts, I-Pension charges a 1.0% annual fee, and, using low-cost index funds and ETFs, I-Pension also can provide a diversified asset-allocation program and a dedicated investment adviser for an all-in cost of 1.2% to 1.5%.

I-Pension clients complete a three-page questionnaire and are matched with an investment model that reflects their investment temperament, time horizon, and outlook. Every client is provided a personalized Investment Policy Statement that describes how his or her account will be managed. Accounts are monitored daily and kept on track using a rules-based rebalancing system, according to the firm.

More information about the I-Pension program is available at www.I-Pension.com.

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