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.

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, 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.