MINNEAPOLIS, December 10, 2020 (Newswire.com) - TruChoice Financial Group, LLC (TruChoice), one of the largest distributors of insurance products in the financial services industry, and Jackson National Life Insurance Company® (Jackson) today announced a new strategic alliance to bring the carrier's popular advisory annuity products to fee-based financial professionals through TruChoice's Outsourced Insurance Division (OID).
As an industry leader, TruChoice developed and enhanced its OID services throughout 2019 and 2020. The OID distribution model utilizes a product-agnostic, multi-carrier methodology to allow financial professionals to manage client assets and protection needs while working with FINRA-registered and insurance-licensed OID Specialists.
"We're very pleased to have a preeminent carrier like Jackson on board and to be able to offer their retirement products to our audience of financial professionals," said Jim Maietta, TruChoice Chief Distribution Officer. "This collaboration creates greater flexibility for Registered Investment Advisers (RIAs) and Investment Advisor Representatives (IARs) to be able to access advisory annuities in planning discussions with clients."
Jackson's operations team will provide world-class service to financial professionals and clients working with TruChoice. This team of experts will serve as a powerful complement to TruChoice as they work to add value to independent RIAs' business models.
"We are excited to work with TruChoice as we continue to expand our distribution footprint and make it easier for financial professionals to do business with us," said Scott Romine, President of Retirement Solutions, Jackson National Life Distributors LLC (JNLD). "Like Jackson, TruChoice has a presence on FIDx, which powers the Envestnet Insurance Exchange and MoneyGuide Protection Intelligence. This strategic alliance helps eliminate the need for financial professionals to use multiple platforms in their long-term holistic planning conversations with clients and allows them to easily access our products."
Three of the carrier's fee-based products are now available to RIA firms and IARs through TruChoice's OID platform: two variable annuities - Perspective Advisory IISM and Elite Access Advisory IISM - and one fixed index annuity, MarketProtector Advisory®.
Committed to providing education, Jackson and TruChoice will team up to help financial professionals build and grow their businesses with tools, resources, and value-add programs.
To learn more about the full suite of Jackson annuities now available on the TruChoice OID platform, please visit www.TruChoiceOID.com or call (800) 633-2468.
TruChoice is one of the largest distributors of insurance products in the financial services industry. They are designed to function as a foundation for the success of the independent financial professionals that they serve, leveraging the resources that only a large company can provide, while offering the individualized service of a much smaller one. TruChoice is committed to remaining an industry thought leader and innovator and will continue to use their unmatched service model to allow financial professionals to focus on what matters most: helping clients achieve their financial goals. Headquartered in Minneapolis, Minn., TruChoice has a national footprint with locations in Ann Arbor, Mich., Atlanta, Ga., and Sacramento, Calif.
Jackson is a leading provider of retirement products for industry professionals and their clients. The company and its affiliates offer variable, fixed and fixed index annuities designed for tax-efficient growth and distribution of retirement income for retail customers, as well as products for institutional investors. Jackson is a proud founding member and co-chair of the Alliance for Lifetime Income, a nonprofit 501(c)(6) organization formed and supported by 24 of the nation's financial services organizations to create awareness and educate Americans about the importance of protected lifetime income. With $294.6 billion in IFRS assets*, the company prides itself on sound corporate risk management practices and strategic technology initiatives. Focused on thought leadership and education, Jackson provides industry insights and financial representative training on retirement planning and alternative investment strategies. The company is also dedicated to corporate philanthropy and supports nonprofits focused on strengthening families and creating economic opportunities in the communities where its employees live and work. For more information, visit www.jackson.com.
*Jackson has $294.6 billion in total IFRS assets and $265.4 billion in IFRS policy liabilities set aside to pay primarily future policyowner benefits (as of June 30, 2020).
Jackson is an indirect subsidiary of Prudential plc, an Asia-led portfolio of businesses focused on structural growth markets. The business helps individuals to de-risk their lives and deal with their biggest financial concerns through life and health insurance, and retirement and asset management solutions. Prudential plc has 20 million customers (as of June 30, 2020) and is listed on stock exchanges in London, Hong Kong, Singapore and New York. Prudential plc is not affiliated in any manner with Prudential Financial, Inc. a company whose principal place of business is in the United States of America, nor with the Prudential Assurance Company, a subsidiary of M&G plc, a company incorporated in the United Kingdom.
Before investing, investors should carefully consider the investment objectives, risks, charges and expenses of the variable annuity and its underlying investment options. The current contract prospectus and underlying fund prospectuses, which are contained in the same document, provide this and other important information. Please contact your representative or the Company to obtain the prospectuses. Please read the prospectuses carefully before investing or sending money.
Annuities are long-term, tax-deferred vehicles designed for retirement. Variable annuities involve investment risks and may lose value. Earnings are taxable as ordinary income when distributed and may be subject to a 10% additional tax if withdrawn before age 59½.
The latest income date allowed is age 95, which is the required age to annuitize or take a lump sum. Please see the prospectus for important information regarding the annuitization of a contract.
In certain states, we reserve the right to refuse any subsequent premium payments.
Variable annuities (VA790, VA790-FB1, ICC17 VA790, ICC17 VA790-FB1, VA785, ICC18 VA785, VA785-FB1, ICC18 VA785-FB1) are issued by Jackson National Life Insurance Company (Home Office: Lansing, Michigan) and in New York (VA790NY, VA790NY-FB1, VA785NY, VA785NY-FB1) by Jackson National Life Insurance Company of New York (Home Office: Purchase, New York). Variable annuities are distributed by Jackson National Life Distributors LLC, member FINRA. These contracts have limitations and restrictions. Jackson issues other annuities with similar features, benefits, limitations and charges. Discuss them with your representative or contact Jackson for more information.
MarketProtector Advisory Individual Modified Single Premium Deferred Fixed Annuity with Index-Linked Interest Option and Market Value Adjustment (contract form numbers FIA265, FIA265-FB2, ICC19 FIA265, ICC20 FIA265-FB2) is issued by Jackson National Life Insurance Company® and distributed by Jackson National Life Distributors LLC. This product is a fixed annuity that does not participate in any stock or equity investments and has limitations and restrictions, including market value adjustment. During the Indexed Option Period, the annuity's cash withdrawal value may be less than the initial premium. Additional premium is permitted in the first contract year. For costs and complete details, contact Jackson. Premium Payments are flexible in the first Contract Year only, subject to Contract minimums and maximums. Subsequent Premiums will remain in a Fixed Account Option until the first Indexed Option Anniversary. No Premium Payments will be accepted after the first Contract Anniversary.
The design of this annuity contract emphasizes the protection of credited interest rather than the maximization of interest rate crediting. Jackson issues other annuities with similar features, benefits, limitations and charges. Discuss them with your representative or contact Jackson for more information. Fixed index annuities may not be suitable for everyone.
Fixed index annuities are also known as fixed annuities with index-linked interest (equity indexed and fixed annuities in Oregon).
MarketProtector Advisory is not available in California or New York.
Jackson is the marketing name for Jackson National Life Insurance Company and Jackson National Life Insurance Company of New York.
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Source: TruChoice Financial Group