Allianz Expands Distribution, Support for Variable Annuity

Seven new broker-dealers will offer Retirement Pro annuity

Allianz announced Monday that it is partnering with seven broker-dealers to offer its Retirement Pro variable annuity. Retirement Pro is designed for clients who work with a fee-based advisor.

Previously, the Retirement Pro variable annuity was only available through LPL Financial. Now, Allianz will offer the annuity through Cambridge Investments, Advisor Group (representing Royal Alliance, SagePoint and FSC Securities), Commonwealth Financial Network and Valmark Securities.

“Retirement planning is fundamentally shifting as more financial professionals understand the importance of offering their clients guaranteed income products,” Robert DeChellis, president of Allianz Life Financial Services LLC, said in a press release.

Allianz also announced it has expanded the support team by naming Corey Walther as head of investment relations and fee-based distribution in January. Walther added to the team by introducing Jay Rosoff, formerly if Allianz Global Investors; Ryan Hurley, a former regional vice president for Allianz Life; and Mike Nicola, formerly a senior vice president of fund partner relations for Allianz Life.

“Retirement Pro is opening the door for fee-based advisors to do just that, and with the experienced team we’ve built, we’re poised to provide our distribution partners with the complete support they need to be successful in this new market,” DeChellis added.

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